Strategic Analysis of LOreal Essay Example For Students

Strategic Analysis of LOreal Essay LOREALINTRODUCTIONStrategy analysis focuses on the long-term objective generating alternative strategies, and selecting strategies to pursue. The firms present strategies, objectives and mission, couple with the external and internal audit information, provide a basis for generating and evaluating feasible alternative strategies (David 200). LOreal has numerous competitors. To have an advantage on competition, LOreal has to apply some strategies that include internal audit information and external opportunities that will make the company stronger. They will also prevent competitors to have an advantage over LOreal. This report will be based upon the effectiveness of current strategies of LOreal, a real global leader in every segment of the industry. We will write a custom essay on Strategic Analysis of LOreal specifically for you for only $16.38 $13.9/page Order now CURRENT STRATEGIESLOreal encounters threats and opportunities and they have weaknesses and strengths. It is known as the TOWS matrix. It is an important matching tool that helps managers develop four types of strategies: SO Strategies, WO Strategies, ST Strategies and WT Strategies. The external opportunities and threats were identified earlier (see part 1) by developing the External Factor Evaluation Matrix and Competitive Profile Matrix is important for the current strategies development. LOreal internal strengths and weaknesses will be discussed further in this report. SO StrategiesSO Strategies uses the internal strengths to take advantage of external opportunities of a firm. LOreal has always taken these advantages with their new innovations and global expansion. The company is reaching out to more people across a bigger range of income and cultures than just about any other beauty-products company in the world. LOreal strategy positions it beautifully to profit even further when the middle class begins to grow stronger in emerging markets. That makes LOreal competitors more hustling to catch up. WO StrategiesWO strategies aim at improving internal weaknesses by taking advantage of external opportunities. Laws and governmental regulations require companies such as LOreal to maintain certain standard in quality and responsibility for their product. Rules may vary depending on the country. LOreal also have it own set of regulations that are very strict on quality. Whatever product is put on the market, one can be sure that it has gone through a ver y thorough and scientific series of tests. Those tests are usually even more severe than any regulation, so that the company is assured of the quality of the product. ST StrategiesST strategies use a firms strengths to avoid or reduce the impact of external threats. LOreal has made strategic acquisitions that strengthen its position in different categories. By doing so, they have taken hold as a leading position that other companies have trouble matching. As an example, LOreal can now offer product to Black consumers, because it has acquired Carson Inc that specialize in cosmetic products for black consumers. By achieving this significant progress in the ethnic beauty market, they avoid the threat of losing to other competitors. WT StrategiesWT strategies are directed at reducing internal weaknesses and avoiding environmental threats. As a company, LOreal has commitments to its employees by training and recruiting people with talents. It avoids having to face losing potential employees to competitors. Their reputation of performance is an everyday reality for LOreal Group. Employees have the opportunity to be innovative and that leads to more responsible and committed personal. EFFECTIVENESS OF STRATEGIESLOreal capitalize on opportunities in the global market. They are international with laboratories on three continents: in Europe, the United State of America, and Asia. They have test centers in many countries, enabling a better understanding of local customers preferences. Their increasingly global outlook, ensure a better and closer identification of specific local requirements. Now acquisitions enable LOreal to new developments in rich segment. STRATEGY RECOMMENDATION AND JUSTIFICATIONLOreal strategy is a well-developed fact. It has adapted to every particular environment. It will differ from one country to another with the basic plan that is molded to the need and function of the company. .u2a3f867d836b8df68817e1d326d14ca0 , .u2a3f867d836b8df68817e1d326d14ca0 .postImageUrl , .u2a3f867d836b8df68817e1d326d14ca0 .centered-text-area { min-height: 80px; position: relative; } .u2a3f867d836b8df68817e1d326d14ca0 , .u2a3f867d836b8df68817e1d326d14ca0:hover , .u2a3f867d836b8df68817e1d326d14ca0:visited , .u2a3f867d836b8df68817e1d326d14ca0:active { border:0!important; } .u2a3f867d836b8df68817e1d326d14ca0 .clearfix:after { content: ""; display: table; clear: both; } .u2a3f867d836b8df68817e1d326d14ca0 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u2a3f867d836b8df68817e1d326d14ca0:active , .u2a3f867d836b8df68817e1d326d14ca0:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u2a3f867d836b8df68817e1d326d14ca0 .centered-text-area { width: 100%; position: relative ; } .u2a3f867d836b8df68817e1d326d14ca0 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u2a3f867d836b8df68817e1d326d14ca0 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u2a3f867d836b8df68817e1d326d14ca0 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u2a3f867d836b8df68817e1d326d14ca0:hover .ctaButton { background-color: #34495E!important; } .u2a3f867d836b8df68817e1d326d14ca0 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u2a3f867d836b8df68817e1d326d14ca0 .u2a3f867d836b8df68817e1d326d14ca0-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u2a3f867d836b8df68817e1d326d14ca0:after { content: ""; display: block; clear: both; } READ: Youth violence EssayEconomic factors have been favorable to LOreal and continue to be. Their expansion is well organized. Nothing is done without having done its homework first. That in it-self is a key to success. INPLEMENTATIONLOreal has opened the last door to the world. Not only do they have physical access and contact all over the world, now the world comes to them. They educate, advertise, and sell whatever they offer. With the market integration in everyday reality, the company has found a new way to ensure a better integration and better opportunities for those who have a taste for additional responsibilities and commitment. They are also willing to train them , so that they can be very productive and competitive. They have an expertise in global market that facilitates and pleases the prospective and current customer. One can have service in its own language without leaving home. Also, they aim to raise the profile of the company. To achieve that, they provide training for employees throughout the world that joins them. FINANCIAL IMPACTWith the help of new strategies, and despite disruptive world events, LOreal sales continue to grow. The consolidated sales of LORAL in 2001 reached 13.7 billion, in line with the groups expectations. The sales growth rate compared with 2000 was 8.4%. Exchange rate fluctuations, still positive at 0.5% at the end of September, had a 0.3% negative effect. The growth rate excluding exchange rate fluctuations was thus 8.7%. In structural terms, the positive net impact of disposals and acquisitions in 2000 and 2001, which was 2.4% up to the end of September, amounted to 1.6% for the whole year. In 2001, the group made two acquisitions: BioMedic, which specializes in skin care products to accompany dermatological and plastic surgery treatments, and Colorama, a Brazilian mass-market make-up brand. On a like-for-like basis, i.e. with an identical structure and exchange rates, the group sales grew by 7.1%. The Groups cosmetics sector continued to grow faster than the world mar ket. This achievement can be attributed to strong international growth combined with the successful worldwide rollout of the groups core brands. Fourth quarter sales were satisfactory (up by 6.2% like-for-like), with good growth in Western Europe (up by 5.8%) and continuing strong growth in the Rest of the World (up by 13.8%). In North America, sales advanced by 2.2%: some American retailers cut inventories sharply following the tragic events of 11th September. The dermatology sector continued to achieve rapid growth worldwide. Sales growth by sector and area Millions GrowthExcl. exch. rate fluctuations Group sales by sectorCosmtics13,394+ 8.7%+ 9.1%Dermatology (1) 292+ 11.3%+ 10.9%Cosmetics sales by area:Western Europe6,580+ 5.6%+ 5.8%North America4,257+ 14.0%+ 11.0%Rest of the World2,557+ 8.8%+ 14.9%(1) LOREAL Group share: 50%. (Www.loreal-finance.com)CONCLUSIONLOreal is a company that has seen various external opportunities and threats. They know how to handle their strengths and weaknesses to their advantage. Developing analytical strategies will improve and increase LOreal competitive advantage over Revlon, Clairol and others. With the global expansion, new innovations and the Internet strategy, it will definitely increase the sales and automatically more profits. If they follow their strategies and mission, LOreal will be in business for a long time and will find new ways to surprise us. ReferencesDavid, Fred R. Strategic Management: Concept ; Cases. New Jersey: Prentice hall, 1999. LOreal: The Beauty of Global Branding Business Week. 11 April 2002. Strategy Tip Of The Week. 23 April 2002. . Annual Report 2002. LOreal. 26 Mars 2002 .

Tesol Essays

Tesol Essays Tesol Essay Tesol Essay TASKS FOR SUBMISSION TO YOUR TUTOREach task should be between 500 and 750 words long.TASK 1Using what you have read in this introduction to TESOL and your own knowledge, what do you consider to be the blocks which may prevent language learning? Mastering a language is a long and windy road. On the path to learning a language, students may stumble upon many blocks and obstacles that can prevent successful learning. One of the basic principles of teaching a language is to ensure that the students succeed. To help make sure students are successful, it is important for teachers to be aware of possible blocks which may prevent language learning. One block learners may face is a ‘talkative’ teacher. If a teacher spends too much time talking to a class, the students will become bored and lose focus. As a result, they won’t remember much of the lesson. Students will not learn how to speak if the teacher is speaking all the time. In addition, if the teacher is talking fo r long periods of time, the students may get lost and not follow everything. It is important that teachers limit their talking time so that they keep the students interested. Lessons should be interactive, allowing students as much time as possible to interact and practice the language with the teacher and fellow students. It is also imperative that teachers are versatile and adopt a variety of learning activities. Always doing the same activity is mundane and will cause the students to lose interest.A second block is language learning style, as individual differences exist in the preferred style of learning. Ignoring individual differences and always using the same style can hinder the learning process. Teachers should try to get to know individual learning style preferences so they can tailor their presentations and activities to suit individual variations in learning preferences. Another block students may face is the teacher’s use of complex language. It is important tha t

Personal Bankruptcy and Financial Literacy Essay

Personal Bankruptcy and Financial Literacy - Essay Example The management of the companies should know the implications of the finance to be a successful player in the market. On of the most important measures in the development of the companies is the profit of the company. Therefore, it is imperative for the business to be financially literate. It has become an important subject at individual level after the recession. One of the most important components in the economy is the financial market. Financial Education is needed for the individuals and the organizations in the world to understand the concepts and rationales behind the financial products in the market. They also require recognizing the risks involved with the products so that they can leverage the risk when required. Financial education engulfs education about the financial products and the economy with the help of the charts and the data analysis, which help the companies and the individuals to analyze the market more carefully. (OECD, 26-27). This leads to the development of t he economy in general. The individuals and the companies can take the advantage of a situation in the economy if they are well acquainted with the financial education. After the recession, a major trend in the market was the bankruptcy. The bankruptcy for a company or an individual is a condition when the person or the company is unable to pay the debts. The regulatory authority of the country gives the company or the individual the support to pay off the debts by taking over the assets. (Blum, 337). The importance of bankruptcy has increased in the aftermath of the recession as many companies and individuals took the shelter of the law, as they were unable to pay off the debts. The bankruptcy has a negative effect on the economy of the country in the case of the companies. The companies provide many individuals with jobs and with the closure the unemployment problem rise. However, in the case of the individuals, the bankruptcy

Terrorism and Domestic Preparedness Essay Example | Topics and Well Written Essays - 2000 words

Terrorism and Domestic Preparedness - Essay Example he bureaucratic structure of communication and management of security activities and details among the security agents in the federal, state and local jurisdictions. It is recommended that security policies which favor coordination and efficient communication among the security agencies are provided within the legal framework of the federation. This will ensure that standards are set for compliance of security agencies and provision of guidelines for effective communication and financial resources for training and security information technology. International terrorism is recognized as an ongoing and serious domestic and security threat. Basically, international threat is defined as terrorism that is practiced and sometimes planned in a foreign country by terrorists (individuals or groups) who are not native to that particular country. The definition mostly used by United States government is terrorism that involves the property or citizens of more one or more countries (Siniver, 2010). As noted for over the years, the threat of international terrorism is more serious in the United States of America than in any other country in the world. It is a widely agreed fact that the United States terrorism threat level has been substantial especially after the 9/11 attacks substantial, that is, there is a strong possibility of terrorist attacks. Siniver (2010) argues that international terrorism is considered a major United States’ domestic and foreign security threat because its target selection and timing by terrorists can significantly affect the interests of the United States in numerous areas such as trade, nuclear non- proliferation, Middle East peace process, and budgetary allocations among other economic, social, and political interests. It is against this background that the United States government through the Department of Homeland Security has made protection of the American people from terrorist threats as its highest priority. The department has put a

The Morrison Company , Wheelwright , S.C and Myers, P. ( 2011), Assignment

The Morrison Company , Wheelwright , S.C and Myers, P. ( 2011), Harvard Business School - Assignment Example Breen can adopt the following strategies for bringing in the organizational change required to improve the performance. 1. It was found that personalization or customization of the smart labels is creating problems as Morrison was facing bottlenecks due to personalization delaying the packaging operation, moreover pharmaceutical companies required less customization as only 15% of orders were customized and its average price is $0.22 and represented two-thirds of Morrison revenue however 85% of retail orders were personalized with average price being only $.11. So it is recommended that personalization should be done only for large orders and not small orders and interchangeability manufacturing system should be introduced (Patil 2008). 2. Optimal Inventory Policy to be adopted: It was found that the current inventory policy of Morrison is inefficient as it is contributing towards significant lead time and suppliers are not able to supply 100 percent of the orders on time due to whic h Morrison is delivering orders 10 weeks later than the originally scheduled date. Therefore the inventory policy for materials has to change and optimum inventory policy should be adopted. Optimum inventory policy calls for two models, first through developing a simple model in which the relevant quantities and constant future demand flow are estimated in advance and second by developing an uncertainty model in which the random variable is demand flow is studied with probability distribution. Using two models, â€Å"the best maximum stock and the best reordering point are determined as functions of the demand distribution, the cost of making an order and the penalty of stock depletion† (Arrow et al 1950, p.1; Tempelmeier 2012). The optimum safety stock acts as a buffer production plan that takes into account the random uncertain events such as breakdowns of machines, random demands and late deliveries (Tempelmeier 2012). 3. ERP system to be launched: ERP system is used exten sively by both large and small and medium sized enterprises (SMEs). Breen should convince her CEO that ERP system provides both tangible and intangible benefits to the organization and its benefits are much more than its cost not vice versa. Tangible benefits realized from launching ERP system are reduction of inventory, personnel, financial close cycle, cost of IT, cost of procurement, and maintenance; improvements in productivity, order management, cash management, increase in profit and revenue and ensures on time delivery. Intangible benefits derived are increased visibility, improved processes, reduction in overall costs, customer responsiveness, more integration, flexibility, increase in performance of business and improved demand/supply chain (O’Leary 2004). It has become a must for integrating various business functions and for gaining competitive advantage however it must be customized, have support of top management (Fosser 2008). It can use materials requirement re source planning and manufacturing resource planning (Patil 2008). 4. Materials supplier sources should be increased: As it was found that

A Review Of Groundhog Day

A Review Of Groundhog Day Groundhog Day is one of those rare films that has been entirely embraced as a cultural artifact by Western society. Roger Ebert says; there are a few films, and this is one of them, that burrow into our memories and become reference points. When you find yourself needing the phrase this is like Groundhog Day to explain how you feel, a movie has accomplished something. As a term it has been absorbed into popular speech, as observed by Ryan Gilbey; Its everywhere in travel writing, rock journalism, advice columns, horoscopes. Tony Blair refers to it in a speech about the Northern Ireland peace process, and it crops up in the Archbishop of Canterburys Richard Dimbleby Lecture in 2002. It makes its way into the headline of a restaurant review (a culinary groundhog day), a cricket report (Groundhog Day for the West Indies), and an editorial on the search for weapons of mass destruction in Iraq (No smoking guns, no huge breakthroughs, just a hint that Groundhog Day may be over) while a kidnap victim uses the phrase to describe his captivity in the Colombian jungle. It was even unofficially adopted into the American military jingo with reference to their conflict in Somalia at around the time that the film came out on VHS, and officially adopted into the United States Film Directory as being culturally, historically, or aesthetically significant in 2006. It was screened in the New York Museum of Modern Art in a season entitled The Hidden God: Film and Faith along with works by Bergman and Rossellini, and the occasion was seen as an opportunity for religious groups to vocalise their suppositions as to its pertinence to their individual faiths. The most vocal were the Buddhists, with a popular urban legend regarding the film stating that in an early draft Phil was stuck in Punxatawny for 10,000 years, a significant number in Buddhist teachings. Danny Rubin, the films screenwiter, denounces this as untrue: Harold [Ramis, the director of the film] likes that allusion, and its good for the legend of the film because of the Buddhist connection. However, that wasnt on my mind. Some interpretations were that the film was intrinsically Jewish, (the movie tells us, as Judaism does, that the work doesnt end until the world has been perfected) or Christian (à ¢Ã¢â€š ¬Ã‚ ¦clearly the resurrected Christ). The film has also apparently been used in teachings by the Chinese spiritual movement Falun Dafa. If Nietzsche had been at that screening, however, I think that he would have revelled in it as intrinsically Nihilistic (in the positive sense), or (if the term existed when he were alive) Nietzschean. I have always been intimidated by Nietzsche, and indeed by Philosophy in general. I have always found the subject bewildering. Id hear outlandish quotes like God is dead, or about philosophical leanings like utilitarianism, empiricism or relativism, and be frustrated by their opacity, or at least by my inability to decipher what they are. But I also found it fascinating, at least from a distance. My aim for this thesis is to examine Groundhog Day a film I personally have a great love for using the parlance of the philosopher which most intrigued me, so as to better understand the work in the context of something which I have an afinity for. Nietzsches writings and musings had a huge effect on Populist opinion in the twentieth century, and it is my contention that this can be observed clearly in Groundhog Day. Chapter One examines Nietzsches notion of Eternal Recurrence, and how it appears in the film. Eternal recurrence is the idea that we have lived the exact life we are leading now an infinite number of times in the past and will do so an infinite number of times in the future. If weve enjoyed a particularly righteous or pleasurable life, this might sound like the greatest of outcomes. If not, eternal recurrence may strike us as a curse. Our misery, far from being over when we die, is destined to be repeated on us, eternal retribution for our mistakes. This is very obviously manifested in Groundhog Day. Chapter Two then will examine Phil seeking and achieving what Nietzsche refers to as the Ubermensch, or Overman. Nietzsche coined the term Ubermensch in his book Thus Spake Zarathustra; I teach you the overman. Man is something that shall be overcome. What have you done to overcome him? à ¢Ã¢â€š ¬Ã‚ ¦ All beings so far have created something beyond themselves; and do you want to be the ebb of this great flood, and even go back to the beasts rather than overcome man? What is ape to man? A laughing stock or painful embarrassment. And man shall be that to overman: a laughing stock or painful embarrassment. The idea of the overman was misappropriated by National Socialism in the early part of the twentieth century. After Nietzsches death, his estate was run by his sister Elizabeth, a staunch nationalist and rampant anti-semite, two things which Nietzsche himself found unpalatable. She re-edited and reinterpreted Nietzsches work so that he became the representative philosopher for the Nazis, going so far as to print a book called The Will to Power posthumously, which was made up of notes and musings which he had no intention of publishing. This became something of a bible for National Socialism leading to Nietzsche being worshipped by the Nazis, an image which Nietzsche only overcame in the latter part of the Twentieth century. As you can imagine, the idea of the Ubermensch became a standard for the Nazis and their theories on eugenics and ethnic cleansing. But this was not Nietzsches intention. According to documentarian Simon Chu, Nietzsche proposes an ideal of self overcoming, an ideal he calls the overman, not by having recourse to a metaphysical realm outside of the human, but within the possibilities of the humanà ¢Ã¢â€š ¬Ã‚ ¦ how can we as humans transcend ourselves? The idea of the overman came from Nietzsches own battle for self mastery. Human beings in general, he argued, had a duty to rise above their own condition. Nietzsche himself was quite limited physically due to perpetual illness, and socially due to self-imposed isolation, and Phil Connor is similarly limited by his own nature: he creates a bitter faà §ade which, through the course of the film, is broken down through his own endeavours at self-improvement. Ubermensch actually means overcoming, looking for a new path devoid of God. Chapter Three will deal with that notion: the association between Phil Connors self-betterment and the Nihilistic idea which must be embraced by the Ubermensch. Nihilism, as Nietzsche saw it, was not just a viewpoint that nothing in life has any meaning: Nietzsche proposed that we must look within ourselves to find a strong moral compass, rather than be corralled by the external ideals purported by religion. This type of moral opinion is negative; only from looking within ourselves can we find a true moral standpoint. When left to his own devices for an eternity of recurrence, Phil makes the choices which make him a better man for himself, not for anyone or anything else, Maybe the real God uses tricks. Maybe hes not omnipotent, hes just been around so long he knows everything. Eternal Recurrence Phil: What would you do if you were stuck in one place and every day was exactly the same, and nothing that you did mattered? Ralph: That about sums it up for me. Phil: I have been stabbed, shot, poisoned, frozen, hung, electrocuted, and burned. Rita: Oh, really? Phil: and every morning I wake up without a scratch on me, not a dent in the fender I am an immortal. Groundhog Day concerns itself heavily with the notion of Eternal Recurrence, or Eternal Return, to the extent of illuminating some conflicting interpretations of this key Nietzschean thought. In Nietzsches book The Gay Science, he first hits upon the idea of Eternal Return: What if some day or night a demon were to steal after you into your loneliest loneliness and say to you, `This life as you now live it and have lived it, you will have to live once more and innumerable times more; and there will be nothing new in it, but every pain and every joy and every thought and sigh and everything unutterably small or great in your life will have to return to you, all in the same succession and sequence even this spider and this moon-light between the trees, and even this moment and I myself. The eternal hourglass of existence is turned upside down again and again, and you with it, speck of dust! Would you not throw yourself down and gnash your teeth and curse the demon who spoke thus? Or have you once experienced a tremendous moment when you would have answered him, `You are a god and never have I heard anything more divine!' This statement makes the point that Eternal Return, though at first glance a hellish endeavour, is in fact a positive occurrence, if the person that he is referring to in the quotation is in fact happy to repeat their lives. The notion rears its head in earnest in Thus Spake Zarathustra. The semi-autobiographical text sees a fictional interpretation of the prophet of the Zoroaster people make his way down from his mountain retreat to spread the word of Nihilism to the people down below. He arrives during his journey to a straight road leading far off in distant directions under a gateway titled Moment. His dwarf travel companion makes this point: All that is straight lies, All truth is crooked; time itself is a circle. Zarathustra cannot reconcile with the thought of eternal recurrence quite as easily as his companion, largely because he would have to recognize that the mundanity of humanity that he so deplores will never be fully overcome, but rather will be repeated over and over again. This seems contradictory of what happens in Groundhog Day: Phil experiences February 2nd every day in the same small town, but every day he does something different, thus negating Eternal Recurrence as Nietzsche sees it. According to Deleuzes interpretation, Nietzsche was not in fact promoting the idea of the return of the identical but rather the return of the different. Each return selects the life-enhancing while rejecting the life-degrading, leading to each iteration being better than the last. As Deleuze says, We can thus see how the eternal return is linked, not to a repetition of the same, but on the contrary, to a transmutation. It is the moment or the eternity of becoming which eliminates all that resists it. It releases, indeed it creates, the purely active and pure affirmation. Groundhog Day contradicts both the outlined hypotheses. In Phil Connors world, there is no Nietzschean return of the identical he is able to act differently each time and cause different events to happen. And no repetition is more affirmative than the last Groundhog Day presents a far more human version of eternal recurrence. Phil mostly muddles his way through the situation, sometimes winding up less affirmative, sometimes more. Motivated by his love for Rita, he does finally reach a state of metamorphosis and at that point he is extricated from eternal recurrence. Luce Irigaray is perhaps the right philosopher for guiding us to unlocking the Nietzschean essence of Groundhog Day. Irigaray agrees with the conventional view that eternal recurrence concerns the return of the same. She objects to it on the grounds that it is a sterile thought that excludes any notion of the other, of outer influence. She writes of eternal recurrence as nothing but the will to recapitulate all projects within yourself. In other words, it is self-perpetuating and self-referential. We might think of it as a type of parthenogenesis it provides men with the ability to give birth to themselves over and over again, thus denying the role of the female. Irigaray wishes to promote the value of the other, which she largely conceives in female terms, in opposition to the traditional philosophical subject that she considers steadfastly male and masculine. She says For, in the other, you are changed. Become other, and without recurrence. In Groundhog Day, its Phil Connors love for his female colleague Rita that proves decisive. By immersing himself in otherness, by learning everything that makes Rita tick, he performs a type of metamorphosis, a rebirth in a sense rather than a return. He sheds his old, sexist form and emerges as a far more rounded human being, in touch with his feminine side (his inner other). As soon as he has fully achieved this, hes released from eternal recurrence. As argued by Irigaray, in any case. In Nietzsches conception of eternal recurrence, the individual has no memory of his previous lives. In Groundhog Day, Phil Connors certainly does. But hes the only one. All the others with whom he shares his eternal recurrence are perhaps in the classic Nietzschean position of having no recollection of their past existences. However, if they specifically interact (or even not specifically or personally) with Phil then their fate each time is no longer fixed, although they have no memory of the different paths Phil engineers for them. Phils circumstance is in this sense much more horrific than theirs. He is not dealing with eternal recurrence as an interesting hypothesis; he is a conscious participator and victim of it, entirely out of his control. Nietzsches eternal recurrence is, of course, logically problematic because if an individuals life is a repeat of previous lives then he would appear to have no free choice, yet Nietzsche seems to want us to alter our attitude to life in the face of the realisation of the harsh truth of eternal recurrence. If we accept his scenario in its strictest sense then our response to the concept of eternal recurrence is nothing over which we can have any control and our reaction, whatever it may be, is entirely futile, one we have exhibited an infinite number of times before and will do so an infinite number of times in the future. For Phil, this objection is removed. He can change; he has complete free choice. Its up to him to choose his attitude towards his metaphysical and existential predicament. At first, understandably, he experiences complete shock, before enjoying a brief sensation of omnipotence and omniscience. Then suicidal depression kicks in at the utter futility of everything he does. Of course, he is incapable of dying, so there is no way out. He then has few choices within the confines of Punxatawney. After much duress, Phil chooses to make the most of the world he now inhabits. He educates himself in many new fields and becomes accomplished as a scholar, artist, linguist and musician. He also develops as a person and achieves self-awareness, rather than the self destruction that he pursued previously. Through this enlightenment, he at last secures the love of the woman he has pursued from the beginning. In Jungian terms, Rita represents the Self that we all strive to find during our lifes journey. By winning her, Phil has completed Jungs arduous process of individuation, and become Nietzsches monument of self-improvement. This is so momentous that Phil actually escapes from eternal recurrence and re-enters causality, but now he is a transformed human being, completely reborn out of the hardships that he has experienced, given that chance to view the world through entirely new eyes. This then is the key to Eternal Recurrence: its not meant to be interpreted literally, but as an aphorism to guide people to whom Nihilism was becoming an increasingly attractive prospect when Nietzsche wrote about it in 19th Century Germany  [1]  . In a meta-physical sense, its like an Aesops Fable, with an easily discernible moral. Its not to be analyzed and dissected scientifically to ascertain its veracity: as said in The Simpson; Lisa: When a tree falls in the woods, does it make a sound? Bart: Sure it does. Neeeeer-crash. To argue (as Nietzsche himself did), that there is a scientific grounding in the theory is missing the point, I feel  [2]  . The point is that the individual must strive for self-improvement, to aim to achieve the Ubermensch, as I feel Phil did in Groundhog Day. The Ubermensch I teach you the overman. Man is something that shall be overcome. What have you done to overcome him? à ¢Ã¢â€š ¬Ã‚ ¦ All beings so far have created something beyond themselves; and do you want to be the ebb of this great flood, and even go back to the beasts rather than overcome man? What is ape to man? A laughing stock or painful embarrassment. And man shall be that to overman: a laughing stock or painful embarrassment. Larry: Prima Donnas. As said in Simon Chus documentary Human, All too Human, Nietzsche proposes an ideal of self overcoming, an ideal he calls the overman, not by having recourse to a metaphysical realm outside of the human, but within the possibilities of the human how can we as humans transcend ourselves? The idea of the overman came from Nietzsches own battle for self mastery.  [3]  Human beings in general, he argued, had a duty to rise above their own condition. Nietzsche (early on) was what was referred to as a Schopenhauerian, as in he became a disciple of the German philosopher Arthur Schopenhauer after reading The World as Will and Idea. Schoppenhauer was a huge influence on Nietzsche, and talks about the will. Schoppenhauers will is akin to Freuds id, an unconscious, striving, persistent force, it may seem that the intellect drives the will, but it is in fact the other way around. In a Darwinian sense, every individual is striving against the will of others in a self interested way. Schoppenhauer saw the will as essentially evil, and the only way out of this suffering and evil is the denial of the will, a refusal to take part in the egotistical contest for domination of others. Its interesting to take a look at Phil Connors with Schoppenhauers will in mind, seeing as he was such a huge influence on Nietzsche. Early in the film, even before the time loop comes into effect, Phil strives persistently to impose his higher status onto the people around him, mostly by belittling them. In the first three minutes, almost every line out of his mouth is vitriolic, from calling his fellow anchor hairdo, to diminishing Ritas authority through impersonating her, to fussing over the fact he wont stay in the hotel that Rita is staying in, to insulting how Larry eats, the list goes on.  [4]   After the loop sets in and the realization of we can do whatever we [want], he sets about dominating the whole town, to becoming the King of Punxatawney. The loop and the actions that Phil took eventually led to what Schoppenhauer referred to as the extinction of the self. This can all be interpreted as similar or influential on Nietzsches idea of the Ubermensch. Nihilism God is dead. God remains dead. And we have killed him.  [5]   Phil: Im a god. Rita: Youre God? Phil: Im a god. Im not *the* God I dont think.  [6]   Nietzsche does not deny the existence of values, but the denial of value is in some sense what he means by nihilism. Michael Tanner says, What he portrays, in book after book, is the gradual but accelerating decline of Western man into a state where no values any longer impress him, or where he mouthes them but they mean nothing to him any longer. Tanner, p 32. If forced to label Nietzsche as a particular sort of philosopher, one would label him as a moral philosopher. But unlike moral philosophers that had come previously, Nietzsche does not provide the reader with a set moral code. His aim is to motivate the reader to come up with their own moral code, one that comes from within. Morality is usually studied philosophically from two different perspectives: normative ethics and meta ethics. Normative ethics is concerned with what is good and what is bad, and providing a perspective for moral decision making. Meta-ethics is concerned with what we mean when we use the word good or bad, and where our definition of those words come from, ie where our morals come from. When we think of the word good, we are probably not tapping into some universal reservoir of goodness, rather our definition more than likely comes from the society we inhabit.  [7]   Nietzsche is mostly concerned with meta-ethical issues. Nietzsche is not so much concerned with the fact that our beliefs are false, but rather the belief about those beliefs. Why should we hold the beliefs that we do? When Nietzsche first declared that God is dead in The Gay Science, he means that society no longer has a use for God, that the belief does not help the survival of the species, rather it hinders it. The ethical implications of this are important, for with the death of God comes the death of religious morality, a morality that has underpinned Western culture for hundreds of years. Morality as it is still practiced derives from the Hebraic-Christian tradition, its origins to be found in the dictates of the god of a small middle Eastern tribe, and that its contents remain very much what they were. This brings us back to Phil Connors in his Punxatawney time-warp. Observing Phil superficially, we can surmise that he was probably raised in a Christian moral system, and would have been raised with the ubiquitous Western moral code. But as soon as he trusts in the fact that there will be no repercussions for his actions in the form of punishment from an external authority figure (a staple of the Christan moral code), he was able to cast aside his morals easily, Phil: Its the same thing your whole life: Clean up your room. Stand up straight. Pick up your feet. Take it like a man. Be nice to your sister. Dont mix beer and wine, ever. Oh yeah: Dont drive on the railroad track. Gus: Well, Phil, thats one I happen to agree with. This signifies that they were not his, merely the morals society applied to him. He then embarks on a spree of ethical naturalism. Ethical naturalism is the view that our morality can be based on our nature. For example, in a utilitarian sense, Our moral beliefs did not fall from heaven and neither are they credentials we can flash like a badge to establish our moral probity p30, Tanner And morality, meaning the variety of attitudes that we find officially espoused in our society? It ministers to our welfare, in its basic form, so that at least we feel safe when our backs are turned on other people Tanner, p31 If he sometimes thinks of himself as the prophet of nihilism, it is not in the sense that he is proclaiming arrival as something to be celebrated, but in the sense that Jeremiah was the prophet of the destruction of Jerusalem. Tanner, p32. What he portrays, in book after book, is the gradual but accelerating decline of Western man into a state where no values any longer impress him, or where he mouthes them but they mean nothing to him any longer. Tanner, p 32. Christianity has always been in a state of moral identity crisis. That, though a large factor in the moral bewilderment of the West, is a marginal issue for Nietzsche, whose main interest is in the nature of moralitys sanctions in general. Tanner, p 33. Its interesting to note the moral compass of the film itself. As (despite the philosophical ramification of the premise) a light-hearted entry into the romantic comedy genre, it was unlikely to go to a particularly dark place with the premise. What this means for the character is that Phil represents the morals of the progenitors of the piece: they were unwilling, morally, to allow Phil to become involved in any particularly unsavoury acts or crimes. The repeated suicides were a strong turn in the film (unusual in its genre), but Phil never acts upon his presumed darkest impulses to commit forceful sex acts or to murder. Im glad we dont have to watch a scene where a deranged Phil takes a meat cleaver to Ned, or brutally sexually assaults Rita, but I find it worthwhile to note the morally controlling influence of creator and audience. Imagine Gaper Noes Groundhog Day. Could it be said that this was, in fact, Phils punishment?

Pet Sitting Service Essay -- essays research papers

Marketing Summary Plan WAGS TO WHISKERS PET SITTING SERVICE EXECUTIVE SUMMARY A service such as Wags to Whiskers Pet Sitting Service is very important to people who own animals. Pets are not merely animals to many people, but considered children. Knowing that a pet is being cared for in their own environment is a much sought after relief for many people. Wags to Whiskers offer a variety of services for an owner when it comes to caring for the pet while a person is away from the home. Items such as feed and watering, walking or exercise, and grooming are just a few of the services available. Cost for services will range from $5 to $35 depending upon the service and time frame needed to complete the service. The services can be used on a daily basis or for an extended amount of time when a person is out of town. Concentration on professionals and senior citizens will be the target audience to begin the Wags to Whiskers Pet Sitting Service. The area of concentration will include the three counties of Northern Kentucky, Boone, Kenton, and Campbell. Because owners feel guilty for leaving their pets alone for long periods, pet sitting services is one of the fastest growing businesses. If Wags to Whiskers has the perseverance, the opportunities are there for the making in the pet sitting business. This can be accomplished through multiple avenues of advertising, such as newspapers, vet offices, etc. Goals for Wags to Whiskers will consist of making $25,000 in the first year of business and growing in additional clientele, staff, and revenue over the next three years. PRODUCT DEFINITION Wags to Whiskers Pet Sitting Services offer clients who are busy working long hours away from home a much-needed peace of mind. It is important to the client to know the animal is well taken care of during their absence. Regardless of the type of pet Wags to Whiskers Pet Sitting Service offer feeding, watering, exercise and/or play, administer of medication, transportation to the vet, massages, and will make air travel arrangements for pets. According to Mary Jean Ballner who spoke at the NAPPS annual conference in January, 2005, â€Å"Benefits (from massages) are the same as for humans (increases blood flow, releases endorphins, soothes) Benefits pet sitters by (accelerates bonding with all animals, aids with ‘difficult’ pets, relaxes scared animals).† Other services offered... ... NAPPS to care for exotic animals 5.  Ã‚  Ã‚  Ã‚  Ã‚  Quarterly newsletter to clients and others to keep customers informed about services and products CONTROLS Monitoring Wags to Whiskers marketing plan will be an ongoing task. Advertisement will be important to track to determine who is providing the most new customers to Wags to Whiskers. Advertisements placed in the local newspapers should be checked quarterly to see if they are paying for themselves. If not, it will be necessary to find other avenues of advertising, such as pet magazines and the websites for the top three pet sitting organizations in the United States. If most of the new business is coming to Wags to Whiskers by word-of-mouth from current clients, it will be important to find a way to show appreciation, such as a free service for every new client received. Service fees could be a concern if business in the first six months is not on target to meet the first year revenue of $25,000. Improvement in this area may require looking at costs incurred compared to revenue coming in. Changes such as driving routes, time spent in traffic and time spent with pet must be reviewed for better efficiency.

Reasons Why People Use the Internet

What is the Internet, and how does it work? The Internet, including the World Wide Web, is perhaps the single most important invention to impact on elementary, secondary, and higher education in today's world. If parents are to understand how their children use technologies for learning, they must understand some things about the Internet and the Web. This section of the San Diego Public Library site offers information for parents on various aspects of this invention. What is the Internet? The Internet, in simplest terms, is the large group of millions of computers around the world that are all connected to one another. These computers are connected by phone lines, fiber optic lines, coaxial cable, satellites, and wireless connections. When you log on to the Internet you are given access to many of the other computers that are connected around the world. Internet A global network connecting millions of computers. More than 100 countries are linked into exchanges of data, news and opinions. Unlike online services, which are centrally controlled, the Internet is decentralized by design. Each Internet computer, called a host, is independent. Its operators can choose which Internet services to use and which local services to make available to the global Internet community. Remarkably, this anarchy by design works exceedingly well. There are a variety of ways to access the Internet. Most online services, such as America Online, offer access to some Internet services. It is also possible to gain access through a commercial Internet Service Provider (ISP). The Internet is a global system of interconnected computer networks that use the standard Internet protocol suite (TCP/IP) to serve billions of users worldwide. It is a network of networks that consists of millions of private, public, academic, business, and government networks, of local to global scope, that are linked by a broad array of electronic, wireless and optical networking technologies. The Internet carries a vast range of information resources and services, such as the inter-linked hypertext documents of the World Wide Web (WWW) and the infrastructure to support email. Top 10 Reasons People Use the Internet 1. Information – The Internet is arguably one of the most successful and useful tools mankind has ever created. It is, in fact, the largest library ever created, and is growing daily. Although you need to always be careful of your sources, the Internet is THE modern source of information, delivered in multiple media: written word, visual graphics and images, video, and audio have changed the way that we humans look for and find information. 2. Communication – People use the Internet to communicate with one another. Software has made it possible to stream voice and video across the world with minimal delay, and email has become the main means of communicating for many a modern person. Without the Internet, it would be both more expensive and slower to maintain personal and professional relationships. 3. Entertainment – Many people use the Internet to enjoy themselves and to engage in personal interests. In recent years, multiple player games and virtual worlds have engaged the time and money of many. Plus, video and music are easy to find, stream and download†¦plus, the medium encourages feedback! Indeed, Internet use can go too far. But how can you know if you’re addicted to the Internet? We list the criteria and signs of Internet addiction in the link above. 4. Work – The Internet provides an alternative to 9-5 workdays, as more and more people can work from home, or â€Å"telecommute†. Plus, a growing number of people are making a living from the Internet itself, wither becoming experts in how people search the Internet, providing IT or web development services, or specializing in Internet marketing. 5. School – More and more elementary, high school and university curricula require use of the Internet for school work. 6. Relationships – People use the Internet to find, maintain, or end relationships. But people can get addicted to social networks, too. More on how to know if you’re a Facebook addict here. 7. Market – People use the Internet to research, find and buy services and products. Or to target and sell to the ultimate consumer. In effect, the Internet has become THE best way to buy and sell merchandise, as online â€Å"stores† are open 24 hours a day, 7 days a week. 8. Sexuality – Although it may surprise you, it’s no secret that a real majority of search is centered around porn. So, people [men] use the Internet to view pornography and to engage their sexual instinct. 9. Self expression – People not only consume information on the Internet, they CREATE it. And in doing so, people are able to express themselves politically, artistically, vocally, socially, etc. and give voice to what is important to them. The Internet is the ultimate forum on which you can discuss or monologue as you like. 10. Ask for help – The protocol for Internet use is one of private consumption without need for naming yourself. By virtue of the privacy and anonymity factor of cyber space, Some people use the Internet to ask for help. People ask for help in the form of emotional support, medical advice, or even simply listening. If you think that you may be an Internet addict, there is help out there for you. If you want to explore the deeper emotional and psychological issues for compulsive use of the Internet, first start by asking for help from your family doctor. S/He may refer you to a mental health specialist or center for technology addictions in your area. Or, if there are no specialists that live in your area, you might even consider videoconferencing, a form of distance psycho therapy that is starting to help people, no matter where you are. Whatever the case, you may need help to uncover the real reasons behind your reliance on the Internet, and to learn how to cut back and monitor Internet use for a healthy mind.

Proverb vs. Adage

Proverb vs. Adage Proverb vs. Adage Proverb vs. Adage By Maeve Maddox English possesses dozens of nouns that mean â€Å"short sayings that encapsulate truth or wisdom passed on from previous generations.† Proverb and adage are two of them. proverb: a short, traditional, and pithy saying; a concise sentence, typically metaphorical or alliterative in form, stating a general truth or piece of advice; an adage. adage: a proverb or short statement expressing a general truth. Efforts are made to draw a distinction between proverb and adage, but in common usage, the words are interchangeable. There may be a sense that adage is a classier word than proverb. Because a saying becomes a proverb or an adage by being repeated from generation to generation, the expression â€Å"old adage† is often criticized for being redundant, but it is very common: According to the famous old adage, all roads lead to Rome. Remember the old adage, A pictures worth a thousand words? He said President Reagans old adage about trust but verify is in need of an update I confirmed with Brenda that what she is trying to convey to her students is the old writing adage â€Å"show, don’t tell.† As that last quotation is from the Grammar Girl herself, Mignon Fogarty, I wouldn’t be too quick to criticize. Numerous lists of proverbs and adages can be found on line, but their compilers don’t always distinguish between actual proverbs and quotations from song lyrics and literature. For example, All you need is love (Beatle song, 1967) ‘Tis better to have loved and lost/Than never to have loved at all. (Tennyson, In Memoriam, 1850) The female of the species is more deadly than the male. (Kipling, â€Å"The Female of the Species,† 1911.) Many proverbs are couched as advice: Dont cross the bridge till you come to it. Dont put all your eggs in one basket. Dont rock the boat. Let sleeping dogs lie. Never let the sun go down on your anger. Never tell tales out of school. Waste not want not. Judging by some of the questions that have stumped recent Jeopardy contestants, the passing on of proverbs seems to be in decline. 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 Misused Words category, check our popular posts, or choose a related post below:20 Great Similes from Literature to Inspire YouFive Spelling Rules for "Silent Final E"Ulterior and Alterior

Do countries really benefit from international trade

Do countries really benefit from international trade Countries do benefit from international trade in a broad way. There might be flaws as far as benefiting from international trade is concerned but there is evidence to show that many countries have benefited from this. Every country has its own expectations and targets as far as benefiting from international trade is concerned and this is something that has always differed. It is quite evident that every country goes into international trade with an aim of benefiting and this has been fulfilled in various occasions.Advertising We will write a custom essay sample on Do countries really benefit from international trade? specifically for you for only $16.05 $11/page Learn More There are good signs and indications to show that international trade has benefited many countries and this should be capitalized on for long term sustainability (Glyn 23). Therefore, it is undeniable that countries have benefited a lot from international trade. We live in a unique society where we can not say that we have everything thereby justifying international trade. The world has become an open economy where people can move from one place to the other without many restrictions thereby advancing trade. There is no country that has ever shied away from international trade and this is a fact. In this case, we can not say that there is any given country that lives in abundance meaning that there is everything to gain through strategic partnerships and cooperation. All the countries whether developed, developing or underdeveloped can benefit from international trade in various ways. International trade can only thrive in an environment that does not have any barriers (Watson 34). Such barriers can be looked at from an economic point of view through quotas, tariffs and other government subsidies. In cases and occasions where such aspects have been well effected and implemented, countries have benefited a lot from international trade. Such practices enable different countries to get goods and services that they are not able to produce on their own. Countries benefit from international trade because it has become the backbone of our modernity and commercial world. This can be looked at from different perspectives because there are positivity’s and negativity’s that can be realized from international trade. It is quite practical that producers from different countries can benefit and profit from a wide and open global market through international trade. There is a large population that has been lifted out of poverty through international trade. International trade enables companies to access new markets thereby employing more people from their communities and environments (Glyn 51).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the long run, a lot of people are lifted out of poverty because they can create wealth and invest. Economists argue that people will only invest if they have a good disposable income through savings. In this case, an expanded market means that different companies will be profitable thereby giving employees’ a good package. As time goes by, people and employees invest in their societies thereby creating wealth. The general theory of comparative advantage has been put into practice through international trade thereby benefiting various countries and companies. In this case, the more it’s put into practice by people, the more it benefits countries. There are occasions where international trade has led to socio-economic inequalities but this can not override the benefits that come with it. This has only been practical where good policies and frameworks have not been put into place. As far as Adam Smith is concerned, individuals, companies and nations can be better off if they specialize in the production of a given good instead of striving to be economically self- suffi cient. This therefore justifies international trade which seeks to give people different goods and services that they can not produce in their own countries (Glyn 21). This principle of specializing in the production of a given good or service can be applied in international trade for long term sustainability. All this should be done for mutual benefits meaning that there is no country that can participate in international trade if it is not benefiting in any way. There has been an argument that countries can benefit from international trade even if a given nation is producing two different goods cheaply than the other. International trade occurs across borders and this has given different countries a big boost on their GDP as time goes by. In this case, countries that have wanted to grow their economies quickly have occasionally relied on international trade to achieve this. International trade is very lucrative than it used to be in previous years and this is because of the intere st and attention that it has been given. In this case, industrialization and globalization have changed the approach to international trade thereby giving it a new face and dimension (Watson 56). Nations have benefited from international trade through the value of peoples lives. In this case, their choice is not limited in any way which opens up borders. This means that people are not confined to what they have been given which is the nature of human beings.Advertising We will write a custom essay sample on Do countries really benefit from international trade? specifically for you for only $16.05 $11/page Learn More Countries can not say that they have not benefited from international trade because it saves on costs. In this case, a nation can produce its goods in a different country that has low costs of production. Income opportunities have been created through international trade thereby benefiting locals and the country at large. Every country has its o wn laws and policies that govern international trade and this means that they should always favor them. This means that mutual understanding and corporation should work in favor of both countries. As a matter of fact, the world trade organization has been monitoring trade activities to ensure fair play. This has enabled countries to enhance their relationships thereby benefiting everybody. Problems have been identified in advance to ensure that good solutions are arrived at for long term sustainability. Through international trade, countries have been able to increase their stock of resources (Watson 71). Most notably, the supply of labor and capital has been enhanced as time goes by. Foreign investors have been instrumental in the transfer of capital through numerous business opportunities that exist in different countries. Free trade has been identified as the key concept under which international trade operates. As a matter of fact, free trade has not been practical throughout th e world. This is based on interests that different nations and individuals have as far as restricting others from their territories is concerned. The benefits of specialization and free trade can not be disputed because this is something that can be seen in the world today. There is an argument that free trade has failed to deliver what it was intended to achieve but this is based on different expectations (Glyn 29). For instance, poor countries are still poor but we can not expect international trade to solve all the problems yet other countries do not have the capacity. The ultimate aim of trade is to benefit both parties and this should be achieved through good interaction and mutual understanding. Thorough international trade, various countries have established agreements and treaties that have ensured that they benefit well. There are countries that have good economies of scale meaning that it will be much easier for other countries to shift production which is good. Internatio nal trade is very complex meaning that countries can never be equal.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In this case, it is quite obvious that a different nation will have more economic power over another but this should not be used against trade because there is something that they can benefit together (Watson 36). Consistency in trade has given countries an opportunity to reevaluate their approach to international trade thereby correcting their initial mistakes. Countries have always wanted to finance their budgets and take care of their infrastructural projects which can be enhanced through international trade. In this case, countries have ended up earning foreign money which enhances growth. As a matter of fact, this money stimulates economic growth and developmental activities that can not be achieved single handedly. Standards of living in different countries have been enhanced through international trade as people travel to different destinations to grow their business. As a producer, it is quite obvious that markets need to be expanded to enhance growth (Glyn 33). This means t hat there is nobody who can say that international trade is disastrous because everything has been going on well. Countries will continue benefiting from international trade because there is an urge and effort towards self sufficiency. This means that there should be less reliance on foreign aid to correct inequalities. Glyn, Davies. Ideas: A history of money from ancient times to the present day. Wales: University of Wales Press, 2002. Print. Watson, Peter. Ideas: A History of Thought and Invention from Fire to Freud. New York: HarperCollins, 2005. Print.

SE Machinery Pty Ltd (SEM) Term Paper Example | Topics and Well Written Essays - 2000 words

SE Machinery Pty Ltd (SEM) - Term Paper Example When the customer contributed $500,000 as capital contribution to SEM in May 2011, it appeared in the books as part of the Equity or Capital Account and reported as part of the gross profit by yearend which ended June 2012.. In such a transaction wherein actual cash was received and SEM chose to recognize the cash inflow as capital, the tax law provides that this be considered as ordinary income. Division 6 – Assessable Income and Exempt Income, Section 6.5, states that Australian residents’ ordinary income are assessed whether derived from within Australia or outside, including those derived indirectly or directly â€Å"from all sources† (Australian Parliament 1997, Section 6.5). As Flynn, M.(2009, p.171) had stated, â€Å"The second test is to ask whether the receipt represents a flow produced by an item of capital. If it does, the receipt is revenue.† B. However, the Arthur Murray principle will apply for the prepayment. According to Kater, E. (2009), u nder that principle, income is generally not derived until after services or products have been delivered, except in a situation wherein there may not be a refund of prepayment according to a contract. There was no contract which specifically stated there can be no refund under certain conditions. Income was recognized in June 2012 even though products were yet to be delivered in August 2012. The prepayments were recognized as revenue so that the gross profit includes the value of that prepaid order. But requirements for such a capital contribution to be considered an Income of SEM were not yet completed although prepaid. The goods (Teftoffelex) were delivered only in August 2012. Since there is no contract stipulating that the prepayment was not refundable, the Arthur Murray principle will allow for the delay in payment of Income Tax corresponding to the $ 1,200,000 worth of orders. SEM has received payment and delivered the orders only in August 2012. Thus, this will result in hav ing unearned income as of yearend, June 2012. The Arthur Murray Principle will be applicable because income should be recognized only after the fulfilment of an order and after payment had been received. But this only means that in the next income declaration, income tax would have to be paid for the $1,200,000. The book entries should have been as follows (Appendix 1) It is only after the delivery of goods that the liability account, Unearned Revenues, amounting to a total of $ 1,200,000 should be reversed to consider the entire $ 1,200,000 as Sales. Thus, the proper advice to SEM is to adjust the Sales by $ 1,200,000 because it is in fact still a liability (as Unearned Income) and will remain that way until the goods are delivered. II A. Explanations for Revenue and Expense Accounts 1. Bad Debt Deduction After Write-Off = $8,000 Section 63 paragraphs 34-39 allows for deductions of bad debts only after they have been written off. (AG/ATO 2012, TR 92/18). The Australian Taxation Law under Act No. 55 as amended, in Division 21-5. 2. Interest Expense on Working Capital = $ 25,000 Borrowed @ 8% Interest From February 1, 2012 to end of June 2012 which is 5 months, SEM should recognize the accrued interest expense. This would amount to 25,000 x 0.08 x 5 mos. / 12 months = $ 833. According to the AASB 123 Core Principle (AG/AASB 2009, p. 7 & 9), â€Å"Borrowing Costs that are directly attributable to the acquisition, construction, or production of a qualifying asset form part of the cost of that asset. All other borrowing costs are recognized as an expense.† This should include interest (Section 6a p. 9). Usually, interest expenses are prepaid upon release of borrowed money. And based on the Principle of Profit Determination of the AASB(AAT & Willis, D. 1997, p.7), the expense should be matched with the revenue given a certain period. Thus, upon receipt of the loan, interest expenses should have been treated as Prepaid Interest. And the Prepaid Interest asset account should be reduced by the accrued expense value which would amount

Finance Essay Example | Topics and Well Written Essays - 3000 words

Finance - Essay Example The capital structures of the companies were affected strongly since the availability of debt capital financing as well as equity capital financing declined considerably. Under influence of the financial crunch firms reduced security issuance and financial institutions reduced issuance of loans by a large extent (Fosberg, 2012). Among many consequences, the major consequence faced by the firms was in their capital structure. The defaults of mortgage loans led to significant increase in debt amount of the firm’s capital structure. Results of recent research show that between the years 2006 and 2008 the market debt ratio (MDR) of the firms increased on average by 5.5 percent (Fosberg, 2012). The financial crisis was supplemented by severe recession in the US economy which boosted the soaring market debt ratios of the firms. If the effect of recession is removed then debt accumulation of the firms solely due to the financial crisis has been found to be approximately 5.1 percent ( Fosberg, 2012). This affirms the severity of the effect of the financial crisis on debt accumulation by the corporations and their capital structure. ... n capital structure made by the financial crisis, different factors were adjusted, such as, reduced profitability of the firm that resulted from recession. Although the effects cast by the financial crisis were major, the effects of recession were also huge and put significant effects on the debt capital financing by the firms. This paper evaluates the effects of the crisis critically from the points of view of three most recognized theories of capital structure and provides explanation with the help of real examples of companies that have suffered the impacts of the crisis. Literature Review Brigham and Ehrhardt (2002) explain in their book, Financial Management, that capital structure is one of the important instruments that allow firms to maintain control of its administration. Improper capital structure might be fatal for any organization. Capital structure relates to the various components of the financial policies made by the firms regarding investment activities (Jones, 2011). It is related to bankruptcy risk that high leverage firms might face during financially instable times. While the use of more leverage magnifies returns for equity holders, the downside threat of holding a large amount debt is very high. Therefore, firms should carefully consider their capital structure in their financial policies (Gunay, 2002). Debt financing The proportion of debt financing in the capital structure of a firm differ between firms and also depend on the existing capital structure. The type of debt incurred and the extent up to which the debt is extended are decided by the factors such as the cost of the debt and its availability to the firm. Without taking bonds into consideration, debt financing can be categorized in to two types, namely, financial credits and trade