Culture And Public Policy Essay Example | Topics and Well Written Essays - 2500 words

Culture And Public Policy - Essay Example This paper stresses that culture can also be regard as the relationships among people within groups, among groups and between ideas and views. Culture deals with identity, coordination, structures, and practices that guide relations among people such as ethnicity, heritage, rituals, norms, and beliefs. Multiculturalism refers to a specific set of philosophical ideas, or a particular orientation by institutions or the government towards a varied population. Thus, culture is created by people and defines people. Culture is express in various ways such as through how we speak, live, conduct public life, associate with others, celebrate, entertain ourselves, remember the past, and think about the future. This report makes a conclusion that culture influences all public policies. The culture of the people or a nation determines the nature of the public policy that is created . Culture also affects the implementation of the policy. It may facilitate implementation of the policy thereby, helping to achieve the policy objectives or prevent creation or implementation of a good public policy, which may have a negative effect on a country’s different aspects such as economic development. Poor public policies in most African countries are because of bad cultures such as the high degree of power distance. On the other hand, most developed countries public interest oriented policies are inspired by the countries’ good cultures such as low power distance.

Importance of Being an Involved Parent Essay Example for Free

Importance of Being an Involved Parent Essay During the past twenty years, an increasing number of researchers and clinicians have begun to give more recognition to the importance of being an involved parent for individual and family development. The relations between being an involved parent and later adaptation are undoubtedly complex. Involvement theory says that, despite change in development, early parent involvement remains influential in later child functioning. Research found the permanent impact of early attachment (Richters and Walters, 1991). Researchers found the evidence that involved parent have consequences for social development across the life span. This research paper considers longer-term implications of involved parent for the continuing development of child. Involved parent is a good start toward healthy development. Research shifts the focus from the examination of parent-child interaction to the image of the parent-child relationship in the childs mind (Main, Kaplan, Cassidy, 1985). There is proper evidence that involved parent is not only connected to greater compliance and reciprocity (Richters Walters, 1991) but also to better peer relations, self-mastery, and sociability in the preschool years (Greenberg Speltz, 1990). The specific claims of parent involvement theory suggest the childs developing sense of self-confidence, effectiveness and self-worth, and aspects of intimate personal relationship (the capacity to be emotionally close, to want and receive care, and to give care to others). Thus, children with parent involvement histories have been found to be more positive, more responsive and less hostile with peers, and more cooperative with parents and so forth. Although the mother is usually the first attachment figure for the baby, many infants react just as much to their father, cooing and smiling and becoming excited at his approach. Some infants become attached primarily to their fathers and thrive at least as well in their development as do infants with initial maternal attachments. Moreover, fathers who are supportive of mothers and are themselves involved parents make it more likely that the infant will develop a secure maternal attachment as well as a secure paternal attachment. By their second year most infants who are well fathered show approximately equal attachment to both parents. It is important to note that attachment is not an all-or-none phenomenon. The style of the attachment and the details of the relationship vary with each parent and infant. Researchers have presented evidence that even newborns are capable of responding differentially toward their mother and father (Ainsworth, Blehar, Waters Wall 1995). The infant can become attached to any individual who is a consistent source of stimulation, attention and comfort, not just to the mother. If both parents are involved, an infant can develop a strong attachment to each of them. Despite such research findings, traditional conceptions of maternal primacy are difficult to change. Involved parents tend to make even mundane activities like holding an infant or pushing a baby stroller. The pace and tempo of such activities tends to be faster and more varied for fathers than for mothers. Involved fathers are more likely to stimulate the infant to explore and to investigate new objects whereas mothers tend to engage their infants in relatively predictable activities. Infants who develop positive relationships with both their parents are likely to feel secure in exploring their environment in a relaxed manner and to enjoy being picked up by others (Ainsworth, Blehar, Waters Wall 1995). In contrast, among insecure infants some may anxiously cling to their mothers while others seem to ignore them and to avoid eye contact. The quality of parenting that the infant receives certainly has important implications, but other factors including temperamental predispositions also play a major role in the social responsiveness of children to adults inside and outside of the family. Infants are not passive creatures just waiting to be fed or to have their diapers changed. They are active and striving, gradually increasing their self-motivated competence. Infants have a built-in motivation to explore and influence their environment. During the first month or so, the infant seems to be using many prewired responses. The infant has the capacity for orientation with respect to various stimuli including light and sound. Moreover, researchers have found that even the newborn is capable of some basic patterns of social reciprocity and is usually showing variations in responsivity toward different people. Despite marked individual variations, newborns are clearly social beings who can actively learn from their experiences of interacting with their fathers as well as their mothers (Ainsworth, Blehar, Waters Wall 1995). Psychologist Frank Pedersen and his colleagues found that several measures of infant competence were correlated with the degree to which five- and sixmonth-old babies were involved with their fathers (Ainsworth, Blehar, Waters Wall 1995). Frequent interaction with fathers was associated with more advanced functioning for sons. Although girls did not seem to be influenced by family structure, father-absent infant boys were also less cognitively competent than boys from father-present homes. Fatherpresent infant boys demonstrated more social responsiveness and novelty-seeking behavior than those who were father-absent. Having found no differences in the behaviors of married and husbandless mothers, the researchers attributed variations in the infant boys behavior to the type of interaction they had with their fathers. Data collected by psychologist Jay Belsky (1987) indicates that both maternal and paternal involvement is important factor in the development of exploratory functions. The most competent infants had fathers who participated in their physical care, expressed high levels of verbal responsiveness and affection and initiated vigorous motion play with them. Belsky stressed similarities as well as differences in the paternal and maternal factors that influenced infant behavior. In their efforts to encourage infant competence, mothers are generally more concerned with verbal-intellectual teaching, whereas fathers are more oriented toward active, arousing play and fostering autonomy and independence (Ainsworth, Blehar, Waters Wall 1995). Research by pediatrician Michael Yogman (1984) and his colleagues supports the facilitative effect that active father participation may have on the developmental competence of infants. Yogman reported a significant relationship between a combined measure of father involvement during the prenatal and postnatal periods and the infants developmental functioning at nine months. In addition, he described a collaborative study done in Ireland that revealed a positive correlation between level of early father involvement and the cognitive maturity of year old infants.

Marks And Spencer: The Biggest High Street Retailers

Marks And Spencer: The Biggest High Street Retailers Marks and Spencer is one of the biggest high street retailers in UK with over 600 UK stores and nearly 303 stores in 41 territories. The home country of Marks and Spencer is United Kingdom. The head office is located in central London at Waterside House. As the companys principle is to value quality, innovation, personalize service and security to their customers in a very unique manner which builds the trust of the customers towards the company. MS offers stylish, high quality clothing, home products and outstanding service especially their own food brands since 125 years. Through massive supply chain including more than 2000 suppliers globally we have used the analytical to tools which are explained as follows: Pestle analysis Political Analysis: In spite of cultural differences MS have functioned very efficiently in terms of macroeconomic policies and also improved good relations with other countries to expand the business. Economical Analysis: As the current scenario the economic conditions are adverse because of the recession therefore MS is not able to achieve the desired targets due to which they have to reduce their cost of products and even bargain with the suppliers. ( ) Socio-cultural Analysis: MS adopt certain social and cultural aspects which vary from country to country in terms of their lifestyle, values and beliefs. This leaves the impact on diffusion of products onto the market. As changes in the lifestyle results in both opportunities and threats to the firm. Technological Analysis: MS uses advance technology in order to serve their customers such as enhanced online shopping were customers can make choices from various products that are available in relation to clothing, food etc. This provides flexibility in running the business more efficiently. (http://www.oxbridgewriters.com/essays/marketing/marks-spencers-corporate-objectives.php). Environmental Analysis: MS has developed plan A which makes the company to fight against climate change, waste reduction etc. This is the first company that has removed the artificial colours from the food items. They give points to the customers if the customer uses their bags while shopping. This way the MS is environmental friendly. Legal Analysis: MS has high holding status, so this will influence the environmental regulation with which in duties must comply. MS has standard accounting methods. MS is listed in on London stock exchange, they are founding member of business in the community. Industry life cycle period There are 4 phases in the life cycle, the MS had started from introduction phase it had taken a long time to developed and move towards the growth phase. In 20th century the growth of MS was strong enough to compete in the market. The company is still in the growth stage as they are innovative and creative in terms of developing new products and because of this only they havent reached to the maturity and decline stage. Five Forces Threat of New Entrants: In 19th century; there were new entries like Asda, Tesco, and Sainsbury. Even Zara and Top Shop were entering the market. So MS faced high threat from them and started avoiding product differentiation decreasing the cost through mass production. Bargaining Power of Buyers: MS bargaining power increases because the quality and the price of the products are high therefore they cannot hold the customers as Tesco, Asda and Top- Shop do so they have come up with quality products with cheaper prices to attract the customers, thus MS is becoming more price sensitive. The Bargaining Power of Suppliers: MS bargaining power is very high as it is known for its quality value products. So supplier can threaten the market by increasing high price or decreasing the quality. As MS is doing partnership widely which increases bargaining power of supplier. Threat of Substitute Product Service: Due competition substitute products services are available, MS is having brand name which is valuable, but substitutes are also available like Tesco, Asda, Manchester United, Zara and Top Shop. Intensity of Rivalry among competitors: The Rivalry among the competitors is strong, In case of MS, there are many competitors so they use tactics like sales promotions, advertising, product differentiation and diversifying the structure by introducing other brand products. Threats Due to high competition, the products substitution is possible this will further reduce the price of product e.g. Primark. MS products are value perspective but there are very small group which constitute value perspective and consumer perspective products as it is having value added pricing methods as other retailers use market skimming method. Opportunities The competitive advantage helped the company to expands its business keeping in mind the futuristic vision in terms of diversification to help market development from the existing products by welcoming new products and make them exist in the global market this denotes the expansion matrix in terms of MS as the company is on the edge of establishing its brand across the territories. External Analysis: From the above mentioned analysis one can state that MS produces the superior quality products and thus MS can sustain in strategic market for long time but have to be protective from competitors. MS has strong advertising strategy (example: clothing). Mostly there sales promotions are done by online purchases and creating awareness in all the public places like tube station, train station, bus station etc. Buyers of MS are gradually falling because the Tesco and Sainsbury are providing quality products with cheaper rates. So through all this we can say that MS needs to take quick decision regarding various polices and strategies that they are following. Strategic Alliances Economy of scale: In case of MS economy of scale it uses the concept of mass production and through this they could reduce the cost per unit as well they raise more revenue. As it is one of the trustworthy brands it had to keep hold on efficiency. Economy of scope: MS has varieties of products in the different range of stores and locations. This diversification of their products and services as this core quality is giving greater opportunity to compete in the global market. Economy of learning: MS has additional competence as learning of new markets, new customers and new preferences according their previous pitfalls and achievements. (http://www.marketingteacher.com/Lessons/lesson_PEST.htm) Evaluation of Company Performance by Balanced Scorecard Approach. Customer Perspective: MS has now understood its quality value attributes were not working longer as their business strategy because customers are trying to get quality goods at a cheaper price. As a result now they moved from product focus to customer focus to attract the customers towards them. E.g. innovative online shopping and giving more value added services. The Internal Business Perspective: This perspective highlights the internal capability of firm. MS has invested to open a retail park, food stores in different towns travel hubs in airports, stations etc. The speed and flexibility of getting the products into the stores has improved by managing inventory. To provide a good service to the customer, the company has invested in systems infrastructure. This helps to reduce the export cost ignites distribution. MS have launched an expertise division to fight against the climate change, waste reduction trading in ethical way etc. (Marks Spencer Annual Report 2009, http://annualreport.marksandspencer.com/). The Innovation Learning Perspective: From time to time; it is coming up with new ideas. For e.g. It has introduced Per Una in 2008 and introduced Cook Asian Bakery cup cakes along with lingerie collection in 2009. MS is conducting activities to train leaders of next generation with the Flagship leadership programme new line management developing programmes. They even have benefit package for their employees (Marks Spencer Annual Report 2009, http://annualreport.marksandspencer.com/). The Financial Perspective: In this year the total revenue of the company have increased by 0.4%. Whereas international market revenue has increased by 25.9%.But the UK market has decreased by 1.7%. Company interim dividend has decreased from 8.3 pence per share to 5.5 pence per share. MS company shares increased by 5.87 per cent to 361 pence per share in, 2009(Marks Spencer Annual Report 2009,http://annualreport.marksandspencer.com/).It is satisfied with its performance in the first half of this year as the Company has increased the shares of the clothing food market. Financial Ratio Analysis: The previous sections we have used numerous tools and techniques to analysis the company the strategic performance. In addition to conclude the precise strategic appraisal of MS is explained below. MS Company Current Ratio is 0.62 times in 2009.It was 0.60 times in 2008. It is less than 1; MSs networking capital is negative. It is unusual in a company like MS. In 2009; Quick ratio was 0.33 times in 2008 but it has decreased to 0.32 times in this year. The stock has increased because of slow moving inventory. Cash ratio is 0.13 times in this year; it was 0.16 times in 2008. In 2009 Total Debt ratio is 0.74 times 0.75 times in 2008. In this year its profit margin is (0.03). This helps MS to sustain in the market. This analysis helped to explain the internal structure of the firm which is explained as follows. (Marks Spencer half year results 2009/10, http://corporate.marksandspencer.com/page.aspx?pointerid=3e7ce29a8f244dc38e22943f16d954d3) Environmental Scanning Internal analysis: The MS has some powerful strength as their competitive advantages to sustain in the market: Strong brand name: MS achieved popularity in UK because of their quality, service and innovation; and effectively stepped in global market to diversify their brand internationally. MS also developed very high reputation from all kind of customers by maintaining their standard and never compromised the quality standards. Good Financial Position: The Company has a very strong cash flow position where the company doesnt require taking any loans from any financial institutions. They can easily manage funds from the revenue they generate. The company indicates to have a strong balance sheet as there is increase in their turnover and trading profits. Generic Strategies: Cost leadership: To compare with Industry competitors MS is not focusing to be a cost leader as to maintain their quality. Differentiation: MS always differentiate their products and services to keep their position in the retail market. For example to be a UKs leading clothing retailer maintain fashion trends and great value with more clarity and newness of all range from children to old generation. E.g. Women wear PORTFOLIO and INDIGO, AUTOGRAPHF, SLIMFIT SHIRT, AND NORTH COAST and for Men, etc. limited collection and 35 and under for younger customers DINE IN FOR TWO FOR Â £10 in Food and also always customer focusing and removing duplication that are priority issues. Focus: MS gearing a focus generic strategy by concentrating on narrow market segment such as a particular buyer group and age, social class, income and occupation. Market segments through value like premium price, high quality, mid-priced and low-price segment. These are the key points applied to achieve differentiation from their competitors like Tesco, Asda, Top shop, Clarks, Zara and Next. As a tacit skill they come up with new ideas to improve the business e.g. MS maintain to keep their own brand products in stores. MS have decided to introduce the other brand products like HEINS, NESTLE etc. Value Chain Analysis: Due to the effect of the recession few years back MS had face some drawback in business especially in food industry but they quickly rectified most of the problems. To overcome from problems they have restructured their supply chain and technology recently. Before MS depends on middle man as their main clothing supplier which led 5% to 7% additional cost plus more operational cost ultimately the cost of the products are more as compared to their competitors. Inbound Logistics: MS has controlled and improve effective computerised inventory control system which is centralised over the globe in order to delivery each item to the shop floor. According to Stuart Rose (Annual report 2009) MS always focuses on environment friendly manufacturing, recycling process through Plane A project which gives very successful achievement in food and clothing industry as well as very controlled operational cost led the company to reduced the price of goods . As an added value the company has a powerful website to integrate the online order management to fulfil the potential benefit. MS has signed an agreement with Amazon for e-commerce services to the retail sector (Press release 2009) which has efficient work flow design. Outbound Logistics: In order to provide continuous replenishment services and products to the customers MS has efficient automated system such as RFID to improve stock accuracy and inventory processes and delivery method. They have their own delivery vehicles and warehouses all over the world. They have closed 21 warehouses to consolidate their GM operations into four large warehouses within UK. In addition to this MS made agreements with third party logistics operators to integrate their suppliers in the supply chain. In case of International distribution they moved forward with direct sourcing as an add strategic value planed to implement SAP within their core commercial system in 2010 and going to outsource their HR system to save time to consent rate in core business (MS case study 2009) Sales Marketing: MS has excellent approach in sales and marketing in advertising, store seasonal promotions. They have proved that products are value for the money. Their recent sales improvements and marketing campaigns are such substantial achievement in retail industry (Annual report 2009) Service: To retain the existing customers and to attract new customers MS targeting more on value added services such as Insurance, Credit card, Tourism, Home delivery etc. Not only this MS has also established in HRM, Technology development, Procurement and General Administration and still keep looking to improved through standard dedicated RD team. In regards to Boston Matrix MS have penetrated into the market through its various new products and services which deals with selling products into the market and achieved main objective in terms to increase the market share of current products; also it has secured a dominant growth in the market. As they are diverse in their products the company has also opened new retail outlets in different countries and have occupied the market in a better manner. Therefore, the Boston Matrix analysis in terms of MS doesnt have any dogs and problem child because they are not losing any revenues which they have invested but in terms of cash cows they are not successful in gaining revenue from some international territories due to recession. But in terms of stars MS hold a strong market due to their reputation. Boston Matrix in a very simplified manner: In relation to the diamond porters competitive advantage in the market MS hold a very strong position as it has withstand in the international market keeping in mind firms restructuring strategies which has helped to increase the productivity and innovativeness as per the demand of the customer. The company is supported by skilled personnel, capital and infrastructure thus gaining sustainability in the world market. Even the government inspires MS to launch its desired products because of the companys loyalty towards the customers. Strengths: MS is the largest retail industry in the global market. It has strong financial backup and also holds good reputation among the customers, suppliers and the distributors. The brand is very famous among the market in UK as well as over the globe. Even they have diverse range of products which makes them unique in their behaviour as they have their in house production. These key points have helped MS sustain in the global market. Weakness: Marks and Spencer is in strong competition with Top Shop, Zara and Next for example the production life cycle of Zara is just 6 weeks even when it comes to clothing outlets these retailers offer the same price range as MS and even more fashionable products. In terms of food shopping MS faces competition with Sainsburys and Tesco as they offer high quality value added foods. Conclusion: Using both environmental analysis techniques (SWOT and PESTEL) and portfolio analysis we have seen that MS have various internal strengths and weakness in its current business activities as well as number of opportunities and threats. The portfolio of MSs products in terms of BCG matrix is either dogs (cash in balance) or question marks (cash cow). In food and clothing (with its focus differentiation generic strategy) relative market shares is low with low industry growth and Financial services industry growth is high but MSs market share is low and will require substantial capital investment to turn them into stars.

Free Essay on Conrads Heart of Darkness - Human or Humane? :: Heart Darkness essays

Heart of Darkness: Human or Humane?  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Upon reading Heart of Darkness we are immediately struck with the issue of the â€Å"nature of man†, and what it means to be human or humane. To be human means to have a mind, to be living, and function as a primate. To be humane on the other hand means to be tender, compassionate, affectionate, kindhearted, and empathetic. It is often assumed that to be human means to be humane, but as Marlow learned on his excursion through the dark jungle of the Congo, one has nothing to do with the other. Marlow’s first taste of man’s true self as he saw it, began when he saw the six man chain gang, as was referred to in the book, six black men chained together obviously being treated as inferiors, almost as slaves. â€Å"I could see every rib, the joints of their limbs were like knots in a rope;each had an iron collar on his neck, and all were connected together with a chain whose bights swung between them, rhythmically clinking.† (Conrad, pg. 81) Upon seeing this atrocious sight of men being treated as savages, Marlow compares the white men who are leading these chained up men, to devils, by remarking that he had seen devils, but never devils who drove other men like cattle. Men who were no different then themselves, except in the color of their skin. As Marlow continues down the Congo, he begins to reflect upon the river, as the river of truth and reality, because as he transcends down it, his ability to find the truth in any situation grows. With every turn, he learns that mans inhumanity to his own kind is man’s greatest sin. On page 106 Conrad talks about how Marlow felt when he was proceeding towards Kurtz’s station, and he explains that he{Marlow} can feel the past, among the overwhelming realities brought upon by the river, the trees, and the silence. â€Å"There were moments when ones past came back to one, as it will sometimes when you have not a moment to spare to yourself;but it came in the shape of an unrestful and noisy dream,remembered with wonder amongst the overwhelming realities of the strange world of plants,and water, and silence....When you have to attend to things of that sort, to the mere incidents of the surface, the reality- the reality, I tell you-fades.

Women and Full-Time Employment

Phoenix Material Issue Analysis After reading the selected critical issue, use the following questions to analyze the issue. The word count for individual questions may vary but your responses should total 1,200- to 1,400-words for the entire worksheet. .1 What are some of the strengths associated with the Pro side of the Issue? What are some of the weaknesses? During the Pro side of the issue of women opting out, one of the strong points of the argument was that women were choosing to opt out of working once hey began having families.Although we live in a time where men and women both are the bread winners on the homes, the women are still the ones who feel as If they have to stop working and stay at home all of the time to take care of the children. If the husband is the one making all the money for the household, the wife will decide to â€Å"choose† to quit their jobs because they feel as if thing are being taken care of on the financial front and they are needed at home t o take care of the children. A weak point Is that If a woman wants to make the choice to continue working, they should array a man who is considerably younger or considerably older than they are.An older man is said to have been working longer and will have the financial means necessary to keep up with a household. Women who do have kids will be able to choose to quit their Job because there is no need for extra wages to be coming In. If they decide to keep working they can then choose a part time job where they can be at home with the kids during the day while the father is at work, and work during the night while the kids are at home sleeping and under the care of the father.What are some of the strengths associated with the Con side of the issue? What are some of the weaknesses? In the debate on the Con side, a strength of the argument made Is that women are not opting out, they do not have choices or options. They are torn between being a nurturing mother, or having a strong car eer. In a lot of these career paths, the debate is to whether or not they are family friendly, or very flexible. The women feel the need to be at home taking care of the child and making money to support the family.One of the weak points to this side of the argument Is that a woman may not have the desire to be with the child at the earlier stages of the child's life. For some women, that desire or the nature to be with the child comes at a later time, when they feel the child is beginning to really develop. Also, a point was made that there is a case of absent husbands, which Just means that the woman who shares the Job burden with the husband never gets to spend quality time with him.Whenever she is home with the child, he is at work and when she is going to work, then he is Just coming in from his Job. The only solution that loud possibly be made in order to spend time together is to get a schedule where the parents are both working at the same times and maybe hire a babysitter o r a nanny to lad In caring for the child while the parents are away at work. This way, both of the parents are free to work and will still have time when they come home to wind 1 OFF . 3 Based on the statements presented in this critical issue, which author do you agree with?Provide supporting evidence. I am a little on the fence as to which side to agree with because while I feel that women do choose to stop working or angered to part time working when their children are born, I still think that it is possible that a lot of women do not get to work in a career where they can have both a family and a good strong career. In a lot of today's careers, a person needs to be flexible and needs to be able to give their Job 100 percent which Just cannot be done if there is a family that needs a parent.In some situations, a man will stay home while the woman goes to work, and there is gender equality, but a lot of the time this is not to be the case. Although women had to fight to have the c hoice to work, there re a lot of men who still think the woman's â€Å"place† is at home taking care of the kids and doing the housework. Some men may tell the women that it is their choice to work, but it really is not much of a choice when there are no other options as far as taking care of the children.I agree that not a lot of Jobs offer flexible schedules for those who have families, and when a person has to adjust their schedules frequently, people may see it as giving them favors. The first argument stated that we are going back in time instead of progressing, which I do not really agree with, so I agree more tit the second statement that was presented. Today is no longer Just a â€Å"man's world†, and women are wanting to be standing as equal. .4 Explore two other roles that can be acquired during early and middle adulthood, such as through parenthood, romantic relationships, and career.How have these roles changed through the past generations? One of the roles that has changed in the past generations is the one of being a caregiver. Seeing how more women are making it in the career fields, there are some men out there who are taking care of the home while the woman goes off to work and takes care of finances. It was said to be the woman's role to stay home and take care of the home as well as the children, but times have certainly changed. In some cases, both parents are working while the children either have babysitters, or they go into a day care facility.Getting and staying married is another role that has changed through the years. In the past, even though the couple are no longer happy, they would stay married. In this case, it is no longer the same once the couple are not hashing out their differences. They are quick to leave once there is no more emotion left to try to patch things up in the relationship. 5 What psychological adjustments are made during early and middle adulthood to adapt to aging and changes in life style? How do es this affect development?For a woman, there are different psychological adjustments when it comes to adapting to age and changes in one person's lifestyle. A woman will have to go through many bodily changes that they may not be ready for, especially if someone has not explained to them what to expect and what is going to happen. Men go through their own bodily changes, but the psychology of it all for boys and girls are different. As need to do something â€Å"meaningful† or even sometimes a bit reckless. Not all people go through the same stages, and sometimes people will go through these stages at different times in their lives.When people are growing up, they have to mentally prepare themselves for what they will be going through. Instead of being afraid and running away from the change, a person needs to prepare and welcome the change because it will be the beginning of a new period in their lives as they continue to grow and develop. While there are some things that a person will go through as they are developing, there will be things that a person goes through that can occur at any period of time.

Complexities of farming essays

Complexities of farming essays The complexion of farming is changing radically. The land cannot support as many farm families as it did in an earlier time. Small farms are being consolidated into larger ones. General farms, with several kinds of crops and a barnyard of farm animals, are yielding to specialty farms that concentrate on a single major crop. Family farms are declining; corporate farms are increasing. Efficiency is growing. Crops are changing. Techniques are improving. Just as the train, tractor, truck, and airplane changed farm life in the past, the computer and robotics are expected to change farm life in the future (AOL, 1997). And the outcome of this is that during the early 1980's and continuing, the farmer's source of income is indeed being stripped from him. What was once the only means of survival for these farmers, has now become distant memory. Farming techniques are undergoing tremendous changes. Farming will surely become more efficient throughout the world. It will also become more scientific and, in the process perhaps lose some of its romance. People who formerly lived on farms and have fond memories of their rural childhood will barely recognize the new farms. For farmers of the future, it will not be enough to know how to drive a tractor and plow a straight furrow. Farmers must change with the industry, as it becomes increasingly more sophisticated. The farmer must become more of a specialist to compete in the marketplace. This is a reason why many of today's farm families are on a decline; that is, that today's farmers are not able to purchase the latest machinery or equipment, for they have to be cautious about where they put their money. The 1980's sometimes referred to as the "farm crisis" decade of the 1980's, while the 1970's were referred to as the "boom years". It was in this time period that farms expanded in size and farm numbers dropped. But in the 1980's, two unusual things happened. First, older farmers seemed to stay...

Verb Agreement with Number

Noun/Verb Agreement with Number Noun/Verb Agreement with â€Å"Number† Noun/Verb Agreement with â€Å"Number† By Mark Nichol When a sentence begins with â€Å"A number of,† should the verb that follows be singular, or plural? For example, when a sentence refers to a number of objections being raised, is was correct, or should you use were? In this case, number stands in as a vague reference to the quantity of objections, but the objections themselves are the focus of the sentence: â€Å"A number of objections were raised.† (This last sentence is passive; it might be better to construct the sentence more actively by identifying and emphasizing those who objected: â€Å"Community members raised a number of objections during the public-comments period.† Occasionally, though, the identity of the actor or actors is irrelevant, or the writer wishes to deemphasize or disguise their identity. That’s why passive construction isn’t categorically wrong it’s merely less direct.) However, when the sentence begins with â€Å"The number of,† the verb that follows should be singular: â€Å"The number of chairs available is 500,† for example, is correct, because the subject of the sentence is number, not chairs, and number is a singular noun. (Of course, â€Å"Five hundred chairs are available† avoid starting a sentence with a numeral is more direct and concise, but, again, sometimes a more relaxed syntax is desirable.) The difference may seem negligible, but consider that in an â€Å"a number of† construction, though the plurality of phenomena in the sentence is important, the identity of the phenomena objections, in the first example above is the essential information. Likewise, in the second example, the reader needs to know what objects the stated quantity refers to, but the point of the sentence is the quantity; hence, number is the key word. The same principle applies when the sentence begins with the expletive there or here, followed by a verb: â€Å"There are a number of objections† and â€Å"Here is the number of chairs you requested.† Again, these sentences are not necessarily ideally constructed, but when you need to write in such a syntactical style, remember, â€Å"A number . . . are† and â€Å"The number . . . is.† 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 Grammar category, check our popular posts, or choose a related post below:5 Uses of Infinitives50 Idioms About Fruits and Vegetables48 Writing Prompts for Middle School Kids

Health Care in Colombia Essay Sample

Health Care in Colombia Essay Sample Medicine in Colombia Essay Example Medicine in Colombia Essay Example Colombia is a developing country located in the northern part of South America. The country experiences regular social and economic difficulties such as the armed conflict in the 20th century and the current illegal drug trade. This state of affairs also contributes to high rates of disease transmission and health risks among the country’s major population groups. Colombia is selected for the analysis as it is reasonable to determine the impact of the above and other negative factors on the health condition of various gender and social groups. Moreover, it is necessary to examine the effectiveness of the governmental measures aimed at minimizing the transmission of diseases. Healthcare System in Colombia Finally, the relevant nursing implications should be formulated. This will allow determining the key health priorities and the corresponding interventions necessary for addressing the existing challenges. In general, the health situation in Colombia is very difficult, but it can be improved considerably if proper interventions are designed. Location/Geography Colombia is located in the northwestern part of South America. It borders with the following countries: Panama, Brazil, Venezuela, Peru and Ecuador. It also has maritime borders with other countries. There are six major environmental regions in the country. They are very different according to their climate characteristics. The regions include both the Andes mountain region and the Amazon rainforest one. Colombia also corresponds to the Ring of Fire – the region of the world where substantial volcanic eruptions occur regularly. It creates substantial risks for the population, and the government has to direct major resources towards preventing the potential negative consequences. There are many large rivers in the country. The main ones are Cauca, Magdalena, Atrato and Guaviare. The problem of deforestation also exists, but its scope is lower in comparison with other countries from this region. Population The current population of Colombia is approximately 48 million people. Colombia is the third most populated country in the region (after Brazil and Mexico). The country is characterized by the stable increase of its population over the recent years. Government Colombia is the traditional presidential democratic republic. This form of the government is included in the country’s 1991 Constitution. The usual division of powers into the legislative, executive and judiciary branches is present in the country. The President of Colombia performs the functions of both the head of state and government. In such a way, he/she utilizes the opportunities of the executive branch to the maximum possible extent. Congress represents the major element of the national legislative branch. It has two Chambers: the Chamber of Representatives and Senate. Four-year terms are used for selecting both representatives and the President. There are four high courts in the country that form the major element of the judicial branch. The country is divided into 32 administrative departments and one capital district. Local governments are organized in all departments, and concentrate on satisfying the needs of the local population. Economy The Colombian economy has demonstrated high rates of economic growth in the 20th century. The country has become much more urbanized and industrialized than in previous historical periods. The current national GDP is $377.7 billion (The World Bank, 2015). The country is characterized by stable and positive rates of economic growth. They are presented in Fig. 2 (Trading Economics, 2015). The country is characterized by a sustainable economic growth. Although the rates of economic growth are not significantly high (the maximum rate is 2.7%), the country has all chances to avoid recession as of the previous several years, and the overall standard of living tends to increase. The largest fraction of the country’s GDP is generated by insurance, finance, real estate, and business services. At the same time, the impact of manufacturing and construction industries is also considerable. Moreover, taxes in Colombia are high, and they do not allow actual and potential entrepreneurs to receive the desired amounts of profit. It also contributes to the growth of illegal drug trade in the country and similar problems. Despite these economic difficulties, the country’s GDP per capita has a stable and positive dynamics. It is presented in Fig. 3. The population’s standards of living tend to increase. Taking into account that the country’s population also increases, Colombia shows a very serious economic progress. However, the current GDP per capita is around $4,500, and it is a comparatively low level even for developing countries (Trading Economics, 2015). It means that Colombia should facilitate its economic development to reduce the gap between its economy and those of developed countries. Colombia enjoys a strong position in terms of developing alternative sources of energy. Renewable sources constitute the largest fraction of energy produced in the country. In particular, hydroelectric generation is well-developed in the country. Colombia has one of the most efficient green energy sectors in the world. However, the innovation potential in other spheres of the national economy is still low. Thus, the Colombian government tries to minimize the existing misbalances of the national economy through declining the fraction of illegal trade and balancing the interests of the private and public sectors. However, the substantial fiscal burden does not create favorable conditions for the national entrepreneurial development. Therefore, further reforms in this sphere as well as a more productive cooperation with international partners and organizations are required. State of Health The current state of health in Colombia is not optimal even in comparison with other developing countries. The current life expectancy in Colombia is equal to 78.1 years. More specifically, it is 81.0 years for women and 75.1 years for men (WHO, 2015). The major causes of deaths in Colombia include coronary heart disease (17%), violence (11%), stroke (8%), lung disease (6%), and influenza (5%). HIV/AIDS is the 19th cause of death in the country. The current healthcare expenditure per capita is $533 (The World Bank, 2015). Although it is much lower than that of the developed countries, it is better than in many neighboring developing countries. Colombia also has unsatisfactory rates of cancer development in the country. The most common types of cancer include prostate cancer (16%), breast cancer (13%), stomach cancer (13%), lung cancers (11%), and cervical cancer (9%) (WHO, 2015). In comparison with other countries, Colombia has a weak position in relation to diseases associated with other neoplasms (8.6%), and it is the third largest level of this disease in the world. Colombia has a strong position in relation to oral cancer (1.5%) and uterin cancer (1%) (WHO, 2015). The smoking percentage is 31% among males and 5% among females. This level is much lower than the average one in the world. Thus, the health state regarding smoking is satisfactory. The obesity percentage is 16.1% among males and 25.7% among females. These levels are also satisfactory in comparison with other countries of the world. However, the current happiness score based on people’s subjective assessment of their living conditions in Colombia is 6. 5, which makes it an average result compared to other countries of the world (WHO, 2015). The probability of dying between 15 and 60 is 148 per 1,000 for males and 73 per 1,000 for females. The life expectancy at birth is equal to 75 years for men and 81 years for women (WHO, 2015). In general, women have much better health in comparison with men. Malaria is a serious health problem in Colombia. The country’s population has the following epidemiological profile. 15% of the population are characterized by a high transmission (1 case per 1,000 people) and 8% of the population are characterized by a low transmission (1 case per 1,000 people) (WHO, 2015). Taking into account this situation, the national healthcare agencies should be more oriented towards preventing the occurrence of such epidemic threats in the future. Tuberculosis is also a serious problem in the country. Although its rates tend to decline, they are still below the satisfactory level. The dynamics of tuberculosis in Colombia is presented in Fig. 4 (WHO, 2015). The country has achieved a substantial progress for the previous 10 years, but the number of tuberculosis patients is still comparatively high. Violence is highly widespread in Colombia. It is the second major cause of death in the country. Moreover, the rates of violence are the seventh highest in the world (WHO, 2015). The annual number of deaths in Colombia caused by violence is equal to 18,075, and constitutes more than 10% of total deaths (WHO, 2015). The death rate is 37.6 per 100,000 of the population being among the highest in the world. One of the possible indirect causes of violence in the country is the illegal drug trade in Colombia. As the government is unable to reduce the distribution of drugs in the country, this social aspect remains almost unregulated. Criminals prefer using violent methods to achieve their objectives. Moreover, criminals often use Colombia as a center of the drug distribution to other countries and regions of the world. Road traffic accidents are also widespread in the country. They constitute the sixth major cause of deaths in Colombia. The annual number of deaths because of road traffic accidents equals to 7,813 (4.6% of the total number of deaths) (WHO, 2015). The age adjusted death rate in Colombia is 17.05 per 100,000, which makes it approximately the average level compared to other countries of the world. Culture/Traditional Medicine Culture is both diverse and well-developed in Colombia. Due to the country’s geographical location, it experiences the impact of many cultures and traditions. Both European and Native American views are widespread and coexist with one another. Moreover, in this environment, new cultural approaches are applied. The national Ministry of Culture is responsible for solving the most urgent problems in this area as well as promoting Colombian culture abroad. The national culture reflects the current social and economic trends such as globalization, migration and industrialization. Colombian culture both experiences the impact of other cultures and affects the global cultural environment. The most well-known writer from Colombia is Gabriel Garcia Marquez. He is a Nobel Prize winner and one of the most influential novelists of the 20th century. The most popular music genres in Colombia include salsa, pop, rock, cumbia, etc. Shakira is the most famous Colombian pop-singer. Colombian music is very popular in the world because an effective cooperation between the private and public sectors exist in this context. Colombian cuisine is very different from cuisines of other countries. It includes many tropical fruits, soups, unique desserts and beverages such as coffee, cholado, and juices. Football, motor racing and boxing are the most popular kinds of sports in Colombia. In general, the country is well-integrated into the global sports system. Traditional medicine is very popular in Colombia both for historical reasons and due to the comparatively low economic level of the population. Around 40% of the Colombian population relies on traditional medicine in various forms. It is the most popular kind of healthcare in the northern part of the country. Homeopathy has been recognized by the government as a legitimate system of medicine since 1905. The standardized requirements were implemented by the government in 1914 (WHO, 2015). In general, traditional medicine principles continue being highly popular in the country. They are of high demand not only among the members of the lower classes but also other social groups. Healthcare System and Delivery The healthcare system in Colombia is based on the close cooperation between the government and non-government agencies. The government performs the majority of controlling functions and organizes the work of other stakeholders. Non-governmental organizations are free to introduce innovations and realize independent projects as far as they do not contradict the existing norms and regulations. The general supervision of the healthcare industry is provided by the Ministry of Health and Social Protection of Colombia. It aims at providing the universal access to healthcare services for all Colombian citizens. It participates in all social projects that are related to healthcare issues. It tries to organize the public policy initiatives in an optimal way. The Ministry of Health and Social Protection is responsible for presenting and advocating for the national interests in the sphere of healthcare. The ministry investigates the long-term trends related to the quality of healthcare and life and designs the corresponding interventions. Colombia experiences problems with the availability of nurses in the country. The current ratio is 1 nurse per 1,000 people (The World Bank, 2015). As the Colombia’s population is equal to around 48 million people, the number of nurses is around 48,000 professionals, and this does not allow satisfying the total demand for nurses and care in the country. The fraction of physicians in the country is lower in comparison with nurses. This situation is typical for both developed and developing countries. There is no need to educate and train as many physicians as nurses due to the specific structure of demand for healthcare services. The current number of physicians is 0.7 per 1,000 people (The World Bank, 2015). It means that the current number of physicians is around 33,600 professionals in Colombia. It seems to be satisfactory and adequate regarding the existing healthcare issues and threats in the country. Colombia has a centralized system of nursing education. Licensure and similar functions are performed by the Ministry of Health and Social Protection while the nursing education is mostly organized by the Ministry of Education. In general, the government is able to regulate the performance of both of these Ministries in a way to achieve the maximum possible synergic effect. Both Ministries orient not only to the current level of healthcare needs but also to the expected future state of consumer demand. The government tries to allocate the available scarce resources rationally to promote the social well-being of the population. Colombia does not have a well-established network of healthcare organizations and tries to integrate its operations in the global healthcare system through cooperating with international nursing organizations. These include the Academy of Medical-Surgical Nurses, the Association of Child Neurology Nurses, the Emergency Nurses Association, etc. Colombia aims at expanding its cooperation with international nursing organizations. Health Priorities Colombia has several health priorities that should be addressed in the near future. It means that these issues require the close attention and the effective coordination of efforts between the public and private sectors. The first health priority is minimizing the spreading of coronary heart disease as it causes around 17% of all deaths in the country (WHO, 2015). It seems that the complex national strategy should be implemented to solve this problem. The government should increase its funding of healthcare initiatives related to dealing with the causes and effects of coronary heart disease. Consequently, healthcare providers should develop innovative mechanisms to address this problem. The second health priority is minimizing the scope of violence in the country. It is a very serious problem because violence causes around 10% of deaths in the country, and the scope of violence is among the largest in all countries of the world (WHO, 2015). This problem is not only related to health but also requires improving the existing situation with illegal drug trade and other similar problems. The third health priority is examining tuberculosis- and malaria-related threats. Currently, Colombia is able to control the transmission of these diseases, but the risk and potential social harm are very high. Therefore, close attention should be paid to the epidemiological situation in the country. The fourth health priority is addressing the problems related to men’s health as men experience higher health problems in comparison with women in all age groups (Semenic, DeBruyn, Ochoa-Marà ­n, 2014). The causes of this state of affairs should be specified (including broad econom ic and social factors), and the corresponding measures should be taken. Nursing Implications The stated health priorities will impact the overall national healthcare strategy. They are especially important for nurses as they are the ones who adjust the strategies accordingly. The first priority refers to helping patients cope with coronary heart disease. Nurses should both increase their qualification in this field and be able to identify patients’ symptoms at earlier stages. In this way, the treatment process can be improved substantially, and the overall mortality rates can be reduced. Nurses may also implement changes at the national level regarding a more active use of modern technologies. Currently, Colombia does not have the necessary amount of modern equipment especially in the northern regions of the country. If this problem is addressed, nurses may become more capable of minimizing the risks associated with coronary heart disease. The second health priority refers to violence-related issues. It seems that nurses cannot address this problem directly, but they can promote a more responsible attitude to one’s own health and that of others among the Colombian citizens. Nurses should focus on young people as they are often involved in the acts of violence (Mesurado et al., 2014). The third health priority is controlling the epidemiological situation in the country. Nurses should monitor the general epidemiological situation not only in Colombia but also other countries of Latin America (Caro Rios et al, 2014). In such a way, it is possible to identify the potential threats in advance and provide the corresponding preventive measures to the population. The fourth health priority refers to improving the health state of men as this gender group is in a disadvantaged position in the country. Nurses should identify the related problems and the ultimate causes of this tendency. In particular, drug-related issues should be addressed. Nurses should provide additional rehabilitative services for patients who require them. Thus, nurses should play a central role in addressing the selected health priorities. The close cooperation with international nursing organizations may contribute to designing an optimal long-term strategy that will take into account the interests of all parties involved as well as address all major risks and threats.

Lessons from Enron for British Business Essay Example | Topics and Well Written Essays - 2750 words

Lessons from Enron for British Business - Essay Example Another accounting gap, which was discovered from the Enron's balance sheet, was the recording of the note receivable as an asset. These were the promises to pay the equity claim in the limited partnerships, which Enron recorded as assets even though GAAP requires subscribed equity to be reported as a contra-stockholders' equity account, rather than as a note receivable. Once it was accused of GAAP violations, Enron announced it would restate the previous 4 As years of financial statements by recording a $1.2 billion reduction in stockholders' equity, adjusting its income statements and balance sheets for the unconsolidated SPEs, and making prior-period proposed audit adjustments and reclassifications that had originally been considered as immaterial. Enron's restatement reduced previously reported net income by $569 million and reduced shareholders' equity by $1.2 billion. Shortly after these announcements, several rating agencies lowered Enron's long-term debt to below-investment grade, and Dynegy terminated its proposed merger agreement with Enron. In December 2001, Enron filed for Chapter 11 bankruptcy protection. Charles Mulford, co-author of The Financial Numbers Game, says, "the accounting model isn't broken, financial reporting just needs some tweaks." The Enron used the most common off balance sheet financing technique. ... Enron's restatement reduced previously reported net income by $569 million and reduced shareholders' equity by $1.2 billion. Shortly after these announcements, several rating agencies lowered Enron's long-term debt to below-investment grade, and Dynegy terminated its proposed merger agreement with Enron. In December 2001, Enron filed for Chapter 11 bankruptcy protection. Off Balance Sheet Financing: 2nd aspect: Charles Mulford, co-author of The Financial Numbers Game, says, "the accounting model isn't broken, financial reporting just needs some tweaks." The Enron used the most common off balance sheet financing technique. Enron conducted much of its business in these entities that they controlled. They transacted with themselves. That kind of self-dealing allowed them to report profits when they weren't traditionally making a profit." (Cited in Kelcher, 2002) Definition: Off balance sheet usually means an asset or debt or financing activity not on the company's balance sheet. It could involve a lease or a separate subsidiary or a contingent liability such as a letter of credit. (Wikipedia, 2005) Can be explained as the different methods of acquiring capital by a company, which is not stated, on the financial statement of the company. The most commonly used methods of raising money which does not appear on the balance sheet is in the shape of the research and development partnerships, different kinds of lease, and Joint ventures etc. are the common methods used. Most of the companies obtain funds by using their product idea on intelligence and knowledge about any specific field and acquiring the capital from the partner. Since the partner who is providing

Lymphatic and Immune Systems Lab Report Example | Topics and Well Written Essays - 250 words

Lymphatic and Immune Systems - Lab Report Example Seroconversion is an element of the immune system. When individuals develop antibodies to HIV, medical experts say that they have seroconvert to antibody-positive from antibody-negative (Marieb & Hoehn, 2010). In a direct ELISA test, an antigen is adsorbed to a synthetic plate and then proteins, in excess, are added to stop all the other binding sites using bovine, serum or albumin (Marieb & Hoehn, 2010). In an indirect ELISA test, the steps are similar only that there is an additional step. After the antigen is adsorbed, the next antibody to be included is the antibody that identifies the antigen, unlike in a direct ELISA test. The two tests are antibodies detecting procedures (Marieb & Hoehn, 2010). However, the Western Blot test is considered as a confirmatory test because it can detect HIV early enough for a patient to receive the crucial treatment. The ELISA test is considered extremely sensitive when it comes to testing for antibodies and that it why most of its test come back positive (Marieb & Hoehn, 2010). However, the Western Blot test takes its time to establish the status of an antibody, and that is why most of its results are

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

Terrorism - Case Study Example Some of the founding members included Leroy Schweitzer, who was the head of the group, Skurdal and Daniel Petersen, and had been inspired by a former group called Posse Comitatus. Members of this group defaulted taxes and resisted the Internal Revenue Service, which auctioned most of their property to recover the taxes. However, the public feared the group and some property marked for auction remained unsold for several years (Combs, Cindy and Martin, pp. 186). The group created complicated schemes which involved filing liens worth millions of dollars against property owned by the federal or local government in Montana. This was a strategy to raise money to sustain their movement. The movement set up its own common law court and a government in Montana. The government issued arrest warrants for the members, but most of them remained in their farms, and the authorities could not arrest them. The most radical members regrouped at Clark ranch in Jordan from where they ran the movement. In 1996, the Freemen wanted to set up a radio antenna to facilitate their communication. The contracted installer was an undercover FBI agent, who lured Schweitzer and Peterson from their houses to the installation site. On reaching the site, the two Freemen were arrested by federal agents who were waiting for them. Most of the other members were arrested later and sentenced on account of several crimes. The Kurdistan Workers’ party or the PKK was founded in 1974 by Abdullah Ocalan and was initially known as the Kongra-Gel. The group, mainly composed of Turkish Kurds, began armed violence in 1984 as part of its campaign. The main objective of this movement was to establish an independent Kurdish state and government in Turkey, Northern Iraq, parts of Syria and Iran. The groups’ founder members adopted the Marxist theory as part of their liberation campaign. PKK collaborated with other militants in this region to conduct attacks against the Turkish government alongside other extremist sympathizers. The group operates in several countries and runs several training camps in Syria, Turkey, and Iraq. Their campaign involves spreading propaganda against the government, explosives and violence, sabotaging government activities, and spreading their anti-government ideologies (Balci, pp. 172). The group has been involved in several bomb attacks in Turkey, drug trafficking and kidnappings. The founder Abdullah Ocalan was arrested in 1999 and sentenced to life imprisonment. Several European countries such as France and Germany sympathize with PKK and have allowed them to open offices in their countries and offered its members support and training. The Turkish government condemns the group by referring to it as a threat to national security. Other sister organizations such as PJAK have come up and are involved in terror activities within Turkey and Iraq. PKK fighters operate from the Qandil Mountains in Iraq in a bid to limit government attacks. The Turkish government has offered the movement an opportunity to negotiate for peace, which has not been fruitful. The U.S government has been accused of giving Iraq PKK members a safe haven for the operations since the fall of Saddam Hussein (Mannes, pp. 179). The Al-Qaeda is an Islamic terror group that was founded by Osama Bin Laden in 1988. The group was founded to free Islamic countries from the profane influence of the west, especially USA and

Accounting and Finance Assignment Essay Example | Topics and Well Written Essays - 2500 words

Accounting and Finance Assignment - Essay Example For instance; in â€Å"the general theory of finances† there are two definitions of finance and accounts: 1. Finances of the socialistic state represent economical (cash) relations, with the help of which, in the way of planned distribution of the incomes and savings the funds of money sources of the state and socialistic manufactures are formed for guaranteeing the growth of the production, rising the material and cultural level of the people and for satisfying other general society requests†. 2. â€Å"Finances characterise the formation of centralized ad decentralized money sources, economical relations relatively with the distribution and usage, which serve for fulfilment of the state functions and obligations and also provision of the conditions of the widened further production†. This definition is brought without showing the environment of its action. We share partly such explanation of finances and think expedient to make some specification. The system of creation and usage of necessary funds of cash resources for guarantying socialistic widened further production represent exactly the finances of the socialistic society. And the totality of economical relations arisen between state, manufactures and organisations, branches, regions and separate citizen according to the movement of cash funds make financial relations†. Just to more simplify the term â€Å"Accounts†, Accounts are simply established to provide a record of individual business transactions as they apply to a certain area or item. Your personal checking account is established in order to provide a record of individual personal financial transactions you create when you write a check. All of the accounts are listed in a general ledger. Today, the actual ledger book has long since been replaced by accounting software that creates a general ledger on the computer. The concept however has not been altered. The general ledger is the central location for maintaining all your accounts.

Management Information Systems Essay Example | Topics and Well Written Essays - 1500 words

Management Information Systems - Essay Example etails of the problems encountered in the manually operated business, the current IT infrastructure, the business structure, the recommended IT infrastructure, a cost analysis of the recommended technology and the benefits and challenges in the implementation of the information system have been discussed in detail. Diblo Dairy Society is a business that buys and sells milk. Once the society implements a management information system, managers can easily make decisions that ensure the success of the business. Early in the morning, farmers bring their labelled milk cans that are full with milk to Diblo Dairy Society. The dairy society sets a price at which they will buy the milk from the farmers. The details of the farmer who brought the milk are recorded for instance his name and the number of litres he brought. The farmer is paid after tests have been done to make sure the milk is fresh and undiluted. If the milk is up to standard, Diblo Dairy Society records the amount of milk it has received from all the farmers in its inventory book. Diblo Dairy Society then distributes the milk to its dairies which sell milk to individuals at a profit. Milk is also sold to large companies that process and market milk and milk products. To ensure that the farmers, who are the suppliers, keep bringing milk to Diblo Dairy Society, benefits such as loans are provided. Diblo Dairy Society is headed by a Chief Executive Officer. A finance manager is in charge of all money related matters. The quality assurance manager is responsible for ensuring that the milk entering or leaving Diblo Dairy Society is fresh and up to the required standard. Diblo Dairy Society has 112 employees and therefore has a human resource manager who is responsible for recruiting staff, making sure that the employees are treated fairly, solving problems that may arise with the staff and compensating the employees for their labours. The sales and operations manager oversees the 15 attendants at Diblo Dairy

Business Models On theWeb Article Example | Topics and Well Written Essays - 500 words

Business Models On theWeb - Article Example It shows how YouTube makes its website more attractive to the owners of the content displayed on the web site. You Tube works in conjunction with Google to develop a win-win situation for the two companies. At the same time, YouTube also works with other web sites such as Vevo. As a result, it has been able to improve its balance sheet by monetizing the viewership of its video content. YouTube works very well as an advertisement site for movie marketers. This article therefore fits into the topic of online business models because it explains one of the basic models described in the article for web based business. In the paper, various articles that are related to the article on business models on the web will be analyzed in detail. The article discuses the IT based organization in the new economy. It relates to the business models due to its explanation on how the digital economy is enabling businesses to improve the efficiency of their operations. This article shows how the enterprises which started in the old economy are being revolutionized using information technology. Further, the article also shows how the internet affects the models used in business, government and the economy. The article shows the recent developments in business models such as the use of reverse auctions in bidding. Some of the governments in the modern economies have resulted to electronic bidding in order to engage their suppliers. The electronic models used to engage suppliers in the new economy are highlighted in the article, linking the two articles. Nagata, K. (2011, January 1). Digital Age Leaves Myopic Japan Facing Manufacturing Crisis. Retrieved September 21, 2011, from Japan Times Online: http://search.japantimes.co.jp/cgi-bin/nn20110101f1.html This third article by Nagata discusses business models on the web pertains to the Japanese manufacturing industry, which is threatened with failure since it failed to recognize the need for innovation

Accounting and Finance Assignment Essay Example | Topics and Well Written Essays - 2500 words

Accounting and Finance Assignment - Essay Example For instance; in â€Å"the general theory of finances† there are two definitions of finance and accounts: 1. Finances of the socialistic state represent economical (cash) relations, with the help of which, in the way of planned distribution of the incomes and savings the funds of money sources of the state and socialistic manufactures are formed for guaranteeing the growth of the production, rising the material and cultural level of the people and for satisfying other general society requests†. 2. â€Å"Finances characterise the formation of centralized ad decentralized money sources, economical relations relatively with the distribution and usage, which serve for fulfilment of the state functions and obligations and also provision of the conditions of the widened further production†. This definition is brought without showing the environment of its action. We share partly such explanation of finances and think expedient to make some specification. The system of creation and usage of necessary funds of cash resources for guarantying socialistic widened further production represent exactly the finances of the socialistic society. And the totality of economical relations arisen between state, manufactures and organisations, branches, regions and separate citizen according to the movement of cash funds make financial relations†. Just to more simplify the term â€Å"Accounts†, Accounts are simply established to provide a record of individual business transactions as they apply to a certain area or item. Your personal checking account is established in order to provide a record of individual personal financial transactions you create when you write a check. All of the accounts are listed in a general ledger. Today, the actual ledger book has long since been replaced by accounting software that creates a general ledger on the computer. The concept however has not been altered. The general ledger is the central location for maintaining all your accounts.

Business Models On theWeb Article Example | Topics and Well Written Essays - 500 words

Business Models On theWeb - Article Example It shows how YouTube makes its website more attractive to the owners of the content displayed on the web site. You Tube works in conjunction with Google to develop a win-win situation for the two companies. At the same time, YouTube also works with other web sites such as Vevo. As a result, it has been able to improve its balance sheet by monetizing the viewership of its video content. YouTube works very well as an advertisement site for movie marketers. This article therefore fits into the topic of online business models because it explains one of the basic models described in the article for web based business. In the paper, various articles that are related to the article on business models on the web will be analyzed in detail. The article discuses the IT based organization in the new economy. It relates to the business models due to its explanation on how the digital economy is enabling businesses to improve the efficiency of their operations. This article shows how the enterprises which started in the old economy are being revolutionized using information technology. Further, the article also shows how the internet affects the models used in business, government and the economy. The article shows the recent developments in business models such as the use of reverse auctions in bidding. Some of the governments in the modern economies have resulted to electronic bidding in order to engage their suppliers. The electronic models used to engage suppliers in the new economy are highlighted in the article, linking the two articles. Nagata, K. (2011, January 1). Digital Age Leaves Myopic Japan Facing Manufacturing Crisis. Retrieved September 21, 2011, from Japan Times Online: http://search.japantimes.co.jp/cgi-bin/nn20110101f1.html This third article by Nagata discusses business models on the web pertains to the Japanese manufacturing industry, which is threatened with failure since it failed to recognize the need for innovation

Does the Way Sherriff Presents Stanhope Encourage You Essay Example for Free

Does the Way Sherriff Presents Stanhope Encourage You Essay The character of Stanhope is introduced by the other characters in the play before he makes his entrance. Hardy is the Captain of another company that is about to leave the front line, and Osborne is Stanhope’s second in command. They both discuss Stanhope’s personality. Stanhope is introduced by these two characters before he comes into the play. This dramatic device is used by R. C Sheriff, is to build up the suspense before his entrance. It makes the audience want to see what Stanhope is actually like. Captain Dennis Stanhope is one of the most important characters in the play. R. C Sheriff uses him to show the struggles and strains of life in the front line. He presents him as a brave character, a character to be admired, however, not all the time. In the play we learn very little of Dennis Stanhopes character as a man, but much more of his character as a soldier. One reason for this is that he is the commander of ‘Infantry Company C’, thus has to appear strong, composed and above all, in charge–all the time. He feels that he must be very dedicated to his work and present a stern but fair front to the rest of the men. It is important for him to do this as he has only been a commander for a year and is relatively young, as he is just 21 years old. Another reason why we see very little of his character as just a man, is that he has been fighting in the war for a long time ‘Nearly three years. He came out straight from school– when he was eighteen’. This has hardened him and he is much more used to the war as an everyday reality, and because of this he has found ways to cope with the stress and horror of war. He uses drink to forget about his life at home and the atrocious war surrounding him. He relies on drink, a lot. He drinks almost all the six bottles of whisky they brought with them in just three days, ‘The last bottle! Why, damn it, we brought six! ’ He is able to admit to his drinking problems and why it is that he drinks so much: ‘If I went up those steps into the front line– without being doped with whisky– Id go mad with fright’. His drinking is no secret, all the men are aware of it and accept it, some of them even joke about it, ‘How is the dear young boy? Drinking like a fish, as usual? ’ I think this makes the audience feel more at ease with Stanhope, as throughout Journey’s End he is a regimented character. The audience realises everyone has weaknesses, even Stanhope, a company-commander. The way Stanhope handles the arrival of Raleigh and his letters shows how much stress he is under. Stanhope is under the impression that Raleigh will write badly of him in his letters to his sister, Madge. He is very wary of Raleigh and is very concerned Raleigh will say bad things about him (as Stanhope and Madge are ‘unofficially engaged’). He doesn’t want him to tell her how ‘He reeks of whisky all day’. He doesn’t think that he’s ‘A damned little swine whod deceive his sister. ’ As a result of this, he decides to censor Raleighs letters. When he eventually gets to read the letter to Madge from Raleigh, he is rather embarrassed to find that the aggravation he has caused was about nothing, and Raleighs letter was solely full of praise for Stanhope. This is definitely a part in the play where there is a comprehension needed for the audience’s liking of Stanhope. â€Å"But I tell you – there’s nothing – Dennis – I’m –† (Raleigh), Stanhope’s response is certainly not sympathetic: â€Å"Don’t ‘Dennis’ me! Stanhope’s my name! You’re not at school! Go and inspect your rifles! † However there is another aspect to at it from, this showing of temper doesn’t necessarily make the audience think any less of Stanhope. It can make him seem more human, not everyone’s always perfect. We can understand why he has done this to an extent because of the enormous amount of stress he is under. After Osborne reads those letters, Stanhope appears to be very remorseful – he lowers his head, pauses, murmurs, finally walking off – hastily. This letter is an insight to what the men really think of him. ‘Then I went on duty in the front line and a sergeant told me all about Dennis. He said that Dennis is the finest officer in the battalion and the men simply love him. ’ Bear in mind there are roughly one-thousand two-hundred soldiers in a battalion and for Stanhope to be considered the best; this really shows Stanhope’s character. He’s not just hero-worshiped by Raleigh; he’s hero-worshiped by most of his men. He then writes, ‘He hardly ever sleeps in the dug-out; he’s always up in the front line with the men, cheering them on with jokes, and making them keen about things, like he did the kids at school. ’ This letter conveys nothing, but good about Stanhope. It portrays him as a determined, supportive, and sympathetic character – I don’t think that can be taken away from him. I think R. C Sheriff has done a superb job at making Captain Stanhope a character to be admired; he uses both subtle and powerful devices to make it clear what Stanhope is like and he is clearly an admirable character. There are possibly some parts of this play which could change one’s attitude toward Stanhope, but mainly due to him drinking. His drinking habits are to blame. But his personality never changes. He’ll always stay determined, disciplined and supportive of his men. To conclude, I think R. C Sherriff has used to Stanhope to show the struggles and strains of life in the front line. He presents him as a brave character, a character to be admired – a true war hero!

Financial Statement Analysis of Hilton Worldwide Holdings

Financial Statement Analysis of Hilton Worldwide Holdings Company Overview HiltonWorldwide Holdings Inc.is one of the largest and fastest growing hospitality companies in the world. The company is correctly positioned in the industry. We expect Hilton to grow at about 6.92% the same rate as its competitor and to maintain the median returns it currently generates. Hilton has relatively high profit margins while operating with median asset turns. Hiltons year-to-year change in revenues and earnings are better than that of its competitor. Hiltons revenue growth in recent years and current P/E ratio are both around their respective peer medians suggesting that historical performance and long-term growth expectations for the company are largely in sync. Analytical Conclusion Although the hospitality industry can get volatile Hilton Worldwide will continue to make strides as the company has a dedicated team coupled with an award winning portfolio and tailor made strategies for each hotel. Hence, the company will continue its operations for years to come. While Hilton has little control over external shocks, the company has the ability to adapt to its competitors, both old and new in all 104 countries and regions. Hilton worldwide is fairly valued. The company is currently valued at $19.07 billion with an anticipated value of $19.70-20B. Summary Financials Price (Sale):2.63(BV):3.21Float: 192.69M Debt to Equity: 184.85 52 Week Trading Range: 41.55 60.40Insider Holdings: N/A Current Ratio: 1.33 Cash: 1.42B Equity: 5.89 B P/E trailing: 54.77 Exchange: NYSEProfit Margin: 4.82% P/E forward: 27.65 Market Cap: 19.18BOperating Margin: 28.07% Shares Outstanding: 329.73MROE: 6.17% Selected Financials FY 12/31 2018 2017 2016 2015 2014 2013 2012 Revenue 9.66B 8.88B 11. 66B 11. 27B 10.50B 9.74B 9.28B Net Income 743M 571 M 348M 1.4B 673M 415M 352M EPS (Basic) 2.06 1.74 1.06 4.26 2.04 1.35 1.14 EPS (Diluted) 2.06 1.74 1.05 4.26 2.04 1.35 1.14 P/E 28.22 33.25 21.59 30.65 34.40 33.82 35.98 Company Highlights Net loss for the fourth quarter was $382 million, and net income for the full year was $364 million. Diluted loss per share was $1.17 for the fourth quarter, largely driven by $513 million of non-cash corporate restructuring charges incurred prior to the spin-offs, and diluted EPS was $1.05 for the full year. Added 354 hotels to its system in 2016, opening nearly one hotel per day in the year. Completed spins-offs of Hilton Grand Vacations (HGV) and Park Hotels and Resorts (PK) Hilton launched its newest brand the Tapestry Collection by Hilton. Description Hilton is one of the largest and fastest growing hospitality companies in the world, with a portfolio of 14 world class brands comprising over 4,900 properties with more than 800,000 rooms in 104 countries and regions. Hilton is committed to fulfilling its mission to be the worlds most hospitable company by delivering exceptional experiences at every hotel, to every guest, every time. Hilton was founded in 1919 by Conrad Hilton when he purchased his first hotel in Texas, Hiltons is the most recognized hotel brand in the world. Hiltons operate its business across three segments: ownership; management and franchise; and timeshare. Hiltons strategy focuses on providing service and cost models tailored to each hotel, reflecting size, business complexity, and market environment. Hilton provide appropriate levels of engagement depending on each hotels needs, by ensuring hotel owners are fully engaged in decision-making. This consolidated approach means Hilton maximize cost and scale effici encies, by sharing best practice, market and trend intelligence and ensuring appropriate affordability to each hotel. For example: Hilton refine its luxury brands to deliver products and service standards that are relevant to each region. Hiltons operations are mainly concentrated in the United States, however, it has its presence in the international markets such as in Europe, the Middle East and Africa, and in the Asia Pacific region. Operations Hilton operates its business across three segments namely; ownership, management and franchise, and timeshare. Ownership Hilton is one of the largest hotel owners in the world based on the number of rooms at the companys leased, owned and joint venture properties. Hiltons diverse global portfolio of owned and leased properties includes a number of prominent hotels in major cities such as New York City, San Francisco, London, Chicago, SÃ £o Paolo and Tokyo. Hiltons portfolio includes renowned hotels with significant underlying real estate value, by the end of 2016, the ownership segment had 141 hotels with 57,716 rooms. In recent years Hilton has expanded its hotel system less through real estate investment and more by increasing the number of management and franchise agreements the company has with third-party hotel owners. Hilton focuses on maximizing profitability and cost efficiency of all its portfolios by, reducing fixed costs and implementing new labor management practices and systems. For instance, Hilton has developed and executed strategic plans for each of its hotels to enhance the market po sition of each property. At many of its hotels Hilton has renovated guest rooms and public spaces and added or enhanced meeting and retail space to improve profitability. At certain of its hotels, Hilton is evaluating options for the adaptive reuse of all or a portion of the property to residential, retail or timeshare uses. Management and Franchise Hiltons management and franchise segment enables the company to manage timeshare properties and hotels and license its trademarks to franchisees. Hilton currently manages 4,734 hotels with 738,724 rooms. Therefore, this segment generates its revenue primarily from fees charged to homeowners, hotel owners and associations at timeshare properties. Hilton grows its management and franchise business by attracting owners to become a part of its system and participate in its brands and commercial services to support their hotel. On Hiltons part, these contracts require little or no capital investment to initiate and provide substantial return on investment for Hiltons. Hiltons primary management services consist of operating hotels under management contracts for the benefit of third parties, who either own or lease the hotels. Hilton earns an incentive fee based on gross operating profits and a management fee based on a percentage of the hotels gross revenue. For a fee Hilton franchise its trade, brand names, operating systems and service marks to hotel owners. Hilton does not directly participate in the daily operation or management of franchised hotels but its conducts periodic inspections to ensure that brand standards are maintained. Hilton approves certain aspects of development and the location for new construction of franchised hotels, in some cases, Hilton also provides the franchise with product improvement plans that must be completed in accordance with brand standards to remain in Hiltons hotel system. Timeshare Hiltons timeshare segment generates revenue from three primary sources: Resort Operations, Timeshare Sales, and Financing. Hilton market and sell timeshare interests owned by Hilton and third parties. The company sells timeshare intervals on behalf of third-party developers using the Hilton Grand Vacations brand. Through resort operations Hilton manages the Hilton Grand Vacations (HGV) Club, receiving annual dues, enrollment fees, and transaction fees from members. Hiltons also provides consumer financing, which includes interest income generated from the origination of consumer loans to customers to finance their purchase of timeshare intervals and revenue from servicing the loans. Strategy Since Hilton Worldwide was founded, the company has been among the top hospitality companies in the industry. In fact, after almost 100 years it is considered one of the largest and fastest growing corporations with the goal to deliver outstanding customer experiences and excellent operating performance. Hiltons business strategy is based on its service differentiation, the company distinguishes itself from its competitors by providing high quality service combining it with IT systems. According to Dudovki, (2016), Hilton has been focusing its strategy on digitalizing mobile services, booking channels, loyalty and data driven-personalization, and also improving guest experience and privacy. Enhanced service offering is at the forefront of Hilton strategy. In order to allocate more of customers travel spending to Hilton hotels, and consequently to enhance customer loyalty for the entire system of hotels and timeshare properties, the team created Hilton Honors Loyalty Program. The program rewards guests with points for each stay at any of Hiltons more than 4,900 hotels worldwide. Members can use the points earned for free hotel nights and other goods and services; moreover, it is possible to spend the points with 130 partners, among which car rental, rail, and airlines companies, credit card providers and others. The loyalty program contributed over $17 billion in terms of revenues as reported at the end of the year 2016. Another strategy employed by Hilton is premium pricing. Hilton utilizes the premium pricing policies for its upscale services and hotels. The pricing strategy is established to emphasize, among customers, the sense of status and luxury rather than the sense of stay and dining. Through the analysis of previous performance and strategies they provide to manage future profitability. For instance, they engage with sales teams for hotels with significant group/corporate business, to ensure corporate pricing structure is maximized throughout the RFP process. The management of Hilton believe every Hilton Worldwide property has its own unique strengths and challenges. As such they provide service and cost models tailored to each hotel, reflecting business complexity, size, and market environment. Hilton matches its service to the needs of the clients hotel, Hilton management believes that one size fits all. This consolidated approach means that Hilton maximize cost and scale efficiencies, rapidly sharing best practice, market and trend intelligence and ensuring appropriate affordability to each hotel. Hilton have focused on optimizing hotels market share and delivering market-beating revenue per available room (RevPAR) results. Hiltons team provides thorough analysis of previous performance and strategies to drive future profitability. Management Hilton Executive Committee is characterized by key personnel with diverse backgrounds who were able to bring the company to the prominence it now enjoys in the hospitality industry. Among those executive are Hiltons President and Chief Executive Officer, Christopher J. Nassetta. Nassetta has been one of the most important figure in the Hilton family since 2007. With a degree in finance, Nassetta has always been close to the hospitality industry and real estate market. In fact, he worked as President and Chief Executive Officer at Host Hotels Resorts, Inc. since 2000, and before he was Chief Development Officer for The Oliver Carr Company, one of the largest commercial real estate company in the Mid-Atlantic region. He is also involved in several non-profit organizations and volunteering. Another central leader in this profitable company is its Executive Vice President Chief Financial Officer, Kevin Jacobs. He began his experience at Hilton in 2008 covering various positions. He is now responsible of the companys global finance, information technology and real estate functions. As his President, Jacobs has a background in the hospitality industry working for other Hotels and Resorts corporations. Jim Holthouser joined Hilton board as Vice President of Global Brands in 1979. He directs the brand management and customer marketing across nine consumer brands for more than 4,000 hotels. With over 20 years of experience in the restaurant, lodging, and gaming industries, Holthouser has held a series of senior management positions within Hilton in the franchising, branding, and marketing arenas. The above mentioned key personnel are veterans in their own right with experience in hospitality and related industries, Hiltons executive team is well-positioned to accelerate its momentum. Hiltons executives collectively make a holistic team because they are from diverse background and shares common interests and values as such they all able to contribute to the holistic growth and development of Hilton Worldwide. Markets The hospitality industry is seasonal. It is common for Hilton and the other competitors to expect lower revenues in the first quarter of each year. According to Statista the global hotel industry in 2016 was valued at $490.06 billion. Reports by Financial Morningstar.com indicate that Hilton Worldwide is ranked among the largest player in the global hotel industry, Hilton and Marriott have the highest market share. They are followed by Wyndhams, Choice Hotels and International Hotels Groups. The global hotel industry is fragmented. There is no single company in a position to influence or dominate the industry as no company holds more than 5% of the global market shares. Hilton is growing quickly, as it has the highest global market share by room supply of approximately 4.7%. Hiltons operations are mainly concentrated in the United States, but it has started to increase its presence in the international market. Hilton has a higher market share of 9.3 % in the United States, it has a r elatively small share of 3% in other regions in the Middle East and Africa, 1.6 % in Europe, and 1.2 % in the Asia Pacific region. Hilton faces a strong competition as a hotel, resort, residential, and timeshare manager, franchisor, developer and owner. The hotel and lodging industry inspects several elements in terms of competition, such as the attractiveness of the facility, location, quality of accommodations, amenities, level of service, room rate, public and meeting spaces and other guest services, consistency of service, brand reputation and the ability to earn and redeem loyalty program points through a global system. Hilton principal competitors on a global scale are Marriott International, Accor S.A., Carlson Rezidor Group, MÃ ¶venpick Hotels and Resorts Hongkong and Shanghai Hotels, Hyatt Hotels Corporation, Intercontinental Hotel Group, and Wyndham Worldwide Corporation. Financial Analysis and Projections Financial History 2014-2015 Hilton Worldwide generates revenue from three business segments namely ownership, management and franchise and timeshare which accounts for the companys strong financial results. For fiscal year ending 2015 total revenue increased from $10,505,000,000 in 2014 to 1$1,272,000,000 in 2015, showing a growth of 6%. This positive revenue is attributed to recovery in the economy. Likewise, cost of revenue also increased from $4,029,000,000 in 2014 to $4,065,000,000. These cost of revenue are consistent with the companys portfolio expansion. However as a percentage revenues, cost of revenues decreased by 2% in 2015 which is a reflection of the companys extensive cost reducing strategy, meanwhile the companys gross profit margins increased by 2.27% in 2015. The companys selling and administrative, non-recurring, and other expenses as a percentage of revenues has shown slight increases over the past two years, which is consistent with expansions. However, the company was able to compress the cost of expenses so that these cost did not increase by more than the increase in revenues. On a per share basis, earnings showed a significant increase from $2.04 in 2014 to $4.26 in 2015, this represented an increase in performance. The companys net profit increased by 5.59% to 1,404,000,000 up from 673,000, 000, as Hilton launched its 13th brand, Tru by Hilton. Hiltons performance was as a result of the increase in revenues from owned and leased hotels in all segments and regions, with occupancy and rate increases in all regions except Middle East and Africa. Hiltons economic growth continued to drive performance, as global RevPAR increased from 3 to 5 percent. Hilton achieved record expansion and financial results in 2015 and continues to lead th e industry as the largest, best-performing and fastest-growing hospitality company. Fiscal Year ended 2016 The fiscal year ended 2016 was a record-breaking year for Hilton as the company increased its system size by 6.6% with 52,000 gross rooms opened, nearly one hotel per day was opened a total 354 hotels and started construction on nearly 77,000 rooms. The first quarter of the fiscal year 2016, was the slowest quarter for Hilton as they reported revenues of $2,750,000, 000, a 5% decrease over the corresponding period for 2015. The second quarter was the strongest quarter of the entire year, with a 9.9% revenue growth over the previous quarter. Revenues saw a consistent decline over the two last quarters. Net income for the first quarters of the 2016 was $ 309,000,000, a 48.5% increase over the corresponding period the previous year. However the company saw a significant reduction in net income over the three last quarters, and even posted a net loss in fourth quarter of 2016, the net loss was $382 million compared to net income of $816 million for the previous period in, 2015. During the fourth quarter of 2016, Hilton incurred a tax charge of $513 million related to a corporate restructuring executed before the spin-offs, resulting in a net loss for the period. For the fourth quarter of 2016, diluted loss per share was $1.17 compared to diluted earnings per share of $2.47 for the fourth quarter of 2015. For the fiscal year 2016, diluted EPS was $1.05 compared to $4.26 for the previous year. Net income was $364 million for the full year 2016 compared to $1,416 million for the fiscal year 2015, a 74% reduction. The companys performance for fiscal year 2016 reflect the effects of the spin-off of Park Hotels Resorts Inc. and Hilton Grand Vacations Inc. which was completed in January 2017. Consolidated Income Statement and Projections Common Size Expected Common Size Expected Common Size Actual Actual Actual All numbers in thousands Revenue 12/31/2018 12/31/2017 12/31/2016 12/31/2015 12/31/2014 Total Revenue 100% 9,661,440 100% 8,880,000 100% 11,663,000 11,272,000 10,502,000 Cost of Revenue 35.00% 3,381,504 35% 3,108,000 34.71% 4,048,000 4,065,000 4,019,000 Gross Profit 65.00% 6,279,936 65.00% 5,772,000 65.29% 7,615,000 7,207,000 6,483,000 Operating Expenses Selling General and Administrative 42.00% 4,057,805 40.00% 3,552,000 43.40% 5,062,000 4,741,000 4,182,000 Non-Recurring 0.09% 9,000 0.17% 15,000 0.13% 15,000 9,000 9,000 Others 5.88% 568,093 6.00% 532,800 5.88% 686,000 692,000 628,000 Total Operating Expenses Operating Income or Loss 1,645,039 1,672,200 1,861,000 2,071,000 1,673,000 Income from Continuing Operations Total Other Income/Expenses Net 4.50% 434,764.8 1.00% 88,800 0.15% -18,000 283,000 73,000 Earnings Before Interest and Taxes 21.53% 2,079,803 19.83% 1,761,000 15.79% 1,842,000 2,071,000 1,765,000 Interest Expense 5.00% 483072 5.00% 444,000 5.03% 587,000 575,000 618,000 Income Before Tax 13.00% 1,255,987.2 11.83% 1,050,600 10.76% 1,255,000 1,496,000 1,147,000 Income Tax Expense 5.00% 483072 5.00% 444,000 7.64% 891,000 80,000 465,000 Minority Interest 0.40% 38645.76 0.40% 35,520 0.43% 50,000 34,000 38,000 Net Income From Continuing Ops 8.00% 772,915.2 6.00% 532,800 3.05% 356,000 1,427,000 692,000 Net Income 7.60% 734269.44 6.43% 571,080 2.98% 348,000 1,404,000 673,000 Net Income Applicable To Common Shares 734,269.44 571,080 348,000 1,404,000 673,000 EPS Diluted 2.09 1.74 1.06 1.35 1.14 Average Share 350,000 329,000 329,730 1,040,000 590,350 Projections for Next Two years Current Fiscal year ending December 2017 As Hilton separate into three distinct, publicly traded company, in order to unlock growth opportunities and to take advantage of the capital market and tax efficiencies, there seems to be a dim outlook for the upcoming year. Experts project that revenues growth will decrease by 23.80% to 8.88 billion down from 11.66 billion in 2016. This expected decline in growth is not expected to translate in a reduction in overall EPS, as EPS, are expected to increase from $1.06 to $1.74. In fiscal 2017 the company plans to roll out its new simplified business model: A market leading fee-based business as over 90% of Hiltons revenue comes from franchise fee and management fee. This new business model is expected to generate significant revenues as the company continues to lead the industry in net unit growth without significant use of capital. Hilton intends to aggressively invest to drive revenues and manage risk. With the enhanced capabilities developed through the 354 hotels added in 2016 and the completion of a further 77,000 rooms. In addition, the company is expected to drive per unit growth due to the launch of its newest brand, Tapestry Collection by Hilton and extensive management contracts with large luxury hotels in countries such as China. However, general and administrative expense, non-recurring expenses and other expenses are projected to be flat compared to fiscal year 2016. Net profit is project to increase by 3.45% to 571,080 million. For the fiscal year ending December 2017, Hilton expects total revenue from continuing operations to increase by more than 20% up 88 million compared to the $18 million loss in 2016. Net unit growth is expected to be roughly 50,000 to 55,000 rooms as such system-wide RevPAR is projected to increase anywhere from 1 to 3 percent compared to 2016. For the fiscal year 2017 cash available for capital return and debt prepayments is projected to be between $900 million and $1 billion. Likewise, capital expenditures for the year, excluding amounts reimbursed by hotel owners, are estimated to be between $150 million and $200 million. Fiscal Year Ending December 2018 For the fiscal year ending December 2018, revenue are projected to increase by an average of 8.80 %, up to $9.67 billion, while earnings are expected to grow to an average of 2% to roughly $2.08 billion, showing positive prospects of continued growth. The earnings per shares are expected to show a corresponding increase from $1.74 to $2.08. Hilton is expected to drive leading investment returns to hotel owners, as hotel owners continue to invest in Hiltons system growth. Hilton is also expecting its market-leading growth to be amplified by its new brands that will bring new customers into its system and offers more opportunities for its existing customers to stay with the company. Capitalization and Other Asset and Liability Analysis During fiscal year 2016, in preparation for the spin-offs, Hilton entered into a series of financing transactions, of which the debt incurred by HGV and Park is the sole obligation of those entities after the spin-offs. Hilton entered into a $200 million senior secured term loan facility for HGV, the company also entered into a $750 million senior unsecured term loan facility for Park and issued two new commercial mortgage-backed securities (CMBS) loans for Park totaling $2 billion. The company also repaid $250 million on the senior secured term loan facility entered into in 2013. Finally the company borrowed $300 million on the revolving non-recourse timeshare financing receivables credit facility entered into in 2013 for HGV. Also during the fourth quarter of 2016, Hilton repaid the outstanding balance of $3,418 million on a CMBS loan entered into in 2013 and a $450 million mortgage loan, using net proceeds from 2016 borrowings and available cash. As of December 31, 2016, Hilton had $10.2 billion of long-term debt outstanding, of which $3.0 billion is transferred to Park and $0.5 billion is transferred to HGV in connection with the spin-offs. As of December 31, 2016, total cash and cash equivalents was $1,684 million, net receivables was $1.15 billion, inventory amounted to 541 million and other current assets was 176 million. In December 2016, Hilton paid a quarterly cash dividend of $0.07 per share on outstanding common shares, a total of $70 million, bringing total cash dividends paid in 2016 to $277 million. Hilton ended 2016 with property plant and equipment valued $8,930 million, goodwill of $5,822 million, intangible asset of $6,374 million, and other assets of $334 million the company also had deferred long term asset charge of 117 million. Hiltons total asset increased by 495 million to $26,211 million up from $25, 716 million in 2015. At the end of the 2016 the Hiltons had a working capital of $873 million, this indicates that the company has the ability to pay its short term liabilities. The current ratio is 1.33:1, which is also an indication of the companys ability to honor its short term obligations as they fall dues. Hiltons has $2,684 in total current liabilities, $20,312 million in total liabilities and total stockholders equity of $5,899 million and decrease of 52 million over the same pe riod in 2015. Projections indicate that along with Hilton s new simplifies business model and the separation of the three companies, the current capitalization structure Hilton should be profitable without the need for excess borrowing. Balance Sheet for year ended 31, December 2016 All numbers in thousands Current Assets $ Current Liabilities $ Cash And Cash Equivalents 1,684,000 Accounts Payable 2,513,000 Net Receivables 1,156,000 Short/Current Long Term Debt 171,000