Rolls

Abstract Economic exposure has affected the profitability of many countries that operate in the global market. The exchange rates for currencies could be highly unpredictable at times. This is the major cause of economic exposure.Advertising We will write a custom case study sample on Rolls-Royce Case Study specifically for you for only $16.05 $11/page Learn More One of the companies that have been a victim of this is the Rolls-Royce Limited. This is a multinational company that deals in the manufacture and sale of aircraft engines. The company is based in the UK, but it has operations globally. Most of the company’s operations are based in the US. Introduction Rolls-Royce is a company that based in the United Kingdom, but it has operations in many countries. With its headquarters in the City of Westminster, London, the company deals in the manufacture and design of aircraft engines. It is also a distributor of power systems. Rolls-Royce is ranked third among the world’s largest aircraft makers. In addition, it is ranked 16th among the world’s largest defense contractors. This ranking was made based on the revenues made in 2011. Rolls-Royce suffered greatly financially in 1979 following revaluation of the pound sterling as rated against the USD. Inflation rate has a significant effect on the profitability of a company. The companies that are most affected are the multinationals that operate in more than one country with different currencies. The market for aircrafts is dominated by the US companies, thus most sales are in the US Dollar. Any change in the value of the USD against the pound sterling will have a significant effect on Rolls–Royce’s profits. This article focuses on the loss that the company incurred in 1979 as a result of the changes in the US Dollar value against the pound sterling. There are number of factors that need to be considered in assessing the economic impact on Rolls œRoyce. For instance, it is important to acknowledge the fact that the profitability of a company is determined by it pricing strategies and policies, as well as costs. The products of a company could be based on costs.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Under this, the prices could be based on the original costs incurred by the company in its production process, or they could be based on the replacement costs. Either of these bases will have varying effects on profitability. In addition, pricing policies and costs are important in determining the effects of inflation. Therefore, the factors ought to be considered in determining the economic impact on Rolls–Royce. Another factor that could be considered is the number and nature of the company’s customers. The currencies used by its customers and the inflation rate of those currencies are important factors to consider. Inflation affects Rolls–Royce exposure and its profitability. For instance, the company is based in the United Kingdom, but most of its sales are in the United States. The UK currency is the pound sterling, while that of the US is the US Dollar. The profits of the company are calculated in pound sterling. Therefore, the profitability of the company will be affected if the value of the US Dollar falls. The value of the US Dollar will have exposed the company. Coming up with Rolls-Royce’s economic exposure is easy considering the factors presented in this case. It is important to note that there are a number of ways that can be used to calculate the economic exposure of a company. However, the method used depends on the factors given that affect the company’s exposure. The economic exposure for Rolls-Royce in this case is determined once the Forex Beta is calculated. The Forex Beta is calculated as follows: â€Å"Ri = a + ÃŽ ² (S) + ei; S in this case r epresents the index of monthly dollar exchange rate.† The figures realised from the calculation of Forex Beta will be useful in determining the exposure of a company. If the figure is positive, it means that the dollar is appreciating. This will be reducing the company’s economic exposure since the overall effect on the company is that its profits are likely to increase when the dollar appreciates. On the other hand, it means that the value of the US Dollar is depreciating if the Forex Beta is negative.Advertising We will write a custom case study sample on Rolls-Royce Case Study specifically for you for only $16.05 $11/page Learn More This will mean that the company that makes transactions using this currency is likely to make losses. The economic exposure will have increased in such a case. Given the factors in the case of Rolls–Royce, it is possible to calculate the economic exposure of the company by determining the value of the Forex Beta. Hedging investments means investing elsewhere to offset the losses incurred from a companion investment. Hedging is important for companies that have investments in various fields. It helps them in reducing the losses that might be incurred from one investment. It is important to note that not all investments will have the same level of profitability. The losses that Rolls–Royce incurred were as a result of the dollar contracts. According to the case, the company secured huge contracts in 1978 and 1979. These contracts were fixed in terms of dollars. However, the operation costs of the contracts were calculated in pound sterling. This resulted in significant differences in the calculation of the company’s profits. This led to huge losses in 1979. Since the differences in exchange rates were not expected, the company could have diversified its portfolio to reduce such risks. The risk could be less, despite the fact that the economic exposure could still be t here. The company would still incur the inflation risk. However, the losses could be reduced by the profits from the companion investments. There are four major financial management strategies that a company can use to reduce its economic exposure. These are: Forward contracts, options, money market hedge, as well as future contracts. The hedging strategy has been discussed in the previous question. The other strategies that the company could have used are the remaining three. Forward agreement is the case where a firm reaches an agreement that it will receive a certain amount of money in the future in the form of foreign currency. The company should obtain a contract that will specify the amount that will be paid in the future. This way, the company will reduce the risk of economic exposure. Future contracts are similar to the forward contracts, apart from a few differences. The differences include the contract size, maturity dates, and collateral among other features. The effect o f a future contract on the economic exposure of a company is similar to that of a forward contract. Finally, there are the options. These are contracts whereby there is an upfront fee.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The owner is given the right to trade foreign currency for the domestic currency. The price for such trade is specified over a given period of time. Therefore, it is possible to reduce the probability of a loss and an economic exposure if a company uses this strategy. Rolls–Royce still has some engines that are to be supplied in the future under the contracts. It still faces the risk of economic exposure under these contracts. As a result, it is likely to incur losses in the future if no strategy is applied proactively. Apart from the financial strategies, there are some non-financial strategies that could be applied to reduce the risk. For instance, the company could change its marketing selection. Rolls-Rice should review the demand and supply of its product and the effects on price. Product innovation could also be another strategy that could be effective. Sales and prices would increase if the company improves on its products innovation. The company is likely to make high er profits. Finally, the company can decide to increase its global production. This would be important in that it will help it offset the risks that might result from the contracts. Losses will be offset by productions from other nations. Conclusion Economic exposure is defined as the losses that a company might incur as a result of unexpected changes in foreign currency exchange rates. This is an issue that affects most companies that operate globally. The case of Rolls–Royce was a good example of economic exposure. The company incurred huge losses in 1979 as a result of its contracts that were based on US Dollar, while its operations costs were in pound sterling. Companies need to come up with ways of dealing with such issues. Appendix A stylish hardtop Corniche Source: https://www.rolls-roycemotorcars.com/en-GB/home.html This is one of the hand-built two-door coaches Rolls-Royce manufactured in the 1970s, despite the challenging times for the company. A Carmague Source : https://www.rolls-roycemotorcars.com/en-GB/home.html This model was also built by Rolls-Royce in the 1970s on a silver shadow platform. This case study on Rolls-Royce Case Study was written and submitted by user Annabella Turner to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

100 Major Works of Modern Creative Nonfiction

100 Major Works of Modern Creative Nonfiction Essays, memoirs, autobiographies, biographies, travel writing, history, cultural studies, nature writing- all of these fit under the broad heading of creative nonfiction, and all are represented in this list of 100 major works of creative nonfiction published by British and American writers over the past 90 years or so. Theyre arranged alphabetically by author last name. Recommended Creative Nonfiction Edward Abbey, Desert Solitaire: A Season in the Wilderness (1968)James Agee, Let Us Now Praise Famous Men (1941)Martin Amis, Experience (1995)Maya Angelou, I Know Why the Caged Bird Sings (1970)Russell Baker, Growing Up (1982)James Baldwin, Notes of a Native Son (1963)Julian Barnes, Nothing to Be Frightened Of (2008)Alan Bennett, Untold Stories (2005)Wendell Berry, Recollected Essays (1981)Bill Bryson, Notes From a Small Island (1995)Anthony Burgess, Little Wilson and Big God: Being the First Part of the Confessions of Anthony Burgess (1987)Joseph Campbell, The Hero With a Thousand Faces (1949)Truman Capote, In Cold Blood (1965)Rachel Carson, Silent Spring (1962)Pat Conroy, The Water Is Wide (1972)Harry Crews, A Childhood: The Biography of a Place (1978)Joan Didion, We Tell Ourselves Stories in Order to Live: Collected Nonfiction (2006)Joan Didion, The Year of Magical Thinking (2005)Annie Dillard, An American Childhood (1987)Annie Dillard, Pilgrim at Tinker Creek (1974) Barbara Ehrenreich, Nickel and Dimed: On (Not) Getting By in America (2001)Gretel Ehrlich, The Solace of Open Spaces (1986)Loren Eiseley, The Immense Journey: An Imaginative Naturalist Explores the Mysteries of Man and Nature (1957)Ralph Ellison, Shadow and Act (1964)Nora Ephron, Crazy Salad: Some Things About Women (1975)Joseph Epstein, Snobbery: The American Version (2002)Richard P. Feynman, The Feynman Lectures on Physics (1964)Shelby Foote, The Civil War: A Narrative (1974)Ian Frazier, Great Plains (1989)Paul Fussell, The Great War and Modern Memory (1975)Stephen Jay Gould, Ever Since Darwin: Reflections in Natural History (1977)Robert Graves, Good-Bye to All That (1929)Alex Haley, The Autobiography of Malcolm X (1965)Pete Hamill, A Drinking Life: A Memoir (1994)Ernest Hemingway, A Moveable Feast (1964)Michael Herr, Dispatches (1977)John Hersey, Hiroshima (1946)Laura Hillenbrand, Unbroken: A World War II Story of Survival, Resilience, and Redemption (2010) Edward Hoagland, The Edward Hoagland Reader (1979)Eric Hoffer, The True Believer: Thoughts on the Nature of Mass Movements (1951)Richard Hofstadter, Anti-Intellectualism in American Life (1963)Jeanne Wakatsuki Houston and James D. Houston, Farewell to Manzanar (1973)Langston Hughes, The Big Sea (1940)Zora Neale Hurston, Dust Tracks on a Road (1942)Aldous Huxley, Collected Essays (1958)Clive James, Reliable Essays: The Best of Clive James (2001)Alfred Kazin, A Walker in the City (1951)Tracy Kidder, House (1985)Maxine Hong Kingston, The Woman Warrior: Memoirs of a Childhood Among Ghosts (1989)Thomas Kuhn, The Structure of Scientific Revolutions (1962)William Least Heat-Moon, Blue Highways: A Journey Into America (1982)Bernard Levin, Enthusiasms (1983)Barry Lopez, Arctic Dreams: Imagination and Desire in a Northern Landscape (1986)David McCullough, Truman (1992)Dwight Macdonald, Against The American Grain: Essays on the Effects of Mass Culture (1962)John McPhee, Coming Into the Country (1977) Rosemary Mahoney, Whoredom in Kimmage: The Private Lives of Irish Women (1993)Norman Mailer, The Armies of the Night (1968)Peter Matthiessen, The Snow Leopard (1979)H.L. Mencken, A Mencken Chrestomathy: His Own Selection of His Choicest Writing (1949)Joseph Mitchell, Up in the Old Hotel and Other Stories (1992)Jessica Mitford, The American Way of Death (1963)N. Scott Momaday, Names (1977)Lewis Mumford, The City in History: Its Origins, Its Transformations, and Its Prospects (1961)Vladimir Nabokov, Speak, Memory: An Autobiography Revisited (1967)P.J. ORourke, Parliament of Whores (1991)Susan Orlean, My Kind of Place: Travel Stories from a Woman Whos Been Everywhere (2004)George Orwell, Down and Out in Paris and London (1933)George Orwell, Essays (2002)Cynthia Ozick, Metaphor and Memory (1989)Robert Pirsig, Zen and the Art of Motorcycle Maintenance (1975)Richard Rodriguez, Hunger of Memory (1982)Lillian Ross, Picture (1952)David Sedaris, Me Talk Pretty One Day (2000) Richard Selzer, Taking the World in for Repairs (1986)Zadie Smith, Changing My Mind: Occasional Essays (2009)Susan Sontag, Against Interpretation and Other Essays (1966)John Steinbeck, Travels with Charley (1962)Studs Terkel, Hard Times: An Oral History of the Great Depression (1970)Lewis Thomas, The Lives of a Cell (1974)E.P. Thompson, The Making of the English Working Class (1963; rev. 1968)Hunter S. Thompson, Fear and Loathing in Las Vegas: A Savage Journey to the Heart of the American Dream (1971)James Thurber, My Life and Hard Times (1933)Lionel Trilling, The Liberal Imagination: Essays on Literature and Society (1950)Barbara Tuchman, The Guns of August (1962)John Updike, Self-Consciousness (1989)Gore Vidal, United States: Essays 1952–1992 (1993)Sarah Vowell, The Wordy Shipmates (2008)Alice Walker, In Search of Our Mothers Gardens: Womanist Prose (1983)David Foster Wallace, A Supposedly Fun Thing Ill Never Do Again: Essays and Arguments (1997)James D. Watson, The Double H elix (1968) Eudora Welty, One Writers Beginnings (1984)E.B. White, Essays of E.B. White (1977)E.B. White, One Mans Meat (1944)Isabel Wilkerson, The Warmth of Other Suns: The Epic Story of Americas Great Migration (2010)Tom Wolfe, The Electric Kool-Aid Acid Test (1968)Tom Wolfe, The Right Stuff (1979)Tobias Wolff, This Boys Life: A Memoir (1989)Virginia Woolf, A Room of Ones Own (1929)Richard Wright, Black Boy (1945)

The History of the Cabbage Patch Kids Dolls

The History of the Cabbage Patch Kids Dolls During the 1983 Christmas season, parents in the United States frantically searched everywhere for the coveted Cabbage Patch Kids dolls. While many stores had extremely long waiting lists, others had a first-come first-serve policy, which led to shocking, vicious fights between potential buyers. By the end of the year, approximately three million Cabbage Patch Kids dolls had been adopted. The Cabbage Patch Kids frenzy of 1983 was to be the first of many such holiday-season, toy frenzies in the years to come. What Is a Cabbage Patch Kids Doll? In 1983, a Cabbage Patch Kids doll was a 16-inch doll, usually with a plastic head, a fabric body, and yarn hair (unless it was bald). What made them so desirable, besides the fact that they were huggable, was both their supposed uniqueness and their adoptability. It was claimed that each Cabbage Patch Kids doll was unique. Different head molds, eye shapes and colors, hair styles and colors, and clothing options did make each one look different than the other. This, plus the fact that inside each Cabbage Patch Kids box came a birth certificate with that particular kids first and middle name on it, made the dolls as individual as the kids who wanted to adopt them. The official Cabbage Patch Kids story tells of a young boy named Xavier Roberts, who was led by a Bunnybee through a waterfall, down a long tunnel, and out into a magical land where a cabbage patch grew little children. When he was asked to help, Roberts agreed to find loving homes for these Cabbage Patch Kids. The real Xavier Roberts, who invented the Cabbage Patch Kids dolls, had no trouble adopting out his dolls in 1983, for real kids around the country vied to be one of the few whose parents were able to buy them one. The Real Story Behind the Cabbage Patch Dolls The real history of Cabbage Patch Kids dolls had little to do with Bunnybees; instead, the real story began with 21-year-old Xavier Roberts, who, when he was an art student, came up with the beginning doll idea in 1976. By 1978, Roberts joined up with five of his school friends and started a company called the Original Appalachian Artworks, Inc., which sold the entirely plush, hand-made Little People dolls (the name was to change later). Roberts would travel to arts and craft shows to sell his dolls, which already had the signature adoption aspect to them. The dolls were a hit even with the first buyers and soon orders started to pour in. By 1981, Roberts and his dolls were being written about in many magazines, even appearing on the cover of Atlantic Weekly. In 1982, Roberts and his friends were unable to keep up with the orders and thus signed a contract with Coleco, a toy manufacturer, who could mass produce the dolls, which were now to have plastic heads and be called Cabbage Patch Kids. By the following year, Coleco couldnt keep up either. Kids were demanding the doll, causing a buying frenzy at the end of 1983. A Few Things You Dont Know About Cabbage Patch Kids Dolls Later, when Hasbro took over manufacturing (1989 to 1994), the dolls shrunk down to 14 inches tall. Mattel, which manufactured Cabbage Patch Kids from 1994 to today also kept the smaller, 14-inch size. On the left-side of every dolls tush, you can find the signature of Cabbage Patch Kids inventor, Xavier Roberts. However, what you might not know is that just about every year the dolls were made, the color of the signature changed. For instance, in 1983, the signature was black but in 1993 it was forest green. If you are an avid fan of Cabbage Patch Kids, you can go visit the Babyland General Hospital and see the birth of a doll. Located in Cleveland, Georgia, the large, Southern-style house holds thousands of Cabbage Patch Kids dolls. Be forewarned, it is highly unlikely that you could bring kids here and escape without buying them a doll. Do you have a Cabbage Patch Kids doll in your garage that youre hoping will eventually bring you lots of money? Check out the Doll Collecting site at About.com to find out if what you have is worth anything.

Application Report 2 Essay Example | Topics and Well Written Essays - 500 words

Application Report 2 - Essay Example In other words, if there is inflation and the price of commodities is high the Federal Reserve has to lower the interest rates to make the cost of living affordable and consequently ease on commodity prices. The reverse is also true, in that the Federal Reserve can increase interest rates to avoid inflation. In this case, the Federal Reserve is grappling with the issue of whether to increase interest rates at a time when the economy is falling apart. At this juncture, the Federal Reserve should not even think about increasing interest rates because the cost of living is already unbearable. Increasing the interest rate would only make the situation worse. This is because consumers would not be able to afford borrowing from the banks. High interest rates discourage people from borrowing from the bank. This is because the federal funds rate is also high too. The federal funds rate is the rate at which other banks borrow money from the federal bank (How Interest Rates affect the stock market, 2009). Therefore, increasing interest would not only affect customer borrowing but would also hurt the local banks that make money by lending loans to their customers. In addition, high interest rates would also mean higher mortgage payments. This is because the mortgage paid out by customers would go up because of high interest rates. Auto loans on the other hand would be expensive because of higher interest rates. The loan payments made every month are usually a product of interest rates and the principal amount therefore would go up as a result. The interest rates could also have some far-reaching implications when it comes to businesses, which are seeking to expand. High interest rates would discourage business from expanding due to unfavorable rates and this could have a ripple effect on the economy. This could have a negative effect on the economy as a whole. The stock market survival depends on perception. In a period when the interest rates investors, tend to be

Role of a Student Nurse in Higher Education and Future Healthcare Essay

Role of a Student Nurse in Higher Education and Future Healthcare - Essay Example As the discussion declares  there is a need to change the nursing practice in the transformation of the health care system. Nurses find themselves in providing care to people from diverse cultures. In addition, technological advancements in the medical field present new treatment approaches.  From the report it is clear that  the current transformation of Health Care demands that nurses take up more roles and responsibilities in the society. For example, nurses are required to develop their leadership skills to advocate for improved services. Nurses are also required to collaborate with other medical practitioners in the provision of quality care. Currently, nurses have been engaged in many changes. For example in 2010, the NHS England engaged nurses and other practitioners in the development of a new approach to patient care. The collaboration involved 269 groups of nurses together with other practitioners, who provided recommendations on how to bring care closer to the people in the society according to NHS England. The NHS England has recommended several approaches to care to bridge the gap between cheap and affordable care in the society.  Nurses in their professional careers are required to be committed to their role in providing care and ensuring the well-being of patients. The value of competence requires professional nurses to be up to date with knowledge and understanding of the needs of the patients.

Tourism and Basic Needs Essay Example for Free

Tourism and Basic Needs Essay Poorer countries should consider developing their tourist industry as they are predominantly agricultural, have sharply limited development prospects in the near future and tend to be heavily dependent on official development assistance as almost everything requires money. Tourism is an attractive tool that could solvooe these problems as the developing countries could invest in this industry to reap massive amount of profits which could speed up the development of the country’s economy and allow the basic needs of people to be met. Tourism is considered to be the most tactical approach for economic development, specifically in the poorer countries. When viewed as an export industry of the 3Gs, ‘ Get them in, Get their money and Get them out’, tourism has the greatest tendency to assist developing countries to move away from a dependency on agriculture and also, diversifying its sources of revenue. According to the World Economic Forum (WEF)’s study on tourism and travel, tourism industry creates most jobs in developing countries and their foreign earnings leapt from less than US$50 billion in 1990 to more than US$260 billion in 2007. With such vast amount of revenue, this could jumpstart the local economy and provides quick capital injection. Furthermore, in the case of having inefficient or corrupted government, the tourism industry can also provide one source of direct earning to the poor people. Therefore, poorer countries should place the development of their tourist industry as their main priority because it would address the problem of insufficient funds and to better caters the basic needs of their own people. Basic needs of people often include food, clothing and medicine. Others are clean water and sanitation, adequate levels of nutrition, access to primary health care and basic education. To achieve all these, the government has to invest in the tourist industry such that it would play as a substantial role in job creation. In addition, good planning is also required of the local government. Good planning will allow poorer countries to benefit from high-value added tourism such as eco-tourism, medical tourism, educational tourism, adventure tourism and creative tourism which is a form of cultural tourism. Private tour guides are also an excellent way to get insight of the country and help the locals to earn an income. A recent trend is dark tourism which is a small niche market driven by varied motivations such as mourning, remembrance or macabre curiosity. The main draw of this is mostly due to their historical value rather than their associations with death and suffering. An example will be Cambodia which combines cultural and dark tourism in places like Angkor Wat and Tuol Sleng War musemum. Thus, with such planning and vast diversity of tourism, the locals will definitely benefit from them and would be self-sufficient in meeting their own basic needs. However, the environmental impact of the tourism industry on the locals must be considered. Where there is no benefit to offset the negative impact, developing the tourism industry may be just a raw deal. Hotels, discos, greater air, land, noise pollution and urban congestion would upset the tranquility of the area. Tourism can also lead to the creation of unsightly human structures that do not fit in the local architecture and would lead to the disturbance of the wildlife habitat which accompanies with the loss of biodiversity of plants and animals. Some tourism destinations may become victims of shifting taste. In this context, the excessive building and environment destruction are often associated to the traditional â€Å"sun and beach† tourism which may contribute to a destination’s saturation and its subsequent decline. Such example would be Spain’s Costa Brava. To counter to this problem, the local government of the poorer country needs to practice careful urban planning and introduce new laws and enforcement. Instead of the creation of infrastructure that do not fit into the local community, the government could consider building something that has the local colours as it may have a greater effect in attracting tourists to visit them. By doing so, it would reduce the chances of the traditional â€Å"sun and beach† tourism. In addition, the implementation of laws and enforcement would tackle the local greenery issues as this could reduce the impact on wildlife and plants. Therefore, only with these accompanying solutions, the problem can be reduced to the minimum and would prevent huge financial loss. In all, poorer countries should develop their tourist industry as it would provide them with an alternative source of financial income. This would also assist in the economic development as it brings in the much needed foreign currency which would benefit the locals as their basic needs could then be met.

National Transportation Safety Boards Report Case Study Essay -- Essay

National Transportation Safety Boards Report Case Study STATEMENT OF PURPOSE This report provides a summary of the National Transportation Safety Boards Report on the accident involving a Douglas DC-8-63, N827AX, operated by ABX Air Inc. (Airborne Express). The description provides a brief synopsis of accident flight. The discussion is an examination of the history of the flight and discussion on those findings I found were most causal to the accident that were covered by the National Transportation Safety Board during their investigation. The report also explores those probable causes that attributed to the accident and action provided by the National Transportation Safety board in the prevention of similar mishaps. DESCRIPTION On December 22, 1996, at 1810 eastern standard time, a Douglas DC-8-63, N827AX, operated by ABX Air Inc. (Airborne Express) impacted mountainous terrain in the vicinity of Narrows, Virginia, while on a post-modification functional evaluation flight. The three flightcrew members and three maintenance/avionics technicians on board were fatally injured. The airplane was destroyed by the impact and a postcrash fire. The functional evaluation flight, which originated from Piedmont Triad International Airport, Greensboro, North Carolina, was conducted on an instrument flight rules flight plan and operated under Title 14 Code of Federal Regulations Part 91. The National Transportation Safety Board determined that the probable causes of this accident were the inappropriate control inputs applied by the flying pilot during a stall recovery attempt, the failure of the nonflying pilot-in-command to recognize, address, and correct these inappropriate control inputs, and the failure of ABX to establish a formal functional evaluation flight program that included adequate program guidelines, requirements and pilot training for performance of these flights. Contributing to the causes of the accident were the inoperative stick shaker stall warning system and the ABX DC-8 flight training simulator’s inadequate fidelity in reproducing the airplane’s stall characteristics. DISCUSSION In all the National Transportation Safety Board concluded there were twenty-three findings that directly contributed to this airplane accident. I will address the ones I feel carried the most impact where if the instance was removed the accident would have be... ...stall characteristics. Recommendations include requiring the Douglas Aircraft Company change maintenance and calibration requirements for all DC-8 stall warning systems, improving the fidelity of the simulators in reproducing the stall characteristics of the airplanes they represent, ensure ABX incorporates the revised functional evaluation stall recovery procedure in its FEF program and developing an advisory circular advising aircrew on correct stall maneuver procedures. Additional requirements were for the FAA to identify operations that require special consideration and require special training and operational guidance. They were also to take a more active role in surveillance of FEF programs for air carriers and modify current operating instructions to clarify airworthiness and operational procedural requirements for conducting FEF’s in transport-category aircraft. The Safety Board also reiterated its standing recommendation to present pilots with angle-of-attack information in a visual form at and to train them to use the information to obtain maximum possible climb performance. Bibliography: National Transportation Safety Board, Aircraft Accident Report NTSB/AAR-97/05

Hill Country Case Solution Essay

Hill County operates in a very competitive market where new potential entrants can be a threat to its operation either through lower price offering or lower production cost. Competition from peer companies has significant effect on its operation, because Hill County is price taker in the market, that is, increase in prices is not one of the choices it can implement. Also, due to the fact that its profitability relies heavily on cost management, an intense competition can worsen the situation of Hill County in the future. Hence, the company needs to be very efficient in order to compete with other low-cost production firms. In addition, cost management may also link to the bargaining power of Hill County over its suppliers, which plays an important role in the manufacturing cost of the firm. Whenever their suppliers have more bargaining power, Hill County would face a potential decline in its profit margin. Macroeconomics conditions also contribute to the business risk of Hill County. During an economic downturn, consumers are less likely to spend money on snacks or attend venues, where they would normally purchase snacks. This would result in declining sales. Hill County does not seem to offer as much diversification in their line of production needed, in order to diversify their exposure to macroeconomic contractions away. The change of consumer behaviour is another business risk faced by Hill County. Recent surveys have shown that, consumers tend to become more aware of Health food. This indicated that they may turn away from less healthy snacks to other choices such as organic food. Selling snacks through school systems also requires the company to alter its products. Therefore, Hill County has to conduct researches and develop alternative choices in response to such preferences and requirements, which leads to an increase of cost. 1.2 How much financial risk would the company face at each of the three alternative debt-to-capital ratios presented in Exhibit 4? The following table compare the potential financial risk faced by the company under each of the debt-to-equity ratio alternative. In general, the higher the leverage ratio is, the higher the risk level will be. Item 20 % Debt to Capital 40% Debt to Capital 60% Debt to Capital The company has the same tax level across each scenario, and thus there is no difference in the relative advantage of An increase in the debt level is leading to higher The highest tax shield advantage in Tax Shield tax shield. However, in absolute terms, an increase in the tax shield benefits absolute terms to the company debt-to-capital ratio will enhance the tax shield benefit The bond rating is AAA/AA, indicating that the default risk is rather low. In terms of financing cost, comparing with the corporate bonds with same rating that pays at rates from 2.5% to 3.2%, the interest rate 2.58% is considerably acceptable. Higher debt levels are leading to higher financial distress costs for the company. However, 20% is still below the industry’s average and appears as a considerable level in order to benefit from advantages that debt provides. The rating of the bond would fall to BBB indicating that the credit risk increases higher debt levels. Although the credit increasing thi s is still in line with the average. According to Exhibit 3 the bond This is rating drops to B. This seems rather due to high and risky and would raise the risk is concern of the management and market especially the equity holders, which are described as risk averse. Too much debt-to-capital ratio can cause severe financial distress cost to the company (details to be discussed in section 3). The 4.52 ICR indicates that the debt level is rather risky, as a significant amount of the cash flow generated by the company would be tightened up by a higher repurchase premium and a higher risk premium. Credit Risk Financial Distress Cost Higher financial distress cost as the company is entitled to debt obligation where debt holders have the ability to file bankruptcy toward the company. An ICR 11.82 is in line with the industry average and much higher than the bonds with the similar rating (4.1). But as the amount of stock being repurchased rises, the premium required would also increase, resulting in more cash outflow. In terms of financial flexibility, a relatively high interest coverage ratio (ICR) of 36.8 supports the company’s ability to Flexibility take on more debt. Especially by comparing the ratio with its peers, such ratio seems to match with its risk aversion philosophy. Agency Cost of Debt Increase in debt-to-capital ratio can cause agency cost of Agency cost of debt will be more problematic This level will involve highest agency debt to be higher. However, at level of 20%, it is still because the managers are not left with freedom cost of debt. considerably low. to operate the company. Agency Cost of Equity Adding more debt into capital structure will reduce agency As more debts are added, agency cost of debt cost of equity as managers are left with less free cash flow Lowest agency cost of equity. would be further reduced. that could have been exploited for perk consumption. Since part of the earnings is paid to meet the debt repayments, dividends paid deceases comparing with actual 2011. But this is counter-balanced by increased earnings per share (EPS) as the shares outstanding is reduced Comparing with 20% leverage, dividend continues to decrease but EPS goes up on the scale of EPS in actual 2011, which is favourable for valuation and is in the interest of shareholders. Dividend Policy Dividend paid and EPS decline at the same time, which would lead to a lower valuation of the firm. 1.3 How much value could Hill County create for its shareholders at each of the three alternative debt levels? In order to answer the question we use the change in return of equity (ROE) as an appropriate measure. For the sake of simplicity we used the book value of equity rather than market values. According to Exhibit 4 and 5, the profit margin, total capital and tax rate remain unchanged over the forecasting period. Judging from the table below, the ROE increases when the leverage ratio rises. This is indicating that the more aggressive the capital structure is, the more the extent to which the value is maximized. However, we should take into account the benefit and risk involved when deciding which capital structure is optimal. Alternative 20 % Debt to Capital By implementing 20% of debt into the capital structure the company is able to increase the ROE by over 30% to 16.31%. 40% Debt to Capital An increase to 40% debt to capital is leading to an increase of over 60% in the ROE t o 20.52%, which is a positive indicator of increased shareholder value. 60% Debt to Capital ROE In the third alternative the ROE can be more than doubled to a ROE of 27.64%. 2. What debt-to-capital structure would you recommend as optimal for Hill County? What are the advantages of adding debt to the capital structure? How would issuing debt impact the company’s taxes and expected costs of financial distress? How would the financial markets react if the company increased its financial leverage? In order to determine the optimal capital structure for Hill County Snack, we examined the debt-to-equity ratios for A-rated companies within the food and beverages industry. Based on figure 15.13 in Financial Theory and Corporate Policy by Copeland, we see that the median is 65% debt-to-equity, which in debt-to-capital term equals 40%. We can also see from the figure that none of the firms within the industry operates with zero debt-level, and this gives us an indication that the firm is likely to gain firm value by introducing debt to its capital structure, mainly due to the tax shield of debt. Referring to Modigliani-Miller proposition I (MM I) with taxe s, we know that the value of levered firm is equal to value of unlevered firm plus Figur 15.13 tax shield of debt. Also, according to Tread-off Theory, the firm will increase its value by adding debt up to the level where the marginal cost of financial distress is equal to the marginal gain from the tax shield. We used the ICR to evaluate the likelihood of financial distress when the firm introduces debt to the company. The financial market is likely to have a positive reaction if the company increased its financial leverage, since it will increase firm value and ROE, making the company more attractive to investors and other stakeholders. To what extent the stock price will appreciate depends on the market expectations of how the firm will cope with its debt obligations. From Exhibit 4 we see that the firm can easily adopt the 20 % debt-to-capital ratio, having a very high ICR of 36.90 which implies very low probability of financial distress as well as it will be in shareholders’ interest since it increases ROE from 12.5% to 16.31% without adding much risk and reduces f ree cash flow and agency cost of equity. Having a closer look on the next scenario where the company is tested with a 40% debt-tocapital ratio, we can see that ROE increases from 12.5% to 20.5%. With this capital structure, the firm operates with the same level as the industry median of its competitors. Implied by Pecking Order Theory, since this is the median, it might indicate that this is somehow the optimal debt structure for this type of industry. The firm will still be very liquid with a relative low probability of financial distress based on the high ICR of 11.82. Finally, we have to consider the 60% debt-to-capital ratio, which results in an ICR of 4.52. This ratio is, just above the median for BBB rated companies by Standard & Poor’s (Exhibit 3). Although the ROE increases form 12.5% to 26.2%, it introduces a significant amount of risk to the company and the firm would be much more sensitive to macroeconomic conditions and fluctuations in revenue. Based on the three alternatives, we believe that the optimal debt-tocapital structure is around 40%. This is because the company will have a significant benefit from the tax shield of debt and it will cause a large increase in ROE for the shareholders such that they are able to compensat for the increase in risk, reduc agency cost of equity and still be very liquid to fulfil their debt obligation, by having a very high ICR of 11.82, which is  even above the median for A-rated companies. The reason we chose this alternative instead of 20% is because we believe that the company can increase its firm value even more with this alternative, without adding a significant amount of risk. Also, if the company were to introduce 60% debt-to-capital, we think this is a too aggressive approach for the company that is new to debt in its capital structure. 3. How could Hill County implement a more aggressive capital structure? What methods could be used to increase debt and decrease equity? A more aggressive capital structure would in general mean that the company is increasing the leverage ratio by either increasing the debt or reducing the equity or both. The main two reasons why companies look to reduce the share capital and make capital distributions to shareholders (i.e. return cash surplus to shareholders in excess of the immediate requirements of the company) are: a) enhancing shareholders’ value though an improved ROE; and b)to achieve a more efficient capital structure. The following are possible approaches that Hill County can undertake to adopt a more aggressive capital structure. 1) Implement Debt Financing Debt financing refers to any borrowed money which Hill County would have to pay back to the lending institution. It can come in the form of a loan, line of credit, bond, etc. We would highly recommend Hill County to seek capital by issuing bonds rather than having bank loans. In our view, Hill County can benefit more from bonds issued than from a bank loan. The interest rate and other terms of bank loans are set by the bank, whereas when issuing bond, it can actively set the interest rate and schedule the payments based on the current market conditions. Even though it would be its first issue of bonds, we see the risk involved and cost incurred rather minor, due to the relative strong financial reports of the company, assuming the market is efficient. Although most companies, including Hill County, can borrow from banks, they view direct borrowing from a bank as more restrictive and expensive than selling debt to the open market. In order to maintain the degree of flexibility that is offered by all equity financing, the CEO would try to avoid any restrictions that come with debt financing. Most bank loans come with multiple conditions, or covenants, that the borrower must follow for the life of the loan. Bank loan covenants protect the bank (and in effect  bank loan fund investors) but impose restrictions on the borrower. As the advantages outweigh the disadvantages we recommend Hill County to seek for bond financing rather than a bank loan. 2) Reduction of Equity Alongside the debt financing via bonds, we suggest that Hill County should reduce their share capital.. A reduction of equity is used to increase distributable reserves to make dividend payments possible, or to make a large return of capital more efficient. There are a number of possible mechanisms, including: A share buyback, where Hill County buys its own shares back in the market. These shares are usually then cancelled. Companies do sometimes retain bought-back shares as treasury shares in order to be able to re-sell them, or allocate them to fulfil share options or to otherwise avoid issuing new shares. In the case of Hill County, we would advise them to cancel the shares as we are seeking for a possibility to reduce the equity share capital. Another alternative for County Hill is the conversion of share capital and nondistributable reserves into debt capital. This approach has been used by large UK listed companies, and is basically the conversion of share capital into debt. Existing shares are cancelled and replaced with new shares (fewer, or with a lower par value) and bonds, the latter typically redeemable at the option of the holder. This allows shareholders to take the return of capital as a capital gain, and time it to their advantage. One easy solution would be the conversion of non-distributable reserves into distributable reserves, which is followe d by the payment of a special dividend. This, however, would mean that many shareholders would be unable to avoid paying income tax on the special dividend. 3) Hybrid Securities In addition to financing either by debt or by equity, such hybrid securities as convertible bonds can both alter the capital structure and provide the management with flexibility. Within a certain time period or when the share price is low, the convertible bonds would contribute to the total debt amount, which requires fixed and rather low periodic payment. Hence, the leverage ratio would rise. However, as time goes by or when Hill County’s stock price appreciates, these bond holders may convert the bond and thereby such amount would switch into equity. 4) Off Balance Sheet Financing (OBF) Apart from general debt financing we would also consider the implementation of off balance sheet financing. As the  leverage ratio goes up and increase the riskiness of the company, the CEO and share holders may concern such would weaken the strength of balance sheet and periodic performance. But certain OBF methods like leasing and factoring can enhance the cash flow of the firm and substantially build up the leverage without adding to the amount of the debt. 4. Considering Hill County’s corporate culture, what arguments could you use to persuade CEO Keener or his successor to adopt and implement your recommendation? Considering the management focus of Hill County is to maximize shareholders’ wealth, raising the leverage ratio of the firm can help the management to achieve such goal. First of all, using the issued debt to repurchase stock can not only push up the stock price but also bring shareholders tax benefit, which supports equity holders in managing their wealth more efficiently. Also, in line with our previous discussion, introducing debt into the firm’s capital facilitates managers to take up slightly more risky but also more profitable investment opportunities. This is because leverage can reduce the risk that is bore by equity, instead of missing out potentially profitable projects so as to maintain sufficient cash flow. Regarding the company’s strong commitment to efficiency and cost control, issuing debt can provide the company with considerable tax shield as interest payment is tax-deductible. Thus, reducing tax payments can lower expenses and retain more economic benefit within the company. Another advantage is that leverage can lower the weighted average cost of capital since the cost of debt is usually lower than the cost of equity, which contributes to its cost control policy. In such way, Hill County can more efficiently (lower cost of capital) and sufficiently (higher level of retained earnings) finance its daily operations and other investment projects. A third aspect of the Hill County’s corporate culture is caution and risk aversion, meaning that the managers always prefer financial safety and flexibility. Introducing debt into the capital structure of the company can stabilize the cash outflow as the company can schedule whichever principle and interest payment that is suit able to the operating and financing requirements and thereby enable the management to control risk exposure. Also, Hill County can issue debt with embedded options such as callable bonds, enabling the firm to buying back the bonds at a certain  price when debt-financing is unfavourable. Lastly, if the management is still concerned about rising debt levels would lead to weaker financial reports, other capital sources such as off-balance sheet financing can change the capital structure without much dynamic and unfavourable change of the crucial financial ratios, say, debt-to-equity ratio and interest coverage ratio, which have a strong impact onto the evaluation of Hill County’s risk level.

Is Australia an Inclusive Society Essay

Reports from the Australian Bureau of Statistics (2003a, 2003b, as cited in Ashman & Elkins, 2009, p. 7) show 25% of the Australian population is currently made up of migrants from around 200 countries. This fact demonstrates Australia, on the whole, has a tolerant and inclusive society. A society can be identified as a collection of people who live together in a relatively ordered community (Ashman & Elkins, 2009, p. 7). It could be said, Australia has one of the most inclusive societies on the planet; however, this was not always the case. Net overseas migration has doubled from 146,800 in 2005-6 to 298,900 in 2008-9 (Australian Bureau of Statistics [ABS], 2011). Migrants born overseas account for a quarter of the total population with 50% having direct links with relatives born overseas. Nearly 2. 5 million Australians speak a language other than English at home (ABS, 2003a, as cited in Ashman & Elkins, 2009, p. 7). These facts show how much multiculturalism is now an intrinsic part of Australian society. Some traditional migrant countries, such as the UK, still remain dominant in the proportion of people arriving onto Australian shores; however, more recently, a larger percentage of migrants from Asian countries have started to show in census statistics (Department of Foreign Affairs and Trade [DFAT], 2008). Today migrants can be found in all levels of society and the workforce. Employers are bound by the Racial Discrimination Act 1975 not to exclude any persons on the basis of nationality, race, colour, descent or ethnic origin; however, this was not always the case. The White Australia Policy (forming the basis of the Immigration Restriction Act 1901) from 1901 to 1973 was introduced primarily to prevent Pacific Islanders from being employed as cheap labour in the vast sugar plantations in the Northern part of the country (DFAT, 2008) . The policy was gradually abolished after the Second World War, but the emphasis on European immigration remained until 1966, when the government allowed the migration of ‘distinguished’ non-Europeans. The last vestiges of the policy were discarded in 1973. From 1901 to the early 1970s, policies towards newcomers were based on assimilation. The preference for British migrants remained, and all others were expected to shed their existing cultural identities, including their native languages, to promote their rapid absorption into the host population. (DFAT, 2008, p. 2) A lively debate would ensue to decide if Australia could be seen as inclusive during this period of history. Even with the acceptance of Whites there were still racial undertones in the nicknames of migrants from certain countries. Wogs from Italy, Dagos from Spain, Poms from England (origin has not been verified, but several theories remain), to name but a few. In conclusion with such a large migrant population from so many different countries, Australia has succeeded in becoming an inclusive society. Migrants will continue to arrive onto this big brown land and play a major part in shaping the country in centuries to come. Stereotypes. Collins Cobuild English Dictionary (1995, p. 1635) defines stereotype as an â€Å"a fixed general image or set of characteristics that a lot of people believe represent a particular type of person or thing. † This is a thought that is conceived without actual basis or factual content. Stereotypes can come in many forms. Commonly it is a belief that may have been subliminally imparted by peers, parents or the media. Stereotyping can cross all groups, genders, races, religions or even animals. It is possible social interaction or experience can lead to stereotyping especially if a negative experience is involved. People may all be guilty in some form of stereotyping, although not in a derogatory sense. Some common examples are, left handed people are creative, Asians are hard workers, blondes have more fun, fat people are jolly. A negative consequence of stereotyping is what Sanderson (2010, p. 349) calls stereotype threat. Minority group members experience an apprehension that they may behave in a manner that confirms existing cultural stereotypes. Gender stereotypes are one of the most common encountered on a daily basis. The infamous ‘Glass Ceiling’ still exists in many areas of the professional world, restricting valid promotions simply based on gender. This type of concept can be verified by looking at comparative weekly wages of other professionals in a variety of industries. Most people will generally see female dominated occupations, such as nurse, teacher and secretary as requiring feminine personality traits and physical attributes for success; whereas male dominated occupations such as doctor, lawyer, and business executive are seen to require male personality traits for success (Sanderson, 2010, p. 344). Racism The Cambridge Dictionaries Online (2011) defines racism as â€Å"the belief that people’s qualities are influenced by their race and that the members of other races are not as good as the members of your own, or the resulting unfair treatment of members of other races. In recent history massive wars, resulting in countless lives lost, have been waged simply over not belonging to the ‘right’ or ‘our’ race. Most people would agree the concept of disliking someone simply because they look different and belong to another race, is pure ignorance. To say that because a person has dark skin that they will respond or behave in a certain manner is again ignorant. For most people it is hard to believe that less than twenty years ago Apartheid was still a reality in South Africa. The word ‘apartheid’ is derived from the Afrikaans language and is directly translated as ‘separateness’ (P.  Mason-Jones, pers. comm. , 1998). Its basis was racial segregation for Blacks, Whites, Coloureds and Indians. The Coloureds in South Africa are from mixed race families, predominately White males procreating with Black females. The Indians were mainly from colonial Indian descent sent to South Africa as slaves. The concept of black South Africans not allowed on the same public bus as Whites is hard to grasp. A greater issue for the Black people during apartheid was the fact they were not allowed to vote and decide on their own future in a land they had lived in for centuries beforehand. Modern racism can be described as someone’s negative feelings towards an out-group member, which is not based specifically on their group membership (e. g. , race, gender) but rather generalisations of their moral values (Sanderson, 2010, p. 337). This creates the conception that all Black people do not work hard enough and expect handouts and so are discriminated against for that instead of having dark skin. Prejudice The Concise Oxford Dictionary (1982, p. 809) defines Prejudice as a â€Å"pre-conceived opinion, bias (against, or in favour of, person or thing). The word itself can be split into two components, pre- before and jud- judging. Forming an opinion of someone before there is a chance to talk to them or even meet them for the first time is ignorant. Prejudice can come in many forms; however, it is usually associated with negative or hostile feelings about a person or persons simply based on their belonging to a group. Some popular social examples are, people who wear hats while driving are bad drivers, and, older men who have long beards and ride Harley Davidson motorbikes are dangerous. Similarly, pre-judging all the clean, well dressed and impeccably groomed students to be the most well behaved members of the group would not be substantiated. In the same vein, pre-judging the scruffy un-kempt student to be the most troublesome member of the group could be a terrible mistake for the teacher. Consider this scenario: Stephen Hawking is observed crossing the road at a busy intersection while an individual is travelling in the opposite direction. The individual will have no idea who he is or heard his name mentioned in any context. Some people may consider sympathy with his plight, some may ignore him completely, some may even offer assistance. Yet how many would come to the conclusion he is one of the greatest minds on the planet? People may be guilty of pre-judging his condition, abilities or even intellect. Educational responses to diversity Under Section 22 of the Commonwealth Disability Discrimination Act 1992, an educational authority is not allowed to discriminate against a person on the grounds of the person’s disability (DD Act, 1992). Education Queensland developed a statement in response to this section of the Act, called â€Å"The Inclusive Education Statement – 2005. † This statement is now part of 11 pieces of legislation and policies (Education Queensland, 2011). These policies and legislative pieces comprise of Commonwealth and State Acts. The Commonwealth Acts include, Age Discrimination Act 2004, Disability Discrimination Act 1992, Disability Standards for Education 2005, Human Rights and Equal Opportunity Act 1986, Privacy Act 1988, Racial Discrimination Act 1975 and the Sex Discrimination Act 1984. State legislation includes the Anti-Discrimination Act 1991, Child Protection Act 1999, Disability Services Act 2006 and the Education (General Provisions) Act 2006. (Education Queensland, 2011). Education in Australia is a basic human right; however, the learning journey needs to be fair, productive and include everyone regardless of race, gender, cultural background or disability. Inclusive education is a process of responding to the uniqueness of individuals, increasing their sense of participation and achievement in a learning society (Hyde, 2010, p. 11). Education Queensland (2011) requires their staff to identify processes and procedures in the Inclusive Education Statement – 2005, to achieve learning outcomes and develop skills to work and live productively and respectfully with others from a range of backgrounds, abilities and cultures. This ideology will help to produce accepting, tolerant, co-operative and productive citizens. In the classroom teachers need to address the huge variety of differences in their students. They should be adaptable and flexible to address criteria in curriculum while still following policies and procedures that stem from individual schools up to state level. Curriculum, pedagogy and assessment are aligned and meet the needs of diverse student groups (EQIS, 2005). A teacher, or any member of an educational facility, can be prosecuted if they harass a student, or future student, who has a disability, about the disability (Disability Discrimination Act 1992 s. 37). A successful teacher is required to have a positive relationship with all of their students, while still following policy and procedure so that they can â€Å"build bridges from the knowledge and skills that students bring from their homes and communities to the knowledge and skills they need for success in schooling† (EQIS, 2005, p. ). Schools are required to provide professional learning opportunities to enhance understanding of the recognition of difference and the factors that contribute to educational disadvantage, especially an appreciation of factors such as: poverty; gender; disability; cultural and linguistic diversity; and sexuality (EQIS, 2005). Such professional development opportunities will allow teachers with many years experience to fully understand the changing environment they now live in. People with a disability have the same human rights as other members of society (Disability Discrimination Act 1992, Part 2, Division 19, s. ). Teachers must adapt their classroom planning in response to this statement. Simple methods of inclusion on a physical level will include table and chair arrangement, or repositioning of the teacher’s desk to provide easy access if required; however, it is the school’s responsibility to allow wheelchair access to classrooms. Teachers who believe that they are the most important factor in improving student outcomes are more likely to deliver a connected curriculum, with high intellectual quality and high levels of student engagement (EQIS, 2005). While such policies and statement may seem difficult to implement, the outcome of a successful student who is well versed and ready to stand up in society and enter the workforce should be the driving factor teachers strive for. Personal responses to diversity A teacher’s positive attitude towards their students can have a profound effect on their learning ability. Consideration must be taken into account if the student(s) come from a low socio economic background or disruptive domestic environments. The school community may well be the only positive aspect of their lives. Students who have this sort of background often require more support and nurturing. A teacher’s positive attitude towards this student may well release their inhibitions and personal defences. Once the teacher has broken down these barriers the student is more likely to participate, be co-operative and be more productive in the classroom. A negative attitude directed at the same student is more likely to sustain the barrier he or she has towards adults, or authority figures in general, and remain disruptive and uncooperative. An example of this negative attitude is provided by Munro. 2008, p. 99). Ted Brown saw himself as a good literacy teacher. Many of his students made great progress and achieved high-level outcomes. Each year, however, there was a small group of students in the class who did not progress as he expected. Ted noted, â€Å"These students do not get involved or stay focused. They just did not seem to be interested. I guess there will always be low achievers. Not everyone can learn to read†. His observations were accurate. In his classes, these children did not get involved or stay focused, were not interested and remained low achievers. A replacement teacher, Sally Green, taught Ted’s class for a term. She talked with the underachieving readers and noticed that they had rich imagery knowledge of the topics they discussed but often needed time to put their images into words. She helped them practice doing this. Before they began to read a narrative, she had them do this. Sally also had them talk in sentences about the pictures in the narratives and recall vocabulary. The students began to achieve as readers using their existing knowledge to read and to anticipate the ideas in a text. They learnt to paraphrase and visualise as they read, and to review each paragraph. Ted came back to school from long-service leave and noticed that the small group of students had improved in their reading. Because he did not understand the conditions under which they had improved, he was unable to scaffold their learning. Soon some of the students plateaued in their reading and Ted was sure that this was, again, because of their lack of interest. It can be seen from the above text that Ted simply could not be bothered with the small group of â€Å"low achievers†. He did not provide any inclusive activities; therefore, he was not able to obtain the most out of this group. Sally should have discussed this issue with the Head of Department or Principal during her contracted time. Bringing this issue to their attention may have directed the HOD/Principal to discuss with Ted some alternative teaching options, or offer some personal development in this area. Once the issue had been raised, discussed and acted upon it is reasonable to assume that the students and subsequent â€Å"low achievers† would have gained more out of Ted’s classes and develop their learning journey accordingly. According to Conway (2010, p. 29), beginning teachers will need to make an extra effort because his research found that the majority felt ill-prepared to teach students with ESL, disabilities or from dysfunctional backgrounds. This particular course is highlighting the need for future teachers to recognise, appreciate and implement positive strategies for a variety of students with diverse backgrounds, cultures and abilities.

The Strengths and Weaknesses of Classical Criminology Essays

The Strengths and Weaknesses of Classical Criminology Essays The Strengths and Weaknesses of Classical Criminology Paper The Strengths and Weaknesses of Classical Criminology Paper The development of the Classical theory was at a time where society was experiencing vast changes with the movement from feudalism to that of capitalism. This substantial transition took place in the 18th Century or Renaissance period where views and attitudes on religion were being challenged. Due to the influence of religion upon society at the time the challenge that it faced deeply affected society, including that of attitudes to crime. Feudalism was based upon repression with the majority of power, wealth and land being in the hands of only a few people. There was a significant absence of legal rights, punishment was brutal and justice was personalised. In reaction to this a group known as the enlightenment philosophers emerged who argued that human problems should be tackled by the application of reason, rather than tradition, religion or superstition. 1 The Enlightenment thinkers argued for a criminal justice system which was predictable, non-discriminatory, humane and effective. 2 This line of argument formed the basis for the classicalist theory. The Classical theory relies on the principle that humans have individual rights, the capacity to reason and the rule of law. The voluntaristic view that humans have free will therefore means we are entirely responsible for our actions. We commit crime due to either using reason to outweigh the benefits against the detriments or because of an irrational decision. The Classical theory views everyone as having the equal capacity to reason therefore everyone should be treated equally under the law. 3 In order to maintain both individual rights and order the Classicalist theory proposes that there should be a social contract between the governing state and the individuals. The Social contract states that we give up certain rights in return for both the safety of ourselves and our property. The rule of law means we are treated equally under the law. The law is seen as essentially good and that crime is simply a violation of the law. Punishment was used only as a deterrent against committing crime working on a pleasure-pain principle, in which the pain of the sentence would outweigh any pleasure to be gained from committing the crime. 4 The influence of the Classicalist theory has been both positive and negative with both presenting challenging arguments. As Jock Young argues the Classical argument has been immensely influential upon both the legal and criminal side of society. 5 Firstly the Classicalist theory presented a far more open and orderly justice system unlike its predecessor which was left at the discretion of the aristocracy. With the focus being upon the individual, and more importantly the individuals rights, a repressive attitude could no longer be taken in the Criminal Justice system. A sense of justice is given to all parts of society and not just a select few. The Classical theory is based on self interest of man, will and desire rather than that of God, making social problems easier to deal with and meaning that we have a society all working on the same basis of their reasoning ability. The basis of self interest as our motivation is something that all of society can relate to and provides a firm, realistic perhaps even materialistic foundation. 6 The tension in the theory between the rational self and the pursuit of self interest has been tempered, as Young says, by reason. We are all endowed with free will and the ability to reason and for this the law views us equally, meaning that the justice system can move towards an objective basis. A system which is both fair and objective can be relied upon and is far easier to debate any disputes than a subjective one. Classical theory has led to many legal system reforms but one of the most important is that of punishment, due mainly to its significance in the reform of criminals. Punishment has become proportionate to the crime committed thereby not only making the punishment fair and just but also acting as an effective deterrent against any future unlawful activity. The idea of a social contract coupled with free will gives individuals in society responsibility and choice and it is this responsibility which forces people to consider their actions. By forcing people to take responsibility for their actions society is asking the individual to consider mistakes they have made and how best to reform their ways. The Classical theory has set a standard which other theories can be compared to, it has moved the criminal justice system towards a more predictable, fair and effective position which can be relied upon. The Classical theory has given individuality to society meaning we live in a culture which relies upon itself to improve rather than others forcing us. The Classical theory has been limited by the assumption that all people are equal in front of the law. There cannot be equality in front of the law when society is immersed in inequality. The problem of fairness in individual cases becomes apparent when we consider that people are not endowed with equal capacity to reason. 8 Children and adults with mental illnesses cannot reason in an equal capacity to other people therefore how can they be tried in the same manner. Their decision to commit a crime may be due to an irrational decision therefore how is a case of this nature approached, the classical approach offers no answers. The introduction of mitigating circumstances as a possible solution could be countered in that it would conflict with the free will and rational argument upon which the Classical theory is based. The Classical theory also fails to recognise that crime is not distributed throughout society equally. The Classical argument suggests crime occurs due to temporary irrationality but this does not explain why crime occurs in predominately low income areas. Classical theory fails to recognise that the inequalities in society are often the cause of crime and when suggesting all are equal before the law we are confronted with a major contradiction. The inequality in society also highlights the difference between formal law and substantive law because certain individuals in society have the means to exploit the legal system through knowledge and lawyers whereas others cannot. 10 Similarly with punishments, which although may be proportional to the crime, affect members of society in noticeably different ways. For example a poorer individual may experience far greater implications upon being found guilty, in that they could lose income and any future work opportunities, whereas a more affluent person could still manage. It is clear that in an unequal society the argument for complete equality in law is met with many dilemmas. Lombroso would argue that the Classical theory is simply metaphysical speculation and that we are pre-determined, meaning personal characteristics are the reason behind crime. I however would not support the determinism argument because I dont believe we can be free from responsibility for our actions. Functionalism, a theoretical perspective that emphasizes how societies operate or function by highlighting the interdependence of individuals and institutions,11 has also challenged the argument put forward by the Classical theory. Durkheim believed that social activities contribute to the functioning of social systems12 and that crime was normal and had four functions. The first being that it highlights certain behaviours or attitudes because deviance causes proper moral behaviour. 13 Secondly by identifying deviants you are able to recognize group boundaries. Thirdly punishing deviance provides forums for collective action. 14 Finally deviance may bring about a social change. Functionalism provides a substantial argument against the classical theory because it attacks the premise that crime is due to irrational actions and is a detriment to society. Although the functionalism argument has been criticised for being in no position to focus on social conflict when it is based upon consensus and how the unity of people is for the good of society. The Classical theory has been scrutinized for not showing any focus towards the causes of crime simply arguing that individuals work on a pleasure-pain basis. However Beccaria argued that economic conditions, bad laws could cause crime. Additionally, he was clear that property crimes were committed primarily by the poor, and mainly out of necessity. 15 The Classical theorys main problem is that it continually contradicts itself which leads to various other problems. The Classical theory could only occur in a society free of inequality, not based on class or status. When this is met with the premise that individuals are self-seeking and motivated by their desire to excel you arrive at a contradiction which leaves it with little freedom to counter. A society which is based on the individual being motivated by their own objectives leaves an imbalance and inequality because obviously not everyone will reach the same standard. The Classical theory is attempting to have a justice system based on formal equality in a society which is substantively unequal. This has repercussions throughout the whole of the justice system and renders the classical theory in need of reform. The Classical theory obviously provoked a radical change to the justice system and forced elements which were brutal, unpredictable and unfair to be amended in a manner which suited all of society. Classicalism has brought about a justice system which can be relied upon and proposed the theory that deviance is due to irrationality and that individuals are self-seeking which is a premise all of society can relate to. However it is the focus upon the offence rather than the offender which has been its downfall. It has been accused of being inhumane and too formal. Inequality in society has been hidden by the equality in the justice system and for this reason it will always be limited in its approach. However the influence that Classicalism has had is vast with the idea that we are in control of our actions being at the heart of society today. Jock Young stated that classicalism has the largest history of any contemporary criminological theory but still continues to be a major influence both on institutions of social control and in controversies in criminology. 16 Both the Positivist and Classical argument are persuasive theories but a combination of both would obviously provide a stronger argument which would hopefully amend the faults they possess.

Critical Success Factor Analysis

Critical Success Factor Analysis Critical Success Factor Analysis Critical Success Factor Analysis: How to Reach Success? Welcome to the best paper writing website! First and foremost, lets find out what factors are called critical success factors! The notion critical success factor or CSF denotes an element (some action, condition or a type of conduct) that is necessary for a company or an organization to reach success. You should know that there are 4 types of critical success factors. They are: Industry CSFs that result from industrial characteristics of a subject (an organization or a company); Environmental CSFs resulting from the outside world (economic, political or technological changes); Temporal CSFs resulting from different circumstances within the subject; Strategy CSFs that result from the strategy chosen by the subject. What is the purpose of making critical success factor analysis? Actually, critical success factor analysisis necessary to be made when some new actions are planned. It may be launching of a new program, project or something else. It goes without saying that the main aim of any action that is planned is to reach success. If a company or an organization reaches success in new business it reaches all aims stated. What should you do before making your critical success factor analysis? Critical success factor analysisis a complex work. That means that you cannot consider critical success factors as separate phenomena. You should study them in the context of the given case. When speaking about a case we mean that there is a subject (for example, a company) that is planning to do some actions (to launch a new product, for instance) and is interested in what circumstances are necessary for it to reach success. Thus, when making critical success factor analysis, first and foremost, you should study a subject and an action that is planned and find out on the basis of the obtained results what critical success factors are vital in this case. Why should you study a subject? You should know its strengths and weaknesses, its previous experience in the sphere (if there is some) in order to find out in what way strong qualities may be used and disadvantages may be compensated. Thus, you may define what factors are necessary for this subject to reach success. Why should you study an action? You should know what challenges it suggests and what behavioral patterns it will require. When you analyze all this information, you may start making your critical success factor analysis: Need help in making critical success factor analysis? If you have any problems with your critical success factors analysis, you are welcome to contact us! You may rely on us. Every day we provide students like you with help in their studying and we will be glad to help you. Just make an order on our essay writing site. Read also: How to Write a Thesis History Thesis Dissertation Writers Dissertation Thesis Dissertation Service

Observation exericise Essay Example | Topics and Well Written Essays - 1500 words

Observation exericise - Essay Example It’s not the dead body, the violence, the physical abuse, and the blood, that thrill me; there is something more. When the camera is focused on a dead victim, I usually turn my face away from what I’m viewing. I hate blood and killing in films either. I’m not a sadist or a violence-prone individual. I’m just a growing up student of films and suspenseful stories of people, their psyche, temperament, and all the circumstances that lead to an individual’s urge to commit crimes. It’s the entire concept of investigation that thrills me; it’s the whole police/crime story. When the main character is able to solve the crime after the complex process of investigation, the climax, the problems are solved, and all the other flaws are resolved, that’s when I’m able to relax and say, â€Å"It’s a great movie. It’s been a fine day.† I like the movies. Before when there were not enough movies on crime and police stories, I would content myself with love stories, and such other childhood films, like musicals and teenage fantasy stories. But as I grew up, the influence of crime fiction in films made a mark on me. But I also love romance, adventure, and fantasy in my teenage life. These I would find in books and magazines, but more on films. What is so striking about police and crime stories is that they can be mixed with other genre, like love story, or a crime of passion, and adventure as the main protagonist goes on solving the crime. The answer to these questions maybe simple, but complex: first, I love the movies being shown in a movie theater, not movies shown or made for television; second crime fiction gives me thrilling and suspense feeling. It is a normal subject for suspense/thriller films. I usually watch it in the evening, alone, and give myself all the time to appreciate the story. This kind of genre tickles my imagination. There are some questions