Cost Control and Budgeting in Millennium Seoul Hilton Case Study

Cost Control and Budgeting in Millennium Seoul Hilton - Case Study Example Among these, power or electricity was found to be a major cost contributor. Further analyses revealed that there possibilities the use of electricity can be cut to an optimum level. Reduction of the consumption of power in the hotel would sufficiently reduce operational cost and thereby increase revenue. Based on the problem identified, it is proposed that a power cost saving plan will be developed and implemented. The first step is energy audit which would identify the trend and practices in electrical consumption in all section of the hotel and equate them to the volume of users. Once the information is at hand, areas where reduction can be implemented will be identified. Automated systems will be used instead of manual operations. Electronic devices that detect the optimum level of power needed in a particular area must be installed. For instance, a sensor automatically shuts off a light when there are no more users, etc. The solution will be implemented in few selected area to test the effectiveness. The data prior to implementation and during implementation will be recorded for validation purposes. The affectivity of the systems installed will be evaluated after six months of operation by comparing the consumption rate before and after using the systems. Consumption index will be obtained by dividing power consumption against total persons (consumers and employees). A lower consumption index would mean positive result. If the system is found to be efficient it will be replicated throughout the entire hotel systems.. Table of Contents POWER CONSUMPTION TREND AS POTENTIAL REVENUE ENHANCER FOR MILLENNIUM SEOUL HILTON 1 Management Summary 1 Table of Contents 3 Introduction 4 Findings 5 Analysis/Discussion 6 Recommendations 7 Conclusion 8 Bibliography/References 9 Hilton Hospitality, Inc. 2007. Millennium Seoul Hilton hotel. [Online]. Available: http://www1.hilton.com/en_US/hi/hotel/SELHITW-Millennium-Seoul-Hilton-hotel/index.do (19 October 2007) 9 Review Procedure 10 Introduction The Millennium Seoul Hilton is a Five Star Hotel situated at the foot of Mount Namsan and 1.5 miles from the business district of Seoul City, South Korea. The hotel can be considered a complete facility for business and leisure. For business purposes it has an Executive Lounge, a business center, and 8 meeting rooms that can accommodate 500 persons. It also has high-speed Internet access. Its support amenities for leisure and relaxation include 7 restaurants and bars catering Italian, French, Chinese, and Japanese foods aside from its native Korean specialties. It also has a health club, a golf driving range, a shopping area, a sauna, 82-foot swimming pool, and a well-equipped gym. Millennium Seoul Hilton hotel caters to individuals and families seeking for relaxation and leisure. But its services primarily is aimed on executives seeking for a place to do their business and other functions, meetings, conferences, seminars, and the likes. To suit the needs of the family they have babysitting services, children's video rental, cribs, high chairs, and family package offers. For the convenience of the business costumers they have audio-visual equipment rental, communication facility rental, office space rental, photo copying service, printer, secretarial service, and video conferencing service. The hotel offers several packages for tourists and family trips. The bulk however

Haitian revolution Essay Example | Topics and Well Written Essays - 250 words

Haitian revolution - Essay Example This meant more slave labor among the Africans who made up the majority of the population. Later, in 1971, the mixed-race group planned a huge revolution demanding for their civil rights, whereas, the whites divided into royalists building tension between these groups. The violent revolution was aimed at achieving racial equality, slavery end, and nation’s independence. I agree with the fact that the Haitian revolution was far more revolutionary than the American because despite horrible human, financial and social expenditures, the Haitian revolution was successful in instilling the concepts of democracy and equality far beyond the levels achieved by the American Revolution. In addition, the Haitians were focused in eliminating slavery as one of their political objectives. This was achieved because it later became an independent country with same racial rights and no slavery, whereas, the United States of America only had a representative administration, where only the minori ty male population were allowed to vote and slavery was still practiced. Although the Haitian economy, social and political status faced destruction, it finally achieved its political

Capital and Corporal Punishment: Argumentative Essay

Capital and Corporal Punishment: Argumentative Essay What is meant by capital punishment? Capital punishment, or the death penalty, is the killing of a person by judicial process as a punishment for an offence. Britain has used the death penalty since its early history. Over 200 crimes could be punished by death within the 18th century, these consist of such trivial offences like stealing an item in a shop which was worth more than 5 Shillings, sending threatening letters and even cutting down a tree. In the 1820s this list off offences which could lead to death penalty was repealed due to a growing humanitarian movement against capital punishment and the views of the public which disagreed with this form of punishment. Also juries became more unable to convict defendants of relatively small offences if the offence meant they had to receive the death penalty as they felt too guilty to take the life of another person. This happened more and more even if all evidence pointed to the defendant of the crime to be guilty In 1861 parliament passed The offences against the persons act 1861 which established that murder could be the only offence in which a death penalty could be applied to during peace time. The only acception to this rule was if the defendant was to ask the Home Secretary to apply mercy, otherwise this sentence was mandatory to anyone convicted by a jury of murder. 1868 saw the abolishment of hangings being a public spectacle and from then onwards hangings and such kinds of capital punishment would exist only behind the walls of prison grounds. However it is argued by Henry Fielding that although this action was to make the death penalty a more civilised procedure, the sense of horror and fear within the public was increased as the way in which capital punishment was now administered was now more a secret and private affair. The start of the 20th century saw the birth of a new political force the Labour Party. The Labour party amongst its members felt negatively towards capital punishment and in January the party published a manifesto on capital punishment. The abolition of the death penalty was strongly supported and 27 important labour politicians signed this manifesto. However once the Labour party was elected into power they were unable to enact principles in which they had demonstrated and they seemed aspirational. In 1930 a select committee report suggested that a 5 year experimental period should be used to suspend the death penalty however the idea was unachieved. The House of Commons passed a bill in 1948 which included an amendment to abolish capital punishment. This cause much outrage and shock amongst the public and the House of Lord defeated the idea and the 1948 Criminal Justice Act was passed without the significant section included. The Royal Commission was set up in 1949 to help appease the publics opinion and help investigate circumstances when a murder might not attract a death penalty. It was stated that a murder which was unpremeditated or murder which was committed by the mentally unstable should remain outside of the administration of the death penalty. It was only later that diminished responsibility was recognised as a defence to murder. A defendant of murder which could be shown or proved to be insane as per the legal guidelines of the Mcnaghten rules could however escape execution. Derek Bentley a man with the mental age of a child was accomplice to a murder and was hanged in 1952 however his co defendant Christopher Craig escaped hanging. A petition for mercy was signed by over 200 MPs as well as much of the general public however Sir David Maxwell Fyfe the home secretary at the time was unconvinced and Bentley was hanged in 1953. The Gowers Commission of 1953 reported that the reform of the law of murder should include the abolition of capital punishment however the Government paid no attention to this advice. Ruth Ellis was hanged in 1955 in Holloway prison for the murder of her past lover. It appeared that murder had occurred though the state of passionate jealousy in which she was deeply disturbed by. As a result her case attracted much public attention, debate and publicity and hangings were suspended for two years. A Labour MP Sydney Silverman organised a national campaign against hanging which created huge debate amongst the media and parliament. In 1956 Britains most senior hangman Albert Pierpoint resigned as a result of personal conscience. A bill was then again created to abolish hanging however was thrown out by the Lord when passed through the house of commons. In 1957 the Homicide Act was passed in which introduced three partial defences to murder. These consisted of: provocation, diminished responsibility and suicide pacts. These three defences offered an alternative verdict of voluntary manslaughter in which a jury could apply if they were persuaded by the defences appropriateness to the case in which they were involved. This then enabled the judge to sentence at his discretion and thus avoid imposing the mandatory death penalty for murder. There was 87 hangings between 1950 and 1956 however in the following 8 years past 1957 there were only 29, and to this end there has been no noticeable rise in the rates of homicide. In 1964 a new Labour government was elected and those who were in favour of the abolition where encouraged to renew their beliefs and hopes through campaigns. A private members bill was introduced by Sydney Silver man which gained much support and was passed by the Commons and Lords with approximately two thirds in majority of both houses. After gaining the royal assent the Murder (abolition of the death penalty) Act 1965 was passed. The act included a pacifying clause to its opponents that the act would expire in 5 years unless parliament voted to retain it, however it seemed that the country was now at ease with the act and in 1969 James Callaghan moved a motion through parliament to remove the clause and thus retain the act. It has been argued for many years whether capital punishment should remain abolished or should be reinstated, here are some arguments for and against capital punishment: Arguments for capital punishment: Incapacitation of the criminal: Capital punishment permanently removes the worst criminals from society and should prove much safer for the rest of us than long term or permanent incarceration. It is self evident that dead criminals cannot commit any further crimes, either within prison or after escaping or after being released from it. Cost: Money is not of an infinite supply and the UK could be better off if the government spent our (limited) resources on the old, the young and the sick etc rather than spend our money on the long term imprisonment of murderers, rapists, etc. Retribution: Execution is a very real punishment and possibly the worst punishment which can be administered to an individual. Forms of rehabilitative treatment criminals are made to suffer in proportion to offences in which they may have committed seem merely uncompensational. Although whether there is a place in a modern society for the old fashioned principal of an eye for an eye is a matter of personal opinion. Retribution is seen by many as an acceptable reason for the death penalty according to my survey results. Deterrence: Does capital punishment deter individuals from committing crime. This is a hard matter to prove because in most countries the number of people actually executed per year in comparison to those sentenced to death is usually a very small proportion. However it does seem that in those countries (e.g. Singapore) which almost always carry out death sentences, there is far less serious crime. This leads us to believe that the death penalty does deter criminals from committing crime but only where execution is a virtual certainty. The death penalty is much more likely to be a deterrent when the crime in which a criminal executes requires planning and the potential criminal has time to think about the possible consequences. If the crime is committed in the heat of the moment there is no way that any punishment will act as a deterrent. Arguments against capital punishment: The main weakness with capital punishment is that there is no absolute certainty that people have committed the crime which they have been convicted for and genuinely innocent people can be executed to which there is no way of compensating them for a mistake of a sentence like this. Also a person convicted of murder may have actually killed a victim and may even admit having done so but does not agree that the killing was murder and may believe that it was of no fault of their own or an accident, for example a car crash could be seen as a murder. Often the only people who know what really happened are the accused and the deceased. It then comes down to the skill of the prosecution and defence lawyers as to whether there will be a conviction for murder or for manslaughter. Therefore it is probable that people are convicted of murder when they should really have only been convicted of manslaughter. For example the cases of James McNicol and Edith Thompson. A second weakness is the hell the innocent family and friends of criminals must also go through in the time leading up to and during the execution. It is often very difficult for people to come to terms with the fact that their loved one could be guilty of a serious crime and no doubt even more difficult to come to terms with their death in this form. It is un ethical to deny the suffering of the victims family in a murder case. In America, a prisoner can be on death row for many years awaiting the outcome of numerous appeals, some of which are fatuous and filed at the last minute in order to obtain a stay of execution. This can cause the families and friends of the defendants much unwanted and unneeded stress and pain which is unfairly administered. Another main weakness against the death penalty is that it needs to be remembered that criminals are real people too who have life and with it the capacity to feel pain, fear and the loss of their loved ones, and all the other emotions that everyone is capable of feeling. It easy to have the view of an eye for an eye when faced with a 70 year old murdering rapist but harder when considering criminals such as an 18 year old girl convicted of drug trafficking. In Singapore two girls where hung for this crime in 1995 who were both only 18 at the time of their offences and In China an 18 year old girl was shot for the same offence in 1998. There is no such thing as a humane method of putting a person to death. Every form of execution causes the prisoner suffering, some methods perhaps cause less than others, but there is no doubt that being executed would be a terrifying ordeal for anyone. The mental suffering that the criminal suffers in the time leading up to the execution is also overlooked. It can also be argued that the abolition of the death penalty has had an effect on the laws within the UK and the rate if criminality. What are these changes and how has the crime rate been effected? According to the Home Office Report (Murder 1957-1968) the murder rate in England and Wales steadily increased after the passing of the 1957 Act and further accelerated after suspension (effective abolition) of capital punishment in 1965. The graph below which was produced from that report, shows the rates for murders that would have been classed as capital and non capital under the 1957 Act. It continued to increase and in the 21st century has reached over 900 a year by 2004. It is clear to see that after the abolishment of the death penalty within the UK the rate of murder crimes after 1957 has steadily rose. The argument here is clear, does the death penalty reduce crime, although the graph above would suggest so in comparison to countries such as America which still possess capital punishment the rates of crime are not so different. In the United States, homicide rates are higher in states and regions with the death penalty than in those without it. However the rates for unlawful killings in Britain have more than doubled since abolition of capital punishment in 1964. Home Office figures show around unlawful killings 300 in 1964, which rose to 565 in 1994 and 833 in 2004. The figure for homicides in 2007 was 734. The principal causes of homicide are fights which involve fists and feet, stabbing and cutting by glass or a broken bottle, shooting and strangling. Convictions for the actual crime of murder (as against manslaughter and other unlawful killings) have also been rising incredibly. Figures released in 2009 show that since 1997, 65 prisoners who were released after serving life were convicted of a further crime. These included two murders, one suspected murder, one attempted murder, three rapes and two instances of grievous bodily harm. The same document also noted that 304 people given life sentences since January 1997 served less than 10 years of them, actually in prison. And Statistics were kept for the 5 years that capi tal punishment was suspended in Britain (1965-1969) and these showed a 125% rise in murders that would have attracted a death sentence. To conclude the abolition of the death penalty has had a huge effect on the rates of crime within the UK, as is clearly shown within the figures above. With no other form of punishment existing that has the same effect the death penalty had on criminals and individuals deterring them away from crime, there is nothing to indicate a reduction in the rates of crime within the UK. Corporal Punishment: Corporal punishment is a type of physical punishment that involves the infliction of pain as retribution for an offence, or for the purpose of disciplining or reforming a individual who has committed an offence. It is also used to deter attitudes or behaviour deemed unacceptable. In Medieval Europe, corporal punishment was encouraged by the attitudes of the medieval church towards the human body which was a common means of discipline. This had an influence on the use of corporal punishment in schools, as educational establishments were closely attached to the church during this period. However corporal punishment was not used uncritically, it has been recorded as early as the eleventh century that Saint Anselm, Archbishop of Canterbury was speaking out against what he saw as the excessive use of corporal punishment in the treatment of children. Physical punishment has been a common punishment since ancient times. It is believed Jesus was beat before he was crucified. In England from the Middle Ages until the early 19th century whipping was a common punishment for minor crimes. In the 18th century whipping or being physically beat was a common punishment in the British army and navy. However it was abolished in 1881. In the Middle Ages discipline was extremely severe. Boys were beaten with rods or birch twigs. Discipline in Tudor schools was also savage. The teacher often had a stick with birch twigs attached to it. Boys were hit with the birch twigs on their bare buttocks. One of the most commonly used forms of corporal punishment was birching. This punishment meant beating a person across the backside with birch twigs. This was once a common punishment in schools and could also be imposed by the courts for minor offences. Birching was banned in Britain in 1948. Other forms of corporal punishment for adults included branding and mutilation. At the beginning of the 19th century two men Joseph Lancaster and Andrew Bell independently invented a new method of educating the working class. In the Lancaster system the most able pupils were made monitors and they were put in charge of other pupils. The monitors were taught early in the day before the other children arrived. When they did the monitors taught them. Under Lancasters system pupils who did well were rewarded with badges. When they collected enough badges they were rewarded with a toy. However Lancaster also used cruel punishments such as the pillory, suspending pupils in a basket from the ceiling and forcing them to wear a wooden log around the neck. Punishments in schools were still brutal in the 19th century. As well as beatings less able pupils were humiliated by being forced to wear a dunces cap. Until the late 20th century it was quite normal for teachers to beat children. In the 19th century hitting boys and girls with a bamboo cane became popular. In the 20th century the cane was used in both primary and secondary schools. The ruler was a punishment commonly used in primary schools in the 20th century. The teacher hit the child on the hand with a wooden ruler. Also objects such as shoes or the slipper were often used in secondary schools. Normally it was a trainer or a plimsoll. Teachers used a trainer to hit children on the backside. However when the cane was used it was recorded in a punishment book. When the slipper was used it normally was not, which meant in effect that PE teachers could hit children when they felt like it. The tawse was a cruel punishment used in Scottish schools. It was a leather strap with two or three tails. It was used in Scotland to hit a childs hand. In the 20th century the leather strap was used in some English schools. Children were either hit across the hands or the backside. It was not only schools where children where victims of corporal punishment, in the 19th century children were hit at work. In the early 19th century in textile mills children who were lazy were hit with leather straps. Furthermore lazy children sometimes had their heads ducked in a container of water. However in the late 1960s and early 1970s the cane was phased out in most primary schools. In England in 1987 the cane was banned in state-funded secondary schools. However it was only until 1999 that It was banned in private schools. Throughout history until very recently parents beat their children. In the 20th century many parents used a wooden spoon to hit children. Other implements used included belts, slippers and hairbrushes. In the late 20th century public opinion turned against corporal punishment and in several countries it has been banned. It has been argued for many years whether corporal punishment should remain abolished or should be reinstated, here are some arguments for and against corporal punishment: Arguments for corporal punishment: Some argue that corporal punishment is a quick and effective method and less cruel than long-term imprisonment. Individuals who possess this viewpoint think that corporal punishment should be re-considered in countries that have banned it as an alternative to imprisonment. A strength of corporal punishment includes the belief that a quick but painful punishment is more effective and ethical that long term punishments. Many people who argue for corporal punishment believe physical wounds heal quickly, while prison and other such long term punishments can affect relationships and job prospects. Also it is believed to have a greater deterrence rate and fewer costs to society. Some studies show that frequent smacking may be counter-productive however selective or infrequent smacking or spanking has been shown to be positively effective. Many people have the opinion that parents which slap a naughty child, or one whose behaviour is endangering itself, may sometimes be the best immediate course of action under certain circumstances as it prevents the negative behaviour recurring or increasing. Arguments against corporal punishment: Many people believe corporal punishment is ineffective. It is believed spanking a child will stop the child from misbehaving for the moment, but studies have shown that the childs compliance will only last for a short time. Also it has been proved corporal punishment actually increases the childs non-compliant behaviour in the future. Psychologist H. Stephen Glenn said Corporal punishment is the least effective method of discipline. Punishment reinforces a failure identity. It reinforces rebellion, resistance, revenge and resentment. And, what people who spank children will learn is that it teaches more about you than it does about them that the whole goal is to crush the child. Its not dignified, and its not respectful. Another main weakness for corporal punishment is that It has been linked to many adult problems. Corporal punishment studies have linked spanking during childhood to higher levels of adult depression, psychiatric problems, and addictions. Another study shows that children who were spanked have a lower IQ when compared to children whose parents used other methods of discipline and control. It is also a well known fact that corporal punishment can escalate to abuse. Because a spanking works for a while, the parent often repeats the spanking whenever the child misbehaves. Corporal punishment may then become a standard response to any misbehaviour. This can lead to increasingly frequent and harsher spanking which can exceed the reasonable force threshold and become abuse. To conclude corporal punishment although effective for a short while has been proven on more than one account to cause more problems than it solves. Also a law which enables a person to hit or hurt another person is completely un-ethical as it goes completely against the human rights which everyone possesses. Why Did the Great Depression Last so Long? Why Did the Great Depression Last so Long? WHY DID GREAT DEPRESSION LAST SO LONG? WHAT FACTORS CONTRIBUTED TO ITS END? Great depression Great Depression is the overall financial downturn that started in 1929 and kept going until around 1939. It was the longest also, most extreme depression ever tested by the industrialized Western world. In spite of the fact that the depression started in the United States, it brought about intense decreases in yield, extreme unemployment, and intense collapse in every nation of the globe. However its social and social impacts were no less amazing, particularly in the United States, where the Great Depression positions second just to the Civil War as the gravest emergency in American history. Economic history The timing and seriousness of the Great Depression shifted considerably crosswise over nations. The Depression was especially long and serious in the United States and Europe; it was slighter in Japan and a lot of Latin America. Maybe as anyone might expect, the most exceedingly awful sadness ever experienced originated from a large number of reasons. Decreases in customer interest, budgetary freezes, and confused government strategies brought about monetary yield to decline in the United States. The gold standard, which connected almost all the nations of the world in a system of altered money trade rates, assumed a key part in transmitting the American downturn to other nations. The recuperation from the Great Depression was impelled generally by the deserting of the gold standard and the resulting money related extension. The Great Depression achieved basic changes in monetary establishments, macroeconomic approach, and financial hypothesis. Timing and severity In the United States, the Great Depression started in the summer of 1929. The downturn got to be uniquely more regrettable in late 1929 and proceeded until early 1933. Genuine yield and costs fell steeply. Between the top and the trough of the downturn, mechanical creation in the United States declined 47 percent and genuine GDP fell 30 percent. The wholesale value file declined 33 percent (such decreases in the value level are alluded to as emptying). In spite of the fact that there is some verbal confrontation about the unwavering quality of the insights, it is broadly concurred that the unemployment rate surpassed 20 percent at its most elevated point. The seriousness of these decreases gets to be particularly clear when they are contrasted and Americas next most exceedingly bad subsidence of the twentieth century, which of 1981–82, when genuine GDP declined only 2 percent and the unemployment rate crested at fewer than 10 percent. Also, amid the 1981– 82 subsidence costs kept on rising, despite the fact that the rate of cost increment regulated considerably (a marvel known as disinflation†). Causes of the Great Depression The central reason for the Great Depression in the United States was a decrease in spending (here and there alluded to as total interest), which prompted a decrease underway as makers and merchandisers recognized an unintended ascent in inventories. The wellsprings of the withdrawal in spending in the United States changed throughout the span of the Depression; however they cumulated into an amazing decrease in total interest. The American decrease was transmitted to whatever remains of the world generally through the gold standard. In any case, an assortment of different elements likewise impacted the downturn in different nations. The causes are as follows; Stock market crash The starting decrease in yield in the United States in the late spring of 1929 is broadly accepted to have originated from tight U.S. financial approach went for restricting securities exchange hypothesis. The 1920s had been a prosperous decade, yet not an extraordinary blast period; wholesale merchandise costs had remained about consistent during the time and there had been gentle subsidence in both 1924 and 1927. The one undeniable territory of abundance was the stock exchange. Stock prices had increased more than fourfold from the low-slung in 1921 to the crest came to in 1929. In 1928 and 1929, the Federal Reserve had brought investment rates up with expectations of moderating the fast ascent in stock costs. These higher investment rates discouraged premium touchy spending in zones, for example, development and car buys, which thusly lessened generation. A few researchers accept that a blast in lodging development in the mid-1920s prompted an overabundance supply of lodging and a n especially huge drop in development in 1928 and 1929. Hence, although the Great Clatter of the stock market and the Great Depression are two truly separate occasions, the decrease in stock costs was one variable creating the decrease underway and work in the United States. Banking anxieties and monetary reduction The following hit to total interest happened in the decline of 1930, at the time the first of four waves of saving money frenzies grasped the United States. A saving money frenzy emerges when numerous contributors lose trust in the dissolvability of banks and at the same time request their stores be paid to them in real money. Banks, which regularly hold just a small amount of stores as money stores, must sell credits so as to raise the obliged money. This methodology of hurried liquidation can cause even a beforehand dissolvable bank to come up short. The United States experienced boundless managing account frenzies in the fall of 1930, the spring of 1931, the fall of 1931, and the fall of 1932. The last wave of frenzies proceeded through the winter of 1933 and reached a state of perfection with the national bank occasion proclaimed by President Franklin Roosevelt on March 6, 1933. The bank occasion shut all banks, allowing them to revive strictly when being esteemed dissolvable by government controllers. The frenzies took a serious toll on the American keeping money framework. By 1933, one-fifth of the banks in presence towards the beginning of 1930 had fizzled. The gold standard A few economists accept that the Federal Reserve permitted or created the immense decreases in the American cash supply incompletely to protect the gold standard. Under gold standard, each nation set an estimation of its coin as far as gold and took money related activities to protect the settled cost. It is conceivable that had the Federal Reserve extended extraordinarily because of the managing an account alarms, nonnatives could have lost trust in the United States dedication to the gold standard. This could have prompted expansive gold outpourings and the United States could have been compelled to downgrade. Moreover, had the Federal Reserve not fixed in the fall of 1931, it is conceivable that there would have been a theoretical attack on the dollar and the Unites States would have been compelled to forsake the gold standard alongside Great Britain. International lending and trade A few researchers stretch the significance of other global linkages. Outside giving to Germany and Latin America had extended incredibly in the mid-1920s. U.S. giving abroad then fell in 1928 and 1929 as a consequence of high premium rates and the blasting securities exchange in the United States. This diminishment in outside giving may have prompted further credit withdrawals and decreases in yield in borrower nations. In Germany, which experienced to a great degree fast swelling (hyperinflation) in the early 1920s, fiscal powers may have wavered to embrace expansionary arrangement to check the financial lull on the grounds that they stressed it might re-light swelling. The impacts of lessened remote loaning may clarify why the frugalities of Germany, Argentina, and Brazil twisted down before the Great Depression started in the United States. Sources of recovery and Conclusion Given the key parts of money related compression and the gold standard in creating the Great Depression, it is not astonishing that cash downgrades and fiscal extension turned into the main wellsprings of recuperation all through the world. There is an outstanding relationship between the time nations relinquished the gold standard (or debased their monetary standards significantly) and a recharged development in their yield. Case in point, Britain, which was constrained off the gold standard in September 1931, recuperated moderately early, whereas the United States, which did not viably downgrade its money until 1933, recouped considerably later. Additionally, the Latin American nations of Argentina and Brazil, which started to depreciate in 1929, had generally gentle downturns and were to a great extent recouped by 1935. Conversely, the Gold Bloc nations of Belgium and France, which were especially married to the gold standard and moderate to degrade, still had modern generation in 1935 well underneath its 1929 level. Bibliography and Sources used MILTON FRIEDMAN and ANNA JACOBSON SCHWARTZ, A Monetary History of the United  States, 1867–1960  Available at: https://www.google.com.ng/url?sa=trct=jq=esrc=ssource=webcd=1cad=rjauact=8ved=0CBwQFjAAurl=http%3A%2F%2Fpress.princeton.edu%2Ftitles%2F746.htmlei=JH8QVbCuC8qUNuuOhMgKusg=AFQjCNFPP3wSJlCQfnWD7PprJTeLAvcLQgsig2=-xIZqf1VPxXFFglQHXjvGg BARRY EICHENGREEN, Golden Fetters: The Gold Standard and the Great Depression,  1919–1939  Available at: https://www.google.com.ng/url?sa=trct=jq=esrc=ssource=webcd=7cad=rjauact=8ved=0CEMQFjAGurl=http%3A%2F%2Fpdf18.orumrf.com%2Fizjj_golden-fetters-the-gold-standard-and-the-great-depression-1919.pdfei=z38QVeGrGYKcgwTJ44DQBQusg=AFQjCNG-7y-HJcpY8n1jSHatfag3-NcjGwsig2=sy3MpyRbHKqWdgPgqLGCGgbvm=bv.88528373,d.eXY LESTER V. CHANDLER, America’s Greatest Depression, 1929–1941 (1970)  Available at: https://www.google.com.ng/url?sa=trct=jq=esrc=ssource=webcd=1cad=rjauact=8ved=0CB0QFjAAurl=http%3A%2F%2Fwww.jstor.org%2Fstable%2F1991426ei=FIAQVefINci6ggTFnIGACQusg=AFQjCNE7Hs75wkTzQbYRUFbO0ZB1P02I0Qsig2=csBo_ouzWmqyE1hfk68YAwbvm=bv.88528373,d.eXY

The Burden in The Things They Carried by OBrien Essay -- Things The

The Burden in The Things They Carried by O'Brien   In "The Things They Carried," O'Brien made reference to the Vietnam war that was closely associated with the physical, psychological, and emotional weight the soldiers beared.   The overall method of presentation of this story incorporated many different outlooks on the things the soldiers carried, dealt with, and were forced to adapt to.   In addition to this, O'Brien showed us the many reasons why and how the soldiers posessed these things individually and collectively and how they were associated directly and indirectly.   The strong historical content in "The Things They Carried" helped emphasize the focus of the story and establish a clearer understanding of details in the narrative and moods of the war itself.   From this, we are able to draw conclusions and assumptions to the events as it relates to the Vietnam war.   Three areas that "The Things They Carried" established and elaborated were the youthfulness of the Vietnam soldiers, their language and thought pattern s, and the actual tangible and intangible things they carried.   Ã‚  Ã‚  Ã‚   During Vietnam, soldiers were selected to be bought in to fight by draft.   Many families lost their youth through this process that would immediately force young boys to leave home and train for war.   I found an intriguing website that will tell you according to your birthdate, if you would or would not have been drafted during that time period. (Go)   In O'Brien's narrative, he portrays the soldiers as being young.   In the opening of the story, we immediately see a young man, First Lieutenant Jimmy Cross, who is deeply in love with a college girl.   On page 13, we find out that he is only twenty-four.   Throughout the story we find many hin... ...page 15, O'Brien describes that the men carried the whole atmosphere.   On page 15, we are made aware that they carried diseases, parasites, infections and many other ailments.   Page 15 elaborates on how the soldiers carried the land itself.   They carried ghosts, their lives, eachother, pressures, and often the burden of just being alive as explained on page 19.   Ã‚  Ã‚  Ã‚   "The Things They Carried"   helped recognize particular aspects of the war as it associated with the soldiers and their lives individually and collectively.   Through his story, O'Brien described the overall mood of the war and the soldiers involved.   "The Things They Carried" posed many aspects and angles of the burdens the soldiers packed during throughout the war as well as the emotional stress that was associated along with it. O?Brien, Tim. The Things They Carried. NY: Broadway Books, 1998.

Mao is a Rotten Egg

I enjoyed reading Chairman Mao is a Rotten Egg because it shows the relationship between parents and children and parents and the government under Mao Tse-tung. The mother in the story was very concerned with what she thought her child said because it had potential to jeopardize her relationship or right standing with the government. If her child, Ching-Ching, was a counterrevolutionary, there was a possibility that he would have been killed or at the least had his statement on record for the rest of his life.You can also see how other parents reacted to what they thought their children said. For example, Tung-Tung was in trouble later on in the story because his father thought that he had said something against Chairman Mao. The story also lets us know what Tung-Tung rarely cried, so for his father to become very angry about his statement more than if he had lied or done something else he knew he wasn’t supposed to do, their regard for Chairman Mao must be incredibly high.Che n Jo-hsi, according to the Time article, wrote about situations that could have happened in China during that time period. I think it is important because while there was no literature produced out of China under Tse-tung, those who read these stories and who live in China can relate to these situations. However, I think it would be difficult for me to live in a place where I have to be a little more loyal to my government than to my own family.

Missing the Train Essay

In my story â€Å"Missing the train† I used foreshadowing to show that I was late to school by missing the train, to support the fact that whenever you don’t be on time for the first part then you will not be on time for the next part. I was sleeping peacefully under the warm covers until my annoying alarm clock started ringing its annoying tone. I got up and turn off the alarm and that’s when I realized how cold the floor was. I quickly ran to the bathroom when I realized I left the window open last night and the bathroom was freezing. There was a shiver that ran though my spine and that’s when the goosebumps formed. I turned on the warm water and washed my face with my face wash that somehow got in my eyes and started to burn. I tried to wash it off with water but it still stung but slowly went away. I felt disgusting so I got dressed and put on my make up so I looked presentable. I didn’t like my outfit so I changed it about 3 times. I looked at the clock that’s when I realized that I was late so I quickly ate my breakfast and ran out the door to catch the train I always take when I realized I missed it, so I had to wait at the train station for about 10 minutes. It was really cold out in the morning so I had to wait downstairs where is smells bad, the smell made me want to throw up. The train finally came and I had to sit in between two kids playing fun run this game and they were hitting me every time they would make a move. I was very annoyed and of course I get off at the last stop. The train ride wouldn’t have been so bad if the 2 kids weren’t there. After I got out of the train station I had to wait for the bus for a long time. I saw my bus come after 15 minutes; I was very annoyed because that’s when I realized I wasn’t going to make it to school on time.

Death Penalty - Pro stance essays

Death Penalty - Pro stance essays I believe in the death penalty. I believe that in certain cases, criminals deserve to die. We dont need them to be a burden to our society. And when people say that it is a waste of human resources, theyre saying that theyre okay if a murderer lives and has a chance to escape and kill again. We knows whom he or she kills, it could be you, him, her, me, them? The death penalty is not inhumane because we are getting rid of the bad people in society. Also, what do we do if a person that is sentenced to life commits another crime? Does he/she get sentenced to life again? That wouldnt make sense. The only way we can deter them is o kill them. If there were no death penalty, then the world would be overcrowded with prisoners. Our prison system is already over crowded. I think that the death penalty is good for society. Liberals argue that we make mistakes in the cases sometimes, that sometimes the person on death row is found innocent after. Well, if theyre found innocent then it was our mistake. But that case happens rarely since a person that is sentenced to death has an automatic court appeals case. There is always more than one case and if the evidence to prove that he/she is guilty is great, why not execute him/her? Society should operate on a basis of the greatest good for the greatest number. The utilitarianism of the Renaissance in Europe is an example of that. If the majority of death penalties are correct and only a few of them, a miniscule amount are wrong, then it is good to proceed with the executions. My view on the death penalty is 3 strikes and youre out. If a criminal commits 3 major felonies then hes dead. There should be no argument about that. Its justified to execute the bad people; we have a moral obligation. ...

Safety and Security

Safety and Security Safety and Security Safety and Security By Maeve Maddox Cora wants to know the difference between safety and security. Safety and security and their adjectives safe and secure are often used in tandem, as in the hymn: Leaning, leaning, safe and secure from all alarm Leaning, leaning, leaning on the everlasting arms These definitions from the OED treat them as synonyms: safety: a. The state of being safe; exemption from hurt or injury; freedom from danger. safety chain, a chain providing additional security security: The condition of being protected from or not exposed to danger; safety. Nevertheless, the words differ in connotation and writers will weigh the context when deciding which to use. Safe and safety, for example, push emotional buttons that secure and security dont. We speak of national security, but personal safety. Threatened townspeople seek the security of castle walls, but a frightened child runs to the safety of her fathers arms. Security surrounds, but safety enfolds. Perhaps the lingering differences between the words can be found in their differing etymologies. Safe comes from Latin salvus, uninjured, healthy. Its related to salus, good health. Secure comes from Latin securus, without care, from se, free from, and cura, care. To my mind, security suggests freedom from worries that derive from knowing that certain external safeguards are in place and that I can rely on them to protect me and my property. Safety is a richer word that includes an inner certainty that all is well. In a sense, security is external, while safety is internal. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Congratulations on or for?Taser or Tazer? Tazing or Tasering?Hyphenation in Compound Nouns

Free sample - Case P3 DB. translation missing

Case P3 DB. Case P3 DBAn individual retirement arrangement is a conviction that has been set up to collect retirement aid from individuals.   The agreement may take the structure of an individual retirement arrangement or individual retirement annuity. The amount of funds that may be contributed to the IRA is restricted. These amounts that are earned in the individual retirement arrangements are never levied up to the time when they are withdrawn. The individual retirement accounts are of two types which provide an advantage as one saves for retirement. They both have the same annual contribution limits, catch up provisions if one is 50 and above and withdrawal requirements. One opens an individual retirement account which is self directed with a financial service organization such as a bank. There are several types of IRAs that range from conventional IRAs, Roth IRAs, easy IRAs and SEP IRAs. Conventional IRAs and Roth IRAs are set up by individuals who are given the chance to give 100 percent of reward up to a set out maximum dollar amount. Contributions to the traditional IRAs may be taxable depending on the tax payer`s income. Roth IRAs are not taxable. SEPs and SIMPLE IRAs are planned by employers. The Roth IRA is the best because it is not taxable and contributions are completed with after tax money. It allows for annual contribution to a retirement account. A tax free withdrawal of up to $10,000 is allowed for a first time home purchase as long as the holding five year minimum period is met.   Withdrawal of interest are taxable and are subject to a ten percent penalty unless it is withdrawn due to death, disability, purchase of a first home, higher education and medical expenses in excess of 7.5 percent gross income or health insurance premiums. Distributions before 59  ½ of age are not taxable only applying to contributions.   Reference Thomas, A.K. (2004). Fairmark Guide to the Roth IRA: Retirement Planning in Plain Language. Lisle: Fairmark Press Inc.

Activity Analysis #6 - Newspaper Article Review Essay

Activity Analysis #6 - Newspaper Article Review - Essay Example Even as a strong set up it was, the sudden loss of seven of its employees jolted the management structure and the company was forced to freeze its operation for a week. The reports of officials said Mr. McDermott; the accused apparently had no permits for possessing the weapons. However, the man had never been arrested for any criminal breach. The victims were of different regions of residence and were no way in possession of professional dealings with the accused. Sources also revealed that the man had lived a secluded life away from relationships. However, there are no factors predictive of workplace violence present in Edgewater case. The report of the shoot-to-death case was subsequently attached to case registers of various other issues of homicides occurred in different locations across the United States of America. Texas, Tampa, Honolulu, Alaska, Atlanta, Newington, California and Los Angeles had marked records of such happenings of industrial dispute resulting in manslaughter at famous companies. Although the reason behind the impulsive killing instinct is inexplicable, investigating authorities depend on the behavioral patterns of the accused to find out the reasons for such heinous acts in various cases to record and store for further references of repetitions of such incidents. Work place violence (WPV) refers to violence that originates from employees or employers. Work place violence is identified as the second-leading cause of homicide in the United States of America; for instance, almost 1000 workers are killed each year at workplace (Fisher & Lab, 2010, p. 1072). Violence in the work place is a serious safety and health issue. A clear definition of WPV can be read out as incidents where people are abused, threatened or assaulted in circumstances relating to their work, involving an explicit or implicit challenge to

Talking Styles Essay Example | Topics and Well Written Essays - 500 words - 3

Talking Styles - Essay Example Besides, two people in a relationship may evince different compatibility between their talking styles at different times, depending on the phase their relationship is going through, the politics involved in the relationships, the levels of stress one or both of them are facing. Relationships to a great extent are about give and take. It is practically not possible that the two people involved in a relationship, whether it is family or friendship happen to be emotionally and mentally on the same plane at any particular time. Mature people do understand that sometimes the people with whom they relate to get so stressed up and negative that they do resort to incompatible and disparate talking styles. Yet, it does not mean that they do not share a strong relationship. Rather it is at such times that the saner partners are required to show tact and presence of mind that sometimes go a long way in distressing and relieving the other partner in that relationship. This is something that is well corroborated by commonsense and general experience. Personally speaking, I believe that the results facilitated by the language style matching website to me (0.8) were not quite accurate (Online Research Consortium from Universities around the World, 2012). I was communicating with a close friend the desire to have dinner with her on a weekday. Considering the fact that she is quiet stressed up on her career side right now and that she had a busy night that day, it was quiet natural to expect a slightly passive response from her. In fact her act of conveying to me her stressed state evinced a closer level of intimacy between us, than predicted by the language style matching scores. In fact I tried to ascertain the veracity of these scores by talking to my friend about this issue after a couple of hours. Whereas the language style matching website indicated that we did not share a strong bond, actually speaking, my friend told me that she was really

Outdoor Adventure Activities Essay Example | Topics and Well Written Essays - 1250 words

Outdoor Adventure Activities - Essay Example (Leeuwen, 1996, P. 65) Caving is the act of visiting caves. Cave can be described as natural physical environment in which the rocks are arranged in a way that they appear like houses. Caves have been known as the home of traditional men when they were not civilized enough to construct houses. Caves have become one of the most attractive outdoor activities not only for leisure but also as a way of learning geography of a place and also the history of the people. They are important sites for archaeologist as they try to dig deep into the history of the people. Caves are important place to learn civilization as people go to explore the arts of painting on these caves which tell moir about the civilization of these people. However those who go for caving do so for leisure activity in the sense that they want to have an experience of those gone days. They want to feel link those old people felt when they stayed in the caves. Other just wants to have a relaxing atmosphere where they can relax in quietness with out disturbance in the unusual environment. On the other hand canoeing is a water based activity which involves travelling on the water in a canoe. This activity may be carried out for leisure or for the purpose of travelling. If used for leisure individuals will be c engaging in the activity for fun or for exploring water geography. (Rivkin, 1995, P. 21) Both of the above mentioned activities will have several environmental impacts. This arise form the fact that both outdoor activities involve a form of interaction with the environment. Let us look at each of the issue. Environmental effect of caving During caving there are various instances at which individuals are likely to interfere with the set up of the environment. First many of the caves are located secluded areas which are not always visited by people as a result as people go to these caves they interfere with the natural environmental set up. Fore example if the cave is located in deep forest as is the case with many caves individual are likely to interfere with the set up of natural environment. This may involve clearing of the forest in order to pave way for their entrant into these caves. Therefore tone of the environmental effect that caving may have is that it may lead to clearance of the environment in order to pave way for entrance into these caves. Caves also hold their own economical habitats. Apart from home of flying mammal like bats, they are also home to a variety of insects and other small rodents. Therefore as individuals go caving, there are likely to interfere with the natural life of these animals. This may have an effect of making the animal relocate to other areas which leads to loss to their natural ecology and therefore disruption of the food chain. For those who go caving they are likely to carry foods and other items. If there is no proper disposal of the wastes, it may lead to pollution of the environment. In many cases, some of these wastes may be poisonous to the animals and as they consume tem they may dies. Therefore one of the most serious problems that may be associated with caving is pollution of the environment. There should be a proper waste disposal mechanism should ensure that poisonous materials like

The Gaming and Console Industry Essay Example | Topics and Well Written Essays - 2250 words

The Gaming and Console Industry - Essay Example Among the notable improvements in the computer world that attribute their success to the gaming industry, including sound cards, graphics cards, and 3D graphics accelerators. CD-ROM and DVD-ROM drives also base their invention in the gaming industry (Hooper 1991). Sony has been in the industry for a considerable number of years and has been the key provider of the video games with its PlayStation devices. Regardless of the increased competition, the industry’s future is still very promising as more people buy and use games. Sony has been in the industry for a long time, but its sales and revenue from the business has been declining considerably with time. This is due to various reasons, some of which the company has control over, while others it cannot control. As more people use games, more players come to the market, increasing competition. Changing customer tastes, substitution by other forms of games and environmental factors could be a reason for the decline in the perfor mance. However, despite this, the company is likely to remain in the business for a long time. Q 1 Porter’s five competitive forces Competitive rivalry Sony is operating in a very competitive industry, with many firms coming up with different forms of gaming. With the increase and technological revolution, many companies have started providing games via digital devices, for example, smartphones. Other companies have gone a step further to provide online streaming of games for their customers where people can play games online from the internet. Regardless of the stiff competition, the company is currently facing, Sony’s consoles are not about to be edged out of the market anytime soon due to increased innovation and inclusion of a variety of features if the recent launch of PlayStation 4 is anything to go by. Although prospects are high in the gaming business, expectations are that in future, the profits will keep on dwindling and the next generation of games will neve r rake even half of what the current is making. Stakes are high, risks have increased to the point that currently, Sony is struggling to command superiority in the same market that it had previously dominated. With increased uptake of technology, research, and experiments in the industry, more and more developments are coming to place.

Network Design management (Dissertation) Literature review

Network Design management (Dissertation) - Literature review Example Theoretical framework: OSI reference model: The OSI model (operation systems interconnection) is used to distribute the internal activities of a communications system into a number of layers (Kozierok, 2005). The model distributes the communication system into seven different logical layers where each layer is designed to perform a unique function. The seven layers are given below: Layer 1: The first layer is known as the physical layer. The first layer is used to specify the physical and electrical needs of the device. The physical layer basically provides a connection between the transmission medium i.e. the communication cable and the device itself. Other than that the physical layer sets up the connection with the communicating device, terminates the communication and the conversion of digital data into analogue signals (Kozierok, 2005). Layer 2: The second layer of the OSI model is the data link layer. The data link layer is responsible for detecting any errors that occur at the first level of the device. In addition the data link layer also handles the flow control of the packets of data. The data link layer is divided into two parts the MAC (Media Access Control) layer and the LLC (Logical Link Control) layer. The MAC layer handles all the activities that allow the device to gain permission to access a network and to transmit the data packet. While the LLC layer is responsible for handling the flow control, error checking and flow control of the data packet (Kozierok, 2005). Layer 3: The third layer is called the network layer and it creates virtual paths on which the data packet is transmitted. Moreover the network layer is responsible for congestion control and addressing the packet (Kozierok, 2005). Layer 4: The fourth layer is the transport layer ensures that the entire data packet layer is transferred from the sender’s end to the receiver’s end. Layer 5: The session layer is responsible for establishing sessions between the sender†™s applications and the receiver’s application. Layer 6: The presentation layer encrypts and decrypts the message from the data packet. The application layer transforms the data into a form that the application can understand. The application layer encrypts the data in such a way that data transferred faces no compatibility issues (Kozierok, 2005). Layer 7: The application layer is the layer with which the user has the most interaction. The application layer supports all the user applications and the user’s activities. User authentication, quality of service and privacy are taken into account at this layer (Kozierok, 2005). E-governance engineering methodology: There has been a lot of work and research carried out regarding the performance measurements used within the public sector. Measuring the service quality and performance monitoring are just some of examples where significant progress has been made. However, there always has been an issue of how these factors a re to be integrated with various process of designing and development processes that are regularly used for e-governance projects (Carter et al., 1995). By adopting and implementing the correct methodology the integration of e-governance process and planning and designing services could become a possibility. There have been a

Compare and contrast at least Three theoretical perspectives on Essay

Compare and contrast at least Three theoretical perspectives on healthcare management and leadership - Essay Example Leadership seems to be a trending topic even in healthcare where better leadership is considered to be a significant factor in improving quality of healthcare and organizational processes (Hartley & Benington, 2010). The study compares and contrasts three leadership and management theories that include transformational theory, Shared leadership theory and situational theory because leadership theories are dynamic and change with time. Transformational leadership Transformational theory usually goes beyond traditional style of transactional leadership and elaborates that people work effectively if the individuals have a sense of mission. Healthcare systems experience various challenges and chaos as healthcare organizations increasingly face complex problems, which motivate organizations to embrace transformational leadership. Transformational leadership considers a leader to be an individual that is capable of enabling others to act and even converting the followers to become leaders who in turn can be agents of change (Roussel, 2013). This model influence arise from the power of being a leader although the leader never uses the power to control or even repress constituents but rather a transformational leader empowers the constituents to have vision regarding the organization. In transformational theory energy initiates and sustains activities that translate intentions into reality; hence, in this perspective leadership is not concerned with so much exercise of power but rather focuses on empowering others (Borkowski, 2009). However, this does not imply that leaders in this approach relinquish power but instead emphasizes reciprocity exchange between leaders and constituents. The approach links the purpose of the leader to that of the constituent, which results in collective purpose which empowers staff and activates critical thinking in the staff’s roles in an organization and develops commitment in staff an essential asset for any organization (Goodwin , 2013). Transformational leaders mobilize staff through focusing on the welfare of people in the work environment because leadership experts recommend styles that empowers and recognizes collaboration instead of competition (Roussel, 2013). When the working atmosphere is empowering, people get empowered and feel part of a team and consider themselves to be contributors to the success of an organization. In healthcare, empowerment may result in increased patient care, reduced staff sick days as well as reduced attrition. Transformational healthcare leaders tend to have a staff that has high job satisfaction and who remain in an organization for a prolonged period (WHO, 2008). However, for healthcare leaders who always want to be in charge, the method may make them feel threatened by sharing their power with the staff. Moreover, although effective leadership supports shared power, the leader accepts responsibility in decision making even when the decision made is unpopular. In this a pproach, constituents like their wishes to be considered; however, there are times like in a crisis when constituents require prompt and clear decisions from the leader and this is where situational theory comes in. Because of the flexibility of a transformational leader, a leader in this approach is able to adapt styles for

Network Design management (Dissertation) Literature review

Network Design management (Dissertation) - Literature review Example Theoretical framework: OSI reference model: The OSI model (operation systems interconnection) is used to distribute the internal activities of a communications system into a number of layers (Kozierok, 2005). The model distributes the communication system into seven different logical layers where each layer is designed to perform a unique function. The seven layers are given below: Layer 1: The first layer is known as the physical layer. The first layer is used to specify the physical and electrical needs of the device. The physical layer basically provides a connection between the transmission medium i.e. the communication cable and the device itself. Other than that the physical layer sets up the connection with the communicating device, terminates the communication and the conversion of digital data into analogue signals (Kozierok, 2005). Layer 2: The second layer of the OSI model is the data link layer. The data link layer is responsible for detecting any errors that occur at the first level of the device. In addition the data link layer also handles the flow control of the packets of data. The data link layer is divided into two parts the MAC (Media Access Control) layer and the LLC (Logical Link Control) layer. The MAC layer handles all the activities that allow the device to gain permission to access a network and to transmit the data packet. While the LLC layer is responsible for handling the flow control, error checking and flow control of the data packet (Kozierok, 2005). Layer 3: The third layer is called the network layer and it creates virtual paths on which the data packet is transmitted. Moreover the network layer is responsible for congestion control and addressing the packet (Kozierok, 2005). Layer 4: The fourth layer is the transport layer ensures that the entire data packet layer is transferred from the sender’s end to the receiver’s end. Layer 5: The session layer is responsible for establishing sessions between the sender†™s applications and the receiver’s application. Layer 6: The presentation layer encrypts and decrypts the message from the data packet. The application layer transforms the data into a form that the application can understand. The application layer encrypts the data in such a way that data transferred faces no compatibility issues (Kozierok, 2005). Layer 7: The application layer is the layer with which the user has the most interaction. The application layer supports all the user applications and the user’s activities. User authentication, quality of service and privacy are taken into account at this layer (Kozierok, 2005). E-governance engineering methodology: There has been a lot of work and research carried out regarding the performance measurements used within the public sector. Measuring the service quality and performance monitoring are just some of examples where significant progress has been made. However, there always has been an issue of how these factors a re to be integrated with various process of designing and development processes that are regularly used for e-governance projects (Carter et al., 1995). By adopting and implementing the correct methodology the integration of e-governance process and planning and designing services could become a possibility. There have been a

Hydrogen vehicles Essay Example for Free

Hydrogen vehicles Essay Introduction There are many debates that are advocating for a proper implementation of transport systems, involving greatly upgraded sea transport, conversion of freight industry away from the road network. It is therefore possible for a company to reduce greenhouse gas for the benefit of the environment, through the adaptation of these transport systems. The debates also advocates for the use of hydrogen fuelled cars. This kind of vehicles use hydrogen gas as their powering tool and is considered the safest to the environment. Hydrogen gas cars are said to be somehow expensive, and technologically complex but with great investments companies can be able to utilise them effectively and help reduce the greenhouse gases. Most automobile companies are beginning to use these types of cars with a vision of minimizing costs, especially given the fact that fuel prices are even getting more expensive. Since fuel prices are becoming part of the company’s concerns, there is a need for the companies to effectively seek to have their transport systems to become compliant with the policies in the motor industry sector. So far, hydrogen cars are therefore increasingly being sought after as a matter of commitment by the companies. Discussion The hydrogen is normally derived from the renewable or non- renewable sources, where it is thereafter used on a daily basis. its sources are best known to be solar, water, wind and nuclear powers, though it is found that many vehicles using hydrogen as their source of energy tend to be less polluting the environment than those using gasoline and diesel, this is because, the used hydrogen fuel cells has a less production of carbon dioxide than normal combustion engines. Hydrogen is understood as the lightest fuel that appears in a gaseous state, operated at an atmospheric pressure and an ambient temperature containing a low level of carbon gases such as carbon dioxide and carbon monoxide, this gas is normally stored under a storage system which allows it to be stored as compressed hydrogen, liquid hydrogen in the materials such as the metal hydrides. The reason for this invention is that these vehicles are found to be producing no air pollutants, but instead they only emit heat. It is basically considered as an alternative fuel in vehicles due to its mode of creation that is, it can be made from a number of resources and its characteristics of allowing a clean-burning procedure. The production of this gas has been proposed to be carrying various advantages such as; enabling a stronger national energy security, it also brings about a reduction on the green house gas emissions thus allowing an improvement in the quality of the environmental air, and the other advantage is that of enhancing an increase in the energy efficiency in particular countries. In this case, we find that the United States had a record of 200 hydrogen powered vehicle as in the month of April 2007, these vehicles are based in California, they are normally those cars that run at a high speed, which have been said to be already running on the hydrogen fuel, this vehicles include buses, submarines aeroplanes and also rockets. Though this invention is not yet available in most motor markets, this invention is being established various vehicle fleets an example of this is that of the Honda which is widely known as a light duty vehicles. The United State is said to be concentrating on the invention of more hydrogen vehicles that are meant to cover the whole transport sector in the nation by bringing up more hydrogen refueling stations, this activity is conducted by Department of Energys FreedomCAR, Vehicle expertise and the (HFCIT) the Hydrogen, Fuel Cells, and Infrastructure Technologies Programs, which are said to have developed to be conducting supervision on the performance of the fuel cell vehicles and also sustaining the hydrogen transportation. Under this development we find that the State is trying hard to cut off its dependency on the oil from the Middle East whereby, we see that it has more plans to transform its oil system and start depending on the fuel resulting from hydrogen which carry advantage of not pollute the environment. According to research, it is reported that 95% of the transportation industry depends on hydrogen, under which 65% is used for transportation. Many scientists argue that this invention will take long before it is accepted by the transportation sector, but many companies are found to be investing in the hydrogen vehicle invention. An example is the Ford company which has come up with a plan of launching hybrid electric powered vehicles, this vehicles are meant to act as a solution to energy conservation that are therefore likely to be replaced by the hydrogen vehicles. Conclusion A lot has been said about the market of the hydrogen vehicles, many argue that this invention will take along time to be accepted in the market but we see that there are many governments and the motor industries, are for the idea of using the hydrogen fuel, whereby they have seen coming up with various programs which will implement the invention of these vehicles, thus overcoming the technical and cost barriers accruing in the invention. References Alex, L.(2000): Hydrogen Powers GMs Test Vehicle of the Future. Plain Dealer, p. 23 Daniel H. (2000): Iceland Warms Up to Hydrogen Fuel, the Detroit News, 10 Business p. 12-19 John, F. (2000): The Elements Hydrogen. Benchmark Books Publications Mark, D. U. (1995): The Story of Hydrogen, Grolier Publishing Inc. , p. 23-32 Vergragt, Ph. J. and Szejnwald Brown, H. (2007) Sustainable mobility: from Technological innovation to societal learning, Journal of Cleaner Production 15 (2007), pp. 1104 – 1115.

Smiths Group SWOT and PESTLE Analysis

Smiths Group SWOT and PESTLE Analysis Introduction: Smiths Group was first established as a family clock and watch business in 1851 by its founder Samuel Smith. Later in 1944 S. Smiths Sons (Motor Accessories) public limited company was formed with four divisions including motor accessories, aircraft instruments, industrial instruments and English clocks. In 1958 aircraft instruments combined with Kelvin Hughes, establish aviation and marine divisions. Company acquires Portland Plastics and Surgical Plastic in the same year (1958). Industrial division was established in 1960 which was concerned with the industrial instruments. In 1965 company changes its name to Smiths industries in 1965. (Detail history of company is listed out in appendices-1). (http://web.ebscohost.com/ehost/results) In July 2008, Smiths Group announced the acquisition of Triasx, a Brisbane-based wireless communications components manufacturer. In the same month, Smiths Detection opened a high-tech production plant in Germany designed to meet the soaring global demand for its advanced x-ray scanning machines. In September 2008, Smiths Group announced the sale of an eight acre former operational site in Basingstoke, Hampshire for  £16 million (approximately $32 million). In the same month, Smiths Medical developed a unique wireless blood pressure monitor using Bluetooth technology which is set to transform the way medics treat critically ill patients in hospital. Later in the month, the group announced that its interconnect division won long-term design and supply contracts on US military communications programmes worth a potential  £225 million (approximately $450.1 million). In November 2008, Smiths Group announced the acquisition of Zhejiang Zheda Medical Instrument, the Hangzhou-based medi cal instruments manufacturer. In January 2009, John Crane announced that it won a new  £8 million (approximately $16 million) maintenance contract from upstream oil and gas exploration company Talisman Energy (UK). In the same year, the group opened its new headquarters in central London, completing a reorganization designed to increase customer focus and significantly cut costs. (http://web.ebscohost.com/ehost/results) Review and analysis of companys sector and company standing in sector, identify its main competitors: Smiths group provide services and products for medical devices, contraband detection, energy and communication market in more than 50 countries worldwide. Group mainly operates in UK, North America and continental Europe. There are four main divisions of group which are detection, medical, john crane, medical and specialty other. Group is operates with four governments and their agencies, petrochemical companies, hospitals and equipment manufacturers and service provider in different sectors around the world. Smiths Detection is one of world best manufacturers and designers of sensors that detects and identify narcotics, explosives, weapons, chemical agents, contraband and biohazards. Detection division helps customers in the global transportation, borders and ports, critical infrastructure, emergency responder market and military. This division provides services to the customs authorities, emergency responders, security authorities and homeland securities. Division is providing different services to US Transport Security Administration (TSA), UK ministry defense and airport security to BAA in UK. John Carne is another main profits contributing business of Smiths group Plc. It provides products and services for major process industries, which includes chemical, oil and gas companies, pharmaceutical, pulp and paper and mining sector. This division provides services to oil and gas companies, pump, refineries and compressors manufacturers. Main customers include China petroleum, Chevron, BP, Qatar gas, Saudi Amraco, Shell, Total, Dresser, Flowserve, Elliot, ITT, Mitsubishi, Solar Turines and many more. (John Crane to cut 90 at seal factory, Dawson, Brad, Rubber Plastics News; 11/17/2003, Vol. 33 Issue 8, p1-22, 2p) Medical division is one of top specialist supplier of medical devices and equipments for worldwide market. Divisions products like medication delivery, safety devices and vital care are market focused and helping in the treatment of cancer, diabetes and many other illnesses. Division has direct sales in twenty countries and has distribution channels in many other countries. Flex-Tek is another division of Smiths group plc. This division provides engineered components that heat and move fluids for the medical, aerospace, industrial, construction and domestic markets. It is also providing fluids for commercial aircraft and for motor sports fuel and hydraulic applications. It has manufacturing facilities in UK, France, Malaysia, China, India and Mexico. Company customers include Boeing, Electrolux, Carrier, Whirlpool, Trane Part Whitiney GE Aerospace, Airbus, Hoover, Dyson and Panasonic. (MARKET FOCUS, Velocci, Jr., Anthony, Aviation Week Space Technology; 9/29/2003, Vol. 159 Issue 13, p10-11, 2p, 1 Chart, 1 Graph) Following are the few major compotators of Smiths Group Plc. Detail competitors information can be found in appendix. EADS Goodrich Corporation GE Healthcare Flowserve Corporation L-3 Communications Holdings, Inc. 3M Company GE one of the big rival companies is trying to acquire Smiths Group Plc. for  £2.45 billion. If this acquisition is successful than group will lose one of its important division. Smiths Group competitors are making strategic move to take group out of business. For complete list of competitors see appendices-2) (Kanter Jake, Supply Management; 10/22/2009, Vol. 14 Issue 21, p7-7, 3/4p) Smiths Group is operating in highly competitive markets and in those markets competitors have more recourses than the group. Smiths Detection competes with L3 Security Detection Systems, GE Security, Nucteck and Rapiscan Systems. In the emergency responder and military market group main competitors are Bruker, Environics, General Dynamics and Canberra. John Crane is also operation in highly competitive environment. In Oil and Gas rotation technologies major competitors of John carne are Eagle Burgmann Industries, Flowserve, Ocborne Engineering Waukesha. In equipment in upstream energy division face competitors like Norris, Weatherford, Cameron, UPCO and Quinn. Medical division competes with well establish competitors like, Teleflex, Covidien, Becton Dickinson, Cardinal, Hospira, Vital signs, Medtronic and many more. Many small and medium size competitors are working are competing with Smiths Interconnect operations. Competitors of microwave sub system include Deutsch, Radiall, Amphenol and Souriau. Smiths group aerospace tubular systems competitors include Eaton and Parker- Hannifin. Heat solutions domestic appliance and specialty heating element competitors include Watlow, Emerson and Chromalux. In construction related operation group is facing competition from Hitachi, Omega-fex, Hart Cooley, Atco and Goodman. (MARKET FOCUS, Velocci, Jr., Anthony, Aviation Week Space Technology; 9/29/2003, Vol. 159 Issue 13, p10-11, 2p, 1 Chart, 1 Graph) PESTLE ANALYSIS: (P)OLITICAL: Smiths Group has good relationship with governments like, USA, UK, Europe, China, Russia and many others. Smiths group is involved directly in national security of UK and USA. Most of the group contracts are from governments and public sector. Smiths group products are used in detection, medical, oil gas, aviation and many other businesses as well. In order itself operation group has make sure that it deals with governments fairly otherwise it will be difficult for group to keep most of it business. Involvement in national security and defense should be carried out in such a manner that no confidentiality is breached. Change in political government may result in loss of contracts as new governments may not want to continue projects with the group. Change in government policies and tax rate changes will directly affect group profitability. (http://www.smiths.com/ar09/smiths_group.aspx) (E)CONOMICAL: According to IMF reports world economy will be in recession for 2009 and 2010. It is evidenced now that this economic recession was worse than expected. Economic recession will have negative effect on group revenues and group may have to redundant extra staff if this trend continues. (http://www.smiths.com/ar09/smiths_group.aspx) (S)OCIAL: Group is operating directly and indirectly in countries with different social and cultural backgrounds. Thus group has to make sure that it shouldnt work against the cultural and social values of that country. Group should develop such human resources strategies that it will result in motivation for their staff from different back grounds. (http://www.smiths.com/ar09/smiths_group.aspx) (T)ECHNOLOGICAL: Smiths group is operating in such a competitive environment that it has to change its procedures in such a manner it should remain market leader. Technology changes results in cost savings, time saving and resources saving thus eventually results in profits. Group has acquired many running business to have benefit of new market, products and technologies. (http://www.smiths.com/ar09/smiths_group.aspx) (L)EGAL: Group operations may result in law suits either from employee or from customers. Such losses can be big enough to have negative effects on profitability. Thus group should devise mitigation strategies like get insurance for losses etc. (http://www.smiths.com/ar09/smiths_group.aspx) (E)NVIRONMENTAL: Group should operate in such a manner that its operations should result in long term sustainable profits. Group operations are global and it operations will have massive impact on environment. Thus group must act to reduce negative impacts of its operations. Group must not consume all the available resources and must replace all consumed resources as it will bring sustainability to climate and help future generation to exist. (ACCA P3, 2010) SWOT ANALYSIS: Smiths Group one of the biggest technology group globally. Smiths group acquired many companies which brought synergies for the group. On the other hand acquisition also results in many inherent problems. (S)trengths Rapid inorganic growth: Group has acquired well established companies in different sectors which give them more capabilities to meet customer needs. Acquisition of Sartorius Bearing Technology (SBT) has improved group abilities to improve technological improvement and results in high performance rotating equipment for oil and gas industry. (Smiths Group buys six US companies in a year Professional Engineering; 5/25/2005, Vol. 18 Issue 10, p14-14, 1/5p) Strong geographical presences and good customer relations: Group is operating in more than fifty countries worldwide. Group has good relations with governments like US, UK and Europe. Group have contracts with the governments, big industries, hospitals and many other global companies. Smiths detections technology is used at nearly 80% of the worlds airports and 85% of its sales are influenced by the governments and their agencies. Capabilities: Group has strong abilities to develop new technologies. Investment in research and development is significant which is a indication of group commitment to the future organic growth of the business. Group has invested  £ 86 million in RD in financial year 2008, which was 8.9% more than the previous year. (W)eaknesses Poor cash management: As compare to 2007 group cash inflows in 2008 are declining. The net cash inflow from operating activities decreased by 19.5%, if this trend continues in future company will be struggling to pay its liabilities. Poor cash management indicates poor cost controls, inefficient management of resources and poor decision making by the management. High gearing: It is observed in the financial statements of the company that debt in 2008 have increased as compared to the 2007. There is 30.7% increase in debt which means company is relying more on debts than other cheap financing sources like equity and internally generated profits. High debts can result in less profits, compulsory interest payments, loss of investors trust and eventually loss of control because of collaterals. Competitors: Group is operating in highly competitive environment where it faces competition from global companies which have more resources than the group. Competitors like, EADS, Goodrich Corporation, GE Healthcare, Flowserve Corporation, L-3 Communications Holdings, Inc., 3M Company, Anaren, Inc., Amphenol Corporation and many more are well establish businesses. Thus in such an environment it is challenging for Smiths to survive and compete on prices. (O)pportunities Acquisitions: Group has acquired much well established business and it has given more opportunities to gain competitive advantages, access to, new technologies, and new markets, large number of customers and diversification to manage risks. Increasing product demands like, for detection and medical equipment: US medical market has an evidence of growth over the past few years and it is estimated that this trend will continue in future. Thus group has potential of growth in this market. Increased demand in tourism industry has resulted in much stronger rebound of air traffic in recent years than evidenced previously. Thus there is big potential for group to expend in this market and in all other product markets as well. (Smiths confident that growth will continue Massy-Beresford, Helen, Flight International; 3/22/2005, Vol. 167 Issue 4977, p26-26, 1/4p) (T)hreats Global economic recession: According to the IMF reports world economy will be in recession for next two years and this recession will have negative impact on global companies. Highly competitive industry: It will be difficult for company to increase profitability in such an intense competitive environment. (http://www.imf.org/external/pubs/ft/survey/so/2009/res070809a.htm) Financial analysis: Profitability: Profitability ratios can be used by investors to evaluate company is generating enough profits or not. Management can use these ratios to evaluate whether controls are efficiently working and company achieving will be able to achieve long term sustainable profits or not. (ACCA F9, 2010) Return on capital employed (ROCE): ROCE is a profitability ratio which describes relationship between operating profits and capital employed. Capital employed includes debt and equity financing. ROCE of the company is increasing over the last three years. And company is generating more returns by using available sources of finance. ROCE in 2009 is 19.73% and for 2008 it is 17.98% which is 1.74% higher than the last year. There was 7.84% ROCE in Y/E 2006 but later on company has managed to increase return. ROCE can be further explained by calculating net profit margin and asset turnover. (ACCA F9, 2010) Net Profit Margin (NPM): Net profit margin shows the relationship between operating profits and sales. NPM of Y/E2009 is 15.94% which is 0.28 % higher than the last year 15.66% in Y/E 2008. Over the last five years NPM is increasing but increase is not significant. It may be because of poor controls on direct and indirect costs and high competitive environment. Company may be struggling to compete on price due to competitors actions. Asset Turnover (AT): Asset turnover shows relationship between sales and capital employed. AT shows how efficiently noncurrent assets of company has been utilized over the past years. Company AT in 2009 is 0.09 times higher than the last year and there is not much difference between AT over the last five years. Company noncurrent assets are losing their efficiency and they might need replacements in near future. Gross Profit Margin (GPM): GPM shows relation between gross profit and turnover. GPM is stable over the last five years. This shows that company have good control on direct costs (material, labor and production overheads). (ACCA F9, 2010) Liquidity Ratios: Liquidity ratios show the liquid (cash) resources condition of the business. These ratios explain the ability of company to pay its current liabilities and expenses. (ACCA F5, 2010) Current Ratio (CR): Current ratio explains relation between current assets and current liabilities. Group CR is below than standard CR of 2. Over the last five years company CR is consistent. Company has to fewer current assets as compared to the current liabilities. (ACCA F5, 2010) Quick Ratio (QR): Quick ratio shows the relation between liquid current assets and current liabilities. Group QR is less than standard 1 time. Company has less liquid assets available as compared to the current liabilities. If this trend continues company will be struggling to pay its current liabilities and eventually group can face cash flow problems. (ACCA F5, 2010) Working Capital Ratios: Working capital ratios explain the cash management of the business. It includes further three ratios. Inventory Days (ID): Inventory days of the group are gradually increasing which means group is losing its control over the inventory. Company is keeping inventory for longer period and this trend is increasing every year. Group has to incur extra cost like holding cost in holding inventory for long and if inventory take longer to sale it will result in loss of value. (ACCA F5, 2010) Accounts Payable Days (APD): APD of the group is reducing as comparison to the last five years. If company is paying to their suppliers earlier it will loss cash and eventually will be difficult for company to manage cash flows. If group delay its payments to the suppliers it can use same cash for other purposes and thus can have a benefit of interest free loan. (ACCA F5, 2010) Accounts Receivable Days (ARD): Accounts receivable days shows the time period taken by the receivables to pay organisation. TRD have increased over the last few years and thus group is struggling to get money back from their customers. (ACCA F5, 2010) Solvency Ratios: Financial Gearing: Group long term debts have increased over the last five years. In Y/E 2009 long term debts of the company were 752.2 million which is 31.5 million higher than the Y/E 2008. Group is relying more on debts as compared to the share capital thus group is exposed to high risks. Group is highly geared and investors will lose their interest in investing in to the organization. (ACCA F5, 2010) Interest Cover (IC): IC shows comparison between operating profits and interest charge. Company profits are increasing over the last five year. Company ability to pay interest is increasing over the last few years. Price Earnings Ratio (P/E ratio): P/E ratio can be used to explain the relation between share price and profits. This ratio helps investors to identify whether the company is achieving their aim of maximization of wealth and growth of their wealth. P/E ratio of the company is 4.352 times in Y/E 2009 and is 5.595times in Y/E 2008. If this trend continues investors will lose their interest in group and group will suffer to get equity financing. (ACCA F5, 2010) Earnings per Share (EPS): EPS is the measure of amount of dividend (portion of profit distributed among share holders) available to the share holders. As compared to 2008 company EPS has increased by 1 penny. On average group EPS remain at same level this indication that company is giving regular dividend to its share holders. (ACCA F5, 2010) Share Price: Share price is very sensitive information for shareholders and little variation in share price will change investors choice of investment. There are many factors which affect share price like speculations, company performance, forecasts, company future perspectives, market trends and many more. Group share price variations over the last five years can be seen in appendices. Share price trend shows company share price is coming back to peak as it was in 2008. Group share price fell to the lowest price in May 2009. Group has significant impact of economic recession on its share price. This shows lack of investors trust in stocks market as there was high risk in market due to recession. In 2010 group share price revive and reaches to its maximum, which shows investor still trust group and are willing to invest into company. (ACCA F9, 2010) Appendices: Appendix 1 Smiths Group History: (from 1983 till 2008) In 1983 company ceased production of direct supplies of original equipment to European motor industry. Company sold vehicle heater business to a subsidiary of Hanson Trust in same year (1983). Company also stops operations of mechanical clocks in 1984. At that time (1984) company was operating under three groups industrial; medical systems; and defense and aerospace. In 1987 company acquire US avionics business of Laer Siegler Holidings. Company acquire Graseby which was involved in defense related equipments for biological and chemical detection in 1997. Strategic Technology Systems, a supplier of health and usage monitor systems was acquired in 1999. In 2000 company acquired the BAE systems, Marconi actuation systems and an aerospace division of Invensys. In the same year (2000) company purchased Fairchild Dynamics from Orbital Sience and merged with TI Group and was named as Smiths Group. Group made acquisition of Barringer Technologies, Point- Lok Needle Protection Device from Griff Industries, Summitek Instruments and Bivona Medical Technologies. In late 2001 group sold its vacuum and pressure businesses to BOC Edeards. In mid 2002 group sold its Jhon Crane-Lips marine business to Wartsila of Finland. In 2002 company also acquire Heimann Systems in 2002. Group sold its air movement and cable management businesses by the end of 2002 to HSBC private equity. In mid 2003 group announced to form a new division including Smiths Heimann and Smiths Detection to supply services to detection market. Company streamlined its medical division to for Smiths Medical in same year (2003). Company sells Matzen Timm(international aeronautical industry) to Masterflex and also sell its polymer business to Trelleborg. Company made a contract with Boeing to supply wind pylons for 20 years in the end of 2003. Cyrano Sciences was acquired by Smiths Detection in 2004. Dynamic Gunver Technologies (aerospace business) was acquired by the group for $102 million, in 2004. SensIR Technologies, a manufacturers of infrared based analysers for $75 million. TRAK communications was later acquired in 2004 for $111.5 million and strengthened its interconnect business. A respiratory care device company was acquired in 2004 by Smiths Medical. John Crane acquired Tianjin Timing Seals in 2004 to strengthened its presence in China. The group acquired Farran Technology and strengthened its detection activities, in 2005. In the same year, it acquired Medex, a medical devices company for $925 million. Later in the year, the group acquired ETI Technology, a US bio-technology detection company. Also in 2005, Smiths Group announced that Flexible Technologies business of the specialty engineering division had purchased Hi-Tech Hose in Massachusetts for  £9 million and Farnam Custom Products in North Carolina for  £3.5 million. During the same year, the company acquired Millitech, a millimetre wave and antenna company in the US, for $33.5 million. Later in 2005, it acquired LiveWave for $17.6 million and extended its detection technology range. In 2006, Smiths Group expanded its interconnect business by acquiring the business and assets of Lorch Microwave for $25 million.The group entered into a contract with Shanghai Pudong International Airport to supply x-ray systems, in the same year. Later in the year, the group established engine components facility in North Carolina. Also, the detection division established a new production facility, Smiths Heimann Rus, in St Petersburg, Russia. Also in 2006, the group partnered with Boeing for GoldCare service solution for Boeing 787 dreamliner operators. During the same year, the group launched Tadar, a new people screening system. During 2006, the aerospace division of the group teamed up with BAE Systems to develop an Unmanned Air Vehicle (UAV) technology demonstrator project called Taranis. During the same month, Smiths group entered into $60 million agreement with General Electric on F404 engine. Later in 2006, Dowty Propellers, a business of the aerospace division, entered into a long term propeller support agreement with Flybe Airlines for the Dash 8 Q400 passenger aircraft fleet. Smiths Group announced the acquisition of CDI Energy Services (CDI) in 2007. In the same year, the group sold its aerospace businesses to General Electric. Later in the year, Smiths Detection secured ten year BAA deal to revolutionise UK passenger checkpoints. Deal includes deployment of aTiX, the checkpoint X-ray machine that can automatically detect explosives and liquids. Also, in Russia and Dubai, Smiths Detection gained significant orders worth over $150 million in the transportation and ports border markets. During 2007, Smiths interconnect, part of Smiths Group, announced that four of its businesses, Hypertac, TRAK Microwave Systems, PolyPhaser and Millitech were awarded contracts with a total potential value of over $90 million. In the same year, Smiths Group acquired Sartorius Bearing Technology (SBT), part of Sartorius. SBT is a leading provider of high performance rotating equipment for the oil and gas industry based in Gottingen, Germany. Later in 2007, Smiths Group sold its Marine In March 2008, Smiths Group received 510(k) clearance from the US Food and Drug Administration (FDA) for a new portable medication delivery system that would make pain management simpler and safer for patients and clinicians. After one month, Smiths Group announced the acquisition of Indufil BV, a Dutch-based specialist in filters for the petrochemical and process industries. Smiths Medical announced it would promote and distribute Abbotts FreeStyle Navigator Continuous Glucose Monitoring System in April 2008. In May 2008, Smiths Group announced the purchase of Allrizon Tongguang, a Shanghai-based communications equipment firm. In the same month, the group announced completion of its acquisition of Fiber Composite (Fiberod), a Texas-based company, specialist in oil and gas lifting equipment. (http://web.ebscohost.com/ehost/results) Appendix 2 Smiths Group Competitors List: Anaren, Inc. Amphenol Corporation American Technology Corporation B. Braun Medical Inc Becton, Dickinson and Co. Cobham plc Covidien Ltd. Cardinal Health, Inc. Cameron International Corporation Emerson Electric Co. General Electric Company GE Security, Inc. Hitachi, Ltd. Hart Cooley, Inc. Hospira, Inc. Moog Inc. Medtronic, Inc. Nutech Inc. NORRIS MEDIC Omega Flex, Inc. Pall Corporation Quinn Group, Inc. Radiall SA Rapiscan Systems, Inc. Siemens AG Teleflex Incorporated Tyco International Ltd. United Technologies Corporation Universal Potash Corp Vital Signs, Inc. Weatherford International Ltd. Watlow Electric Manufacturing Company (http://web.ebscohost.com/ehost/results) Appendix 3: Ratios Analysis: Y/E 07/31/09 Y/E 07/31/08 Y/E 07/31/07 Y/E 07/31/06 Y/E 07/31/05 Profitability ROCE=PBIT/CE*100 424.80/(3011.3)*100=19.727% 17.98 17.015 7.848 14.783 NPM 424.8/2664.6*100=15.942% 15.66 14.545 5.447 11.86 AT 2664.6/(1541.5-858)=1.24 times 1.15 1.17 1.37 1.25 GPM 1217.1/2664.6*100=45.68% 45.48 46.36 40.07 38.37 Liquidity Current Ratio 1099.6/858=1.28 Times 1.33 1.21 1.28 1.32 Quick Ratio (1099.6-413.6)/858=0.799 Times 0.86 0.824 0.781 0.77 Working Capital Inventory Days 413.6/1330.1*365=113 days 117 107 102 120 Accounts Payable days 130.7/1330.1*365=35 days 48 55 46 45 Receivables Days 514.4/2664.6*365=70 days 83 75 69 82 Solvency Ratios Financial gearing 752.2/859*100=87.57% 78.68 62.78 63.27 77.83 Interest Cover 424.8/54.4=7.81 8.41 5.43 3.29 7.45 Dividend Cover 30.03 26.6 22.12 2.88 28.63 P/E Ratio 4.352 5.595 4.434 3.772 3.873 EPS 0.054 0.042 0.053 0.057 0.051 Appendix 4 Share price Movement (Adopted from http://ir1.euroinvestor.com/asp/IR/PrinterFriendly/PFOD2.aspx)