Porters Five Force Model free essay sample

Porter’s Five-Force Model and International Strategies Porter’s Five-Force model is a tool used for strategic analysis of a particular market sector. Its name comes from the five factors that, according to Porter, serve as an aid in determining how attractive a market sector is for potential investors, emerging firms as well as the existing players. â€Å"One can measure the industry’s attractiveness for entry and exit, analyze competitive trends, and plot future strategy. † (Stahl Grigsby, 1997, p. 45). It allows organizations to see what risks as well as benefits accompany functioning within the sector. The forces include: Supplier Power, Threat of Substitutes, Threat of New Entrants, Buyer Power, and Rivalry. The model should be a vital part of an organization’s business plan. If it is trying to enter a new, international market, it needs to have an understanding of what difficulties and challenges it is going to face. Knowledge is power and tha t is exactly what the Five-Force model offers. We will write a custom essay sample on Porters Five Force Model or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The proper generic strategy will position the firm to leverage its strength and defend against the adverse effects of the five forces. † (â€Å"Porter’s Five Forces: A Model for Industry Analysis,† n. d. ). Its role doesn’t end once a firm enters a market. It allows existing entities to keep track of the changes taking place in their industries and gives them a competitive advantage over those that do not see the trends by having more time to adjust and embrace the trends. Porter’s model does not include all the forces present in the market. It does not take under considerations things such as companies forming alliances, leading to an advantage over those not included. It also does not consider sudden changes in markets due to unpredictable events such as a natural disaster causing a shortage of supplies or a discovery of a new technology that can fundamentally alter either one of the forces or the entire market. It includes only the forces Porter considered as having the most impact and the model is to be used only as a framework of a more detailed and insightful market analysis. References Stahl, M. J. , Grigsby, D. W. (1997). Strategic management: total quality and global competition. Oxford, UK: Wiley-Blackwell. Porter’s Five Forces: A Model for Industry Analysis. n. d. Retrieved August 7, 2011 from QuickMBA. com: http://www. quickmba. com/strategy/porter. shtml

The Good Gone Bad essays

The Good Gone Bad essays A famous quote by Mahatma Gandhi states, You assist an evil system most effectively by obeying its orders and decrees. An evil system never deserves such allegiance. Allegiance to it means partaking of the evil. A good person will resist an evil system with his or her whole soul. However, Gandhi also observed that Mans nature is not essentially evil. The validity of both these statement can be keenly observed through William Goldings novel Lord of the Flies. At the beginning of the novel, a group of boys who are stranded on an island are forced to build a society in order to survive. Two main boys are Simon and Jack. Simon is a very quiet yet strong minded boy, while Jack is very power-hungry and mean. As the novel progresses and the island gets less civilized evil starts to appear among the boys, except in one, who finds the will to resist. William Golding contrasts the characters of Simon and Jack, in order to show that deep inside man is good, but man becomes evil and power -hungry. Through Simons actions, William Golding sets Simon up to be strong and unselfish to show that man is good. Simon is a very unique character in this novel, and he does things that others dont normally do. For instance, one day Ralph, who was feeling let down from the other leader Jack, yells to Jack, And I work all day with nothing but Simon and you come back and dont even notice the huts! (54). In this part in the novel Ralph and Simon worked all day on the shelters alone, while Jack hunted. Simon was the only one to step up and help Ralph when he needed it, and without even being asked to do so. This shows Simons and mans good-hearted nature, as he puts himself above the rest because of his unselfish acts of kindness. Simon not only helps out others, but he takes time to himself to enjoy the good things nature provides. As Simon wanders off alone to seek a qu...

Report Plan Essay Example | Topics and Well Written Essays - 500 words - 1

Report Plan - Essay Example The basic objective is to formulate the thoughts of various segments of the society in consolidated report. In the last few months or so the right to keep a gun has confronted major debate at national level. The government, law enforcement agencies, civil society, human rights associations and the general public all have forwarded their arguments on the issue and now is the time to reach some conclusion. The report will target conclusions on the issue through in depth analysis of all the arguments surfaced during the Gun Control debate at national level. The report will strive to formulate a national thought and to avoid various controversial arguments surfaced recently on the issue . These controvertial argument can distract the focus of the authorities from the core issue and may cause damage to the national harmony. One such argument reads, â€Å"The possible passage of new restrictions on firearms and the return of military veterans facing significant challenges reintegrating into their communities could lead to the potential emergence of terrorist groups or lone wolf extremists capable of carrying out violent attacks† (Joe, 2012). There is a need to review all such assumptions as military veterans is common phenomenon all over the world. The report will discuss and highlight the various aspect of the issue in a comprehensive manner without targeting one or the other segment of the society. Various governmental and non governmental organizations will be contacted directly, general public arguments will be collected through open debates and polls. Statistical information will be saught from Police, Arm Control departments etc. Moreover the generl public also be accessed from online sources to make the report interesting and useful. The basic criteria for the report will be based upon the accuracy and correctness of

Wildlife and Landscape Survey Essay Example | Topics and Well Written Essays - 5000 words - 1

Wildlife and Landscape Survey - Essay Example This plan has been made keeping in view the Moorlands of UK) Background Efficiently managing Moorland through limited burning and grazing can create a variety of natural habitats crucial for nature conservation. It also provides perfect nesting and feeding for a range of native birds. All of this comes along with the availability of perfect grazing grounds for farm animals and domestic livestock. Introduction Well maintained moorlands can serve multiple purposes. Many economic and environmental benefits can be drawn out of them. They can serve as water catchments, an important element in the prevention of floods and as recreational sites. Monitoring Moorlands will need commitment from the farmers that own those lands. It would be better to get them to sign a contract as this will help us in managing the moors according to our objectives and return they will get nicely maintained moorland that can serve for their grazing animals. Plan of Action Cutting and Burning A technique called r otational burning will be used wherever the cutting method won’t be helpful. A tactic to use when choosing which method to apply to the land is; low dwarf heath shrub cover will not be used for rotational burning. This includes the area intense in bracken. Heath (Dry) The areas including dry heath vegetation will be rotationally burnt in proportion to the area they cover measured in number of hectares. An estimate basis, an area of 30 hectares will be rotationally burnt for a period of 20 years. This ratio actually depends on the nature of the contract with the owner of the land. For areas that are home for birds of prey or have rare vegetation will need a different plan of action, especially regarding the rotatory burning. Generally such circumstances call for prolonged burning rotation but a final decision will be made after examining those rare plants and animals. Blanket Bog This is the layer of vegetation that covers the peat deeper than normal vegetation layer. When bur ning this portion, special attention and care is required as carelessness can damage the useful peat. Moreover, we need the peat to maintain surface vegetation for proper plant growth. It makes sense in understanding that in many areas blanket bog itself is not burnt at all as there is no need to do so or in some cases for conserving nature or for the management of a wider portion of land. While in some areas, where heather still covers the peat it is still desirable to burn the area for conservation purposes. In short wherever burning is necessary, it must be made sure that no part of sensitive vegetation is destroyed or a delicate piece of land is damaged. Heath (Wet) Just like the dry heath, care must be taken while burning the area covered by wet heath, to make sure that this process may not damage any sensitive vegetation or delicate cover on the land or the peat itself. Generally a rotational burning period of 20 years is feasible with a maximum area of 30 hectares with annual burning of 30 hectares in a year on average. This arrangement can be varied depending on the specific needs of the land. Burning Precautions Generally there are some precautions that need to be taken when burning land for Moorland management. 1. Burning process can only be carried out in areas of land where the heather cover is 50% or more and heather itself is 30cm/Ft. or more height wise. And all of this must be consistent with the burning process agreed upon in the contract. (To measure the Heather height, place the measuring stick down into the plant and not stretching out the plant. The height of heather will vary depending upon altitude and the growth speed of moors. 2. It will be decided beforehand that what amount (proportion) of land will be burnt in the course of

Individual Midterm essay exam- Great Britain Example | Topics and Well Written Essays - 500 words

Individual Midterm exam- Great Britain - Essay Example When one focuses on how Weiner discussed about multiculturalism in Great Britain, it gives interesting and insightful perspectives. In the chapter titled â€Å"Great Britain†, Weiner goes to the city of Slough, which is located near London in U. K. In association with BBC, Weiner conducts a happiness experiment in Slough by taking around fifty volunteers and making them part of an twelve weeks happiness regime. Apart from finding the results and interpreting it, Weiner makes certain key inputs regarding multiculturalism. At the outset, he brings out how multiculturalism has given both advantages and disadvantages to Slough and Great Britain as a whole. Great Britain is home to people from various ethnicities and that has given certain advantages particularly in the enrichment of cuisine, but has also led to certain socio-political issues. Slough, like much of Britain, is multicultural. On the one hand, this welcome news. The immigrants have spiced up bland British cuisine, as well as the bland British personality. On the other hand, this influx of immigrants has brought problems. Most notably, Islamic terrorists (Weiner 326-327). Although, Weiner’s latter perspective of how immigration has led to Islamic terrorism might be controversial, it cannot be totally overlooked. On the other hand, as mentioned above, influx of immigrants has accentuated the diversity of the country and has even contributed to a better understanding of cultures of other countries. That is, as immigrants from other countries are living in high numbers in many localities in Great Britain, including in Slough, it provides the native British people more opportunities to interact and socialize with them thereby understanding and appreciating other cultures more. Weiner even goes to the extent of stating that by being in Slough and experiencing

Juarez Drug Cartel Philosophy and Culture

Juarez Drug Cartel Philosophy and Culture A counterculture will always be a subculture that instead of following the larger societys norms they refuse to have the same belief and value set as the larger society. This group establishes their own set of norms and beliefs (Thomas 39). Countercultures have existed for hundreds of years all over the world. Some have been a complete failure while others have managed to carry on and lead their movement worldwide. It is no doubt that these countercultures are considered rebels in the eyes of the larger society. One of Mexicos most well-known countercultures is the Juarez Drug Cartel. The Juarez Drug Cartel is a criminal organization in charge of some of the drug trade in Mexico. In recent years, this cartel has expanded its criminal offenses from not only drug trafficking but to also conducting kidnapping and human trafficking operations (Unknown). All as a means to continue revolutionizing their movement. The Juarez Drug Cartel which may also be referred to as the Vicente Carrillo Fuentes Organization in honor of its leader, is mainly located in the city of Juarez which is in the state of Chihuahua. It began to develop in the 1980s after the Guadalajaras cartel leader, Miguel Angel Felix Gallardo was arrested. Rafael Aguilar Guajardo, the individual who was an associate of the Guadalajaras cartel, presumed the authority to control Ciudad Juarez (city of Juarez) after the notorious arrest. Shortly after for unknown circumstances, Aguilar Guajardo was killed in 1993 and one of his right hand men, Amado Carrillo Fuentes, aka El Senor de los Cielos (Lord of the Skie s), undertook control of the beginnings of the cartel. Under his control, half of Mexican trafficking took place and his trafficking expanded to Central America and South America. (Unknown). The Juarez Cartel had quite an operational system going on. It was in charge of moving tons of cocaine from Colombia into Mexico by means of air and then disbursing it into the United States by land. Carrillo Fuentes died in 1997 and his brothers, Vicente and Rodolfo took control. Part of the reason as to why this cartel developed into a well-established criminal organization was because they worked closely with corrupt local and state law enforcement. These municipal forces have allowed not only the Juarez Cartel, but many other cartels to continue their criminal misdemeanors. The cartel was able to use small armies of their own to protect themselves and their territories. One of the cartels small army is the Linces, which consists of former individuals from the Armys Special Forces. In October 9, 2014 Vicente Carrillo Fuentes was arrested by Mexican government officials (Unknown). It is reasonable to say that this cartel has weakened its powers due to new criminal organizations developing but still to this day it has remained in Mexicos territories still carrying on criminal operations of their own. Upon researching any counterculture, it is important to understand two main terms in order to properly analyze the information. Sociological perspective is a term that is basically used to inform an individual that they must be able to understand the outlook of others and the meanings behind their actions, all in effort to broaden ones views (Thomas 4).ÂÂ   The sociological perspective can also help one understand how they as an individual are shaped by their social environment (Thomas 5). With this said, one can attempt to understand that the Juarez Cartels actions have significantly affected ones views. For example, whenever one mentions the drug trade most people think about drug trafficking coming into the United States from Mexican drug cartels, which of course all ties into our understanding of the sociological perspective. The sociological perspective is another term used in sociology which attempts to make it be known that an individual has the ability to see how their p ersonal life is in a sense attached to the larger world (Thomas 5). With this being said, the Juarez Drug Cartel has significantly deteriorated the Mexican republic. Mexican officials have had a long term drug war against the cartels. Since 2009, more than 7,000 people have fallen victim to this long going war. The cartels have attempted to force the government to end this drug war once and for all by literally terrorizing the citizens. The cartel is even attacking corporations. Pemex, which is a state-owned petroleum company has had many kidnapping and theft coming from not only the cartels but also from employees who work alongside the cartels. The cartels are terrorizing the nation to the point where the amount of vehicle armoring production has increased due to security measures that individuals are seeking. In Mexico City alone there has been a 25% increase of armored cars whereas in the rest of the country there has been 60% which of course signifies how great of a fear the ca rtels are causing (Duff). It has been noticeable how the perception of Mexico has been viewed negatively in the most recent years. The problem is so severe that foreign direct investment is not the same anymore. AmCham surveyed a questionnaire where 27% of correspondents noted that for security issues in Mexico they would think twice on whether investing in Mexico (Duff). Their actions have greatly affect Mexicos society and economic progress. Ethnocentrism is the belief that everyone elses culture is inferior and that ones culture is superior above all (Thomas 35). The Juarez Drug cartel is considered a counterculture because it is not something that everyone wishes to do. There are individuals in Mexico living in a state of poverty who under no circumstances would ever consider turning to the criminal organization. There are others who are desperately trying to make ends meet and feel as if they have no other option. Either way, the larger society does not agree with a criminal organization killing, kidnapping, or terrorizing the public. It is something that is not considered acceptable mostly when cartels are doing it for money and drugs. The Juarez Drug cartel and other cartels are giving a message to the youth of Mexico that anyone can leave the poverty state and have it all, which of course violates the views of the citizens. Cultural relativism is the belief that a culture should not be judged by ones standards but by the countercultures instead (Thomas 36). One must be able to understand why a counterculture group behaves in the manner in which they do. The Juarez Drug Cartel continues to do what they do because they find themselves in competition against other cartels in the control of narcotics and territories (Cartels at War: Mexicos Drug-Fueled Violence and the Threat to U.S. National Security ). One of the most prestigious men in the drug organization, Joaquin Guzman Loera, mentioned that poverty was what drove him to turn to the drug trade industry. He mentioned that there were never any job opportunities even today, so for money to be acquired for food, one had to turn to growing marijuana. He mentioned that there was not and there still is not a way that exists that can help individuals survive or contribute to the economy (Lombardi). Of course these are words coming from a drug lord, but it put s into perspective how the Mexican government has yet to counterattack these words with actions. Young adolescents living in poverty are now being recruited by drug trafficking organizations due to such a great lack of opportunity in the country (Ramsey). It is estimated that there was an increase of poverty in Mexico between 2012 and 2014 by two million (Rama). People are becoming more and more desperate and the cartels are simply trying to do something that the government is not doing (jobs) even if it their reasons are morally wrong. In rural communities, the drug industry has been able to recruit many in joining the criminal organization. It is estimated that the majority of laborers are employed by no other than by the narcotics industry (Jones). The Juarez Drug Cartel is a counterculture that has revolutionized into an escape for many citizens. Based on research found on the Juarez Drug Cartel, the majority of individuals would agree that the Juarez Drug Cartels philosophy is not right and that it should not continue. This drug organization is giving false hopes to many of Mexicos impoverished individuals who do not seem to notice that the instant in which they are agreeing to join the drug trade, they are signing up for a life or death situation every day. Since the 1980s, the Juarez Drug Cartel has been terrorizing the nation with its drug trade. Its practices have established them as a counterculture. They have grown their organization to the point where so much corruptness exists that even local and state police are being a part of this countercultures wrongfully practices. References Kan, Paul. Cartels at War: Mexicos Drug-Fueled Violence and the Threat to U.S. National Security . Washington D.C. : Potomac Book, 2012. 27. Book. Duff, Devon and Rygler, Jen. Drug Trafficking, Violence and Mexico. 26 January 2011. Knowledge at Wharton University of Pennsylvania. Web. 08 03 2017. Jones, Michael K E. The Effects of the Mexican Drug Trade over the Past Sixty Years. 05 October 2014. E-INTERNATIONAL RELATIONS STUDENTS. Web. 06 March 2017. Lombardi, Daniel. Does poverty lead to drug trafficking? The worlds notorious trafficker says yes. 14 January 2016. Desert News U.S. World. Web. 09 March 2017. Rama, Anahi and Yukhananov, Anna. Mexican government says poverty rate rose to 46.2 percent in 2014. 23 July 2015. Reuters. Web. 08 March 2017. Ramsey, Geoffrey. Poverty a Recruitment Tool for Mexicos Criminal Gangs. 20 July 2011. InSight Crime. Web. 08 March 2017. Thomas, W. LaVerne. Sociology: The Study of Human Relationships. Austin: Hull, Rinehart, Winston, 2003. Textbook. Unknown. Juarez Cartel. 17 November 2015. InSight Crime. Web. 06 March 2017.

Pascals Wager and Global Warming :: Climate Change, Greenhouse Gases

Since measurements began in 1958 -- and it can be assumed to have been the case since the industrial revolution -- emission of carbon dioxide into the atmosphere has risen steadily as a result of the burning of fossil fuels (Quay, pp 2344). Although there is much argument over the implications of increasing carbon dioxide levels in the atmosphere, there are several points that almost all scientists would agree on: firstly, carbon dioxide acts to absorb radiated heat; if present in our atmosphere will do just that to some extent. Second, the concentration of carbon dioxide in our atmosphere is rising. Third, the temperature of the planet is rising - although the amount of this increase and the causes of this rise are subject to disagreement (Philander, pp 193). When I was at school in Vermont, one of my teachers explained to me Pascal's Wager. According to this teacher, the philosopher and mathematician Pascal had tried to establish the costs and benefits of believing in God. He saw it in this way: you can either believe in God or not. If you do believe in God, and there is in fact no God, then you will perhaps have spent some extra energy unnecessarily abstaining from certain pleasures and wasting your Sunday mornings in Church, but overall you did not give up too much. And, it could be argued, you may have actually treated your fellow men more kindly then you would have otherwise. If, however, there is a God, and you believed in him, then you get eternal salvation. On the other hand, you could choose not to believe in God. If there is no God, then you are fine. You can sin all you like, you can allow yourself transgressions and forbidden acts, and the only punishments you will face will be those of this life. If, however, you lived thusly and there is a God, then you face an eternity of torture and unbearable misery. So, Pascal reasoned, one would do best to believe in God and act accordingly. That way, if you're wrong, the worst thing that could happen is that you were more pious and caring then you may have otherwise been. If you do not believe in God and you turn out to be wrong, the risks become terrifying. My teacher suggested that I apply this same logic to global warming. It is a matter of playing the odds.

Assessing Compnay’s Financial Health

Assessing a Company's Future Financial Health Assessing the long-term financial health of a company is an important task for management in its formulation of goals and strategies and for outsiders as they consider the extension of credit, long- term supplier agreements, or an investment in a company’s equity. History abounds with examples of companies that embarked upon overly ambitious programs and subsequently discovered that their portfolios of programs could not be financed on acceptable terms.The outcome frequently was the abandonment of programs in mid-stream at considerable financial, organizational, and human cost. It is the responsibility of management to anticipate future imbalance in the corporate financial system before its severity is reflected in the financials, and to consider corrective action before both time and money are exhausted. The avoidance of bankruptcy is an insufficient standard. Management must ensure the continuity of the flow of funds to all of it s strategically important programs, even in periods of adversity.Figure A provides a conceptualization of the corporate financial system, with a suggested step-by- step process to assess whether it will remain in balance over the ensuing 3-5 years. The remainder of this note discusses each of the steps in the process and then provides an exercise on the various financial measures that are useful as part of the analysis. The final section of the note demonstrates the relationship between a firm’s strategy and operating characteristics, and its financial characteristics.Professor Thomas Piper prepared the original version of this note, â€Å"Assessing a Firm’s Future Financial Health,† HBS No. 201-077, which is being replaced by this version prepared by the same author. This note was prepared as the basis for class discussion. Copyright  © 2010, 2011 President and Fellows of Harvard College. To order copies or request permission to reproduce materials, call 1-80 0-545- 7685, write Harvard Business School Publishing, Boston, MA 02163, or go to www. hbsp. harvard. edu/educators.This publication may not be digitized, photocopied, or otherwise reproduced, posted, or transmitted, without the permission of Harvard Business School. 911-412Assessing a Company's Future Financial Health Figure AThe Corporate Financial System Goals Step 1Strategy Market, Competitive Technology Regulatory and Operating Characteristics Step 2Revenue Outlook †¢growth rate †¢volatility, predictability Step 3Step 4 Investment in AssetsEconomic Performance †¢to support growth†¢profitability †¢improvement/deterioration in asset management cash flow †¢volatility, predictability Step 5Step 6 External Financing NeedTarget Sources of Finance †¢$ amount†¢lending/investing criteria †¢timing, duration †¢deferability †¢attractiveness of firm to each target source Step 7 Viability of 3-5 Year Plan †¢consistency with goals â € ¢achievable operating plan †¢achievable financing plan Step 8 Stress Test for Viability Under Various scenarios Step 9 Financing and Operating Plan for Current Year Steps 1, 2: Analysis of FundamentalsThe corporate financial system is driven by the goals, business unit choices and strategies, market conditions and the operating characteristics. The firm’s strategy and sales growth in each of its business units will determine the investment in assets needed to support these strategies; and the effectiveness of the strategies, combined with the response of competitors and regulators, will 2 Assessing a Company's Future Financial Health911-412 strongly influence the firm’s competitive and profit performance, its need for external finance, and its access to the debt and equity markets.Clearly, many of these questions require information beyond that contained in a company’s published financial reports. Step 3: Investments to Support the Business Unit(s) Stra tegy(ies) The business unit strategies inevitably require investments in accounts receivable, inventories, plant ; equipment, and possibly, acquisitions. Step 3 of the process is an attempt to estimate the amount that will be tied up in each of the asset types by virtue of sales growth and the improvement/deterioration in asset management.An analyst can make a rough estimate by studying the past pattern of the collection period, the days of inventory, and plant ; equipment as a percent of cost of goods sold; and then applying a â€Å"reasonable value† for each to the sales forecast or the forecast of cost of goods sold. Extrapolation of past performance assumes, of course, that the future underlying market, competitive and regulatory â€Å"drivers† will be unchanged from the conditions that influenced the historical performance. Step 4: Future Profitability and Competitive PerformanceStrong sustained profitability is an important determinant of (1) a firm’s acce ss to debt and/or equity finance on acceptable terms; (2) its ability to self-finance growth through the retention of earnings; (3) its capacity to place major bets on risky new technologies, markets, and/or products; and (4) the valuation of the company. A reasonable starting point is to analyze the past pattern of profitability. 1. What have been the average level, trend and volatility of profitability? 2. Is the level of profitability sustainable, given the outlook for the market and for competitive and regulatory pressures? . Is the current level of profitability at the expense of future growth and/or profitability? 4. Has management initiated major profit improvement programs? Are they unique to the firm or are they industry-wide and may be reflected in lower prices rather than higher profitability? 5. Are there any â€Å"hidden† problems, such as suspiciously high levels or buildups of accounts receivable or inventory relative to sales, or a series of unusual transactio ns and/or accounting changes? Step 5: Future External Financing NeedsWhether a company has a future external financing need depends on (1) its future sales growth; (2) the length of its cash cycle; and (3) the future level of profitability and profit retention. Rapid sales growth by a company with a long cash cycle (a long collection period + high inventories + high plant ; equipment relative to sales) and low profitability/low profit retention is a recipe for an ever- increasing appetite for external finance, raised in the form of loans, debt issues, and/or sales of shares. Why?Because the rapid sales growth results in rapid growth of an already large level of total assets. The increase in total assets is offset partially by an increase in accounts payable and accrued expenses, and by a small increase in owners’ equity. However, the financing gap is substantial. For example, the company portrayed in Table A requires $126 million of additional external finance by the end of y ear 2010 to finance the increase in total assets required to support 25% per year sales growth in a business that is fairly asset intensive. 3 911-412Assessing a Company's Future Financial Health Table A |Assuming a 25% Increase in Sales ($ in millions) | | | | | | |Assets |2009 |2010 | |Cash |$ 12 |^ 25% |$ 15 | |Accounts receivable |240 |^ 25% |300 | |Inventories |200 |^ 25% |250 | |Plant ; equipment | 400 |^ 25% | 500 | |Total |$852 | |$1,065 | | | | | | |Liabilities and Equity | | | | |Accounts payable |$100 |^ 25% |$ 125 | |Accrued expenses |80 |^ 25% |100 | |Long-term debt |272 |Unchanged |272 | |Owners’ equity | 400 |footnote a | 442 | |Total |$852 | |$ 939 | |External financing need | 0 | | 126 | |Total |$852 | |$1,065 | a It is assumed (1) that the firm earns $60 million (a 15% return on beginning of year equity) and pays out $18 million as a cash dividend; and (2) that there is no required debt repayment in 2010. If, however, the company reduced its sales growth to 5% (and total assets, accounts payable and accrued expenses increased accordingly by 5%), the need for additional external finance would drop from $126 million to $0.High sales growth does not always result in a need for additional external finance. For example, a food retailer that extends no credit to customers, has only eight days of inventory, and does not own its warehouses and stores, can experience rapid sales growth and not have a need for additional external finance provided it is reasonably profitable. Because it has so few assets, the increase in total assets is largely offset by a corresponding, spontaneous increase in accounts payable and accrued expenses. Step 6: Access to Target Sources of External Finance Having estimated the future financing need, management must identify the target sources (e. g. banks, insurance companies, public debt markets, public equity market) and establish financial policies that will ensure access on acceptable terms. 1. How sound is the fi rm’s financial structure, given its level of profitability and cash flow, its level of business risk, and its future need for finance? 2. How will the firm service its debt? To what extent is it counting on refinancing with a debt or equity issue? 3. Does the firm have assured access on acceptable terms to the equity markets? How many shares could be sold and at what price in â€Å"good times†? In a period of adversity? 4. What criteria are used by each of the firm’s target sources of finance to determine whether finance will be provided and, if so, on what terms? 4 Assessing a Company's Future Financial Health911-412The evaluation of a firm’s financial structure can vary substantially depending on the perspective of the lender/investor. A bank may consider a seasonal credit a very safe bet. Considerable shrinkage can occur in the conversion of inventory into sales and collections without preventing repayment of the loan. In contrast, an investor in the f irm’s 20-year bonds is counting on its sustained health and profitability over a 20-year period. Step 7: Viability of the 3-5 Year Plan 1. Is the operating plan on which the financial forecasts are based achievable? 2. Will the strategic, competitive, and financial goals be achieved? 3. Will the resources required by the plan be available? 4.How will the firm’s competitive, organizational, and financial health at the end of the 3-5 years compare with its condition at the outset? Step 8: Stress Test under Scenarios of Adversity Financing plans typically work well if the assumptions on which they are based turn out to be accurate. However, this is an insufficient test in situations marked by volatile and unpredictable conditions. The test of the soundness of a 3-5 year plan is whether the continuity of the flow of funds to all strategically important programs can be maintained under various scenarios of adversity for the firm and/or the capital markets—or at least be maintained as well as your competitors are able to maintain the funding of their programs.Step 9: Current Financing Plan How should the firm meet its financing needs in the current year? How should it balance the benefits of future financing flexibility (by selling equity now) versus the temptation to delay the sale of equity by financing with debt now, in hopes of realizing a higher price in the future? The next section of this note is designed to provide familiarity with the financial measures that can be useful in understanding the past performance of a company. Extrapolation of the past performance, if done thoughtfully, can provide valuable insights as to the future health and balance of the corporate financial system.Historical analysis can also identify possible opportunities for improved asset m a n a g e m e n t or margin i m p r o v e m e n t , as well as provide an important, albeit incomplete, basis for evaluating the attractiveness of a business and/or the effective ness of a management team. Financial Ratios and Financial Analysis The three primary sources of financial data for a business entity are the income statement, the balance sheet, and the statement of cash flows. The income statement summarizes revenues and expenses over a period of time. The balance sheet is the list of what a company owns (its assets), what it owes (its liabilities), and what has been invested by the owners (owners’ equity) at a specific point in time.The statement of cash flow categorizes all cash transactions during a specific period of time in terms of cash flows generated or used for operating activities, investing activities, and financing activities. The focus of this section is on performance measures based on the income statements and balance sheets of SciTronics—a medical device company. The measures can be grouped by type:(1) 5 911-412Assessing a Company's Future Financial Health profitability measures, (2) activity (asset management) measure s, (3) leverage and liquidity measures. Please refer to the financial statements of SciTronics as shown in Exhibits 1 and 2 at the end of the note.As you work through the questions that follow, please also consider three broad questions: 1. What is your assessment of the performance of SciTronics during the 2005-2008 period? 2. Has its financial strength and its access to external sources of finance improved or weakened? 3. What are the 2-3 most important questions you would ask management as the result of your analysis? Sales Growth Sales growth is an important driver of the need to invest in various type assets and of the company’s value. It also provides some indication of the effectiveness of a firm’s strategy and product development activities, and of customer acceptance of a firm’s products and services. 1.During the four-year period ended December 31, 2008, SciTronics’ sales grew at a % compound rate. There were no acquisition or divestitures. Prof itability Ratio: How Profitable Is the Company? Profitability is a necessity over the long-run. It strongly influences (1) the company’s access to debt; (2) the valuation of the company’s common stock; (3) the willingness of management to issue stock; and (4) the capacity to self-finance. One measure of profitability of a business is its return on sales, measured by dividing net income by net sales. 1. SciTronics’ profit as a percentage of sales in 2008 was %. 2. This represented an increase/decrease from % in 2005.Management and investors often are more interested in the return earned on the funds invested than in the level of profits as a percentage of sales. Companies operating in businesses requiring very little investment in assets often have low profit margins but earn very attractive returns on invested funds. Conversely, there are numerous examples of companies in very capital-intensive businesses that earn miserably low returns on invested funds, despit e seemingly attractive profit margins. Therefore, it is useful to examine the return earned on the funds provided by the shareholders and by the â€Å"investors† in the company’s interest-bearing debt.To increase the comparability across companies, it is useful to use EBIAT (earnings before interest but after taxes) as the measure of return. The use of EBIAT as the measure of return also allows the analyst to compare the return on invested capital (calculated before the deduction of interest expense), with the company’s estimated cost of capital to determine the long-term adequacy of the company’s profitability. EBIAT is calculated by multiplying EBIT (earnings before interest and taxes) times (1—the average tax rate). EBIT x ? 1 ? tax rate? Owners? equity plus interest bearing debt 3. SciTronics had a total of $_ of capital at year-end 2008 and earned before interest but after taxes (EBIAT) $ during 2008.Its return on capital was % in 2008 which r epresented an increase/decrease from the % earned in 2005. 6 Assessing a Company's Future Financial Health911-412 From the viewpoint of the shareholders, an equally important figure is the company’s return on equity. Return on equity is calculated by dividing profit after tax by the owners’ equity. Profit after taxes Owners? equity Return on equity indicates how profitably the company is utilizing shareholders’ funds. 4. SciTronics had $_ of owners’ equity and earned $_ after taxes in 2008. Its return on equity was % an improvement/deterioration from the % earned in 2005. Activity Ratios: How Well Does the Company Employs Its Assets?The second basic type of financial ratio is the activity ratio. Activity ratios indicate how well a company employs its assets. Ineffective utilization of assets results in the need for more finance, unnecessary interest costs, and a correspondingly lower return on capital employed. Furthermore, low activity ratios or deterior ation in the activity ratios may indicate uncollectible accounts receivable or obsolete inventory or equipment. Total asset turnover measures the company’s effectiveness in utilizing its total assets and is calculated by dividing total assets into sales. Net sales Total assets Total asset turnover for SciTronics in 2008 can be calculated by dividing $ into $ .The turnover improved/deteriora ed from times in 2005 to times in 2008. It is useful to examine the turnover ratios for each type of asset, as the use of total assets may hide important problems in one of the specific asset categories. One important category is accounts receivables. The average collection period measures the number of days that the company must wait on average between the time of sale and the time when it is paid. The average collection period is calculated in two steps. First, divide annual credit sales by 365 days to determine average sales per day: Net credit sales 365 days Then, divide the accounts r eceivable by average sales per day to determine he number of days of sales that are still unpaid: Accounts receivable Credit sales per day SciTronics had $ invested in accounts receivables at year-end 2008. Its average sales per day were $ during 2008 and its average collection period was _days. This represented an improvement/deterioration from the average collection period of days in 2005. A third activity ratio is the inventory turnover ratio, which indicates the effectiveness with which the company is employing inventory. Since inventory is recorded on the balance sheet at cost (not at 7 911-412Assessing a Company's Future Financial Health ts sales value), it is advisable to use cost of goods sold as the measure of activity. The inventory turnover figure is calculated by dividing cost of goods sold by inventory: Cost of goods sold Inventory 3. SciTronics apparently needed $ of inventory at year-end 2008 to support its operations during 2008. Its activity during 2008 as measured by the cost of goods sold was $_ . It therefore had an inventory turnover of times. This represented an improvement/deterioration from times in 2005. An alternative measure of inventory management is days of inventory, which can be calculated by dividing cost of goods sold by 365 days to determine average cost of goods sold per day.Days of inventory is calculated by dividing total inventory by cost of goods sold per day. A fourth and final activity ratio is the fixed asset turnover ratio which measures the effectiveness of the company in utilizing its plant and equipment: NetsalesNet fixed assets 4. SciTronics had net fixed assets of $ and sales of $ in 2008. Its fixed asset turnover ratio in 2008 was times, an improvement/deterioration from times in 2005. Leverage Ratios: How Soundly is the Company Financed? There are a number of balance sheet measures of financial leverage. The various leverage ratios measure the relationship of funds supplied by creditors to the funds supplied by owners.The use of borrowed funds by reasonably profitable companies will improve the return on equity. However, it increases the riskiness of the business and the riskiness of the returns to the stockholders, and can result in financial distress if used in excessive amounts. The ratio of total assets divided by owners’ equity is an indirect measure of leverage. A ratio, for example, of $6 of assets for each $1 of owner’s equity indicates that $6 of assets is financed by $1 of owners’ equity and $5 of liabilities. 1. SciTronics’ ratio of total assets divided by owners’ equity increased/decreased from at year –end 2005 to at year-end 2008.The same â€Å"story† of increasing financial leverage is told by dividing total liabilities by total assets. 2. At year-end 2008, SciTronics’ total liabilities were % of its total assets, which compares with % in 2005. Lenders—especially long-term lenders—want reasonable assuranc e that the company will be able to repay the loan in the future. They are concerned with the relationship between a company’s debt and its total economic value. This ratio is called the total debt ratio at market. Total liabilities Total liabilities ? market value of the equity The market value of the equity is calculated by multiplying the number of shares of common stock outstanding times the market price per share. 8Assessing a Company's Future Financial Health911-412 3. The market value of SciTronics’ equity was $175,000,000 at December 31, 2008. The total debt ratio at market was . A fourth ratio that relates the level of debt to economic value and performance is the times interest earned ratio. This ratio relates earnings before interest and taxes—a measure of profitability and of long-term viability—to the interest expense—a measure of the level of debt. Earnings before interest and taxes Interest expense 4. SciTronics’ earnings befor e interest and taxes (operating income) were $_ in 2008 and its interest charges were $ . Its times interest earned was times.This represented an improvement/deterioration from the 2005 level of times. A fifth and final leverage ratio is the number of days of payables. This ratio measures the average number of days that the company is taking to pay its suppliers of raw materials and components. It is calculated by dividing annual purchases by 365 days to determine average purchases per day: Annual purchases 365 days Accounts payable are then divided by average purchases per day: Accounts payable Average purchases per day to determine the number of days purchases that are still unpaid. It is often difficult to determine the purchases of a firm.Instead, the income statement shows cost of goods sold, a figure that includes not only raw materials but also labor and overhead. Thus, it often is only possible to gain a rough idea as to whether or not a firm is becoming more or less depende nt on its suppliers for finance. This can be done by tracking the pattern over time of accounts payable as a percent of cost of goods sold. Accounts payable Cost of goods sold 5. SciTronics owed its suppliers $ at year end 2008. This represented % of cost of goods sold and was an increase/decrease from % at year end 2005. The company appears to be more/less prompt in paying its suppliers in 2008 than it was in 2005. 6.The financial riskiness of SciTronics increased/decreased between 2005 and 2008. Liquidity Ratios: How Liquid is the Company? The fourth basic type of financial ratio is the liquidity ratio. These ratios measure a company’s ability to meet financial obligations as they become current. The current ratio, defined as current assets divided by current liabilities, assumes that current assets are much more readily and certainly convertible into cash than other assets. It relates these fairly liquid assets to claims that are due within one year—the current liab ilities. 9 911-412Assessing a Company's Future Financial Health Current assets Current liabilities 1.SciTronics held $ of current assets at year-end 2008 and owed $ to creditors due to be paid within one year. Its current ratio was , an increase/decrease from the ratio of at year-end 2005. The quick ratio or acid test is similar to the current ratio but excludes inventory from the current assets: Current assets ? Inventory Current liabilities Inventory is excluded because it is often difficult to convert into cash (at least at book value) if the company is struck by adversity. 2. The quick ratio for SciTronics at year-end 2008 was _, an increase/decrease from the ratio of at year-end 2005. Profitability RevisitedManagement can â€Å"improve† its return on equity by improving its return on sales and/or its asset turnover and/or by increasing its financial leverage as measured by total assets divided by owners’ equity. ROE ? Net Income x Sales Sales Total Assets Total As sets x Owners? Equity Each method of â€Å"improvement† differs operationally and in terms of risk. 1. The improvement in SciTronics’ return on equity from 8. 2% in 2005 to 18. 7% in 2008 resulted from an increase/decrease in its return on sales; and an increase/decrease in its asset turnover, and an increase/decrease in its financial leverage. A WarningThe calculated ratios are no more valid than the financial statements from which they are derived. The quality of the financial statements should be assessed and appropriate adjustments made, before any ratios are calculated. Particular attention should be placed on assessing the reasonableness of the accounting choices and assumptions embedded in the financial statements. The Case of the Unidentified Industries The preceding exercise suggests a series of questions that may be helpful in assessing a company’s future financial health. It also describes several ratios that are useful in answering some of the questi ons, especially if the historical trend in these ratios can be reasonably extrapolated.However, it is also important to compare the actual absolute value with some standard to determine whether the company is performing well. Unfortunately, there is no single current ratio, inventory turnover, or debt ratio that is appropriate to all industries. The operating and competitive characteristics of the company’s industry greatly influence its investment in the various types of assets, the riskiness of these investments, and the financial structure of its balance sheet. 10 Assessing a Company's Future Financial Health911-412 Try to match the five following types of companies with their corresponding balance sheets and financial ratios as shown in Exhibit 3. 1. Electric utility 2. Japanese automobile manufacturer 3. Discount general merchandise retailer 4.Automated test equipment/systems company 5. Upscale apparel retailer In doing the exercise, consider the operating and competitiv e characteristics of the industry and their implications for (1) the collection period; (2) inventory turnover; (3) the amount of plant and equipment; (4) the profit margins and profitability; and (5) the appropriate financing structure. Then identify which one of the five sets of balance sheets and financial ratios best match your expectations, given the difficult economic conditions in 2009. 11 911-412Assessing a Company's Future Financial Health Exhibit 1SciTronics, Inc. Consolidated Income Statements 2005-2008 ($ in thousands) 20042005200620072008 | | | | | | |Sales |$115,000 |$147,000 |171,000 |$205,000 |$244,000 | |Cost of goods sold | | 43,000 | 50,000 | 63,000 | 74,000 | |Gross margin | |104,000 |121,000 |142,000 |170,000 | |Research ; development | |15,000 |20,000 |26,000 |28,000 | |Sell, general ; administrative | | 79,000 | 92,000 | 106,000 | 116,000 | |Operating income | 10,000 |9,000 |10,000 |26,000 | |Interest expense | | 1,000 | 2,000 | 2,000 | 2,000 | |Profit before tax | |9,000 |7,000 |8,000 |24,000 | |Income tax | |4,000 | 2,000 | 3,000 | 10,000 | |Net income | |$ 5,000 |$ 5,000 |$ 5,000 |$14,000 | Exhibit 2SciTronics, Inc. Consolidated Balance Sheet at December 31, 2005-2008 ($ in thousands) | | | | | | |2005 |2006 |2007 |2008 | | | | | | | |Cash |$ 9,000 |$ 10,000 |$ 15,000 |$ 18,000 | |Accounts receivable |42,000 |53,000 |61,000 |66,000 | |Inventories |21,000 |28,000 |30,000 |29,000 | |Other current assets | 10,000 | 13,000 | 21,000 | 20,000 | |Total current assets |82,000 |104,000 |127,000 |133,000 | |Net property ; equipment |9,000 |12,000 |13,000 |18,000 | |Other | 2,000 | 2,000 | 6,000 | 8,000 | |Total assets |$93,000 |$118,000 |$146,000 |$159,000 | | | | | | | |Notes payable |$ 3,000 |$ 18,000 |$ 8,000 |$ 10,000 | |Accounts payable |5,000 |6,000 |7,000 |6,000 | |Accrued expenses |10,000 |13,000 |21,000 |28,000 | |Other current liabilities | 3,000 | 3,000 | 4,000 | 4,000 | |Total urrent liabilities |21,000 |40,000 |40,000 |48,000 | |Lo ng-term senior debt |10,000 |9,000 |8,000 |7,000 | |Subordinated convertible debt |– |– |20,000 |20,000 | |Other liabilities |1,000 |3,000 |7,000 |9,000 | |Owners’ equity |61,000 |66,000 |71,000 |85,000 | |Treasury stock |– |– |– |(10,000) | |Owners’ equity | 61,000 | 66,000 | 71,000 | 75,000 | |Total liabilities and equity |$93,000 |$118,000 |$146,000 |$159,000 | 12 Assessing a Company's Future Financial Health911-412 Exhibit 3Unidentified Industries Balance Sheet Percentages ABCDE Cash1. 5%14. 4%12. 1%13. 3%11. 0% Receivables4. 63. 830. 939. 811. 8 Inventories1. 824. 613. 74. 716. 7 Other current assets2. 04. 35. 03. 810. 0 Property and equipment (net)74. 549. 634. 122. 120. 3 Other assets 15. 6 3. 4 4. 3 16. 3 30. 2 Total assets100%100%100%100%100% Notes payable5. 3%0. 4% 5. 4%18. 2%1. 4% Accounts payable2. 124. 811. 0 8. 38. 8 Other current liabilities5. 917. 014. 28. 716. 5 Long-term debt33. 610. 034. 323. 121. 7 Other liabilitie s26. 32. 211. 25. 62. 0Owners’ equity 26. 8 45. 6 23. 9 36. 1 49. 6 Total100%100%100%100%100% Selected Ratios Net profit/net sales10. 3%1. 5% 5. 1%1. 3%(5. 8%) Return on capital 6. 8%9. 2%12. 6%0. 9%(3. 1%) Return on equity12. 5%10. 8%28. 1%2. 2%(7. 6%) Sales/total assets . 323. 251. 31. 63 . 65 Collection period (days)5248623243 Days of inventory43326231147 Sales/net property ; equipment. 436. 73. 82. 93. 6 Total assets/equity3. 732. 194. 192. 792. 01 Total liabilities/total assets. 73. 54. 76. 66. 50 Interest-bearing debt/total capital 59%19% 62%53% 32% Times interest earned3. 2 16 6. 0 4. 4NM Current assets/current liabilities . 671. 112. 011. 221. 85 13

10 Tips for Getting a Staff Writing Job

10 Tips for Getting a Staff Writing Job 10 Tips for Getting a Staff Writing Job 10 Tips for Getting a Staff Writing Job By Mark Nichol Chances are that your job involves some writing, but perhaps demonstrating that skill doesn’t constitute enough of your workload, or it’s not the type of writing you’d like to do. Or perhaps you’re still in college, or have a job that doesn’t involve writing any more complicated than signing your time sheet. Regardless of your situation, at least some of the following tips will help lead you toward the writing job you want. 1. Develop a portfolio of college or continuing-education writing projects that resemble the work you would like to do professionally, and distribute it, or samples from it, to people who work at a company or in a profession that interests you. 2. Blog about your passions, on your own blog or someone else’s. Again, emulate the kind of writing you want to get paid to do. 3. Find people who do what you want to do for a living and volunteer to do some writing for them to supplement, not to pass off as, their own assignments. 4. Submit articles to a local publication or to a website for a nonprofit organization with a mission or an area of interest that appeals to you. If they can’t pay you, offer to write for them anyway (at first). 5. Obtain an internship in a professional field you’d like to be part of, and persist in asking people you report to for writing assignments until they comply just to get you out of their office. Make yourself indispensable so that when a writing position is created or becomes vacant, managers will think of you. 6. Get an entry-level job in a company or organization that sells or does something you like, and act like an intern. And, just as an intern should, become the person known for stepping up and solving problems so that your name comes up when a writing-job vacancy appears. 7. To help you develop your skills, study the publications you desire to contribute to or familiarize yourself with the types of documents you wish to write. 8. At informational interviews, ask what people in the interviewees’ positions look for when they assign or accept content, and refer them to your blog or another online source of samples of your writing and ask if they can spare some time later for a brief critique. 9. Volunteer for a group or organization that supports or otherwise is integral to the profession you want to work in. Offer to be a chapter secretary or outreach coordinator or webmaster/website content manager all jobs that require writing. 10. Start out as a freelance writer (search this site for those keywords for information and advice), and ask your clients to let you know about job openings at their company or elsewhere in the industry. 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 Freelance Writing category, check our popular posts, or choose a related post below:Grammar Test 1Do you "orient" yourself, or "orientate" yourself?Educational vs. Educative

Chemistry Laboratory Safety Rules

Chemistry Laboratory Safety Rules Some rules are not made to be broken- especially in the chemistry lab. The following rules exist for your safety and should always be followed. Always Follow the Instructions ​Your instructor and lab manuals are your best resources when setting up. Always listen and read carefully. Dont start a lab until you know all of the steps, from start to finish. If you have questions about any part of a procedure, get the answer before starting. Do Not Pipette by Mouth - Ever​ You say, But its only water. Even if it is, how clean do you think that glassware really is? Using disposable pipettes? Lots of people only rinse them and put them back! Learn to use the pipette bulb or automated pipetter. Dont pipette by mouth at home, either. Gasoline and kerosene should be obvious, but people get hospitalized or die every year. You might be tempted to use your mouth to start the suction on a waterbed to drain it. Do you know what they put in some waterbed additives? Carbon-14. Mmmm...radiation. The lesson is that even seemingly harmless substances may be dangerous! Read the Chemical Safety Information ​​A Material Safety Data Sheet (MSDS) should be available for every chemical you use in the  lab. Read  and follow the recommendations for safe use and disposal of every material. Dress Appropriately (For Chemistry Lab, Not Fashion or the Weather)​ No sandals, no clothes you love more than life, no contact lenses, and, to keep your legs safe, long pants are preferable to shorts or short skirts. Tie long hair back. Wear safety goggles and a lab coat. Even if you arent clumsy, someone else in the lab probably is. If you take even a few chemistry courses you will probably see people set themselves on fire, spill acid on themselves, others, or notes, splash themselves in the eye, etc. Dont be the bad example to others. Identify the Safety Equipment Learn your  safety equipment  and how to use it! Given that some people (possibly you) will need them, know the locations of the fire blanket, extinguishers, eyewash, and shower. Ask for equipment demonstrations! If the eyewash hasnt been used in a while, the discoloration of the water is usually sufficient to inspire the  use of safety glasses. Dont Taste or Sniff Chemicals For many chemicals, if you can smell them, you are exposing yourself to a dose that can harm you! If the safety information says that a chemical should only be used inside a fume hood, then dont use it anywhere else. This isnt cooking classdont taste your experiments! Dont Casually Dispose of Chemicals Some chemicals can be washed down the drain, while others require a different method of disposal. If a chemical can go in the sink, be sure to wash it away rather than risk an unexpected reaction between chemical leftovers later. Dont Eat or Drink in Lab Its tempting, but oh so dangerous. Just dont do it! Dont Play Mad Scientist Dont haphazardly mix chemicals! Pay attention to the order in which chemicals are to be added to each other and do not deviate from the instructions. Even chemicals that mix to produce seemingly safe products should be handled carefully. For example, hydrochloric acid and sodium hydroxide will give you salt water, but the reaction could break your glassware or splash the reactants onto you if you arent careful! Take Data During Lab ​​​Always record information during a lab and not after labon the assumption that it will be neater. Put data directly in your lab book rather than transcribing from another source (i.e.:  notebook or ​lab partner). There are lots of reasons for this, but the practical one is that it is much harder for the data to get lost in your lab book. For some experiments, it may be helpful to take data before  lab. Were not telling you to dry-lab or cheat, but being able to project likely data will help you catch bad lab procedure before you are three hours or so into a project. Know what to expect. You should always read the experiment in advance.

Shakespeare Research Paper Example | Topics and Well Written Essays - 1250 words

Shakespeare - Research Paper Example He grows more and more insane as the play progresses. displayed in the cast-away sister. In this way, Lear can be seen to be craving for the sort of blindness that he is already in the process of imposing upon himself when he says, â€Å"Old fond eyes, beweep this cause again, I’ll pluck ye out, and cast you, with the waters that you lose, to temper clay. Yea, is it come to this? Let it be so: I have another daughter†¦Ã¢â‚¬  (Shakespeare I,iv,292-294). A close reading of these words show that Lear is still using emotion to convey meaning, and also to convey the theme of blindness mentioned above, which is strong throughout the work. Lear is the one being portrayed as blind. The work can be shown through a close reading of how Goneril talks to Lear. In a chosen scene, Goneril states, â€Å"I do beseech you To understand my purposes aright: As you are old and reverend, you should be wise. Here do you keep a hundred knights and squires; Men so disorderd, so deboshd and bold, That this our court, infected with their manners, Shows like a riotous inn: epicurism and lust Make it more like a tavern or a brothel Than a graced palace. The shame itself doth speak For instant remedy† (Shakespeare, I, iv, 140-7). A close reading of this passage shows how Goneril starts off with a rhyming couplet that signifies important speech, and then goes on to flowery flattering of her father which is evident to the reader, but not to Lear, as false. This passage also shows that Goneril clearly thinks that she knows better than her father the king how the land should be ruled. â€Å"Angered by what he perceives as Cordelias insufficient love, Lear splits the kingdom be tween Regan and Goneril. Their treachery, however, soon becomes clear as they strip their father of all his authority and possessions. Lear then realizes the sincerity of Cordelias love† (King, 2000). Lear is essentially a tragic play. Its action focuses on a character through, surefit of pride,

Assignment Example | Topics and Well Written Essays - 500 words - 151

Assignment Example http://www.yourdictionary.com/cyberpornography 2. Email spoofing involves creating and sending email messages using a forged sender address so that the recipients of the messages are mislead about the actual source of the message. http://www.webopedia.com/TERM/E/e_mail_spoofing.html 3. Intellectual property crime is a criminal activity that involves using a person’s design, trade mark, patent, or copyright without their permission. http://www.ipo.gov.uk/ipenforce/ipenforce-crime.htm 6. Data diddling is the illegal act of changing data before or as one enters it into a computer system and changing it back after it has been processed by the system. http://cybercrimeandforensic.blogspot.com/2009/02/data-diddling.html 8. Virus attack is an attack to a computer system by a malware program that replicates and modifies data files, computer programs, or hard drives after getting executed. http://en.wikipedia.org/wiki/Computer_virus 9. Salami attack is an attack that involves the acquisition of small, almost insignificant amounts of information or assets from different sources and using them to commit illegal activities such as electronic theft http://all.net/CID/Attack/papers/Salami2.html . 11. Trojan attack – an attack by a malware that poses as a program that is beneficial or harmless but that actually helps cyber criminals commit crime by stealing data from a computer system http://www.antivirus.com/security-software/definition/trojan-horse/ 15. Passphrase – a set of words or other characters that is used to controlling access to information, files, program, or computer system