Wednesday, July 31, 2019

Turkey’s Retailing Sector Analysis

RETAILING INDUSTRY in terms of Food- Non Food * Sectorial Overview; Retailing is the business activity that involves selling products/services to customers for their non-commercial, individual or family use. Normally, retailing is the final stage of the distribution process. The middle and long term potential of Turkey retail industry continue remaining attractive. Companies in sector support the sectorial expansion with their expansion strategies, negative business administration fund and powerful cash creating capabilities.The defensive structure of sector and low penetration strengthen this situation. With the increase in consumer demand, rapid urbanization, increase in large scale retail investments the number of shopping malls in Turkey increased by more than 20% in the last two years. In the same period, the total surface rent area in Turkey increased by more than 30% and reached As it can be seen on the graph below; the total size of the retail sector (organized and unorganize d) in Turkey is expected to reach $355 billion in 2013 and grow with 10% until 2016. (See Figure 1 in Appendix)Organized retail, a highly promising segment due to increasing per capita consumer spending and relatively weaker presence up to now in comparison with developed markets, is estimated to be 40% of the total retail industry in Turkey. (See Figure 2 and Figure 3 in Appendix) * The share of organized retail continue increasing; The share of organized retail which has the level of %25 in the total retail market in 2000 exceeds the levels of %50 according to the 2013 predictions. Turkey organized retail market achieve an impressive growth in last 10 years.It is anticipated that the share of organized retailers increase from the level %47 to the level %60 in upcoming 5 years. It is anticipated that the share of organized retail increases to the level of %60 till 2015. While the food retail segment constitute more than half of total retail market, traditional structure such as loc al markets and groceries still dominates the market. It is expected that approximate number of 10. 000 organized retail store will be twofold in 5-6 years. Besides, it is predicted that the number of groceries will be regress from 150. 00 to 100. 000 at the same period. Turkey, with its 105 milliard dollars sales figure, is located in 6th line in Europe retail sector. Nevertheless, while the total share of 5 biggest players in Europe is approximately %50, it is %20 in Turkey. Organized Retail Sector is the fastest expanding canal discount merchandising. It is expected that the number of approximately 6. 000 discount stores in Turkey will be twofold in upcoming 4 or 5 years. With the support of increase in the income per capita, %12 growth is anticipated in retail sector between 2009 and 2015.The discount store chain in Turkey (such as A101, SOK, BIM, DIASA) have a very fast growth schedules. BIM is placed in the first row in discount merchandising with its large store quantity. The company is planning to open 300 or 350 new stores every year. The fast increase in store quantities supports scale economy and companies are able to pull down their sale prices thanks to the decline in costs. With the effect of increasing competition in sector, it is expected that the growth accelerate with purchasing in forthcoming years. Despite the high competition, the retail sector is enlarging expeditiously; 6 major organized food retailing brand constitute %37 of total market in spite of divided structure. It is expected that it will be inorganic growth, merchandising and reunions, thus the companies will achieve more competitive charges by increasing their purchasing power in 2013 and later on with the intensity of competition. 2 Major Retailing Companies in the Sector; MIGROS vs BIM BIM and MIGROS which are the prominent players of Turkey food retail sector, are analyzed in this assignment in terms of their financial analysis.In retailing sector, these 2 companies have a gr eat effect and they are known as most powerful competitors with their shares all over the industry. Migros has 6% and BIM has 9% industry shares. (See Figure 4 in the Appendix) 1) BIM BIM (Birlesik Magazalar A. S. ) adopts as a principle the supply of the highest quality basic foodstuff to consumers, at the best possible prices. BIM began its operations in 1995 with 21 stores and in line with this principle. BIM’s product portfolio comprises around 600 products. 44. 12% of BIM shares started to be traded in Istanbul Stock Exchange in 15 July 2005.BIM is the first representative of high level discount model in Turkey and the company got in stock market return for its rapid growth. While BIM finishes its 7th year in stock market, it became the 12th company that has highest market value of Turkey. * Board of Directors Mustafa Latif TopbasChairman of the Executive Committee Ekrem PakdemirliVice Chairman of the Board Mahmud MeraliBoard member and has chaired the Audit Committee Jo s SimonsBoard member and consultant. Omer Hulusi TopbasBoard member. Yalc? n OnerBoard member. Dr. Zeki Ziya SozenBoard member. Turnover doubled to six; The rapid growth of the company had an effect on the rise of BIM , whose capital’s 17,43 per cent belongs to Mustafa Latif Topbas, in stock market. (See Table 1; Structure of BIM’s Shareholders) BIM ‘s sales revenues were 1. 4 billion TL . In the end of 2011, this revenues reached to 8. 2 billion TL. Also, the personnel number of the company increased approximately 3 times in 7 years. In the end of 2010, BIM became the endorsement leader with 6. 5 billion TL in the retailing sector of Turkey and it maintained this position in 2011.As abroad, while the company increases the number of stores in Morocco, aims Egypt for the next year. This year, BIM also started to operate in mobile communication industry with the name of BIMCELL. * Growth Strategy; Aggressive Growth among the competitor companies that strength After 11% increase in number of stores in 2011, with the number of 3. 584 stores in 2012, BIM is the retailer that has the largest store network in Turkey. (See Figure 5; Number of Stores ) BIM plans to open 400 new stores in 2013 and reach 5. 500 stores in 2015.With the store numbers increases there also has been 14% increase in number of employees in the company in 2011. BIM has been expanding their business, operations in every part. (See Figure 6; Number of Employees) These increases in operation side lead to an increase in number of average daily customers with 14% in 2011. (See Figure 7; Average number of Daily Customers) Of course with these changes, company carried out a 25 percent net sales increase over the industry average in 2011 and 2012. (See Figure 8; Sales and Gross Profit Margin) It is estimated that a sales increase over 20 per cent in 2013.Depending on this net sales growth, Company’s net profit has been increased by 22% over the last three years. Due to the inc rease in net sales; margin values regarding net profit, gross profit, EBIT, EBITDA have been decreased over 3 years. (See Figure 9; Net Profit and Net Profit Margin) With the effect of net sales increase, EBIT has been increased to 347,5 in 2011 ( See Figure 10; EBIT and EBIT margin) These was a 19%increase in company’s EBITDA and this means that there is an increase in amortization so we can say that company increased their asset purchases as we can see on the related figure. See Figure 11; EBITDA and EBITDA margin) * 18 times has been increased in 7 years; BIM began to be traded with 672. 9 million TL of market value in July, 2005. The value of the company increased approximately 18 times in 7 years based on TL. The increase in BIM stocks since the first trading day was 1. 861 per cent. As a result of its rapid growth, BIM’s market value is the over of the Erdemir, Arcelik, Ford Otosan, Finansbank and Vak? fbank in addition to Tupras that is the Turkey's largest indu strial enterprise and refinery giant.Also, BIM has paid its shareholders a total dividend of 700 million TL in the period of 7 years in the stock market. (See Figure 12; BIM Dividend Payment over the last 5 years). As the company’s profit increased dividend payments are increased also. There has been a positive relationship between them. This is a very good indicator for the company’s investors who already invested in BIM’s shares and who are planning to invest. Also as a result of the increase in BIM’s stock prices and stock revenues; value of the company also increased. So, this situation put the company's principal shareholder, Mustafa Latif Topbas, to the Forbes list. On the other hand, for each stock BIM has really high returns and it brings some important risks also for the investors. (See Figure 13; IMKB 100 vs. BIM Stocks) When we compare the situation of BIM’s stocks in Imkb 100 with stocks of MIGROS, BIM has a higher return, profit for th e investors and because the returns and prices of BIM higher than IMKB 100 and because there is a really important difference between the line according to Figure, BIM’s stocks are also operated and valued in IMKB 30. Why is it rising? * The rapid growth in the number of stores and endorsement. * The high capacity of dividend payment.. * Increasing profitability of the company every year. * To expand abroad with Morocco. * To bring new revenues with BIMCELL. *3/4 of the shares in stock market is belonged to foreigners. * Growth Targets in Egypt after Morocco: BIM will open stores in Egypt by 2013. The company estimates that the growth in Egypt will be faster compared to the growth in Morocco. Recently, BIM operates in Morocco with 103 stores.And the company plans to open 50 new stores in Egypt every year after 2013. 2)MIGROS Originally established in Turkey in 1954 as a collaboration of the Swiss-based Migros Cooperatives Society and the Istanbul municipality, Migros’s primary mission was to supply economically priced groceries and household supplies to consumers in Istanbul under wholesome conditions. In 1975 the Koc Group acquired a majority stake in the company, following which there was a steady increase in both number of its stores and its brand value for more than a decade.In 1991, Migros became the first publicly traded company in retail. Following a Koc Group strategic decision to pull out of grocery retailing, in February 2008 Koc Holding signed an agreement to sell its 50. 83% stake in Migros to Moonlight Perakendecilik. Transfer of the shares took place on May 30th of the same year. On 30 April 2009, Moonlight Perakendecilik (now known as Migros Ticaret A. S. ) and Migros Turk T. A. S. were merged into a single company which has since been operating under the name â€Å"Migros Ticaret † and whose principal shareholder is MH Perakendecilik ve Ticaret A. S.In 2005 Migros further bolstered its leadership of Turkey’s food ret ailing sector with its acquisition of Tansas, another national chain As of end-2011 Migros was operating through a total of 745 national and international locations. With a national presence in all seven of Turkey’s geographical regions taking the form of 262 â€Å"M†, 190 â€Å"MM†, 59 â€Å"MMM†, and 16 â€Å"5M† Migros-branded stores and of 177 â€Å"Tansas† and 13 â€Å"Macrocenter† stores, its international footprint consisted of 23 Ramstores in Kazakhstan and another 5 in Macedonia. ( See Figure 14,15 ; Breakdown of Net Sales Area by Store Brands of MH Group) Distribution of Dividend According to latest data from the company’s official web-site, at the company’s Annual General Meeting held on May 20, 2010, it was decided to distribute a gross cash dividend of TL 195,833,000 to the shares representing TL 178,030,000 capital and the dividend disbursement is to start on May 28, 2010. On July 30th, 2009, it was decided to distribute the dividend of the free reserves after setting aside the reserves required by law to the share certificates representing the capital of TRY 178,030,000 and to use TRY 2,492,420,000 from this source for the distribution of gross cash dividends. See Table 2; Structure of Migros’s Shareholders) * Growth Strategy: The company increased its total store number to 745 in 2011. (See Table 3) and 2012, they increased the stores to 874 by opening 142 new stores. The company is planning to open 100 new stores in 2013. It is expected that the company will maintain rapid growth and increasing operation profitability in 2013 by focusing on its main operations. In addition to this, in 2013, it is estimated that the company will have 13% sales growth in year basis and 6. 4% EBITDA margin. * The positive effect of selling of â€Å"SOK† on Profitability.After selling SOK Discount Stores, thanks to high margins of supermarket segment and improvements in operational manage ment and supply chain, Migros’s EBITDA margin increased in 2011. It increased from 5. 7% in 2011 to 6. 5% in 2011. While Migros leave the channel of low margin discount retailing that is in intense competition, it will increase its penetration in supermarket segment that it is the leader in. In the medium term, 6. 0%- 6. 5% is the sustainable margin level. It is expected that sale, partnership and the reunion debates of Migros and CarrefourSa in 2013 will close the sale after getting purchased the food by Makro. BC Partners’ expectation of selling the share of Migros, BC Partners (MH Retailing) which is %80,5 shareholder of Migros is a private equity company centered in London. In spite of the fact that it is expected that BC Partners will sell their quantum of Migros in between 2013-2014, there is no explanation about the time period. It is thought that, despite the aggressive growth strategies of Migros continue, the quantum sale in 2013 is highly possible. In the ca se of selling deal, it is possible to be made a call for minor shareholders. * Company’s Stock Returns in IMKB 100When we compare the Migros Stock Returns we can say that, the prices of each stocks are less than BIM’s stocks and their returns are above the IMKB 100 line. This situation makes company’s stocks profitable but at the same time it may mean a high risk for the investors ( See Figure 17; IMKB 100 vs. MIGROS Stocks) Analysis of Financial Ratios of BIM & MIGROS (See Tables 4,5,6) 1) Liquidity Ratios Current Ratio: This ratio is commonly used as an index for current financial position and used for measuring company’s ability to pay short-term debts and determining the company’s net working capital if it is enough or not.Generally it is expected to be 2,00. The ratio of 1 is also acceptable. When we look at both companies both of them may have some difficulties to pay their short-term liabilities. For the firms which has a high level of inven tory turnover ratio and receivable turnover ratio like Bim, they are able to pay their short-term debts easily. Quick Ratio: It is a more sensitive ratios than current ratio. It shows us the ability of firms to pay their short-term liabilities when they have no sales growth, when their sales stops. It is expected to be 1. The ratios of both firms are less than deal number so receivable accounts and cash cover short term liabilities and their abilities to pay are not good but at least both firms’ ratios are higher than industry ratio and this brings these 2 companies in a better position in terms of short-term debts. Cash Ratio: It is most sensitive liquidity ratio. Generally, this ratio is not expected to be under 0. 20. As both firms cash ratios are higher than industry ratio, it won’t difficulties for paying their debts in the condition of lack of sales and getting their receivables. Additionally, company is holding more cash than needed.Net Working Capital: If the v alue of networking capital is minus, this means company’s current liabilities are more than current assets. This is the main reason for the company which finance its current assets with current liabilities. This is the case for BIM. We can say that company might have done current assest investments. We can say that BIM has some problems in terms of liquidity. Migros has positive networking capital and it has no liquidity problem. 2) Leverage Ratios Total Debt Ratio: This ratio is expected to be under 50%. With 0. 64, 0. 63 and 0. 64 ratios according to three years, BIM has higher values than this ideal ratio.When we look at industry ratio, it is 2,00. This ratio tells us, foreign resources are used for financing assets by the rate of 0. 64. It shows that BIM can pay its debts by selling assets when the operation stopped. This is the same for Migros expect the year 2010. It has a very high ratio, even higher than the industry level which is 2,41. Debt to Equity Ratio: This rat io can be equal to 1 or higher than 1. If it is higher than 1, it means difficulties in paying debts and interests or if it is lower than 1, it means company finance their assets by using its equities. The industry ratio is 1. 3. By looking Migros’s DTE ratios, they mostly finance their assets by using their equities instead of using foreign resources and they will have no difficulties while paying their debts, liabilities in the future. But when we compare it with the industry which is almost 1, Migros will have less advantage in any crisis condition. In this case, Bim has a more advantageous position than Migros because its ratios are closer to industry ratio and ideal ratio. Long Term Debt: It is a normal ratio 0. 12 – 0. 16 in Turkey. The industry ratio is 1. 03. Migros’s ratios are 0. 47, 0. 44, 0. 49 orderly.Bim’s ratios are 0. 01, 0. 01, 0. 01 orderly. If this ratio is high, this increases interest burden, decreases dividends and as a result, it ca uses not to cover debt burden. Migros prefers long-term foreign resources rather than using their equities. Long Term Debt to Equity: Ideal ratio is 1. Migros’s ratios are 0. 64, 1. 85, 2. 26. Bim’s ratios are 0. 04, 0. 03, 0. 03 orderly. The industry ratio is 0. 84. For Bim with these ratios that are less than 1, it means that Bim’s equity is more than long term debts. It is valid for these three years. Times Interest Earned: This ratio should be more than 8.Higher value of times interest earned ratio is favorable meaning greater ability of a business to repay its interest and debt. Lower values are unfavorable. That means if a company cannot repay its interest and debt it may become in a difficult situation even it may go bankrupt. In general, times interest earned of 1. 5 or below is unsafe. 3) Efficiency Ratios Receivable Turnover: If a company has a low receivable turnover it means, that company has some important difficulties to collect their receivables a nd the collection policy of that company is not so good and this means that they are unnecessarily relax about sales on credit.When we compare Bim and Migros, Bim is a better position for collecting its receivables in a quicker way. Its ratios are even less than industry ratio. When we compare Bim with Migros, Bim really has a strong ability to get their sales and receivables and their portfolios include low-risk and trustful customers Average Collection Period: It can also be evaluated by comparison with the terms on which the firm sells its goods. For Bim, with the high value of this ratio, it may not have the ability to finance its own debts because of long-term collection.Migros has a shorter average collection period Inventory Turnover: It is the most important ratio in retailing sector and it measures company's efficiency in turning its inventory into sales. Its purpose is to measure the liquidity of the inventory. Migros has ratios 7. 43, 8. 52, 8. 47 orderly and Bim has rati os 16. 98, 19. 56, 20. 23. Industry average is 10. 61. Migros’s ratios are less than Bim’s and industry’s ratios so this is a signal signal of inefficiency, since inventory usually has a rate of return of zero. It also implies either poor sales or excess inventory.For Migros low turnover rate can indicate poor liquidity, possible overstocking, and obsolescence, but it may also reflect a planned inventory build up in the case of material shortages or in anticipation of rapidly rising prices. Bim has highest inventory turnover ratios over Migros and industry. It means that Bim is really strong in terms of sales and at the same time very effective to control its inventories. Its higher inventory turnover ratio also means better liquidity. Also its efficiency in managing their stocks were increased, their stocks are becoming sales revenues in a short time and their stock costs were decreased year by year.With this positive development, it has less financial resource s for their stocks as necessities and their competition force has increased by this activity. Average Days in Inventory: Generally, the lower (shorter) the DSI the better. Bim has lower Average Days in Inventory than Migros and industry. This means, Bim is doing good in the sector and it has a good position in industry competition. This is an indicator of good operating cycle of Bim. In this case, Migros is in a worse situation. Asset Turnover: Bim has higher asset turnover ratio than Migros and industry and it shows us Bim has much more effective sales than Migros.It is more successful than Migros in order to generate sales with fewer assets it has a higher turnover ratio which tells it is a good company because it is using its assets efficiently. Migros is not using its assets optimally. Total asset turnover ratio is a key driver of return on equity 4) Profitability Ratios A company’s stock price, in large part, is driven by the company’s ability to generate earnings . Therefore, it is useful for investors to analyze the profitability of a company before investing in it. One way to do this is by calculating and tracking various profit margins, which reflect how efficiently a company uses its resources.Gross Profit Margin: Due to higher sales volume of Bim, Bim has lower gross profit margin than both Migros and the industry and it means Profit Margin: It tells us about company’s profits and their different kinds of policies, strategies and decisions. When we look at Bim’s profit margins over the 3 years they are higher than Migros’s profit margin values and the industry average. It is the most advantageous one. Bim has a better position than Migros in the industry. It has a competitive advantage over Miigros. ROA: It shows us at what amount companies get returns from their investments.Bim has higher ROA than Migros and industry over 3 years. It has become really effective to use their assets in a profitable way. For Migros, i n 2011 the ratio became a minus value this means Migros lost its asset profitability and started to not to get any profit from their assets. ROE: Stockholders invest to get a return on their money, and this ratio tells how well they are doing in an accounting sense. It measures the performance of companies’ equities. Again for this ratio, Bim has a much better position. It has higher ratio than Migros and industry. But on the other hand, there has been a small ROE reduction for Bim over 3 years.For example in 2011, ROE is 0. 48 and this means that owners of Bim could get 10% income from their equity that they invest for Bim. Operating Profit Margin: With a higher ratio of Bim, it is more successful in generating from operating its business. It is more important than net profit margin because it measures the profit margin which companies gain from goods and services sales in companies’ main activity subjects. This ratio is higher than industry ratios which is really imp ortant especially for Bim’s investors. APPENDIX Figure 1 Figure 2 Figure 3 Figure 4 Table 1: Structure of BIM’s ShareholdersTable 2; Structure of Migros’s Shareholders Figure 5 Figure 6 Figure 7 Figure 8 Figure 9 Figure 10 Figure 11 Figure 12 Figure 13 Table 3; # of National and International Stores, Net Sales Area Figure 14 Figure 15 Figure 16 Figure 17 Table 4: Financial Ratios of Migros | 2009| 2010| 2011| 2010| | Migros| Migros| Migros| Industry| LEVERAGE RATIOS| Debt to equity| 2. 76| 3. 13| 3. 58| 1. 03| Total debt ratio| 0. 73| 2. 41| 0. 78| 2. 00| Long Term debt ratio| 0. 47| 0. 44| 0. 49| 0. 22| Long-term debt to equity ratio| 0. 64| 1. 85| 2. 26| 0. 84| Times Interest Earned| 1. 54| 1. 28| 1. 43| 22. 35|LIQUIDITY RATIOS| Current ratio| 1. 34| 1. 01| 1. 13| 0. 82| Quick ratio| 0. 94| 0. 58| 0. 70| 0. 45| Cash Ratios| 0. 88| 0. 55| 0. 66| 0. 32| Net Working Capital| 497,628| 27,363| 218,876| -31,682,086| EFFICIENCY RATIOS| Total asset turnover| 1. 01| 1. 14| 1. 04| 2. 08| Inventory turnover | 7. 34| 8. 52| 8. 47| 10. 61| Receivable turnover| 150. 11| 127. 5| 85. 64| 66. 25| Average collection period| 2. 43| 2. 86| 4. 26| 8. 80| Average days in Inventory| 49. 72| 42. 84| 43. 09| 38. 61| PROFITABILITY RATIOS| Gross profit margin| 0. 25| 0. 24| 0. 25| 0. 22| Net profit margin| 0. 01| 0. 006| -0. 02| 0. 02| Operating Profit Margin| 0. 01| 0. 03| 0. 04| 0. 01| Return on Asset| 0. 01| 0. 00| -0. 02| 0. 03| Return on Equity| 0. 07| 0. 03| -0. 13| 0. 11| Table 5:Financial Ratios of Bim | 2009| 2010| 2011| 2010| | Bim| Bim| Bim| Industry| LEVERAGE RATIOS| Debt to equity| 1. 83| 1. 74| 1. 81| 1. 03| Total debt ratio| 0. 64| 0. 63| 0. 64| 2. 00| Long-term debt ratio| 0. 01| 0. 01| 0. 01| 0. 22| Long-term debt to equity ratio| 0. 04| 0. 03| 0. 03| 0. 84| Times Interest Earned| 156. 8| 83. 67| 140. 6| 22. 35| LIQUIDITY RATIOS| Current ratio| 0. 88| 0. 95| 0. 98| 0. 82| Quick ratio| 0. 51| 0. 56| 0. 61| 0. 5| Cash Ratios| 0. 24| 0. 33| 0. 36| 0. 32| Net Working Capital| -80,986| -38,285| -18,386| -31,682,086| EFFICIENCY RATIOS| Total asset turnover| 4. 84| 4. 79| 4. 72| 2. 08| Inventory turnover | 16. 98| 19. 56| 20. 23| 10. 61| Receivable turnover| 32. 99| 34. 15| 30. 21| 66. 25| Average collection period| 11. 06| 10. 68| 12. 08| 8. 80| Average days in Inventory| 21. 4| 18. 66| 18. 04| 38. 61| PROFITABILITY RATIOS| Gross profit margin| 0. 17| 0. 16| 0. 16| 0. 22| Net profit margin| 0. 04| 0. 037| 0. 037| 0. 002| Operating Margin| 0. 04| 0. 04| 0. 04| 0. 01| Return on Asset| 0. 19| 0. 17| 0. 17| 0. 3| Return on Equity| 0. 54| 0. 49| 0. 48| 0. 11| Table 6: Financial ratios of Tesco Kipa, Carrefoursa, Migros, Bim, Industry, in 2010 2010| | Bim| Migros| Carrefoursa| Tesco Kipa| Industry| LEVERAGE RATIOS| Total Debt ratio| 0. 63| 2. 41| 0. 41| 0. 70| 1. 03| Debt to equity| 1. 74| 3. 13| 0. 71| 2. 43| 2. 00| Long-term debt ratio| 0. 01| 0. 44| 0. 02| 0. 42| 0. 22| Long-term debt equity ratio| 0. 03| 1. 85| 0. 04| 1. 45| 0. 84| Times interest earned| 84. 6| 1. 28| 1. 54| 2. 00| 22. 35| LIQUIDITY RATIOS| Net working capital| -38,285| 27,363| -126,853,307| 178,586| -31,682,086| Current ratio| 0. 8| 1. 01| 0. 81| 0. 59| 0. 82| Quick ratio| 0. 51| 0. 58| 0. 53| 0. 20| 0. 45| Cash Ratios| 0. 24| 0. 55| 0. 36| 0. 16| 0. 32| EFFICIENCY RATIOS| Total asset turnover| 4. 84| 1. 14| 1. 42| 0. 95| 2. 08| Inventory turnover | 16. 98| 8. 52| 10. 3| 6. 65| 10. 61| Receivable turnover| 32. 99| 127. 5| 21. 5| 83. 04| 66. 25| Average collection period| 11. 06| 2. 86| 16. 9| 4. 39| 8. 80| Average Days in Inventory| 21. 4| 42. 84| 35. 4| 54. 8| 38. 61| PROFITABILITY RATIOS| Gross profit margin| 0. 17| 0. 24| 0. 22| 0. 27| 0. 22| Net profit margin| 0. 04| 0. 006| -. 008| -0. 03| 0. 002| Operating Margin| 0. 4| 0. 03| -0. 005| -0. 002| 0. 01| Return on Asset| 0. 19| 0. 00| -0. 011| -0. 03| 0. 03| Return on Equity| 0. 54| 0. 03| -0. 02| -0. 11| 0. 11| | | REFERENCES * http://www. bim. com. tr/yatirimci-iliskileri. html * http:// www. migroskurumsal. com/Foreks. aspx? IcerikID=35 * http://tesco. kipa. com. tr/default. asp * http://www. carrefour. com. tr/Kurumsal/finansalsonuclar;jsessionid=b3a0da5ff5e79ee039b023b24ca0 * http://www. ampd. org/ * http://www. capital. com. tr/perakende-AltKategoriler/48. aspx * http://www. aaii. com/computerized-investing/article/profit-margin-analysis. pdf

Tuesday, July 30, 2019

Gender Roles in America Essay

The distinction between the roles of men and women in America is a modern societal dichotomy. What were once the black and white duties of the 1950’s had paled into various shades of grey by the 21st century. The Ozzie and Harriet roles of the 1950’s and early 1960’s were challenged, redefined and sometimes ignored through the decades that followed. Women were demanding and being granted the opportunity to advance professional careers, explore alternative lifestyles, or forego the classic marriage family and be a single parent. In other cases the parenting roles were completely reversed as pointed out by Glenn Sacks in his essay Stay-at-Home Dads (277). During the 1950’s, traditional American society expected women to marry young, have children and support their husband’s career. There was a sort of stigma associated with the 30 year old spinster addressed with the title Miss. This position was reinforced with the social media of the time. Books like Dr. Spock’s, Babies and Child Care argued that women working outside the home actually risked their children’s mental and emotional health! The primary social media of the time, television and movies, also promoted the division of roles with actresses like Doris Day, Harriet Nelson and Barbara Billingsley playing the supportive wife and caring mother; while the likes of Ozzie Nelson, Hugh Beaumont and Cary Grant were the successful dominating male with the last word in all subjects. Men were expected to be a successful all knowing and authoritative figure, working the classic nine to five job. Those who did not fit this mold were considered by society as unmanly, lazy, failures, or just plain no-good. The only acceptable exception to this model of the male persona was the dashing consummate bachelor portrayed by actors such as John Wayne, William Shatner, and Sean Connery. Women had no such exception. The unmarried female of the time was usually portrayed as Gidget (Sandra Dee), Jeannie (Barbara Eden), Sister Bertrille (Sally Fields) or That Girl’s Anne Marie (Marlo Thomas). Over the course of the next few decades women made dramatic strides towards social equality. Bras were burned, the pill brought on sexual freedom and the no-fault clause in divorce helped free women from the repressive shackles placed on them by the male dominated societal norm. Slowly and somewhat grudgingly, society responded to the female pressures by accepting more and more crossover roles by both women and men. The social differences between he roles of men and women began to blur as less value was placed on the traditional and both sexes began to appear in the workplace in what had previously been opposite gender roles. Areas like engineering, construction and manufacturing saw a permanent influx of women; jobs held temporarily by females during the war years of 1941 to 1945. Concurrently, men began to gravitate towards roles as nurses, teachers, and homemakers. In spite of all the work towards equality and sameism (a word I coined to describe the merging of the gender roles) men are still primarily locked into the role of provider and modern women are painted into a corner; expected to do all the female things and most of the male things while still being athletic, sexy, willing, attractive and smart. According to author Steven Hinshaw, â€Å"Our teenage girls are baffled, distressed, and overwhelmed (by) a set of impossible, contradictory expectations† (301), a situation he terms as a triple bind. Conversely young men are now expected to be seen as strong, brave, successful, sensitive, insightful, supportive and totally accepting of the woman’s new role while still knowing when to open doors and pay for the movie tickets. As we now enter the second decade of the 21st Century, there is no shortage of women doing men’s jobs or vice-versa. The blending of traditional male-female roles has become the norm and the old-style well defined roles of breadwinner and housewife are all but extinct. There is however, a growing trend of the liberated woman moving back into the traditional role of homemaker as they age and decide that they have missed something and now wish to express their maternal feelings. Thus, although modern society fosters the acceptance of more gender neutral roles through education, training and non-discrimination laws it also emphasizes the traditional roles as the desired outcome. So we find ourselves faced with the blurry gray dichotomy of how to meet the politically correct demands of society and still meet the individual needs of the members of that society.

Monday, July 29, 2019

Recruitment, Training, and Compensation Research Paper

Recruitment, Training, and Compensation - Research Paper Example Currently, it is also involved in selling of varieties of pharmaceutical products as well as in extensive medical research & development activities in serving various divisions in the field of healthcare. The operations of the company currently comprises of three segments including consumer-packaged goods, medical devices and diagnostics as well as the pharmaceuticals in over 60 countries. Furthermore, in its recent status, there are around 128,000 employees working in the organization (Johnson & Johnson Services, Inc., 2013). Recruitment and Selection Strategies There are several components/steps of the J&J recruiting and selection strategy. This strategy was developed to facilitate multi-country operations. The components are discussed below. The first thing that must be accomplished is focus on facilitating temporary candidates with the aim to assist them in gaining adequate experiences in on-boarding processes conducted in the international circuits (Johnson & Johnson, 2013). Thi s shall further drive the employees towards progressing and attaining growth within the working environment of the organization. The program should also assist J&J in building strong internal connections with the virtues of multidimensional communication among leaders having global and regional experiences. The organization should also look forward to provide an opportunity for students who aspire to apply their skills and knowledge for the challenges assigned for the business of the organization. The second thing that must be accomplished is rendering a diverse set of employment growth opportunities to the potential candidates. J&J has been practicing its recruitment and selection strategies through the implementation of its International Recruitment and Development Program (IRDP). The company usually recruits eligible candidates from top business schools located in Europe and USA, with the assistance of recruiters placed locally. Interviews are placed for the candidates in the pri mary stage of the selection process. After the preliminary rounds of interview, the management at the top level is engaged in the process of selection of the most potential candidates in the next level of the recruitment process. It is worth mentioning in this contest that J&J perceives a pro-active role in the development of leaders in their necessary skills which is believed to help the organization in focusing on its values and mission deciphering greater effectiveness (Johnson & Johnson, 2013). Contextually, with its IRDP initiative, the company should also aim at rendering a diverse set of employment opportunities to individuals from MBA as well as from other graduate level students for incorporating permanent leadership growth in the organization. The third thing that must be accomplished is substantial effectiveness in its employee relations and management. It is in this context that with the recruitment and selection process as described above, J&J should focus on becoming m ore efficient in selecting employees from various cultures and therefore creating a diverse working environment to respond more effectively towards the demands and requirements of different consumer groups. Contextually, with the virtues of technological advancements and cross cultural sustainability, it shall become easier and quite encouraging for candidates to adapt to the working environment and continuously perform better owing to which, greater heights can be

Sunday, July 28, 2019

Importance of Individual difference in understanding behaviour at work Essay

Importance of Individual difference in understanding behaviour at work - Essay Example There are different models of intelligence which include the Vernon model which covers verbal and mechanical intelligence (Nairne 2010). The cattel model of intelligence covers the crystallized intelligence while the hierarchical model of intelligence covers numerous intelligent abilities like learning and memory intelligence, fluid intelligence, achievement, visual perception, crystallized intelligence and perceptual speed (Woods and West 2010). The individual personality is the pattern of thought, emotions and behaviors which are expressed a person. There are numerous theories which explain individual personality including the behavioral theories, psychoanalytic theories, social learning theories, trait theories and cognitive theories (McKenna 2000). This paper will discuss theories of psychology and the importance of individual differences in understanding behavior at work. The paper will also discuss how factors like personality, emotion and abilities influences the work experien ces such as interpersonal relations, stress, work attitudes and organizational processes. The paper will address ways of improving work processes in organizations. The big five model of personality considers five factors which are the agreeableness, extraversion, conscientiousness, emotional stability and openness which is also the intellect of the person (Woods and West 2010). The big five model explains the individual differences at work and the differences in their personality. The personality, cognitive capabilities and emotions at work will affect the level of job satisfaction and job performance since these factors influence the individual motivation in the work place. Work habits such as motivation and team work will also impact on the job performance (Nairne 2010). The job appraisal techniques, the team characteristics, organizational policies and occupational interests of the worker will also determine the level of job satisfaction and amount of commitment which the worker may be willing to devote in his duties (Woods and West 2010). Personality and intelligence theories are useful in understanding the differences in employee behavior in the workplace. They help in identifying the human qualities of the employee like the motivation, leadership styles and empathy (Nairne 2010). They help the management in appreciating the different strengths and weaknesses of employees in the organization. Personality and intelligent theories are also useful in many human resource functions like recruitment, selection and training of the employees (Woods and West 2010). Personality helps in the development of self-awareness and which is critical in enhancing good working relationships within groups in the organization. Personality theories help the management to assess the level of employee motivation and job satisfaction in the workplace (McKenna 2000). Personality theories are also crucial in allocation of tasks within the organization since some employees value team work while others prefer working independently (Woods and West 2010). Personality and intelligence theories are critical in assessing the effectiveness of the leadership styles in the organization since employees prefer various leadership styles from the supervisors (McKenna 2000). Some employees work well while under authoritative leadership or rule and procedure based leadership styles while others pref

Saturday, July 27, 2019

Plato's Allegory of the Cave Essay Example | Topics and Well Written Essays - 750 words

Plato's Allegory of the Cave - Essay Example He expresses a point unknown and less considered by many, that a philosopher could be zero in knowledge. Through the puzzle, the victim of such circumstances only discovers of such truths after a long time. Exposure, which happens to be less in the profession, uncovers such truths hence making it a puzzle that majority of the philosophers are ignorant and hide behind the veil of ignorance. The claim that Socrates makes to be the wisest of all and later declares his ignorance as every other philosopher therefore makes the riddle. Socrates happens to come out as one of the wisest philosophers. By denouncing the level at which philosophers are placed in the society, he tried to connect with what is considered as the real world. He comes out as one who is certain of the shortcomings in his world that other philosophers have not discovered. By saying ‘I know that I do not know’, he comes out as a wise philosopher who knows he does not know everything. He brings out an aspect of acceptance that one can never be self-sufficient. Regardless of how much one is perceived by others to be sufficient, a gap in everybody can only be discovered through exposure. This is the opposite of what the world thinks of philosophers. It is also the opposite of what philosophers think of themselves. To many of them, their small professional world gives them confidence as all knowing. Majority do not acknowledge their struggles as part of a problem emanating from ignorance. To them, the struggles are just part of the process. Allegory of the Cave is a dialogue between Plato’s teacher, Socrates and Plato’s brother. Socrates, who is the main narrator, brings out a dark, congested world inhabited by people in a particular class of wisdom. In that small world symbolized by a cave, there is commonality of knowledge since all are pinned to the same wall. They face the same issues and none of them feels free to explore the outside world even when freedom is declared. The Allegory is given in a setting of a prison where prisoners are put in an underground cave. The cave receives limited light that makes it hard for each one of them to see anything that happens behind them. All they know are their own shadows and those of people passing behind them. Their manner of communication and the things they talk to each other relates to what they share in common. Their discussions are tied around what is common to them and any attempt to release them will not be easy for them. Select one incident from Plato’s Allegory of the Cave that best serves to illustrate the meaning of this statement. According to the allegory, the prisoner disabused of his error and liberation to walk around represents Socrates. Due to the conditions he has been in before, the prisoner is likely to suffer so many things. Part of the problems will be facing the light that has been rare in the former state. Any exposure to the light will be so disturbing but a positive step tow ards discovering the reality outside the prison. The exposure will be the start of getting wisdom as he tries to define different things around him. For example in the Allegory, giving seasons and the years will be a demonstration of newly found wisdom that never existed in the former state. The incident brings out a realization of the real world where fantasies do not apply. Facing realities makes one realize how much they do not know even after being higher in knowledge as per fellow people. To Socrates, getting

World History to 1400 Essay Example | Topics and Well Written Essays - 500 words

World History to 1400 - Essay Example Another similarity between the two empires relates to their education systems. Although the Roman Empire had a more complex education system compared to that of the Chinese, the two empires emphasized on the importance of education. Leadership posts were preserved for those who had demonstrated considerable intellectual merit (Fernandez-Armesto 347). Chinese education was based on writing skills. For one to be considered for any leadership position, demonstrating these writing skills was important. The Roman Empire based its education system on 37 chapters of knowledge compiled Pliny the Elder, a famous Roman educator. Another similarity between the two empires can be seen in their view of what constituted good governance. Good governance according to both empires involved serving the needs of the people. The Roman Public Utility Services was established to keep cities clean and avoid illnesses. This involved modernizing water supply systems and building public and private baths. A small ditch on the centre of each stoned city ensured that dirty water and rainwater were drained away. Master Kong established Confucianism in Chinese Empire and ensured the affirmation of accepted values and norms of behavior in public service and social interactions (Fernandez-Armesto 349). One of the differences between the two empires can be seen in their economic structures. While the Roman Empire had taken great steps in the fields of technology and engineering, the Chinese Empire lagged behind in these fields. Specialization was rare in the Chinese Empire leading to a low rate of economic development. Farmers practiced subsistence farming (Fernandez-Armesto 441). The Roman Empire, on the other hand, had very modern ‘tastes’ and demands. Three pulley cranes and treadmills were first used in the Roman Empire (Fernandez-Armesto 441). The Romans further used technology to bring fresh water to their cities while connecting these

Friday, July 26, 2019

Issues and Dilemmas of Contemporary Public Administration Essay

Issues and Dilemmas of Contemporary Public Administration - Essay Example Public interest can be defined as the general wellbeing of the public. This is where the whole society, and not just selfish individuals, matter. They, therefore, warrant protection, promotion and recognition from the government. It is their job as people in higher positions of power to ensure that everyone gets treated right and just with accordance to the law (Nichols, 2010). Public administrators are, therefore, bound to these roles by certain ethical rules. As they make decisions, they have to take into account the rules that bind them to ensure they serve the people well. This paper will review some of the responsibilities and obligations that bind public administrators. Also, the dilemmas they usually face when politics is involved in the running of the business. Administrative responsibility lies with the fact that leaders are supposed to serve the people on a lower level. The problems that arise when they are in charge are often seen with the way they handle their business. Some ethical problems that they face arise mostly from morality. Many public administrators are mostly consumed by sex scandals (Kumar, 2005). These issues create a very bad image for the people that surround them, especially their family. Most people voted into office are chosen based on their family standings and values. A family man is likely to be chosen into office than a person who does not have a family. The public would like to be involved in the running of their daily business.

Thursday, July 25, 2019

Engage with the topic of Pleistocene Re-wilding Essay

Engage with the topic of Pleistocene Re-wilding - Essay Example ies we know today came about as a result of evolution of mega carnivores and herbivores and therefore biodiversity is not what it is without this segment of megafauna. The plan to re-wild America is therefore the most suitable way out of total extinction of these species because even as debate is being generated on this move, more large vertebrates from Asia and Africa are constantly finding homes in America in the form of zoos and private reserves (Donlan, 913). It is estimated that there are more Asian tigers in America that in the wild. The process of re-wilding North America has in fact started and all that is left is to move these animals in captivity to the free world of the US landscapes. The success of this process will be founded on the following tenets: That human beings have a natural attraction to megafauna which the explanation to why San Diego’s Wild Animal Park receives 1.5 million visits annually much more than the total number of visits to US national parks that are homes to rodent and other small animal species (Donlan, 914). Releasing the captured animals couples with their relationship with the American ecosystem given t heir extinct ancestors roamed the American plains is enough reason to get the process of re-wilding started. Wild Bactrian camels that are currently facing extinction in the Gobi desert had their ancestors, Camelops, originate from North America and therefore taking them back home to America would rescue this species from total extinction. Another basis is that, even with the surging world human population, regions of Southwest America that are the possible home of these re-introduced species are experiencing population decline providing sufficient room for the megafuna to roam and reproduce. As the custodians of world heritage, the human race is ethically bound to ensure large vertebrate are not extinct and this responsibility, coupled with the potential economic and biological benefits that come with re-wilding, provides

Wednesday, July 24, 2019

Steel Work Questions Essay Example | Topics and Well Written Essays - 500 words

Steel Work Questions - Essay Example Some of the least expensive products Steel Works has to offer are the products the customers choose not to have. This suggests Steel Works will need to discontinue the use of some of the products. If Steel Works is going to begin showing profits again the company will need to move some of the current inventory, and control the manufacturing of future inventory. Before, Steel Works can sell some of the products they are overstocked on the company will need to reduce the cost to the customer. By reducing the cost to the customer, the company is making the product seem more appealing to the customer. Everyone likes to save money, even companies. 2.) The coefficient of the inventory tells one the company has too much inventory of the two products. The company should definitely decrease the inventory, as soon as possible. When the company figured the coefficient for the inventory, the numbers were astronomical. The coefficient will tell the company what products should be sold first, and what variations of the two products need to be sold at a discount. When the company figured the coefficient, the company was surprised at the astronomical amount of inventory the company continues to have at present. 3.) The company has been holding a large amount of inventory.

Tuesday, July 23, 2019

A commentary on the potentials of social media applications Essay

A commentary on the potentials of social media applications - Essay Example 11 Supporting of experimentation and take up 12 Creation of synergies: 13 Bibliography 19 Introduction The previous five years have resulted to a growing excitement within the community of education about web2.0 technologies. The technology is an umbrella term used to refer to numerous internet applications including wikis, social networking, virtual societies, folksonomies and blogging among others. Even though these applications differ in function and form, all of them share a characteristic that is common. That is, the supporting of interaction that is internet based within and between groups. Web 2.0 technology marks a different isolation from the 1900s internet applications and also the early 2000s internet applications, allowing forms of exchange that are â€Å"interactive† rather than broadcast† whereby information sharing is â€Å"many-to-many† as compared to one to many. Web 2.0 applications focus around sharing and appropriation of content between commun ity users whose outcome is multiple dimensions of user-driven communication, content recreation and creation and collaboration. Commentators are now talking of a write/read web where individuals can generate easily their own content and also utilize content generated by others. For instance, Wikipedia is unique from the online Encyclopaedia Britanica. This is because, Wikipedia is a document that is open thus being updated, created, refereed and edited by its readers. This has made it derive authority and accuracy from the ever ongoing consensus and discussions rather than depending on a single expert word. Given the significance of collaboration, creation and communication to using of the above named technologies, educationalist have been on the forefront pointing out the web 2.0 potential for enhancing and supporting learning. The education agendas have focused on social software emerging practices. Social software is categorized broadly as software that enables interaction betwee n groups. The most common among individuals are discussion forums that are internet based, dating sites and social networking. From the studies carried out by the Institute for Prospective Technological Studies (IPTS), it was concluded that, new opportunities for modernising and innovating training and education institutions and for purposes of preparing the 21st century learners, could only be achieved through the uptake of social media applications outside settings of formal education (Alan-Mutka 2009, 2010). The increased rates of internet use for mail sending and receiving are a good indicator of the conceived significance of the internet for knowledge and communication. In addition to that, the internet is crucial for information exchange. With the innovation and introduction of multiple applications in social media, interactive and active internet usage has been encouraged and the trend is further developing. The social media applications provide its users with communities and online networks for knowledge exchange and multi-directional communication (Fry 2004, p.305). Moreover, this application allows individuals to share and publish digital content like videos, photos and music. In the current world, the educational use of social software is not well incorporated. As such multiple actions are needed across practice, policy and developer communities prior to it becoming effective and widespread.

Monday, July 22, 2019

Independence Day Essay Example for Free

Independence Day Essay â€Å"India is the cradle of the human race, the birthplace of human speech, the mother of history, the grandmother of legend, and the great grandmother of tradition. Our most valuable and most instructive materials in the history of man are treasured up in India only.† Honourable Chief Guest, teachers and all my dear friends. This day 15th August of every year is a golden day engraved in the history of the world. We won our freedom on this date and it is a day of celebration. As we celebrate it hoisting the flag, playing our National Anthem with fervor, singing and rejoicing, we need to recall the past to remember and pay homage to the builders of our nation. My dear friends, we are the privileged lot to have been born in a free India. We are able to breathe in a land that is free from the day we were born. If at all we want to know the pangs of agony of being slaves under a foreign rule, we must ask our elders born before 1947. It was indeed a Himalayan task for every Indian in those days to fight against those powerful giants – the British rulers. We must not allow those hard times and struggles fade away from our memory. Hence it is befitting for us to celebrate such a National festivals and recall those heroic deeds of our National heroes. We remember them today. Right from Mahatma Gandhi to the many patriotic leaders to whom we owe our gratitude. As we regard those martyrs who laid their precious lives for our sake, we must not ignore the common people who sacrificed their lot for the good cause. There were farmers, land lords, businessmen, teachers, writers, poets and students who helped the land achieve the long cherished dream of being free from foreign rule. Today we have travelled a long way in the path of free India. We have proved ourselves worthy of freedom. We are considered as the largest democracy in the world. How proud we were when Sushil Kumar won the silver medal in 2012 London Olympics or when The Indian Cricket Team lifted The ICC Champions Trophy? We are proud of it and feel very happy about all these positive aspects. But can we afford to be blind to the black clouds surrounding us? Let us question ourselves have we used our freedom in the right manner? If so, why should there be so many problems facing our motherland that threaten its existence? Be it terrorist attacks or the blight of corruption; these are the dangers that threaten us all. Well what can a mere student do at this juncture? Should we go catch the terrorists? Should we fight against the corrupted politicians? Or should we take over the country by waging another war for  freedom? No, we are not expected to do anything that brings turmoil to our land. We must keep observing things around us. We will have our own day. Before that, let us do our duty of preparing ourselves to be well-educated citizens of tomorrow. Let us do our duty sincerely and study hard to achieve a goal that is to be responsible citizens of India who believe in their country. Today we require youngsters with lot of energy. Illiteracy is our first enemy for a democratic nation. Let us get rid of illiteracy and become informed citizens who take India to a bright future. Jai Hind

Personal statement for PhD in forensic science Essay Example for Free

Personal statement for PhD in forensic science Essay My interest in Forensic Science was developed primarily in my undergraduate years and was strengthened during the initial stages of my Master’s Degree in Molecular Biology. While I was still working on my undergraduate degree, I became fascinated with chemistry and how the science can be used in many practical applications for a variety of industries. What captured my attention the most is how using current science and technology, specialists are able to determine details of a crime scene that can be effectively used to solve the crime. This realization brought about by many experiences both in and out of the classroom gave me the interest to study Forensic Science. When I entered into graduate school, I chose Molecular Biology as my major primarily because it is highly connected with the chemical and biological applications to Forensic Science. True enough, the work that I have done so far in my degree has strengthened my conviction to become a forensic scientist. As a student, I believe that I have the prerequisite knowledge and academic dedication to obtain a doctorate degree in a science that is a direct application of my previous educational background. My background knowledge as evidenced in my transcripts includes extensive work on chemistry, biology, and academic research with courses that contain detailed laboratory work using procedures that are parallel with some components of those being used in Forensic Science today. Thus, I have strong proficiencies with different equipment used in the laboratory and am perfectly capable with working in a demanding laboratory setup. My academic records would show that I am a very diligent student who strives to achieve excellence in any academic endeavor. Aside from this, I also have the dedication necessary in conducting rigorous research which is not only a requirement for any doctorate degree but a strong essential for a PhD in Forensic Science in particular. I am aware that Forensic Science entails much work in gathering information and processing them in order to obtain the required output and this process is very familiar to me. I have conducted various research projects in the past and have a consistent track record of being able to synthesize complex ideas into meaningful analysis that can effectively reflect current trends and developments. In Forensic Science, my interests in particular are DNA finger printing and analysis of evidence. As early as now, I have read extensively on both areas and am determining possible relevant contributions that I can make in my dissertation on a topic related to those said interests. M readings have made me familiar with the areas and gave me insight on what are the concerns of the science at the moment that need to be adequately addressed by academic research. This demonstrates how sincere my intention is to finish a postgraduate degree in Forensic Science. I am certain that I am adequately prepared and fully capable to take on and complete a doctorate degree in Forensic Science. I have a strong educational background with experiences that are highly related to my intended major and I have developed effective learning and research skills that are essential to completing the degree. There is no doubt that I will be able to make significant contributions in this body of science as a researcher and make use of knowledge gained in completing this degree as a forensic scientist in order to aid law enforcement in solving crimes in the interest of upholding justice and maintaining societal order.

Sunday, July 21, 2019

Human Resource Management

Human Resource Management 1. Introduction By definition â€Å"Human Resource Management (HRM) is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization† (Hofstede,G 1984) Human Resource Management (HRM) can also be performed by line managers. As more and more cooperation are becoming global in their operations people management is becoming more complex and sophisticated. In this report it is briefly discussed whether it is possible to manage people from different countries with the same policies and procedures across the continents i.e. whether it is possible for a multinational company to have ethnocentric approach and still have global presence or should they adopt more geocentric approach to succeed in foreign markets. According to Porter (1980, 1985)† HRM can help a firm obtain competitive advantage and there is a direct correlation between strategic HRM and economic success† Since, the major (and developing) markets for mobile phones and electronics are USA and European countries, to be closer to these large markets a manufacturing plant should be established in either of the continents. It is very important for the company’s management to have clear understanding of HRM practices of both the continents (societies) before they invest in new plant in either of the continents. It’s clear from the studies in the past that for operational success in foreign land it is important for the management to deeply study the local HRM practices. A few studies have investigated the effects of culture on use of HRM strategies (Gooderham et al., 1999; Tregaskis, 1997), finding that the HRM strategies used by companies may reflect the cultural values of the managers and employees ( Gooderham et al., 1999; Hofstede, 1991 cited in Fields,D., Chan, A. , Akhtar, S. and Blum, T.C. (2006 ). This report will scan North American as well as European culture for huma n resource practises and compare it with Asian HRM practices (where firm is currently based) , also it will throw some light on cultural values, recruitment and training, payments and rewards, motivation and employment relations of North American (USA Canadian) and Europe Union companies. 2. Culture: The most important factor to look for while globalising the operations The best and most comprehensive definition of culture so far has been given by anthropologist Kluckhohn in 1951, according to definition: Culture consists in patterned ways of thinking, feeling and reacting, acquired and transmitted mainly by symbols, constituting the distinctive achievements of human groups, including their embodiments in artefacts; the essential core of culture consists of traditional (i.e. historically derived and selected) ideas and especially their attached values. Culture involves a set of cognitions that are shared by all or many members of a social unit; these cognitions are acquired through social learning and socialization processes, and they include values, common understandings, and patterns of beliefs and expectations (Rousseau, 1990). According to Hofstede’s in his studies in 1984 it was found that there are main 5 dimensions to culture which are Power Distance, Individualism, Uncertainty Avoidance and Masculinity/Femininity. When dealing with people from diverse background senior managers play the most important role in shaping cultural values of the organization (Sharma,B. and Chew,K.H 2005). Employment practices play an important role in shaping the organizational culture and become the motivating factor for employees. To have successful implementation of HRM policies and practices above mentioned cultural dimensions shouldn’t be ignored by HR manager especially when globalizing the operations. 2.1 High and Low context Cultures High context culture refers to a culture’s tendency to cater towards in-groups, an in-group being a group that has similar experiences and expectations, from which inferences are drawn. In a high context culture, many things are left unsaid, letting the culture explain. High context cultures are collectivistic in nature. (Hall, T.E 1976) Low Context culture has tendency to cater towards in-groups. Low context cultures, such as Germany or the United States make much less extensive use of such similar experiences and expectations to communicate. Much more is explained through words or verbalization, instead of the context. Low context cultures are usually individualistic. (Hall, T.E 1976) In order to communicate successfully managers have to consider the cultural differences and have to alter communication process according to individualistic or collectivistic cultures. It is best to explain theses differences in terms of low- and high-context communication. Context has to do with how much you have to know before you can communicate effectively. (Hall, T.E 1976) 3. Types of Organization In 1991 kabanoff in his research developed a typology that describes four value profile types organizations can fall into – â€Å"Elite†, â€Å"Meritocratic†, â€Å"Leadership† and â€Å"Collegial†. The value profile of an organization is determined by two factors – the degree of equality versus inequality in their structures and the degree of equity versus egalitarianism in their processes. The Collegial profile describes an organization where cohesion is the principal concern. Power, rewards and resources are evenly distributed; it relies upon a commitment to shared values and individual responsibility for actions as the basis for task-achievement rather than upon more tangible rewards; the organization exercises relatively little control over peoples activities (e.g. professional bureaucracies). (Kabanoff, 1991). The Meritocratic profile describes an organization whose members are highly concerned with both cohesion and productivity. This type shares many of the integration-oriented qualities of the collegial culture but with increased emphasis on performance and rewarding people for performance (Kabanoff, 1991).An international human resource manager should keep culture (of the country in which organization is based) and type of organization he works for in mind while designing or forming the people management policies for the organization to have successful results. Few organizations foster â€Å"high performance work systems† also known as high commitment or high involvement practices or systems (Wood, 1999 cited in Zacharatos, A., Hershcovis, M.S., Turner, N., Barling, J. 2007).This type of organizations treat its employees as assets, managers in these types of organizations treat employees with fairness and with respect more importantly employees in such organizations become part of decision making process. Such organizations provide employees with job security, opportunities to upgrade their skills or pay employees comparatively better wages. (Wood, S., Wall, T., 2002) According to Wood, S. and Wall, T., (2002) all the organization with â€Å"high performance work systems† have following characteristics: a) Foster employee involvement in their work. b) Fosters employee involvement and commitment towards organizational goal. c) Opposite to Taylorist model in which ‘control’ is favored, in â€Å"high performance work systems† instead individual and group autonomy is preferred. So far in this report we have discussed culture and its impact on work environment also, for clear understanding of the concept organizational types have been discussed. Now moving further this report will briefly discuss European and North-American work culture and compare it with Asian practices of human resource management. This knowledge will help management to understand what changes needs to be made to current employment practices in order to successfully manage and motivate employees in western countries. 4. Popular Models of HRM 4.1 The European model of HRM In his studies of HRM-economics success equation Beyer (1991) has said â€Å"Human Resource Management is the only true important determinant of success.† In the past most of the authors of HRM studies have focused on US and Japanese models of HRM practices as US is considered to be the birth place of management studies and Japanese model of organizational structure( including human resource practices) have been very successful in the past. Very little has been written or said about European model of HRM .There are clear country differences which can be understood and explained in the context of each national culture and its manifestation in history, law, institutions and trade union and employing organization structures; or in terms of regional clusters within Europe (Filella, 1991 as cited in Brewster, C; 1993). In the words of Thurley, K. and Wirdenius, H. (1991) European Management is emerging, and cannot be said to exist except in limited circumstances; is broadly linked to the idea of European integration, which is continuously expanding further into different countries (i.e. the 12); reflects key values such as pluralism, tolerance, etc., but is not consciously developed from these values; is associated with a balanced stakeholder philosophy and the concept of Social Partners. 4.1.1 Importance of Trade Unions in Europe In European countries the presence of unions are important â€Å"the definition, meaning and reliability of unions varies from country to country in European Union (Brewster, C.1993).† European countries are heavily unionized as compared to US. Countries like France, Germany for example has legislation making obligatory for firms over certain size and employee strength to consult trade unions in certain circumstances. (Brewster, C.1993). Few academicians argues that workforce in Europe as a continent is deeply influenced by trade unions for example Sweden has union membership of 85 per cent of working population, UK has 40 per cent and France has 12 per cent which is double of US (Gunnigle et al., 1993 cited in Brewster, C.1993 ). The most important function of trade unions in European countries is to get a collective bargain for the employees on industrial or national level (Gunnigle et al., 1993 cited in Brewster, C.1993). By studying the European style of management it can be said that Trade Unions can be seen by management as Social Partners which has a positive role to play in human resource management. This type of view of trade unions is quite opposite to American style of management. 4.2 The US model of HRM HR policy is defined by a set of principles, which aim to solve a set of problems and that materialize in a set of practices (Tome, E.,2005). The pioneering study in the field of scientific management which found its way in modern HRM was conducted by Taylor in US in 1964. Few of the important points from Taylor’s study are as follows: Human skills and organizational competences are essential to the development of any company. The skills pyramid has a small top and large base. Knowledge is essentially possessed by the small group at the top. The small top group members should be highly rewarded because they possess a very important asset: knowledge. (Cited in Tome, E., 2005). These points have acted as base of US model of HRM since long time. According to Hofstede (2001) in his studies have shown that US culture is more individualistic and achievement-oriented as compared to any other country, Managers from US give more importance to knowledge as compared to anything else and employees do not relate personally (moral connections) to the jobs like Japanese employees do. 4.2.1 Anti- Unionism in US US model of HRM is anti-union and anti-collective-bargaining. The contemporary approach of HRM ignores trade-unions and are being based on a unitary view of organizations (Strauss, 1968). Since the US society is high on individualistic characteristics so trade-unionism is not very popular in American society. According to research conducted by Marsh,R. and Pedler, M in 1979 on unionization in white collar jobs, eight factors were found that affect white collar unionization in US and UK ( See Appendix 1) : (1) Company organisation structure (2) Occupational composition of the workforce (3) Managerial attitudes (4) Existence of staff associations (5) Employers Associations (6) Trade Union recruiting strategies and organisation (7) Professional Associations (8) Government Interventions 4.3 Asian model of HRM Managers and workers from companies originated from Asian countries may tend to see a relationship with an organization as a moral connection, where the collective unit and worker have reciprocal obligations to each other. On the other hand, US managers may tend to view employment relationships as primarily calculative in nature (Hofstede, 2001; cited in Fields,D., Chan, A. , Akhtar, S. and Blum, T.C. ,2006 ). This difference may reflect the higher individualism in US culture, where conformity to an organization is seen negatively as intrusion in the self-interest of the employee (Hofstede, 2001). Managers and worker in Asian countries for example China and Hong-Kong differ from the workers in US (North America) in power distance i.e. a preference is given to more formal interactions with superiors. More importance is given to collectivism in Asian societies as compared to individualism in western societies. These cultural differences may combine to establish differences in decision-making and models of employee-organization relationships that influence choices of strategies to counteract uncertainties in the supply of labor (Fields, D., Chan, A., Akhtar, S. and Blum, T.C. (2006). 4.3.1 Performance assessment In Asian cultures workers may view performance monitoring and assessment positively. Increased performance monitoring can be perceived as a symbol that managers are taking a greater interest in the workers (Hofstede, 2001). Performance assessment is viewed by Asian workers as one of the ways by which they show their moral connections with the company. According to Redding and Wong, 1986 â€Å"the retention of existing workers in Asian organizations may be increased by placing more emphasis on performance monitoring and assessment† On the contrary, because of lower power distance in US culture increased performance monitoring is seen negatively. It is seen as management’s way of emphasizing the differences between bosses and workers (Hofstede, 2001). In US and European countries this policy of constant and strict performance assessment/monitoring can lead to high attrition within the organization, also it may lead to workers seeking different jobs which could possibly lead to labor shortage in the organization. 4.3.2 Training and Recruitment In collectivist culture like Asian cultures more emphasis is paid on training and development of existing employees as companies/organizations take it as their moral obligation to increase its employee’s skills (Hofstede, 2001; cited in Fields, D., Chan, A., Akhtar, S. and Blum, T.C. (2006). Also, Asian firms view training of employees as one of the way to reward them, these in-house trainings make employees feel that they are accepted and important part of collective unit. (Redding and Wong, 1986). In US and European culture where workers are more individualistic and self-interested in their pursuits companies see training as building technical and interpersonal skills of employees (Drost et al., 2002). Such employment practices are popular in US and Europe because of tight labor market and individualistic employees use newly acquired skills to find better position elsewhere. 5 Five Key Factors for successful transfer of HR policies from HQ to subsidiary (See Appendix 2) 5.1 International experience of local HR director The local HR director plays an important role while transferring HR policies. HR director needs to deal effectively with HQ staff, the foreign CEO and the colleagues from other countries. It is desirable that the local HR director have international experience from working and living abroad. (Diplomingenieur, W.S., 2004) 5.2 International experience of HQ HR staff HQ staff needs to have the experience of ‘the other side’ to be a valuable partner to the subsidiary. The necessary experience, in addition to subject expertise, includes cultural sensitivity and a keen sense for the daily business challenges in the subsidiaries. (Diplomingenieur, W.S., 2004) 5.3 Practice manuals, clear guidance Company/firm should avoid generic policies and guidelines that need to be translated into practices to be justify to management in HQ. HR managers should rather have clear practice manuals and directives, with the freedom to deviate if appropriate. As a simple example consider a policy that says ‘performance review is mandatory’ versus a manual that says ‘in April each year every employee gets to speak face to face with his or her manager about past performance and expected future performance’(Diplomingenieur, W.S., 2004) 5.4 Establish feedback routes to HQ other than the CEO Using the CEO as a feedback route to HQ for HR matters is a ‘short term fix’ that prevents the long term solution of having a more versatile and internationally functioning HR, both in HQ and in the subsidiaries. (Diplomingenieur, W.S., 2004) 5.5Organisation by region, not by issue (mentor) Cultural barriers are reduced and a more direct communication is possible if responsibilities in HQ are organised by region rather than issue. If every country has ‘their’ HR generalist in HQ as a partner, there will not only be fewer misunderstandings but also the HQ tendencies to have very theoretical, or specific, policies will decrease. (Diplomingenieur, W.S., 2004) Conclusion It is not essential that managing people is same in all the countries but it hugely depends on the organizational culture and values. Pieper (1990) in his study of European management styles has concluded that ‘a single universal model of HRM doesn’t exist.’ High and low context culture plays an important role in organizations success. An HR manager should keep typology of organization in mind while forming policies, procedures and processes for his firm as it is evident from empirical studies that companies fall under â€Å"Elite†, â€Å"Meritocratic†, â€Å"Leadership† and â€Å"Collegial† typologies and equality/inequality, power distance and individualism/collectivism in the organizational culture depends on typology of the organization. It can also be argued that a multinational company has to keep few values for e.g. The vision and mission of the organization uniform in each and every country of operation in order to achieve its short and long term goals. However, in its endeavor HR manager should not forget that people from different countries have different value system which makes International HRM a challenging task while globalizing the operations. Recommendation The transfer of policies and procedures from the parent organization to subsidiary location is very important for the multinational organizations in order to globalize its the operations. The ability to transfer knowledge effectively across the border is identity of a successful MNE, while doing this management should keep cultural difference in mind, to formulate policies and processes that are not only motivating for employees but also helpful to management for smooth operations. Management should keep five key factors mentioned above in mind to successfully transfer HRM policies to western countries. It is expected from local HR manager to adapt companies polices according to European or North-American style of HRM and translate into practice. Firm should encourage HR managers as well as employees to participate in cross-border cultural training. Recruit people with international experience or else some of the staff can be transferred from HQ in Asia to the subsidiary in Europe or North-America for short period of time. Create a company specific, regional, practice manual for HR. And lastly encourage at least one annual trip for the local HR director at Europe or America to HQ in Asia. References Beyer, H.T. (1991) â€Å"Personalarbeit als integrierter Bestandteil der Unternehmensstrategie† paper to the 1991 DGFP Annual Congress, Wiesbaden. Brewster, C; 1993 â€Å"Developing a ‘European’ model of human resource management† Diplomingenieur,W.S.,(2004) : the dissertation submitted in University of Southern Queensland, Australia , on â€Å"Transfer of human resource policies and practices from German multinational companies to their subsidiaries in South East Asia † P :165-169 Drost, H., Frayne, C., Lowe, K., Geringer, J.M. (2002), Benchmarking training and development practices: a multi-country comparative analysis, Human Resource Management, Vol. 41 No.1, pp.67-86. Fields,D., Chan, A. , Akhtar, S. and Blum, T.C. (2006), â€Å"Human resource management under uncertainty.† Gooderham, P., Nordhaug, O., Ringdal, K. (1999), Institutional and rational determinants of organizational practices: human resource management in European firms, Administrative Science Quarterly, Vol. 44 pp.507-31. Hofstede, G. (1984), Cultural dimensions in management and planning, Asia Pacific Journal of Management, Vol. 1 No.2, pp.81-99. Hofstede, G. (1991), Cultures and Organizations: Software of the Mind, McGraw-Hill, London, . Hofstede, G. (2001), Cultures Consequences, Second Edition: Comparing values, behaviors, institutions, and organizations across nations, Sage Publications, Thousand Oaks, CA, . Hall,T.E (1976); Beyond Cultures Kabanoff, B. (1991), Equity, equality, power and conflict, Academy of Management Review, Vol. 16 pp.416-41. Kluckhohn, C. K. (1951). â€Å"Values and Value Orientations in the Theory of Action† Marsh,R. and Pedler, M. (1979),†Unionizing the white collar worker† P: 2-6 Pieper, R. (1990), â€Å"Human resource management: An international comparision, Berlin† Porter, M. (1980) Competitive Strategies, New York: The Free Press Porter, M. (1985) Competitive Advantage, New York: The Free Press Redding, G., Wong, G.Y.Y. (1986), Chinese organizational behaviour, in Bond, M.H. (Eds),The Psychology of the Chinese People, Oxford University Press, Hong Kong, . Rousseau, D.M. (1990), Assessing organizational culture: the case for multiple methods, in Schneider, B. (Eds), Organizational Climate and Culture, Jossey Bass, San Francisco, CA, Strauss, G. (1968) ‘Human relations – 1968 Style’ , Industrial relations, 7: 262-76. Sharma,B. and Chew,K.H (2005); â€Å"The effect of culture and HRM practices on firms performance.† Taylor, F. (1964), Scientific Management, Harper Row, London, . Thurley, K. and Wirdenius, H. (1991) â€Å"Will management become ‘European’ Strategic choices for organisations† , European Management Journal, 9, 2: 127-34. Tome, E. (2005) â€Å"Human resource policies compared: What can the EU and the USA learn from each other?† P 405-418 Tregaskis, O. (1997), The role of national context and HR strategy in shaping training and development practice in French and U.K. organizations, Organizations Studies, Vol. 18 No.5, pp.839-56. Wood, S., Wall, T. (2002), Human resource management and business performance, in Warr, P. (Eds),Psychology at Work, Penguin, London, pp.351-74. Zacharatos, A., Hershcovis, M.S., Turner, N., Barling, J. (2007 ) â€Å"Human resource management in the North American automotive industry: A meta-analytic review† : 231 – 254 Appendix 1 Source: Marsh,R. and Pedler, M. (1979),†Unionizing the white collar worker† P: 2-6 Appendix 2 Source: Diplomingenieur,W.S.,(2004) : the dissertation submitted in University of Southern Queensland, Australia , on â€Å"Transfer of human resource policies and practices from German multinational companies to their subsidiaries in South East Asia † P :165-169

Saturday, July 20, 2019

Education Of The Middle Ages Essay -- essays research papers

Education of the middle ages Education, as we know it today, did not exist in the Middle Ages. Illiteracy was dominant among the population. Scribes were the exception to the rule. Churches were the main source of knowledge and schooling. Real interest in learning grew along with the development of towns. The towns’ officials needed to be educated. At the same time a need for legal institutions was created and so started the university phenomenon. Modern education was on its way. There were few schools in the Middle ages, so everyone had limited education. Even the Lord of the Manor was often unable to read or write. Some of the first schools were Cathedral schools. As well as Parish, Monastic, and Palace schools. Here people learned a particular role in society. Naturally the primary job was training the clergy in their professional duties as priests of the Christian people. The bishop was the head of the complex and he had a staff of priest to help him with the several of the diocese. These skills that were taught here were reading, singing of hymns, church law, writing of documents and the performing of Church duties and sacraments. An example of educating for a specific role in life were the Knights who had learn how to fight with various weapons so that they could fight for their king.   Ã‚  Ã‚  Ã‚  Ã‚  The common people, however, had no way of being educated other than going a monastic school. However, if they did this, they had to donate their proper ty to the church. The people who went to this school later become monks or nuns. They had to follow three important laws: chastity, obedience, and the law or the lord if not followed they would be thrown out of the monastery. Most monasteries had a rule of silence: monks could not talk which other except for a short period of time. During meals one monk might read passages from the bible while the others mediated. Even though monks’ lives seem to be so hard it was the best place to go for a good education for anybody from a king to a beggar (Monasteries 488-499).   Ã‚  Ã‚  Ã‚  Ã‚  Women took part in monastic life by living in a convent under a direction of an abbess. Known as nuns, they wore simple clothes and wrapped a white cloth called a wimple around their face and neck. They alternated prayer with spinning, weaving, and embroiling items such as tapestries and banners. They... ...ssance 220). The invention of the printing press in the mid-15th century made books more widely available and increased literacy rates. But school attendance did not increase greatly during the Renaissance. Elementary schools educated middle-class children while lower-class children received little, if any, formal schooling. Children of the nobility and upper classes attended humanist secondary schools (Bailey 112). Educational opportunities for women improved slightly during the Renaissance, especially for the upper classes. Some girls from wealthy families attended schools of the royal court or received private lessons at home. The curriculum studied by young women was still based on the belief that only certain subjects, such as art, music, needlework, dancing, and poetry, were suited for females. For working-class girls, especially rural peasants, education was still limited to training in household duties such as cooking and sewing (Couglin, A8). As it shows education the Middle Ages seems to be so diverse and a starting point for modern education. But the reader must always keep in mind only about five percent of the whole population did all of these educational activities. Education Of The Middle Ages Essay -- essays research papers Education of the middle ages Education, as we know it today, did not exist in the Middle Ages. Illiteracy was dominant among the population. Scribes were the exception to the rule. Churches were the main source of knowledge and schooling. Real interest in learning grew along with the development of towns. The towns’ officials needed to be educated. At the same time a need for legal institutions was created and so started the university phenomenon. Modern education was on its way. There were few schools in the Middle ages, so everyone had limited education. Even the Lord of the Manor was often unable to read or write. Some of the first schools were Cathedral schools. As well as Parish, Monastic, and Palace schools. Here people learned a particular role in society. Naturally the primary job was training the clergy in their professional duties as priests of the Christian people. The bishop was the head of the complex and he had a staff of priest to help him with the several of the diocese. These skills that were taught here were reading, singing of hymns, church law, writing of documents and the performing of Church duties and sacraments. An example of educating for a specific role in life were the Knights who had learn how to fight with various weapons so that they could fight for their king.   Ã‚  Ã‚  Ã‚  Ã‚  The common people, however, had no way of being educated other than going a monastic school. However, if they did this, they had to donate their proper ty to the church. The people who went to this school later become monks or nuns. They had to follow three important laws: chastity, obedience, and the law or the lord if not followed they would be thrown out of the monastery. Most monasteries had a rule of silence: monks could not talk which other except for a short period of time. During meals one monk might read passages from the bible while the others mediated. Even though monks’ lives seem to be so hard it was the best place to go for a good education for anybody from a king to a beggar (Monasteries 488-499).   Ã‚  Ã‚  Ã‚  Ã‚  Women took part in monastic life by living in a convent under a direction of an abbess. Known as nuns, they wore simple clothes and wrapped a white cloth called a wimple around their face and neck. They alternated prayer with spinning, weaving, and embroiling items such as tapestries and banners. They... ...ssance 220). The invention of the printing press in the mid-15th century made books more widely available and increased literacy rates. But school attendance did not increase greatly during the Renaissance. Elementary schools educated middle-class children while lower-class children received little, if any, formal schooling. Children of the nobility and upper classes attended humanist secondary schools (Bailey 112). Educational opportunities for women improved slightly during the Renaissance, especially for the upper classes. Some girls from wealthy families attended schools of the royal court or received private lessons at home. The curriculum studied by young women was still based on the belief that only certain subjects, such as art, music, needlework, dancing, and poetry, were suited for females. For working-class girls, especially rural peasants, education was still limited to training in household duties such as cooking and sewing (Couglin, A8). As it shows education the Middle Ages seems to be so diverse and a starting point for modern education. But the reader must always keep in mind only about five percent of the whole population did all of these educational activities.

Friday, July 19, 2019

Ghost Story of the Motel Murders :: Ghost Stories Urban Legends

Prophetic Dreams of the Motel Murders This particular ghost story was told to me by one of the members of my gymnastics troupe. We had become friends over the course of the season, and she was telling me this story in an informal setting in my dorm room on a Friday night. She is twenty years old and grew up in a very conservative Catholic family in New Jersey. Later on, as I attempted to find more people who would have heard a similar story, I ran into another friend who had heard a variation of the same plot. This was a Jewish Caucasian male, nineteen years old, who grew up in North Carolina. He told me this story as we were eating lunch at a sandwich place in College Park: Back home, a couple of students from some other school came to Rowan [University] to visit some friends from high school or just party. Two of the people that came were dating and they got in a big fight. They didn’t want to have to sleep together at their friend’s dorm, so the guy went to stay at a local hotel to think things over. In the middle of the night, the girl had this horrible dream that her boyfriend was crying out for help because the owner of the hotel was trying to kill him. The dream was really horrifying so the girl woke up in sweat but then realized it was just a dream and went back to bed. But then she saw another dream where her boyfriend was yelling at her to call the police because he had just been killed by the owner and his body is hidden in white van. So the girl got her friends together and went over to the hotel to see what was going on. She didn’t find him in the room he checked into, so she called the cops, and when they came she point ed out the only van in the parking lot. Sure enough the guy’s body was in there all bloody. And this is a variation of the same story: A couple of guys from some frat back home were traveling away to some Greek chapter meeting. They were all supposed to stay at the same motel, but they didn’t coordinate it very well and two guys had to stay at a different motel than the rest of the frat. So then one guy had this dream that the two in a different motel were being chased by the manager and he was trying to kill them.

Communism and Mise-en-Scene Technique in the Film Yellow Earth Essay

Communism and Mise-en-Scene Technique in the Film Yellow Earth As one of the earliest films to come out of communist China’s new film schools in the 1980s, director Chen Kaige’s Yellow Earth reveals much about the Chinese communist party’s interpretation of the years before 1949 (the year of the Communist victory in China). Yellow Earth takes on the appearance of Communist propaganda films as the plot and themes develop. The minimalist mise-en-scene technique effectively illustrates the activities and rituals of daily rural Chinese life throughout the film. Nowhere in the film is the effectiveness of this technique more apparent than in the final scene when Han-Han struggles against the crowd to return to Gu. Many of the scenes in Yellow Earth feature long takes that fully illustrate the true passage of time. For instance, characters are often shown walking across the hills and fields from one location to another. Rather than cut these scenes and imply the length of the journey, Kaige leaves the scenes intact, allowing the viewer to fully grasp the vast expanse of space and t...

Thursday, July 18, 2019

Chapter Twenty One .

Chapter 21. Section one. Page 639. 3. The effects of the Teapot Dome scandal on citizen’s views of the government. The Teapot Dome scandal caused the citizens to view the government as corrupt. 4. How Ohio Gang did the tarnish the Harding Administration? Some Members of the Ohio Gang used their position to their personal advantage, to sell government jobs, pardons, and protection from prosecution. Forbes sold scarce medication supplies from veterans’ hospitals and kept the money for himself, costing taxpayers about $250 million. 5. How did the Democrats lose the chance for victory in the election of 1924? The democrats couldn’t agree on a nominee and kept focusing on the issues of scandal in the White House and Harding, who was dead. Coolidge provided the Republicans a man who would not say anything that would damage the cause and let business take care of itself. 6. Harding vs. Coolidge Harding: Politics- 7. Coolidge was a leader; he avoided scandal and supported business prosperity. 8. Newspaper article about the Teapot Dome scandal. Albert B. Fall, U. S. Secretary of the Interior, leased, without competitive bidding, the Teapot Dome fields to Harry F. Sinclair, an oil operator, and the field at Elk Hills, California, to Edward L. Doheny. He received bribes from those two which brought indictments for conspiracy and accepting bribes for Fall. He was convicted of accepting bribes and sentenced to one year in prison anad fined $100,000. Section two. Page 646. 3. What were the factors that led to the new consumer society in the United States during the 1920’s? The factors that led to the new consumer society in the united states during the 1920’s were mass production, easy credit, mass advertisement, and economic prosperity. 4. How did the automobile impact American society? The automobile eased rural isolation and allowed workers to live further away from where they worked. 5. How did the United States government help spur the growth of the airline industry? Governmental airmail service and funds helped spur the growth of the airline industry. 6. New Industries †¢ The Consumer Goods Industry. †¢ The Airline Industry. †¢ The Radio Industry. †¢ The Automobile Industry. 7. How did the growing consumer culture impact the nation’s economy? The growing consumer raised the standard of living and encouraged Americans to buy new goods. . Newspaper Article on Charles Lindbergh. Charles A. Lindbergh not only opened a passageway to Europe; he opened up the hopes of people who never thought they would see outside their continental boundaries. Before Lindbergh’s transatlantic flight, travel was limited to the ground or the sea; and even the amazing â€Å"automobiles† were blocked by waterways. Travel had boundaries prior to Lindbergh’s flight across the Atlantic, but after his flight people could see beyond those boundaries. Section three. 3. Why did Andrew Mellon work to reduce federal tax rates? He thought that lowering taxes rates would spur the economy by encouraging businesses and consumers to invest and spend. 4. What efforts did the United States make to promote permanent peace and worldwide economic recovery? Were these efforts successful? 5. Treaties 1. Four-Power Treaty †¢ All agreed to respect the others’ territory in the Pacific. †¢ Full and open negotiations in the event of disagreements. 2. Five-Power Treaty †¢ All agreed to freeze naval production at 1921 levels and halt production of large warships for 10 years. †¢ U. S. and Great Britain would not build new naval bases in the western public. . Nine-Power Treaty †¢ All agreed to preserve equal commercial rights to China _ a reassertion of the â€Å"Open Door Policy† 6. What is the difference between politics and the media then and now? Back then there wasn’t a lot â€Å"paparazzi† and it looks like it was more organized and low-key. Nowadays there are people with cameras everywhere and you can barely see what’s actually going on in the center of it all. 7. Cutting Taxes. Good or bad? Chapter Review 12-16. 12. What was the presidency of Warren G, Harding like? Harding urged a â€Å"return to normalcy. The policies of his administration were commonly conservative, especially regarding taxes, tariffs, immigration restriction, labor rights, and business regulation. 13. How did President Coolidge restore public confidence? Coolidge distanced himself from Harding’s administration and named the most capable individuals to his cabinet. 14. What were four new industries, besides the automobile industry, that grew in importance during the 1920’s? †¢ Aircraft †¢ Radio †¢ Motion Pictures †¢ New Electric Appliances 15. How did Henry Ford increase worker loyalty and impact the labor movement? Ford increased workers’ wages and reduced the work day which weakened the power of unions. 16. What were Andrew Mellon’s strategies for maintaining postwar American prosperity? When Mellon took office he had three major goals which were: to balance the budget, to reduce the government’s debt and to cut taxes. 17. How did Automobiles change the standard living during the 1920’s? Automobiles allowed people to travel greater distances a lot faster, it also allowed workers to live outside cities. Rural Americans’ sense isolation also decreased. The success of mass production resulted in new and cheaper consumer goods. 8. How effective were President Coolidge’s attempts to distance himself from the Harding administration? Coolidge’s attempts to distance himself from the Harding administration were obviously pretty effective. He chose effective cabinet members and associating himself with prosperity and big businesses. 19. 20. 21. A. Accordi ng to Coolidge, how should Americans feel about the present economy and the future economy? He thinks that the country should regard the present with satisfaction and appreciate the future with optimism. B. Whom does Coolidge credit for the U. S. prosperity? He thinks it’s thanks to the integrity and character of the American people. 23. A. American Farmers earned less then one-third the average income for workers in the rest of the economy in the 1920’s- fact, it can be proven and it uses statistics. B. President Harding’s choice to appoint Colonel Charles R. Forbes to head Veterans Bureau was his worst decision in office- opinion, can’t be proven, it’s the way someone view the decision. C. The Kelly Act authorized postal officials to contract with private airplane operators to carry mail- fact, its something that is actually true.