Cox’s Container Company (CCC) Essay

In the modern constant changes business environment, company needs to change constantly to remain competitive in the market. If not, the company will be facing survival risk. There are no mercy and exception for Cox’s Container Company (‘CCC’). CCC faced increasing competitions over the past 5 years and profits are in declining trends due to reduce in margins. Harold Cox was clueless on how to rectify the problems. He has delegated the task to Erica Wilson to review CCC’s operations and oversee organization changes. Under her control and management, new central administration department was formed to implement budgeting system and company-wide information system. First time in the history of CCC, Wilson recruited external appointees to hold managerial post in the new central administration department. However, no one seemed very keen on the new system and encountered strong resistance from Abdul Aziz, manager of production department who incharged 2/3 of CC C’s total staffs. After so many years since CCC was established, Harold Cox had done not much changes to CCC’s structure and culture. CCC still practicing simple structure with flat hierarchy and decision-making is highly centralized in the hand of the Cox family. This allows Cox to run the operations flexibly, direct communication to avoid message being misinterpreted and wrongly manipulated, wide span of control as all managers reporting to him and expedites the decision-making process without going through layers of people. However, simple structure is more suitable for start-up or small firms for flexibility, control early growth and developments whereas centralization discourage innovation and no creativity. As CCC grows larger in size, it also more difficult for Cox to control and coordinate them effectively. According to General Sir Iain Hamilton once said ‘No one brain cans effectively control more than 6 or 7 other brains’. Moreover, when information and data are overloaded, he may not has sufficient times to handle and analyze to make full use out of it. Culture and authority of CCC is power culture and traditional authority. With Harold, there are addition of charismatic authority found on his supports to ethnic minorities. Power culture (Handy, 1993) depends on a central power source, few rules, informal system and decision are based on a balance of power rather than logic whereas traditional authority are the ability and right to rule is being passed down, i.e. CCC being passed down to Cox family member. Similarity of those are being very dependent to a single person and capability of that person are very much to determine the direction and successfulness of the company. In the history, many of the family businesses that stagnated and were eventually annexed in Britain after the Second World War were power cultures that had die in the centre. Hence, CCC might has going concern issues if successor of Harold is not as good as him and not supportive towards ethnic minorities. Besides retirement of Harold, majority of staffs in production department have worked for CCC for more than 10 years will have similar timing of retirement. This might be a risk of CCC facing shortage of production staffs in the future and affect productivity. Internal promotions have advantages of saving in times and costs of induction program for new staffs, boost morale and motivate staffs to perform. But, all senior positions in the production department have been filled through promotion of shop floor employees with no proper evaluation on competency and professionalism will affect company performance. It is not only no new ideas being introduced, it might be challenges for them to adapt to new technologies and working practices, i.e. new system implemented by Erica. Most importantly, senior manager are the person that make decision on behalf of the company and the effect that decision outcomes have on the lives of all organization members (Henry Mintzberg, 1989 cited in Huczyns ki and Buchanan, 2013). Another areas to pay attention under Cox management will be informal group formed due to empowerment for each functional department as form of motivation to improve performance. As Aziz being the manager of production department and ethnic minorities relying much on Aziz to safeguard their interests and benefits. This dependent relationship created Aziz as transactional leader. A leader who treats relationships with followers in terms of an exchange, giving followers (ethnic minorities), what they want (safeguard their interest and benefits) in return for what the leader desires (Aziz had easily established his identity and enjoying autonomy within the production department) following prescribed tasks to pursue established goals. Indirectly, Aziz has the capability to influence his staffs’s behaviour and contribute to mutual need satisfaction. In the other hand, in the opinion of Aziz, there are informal group being formed under John Straw to run the whole company on his own interest without knowing the complexities of production which was a formal group created consciously by management to carry out a specific task (implementing new system) and accomplish CCC’s goal (improve CCC’s operations). According to Homans (1951 cited in Huczynski and Buchanan, 2013), informal group formed according to their self-interest which may not work together to achieve the common goal. As Wilson was given the authority to make changes to CCC’s operations. She has her own management style to run the whole process of changes. She is an autoratic leader by accomplished the task entirely on her own and conclusion drawn based on her own judgement with no consultation and input from anyone. Autocratic leadership will be good when time is short but lack of creativity. She also moved CCC’s structure towards mechanistic structure with standardization, many rules and little autonomy, i.e. budgeting system to replace the rather informal system and requires all departments to inform the central administration department twice daily basis of work in progress. Different structures give rise to different culture (Handy, 1993). Thus, culture also change from power culture to role culture. Role culture also emphasize on the importance of rules, procedures and its operation are driven by logic and rationality. Authority of CCC will be legitimate authority that based on formal and written rules. According to Weber (1947 cited in Huczynski and Buchanan, 2013), an organization based on legitimate authority would be more effecient than one based on either traditional or charismatic authority. This was because its continuity  was related to formal structure and the position wi th it, rather than to a particular person who might leave or die. Since Wilson is the sole decision maker on what and which area needed for change to improve CCC’s operations. She had conclusion drawn based on her own judgement and interpretation from her personal experience, expectation and belief with no feedback obtained. Feedback will be important and enable for her to complete the survey more holistic. According to John Mezias and William Starbuck (2003 cited in Huczynski and Buchanan, 2013), management perceptions are often wrong due to selection of information that fits their expectations and pay less attention to information that does not. Generally, group decision are better than individual decision. It will be more advisable to involve relevant CCC’s staffs like Aziz contributing their diverse skills, knowledge and experience in production process for Wilson to understand the situation clearly to make better decisions and more alternatives to solve problem faced by CCC. In addition, staffs particularly Aziz felt recognition and respect through participation, understand the decision better and wider acceptance of decision make by Wilson. Likewise, if CCC’s staffs knew that Harold is more interested in finding issues that fit into causing declined in profits of CCC rather than finding out the facts with no further verification of the accuracy and basis of the report and conclusion drawn as Harold also unsure how to proceed. In addition, many people believe that making the right decision late is the same as making the wrong decision as Harold is anxious to improve the profitability of CCC. CCC’s staffs will be demoralized and demotivited, then CCC is infected with destructive cynicism. Wilson also has not informing staffs on the needs, benefits and objectives of implementing the new systems. As no clear direction and understanding the  need of change, staffs were not very keen on the new system and the degree of new system would affect their current working practices. They might also felt that they are being push out of their comfort  zone and found it stressful and frustrating to cope with the new system. As a result, readiness for change from staffs will be low and leads to high in resistance to change. With no support and collaboration from staffs these make implementation more difficult. Wilson has had making it worst with the survey was being conducted in some secrecy way created negative atmosphere in the company. The intention of Wilson to recruit John Straw, Eric Long and Simon Pedder to hold managerial post in the new central administration department is to have new blood to bring in innovation and creativity. With their experienced in previous company, they will be able to contribute an effective operational and cost controls for CCC. However, due to background and experience of them have no relevancy in manufacturing or production, it may not be convincing enough for staffs to trust and follow their instruction. Later encountered strong resistance from Aziz which has worked more than 10 years in production line and very defensive of production department has no issues on getting orders out on times and achieved zero defects. They may also have different culture and shared different values as other staffs. Communication climate (Jack Gibb, 1961 cited in Huczynski and Buchanan, 2013) exercised by Cox and Wilson was one way and closed communication climate where information was withheld, no sharing of the finding of the survey, strategies and problem faced by CCC have make no awareness to staffs. Staffs might felts discrimination, distrust and doubtful on self worthiness after long services of contribution to CCC. Misunderstanding easily created between staffs and management might led to minimum staffs engagement and  supports to comply with changes implementation and making it more difficult and may not align with CCC’s objectives. During the process of implementing the new system in CCC, there are no top management briefing conducted which is considered one of the best way to encourage staff engagement especially it is from Cox as he is regarded highly within ethnic minorities. With his traditional and charismatic authority, he is able to influence staffs behavior and engageme nt to comply with the changes implementation. 5 Once there are no effective communication internally within CCC and due to differentiation in culture, perception, politic and staff’s legitimate interests. Conflict between staffs is inevitable as each attempts pursue its own objectives. A company needs conflicts as a positive forces for managers to think, critisicism for self refection and innovation for effective performance. However, if conflict do not handle properly between Aziz and Straw team under Wilson new management. As perception of Aziz towards implementation of formal system and tight reporting is form of threatenning their’s interest and change of structure also changes the balance of power and autonomy possed by Aziz. It will be turn out to be dysfunctional conflict and hinders company performance as Aziz has the ability to influence behavior of 2/3 of CCC’s total staffs on level of productivity. If failure in resolving the conflict, CCC will have survival issue in the long run due to deteriote o f company performance. Hence, changes and continuing to change within internally is a must for CCC to survive in the long run to cope with complexity and be responsive to environment uncertainty. Do nothing will not be an alternative and choice for CCC. As globalisation and expansion of CCC, simple structure with flat hierachy and power culture may not be as responsive to opportunities and challenges in the long run. Second alternative will be remain with Wilson’s coercive change strategy to  implement the change even though without support of Aziz. According to Doug Stace and Dexter Dunphy (2001, cited in Huczynski and Buchanan, 2013) , where organizational survival depends on rapid and strategic change and short of time, dictatorial transformation is appropriate. In the later or appropriate stage, Wilson may implement technology into producing containers using the techniques of mass production to standardised quality of products, elimination of waste and reduction costs which will go well with mechanistics structure. Mass production has characterics of boredom of repetitive of works and low morale led to high levels of absenteeism and complaints. The solution to boredom were job  rotation and job enlargement in term of installation of machine, enhancement, integration and inspection.  Third alternative of change management strategy will be the role of the change agent. This approach will need involvement of top senior management who are credible and acceptable. In this case, Harold Cox will be the most appropriate and suitable person. He with his power and charismatic leadership, he is able to influence and motivate ethnic minorities to support and cooperate with him for fact finding and proceed with the changes make to CCC’s operations. He may also appoint professional consultants to carry out the investigation or combination of both. The first alternative is not preferred due to successfulness and survival of CCC very dependent on one person whereas third alternative also not the most preferred but still workable but will be time consuming. If involving external consultant then Harold needs to manage the external consultant of their own commercial interest as well as costing issues. As there are no correct way or one way solution, the most preferred will be the second alternative. The second alternative will be able to achieve the company objective and long term goal as explained above. For making the transitional  more harmony and smooth, Wilson should be more sensitive on culture differences. She should educate staffs with training and practice open two ways communication as well as get more participation and encourage more involvement of staffs in carrying out the survey and implementation. Besides implementing rewards system will be able to motive staffs to performance and aligh with company to achieve comm on goal. According to Meaney and Wilson (2009 cited in Huczynski and Buchanan, 2013), the successful rate of planned change programmes is less than 40% and that estimate may be optimistic, and 2/3 fail to achieve their objectives (Gardini et al., 2001 cited in Huczynski and Buchanan, 2013). In order to meet company’s objective and successful with change. The  following plan of action is recommaned by John Kotter (2007 cited in Huczynski and Buchanan, 2013). 1. Create urgency Wilson should inform all staffs on problem faced by CCC with evidence. Developed scenarios and consequences, if no full cooperations and supports from staffs. 2. Form a powerful coalition Wilson should involved Aziz to form a coalition, for him to lead the change on his production department to achieve maximum results. 3. A clear vision †¢ A clear vision of change must be developed by Wilson with achievable  startegies and realities plans to inspire all staffs to change, to align with company’s goals. 4. Effective communication †¢ Vision must be communicable and communicating in two way and openly, this can be done through compulsory training to ensure familiarity and responsive from staffs. 5. Remove obstacle †¢ Harold and Wilson should have an honest dialogue with Aziz to problemsolved resistance from him and seek for collaboration. If not, backup plan must be in-hand for Aziz leaving for change to be implemented successfully. 6. Motivation and rewards †¢ Carry out change in stages to avoid unbearable failure. Once short term milestone has achieved, recognized and rewards those involved as motivation to more forwards. 7. Assessment †¢ Periodic assessment needed to ascertain improvement, enhancement and amendment in placed to cope with changes from environment and market to achieve company’s goal. 8. No anchoring †¢ Even though tradition is a powerful force but management should walk their talk to ensure new changes and culture are planted. Making it happen and making stick. The above should take placed in sequence and staffs need time to adopt and familiarised with the new of structure and culture. Thus, Wilson should understand that changes can only be carried out in stages and not to rush in order to change effectively and efficiently. References Handy, Charles B. (1993) Understanding Organizations, Chapter 7: On the Cultures of Organization pp180-216. London:Penguin. N. Anand and Richard L. Daft (2007) What is the Right Organization Design?. Elsevier Inc. Nigel Bassett-Jones and Geoffrey C. Lloyd (2005) Does Herzberg’s motivation theory have staying power?. The Journey of Management Development. Dexter C. Dunphy, Doug A. Stace (1988) Transformational and Coercive Strategies for Planned Organizational Change: Beyond the O.D. Model. Organization Studies. Andrzej A. Huczynski and David A. Buchanan (2013) Organizational Behaviour Eigth edition. Person Education Limited.

No pain, No gain Essay

The proverb, no pain no gain means no effort, no success. Parents make their children pursue education since childhood, aiming to lead a better life. With peerless parental love, they want their children to be educated people. They often tell us to work hard at our lessons. They beat or scold us if we do not study well because their life experience proves that â€Å"No pain, no gain.† We cannot succeed in life without taking pains. To pass examination, students must attend classes regularly and learn their lessons daily. If we do not work hard, we will meet failure no merely in examinations but also in life. Similarly, a continuous training is necessary for soldiers to defend themselves and to defeat the enemies in the battlefield. Not an athlete will win over games without serious training. Likewise, a healthy person possesses his sound health by doing physical exercise, taking nutritious food, drinking clean water and living a healthy lifestyle. Here I would like to say teachers take great pains in teaching so that their students can learn more lessons and pass the examination with high marks. All these examples tell us that there is no effortless success in life. There is nothing we can get easily and readily. To sum up, we cannot gain any success without pain or effort.

Challenges Women Went Through Economically, Socially, And Politically During The US Reconstruction Era

Challenges Women Went Through Economically, Socially, And Politically During The US Reconstruction Era Throughout the Reconstruction era, the lives of women in the North and South progressed economically, politically, and socially. Women were becoming part of the emerging consumer culture while becoming more active in a political sector. Given how the ideal of â€Å"true womanhood† began losing its eminence in U.S. society, the New Woman began gaining popularity with their higher levels of education, leisure time, working for a wage, and participating in politics. With women gaining personal freedoms, restrictions were still placed upon them to look and act a certain way amongst through the previous model of true womanhood, though its representation varied given the woman’s race and social standing. During the 1860s and the nineteen-teens, new opportunities for higher education were available. However, those who benefitted from it most exclusively were wealthy white women. With their higher education, women were able to have better opportunities for jobs not believed to be fitting for women: administration, clerical, law, and political positions (Dubois and Dumenil 302, 327). Wealthier women also were able to run their own settlement homes; one such woman was Jane Addams. African-American women could become shopkeepers and teachers, but complicating their new freedom was the establishment of Jim Crow laws and public lynchings under often false charges. In Ida B. Wells’ autobiography, Crusade for Justice, she described the lynching of friend, Thomas Moss, as â€Å"an excuse to get rid of Nergoes who were aquiring wealth and property†¦keep the race terrorized.† Her testimony, as well as her involement of further investigating the charges brought on by lynching victims, led to her being driven out of Memphis in 1892 (Dubois and Dumenil 314, 316). Sadly, working- and lower-class women were not offered the same opportunities for further advancement in U.S. society. They were sequestered in factory jobs and their stays in settlement homes only provided temporary relief in their situations, though their way of life was respected (Dubois and Dumenil 368-9). In contrast to immigrant women’s education, the education young Native girls received in government-run boarding schools was designed to assimilate them in the dominant American culture given how American felt there was a need for non-Americans to become civilized. For the Native girls, it meant settling into domesticity and receiving harsh punishments—whippings or being tied up—if they â€Å"reverted back to their Indian ways† or tried escaping (Dubois and Dumenil 349). To receive funding, Indian boarding schools would present pictures of Native girls before and after their â€Å"Americanization.† A pair of photos taken of three young Native girls before and after their assimilation shows their hair being cut, dressed in American clothing, and sitting at a table. The only commonality is the look of sorrow on their faces. Given their low status, it was rare for Native children to progress in society when very few achieved basic English literary skills. With women having more free time for leisure, there was an expectation of women to be seen as presentable and beautiful when outside of the home. Cosmetics, previously worn by prostitutes, were sold and presented to women as something to cover their flaws, attract future husbands with, set themselves apart from other women, and to set the standards of beauty for other women especially young girls. Further boosting the sale of cosmetics and formation of salons was the monitoring of a woman’s appearance by men and other women, advertisements, the private selling of makeup door to door, and cosmetics expanding to be sold in local drug stores (Peiss 373-4, 378). Wearing makeup and keeping up appearances was an indication of a woman’s wealth and how highly she valued herself. If a woman of lower class was seen without makeup in the public sector, she was deemed as inferior as opposed to middle and working-class women who bought makeup and would wear it while working. Durin g the Progressive era, wealthy women outside the home had the freedom to become philanthropists and activists. One of the most prosperous philanthropists was Madam C.J. Walker, the daughter of slave parents, who acquired wealth and status in the cosmetics industry aimed for African-American women (Dubois and Dumenil 421). The growth of women wage earners increased during the Progressive Era. By 1920, twenty percent of the workforce was female with over half of the labor consisting of immigrant and/or non-white women. After the Civil War, the profession of nursing was no longer seen as a â€Å"domestic service†. Even the profession of teaching evolved to where women could be professors. Despite segregation being enforced in the North and South, black women were able to form their own schools in local communities to educate young children during the professionalization (Dubois and Dumenil 408-9). Despite these changes, women were still expected to become mothers and put aside their professional carriers while the children were young. Immigrant women, wives and daughters, were expected to become wage earners while trying to maintain old world customs. Their way of earning money was through domestic housework for the more leisured White upper-class women. Given the surge in immigration, many live d in cramped and poorly kempt rooms. A photo taken by Jacob Riis for the New York Tribune shows five women staying possibly temporarily in a police station with clothes drying and their only means of furniture and heating is a stove. Riis’s photo reveals the extent of homelessness, collapse of a working-class family, and why many immigrant women and why immigrant women felt the need to contribute a wage for their families (Dubois and Dumenil 392). With more women working outside of the home, women began to voice their opinions more publicly and politically. The newest wave of the suffragist movement gave middle-class women voices in political settings while drawing attention from the wealthy and working-class women. However, the funding for marches and attention came from the wealthy women’s husbands. During what would be the Women’s Era, women’s organizations such as Women’s Christian Temperance Union (WCTU) and National American Woman Suffrage Association (NAWSA) granted women voices in politics through demands of fair wages, the establishment of a maximum workweek, and ending child labor (Dubois and Dumenil 286, 309-10). In addition, their alliance would bring more attention to women’s suffrage, especially with an endorsement from Susan B. Anthony and a shift to have women’s votes be amended. Some immigrant women joined the women’s movements under the promise of gaining fre edom for themselves, and possibly for their daughters (Dubois and Dumenil 363). Yet no black woman was invited to attend women’s movements and organizations, nor was there Native American women involved in women’s organizations known to have occurred. African-American women had their own organizations, but they were segregated from movements founded by white women. The change of the American women’s role in life began in the middle of the nineteenth century and continued into the first decades of the twentieth. During that time, women had gained more influence and prominence politically and socially (Dubois and Dumenil 441). However, women were still expected to achieve the goal of motherhood. What differed was now they had the greater possibility of working outside of the home while being a mother or not becoming a mother at all. With vast amounts of freedom, women challenged social expectations while still being expected to maintain a form of decorum and femininity. In the long run, the degree of freedom women had was evident in comparison to the early nineteenth century, but their independence was reliant on their class and race. More opportunities and means of social advancements were available to the privileged and leisured classes, but non-white women were limited in job prospects and faced segregation, discrimination, and violen ce. In spite of everything, improvements women made paved the way for a new era of women’s rights and liberties.

The art of one-on-one interview Essay Example | Topics and Well Written Essays - 500 words

The art of one-on-one interview - Essay Example Roy J. Blitzer points out that the traditional mode of interview, i.e. one-on-one interview is most popular (Blitzer 148). First of all, the interviewees answer makes clear that a child does like to have pets, especially dogs. Most of the people remember their first job, but some of them do not like to reveal their first payment. Similar to other youngsters, my friend likes to read books, gardening, swimming, and working out. The interviewee is aware of American history and admires the dedication shown by the famous people. Similar to other youngsters, the interview likes science fiction films like Avatar. The interviewee is with strong will power because he does not like to do things which he does not like. The interviewee is proud of his sense of humor because it helps him to be successful in his life. The interviewee was able to achieve his short term goal and is working hard to achieve his long term goal. Similar to other MJ (Michel Jackson) fans, the interviewee made clear that he would like to meet him (if he was able to do so). The interviewee considers that the most embarrassing moment in his life was the day in which he was away from his friends. This proves that he is so social and attached to his friends in general.

Comparative governance Essay Example | Topics and Well Written Essays - 2500 words

Comparative governance - Essay Example In slide three it has been discussed that the participation in electoral processes is a broader concept and it is not just about voting. There are various roles in political participation such as the ability to speak out freely, assuming an important role in the management of public affairs, opportunity to register as a candidate, conducting campaigns and to get elected and hold office at various departments of government (Andrew and Tremblay, 1998, p. 249). The role that women play in politics is considered to be very crucial. It is also considered as an important factor for women in determining their political empowerment (Tremblay, 2005, pp.50-55). Slide four mainly discusses the legal point of view with respect to female participation in politics. There are no legal hurdles that exist in the system to restrict woman to participate in the political process. In practicality the situation is quite different though. The field of politics has been mainly dominated by men. Under such c ircumstances it is really very difficult for women to get an entry in this field. Unless a woman has a close acquaintance with a male politician, it is really very difficult for her to enter into the field of politics. In countries such as UK, women find it very difficult to get accepted as potential candidates by the political parties. If they also find a seat in this regard, it is considered to be less winnable as compared to those for which men are selected (Childs and Krook, 2010, pp. 215-221). Among the 28 member states of EU, the UK is said to have a proportion of women MPs which is considered fifteenth. The fifth slide discusses the role of governments in this regard. Governments should effectively formulate and administer the affairs of public policy. The government is considered as that agency in society which holds monopoly over the use of legal coercion. It should exercise its

Disaster Management and Emergency Planning Essay

Disaster Management and Emergency Planning - Essay Example This report would highlight, in clear terms, the actions expected of the emergency response units: with a great emphasis on how the casualties are attended to; how the public is being warned of the danger of the incident; and how media representatives are properly handled in the course of this catastrophe. The magnitude of this disaster calls for rapid establishment of an effective command structure. According to the classification of emergencies in UK, this scenario can be categorized as a â€Å"serious emergency† (Level 2), because it is a terrorist attack on the welfare of people. In such a situation, a Co-ordinated Combined Government Command Structure (CCGCS) may be necessary to help the casualties. This depends on which section first of all responds to the incident. The UK Central Government, after deliberating on the urgency of the issue may firstly activate Cabinet Office Briefing Room (COBR), chaired by the Prime Minister. Since this incident occurs in the Promenade of Blackpool, which is located in Lancashire, North West of England, the response would be led by the appropriate Lead Government Department in that English Region. Initially, local responders are naturally expected to start the rescue operations: and when this is carried out by the local police led by Police Gold Commander, Strategic Co-ordination Group (SCG) would be activated (which comprises of all the representatives of rescue/ emergency organizations and agencies in that locality). The main guiding principles behind the operations of the Co-ordinated Combined Government Command Structure include preparedness, situation monitoring, continuity, subsidiarity, crisis detection support, containment, communication, integration, response, de-escalation and recovery (Moore & Lakha 2006). The Strategic Co-ordination Group may involve Regional Resilience Team

Brand management Assignment Example | Topics and Well Written Essays - 1000 words

Brand management - Assignment Example Some of the aspects of BIG are not fully satiating. That one has to spend points with Air Asia only whereas other airliners such as the Qantas are flexible enough to allow one to choose from a myriad of brands undercuts BIG’s policy. BIG also does not factor the use of AUD in money conversion points and this is a minus. The relevance of information presented is relative. This is because one of the chief points of concern was student-friendlier air prices, yet Air Asia zeroed in on matters such as comfort and the introduction of online shopping events and stores and entertainment events and accommodation services. Reconsidering BIG remains a tenable option, given its student-friendly rates, compared to other options. This also means that should there be another company offering cheaper airfare, personally, it will be considered beside the offer being put forth by BIG. BIG’s reward system fall short of fully exciting, sincerely, given that it is largely unfair to those wh o are not regular travelers like me. Secondly, BIG’s package and offer makes the assumption that every client is a sole decision maker, yet that is not the case with me. Like my peers, I travel with my parents since I am still 18. BIG also in its advertisement claims that its services are cheapest, yet this is clearly an artifice to retaining customers. This is because, the rates are subsidised only to those who have punctiliously followed up the stipulations of the loyalty programme. Some of the areas of improvement include the systematic arrangement and presentation of information, especially information which is significant to students’ interests, proper advertising that specifically aims at students who are hard to market target due to their strict budget, and the need to utilise the use of Facebook to market Air Asia, since scholars such as Alloyce and Forte (2011, 22), Franc (2012, 34) and Bedeyore (2005, 75) have already acknowledged the place of online social n etworks in business success. I am a moderately satisfied customer since the specific item (student-friendlier air prices) that I was interested in was not available. The failure to organise information in a manner that would make information easily retrievable and the failure to use Facebook are some of the factors that served as a letdown. However, the presence of online shopping events and stores and entertainment events and accommodation services abated the degree of a possible backlash that students would extend towards it. It is not mandatory that I become part of the loyalty programme in order to become a loyal customer. All that is needed is the consideration of students-friendlier rates of air ticket, since this will auger well with my strict budget. Even Miranda (2009, 45) and Ortiz (2012, 13) postulate that the use Facebook and the organisation of information in a manner that would make it easily retrievable and accessible will also help convert me into a loyal client. Ind eed, being part of the loyalty programme may have the potency to change my behavioural predisposition since the move will be instrumental in inculcating in me, the sense that the airline company acknowledges and appreciates me and I am therefore not taken for granted. Considering some of the aspects likeable about the experience Some of the aspects that are likeable about the

Massachusetts Puritans English Research Paper Example | Topics and Well Written Essays - 1000 words

Massachusetts Puritans English - Research Paper Example Furthermore, it expounds on the central doctrines of Puritan faith of depravity, or that everyone existed in a state of corruption, wickedness, and evil, and the doctrine of grace, the belief for some Puritans that they were saved by God and would surely be joining Him in heaven when they died. Finally, it illustrates that the Puritans believed just how easy it would be for a person to lose their faith; this could be lost, no matter how strongly they held it close to them, or how strongly they felt that they had attained that state of grace. Goodman Brown begins his journey believing without a doubt that he is in what Puritans referred to as â€Å"a state of grace†; he believes himself to be one of the â€Å"elect†, meaning that he knows that he will go to heaven. He even muses to himself about the journey that he is about to take and the lament he feels about leaving his wife, even for that one night. He believes that she understands, saying â€Å"well, she is as bles sed angel on earth; and after this one night, I’ll cling to her skirts and follow her to heaven.† Intellectually, and as a whole, Puritans subscribed to the fact that the grace of God and eternal salvation could neither be earned nor denied, even though they spent quite literally the whole of their lives, from birth to death and in between, wondering if their deeds would be gracious enough to earn them a place in heaven (Reis 13). Ministers often preached and delivered sermons to â€Å"three different audiences†, even through one service, as there were those who felt that they were assured of heavenly salvation, those that felt that they could receive it if they humbled themselves to God and His will a little more, and those that believed that they were never going to see heaven, no matter what their thoughts and deeds were (Reis 15). Goodman Brown obviously believes himself to be in the first category, most likely through living a life free of sin and wicked dee ds, and having been in constant prayer and humble service to the Lord. When Goodman Brown is first joined by the Devil on his walk, he boasts to him about how his faith is strong, and that he will never lose it. He states, â€Å"We have been a race of honest men and good Christians since the days of the martyrs†¦we are a people of prayer, and good works to boot, and abide no such wickedness.† Yet, as he walks on, it becomes clear that his faith is not as strong as he thought it was. He sees that others in his village have been consorting with the Devil, including Goody Cloyse, who taught him his catechism (religious studies) as a child, and the minister from the town church. The climax comes when Goodman Brown thinks that his wife is also in league with the Devil, causing him to lose his faith in his fellow man and his wife. Much of this is due to the fact that while Puritans held close the doctrine of grace, they held even closer the doctrine of depravity, and believed, without question, that humanity existed in a state of corruption due to â€Å"original sin†, and only those in a state of grace, or those that were considered the â€Å"elect†, would go to heaven with the Lord; the rest, ultimately, were doomed to an eternity of Hell (Fischer 23). Goodman Brown, then, suffers due to two points of the Puritan doctrine, not just one: first, because he now thinks that many in his village that he believed were surely in a state of grac

The Swedish Climate Scientist - Svante Arrhenius Essay

The Swedish Climate Scientist - Svante Arrhenius - Essay Example Global warming is considered to depend upon two major factors: excessive emissions of carbon dioxide and other 'greenhouse' gases and fluctuations in temperature trends.  During the last decades of the 20th century, global warming was predominantly viewed as one of the numerous side effects of human activity. 99.9% of the overall atmospheric volume belongs to only three gases: nitrogen (78.09%), oxygen (20.95%), and argon (0.93%). However, the climate depends on these three major gases much less than it depends upon the remaining groups of gases that constitute only 0.01% of the Earth's atmosphere. These gases are carbon dioxide (CO2), methane (CH4), carbon monoxide (CO), nitrogen oxides (NOx), chlorofluorocarbons (CFCs), and ozone (O3) and they are known as "greenhouse gases or radiatively important trace species (RITS). They are radiatively important because they influence the radiation balance or net heat balance of the Earth" (Hardy, 2003: 3).  For nearly three centuries the mankind has been raising the concentration of carbon dioxide and other 'greenhouse' gases in the atmosphere. Numerous factories, fossil fuel power plants, and vehicles produce astonishing volumes of carbon dioxide; millions of tons of decomposing garbage coupled with a highly increased population of methane-belching cattle result in the release of excessive volumes of methane; nitrogen-containing fertilizers - the cornerstone of contemporary agriculture - raise the concentration of nitrogen oxide.  In figures, the rise seems rather impressive: while the preindustrial concentration of CO2 in the atmosphere did not exceed 280 ppm, these days the concentration of this gas is approximately 370 ppm which corresponds to more than 30 percent increase. The same tendency is observed in the concentration of other greenhouse gases.

Renaissance Europe Essay Example | Topics and Well Written Essays - 1750 words

Renaissance Europe - Essay Example And can this hypothetical scenario ever be materialized. An etymology for this word say a lot about the possibility of such existence, it was originated by Sir Thomas More (7 February 1478 - 6 July 1535), and used for the first time in his Latin book "Concerning the highest state of the republic and the new island Utopia" published in 1516. Interestingly his conviction in this state could be inferred from the fact that he conjoined two Greek words 'ou' for NOT and 'topos' for PLACE to form a word that literally means "nowhere." Sir Thomas More or Saint Thomas More as he is also refered to was an English lawyer, author, and statesman. He was highly regarded as a humanist scholar, he was bearer of many important public posts including that of Lord Chancellor from 1529 to 1532 in his illustrious career (Roper, 1626). Another cause clbre for which he is remembered is his refusal to accept King Henry VIII as the supreme head of the Church of England. It was his this bold stance that elevated him to the level of great people and his courage and conviction to remain steadfast at the face of adversity earned him the sainthood from the Catholic Church by Pope Pius XI in 1935 about four hundred years after his death. Apart from his principled defiance to the authority he is best known for his most famous and controversial book that was published in 1516 in which he for the first time used the word utopia. In this book he tells of a imaginary character Raphael Hythloday who is a traveler, extensive allegory is used to make the story more powerful and appealing; like the first name is ingeniously used to allude to the archangel Raphael, who is the messenger of truth. And surname in Greek means "dispenser of nonsense". The book is about political set up of fictitious place Utopia, it's a place where there is no concept of private ownership and different faiths are practiced freely and inter faith tolerance is firmly in placed. It is an embodiment of perfect destination where everything is desirable politically, culturally, socially, education wise and economically. With specific consideration to exceptional tolernce to varied forms of opinion and diversity. The purpose of presenting this unique and perfect state was to provide some form of imaginative yard stick at least to measure or correlate the certain dynamics of state affairs that eventually are pivotal for smooth functioning of a state. More very intelligently presented religio-political design of the imaginary state as an epitome of perfection and then compared and contrasted the real life affairs of European states with the ideal standards of utopian state. Thus he was able to devise a mechanism whereby the efficacy and inefficacy of a state could be measured on an arbitrary scale. One very interesting development that was observed from his argument in search of perfect state was that though he had maintained complete religious tolerence for every faith he was also adament in establishing the fact that there was no room for atheism in the utopian society. It was the marriage of convenience since he was catholic in faith and being minority in England needed tolerance of faith but his devout Catholicism did not allow h im have anything to do with godless society. The ostensible reason given by him for this eerie prejudism was because an atheist does not accept any superior power he is

Agricultural Production in Ancient Civilizations Essay Example for Free

Agricultural Production in Ancient Civilizations Essay During the period of 500 C. E – 1000 C. E. ancient civilizations in North and South America and China cultivated and gradually moved from the hunting and gathering lifestyles. These civilizations drifted towards food collection and then farming. This approach, crops and attitudes toward agriculture varied with culture. With the Native Americans and the Ancient Chinese during 500 C. E – 1000 C. E. have both differences and similarities towards agricultural production. Document 1, tells of a story about how Maria Manuela de Cora (an Inca Author) passes along ancient legends. One that is called â€Å"Seeds† that says that one day the son of the sun kills a child that was made by the sun. The son of the sun got scared of the anger of his father and scattered about the world the pieces of his murdered brother. It tells that his body parts like his teeth grew corn. This would be a story about the creation of corn, why it was there and how. However, document 7 talks of an Ancient Chinese Legend. This talks more about that fact that if you took the weeds you could fertilize the farmer’s crops. With each story tells something to do with farming. How that one, thing is made or how to make their crops better. Document 5, is a diagram of a hunting scene and peasants working in a field in Ancient China. This illustration gave a reason for historians to track the development of tool- and weapon making in organization in agrarian and artisan production as well as the leisure activities of officials and the landed elites. With document 3 talks about Mesoamerican origins. Historians talk about that current archaeological evidence cannot pinpoint a single location where Indian agriculture began or determine precisely why the Indians became agriculturists. They did though have records that suggested that the cultivation and domestication of plants. With the painting and the records gave historians a better view of each hunting scene and peasants working in fields. During the period of 500 C. E – 1000 C. E. ancient civilizations in North and South America and China cultivated and gradually moved from the hunting and gathering lifestyles. These civilizations drifted towards food collection and then farming. With this approach, crops and attitudes toward agriculture varied with culture. With the Native Americans and the Ancient Chinese during 500 C. E – 1000 C. E. have both differences and similarities towards agricultural production. Showing that China was more into the facts then stories like Mesoamerica to explain the reasoning of agricultural in both of China and Native Americans.

Smoking, Gender, Sick Role Essay Example for Free

Smoking, Gender, Sick Role Essay How do you think that smoking and gender is related? Why do you think that men/women smoke even though it is known as a deadly practice? Despite the overrun and almost cliched disclaimer from government reminding the general public that â€Å"cigarette smoking can be dangerous to your health,† a lot of people prefer to think and/or act otherwise. While smoking is considered generally bad or quite frankly, repulsive, and met with disgust by some, it is nonetheless acknowledged in society as something relatively acceptable or tolerated. Its social acceptability lies in different aspects or points of view. Most smokers believe, for instance, that breathing in nicotine and burnt paper helps in times of stress, and that cigarettes help them relax. People smoke to clear their heads and think. People smoke when they feel cold, or tired, or lonely, angry, or to socialize, and so on. Smoking, like drinking, has become an effective outlet by which people socialize and vent, and they do, despite the number of diseases that statistics promise every pack of cigarettes come pre-packaged with. More than being provoked by the said factors, the instance of cigarette smoking has come to relate and define ones gender and sexuality. Smoking is generally accepted among men as something which somehow affirms their masculinity. Cigarette smoking in women is seen as a sign or symbol of sophistication, despite what the opposite may connote. Adolescents for the most part, take a significant proclivity and liking to practices considered bad or unacceptable, and smoking is easily one of them. These concepts and images entrenched in society, as well as the previously enumerated factors relating to its validity or acceptability contributes to the instance that is cigarette smoking; the benefits of which appear to outweigh negative implications, of various illnesses and diseases which may or may not result from its practice. 2. What is sick role? Describe the sick role vis a vis birthing in Turkey. A concept brought about by Talcott Parsons in 1961, a sick role is a behavior that an individual is expected or not expected to perform within his/her obligations to society in the event of an illness or disease which incapacitates him/her from doing so. Parsons concept of the sick role affords a sick person the right to be exempted from normal roles prescribed in society, and the freedom not be held responsible for his or her condition. The sick persons only obligations on the other hand, are to condition themselves into recovering from the said sickness, and to find a competent doctor or physician which would attend to their particular sickness or illnesses. In Turkey, culture and tradition demands that a women who has just given birth is not allowed to leave her house in the extent of forty days from the time shes given birth. She is not to be left alone and is to be attended to within the forty days in which she is confined to her house. The said culture and tradition mirrors Parsons concept of sick role, and exempts a woman who has just gone through child birth the necessary and proper duties and obligations society warrants from her by confining her to the bounds of her own home, requiring that she rests, be nursed back to health, and nothing else. References Dichter Ernest. â€Å"Why Do We Smoke? † http://smokingsides. com/docs/whysmoke. html 10 January 2008. Republic of Turkey, Ministry of Culture and Tourism. â€Å"Culture and Beliefs. † http://www. kultur. gov. tr/ 10 Jan 2008. â€Å"The Sick Role. † http://www. diligio. com/sick_role. htm 10 January 2

Analysis Of BMW Financial Position And Performance Accounting Essay

Analysis Of BMW Financial Position And Performance Accounting Essay This is a financial analysis report on BMW. Specifically, in the first part of this report, the financial position and performance of BMW for the four financial years from 2008 to 2011 will be firstly re-formulated, and the financial ratios for the company will be computed for analysis purposes. In order to perform a throughout financial analysis on the company, the trends of the financial ratios of BMW will be analyzed. Then, the financial statements of Audi will also be reformulated and the respective financial ratios for Audi will also be computed. The financial performance of Audi will be used to compare to the performance of BMW, to gauge the relative performance of BMW, as compared to one of the peer within the industry. Then, in the second part, BMWs forecasted value of equity per share at the end of the fourth financial (i.e., at FY 2011) will also be computed. Recommendations will be provided if the stock is a good investment choice, based on the various findings derived fr om this study. 1.2 Company Background Today, BMW is the worlds best-selling manufacturer of premium cars (Rauwald, 2012). BMW is founded in 1916; and is headquartered in Munich, Germany. Today, the company has more than 96,000 workforces at 24 production facilities in 13 countries and had penetrated to around 140 countries in the world (Avery Bergsteiner, 2011). BMW is also a company emphasizing on corporate social responsibilities (Stamoulakis Bridwell, 2009). Some of the competitors of BMW include Audi and Mercedes-Benz, whereby these companies has also been competing with BMW in important markets such as China (Rauwald Pearson, 2011a). Referring to Table 1 below, the various business segments BMW is operating within is shown. The major revenue contribution of the company comes from selling automobiles, and then followed by car financing activities. Table 1: The Various Business Segments BMW Operating Within Source: Worldscope Table 2 below however shows the various geographical regions BMW is operating within. As shown from the figure, the revenue generated from BMW sales in China is improving fast, while the revenue generated from the United States are stagnating. Indeed, prior to the financial crisis, United States is the biggest market for BMW (Rauwald, 2010). In contrast, as discussed in Muller (2010), BMW growth in recent years had largely driven by the increase of sales from emerging countries. This is a trend worth acknowledging in analyzing the current financial performance and to predict the future probable performance of the firm. Table 2: The Various Geographical Region BMW Operating Within Source: Worldscope Part I: Analysis of BMW Financial Position and Performance In Part I, the financial analysis on BMW will be performed through two major methods, firstly by reviewing the trends of the financial metrics of BMW and its competitor; and secondly, through the review of various financial ratios of BMW and to compare the ratios to the competitors ratios. 2.1 Trend Analysis A Review of BMW Past Performances 2.1.1 Profitability Ratios Based on Table 3 below, the various profitability ratios of BMW are shown. As measured by the Return on Assets, Return on Equity and Return on Invested Capital, BMW performance is generally well-performing in FY2007, but subsequently suffered to a minimal profitability in FY2008 towards FY 2010, before returning to superior profitability situation in FY2011. This is not surprising. In FY2008, the world financial crisis hit, and the automotive industry, which is cyclical in nature, are impacted adversely (Peterson, 2008). Indeed, the entire automotive industry fall into a turmoil as auto sales have plunged in the United State and Europe; while sales faced stagnation in previously booming markets like China and India (Rauwald, 2009b). In 2009, as discussed within Rauwald (2009a), BMW suffered losses due to recession as the sales and demand of luxury cars stalled. This is logical as in recessionary period, people cut down spending and luxury product manufacturers are often the most im pacted as the product demand are highly elastic. Then, qualitatively speaking, in FY 2010, the profitability improvement in BMW is due to improved efficiency significantly in all areas of the company (during the restructuring programme of BMW in the global financial crisis) as well as favourable exchange-rate fluctuations for the company (Rauwald, 2010). Next, Rauwald Schmidt (2012a) had however attributed the significant enhanced of BMW performance due to the companys comprehensive transformation, via cutting jobs and costs since 2007 (which include a cut of more than 8,100 jobs and reduction of more than 6 billion Euros in costs). This is also true as based on the employee per sales figure, the company is showing positive improvement as in recent years, more sales are generated per employee. Aside from that, it is also observed that the ratio of research and development to sales ratios has also been high, approximately around 5%. This is because BMW has been investing in research and development activities for further innovations in the future. For example, one of the recent innovations of BMW is development of eco-super car through the Vision Efficient Dynamics concept (Kable, 2010). Overall, based on the profitability ratios, a gross profit margin of 24% and the Return on Equity ratio of 19.2% in the recent years suggest that BMW is a well performing firm. Nonetheless, the fact that the firm could be seriously affected by recession also suggests that the business is cyclical, and therefore, the business risk faced by the firm and investors could be high. Table 3: Trends of Profitability Ratios of BMW Source: Worldscope 2.1.2 Asset Utilization Ratios Based on Table 4 below, the various asset utilization ratios, such as assets per employee, total assets turnover, inventory turnover and net sales to gross fixed assets are shown. Overall, there is a trend of improvement on these ratios. As discussed in Rauwald Schmidt (2012b), the strong performance of BMW is primarily contributed by the strength of the BMW, MINI and Rolls-Royce brands as well as improvements in efficiency. The improved of efficiencies can be noted as the assets per employees had increased (i.e., fewer employees as compared to the total assets), and the higher total assets and inventory turnover ratios (as the company is more able to generate more sales from every unit of asset). Table 4: Trends of Asset Utilization Ratios of BMW Source: Worldscope 2.1.3 Leverage Ratios Based on Table 5 below, the trends of use of debt financing and capital structure of BMW are shown. Overall, it can be noticed that BMW is a highly geared firm, as the long term debt within the capital structure has been consistently high throughout the past few years, i.e., at approximately 60%. Then, the portion of debt is also far outweigh the portion of equity, and as indicated by the total debt to common equity ratio, the total debt is approximately more than 2 to 3 times the total amount of equity. Overall, this suggests that BMW is heavily leveraged and the firm would face higher finance risks (such as solvency, liquidity and interest payment risks) in hard times. In contrast, the firm would make high return on equity for the shareholders due to use of leverage. Therefore, part of the reasons contributing to the high return on equity for BMW is through the use of high leverage within the firm. Table 5: Trends of Leverage Ratios of BMW Source: Worldscope 2.1.4 Liquidity Ratios Based on Table 6 below, the various liquidity ratios such as quick ratio and current ratio are shown. Overall, the liquidity position of BMW is marginally satisfactory, as the current and quick ratio fall around the range of 1. A more conservative ratio would be a current ratio of more than 2 times. Then, it is also noted that throughout the years, the proportion of receivables in the current assets is the highest, followed by cash, and then inventories. This is however unavoidable, as most of the customers would purchase the luxury cars on credit. Table 6: Trends of Liquidity Ratios of BMW Source: Worldscope 2.1.5 A Review of the Financial Performance Trends of BMW In order to form an overview of the financial performance of BMW in the past few years, the general profitability picture of BMW is presented in Figure 1. As shown below, prior to the crisis, BMW has been in a rising profit position for more than a decade (Avery Bergsteiner, 2011). However, unfortunately, the firm performance is badly affected during the global financial crisis (as discussed previously). During the period of financial crisis, the net income, return on equity and total common equity fall sharply. Nevertheless, upon the crisis, the profitability of BMW surged sharply. Avery Bergsteiner (2011) had found that one of the reasons contribute to fast BMW recovery from the global financial crisis in 2008 is due to sustainable leadership model and processes within the company. Therefore, this suggests the resiliency and the quality of the management within the firm as satisfactory and competent. Then, another trend worth discussing is that in the recent years, BMW car sales have been increasing significantly in the China market (Rauwald, 2012). Indeed, as discussed within Schafer (2011), much of the sales increases of BMW come from the growth of sales from China and India. Such a trend had contributed significantly as even in FY2011 and FY2012, BMW sales in Europe are facing challenges due to sovereign debt crisis (Rauwald Pearson, 2011a). Similarly, as discussed within Schafer (2011), the sales of BMW cars are slow in Europe due to the slow recovery within the region. Figure 1: Net Income, Equity, ROE and ROCI Trends of BMW C:Documents and SettingsHappyGoLuckyDesktopData Collectiondatareturn analysis chart.jpg Source: Worldscope 2.2 Peers Financial Ratios Comparisons In this section, in order to understand the financial position and the performance of BMW in the context of its industry as well as in relation to its peers, the various financial ratios of BMW, the peers and one of its leading competitors, namely Audi will be performed. 2.2.1 Growth Rates related Ratios As shown in Table 7, the various growth rates of BMW is compared to the peers and Audi. Firstly, it is noted that the growth of sales of BMW is slightly worse than the growth of Audi, but significantly worse off than the peers. In other words, both Audi and BMW are performing less satisfactorily as compared to the industry average. Therefore, while the financial picture of BMW is recovering and experiencing sharp upturns in FY2011, the firm is actually down perform as compared to the industry average. Table 7: Trends of Growth Rates of BMW, Audi and Peers Company BMW AG Peer Mean Audi AG Last Fiscal Yr End Date 12/31/2011 12/31/2011 Key 1 Year Growth Rates Sales 1Yr Growth 13.80 22.22 24.42 Operating Income 1Yr Growth 53.21 47.75 57.09 Net Margin 1Yr Growth 32.92 104.88 36.41 Net Income 1Yr Growth 51.26 149.43 69.72 EPS 1Yr Growth 51.12 146.47 69.73 Total Assets 1Yr Growth 11.71 14.54 19.56 Equity 1Yr Growth 13.11 8.58 13.72 Key 5 Year Growth Rates Sales 5Yr Growth 7.03 15.17 7.20 Operating Income 5Yr Growth 16.39 23.44 14.71 Net Margin 5Yr Growth 3.92 7.76 18.21 Net Income 5Yr Growth 11.22 23.09 26.72 EPS 5Yr Growth 11.21 21.35 26.72 Total Assets 5Yr Growth 9.18 12.25 14.00 Equity 5Yr Growth 7.17 9.09 11.83 Source: Thomson One Banker As shown in Table 8, the figures of growth rates of several financial metrics are also computed, from the reformulated financial statements (as shown in Appendix at the end of this document). Overall, it can be observed that both Audi and BMW financial performance move in tandem, whereby the good performance of both company tend to be happen at the similar time. For instance, the growth of sales was negative for both of the firm at FY2009. Then, the growth rates of common shareholder equity also tend to be similar in terms of magnitude. For example, the growth rate of shareholder equity has been slight negative or positive at FY2009. However, the growth rate of operating income (after tax) for both the company tend to be less similar. This could be due to the operational management differences between the two firms. Table 8: Trends of Growth Rates of BMW to Audi Profitability R 2009 2010 2011 Growth Rate in Sales BMW -4.73% 19.33% 13.80% Audi -12.74% 18.77% 24.42% Growth Rate in OI (after tax) BMW 352.36% -20.66% 49.91% Audi -43.17% 128.13% 60.40% Growth Rate in NOA BMW 31.36% 13.02% -10.94% Audi 10.86% 47.64% -4.07% Growth Rate in CSE BMW -1.79% 15.94% 17.18% Audi 2.62% 9.30% 13.72% Source: Computed from Reformulated Financial Statement 2.2.2 Profitability Ratios As shown in Table 9, the profitability related ratios for BMW, peers and Audi are shown. Overall, the profitability margins of BMW would be slightly lesser than that of the Audi (particularly from the net margin perspective), but would be higher than that of the peers. This is because BMW operate within the luxury car segment, and therefore, the margins would be higher, as the majority of other competitors go for the volume for profitability. Therefore, the asset turnover of BMW and Audi is lower significantly than the peers, as the company focus on the luxury niche segment. Aside from that, it could be seen that the RD expense to sales ratio for BMW (and Audi) is higher than that of the peers. For this, one of the successes of BMW comes from investing heavily in extra production capacity and new technology constantly (Rauwald, 2012). Table 9: Profitability Related Ratios for BMW, Peers and Audi Company BMW AG Peer Mean Audi AG Last Fiscal Yr End Date 12/31/2011 12/31/2011 Asset Turnover 0.57 0.85 1.25 Pretax Margin 10.73 13.70 ROA 4.37 13.86 Return on Invest Cap 5.62 34.13 Reinvest Rate 13.25 37.59 35.68 R D to Sales 4.90 3.43 5.09 Gross Profit Margin 24.62 19.45 18.57 Operating Profit Margin 11.42 6.92 9.54 Pretax Margin 10.73 13.70 Net Margin 7.09 9.95 Source: Thomson One Banker Table 10 is about the profitability ratios of BMW and Audi, computed from the reformulated financial statements (as shown in Appendix at the end of this document). Overall, it can be seen that Audi would perform slightly better than BMW, although from the net profit margin perspective, BMW outperform Audi in FY2010 and FY2011. Then, it is also observed that the financial margins of BMW are more volatile as compared to Audi. Therefore, the risks (from the standard deviation perspective) for BMW are higher. Nonetheless, as discussed before, BMW is performing well in terms of cutting down the expense. This can be observed as the portion of administration costs to the sales ratio for BMW has been decreasing from FY2008 towards FY2011; whereby the ratio for Audi had been staying relatively constant (around 8-10%). This reaffirm that BMW had been slowly transform itself into a more efficient organization. Table 10: Trends of Profitability Ratios of BMW to Audi 2008 2009 2010 2011 Operating Profit Margin BMW 0.95% -0.09% 5.71% 8.03% Audi 5.27% 3.43% 6.59% 8.50% Sales Profit Margin BMW 1.95% 9.27% 6.17% 8.12% Audi 5.27% 3.43% 6.59% 8.50% Other Items Profit Margin BMW 0.00% 0.00% 0.00% 0.00% Audi 2.82% 2.86% 2.87% 2.90% Net Profit Margin BMW 1.25% 0.13% 5.23% 7.75% Audi 6.46% 3.52% 3.07% 5.91% Expense Ratio Admin Costs BMW 9.59% 9.91% 7.98% 7.83% Audi 9.47% 10.52% 8.57% 8.16% Expense Ratio Distribution Costs BMW -0.21% 0.10% 0.24% 0.50% Audi 0.88% 1.01% 1.06% 0.97% Operating Profitability (RNOA) BMW N/A 14.55% 9.55% 14.27% Audi N/A 12.48% 21.87% 30.03% Financing Profitability (RNFA) BMW N/A 0.70% 0.98% 1.37% Audi N/A 5.07% 5.54% 9.98% Source: Computed from Reformulated Financial Statement 2.2.3 Asset Utilization ratios Table 11 is about the asset utilization related ratios for BMW, Audi and peers. Overall, BMW down perform both Audi and the peers from asset turnover and inventory turnover perspective. Indeed, Audi perform best in utilizing assets in generating revenue. This shown that BMW may not be effective to the peers and Audi in leveraging on the assets to generate sales, and there are much room for improvement to significantly enhance the asset utilization ratios for the firm. Table 11: Asset Utilization Related Ratios for BMW, Audi and Peers Company BMW AG Peer Mean Audi AG Last Fiscal Yr End Date 12/31/2011 12/31/2011 Asset Turnover 0.57 0.85 1.25 Inventory Turnover 5.11 8.52 8.85 Source: Thomson One Banker 2.2.4 Leverage Ratios Table 12 is about the comparisons of leverage related ratios between BMW, Audi and peers. Obviously from the figure of the industry mean score, it can be noticed that most of the automotive manufacturers are highly geared. Indeed, as it is discussed that BMW is a firm that relied heavily on debt instrument for financing its operations, the industry average figure is even higher. In stark contrast, Audi is a lowly leveraged firm. Indeed, the use of debt is very minor within the firms capital structure. Table 12: Leverage Ratios Related Ratios for BMW, Audi and Peers Company BMW AG Peer Mean Audi AG Last Fiscal Yr End Date 12/31/2011 12/31/2011 Total Debt to Common Equity 245.94% 250.96% 9.39% LT Debt to Common Equity 133.58% 146.61% 0.17% LT Debt to Total Capital 56.96% 41.23% 0.16% Dividend Payout 17.46% 15.80% 0.00% Cash Dividend Coverage Ratio 7.13 21.08 #N/A Source: Thomson One Banker In Table 13 below, trends of leverage ratios of BMW and Audi, computed from the reformulated financial statements (as shown in Appendix at the end of this document) are presented. Similar to the discussions presented above, the financial leverage ratio of BMW is significantly higher than the case of Audi. However, from the operating liability leverage ratio perspective, the figures of the two firms are roughly comparable. Table 13: Trends of Leverage Ratios of BMW to Audi 2008 2009 2010 2011 Financial Leverage Ratio (FLEV) BMW 0.299 0.414 0.413 0.410 Audi 0.256 0.198 -0.128 0.054 Capitalization Ratio BMW 1.378 1.843 1.796 1.365 Audi 0.781 0.844 1.140 0.962 Operating Liability Leverage Ratio (OLLEV) BMW 1.093 0.663 0.645 1.011 Audi 1.479 1.381 1.058 1.268 Source: Computed from Reformulated Financial Statement 2.2.5 Liquidity Ratios In Table 14 below, the liquidity related ratios for BMW, Audi and peers are compared and presented. It is noted that the liquidity position of BMW, as measured from all of these ratios, i.e., quick ratio, current ratio, cash and equivalent to current assets ratio, account receivables days as well as inventories days held are not only down performing the peers, but also perform much badly as compared to the situation of Audi. Indeed, Audi is having strong liquidity position, thereby indicating that the firm is unlikely to suffer from any near term liquidity issues. Audi had also outperformed the peers significantly and based on the findings above that Audi is a lowly geared firm; the firm is financially conservatively managed. Table 14: Liquidity Related Ratios for BMW, Audi and Peers Company BMW AG Peer Mean Audi AG Last Fiscal Yr End Date 12/31/2011 12/31/2011 Quick Ratio 0.82 1.00 1.32 Current Ratio 1.04 1.28 1.60 Cash Equivalent to Current Assets 23.52 32.24 41.13 Accounts Receivable Days 136.25 102.07 61.22 Inventories Days Held 71.44 48.60 41.24 Source: Thomson One Banker 2.2.6 Summary Overall, while BMW is a profitable firm, and the firm is performing very well in FY2011 (i.e., experiencing sharp recovery) such performance can be largely attributed to the industry wide recovery situation around the world. However, the performance of BMW would seem to be lacking, more risky and less efficiently, effectively and conservatively managed when compared to the peers. This is particularly when compared to Audi, as Audi had found to be having much stronger and yet conservative financial position and performance. It can be summarized that BMW performed unsatisfactorily as compared to the other automotive manufacturers. Part II: Valuation In this section, valuation of BMW stock will be performed via the discount cash flow model. In order to compute the company value via this method, the dividend distributed to the investors will be treated as the proxy of the cash flow to the investors. Currently, the latest dividend payment from BMW is EUR 2.30 (Figure 2, the indicated dividend payment from the management). Then, from Figure 3, the growth rate of the dividend yield/ payment (i.e., the growth rate of the cash flow of the firm) range from 0.23% (i.e., 3-years growth rate) to 1.01% (i.e., 3-years growth rate). Theoretically, the longer term growth rate should be used. However, the global financial meltdown in FY2008 to FY2009 would be considered as anomalies (the black swan event), and therefore, it is unfair to take the three year average figure for the firm. Therefore, conservatively, a growth rate of 0.5% would be assumed to represent the growth rate of dividend payment for the investors. Then, in order to compute th e required rate of return for BMW, the risks pertaining to the firm will be considered. As BMW is found to be highly geared, a required rate of return of above 10% would be necessary. Therefore, conservatively speaking, a required rate of return of 15% is justifiable. Hence: D = EUR 2.30 g = 0.5% r = 15% Firm value = D (1+g) (r-g) = 2.3 (1+0.005) (0.15-0.005) = 2.3 (1.005) (0.145) = EUR 15.94 Therefore, a very conservative firm value for BMW from the dividend discount model (i.e., Gordon Growth Model valuation method) is only EUR 15.94. This is even much lower than the analysts target price of EUR 75.60 (Figure 2). Therefore, from the valuation method applied, it is unwise to purchase into BMW stock. Figure 2: Estimates from Analyst C:Documents and SettingsHappyGoLuckyDesktopUK0538 Advanced financial statement analysisData Collectiondatathomson forecast report.jpg Source: Thomson Financial Figure 3: Estimates from Analyst C:Documents and SettingsHappyGoLuckyDesktopUK0538 Advanced financial statement analysisData Collectiondatastock valuation.jpg Source: Thomson Financial In Table 15 below, the price multiple of BMW, peers and Audi is shown. It is shown that BMW stock prices is valued at 10 times earnings multiple, as compared to Audi (which is only 5 times earnings multiple). Indeed, from the other two yardsticks, namely price to book value and price to cash flow ratios, BMW stock is valued more expensively. Then considering that the financial position and performance of BMW is significantly lower than the peers, and particularly, to Audi, the high price multiples of BMW would justify a sell comment on the stock. Table 15: Market Value Related Ratios for BMW, Audi and Peers Company BMW AG Peer Mean Audi AG Last Fiscal Yr End Date 12/31/2011 12/31/2011 Current P/E Ratio 10.17 5.15 Price/Book Ratio 1.84 1.33 1.81 Price/Cash Flow Ratio -11.10 1.94 3.34 Source: Thomson One Banker Then, from the qualitative perspective however, looking forward, competition between automotive manufacturers in China could be intensifying and this could affect how BMW compete with other car manufacturers (Rauwald, 2012). However, some analysts had also been optimistic as they anticipate growth in markets such as China and Russia which would contribute to higher BMW sales in these emerging regions (Rauwald Schmidt, 2012a). Then, as discussed in Reed Schafer (2010), the rise of sales in China is primarily due to the branding and the quality of the cars sold by BMW. Therefore, the growth story of BMW in emerging regions would be in doubts, as the competitors, such as Audi has also strong performance in these emerging regions. Therefore, from a more conservatively perspective, it is reasonable to conclude that even it is expected that BMW could profit from the emerging countries, which would also not justify the high valuation of the stock. Hence, it is not rational to purchase i nto the stock of the company at the current price. In contrast, investors seeking exposure to automotive industry would be better to purchase the stock of Audi, as the firm is financially conservatively and operational effectively managed, and yet, having a low price multiple. References Avery, G. C., Bergsteiner, H. (2011). How BMW successfully practices sustainable leadership principles. Strategy Leadership, 39(6), 11-18. Kable, G. (2010). Bolts from BMW. Autoweek, 60, 12-12. Muller, J. (2010). BMWs push for made-to-order cars. Forbes, 1. Penman, S. H. (2010). Financial Statement Analysis and Security Valuation, 4th Edition. McGraw-Hill Irwin, New York. Peterson, T. (2008). BMW 135i: High performance, low price. Business Week (Online). Rauwald, C. (2009a). Corporate news: BMW posts loss as unit sales fall 21%. Wall Street Journal. Rauwald, C. (2009b). Corporate news: BMW swings to $1.24 billion loss as luxury-car sales plunge. Wall Street Journal. Rauwald, C. (2010). Luxury demand drives BMW results. Wall Street Journal (Online). Rauwald, C. (2012). BMW, Porsche profits rise on higher sales. Wall Street Journal (Online). Rauwald, C., Pearson, D. (2011a). Corporate news: BMW cranks up profit view luxury-auto maker gains on emerging-market demand as European woes damp peugeot-Citroen. Wall Street Journal (Online). Rauwald, C., Pearson, D. (2011b). BMW raises sales, profit forecasts. Wall Street Journal (Online). Rauwald, C., Schmidt, N. (2012a). Managing careers: For BMW, a tough transformation pays off. Wall Street Journal (Online). Rauwald, C., Schmidt, N. (2012b). For BMW, a tough transformation pays off; no grand prix cars, but pole position in luxury market gives CEO reithofer a happy start to the new year. Wall Street Journal (Online). Reed, J., Schafer, D. (2010). Demand for luxury powers BMWs China sales. Financial Times. Schafer, D. (2011). BMW receives sales turbo-charge from China and India. Financial Times. Stamoulakis, D., Bridwell, L. (2009). BMWs approach to global warming and environmental management: Corporate social responsibility or greenwashing? Competition Forum, 7(1), 98-106. Subramanyam K. R., Wild, J. J. (2009). Financial Statement Analysis, 10th Edition. McGraw Hill, New York.

The Effect of One Tribe on an Entire Nation :: history

The Effect of One Tribe on an Entire Nation The Roman Catholic Church is a foundation of medieval European culture. However, certain people also had influential effects. These included Pope Urban II, Walter the Penniless, and Peter the Hermit. Everyone in Europe belonged to the Roman Catholic Church except Arabs, Jews, and the people of the Byzantine Empire. The position of Pope had great responsibility. The Pope had more power and wealth than any king or noble. However, most of the power of the church came from the excommunication. Anyone who had committed an offense against the church was expelled from it. Also, Christians were forbidden contact with anyone excommunicated, even if they were family. One show of the vast power held by the church involved King Henry IV. Pope Gregory VII excommunicated him in 1076 C.E. King Henry IV was forced to beg for absolution and was eventually forgiven by Pope Gregory VII because he was bound by his position to resolve him. However, if an excommunicated noble remained defiant, he was forbidden to receive the Sacraments as well as the normal procedures. This law kept the nobility in line. The church also had the power to extend sanctuary to anyone accused of an evil offense. Sanctuary was a place of protection. If a man was being sought after for a crime, one option was for him to enter the church, confess his sins, and be resolved. His seekers had no power over him while he was residing there. The church also provided an education for most people. The language of the teachings was Latin. Since the church was so large, the task of maintenance was great. Men and women who retreated from worldly distractions were called monks and nuns. Nuns held residence in nunneries; while, monks lived in monasteries. Monks followed the Rule of Benedict. This devoted them to certain work and prayer. Their work was significant though because Romans and Barbarians of the time considered work to be for slaves and below the level of even commoners. Their main duties were teaching and farming. Since the Catholic religion was such a significant part of every day life, people commonly journeyed to shrines on â€Å"pilgrimages†. Their journey was hard and was often considered a means of penance for sins. The peasants who could not afford a horse on which to journey had to travel by foot—only assisted by a staff.

Expatriation, Exile, Immigration, Repatriation :: Expository Essays

Expatriation, Exile, Immigration, Repatriation Expatriation. Exile. Immigration. Repatriation. These words seem so similar but have such different places in society. Whatever the reason for leaving one’s homeland, the way one lives in that place determines where he will fit into society. It is in this searching for a niche that clichà ©s often form and groups of people become stereotyped. From once small groups, a larger more defined population has grown in which all are intertwined creating what one may call diversity or the beginning of chaos. Although expatriation, exile, immigration, and repatriation all deal with the basis of leaving one’s homeland, the decisions each individual makes when embarking on his new life divides these four words into separate diverse categories. The act of expatriation abundantly differs from the act of repatriation. In expatriation the individual leaves his country in the hope of leaving all previous customs and traditions aside and taking on the new society’s entire lifestyle. Whatever the reason may be for this change, the individual functions completely free from his previous homeland. A person in exile may leave for a variety of reasons ranging from the banishment from one’s country to the sudden escaping from the same country. At times often pursuing glamorous lifestyles unattainable in his own country, the whereabouts of this individual may often be kept hushed. Although the person in exile may be welcomed by his new country, he may be carrying along suffering from his native land. Immigration is soon becoming a thing of the past. At a time when herds of civilized people often from one culture came in flocks to new homelands, small little communities formed keeping the strict customs of that foreign culture while establishing a new life. With areas known as Little Italy and the North End, these people grew together and began to adapt to the new culture. Stemming from these communities, an abundance of culture driven places are arising. Repatriation is the reclaiming of previously owned land. The culture taking control of the land, is in actuality regaining their land. At one point in history that society occupied the land such as part of present day California was once Mexico.

Cold War :: essays research papers

Cold War My first inclination would be to answer the first question with a clear "YES". But come to think of it, the causes of war really have not changed at all, or at least very little. Rather than changes, there has been a shift in the causes. The cause of war which has dominated the last 50 years was the cause of ideology. However, due to the recent end of the Cold War, this cause of war, has significantly declined and is almost trivial. The causes of war have shifted from mainly ideological ones to economic, ethnic and others. Although these reasons have always played a role as causes of war throughout history, they were in the last 50 years overshadowed by the cause of ideology. Now, with ideology not on top of the agenda anymore, these causes have regained their importance. After the second World War the world was dominated by two superpowers; the USA and the USSR. The Cold War was a result of this division of power and of the important policy of spheres of influence. In the post WWII-era the Americans thought that the Russians were aiming to incorporate Western Europe (the US & British sphere of influence) into their sphere of influence (Eastern Europe) by supporting the communists in these countries. Their fears were enforced when a "coup substituted communist for coalition rule in Prague." (Calvocoressi, p.15)(even though this is an Eastern European Country, the fact that a coup was staged against a democratic government is reason enough to raise their fears). In this ideologically hostile environment the Cold War began. It was characterised by the arms race between the two superpowers who were eager to preserve their spheres of influence. Both developed such powerful weapons which were too dangerous to be used in practice, but which contributed to the feeling of security, because they acted as deterrent. (These weapons could be used "politically"[as deterrent] but not "militarily"[since they would bring complete annihilation].) "Each side armed itself to win a war which it expected the other to begin but for which it had no stomach and no plans." (Calvocoressi p.4) Europe was a very stable area in the post-WWII era. All the conflicts between the superpowers, were never directly between US and Soviet troops, but in these conflicts one superpower supported one side and the other one the other side. These were staged in the Middle-East, Africa, and Asia.

Movies Represent Storytelling at Its Best Essay

Imagery, sounds, storytelling ability, excellent editing, serious acting and creative imaginations are all technically combined to make a good movie. Movies represent storytelling at its best. The writer gives a script to the director who interprets it and creates a core team of professionals that includes the cinematographer, the designer (and his team), the sound engineer, the actors, and the editor. They make ï ¬ lms to entertain, to express emotion, tell stories, deliver messages, to dream, to imagine, and it is all because they have a passion that drives them. Filmmaking takes time, patience, dedication, commitment, and an understanding of the process in its totality. If ï ¬ lmmakers are oriented toward story and performance, they must learn to visualize the narrative. The story must unfold in the mind’s eye, as it is conceived and created. The ï ¬ lmmaker has to see the movie while the screenplay is being written and during pre-production before the cameras roll. (LoBrutto 2002) Matthew Vaughn created a make-believe movie which insinuates that mutants are everyday people that exist among us; and there were times during the movie that the thought actually crossed my mind. Owing to the fact that, making a film is a most complex artistic enterprise and that, movie making is the only creative endeavor that encompasses all of the arts: writing, photography, painting, acting, music, dance, and architecture; the filmmaker must take on the challenge of telling a story via image and sound each time a movie is made. (LoBrutto 2002) Storytelling A movie is a story; it is as simple as that. Movies are really a category of art that use various kinds of technical combinations of imagery and sounds to tell stories. However, how the story is told, often make fictions seem real, non-fictions become personal, fantasy appear realistic and musicals, like Burlesque, http://youtu.be/9snF_LsF-OI expand into song and dance. There is always something that viewers can relate to in movies. Nevertheless, â€Å"Movies are not, and are not meant to be, blueprints for how to live our lives. They are, however, reflections of lives.† (Goodykoontz, & Jacobs 2011) The story, X-Men: First Class, is about former closeted mutants coming out and embracing their difference. However, the film began with a setting during the period of the holocaust when Magneto was a young boy in Poland. The boy’s name was Erik Lehnsherr (later named Magneto). The story highlights aspects of the enslavement of Jews by the German Gustapo. The close-up shots of the numbers that were branded on the arms of the Jewish people in the concentration camp align the story with an actual historical event. Those shots coupled with the boy’s forceful separation from his mother help to authenticate and solidify the director’s attempt at reality. His anger and fury at the separation triggered his mutant power of magnetism that caused him to rip the metal fence that stood between himself and his mother. The Gustapo commander’s name was Schmidt (later Sebastian Shaw). It was he who shot and killed Erik’s mother in cold blood, before the child; resulting in Erik’s mutant power of magnetism being triggered and magnified during his subsequent angry outburst. Sebastian Shaw murdered the boy’s mother because he wanted to see a demonstration of the boyâ€⠄¢s mutant powers. Mission accomplished, Shaw wanted to train and harness Erik’s mutant power to use it as a weapon. On the other hand, Charles Xavier was a brilliant academic who is of gentry stock. As we saw it when he was a boy, he had the power of telepathy. He also had the ability to read and control other people’s minds. In the beginning of the film, Charles was quite blatant and unapologetic about reading people’s minds without their permission as was the case when he was talking the woman at the bar, before Raven interrupted. He became a CIA consultant on humans with mutant abilities then later he and Erik (who became his close friend) recruited, trained and formed X-Men: First Class a department within the CIA. Both men, Charles and Erik formed a league of mutants to fight against the plans of the evil Sebastian Shaw. There were also minor storylines about interpersonal relationships and the mutants’ personal insecurities as it related to personal acceptance. Overal l the storyline of a Jew’s revenge against his former Gustapo torturers was good; revenge in this case was sweet. Acting Actors are the most visible elements in a film. The actors †¦. In X-Men: First Class There was wild card and character actors but there were no star actors (except for Hugh Jackman’s one clip appearance when he used the f word). The acting was mediocre because at times it did not come across as being natural. It appeared to be acting, more the type for a stage production than for the cinema. However, if I should compare the two main characters; Michael Fassbender did a good job of portraying Erik’s anger, loss and hurt that he suffered growing up in a concentration camp. McAvoy in Charles’ character on the other hand, did not have much negative experience to work with and his character came across as Erik’s boring telepathic side-kick. Kevin Bacon did justice to Sebastian Shaw’s character. With the exception of Raven, the other actors were not really given much screen time. There were many actors but not much solid acting, although there was a lot of action. Cinematography The director of cinematography’s job is to take the director’s view of how the movie should look and help the director to get the shots that he wants with ideas on camera angles, types of cameras, and lighting suggestions that will best serve the director in getting the type of feel he wants out of each scene in the movie. (Goodykoontz, & Jacobs 2011). The cinematographer is specifically responsible for its look, in very specific, shot-by-shot terms. He or she is responsible for the images that the camera sees, and by extension the images that the audience will see in the finished film. . Cinematography means â€Å"writing with movement.† (Goodykoontz, & Jacobs 2011). http://www.youtube.com/watch?v=IAbhclxSNTw The cinematographer demonstrated knowledge based brilliance and skillful use of all type of shots in this clip. He coupled it with the bright natural sunshine made the finale to this clip quite moving. The words â€Å"Never Again† were delivered in a deep focus close up shot of Magneto. The cinematographer used long, medium and close-up shots as well as deep focus. His variety of shots and choice of lightings made this film very entertaining. Editing â€Å"The film editor helps create the film, literally constructing it, piecing together different takes of individual scenes and then placing the selected scenes in the order that tells the story the director wants to tell. The editor’s role is crucial to the making of a successful film. Poor editing does the audience the ultimate disservice when it comes to film.† (Goodykoontz, 2009). The scenes were fast paced, action packed, story driven to the point where there was nothing noticeably wrong or out of place with the editing. It was done in an incongruous style and that added to the overall excitement. The fast movements created the desire to watch this film again and again. The editing was clean. There were no visible or audible hitches. The story flowed and it was quite riveting and entertaining because it reflected real life human struggles for acceptance. Sound â€Å"Music has been a crucial part of the movie going experience since before the advent of recorded sound in films. So important was its use that over time directors began inserting musical cues, or signals, for specific music to be played at specific times.† (Goodykoontz, & Jacobs 2011) I particularly favored the scene that brought Xavier and Erik together; it contained a variety of magnificent sounds. When Erik was in the sea and there was also a bevy of boats and ships around him; there were sounds of boat horns; there were natural sounds of water splashing against the sides of the ships and the ripping sounds of the speed boats dividing the water. During the destruction of Shaw’s ship, there were credible sound effects of the unreeling of the massive chain on the anchor; the crashing banging sounds and the explosive sounds. The complimentary sound of background orchestra music playing that loaded repeated andante beat (da-dap da-dap da-dap) that suggests action and then there was the dialogue. Overall, the music and sounds were seamlessly interwoven into each scene to further engage the audience’s attention. Added to that, amidst all the other sounds, the dialogue was clear and audible. The overall sound for this movie was good. Style and Directing A film director is the creative force behind a movie. He is the one who is responsible for the end product that the viewing public pays to see at the movie theatre. His word is final on the visuals, the sounds and the acting. According to Vincent LoBrutto in his book, The Filmmaker’s Guide to Production Design; â€Å"A good director must have a ï ¬ rm idea of how to translate the script cinematically.† (LoBrutto 2002) LoBrutto went on further to say that, directors read the script for an overall impression and impact. It does not matter who the scriptwriter(s) is/are, it is the director’s interpretation, shots and takes that viewers see at the movie theatres. The buck stops at the film director. (LoBrutto 2002) Director Matthew Vaughn has his own fast-paced action-packed style of directing. http://www.imdb.com/name/nm0891216/ He tried to make comic book characters seem real by fusing natural historic events like the holocaust (Erik was in the concentration camp during the Holocaust where his mom was killed) and the Cuban missile crisis into the plot. Vaughn created elaborate props and set designs and he used every computer graphics skill to enhance the story. X-Men: First Class doesn’t just rely on the usual fast paced scenes and top notch special effects that are typical of action movies; it raises the bar several notches. It doesn’t lose its sentimental core amidst the explosions and super feats but it continues to provide viewers a complex storyline to follow. This is Vaughn’s â€Å"Kick Ass† style. There is humor as in the training sessions when Banshee, after receiving clear instructions and encouragement; fell straight to ground without even attempting to try. There was much laughter at his expense. Humor is Vaughn style; as his previous work â€Å"Kick Ass† showed; that coupled with the elaborate props and high tech sound effects; complete his signature on the project. The director Matthew Vaughn placed his stamp on this movie through the production design, the acting, the dialogue, the cinematography and especially the sounds. http://www.imdb.com/name/nm0891216/ Impact of society on the film and vice versa Whether it is in appearance, fashion, or behavior, films romanticize a certain lifestyle that is eagerly imitated by audiences. Fashion magazines promise that we can â€Å"Get Angelina’s Look† if we follow the tips inside. Celebrity gossip publications keep readers up-to-date on the comings and goings of seemingly everyone who has appeared in a movie. The Internet and social media are practically choked with chatter about film— box-office results, reviews, gossip, and more. Beyond such obviously shallower aspects, film can influence how we live, our morality, and our behavior. (Goodykoontz, & Jacobs 2011) â€Å"Film can influence how we live, our morality, and our behavior.† (Goodykoontz, & Jacobs 2011) Filmmakers will argue that, this effect is unintentional because movies are a part of a make believe world but there are those who pattern what they see, and make it their reality. An example of society’s impact on film is portrayed in the indelible affect that the holocaust had on Erik; he was soaked with hatred and revenge for the former Gustapos who imprisoned him, especially Sebastian Shaw. This is a portrayal of the agony that the Jewish people suffered at the hands of the Germans. That intrinsic hatred became the fuel for his mutant powers. The others had to hide their difference from normal society, for fear of rejection but above all the fear of unknown reaction to them. Likewise, the film is highlighting the fact that some people among us who are different from us, want acceptance and they also want to feel a sense of belonging just like normal people. Their differences are as varied as the characters in the film and their needs are as similar. It is sending a message of acceptance, brotherhood and unity. Genre â€Å"A genre is so called because it tends to use familiar story formulas, character types, settings, and iconography (visual imagery with symbolic implications), all of which lead viewers to have certain expectations about what the movie will be like before actually watching it. .† (Goodykoontz, & Jacobs 2011) It is a type, or category of films that is usually easily recognizable as part of a certain genre. Genres tell the audience up front what to expect from the product they are buying. If they like a particular kind of story, chances are they will like this particular film, especially if the writer and director give the expectations a little twist. X-Men: First Class is an action-fantasy. It is loaded with action but it is also loaded with some fantastic comic book feats. At the start of the film, the MARVEL logo is shown; that is an indicator that it is a comic book story. The ability for humans to alter and mutate into other beings, is genre specific activities for fantasy. While the fast-paced actions during the confrontations/battles with good and evil are typical of action films. Therefore, it is difficult to place the film within any one genre because it can fit into several: drama (Erik’s beginning and the dramatic separation from his mother); fantasy (Erik’s control of the missiles in mid-air); action (the air and sea confrontation). Application of at least one approach to analysis and Interpretation Films are often used to express emotion, deliver a message, to dream and to imagine; all having to do with human psychology. A psychological approach to analyzing a film is especially concerned with how a film provides examples of various psychological theories and concepts, particularly those of Sigmund Freud and Carl Jung (e.g., sexual symbolism, subconscious repression and dreams, the id, ego, and superego, the collective unconscious). Identity crisis was an issue in the film. Psychologist Erik Erikson’s psychosocial theory of human growth and development at the fifth stage looks at Identity versus Identity confusion. This was played out so well by Raven. It states that adolescents must be allowed to explore different roles in a healthy manner in order to achieve a positive identity; or else they will experience identity confusion. (Santrock, 1989) Raven obviously received no previous parental guidance regarding self-acceptance and role explorations; she hid behind a morphed socially accepted form. She was more comfortable being someone else and she often abandoned her true identity. Accept Yourself: http://www.youtube.com/watch?v=Csii_f5f204 â€Å"You want society to accept you, but you can’t even accept yourself,† said Magneto to Raven. Raven had a serious problem of identity confusion and she struggled with self-acceptance. In the above clip Erik challenged her to accept herself in her true blue form. The movie embraced people who were physically different, while at the same time it was highlighting their struggles to gain social acceptance and their deep-down desire to be normal. This point was introduced as early as the meeting with Charles and Raven. http://www.youtube.com/watch?v=UEKxXYrb2Rk The insecurities about their difference continued to play out in the dialogue between Raven and Charles as well as Raven and Hank. http://youtu.be/PKnL_MwwU3o Charles Xavier, who like Erik, had no visible disability, seemed to have had a more rational approach to life in general. He was more in control of his behavior and his decisions than Erik. According to Psychiatrist Sigmund Freud, the ego makes rational decisions (Santrock, 1989 p. 34). An example of this was the scene where Charles was in his kitchen and Raven (who he looked upon as a sister) entered in her unclothed blue form, in a sensual rather sexual manner. Charles’ ego quickly assessed the situation and decided that it was wrong and he chided her with disgust in his voice. His conscious ego made a decision. Similarly, psychologist Albert Bandura’s social learning theory speaks to conforming to social behavior within the one’s environment (Witt & Mossler, 2010). Charles Xavier knew that society, especially the upper class to which he belonged, would definitely not accept Raven in her true form. His socialization caused him not to even consider having a relationship with a blue woman; blue blooded one, perhaps. Overall textual themes There are five categories that make up the theme of every film: the plot, the emotional mood, the character, style or texture, and ideas. (Goodykoontz, & Jacobs 2011) There were several themes in this film. †¢Self-Acceptance: The lack of social acceptance motivated the mutants to bond together as a brotherhood; and help each other to gain control of their super power as well as provide them with a safe non-judgmental environment. †¢Brotherhood and Unity: They watch out for and watch over each other; they literally function like a family with Erik and Charles as the parents. At Charles castle during the training days. †¢Inter-Personal Relationships: Charles and Erik seem to have a deep seated tenderness for each other as was seen in those close up shots when Charles was shot in his back. Erik held him in his arms and the moment captured a deep relationship. †¢Revenge: Erik hunted and killed all his torturers. Sebastian Shaw’s killing was the final reveng e and the sweetest. Conclusion Imagery, sounds, storytelling ability, excellent editing, serious acting and creative imaginations are all technically combined to make a good movie. Movies represent storytelling at its best. The writer gives a script to the director who interprets it and creates a core team of professionals that includes the cinematographer, the designer (and his team), the sound engineer, the actors, and the editor. They make ï ¬ lms to entertain, to express emotion, tell stories, deliver messages, to dream, to imagine, and it is all because they have a passion that drives them. Filmmaking takes time, patience, dedication, commitment, and an understanding of the process in its totality. If ï ¬ lmmakers are oriented toward story and performance, they must learn to visualize the narrative. The story must unfold in the mind’s eye, as it is conceived and created. The ï ¬ lmmaker has to see the movie while the screenplay is being written and during pre-production before the cameras roll. (LoBrutto 2002) The film was good, exciting, colorful, action packed and almost believable. However, due to its suggested sexual contents and the one time use of the f word, I cannot recommend it for the family. Twaitney O. Reference Goodykoontz, B., & Jacobs, C. P. (2011). Film: From Watching to Seeing. San Diego, CA: Bridgepoint Education, Inc. LoBrutto, V. (2002) The Filmmaker’s Guide to Production Design New York, NY: Allworth Press Santrock, J. W. (1995). Life-Span Development. Dubuque, IA: Brown & Benchmark Witt, G. A., & Mossler, R. A. (2010). Adult Development & Life Assessment. 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