Feminism in Medea by Euripides Essay - 1000 Words

Feminism in Medea by Euripides The play Medea by Euripides challenges the dominant views of femininity in the patriarchal society of the Greeks. While pursuing her ambition Medea disregards many of the feminine stereotypes/ characteristics of the patriarchal Greek society. She questions the inequality of women in a patriarchal society, contradicts Jason?s chauvinist beliefs, challenges the stereotype that women are weak and passive and completely disregards the feminine role of motherhood. Feminism is the belief that women and men are, and have been, treated differently by society, and that women have frequently and systematically been unable to participate fully in all social arenas and institutions. This belief is confirmed in†¦show more content†¦Then she was transferred to the home of her husband where she was to fulfill her principal function, the bearing and rearing children. Medea shows the inequality of women in Greek society. The betrayal of Medea by Jason through h is marriage to another woman enrages Medea. She begins to question the role and position of women in a patriarchal society. Are we women not the wretchedness? We scratch and save a dowry to buy a man?Our lives depends on how his lordship feels. For better for worse we can?t divorce him.(p.8, Medea). However, a husband tired of domesticity, Goes out sees friends and enjoys himself?.(p.8and 9, Medea). Medea compares the virtual slavery of women to the absolute freedom of men, showing the inequality and disempowerment of women in society at that time. Jason?s chauvinist beliefs are put under the microscope. Jason airs his views about what all women want: If they?re (women) happy in bed, they?re happy everywhere. By comparing Medea?s pure feminism to Jason?s selfish chauvinism, Euripides brokers sympathy and support for feminism from the audience. Medea questions the firmly held belief in Greek society that women are weak and passive. Wanting revenge on Jason for his betrayal of her, Medea must take control of the situation, a stereotypical masculine quality. Though she cannot become a man or take power like a man, she perceives herShow MoreRelatedEssay on Feminism and its Role in Medea1048 Words   |  5 PagesIn Medea, by Euripides, conflicts play a major role in the creation of the play. Some examples of these conflicts are with Medea and Jason, Medea and herself, and Medea and Creon. Medea is shown to be a strong, independent woman who does what she wants as well as doesn’t let anything stand in her way. She shares qualities of a traditional male at the time, and the qualities of a traditional female. Euripides makes this clear in the play by creating conflicts to prove women can be a powerful characterRead MoreAs A Society, We Are Being Continuously Taught Not To Stray1506 Words   |  7 Pagesroles that exi sted. Throughout Euripides’ Medea, the audience and readers are shown the consequences that said gender roles create. They are a part of history that may never be overcome, as developed in the play. Gender roles may never be overcome in society, nevertheless it is important to remember that they do not define a person, let alone decide their fortune. Equality should not be perceived as an opinion, but as a right. By performing a feminist reading of Medea, it is evident that the main characterRead MoreThe Mythology Of The Greek Society1603 Words   |  7 Pagesconcept of centering a story around a woman. Yet despite living in this society as described, Greek playwright Euripides was the first voice of protofeminism in the Athenian society. His play Medea was the first historical piece that recounted the plight of a women through an actual female protagonist. This was unheard of and almost revolutionary until the Elizabethan era. Though Euripides’ lived in a dangerously powerful misogynistic society, his writing presented a sympathetic portrayal of femalesRead MoreFeminist Theory : The Beginnings Of Feminism1571 Words   |  7 Pages The Beginnings of Feminism â€Å"Feminist theory is an attempt to bring in views from the movement and other female experiences along with research and data information to create new ways to putting an end to female oppression (Kolmar and Bartkowski 12).† Women of all time periods use feminist theory to collaborate together on their real life experiences to come up with ways to make women apart of everyday life. Throughout the different time periods, women have gained more and more power into societyRead MoreEuripides : Feminism Vs Misogynist 1422 Words   |  6 Pages2015 Euripides: Proto Feminism Vs Misogynist At the time of writing Medea in ancient Greece it was the complete norm for men to be incredibly misogynistic sexist, and although there are many that say otherwise, Euripides falls under the same category as the men of the time. Scholars, professors, and students alike proclaim that Euripides was one of the first few men who would be considered a feminist, a â€Å"champion of woman’s equality† (Wright 7), because of his writing of Medea, a playRead MoreMedea the Feminist Essay1328 Words   |  6 PagesThe role of women in Greek society is a major theme in Euripides’ Medea. In ancient Greek society, women are frail and submissive according to men, and their social status is considered very inferior. Feminism is the theory of men being treated differently than women and the male dominance over women in society. Because of Jason’s betrayal of Medea, she is a challenge to the traditional views of ancient Greek society based on her actions. She w onders about the differences between the treatmentRead MoreMedeo is a Play Based on the Myth of Jason and Medea Written by Euripides1248 Words   |  5 PagesMedea is a play based on the myth of Jason and Medea written by Euripides. The play involves the love between two mythical characters: Jason and Medea. The play reaches its climax when Medea is betrayed by Jason when he choses another woman for her youthful beauty. Euripides is able to involve the audience by using dramatic scenery on how Medea choses to respond to this theatrical situation according to the patriarchal culture she lives in. Furthermore, the analysis focuses upon the system of masculinityRead MoreMedea Plot Analysis1392 Words   |  6 PagesMedea is an ancient Greek tragedy play written by Euripides. The play bases itself on the ancient myth of Jason and Medea. The plays plot centers itself on the actions of Medea who was the Barbarians former prince who seeks revenge against Jason who betrayed her with anothe r woman. Considered as one the best work produced by Euripides, the play has earned the writer several awards including the Dionysian festival awards in 431BCE (Williamson 1) Therefore, the purpose of this paper is to discussRead More Medea, by Euripides - Constructing Medea’s Compelling Persona1194 Words   |  5 PagesMedea, by Euripides - Constructing Medea’s Compelling Persona In the play Medea, by Euripides, many techniques are incorporated to augment the compelling persona of the protagonist, Medea. She has an overpowering presence, which is fashioned through the use of imagery, offstage action and language. Dramatic suspense, employment of the chorus and Deus Ex Machina also serve to enhance the intense persona assumed by Medea. Medea is frequently associated with images of violence and rage. â€Å"She’sRead MoreMedea As A Feminist Hero1378 Words   |  6 PagesIn Euripides, Medea is portrayed as a feminist hero. In a society where men are clearly the dominant figure, Medea stood her ground and allowed no man to change her views. The society stereotype where men are the more powerful, dominant gender was definitely prevalent and recognized in Ancient Greece at the time. Women living in this society were discriminated against daily and were looked at as less important. Medea was a play meant to show the unequal treatment of women in Greek society during

The Hopelessness Theory of Depression - 1798 Words

In my literary research review, I will look at articles presenting research on the effectiveness of Cognitive Behavioral Therapy on those who are suffering from depression. The articles will be discussing Cognitive Behavioral Therapies effectiveness on those of different ages and genders. The literature will research and review quantitative and qualitative studies and what their outcomes revealed. Research on the effectiveness of Cognitive Behavioral Therapy (CBT) for those who are suffering from depression shows that in the short term, the effectiveness is similar in results to medical interventions. However, in treating depression for a long time, Cognitive Behavioral Therapy is shown to be successful. The additional information learned†¦show more content†¦Ã¢â‚¬Å"In a follow-up study conducted twelve months post-treatment showed that relapse rates were lower among patients who received Cognitive Behavioral Therapy (39%) versus those who received antidepressant medication (65%)†. (Hollon, Shelton, Loosen, 1991) Cognitive Behavioral Therapy is also an excellent therapy for the elderly; studies have shown improvement in emotional functioning with its use. Cognitive Behavioral Therapy studies show that using it for treatment is a good way to address several complications in the elderly, which not only includes depression, but also helps with issues such as anxiety, substance and alcohol abuse and problems with their physical bodies, mobility, and other medical problems. (Satre, Knight, David, 2006) Highlighting the empirical studies of the patient’s thoughts, evaluations, interpretations and expectations separated Cognitive Behavioral Therapy from other forms of psychotherapy. The outcome of several studies yield comparable results in elderly people who receive Cognitive Behavioral Therapy when compared to results stated from the studies of the under-65-year old age group. The conclusion of these studies is that both young and old can benefit from Cognitive Behavioral Therapy (Laidlaw, 2001) Satre, Knight, David, (2006) also show in their article howShow MoreRelatedThe Hopelessness Theory of Depression776 Words   |  4 PagesThe hopelessness theory of depression is a reformulated theory of helplessness and depression. Hopelessness depression is a proposed subset of depression with strong implications about the power of perception. There are many negative symptoms, which accompany hopelessness depression. Hopelessness is the sufficient cause of hopelessness depression and is a phenomenon, which deserves a lot of attention. This paper reviews the various elements of hopelessness depression, reviews its causes and consequencesRead MorePositive, Positive And Positive Psychology1413 Words   |  6 Pagessadness and emotional problems (Ciarrochi et al., 2007), low levels of depression and anxiety (Snyder et al, 1997) and students with high hope have reported feeling more confident and motivated compared to students with low hope (Snyder et al, 2002). Moreover, Lazarus (199 1), has identified hope to be a coping mechanism for individuals that are dealing with stressful, painful or traumatic life experiences. Hopelessness is the inclination that circumstances will not improve or the belief thatRead MoreAaron Beck Youngest Of Five Children1634 Words   |  7 Pagesbehaviors such as depression. â€Å"Beck struggled to find a way to help his depressed client’s better capture their emotions. He realized that many of his depressed clients experienced recurring negative thoughts and that as long as they believed these thoughts to be true, they would continue to have symptoms of depression†(GoodTherapy.org). Beck spent much of his career at the University of Pennsylvania and advocated for the application of cognitive behavioral therapy in the treatment of depression and otherRead MoreThe Client With Anxiety And Depressive Symptoms1377 Words   |  6 Pagesto a professional counselor by his family physician. He has been experiencing severe symptoms of depression and anxiety that has a 3 month duration and has been progressively getting worse. He has admitted to thoughts of suicide ideation an option, feelings of hopelessness and is unsatisfied with his life, hence, questioning his existence. He has disclosed a pattern in his family of paternal depression from both his father and grandfather along with negative feelings towards his father, feeling persecutedRead MoreAaron Beck, An American Psychiatrist1188 Words   |  5 Pagesbehaviors such as depression. â€Å"Beck struggled to find a way to help his depressed clients better capture their emotions. He realized that many of his depressed clients experienced recurring negative thoughts and that as long as they believed these thoughts to be true, they would continue to have symptoms of depression†(GoodTherapy.org). Beck spent much of his career at the University of Pennsylvania and advocated for the application of cognitive-behavioral therapy in the treatment of depression and otherRead MoreMajor Types Of Major Depressive Disorder ( Mdd ) Essay927 Words   |  4 Pagesthe most common psychological dis orders. Bipolar Disorder (BD) is a psychiatric mood disorder that is characterized by dramatic and unpredictable mood swings. Symptoms include severe depression, euphoria, distractibility, irritability, and grandiosity. Usually patients diagnosed with bipolar disorder can have depression as the initial onset symptom. There are three types of BD: Bipolar I Disorder, Bipolar II Disorder, and Cyclothymia. Bipolar I Disorder includes at least one lifetime manic episodeRead MoreDiagnosing Bipolar Disorder659 Words   |  3 Pagesperson with bipolar disorder spends in state of depression, manic, hypomanic, mixed, or cycling. Biplore 1 When a person experiences at least one but more manic episodes, alternating with major depression, sufferers with mania episodes have periods of rapid cycling which can be excessive or sometimes combative demeanors. These emotional states go from one extreme to the other. This emotional state will is followed by periods of withdrawal, and hopelessness. When these episodes become constant or tooRead MoreThe Interaction Of Cognitive Therapy878 Words   |  4 PagesCognitive Therapy (ICS) Study An accruing relapse of depression is hard to overcome nevertheless; preventing these relapses is the key. The length of depression constitutes a major problem in the treatment of depression. However, many evidences suggest that psychological treatments have been withdrawn to the many treatment trials that have been found in cognitive therapy such as drugs or different types of therapy that defends against depression. â€Å"The preventive interventions such as the drugs operateRead MoreTheories About Perfectionism And Suicidal Ideation, And Its Dimensions On Depressed Adolescent Patients1334 Words   |  6 Pages The psychological study by Paul.L Hewitt and Gordon L.Flett investigated the theory about perfectionism and suicidal ideation, and its dimensions on depressed adolescent patients. According to this article, we could say that researchers used for this study correlational method, which comprises sample data based on five independent variables such as perfectionism, str ess, daily hassles, hopelessness, and suicide potential. The sample data consisted of 55 adolescents, who completedRead MoreDiscuss the Effectiveness of Cbt as a Treatment for Depression1428 Words   |  6 PagesDiscuss the effectiveness of CBT as a treatment for depression Cognitive Behavioural Therapy (CBT) is a talking psychotherapy that is now commonly available through general practice as a low cost alternative treatment to antidepressant drugs. Individuals with depression, a mood disorder, are found to have low levels of neurotransmitters (Schildkraut, Green amp; Mooney, 1985) and were traditionally treated with selective serotonin re-uptake inhibitors (SSRIs). According to NHS statistics, SSRIs

Hi-Fi Financial Analysis free essay sample

The question asks us to compare and evaluate JB Hi-Fi’s calculated ratio report, with that of the retail industry ratio report (Potter, Libby, Libby, Short p. 1133). The retail ratio report is comprised of a basket of listed companies which operate under the retail banner, which makes it relevant to use as a comparison to JB Hi-Fi. 1. Liquidity ratios are a class of financial metrics that is used to determine a companys ability to pay off its short-terms debts obligations. Generally, the higher the value of the ratio, the larger the margin of safety that the company possesses to cover short-term debts. Table 1: Current Ratio Current ratio: This ratio measures whether or not a firm has enough resources to pay its debts over a twelve month period, comparing its current assets, with its current liabilities. | 2010: 1. 25| 2011: 1. 45| Industry: 2. 67| Comparison: The industry average of 2. 67 indicates that for every dollar owed, companies, on average will have . 67 available in assets to convert into cash in the short term. From the JB Hi-Fi data calculated, it is interesting to note that current ratios of 1. 45 in 2011 and 1. 5 in 2010 are significantly below the industry average. However, this is not too concerning because JB Hi-Fi still have a ratio above 1, and therefore would still be able to meet their current obligations. The lower figure may be explained by the fact that JB Hi-Fi may have a high turnover of current assets, such as stock, which if sold before accounts payable become due, would decrease the current ratio. Table 2: Quick Ratio Quick ratio: This ratio examines a firm’s ability to use its quick assets to extinguish its current liabilities immediately. Inventory or stock is generally excluded from this equation in order to produce a more accurate account of the firm’s ability to meet its short term obligations| 2010: 0. 33| 2011: 0. 27| Industry: 1. 92| Comparison: The quick ratio measure’s an organisations ability to meet its current obligations with its most liquid assets. As inventory might not be turned into cash as promptly as other current assets, the quick ratio follows a more conservative approach than the current ratio and excludes inventory from current assets. JB Hi-Fi’s quick ratio declined from 0. 33 to 0. 27 in 2010 to 2011 which are both alarmingly low from that of the industry’s quick ratio of 1. 92. The organisation is clearly lacking in meeting its prompt liquidity requirements. 2. Activity ratios assess a firm’s ability to convert different sectors of the balance sheet into cash or sales. Table 3: Inventory turnover Ratio Inventory turnover: This ratio measures the flow of stock within a certain time period. It assesses how long it takes for stock to be sold within a business. In this case, the industry report indicates an average of 50 days inventory turnover throughout the retail industry. This is in comparison to 58. 67 (2011) and 56. 30 (2010) days it took JB Hi-Fi to move on stock within the business. These numbers hold up quite well to the industry average when taking into consideration the number of 45 firms used in the calculations. JB Hi-Fi takes approximately 7 days longer than average to move on their inventory, which in the scheme of things is a relatively insignificant difference. Table 4: Accounts Receivable Ratio Accounts receivable: This ratio measures a firm’s effectiveness in extending credit as well as being able to collect debts| 2010: 1. 45| 2011: 1. 34| Industry: 25. 78| Comparison: In this situation, the retail sector average is 25. 78 days taken to receive cash from customers, compared to 1. 34 (2011) and 1. 45 (2010) days for JB Hi-Fi to collect its money from its debtors. This is positive for JB Hi-Fi as it indicates that it performs extremely well when it comes to collecting from debtors. The company’s figures are well below that of the industry average which is a positive achievement for JB Hi-Fi, as they are able to receive money quickly for credit sales. Table 5: Fixed Asset turnover Ratio The fixed-asset turnover: This ratio measures a companys ability to generate net sales from fixed-asset investments| 2010: 11. 03| 2011: 11. 25| Industry: 5. 26| Comparison: Here the industry average is 5. 26 times, compared to JB Hi-Fi’s figures of 11. 25 (2011) and 11. 03 (2010) times. This indicates that JB Hi-Fi is able to generate greater sales from its fixed assets, when compared to the market average. Generally, firms with a higher fixed asset turnover are successful in getting the most out of their assets, and in turn are able to generate higher revenues. Here JB Hi-Fi outperforms its sector, and this indicates that it is in a strong position to generate sales from the assets it has available. Table 6: Total Asset Turnover Ratio Total asset turnover : This ratio measures the efficiency of a company’s use of its assets| 2010: 3. 97| 2011: 4| Industry: 3. 17| Comparison: This ratio calculates the amount of sales generated for every dollar worth of assets. The retail average is 3. 17 times whilst JB Hi-Fi is slightly higher at 4. 00 (2011) and 3. 97 (2010) times. This indicates that JB Hi-Fi may have lower profit margins, when compared to the rest of the industry. This may be explained by the fact that JB Hi-Fi is more cutthroat and competitive when it comes to pricing, trying to gain as many sales as possible. Table 7: Days Payables Ratio Days payables: This is a ratio which examines the swiftness of a company in paying their creditors or suppliers. | 2010: 48. 09| 2011: 46. 73| Industry: 58. 83| Comparison: Days payables are a ratio which examines the swiftness of a company in paying their creditors or suppliers. The industry average for this ratio is 58. 83 days, indicating it takes this long on average for the retail industry to pay for its supplies. In comparison, JB Hi-Fi took 46. 73 (2011) and 48. 09 (2010) days on average to pay its creditors, in the given years. This represents a different of almost two weeks, which, when considering companies want their money as quick as possible, leave JB Hi-Fi with a positive reputation amongst its suppliers. The benefits of having a lower ratio in this situation may be that JB Hi-Fi receives a discount on credit deals for having paid in a shorter period. However, companies must be careful to avoid letting cash flow out of the business too quickly, if there is no reasonable gains to be made. This can be viewed as an advantage and a disadvantage as the company can hold off paying the creditors’ this quickly and invest the funds in generation of more revenue. 3. Profitability ratios are important when assessing the profitability of a business. They give management useful insight into where and how they can improve the operations of a business. Table 8: Net Profit Margin Ratio The net profit margin: This ratio show the proportion of every dollar of sales that is left after all expenses has been paid, and remains as net profit. | 2010: 4. 34| 2011: 3. 71| Industry: 2. 45| Comparison: Although it is difficult to accurately compare profit ratios for different entities, as financial arrangements and expenditure vary greatly from business to business, it is valuable to compare how JB Hi-Fi stands up to the rest of the retail sector, in terms of profitability. The net profit margin is 2. 45% for the retail sector, whilst JB Hi-Fi operates at 3. 1% (2011) and 4. 34% (2010), which indicates a reasonably higher net profit margin. This may indicate that JB Hi-Fi carries a higher margin of safety and less risk, compared to the average retail sector net profit, as a decline in profits would leave less of a strain on JB Hi-Fi. Having a higher net profit margin than the sector average leaves JB Hi-Fi in a good position to be a strong performer within the industry. Table 9: Return on equity Ratio Return on equity: This ratio indicates the amount of net income returned as a percentage of shareholders’ equity| 2010: 45. 1| 2011: 49. 23| Industry: 16. 8| Comparison: Return on equity measures a corporations profitability by revealing how much profit a company generates with the money shareholders have invested. The sector average for return on equity is 16. 8%. Return on equity ratio measures the corporations profitability by revealing how much profit a company generates with the money shareholders have invested. In the case of JB Hi-Fi this ratio is very high compared to that of the industry. With 45. 41 in 201 0 the ratio increased to 49. 23 in 2011. Table 10: Return on assets Ratio Return on assets: This ratio shows how profitable a companys assets are in generating revenue. | 2010: 25. 45| 2011: 21. 95| Industry: 7. 77| Comparison: Here the retail average is 7. 77% whilst JB Hi-Fi is almost triple at 21. 95% (2011) and 25. 45% (2010). This shows that JB Hi-Fi is superior to its industry average and its assets are highly successful in generating revenue. It shows that JB Hi-Fi management is successful in utilising assets correctly and gives them an advantage over the competition within the retail industry. Return on Assets ratio gives an idea as to how efficient management is at using its assets to generate earnings. This ratio declined from 25. 45 to 21. 95 in the case of JB Hi-Fi but was still high in comparison to that of the industry’s ratio of 7. 77. The higher the ROA number, the better, because the company is earning more money on less investment. Table 11: Quality of income Ratio Quality of Income: This Ratio is computed by dividing Cash Flow from Operating Activities by net income. | 2010: 128. 19| 2011: 100. 23| Industry: 7. 03| Comparison: As the ratio indicates the proportion of income that has been ealized in, high levels for this ratio are desirable. In the case of JB Hi-Fi these ratio showed a decrease but they still remained well above the industry ratio. 4. Leverage ratios are ratios used to calculate the  financial leverage of a company to get an idea of the companys methods of financing  or to measure its ability to meet financial obligations. Table 12: Times interest earned Ratio Times Interest earned: This ratio indicates the number of times a company can cover its interest charges on a pre-tax basis| 2010: 25. 17| 2011: 25. 94| Industry: 64. 2| Times interest earned or interest coverage ratio is a measure of a companys ability to honour its debt payments. It may be calculated as either EBIT or EBITDA divided by the total interest payable. In this case, the sector average is 64. 72 times whereas JB Hi-Fi had the figures of 25. 94 (2011) and 25. 17 (2010) times. Clearly, JB Hi-Fi differs significantly from the sector averages, however both figures are significantly greater than 1 and therefore there does not seem to be a problem for JB Hi-Fi to meet its obligations. Table 13: Asset/equity Ratio The asset/equity ratio shows the relationship of the total assets of the firm to the portion owned by shareholders, also known as owner’s equity. | 2010: 2. 63| 2011: 3. 32| Industry: 2. 16| Comparison: Assets/Equity leverage ratio measures the company’s capacity to generate assets from its shareholders equity. Both in 2010 and 2011, the Asset/Equity ratio was higher than the industry ratio. However the difference between these ratios is only minimal. 5. Dividends identify the percentage of earnings (net income) per common share allocated to paying cash dividends to shareholders. Table 14: Dividend Yield Ratio Dividend yield Ratio: This is the companys total annual dividend payments divided by its market capitalization, or the dividend per share, divided by the price per share. | 2010: 3. 29| 2011: 4. 75| Industry: 4. 75| Comparison: The dividend yield or the dividend-price ratio on a company stock is the companys total annual dividend payments divided by its market capitalization, or the dividend per share, divided by the price per share. This ratio reflects how much a company pays out in dividends each year relative to its share price. The dividend yield ratio was relatively the same for JB Hi-Fi in comparison to that of the industry. Table 15: Price Earnings Ratio Price Earnings Ratio: This ratio is a valuation ratio of a companys current share price compared to its per-share earnings. | 2010: 17. 18| 2011: 16. 77| Industry: 12. 16| Comparison: Price/earnings ratio is the valuation ratio of a companys current share price compared to its per-share earnings. This ratio was high in 2010 which decreased in 2011. Both of these ratios, however were high than the industry ratio. In general, a high P/E suggests that investors are expecting higher earnings growth in the future compared to companies with a lower P/E. Investor recommendations Looking at both the liquidity and activity of JB Hi-Fi, we can make a determination of the stability of the business through their ability to pay debtors and their earnings through everyday operations. JB Hi-Fi’s liquidity to repay short-term debts is positive; however, looking at the quick ratio, they are unable to meet their obligations in the short-term. Because they operate with high levels of stock, up to $400 Million at the end of the financial period, this may paint JB Hi-Fi in a negative light. When looking at collection of debts, JB Hi-Fi’s business model ensures that debts from customers are collected within a staggering 2 days. This is perhaps reliant on the financing institutions JB Hi-Fi has partnered with that enable a quick turn around in collecting sales on credit. This is an extremely positive aspect of the business and management of JB Hi-Fi to remain liquid. The generation of sales from assets shows that JB Hi-Fi is able to move vast quantities of stock, resulting in net sales of $3 billion. Such a figure enhances the fixed asst turnover, yet remains steady in comparison to the industry total asset turnover. The total asset turnover ratio suggests that JB Hi-Fi is generating huge sales, yet their profit margins remain low. JB Hi-Fi’s net profit has remained higher than industry averages, and indicates management’s ability to generate sales from the assets it has at their disposal. JB Hi-Fi’s profitability, although waning in 2011, shows that they are a strong performer in the current climate. Quality of income shows that the proportion if income that has been realised as cash. As for JB Hi-Fi, they have a very high cash turnover, and their ability to generate cash flows is extremely strong as compared to the industry average. The ability to repay debtors is relatively on par with the industry average. Yet, it shows JB Hi-Fi still have substantial cash flow in paying creditors, as there is a substantial difference in COGS and accounts payable, to the order of $2 Billion paid to suppliers and other creditors throughout the period. JB Hi-fi’s ROE and ROA ration is almost triple the industry average. It shows that JB Hi-Fi management is highly successful in generating revenue and utilising assets correctly. However, in terms of leverage, times interest earned was only 40% of the industry average and its financial leverage is almost 50% higher than the industry average. It is suggested that JB Hi-Fi should not extend its finance liabilities from the creditors to finance its further investment as the currently level is already high. But, according to Bell (2012), management is persisting with the store rollout 16 will open in 2012, while the meantime the margin has been squeezed due to industry changes. There is no more serious threat, that the company will become a high-volume, low-margin retailer. Investing capital in to a declining business such like this will only things worse. However, if they stop rolling out more stores, the leverage will not become a major concern at this point of time as their earnings can cover 25 times of its interest. Evidence can be seen from positive financial leverage percentage (ROE-ROA0). JB Hi-Fi’s price earnings ratio is higher when compared with the industry average. However, this ration decreased in 2011. Which suggest that investors are expecting lower earnings growth in 2011 than 2010. The dividend yield for JB Hi-fi is the same as the industry average in 2011 which increased from 2010’s 3. 29% to 4. 75% and annual dividend increase from 2010’s 62c to 81c in 2011. Its shows, that the JB Hi-Fi has adopted the policy to increase its dividend for shareholders, as the lower growth expectation from investors. This made the company more attractive for investors who looking for regular cash flow. Based on the financial analysis, we believe that JB Hi-Fi will keep performing in the areas of business activity, profitability and paying an attractive dividend. However, investors have to pay attention to its financial leverage and liquidity to pay its creditors to avoid the risk that the company may become insolvent.

Is Social Life More Important Than free essay sample

That does not mean that, social life is to important but equally important. Both need to be managed equally. Well, the difference is, academics take you far in life and it determines your success and quality in your future life. According to JEFF KELLY JANUARY 20, 201 3, in his Poorly Educated But Incredibly Successful People, he clearly listed the 10 great people who are successful in life in spite of less educated. All these 10 people proved that education is just a base for once knowledge but does not became a base for ones success in life. Also, Accordingly to Robert Sukiyaki, Posted on: Tuesday,April 09, 201 3, 50 Extremely Successful People Who Never Finished School, he stated that, school does not a make a person successful because it does not teach financial education. In fact of the successful people are successful in life without finishing his school. He supported his article by giving example of people who never finished their school but are successful in their life. We will write a custom essay sample on Is Social Life More Important Than or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Few of them are, George Washington, President of the Ignited States, Abraham Lincoln President of the United States, John Major, Prime Minister of England, Winston Churchill Prime Minister of England, Ray Crock Founder ofMcDonalds, John D. Rockefeller, Founder of Standard Oil and may more. There are many students who wrote their views in a blob stating that, education is important but social life is more important. Few of them stated that education is important and few stated that, social life is important. And some feel that, both are important. They also stated that, education is more important for a better and a secure future. At the same time, they would get insane, if they just keep studying all the time. It is true that, people who are just stuck up with education all the time would definitely get insane.Education is defiantly important, but that does not mean that, education alone is important. Social life for one self is more important, and education is only important for a better and a quality life. It is important to know that, personality of each individual takes form from family, education and social life. For example, a child learns as he grows, firstly he learns from his mother, then he tends to learn from his family, and then as he grows and is put in school, even before learning things from education and academics, he tends to learn things from other children. He tends to learn their habits. He learns what life is, from his friends. He faces different phases of life with different experiences that he comes across. He fails and get up and still strive to achieve the set goals in life. All these experiences are not thought in any educational system or any school or colleges. All these are learnt by social life alone. A explores new things, his innovation thinking starts from looking at others, his ideas comes from looking at different things around him where in, he is actually not learning these things from educational system. Of course education is very important or ideas to be put into practice and for reorganization and a quality life.But it is more important to know that even teachers in schools and colleges wants children to think out of the box, they want them to things differently than mentioned in the books. Everyone wants things to be put in differently and that is what makes a person special and different and is recognized as talented. Social life definitely is a healthy way of growing and we can learn from them although it is a different kind of learning. Whereas, academics can expand your enlightenment by making you see things in a different way. There are many reasons to say that Social life is more important.Every individual should have social life because that leads to personal growth of an individuals personality. If a person is highly educated and does not have a social life, he is actually called as a book worm and he might not know how to interact with people and how to actually jell up with people. That may actually affect him down the line irrespective of the good position he is placed in life. He cannot be a good manager if he does not know how to interact with people around him and how to get work done through them. Just educational knowledge would not teach an individual to manage people.But being social would teach how to interact and manage people and this in turn helps in growing the work in success terms. Also, a good social life, will lead to having a lifelong good connections with people which will actually pay off in unexpected and good ways. Even Bloom, who met his catering business partner at the University of California, reported the Chronicle of Higher Education in May 201 1 . A fraternity alumnus also helped Bloom land his first major job, as a construction manager, after graduation. Also, social life also leads to great release of stress. Connecting with other people is important for incoming students as they adjust to new living arrangements and relationships, according to the university of Illinois at Urbana-Campaigns counseling office. Also, not all learning experiences in ones life come from classroom experience or lecture hall. But it also comes from interacting with different people and sharing their common views. Social life improves in Social Circles, Exposure to Diversity, leads a person to have Self-confidence, builds up Relationships and networking and acts as a tress buster. According to Kaufman Domain, 08/18/2013, Education carries its own importance.He wrote in his article how education played a major role and what importance it carried out. He stated how he could achieve his goal to become a software engineer by working hard by studying. He stated that education is a knowledge gaining aspect. He ended his article saying that, education makes us capable of interpretation things among other things. He stated that, it is not just about lessons in text books but also about lessons in life. He feels that, education will lead an individual to have a quality fife and thus feels that he wish he could provide education for all the uneducated children. Education is important in its own ways.Education reflects of a good civilized human as civilization has progressed by innovation in education since periods. Also, education spreads awareness in society about how we can be a good social being and help others in our daily life. It helps in removing blanket of ignorance and help people in knowing them their fundamental rights. It also, help in imparting moral values which is missing in our youth and needs to be addressed carefully for creating a good society. Also, is important to earn money and to refine oneself, it need not be math or science or something u learn at schools it can be common etiquette or something from Internet.Academics are considered as the most important aspect in human life around the world. Even if people with great talent they do not have education, they are actually not respected in the society. Unless, a person having a strong will like few of the great people who had strong will to grow up in life irrespective of their uncompleted school life. We also see that, now a day, education system holds huge money and parents are in turn investing lot of money to educate their kids. This shows that, parents are keen about giving the best and quality life to their children.There are many of the reasons, why education has its own importance. Firstly, academics help a person to read, write and speak. This is very important to even build our social life. Without which, social life cannot be built. It helps to communicate properly. Helps in learning managerial skills which would help a person to grow his business of even work. It the main cause for raise in the employment opportunity. Mainly, it helps him to earn his bread at any place and anywhere. For the economic growth of the nation. To turn your dreams into reality. To overcome superstitions beliefs.Helps you understand the world that youre living in It is very important to know that, education and social life are the importance aspects of life and they actually lead a person to develop his personality. Each play its own importance and each are connected with each other for the best and quality life for an individual. Education helps a person to learn to read, write, learn and communicate. And this in turn helps to communicate with other people around the world and improves our social life. Education may or may not help a person to live life.But, social life is very important for an individual to live life. For example, beggar for the road, or a kid working in a shed, still make their living each day with no education. Only thing is, they do not have a quality life like all others. Whereas, an highly educated person with no proper social connections may fail to be successful in his business with improper good connection, which may actually lead him for a better success at work and growth of his business. Thus, I conclude that, both social life and academics carry their own importance.We need to learn to balance our both social and academic life accordingly. Every individual should know the importance of both social life and Educational life. So that, every child is given the opportunity to learn the book knowledge and also learn things from life experience through social life. One thing every individual should remember is, social life can be caught up any part of life and every individual without ones knowledge get into having social life. But, education is just one way path. Life gives us just one change to get educated in the right time and at the right age. Once we grow old, we tend to fall into different commitments of life and we fail to get educated further. That is the reason; every parent would make sure that they join their children in school at the age of 2 or 3. It would not be nice, for 10 year old kid to get back to class one and the fundamentals of education again. So, this has to be kept in mind that, life gives us just once chance to be educated at a certain time. And every individual should know its importance and act accordingly. References Kidnap, A. (201 3, July). Top 1 5 Reasons why Education is Extremely Important.

Child LaBOR essays

Child LaBOR essays Child labor is a serious problem in many parts of the world, especially in developing countries. Labor is defined as physical or mental work especially of the hard or fatiguing kind. (Websters Dictionary) Child labor usually means work that is done by children under the age of 15, which restricts or damages their physical, emotional, intellectual, social, or spiritual growth as children. The International Labor organization estimates that there are 250 million children worldwide, between the ages of 5 and 14, who are now working. Africa and Asia together account for over 90 percent of total child employment (Faraaz Siddiqi) Child labor is especially common in the rural areas of these countries. Usually there are no age requirements for schooling or for work. There are many reasons that these children work; poverty, lack of education, lack of knowledge of ones rights and cultural tradition are all contributing factors. These children are often working in severe and hazardous conditions. These children are deprived and mistreated. They are often beat or severely punished for making even the slightest mistakes. They receive low wages and perform tasks that are usually the work of adults. The International Labour Office reports that children work the longest hours and are the worst paid of all laborers. These children can be found working on farms, in factories or mines, and even fighting in wars. Much of the nations farmland is worked by toddlers, yokes teams of three-, four-, and five-year-olds who pl ough, seed and glean fields from dawn to dusk. (Jonathan Silvers) Three types of bonded labor exist in practice around the world. The first type involves a child inheriting a debt carried by their parents. The enslaved parents find no alternative except to essentially turn over the rights of their child to their masters. Another form of bonded labor occurs with a child being used...

How to Celebrate Chinese New Years Day

How to Celebrate Chinese New Year's Day Chinese New Year is the most important and, at 15 days, the longest holiday in China. Chinese New Year begins on the first day of the lunar calendar, so it is also called Lunar New Year, and it is considered the beginning of spring, so it is also called Spring Festival. After ringing in the New Year on New Years Eve, revelers spend the first day of the Chinese New Year doing a variety of activities. Wear New Clothes Every member of the family starts the New Year off right with new clothes. From head to toe, all clothes and accessories worn on New Year’s Day should be brand new. Some families still wear traditional Chinese clothing like qipao but many families now wear regular, Western-style clothing like dresses, skirts, pants, and shirts on Chinese New Year’s Day. Many opt to wear lucky red underwear. Worship Ancestors The first stop of the day is the temple to worship ancestors and welcome the New Year. Families bring offerings of food such as fruit, dates, and candied peanuts and burn sticks of incense and stacks of paper money. Give Red Envelopes Family and friends distribute ç ´â€¦Ã¥Å'…, (hà ³ngbÄ o, red envelopes) filled with money. Married couples give red envelopes to unmarried adults and kids. Children especially look forward to receiving red envelopes which are given in lieu of gifts. Play Mahjong Mahjong (é º »Ã¥ °â€¡, m jing) is a fast-paced, four-player game played throughout the year but particularly during Chinese New Year. Learn all about mahjong  and how to play. Launch Fireworks Starting at midnight New Year’s Eve and continuing throughout the day, fireworks of all shapes and sizes are lit and launched. The tradition began with the legend of Nian, a ferocious monster that was afraid of red and loud noises. It is believed the noisy fireworks scared the monster. Now, it is believed the more fireworks and noise there are, the more luck there will be in the New Year. Avoid Taboos There are many superstitions surrounding Chinese New Year. The following activities are avoided by most Chinese on Chinese New Year’s Day: Breaking dishes bring bad luckGetting rid of trash sweeping away good fortuneScolding children signs of bad luckCrying signs of bad luckSaying inauspicious words signs of bad luckSweeping the floor bring bad luckWashing hair bring bad luck

Who Were the Villains of Roosevelts Famous Address Essay - 3

Who Were the Villains of Roosevelts Famous Address - Essay Example Roosevelt did this for both political and personal reasons because in doing so he was assured of letting the people know that he was aware of their suffering and that he would fight for the small man, not large corporations.Roosevelt clearly addresses banks and big business as the villains of the nation at that time. He states, â€Å"The rulers of the exchange of mankind’s goods have failed, through their own stubbornness and their own incompetence, have admitted their failure, and have abdicated.† Roosevelt was speaking directly to the people about those that had been in business, had made their money in the stock market and by credit, and had found that, once the market crashed, it was no longer a viable playground. Overnight those that had money suddenly did not, and neither did the rest of the country. Roosevelt also spoke of their unnecessary existence by saying, â€Å"Happiness lies not in the mere possession of moneyÍ ¾ it lies in the joy of achievement, in the thrill of creative effort.† In this way, he was also denouncing those that had made their money in the stock market, for too many had been eager to sink everything that they possessed into it, only to find that the promises that had been made were empty.Politically and personally, Roosevelt made no assumptions that fixing the country of its problems would take place overnight, but rather invited people to stay with him for the long haul. In denouncing the banks and big businesses, he let people know that, first and foremost, he was not out of touch with the woes of the common person. Roosevelt knew that people were suffering. He also knew both politically and for the good of the country as well as his presidency that he had to unite them and show them that their suffering was something to be endured together, as was rebuilding the country. He even made sure to let the people know that things would change without the usual political red tape, stating that he would ask Congress , if they failed to take his recommendations into account, for â€Å"broad Executive power to wage a war against the emergency.† By doing this, he made sure that the people knew that he was behind them, not big businesses, and would work to put them back to work and see the nation back on the road to prosperity.

Linguistics Examine the idea that adult second langauage learners of Research Paper

Linguistics Examine the idea that adult second langauage learners of English are capable of retaining the collocations to whi - Research Paper Example TABLE OF CONTENTS Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 Thesis Statement†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.4 Methodology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...4 Preliminary Results and Discussion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....5 Study Implications†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦7 Work Plan†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 INTRODUCTION Formulaic language has been playing a key role in second language teaching. A beginning learner utilizes more idiomatic English expressions focused on daily communication templates. Alison Wray’s (2002) definition of a formulaic sequence of words has been the most popular one: â€Å"Formulaic Sequence is a sequence, continuous or discontinuous, of words or other elements which is, or appears to be, prefabricated: that is stored and retrieved whole from memory at the time of use, rather than being subject to generation or analysis by the language grammar" (Wray, 2002, p. 9). Wray claims that the adult learner primarily is more focused on individual words and is concentrated on a non-formulaic approach to language learning (Lewis, 2000a; b). This thesis is devoted to identification of an ability of adult language learners to retain information about what words appear together in their input of adj+noun pairs, verb+noun pairs, and or noun+noun pairs. It is supposed that any drawbacks in non-natives’ knowledge of collocation associations between words is caused by an inadequate input. THESIS STATEMENT The fluency-oriented repetition of individual sentence contexts has an impact on collocation learning for L2 learners, and thus participants will primarily notice and remember c hunks of words in their input through an organized testing process using the adj-noun, verb-noun, and noun-noun pairs placed in a sentence. METHODOLGY A general selection criterion was a key trigger for my further research. Theoretical background is based on relevant academic articles, academic texts, and books. The participants were asked to undergo a short training session in which they were exposed to a number of target adjective-noun, verb-noun, and noun-noun combinations embedded in sentences called a â€Å"naming phase.† Sentences were presented to participants on a computer screen in a random order. The participants were asked to say the noun aloud if they recognized it. The respondents are Spanish speaking Americans. All the participants are enrolled in one or two of the ESL programs for a L2 learner of English within their city’s community base. They are all lower level income participants, with lower level educational backgrounds. PRELIMINARY RESULTS AND DISC USSION Of the adjective+noun, verb+ noun, and noun+noun word pairs, the nouns were recognized more reliably when they followed the verb with which it was paired. These collocations were easily

How Global Issues Affect the Whole World Essay Example for Free

How Global Issues Affect the Whole World Essay Thematic Essay- How Global Issues Affect the Whole World BY codi5181 Global issues today cause tremendous problems to the whole world. Even today, issues such as terrorism, the environment, population, global migration, urbanization, and economic instability plague our world. The most crucial of these problems being religion-based terrorism, urbanization and population, and environmental pollution and destruction. Terrorism is mostly linked to differences in opinion between different sects ofa religion, an example being Muslim extremists. Muslim extremists in the Middle East have radical opinions on the details of their religion. The IRA in Ireland terrorizes anyone who goes against their ideals. Terrorism is caused when one group of radicals feels the necessity to attack another group. In addition, terrorism can be caused when one group feels that they are doing the right thing, when in the eyes of someone else, these same actions could be offensive and could cause unrest. Like the United States Christians who gave aid to the Christians in Ireland. The UN has ways to deal with unrest between countries, and has peacekeeping committees to try to stop terrorism before it starts. In order to stop errorism in the Middle East, there must be a clear separation of secular and state. The sharia in Muslim countries does not have laws that provide protection against modern day technology and advances in culture. The Middle Eastern countries that are ruled by religious laws have to start to regulate weapon usage and the availability of explosives and other dangerous chemicals. An increase in the global population greatly affects many aspects of everyday life for everyone in the world. Population increases causes a vicious cycle of urbanization. Urbanization is the movement of eople from rural areas to cities in search of employment opportunities and a education. Urbanization is caused by an increase need for employment. People who live in rural areas have a lesser availability of Jobs and resources, so moving to the city makes this easier on them. People quest for a better life, and education causing people to move into the cities too. Cities such as Beijing and cities in India and China are mostly affected by urbanization because of the massive amount of people who reside in these countries. Some countries have put in place different laws and olicies to counteract the massive population increase. Chinas one child policy is a supreme example. Countries should limit the amount of people who can move into a city each year. Also, companies can expand into the rural areas and sponsor schools to be set up in the rural areas too. Urbanization in the long run causes a severe increase in global pollution. This problem is caused by the increased need to produce energy. Producing energy usually involved burning fossil fuels. The air pollution causes the Green house effect, which causes the Earth to slowly heat up. Environmental problems like lack of medical cures and oxygen level decreases are caused by human deforestization. International committees are set up to limit what humans can do with natural resources. For example, factories must scrub the emissions free of toxins and people can no longer use CFCs. To solve the problem of global pollution, countries must find alternate ways to create energy, rather than interconnected. Everything that we do can be felt across the globe. International solutions to the problems that plague our world are a necessity. Problems such as pollution, over population, and terrorism can easily be solved.

Workers Need a Living Wage Essay -- Its Time to Raise the Minimum Wag

It's 6:00am and that annoying beep of your alarm is ringing in your ears. You get up, start the coffee maker, shower, and get dressed in your work attire. You start your car and back out of your drive-way before noticing that you're running on the last fumes of your tank. You drive to nearest gas station where you see gas prices have, once again, risen. The aforementioned scenario is only one of many examples of the depreciating value of the dollar. In fact, in the past five years, the CPI-U has increased from 168.8 to 190.7 - that's a 12.97% inflationary increase (Historical CPI)! Sure, to Corporate Joe in his fancy sports car, a few extra pennies for gas isn’t much, but what about the school janitor who is trying to successfully raise a family of four on minimum wage? The most immediate reality behind Living Wage organizing is the dramatic erosion of the minimum wage. Even with the 1996 increase to $5.15 an hour the buying power of the minimum wage is still 30 percent below its peak in 1968. This is true despite the fact the economy was about fifty percent more productive than in 1968. A minimum wage that had kept pace with productivity gains would be roughly $11.20 today (Pollin and Luce, 58). In fact, in 2003 the poverty rate rose from 12.1 to 12.5 percent leaving 35.9 million people at or below the poverty line of $18,660 for a family of four (U.S. Census Bureau). These 35.9 million people trudge through their manual labor occupations day in and day out only to see the (few) dollars they earn slowly depreciate in value. In 1906, John Ryan, advocate of the living wage, wrote "Every man who is willing to work, has, therefore an inborn right to sustenance from the earth and on reasonable terms or conditio... ...ome of the fiscal burden they experience. With the increasingly inflating dollar and therefore the depreciating value of the minimum wage, an implementation of a universal living wage would be the humanitarian thing to do. Works Cited Historical Consumer Price Index. Historical CPI. 2003. 4 March 2015. Pollin, Robert and Stephanie Luce. The Living Wage: Building A Fair Economy. New York: New Press, 1998. U.S. Census Bureau. Poverty 2003 Highlights. 26 August 2004. 25 February 2015. Glickman, Lawrence. A Living Wage: American Workers and the Making of a Consumer Society. Ithaca, NY: Cornell University Press, 1997. Acorn.org. ACORN: About Acorn. 2005. 2 March 2015.

Pag-IBIG Fund Essay

Pag-IBIG is an acronym which stands for Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industria at Gobyerno. In effect, Pag-IBIG harnesses these four sectors of our society to provide its members with adequate housing through as effective savings scheme. Coverage These guidelines shall cover the development and construction of low cost housing units in Metro Manila and highly urbanized cities, and socialized housing units in the provinces by Pag-IBIG Fund. Objectives To provide low-cost and socialized house and lot packages/condominium units either for rent or for sale to low income Pag-IBIG members who cannot afford the housing packages available in the market. To enable Pag-IBIG Fund to perform its mandate by using its funds to provide decent and affordable condominium units as well as house and lot packages for sale to eligible Pag-IBIG Fund members nationwide. To stimulate competition that will bring about better housing packages in terms of price and development that will redound to the benefit not only of Pag-IBIG Fund members but also of the public in general. To help solve the housing backlog by generating further demand for housing through the provision of affordable condominium units and house and lot packages. To equitably distribute nationwide economic opportunities generated from housing production, and in the process, stimulate stability brought about by economic development. To provide an opportunity for Local Government Units (LGUs) to comply with R.A. 7279 by identifying and providing land for socialized housing. To simplify and facilitate the processing of end-user financing for eligible Pag-IBIG Fund members, given that the projects are owned by Pag-IBIG Fund. To develop further sense of ownership, pride and confidence among members of the Fund, knowing fully well that the projects being constructed are direct investments made from their savings with the institution. To generate more membership to Pag-IBIG Fund. To develop and dispose acquired properties of the Fund.

Plan for the Development of Future Situations Requiring Leadership Essay

This assignment is to development a strategic leadership development plan. There includes to report the CEO regarding the review the strategic management and leadership of the organization. In current situation, Myanmar is in the transition period in both political and economic surface. The treaty of ASEAN free trade area which will start impacting Myanmar from 2015 is a challenge for Myanmar SMEs. As usual consequences of change, while some will benefits from it, some will face setbacks. As the current organization is one of the SMEs in Myanmar, change management which is adaptable for the situation of Myanmar has to be made. Moreover the organization has to prepare for the changes and for adapting corporate and up to date management system. Organization Profile KKK is a manufacturer of authentic Myanmar traditional foods including various kinds of pre-packed ready-made ingredients for traditional curry. Their products are positioned at the high end of the market in terms of both quality and price. Head office of KKK is situated in 78th Street, Mandalay. Manufacturing Plant is situated in Chan Aye Tar Zen Industrial zone. The Plant is operating with about 400 employees from top to bottom line operation. KKK has been in business now for five years and has grown in popularity. What was once a business targeting solely the Myanmar traditional Food community has grown into a business that has far broader appeal. KKK has several objectives that they will achieve to maximize share of local market in pre-packed food industry within the next three years. The first is an increase in sales reaching five thousand Lakhs by  Yearly from local market. KKK also would like to achieve gross margins to be above 55%. KKK also hopes to have 20 different outlets that will distribute their product. Yangon outlet is the first step of these objectives lastly the organization is to become known as the premier authentic Myanmar traditional food producer internationally with an ever-expanding geographic distribution area. Task-1 1.1Explaining the link between strategic management and leadership Strategic managementStrategic Management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organization. An organization is said to have competitive advantage if its profitability is higher than the average profitability for all companies in its industry.| | Strategic management is a continuous process that evaluates and controls the business and the industries in which an organization is involved; evaluates  its competitors and sets goals and strategies to meet all existing and potential competitors; and then reevaluates strategies on a regular basis to determine how it has been implemented and whether it was successful or does it needs replacement. (www.managementstudyguide.com, â€Å"Strategic management†) Leadership The ability of a company’s management to make sound decisions and inspire others to perform well. Effective leaders are able to set and achieve challenging goals, to take swift and decisive action even in difficult situations, to outperform their competition, to take calculated risks and to persevere in the face of failure. Strong communication skills, self-confidence, the ability to manage others and a willingness to embrace change also characterize good leadership. ( www.investopedia.com, â€Å"terms leadership†) A simple definition of leadership is that leadership is the art of motivating a group of people to act towards achieving a common goal.( www.sbinfocanada.about.com,â€Å"leadership†) The link between strategic management and leadership Strategic decisions are crucial for the growth and development of any organizastion and vary according to different management and different leadership styles. The change is the function of leadership and strategic decisions means decisions leading to substantial changes in management processes. Hence, Strategic Management and Leadership are closely related or in other words, inseparable. In fact, the terms leadership and strategic management are interchangeable because a leader performs key function like initiating, planning, supporting, controlling, evaluating, etc. Their other responsibilities include building, developing maintaining a team and achieving a common goal by keeping the individual member of the team motivated. As strategic leaders, top level managers must guide the firm in a ways that result in formation of strategic intent and strategic mission. This guidance may lead to goals that stretch everyone in the organization to improve their performance.†Griffin,R.W.1 999 Strategic management is a process of coordinating technological, financial, material and human resources of an organization for enabling it and its stakeholders in achieving stipulated target efficiently and effectively. Strategic  management is a wide term in comparison to leadership as far as scopes are concerned because leadership is mainly limited to organizing, directing and supporting individuals or the human resource in order to achieve the stipulated goal whereas strategic management refers to all resources within an organization. Strategic leadership plays key role in responding to the challenges which businesses have to face due to rapid changes in technology, growing competition and globalization. (www.mbadissertations.blogspot.com, â€Å"link between strategic management†) Strategic objectives of KKK is to maximize share of local market in pre-packed food industry within the next three years. The first is an increase in sales reaching five thousand Lakhs by Yearly from local market. KKK also would like to achieve gross margins to be above 55%. KKK also hopes to have 20 different outlets that will distribute their product. Yangon outlet is the first step of these objectives lastly the organization is to become known as the premier authentic Myanmar traditional food producer internationally with an ever-expanding geographic distribution area. To achieve the strategic goal of the organization, there are should be ways for leaders attempt to get the objectives. Leaders must do to be strategic management. First of all, analysis upon current and future situation has to be made. In analysing current situation, SWOT analysis, PEST analysis techniques can be used. Current situation of Myanmar is lots of challenges. But very near in future, due to the AFTA of ASEAN business from all over the world enter Myanmar and SME’s in Myanmar have to deal with business form ASEAN countries. Our business, traditional food manufacturing and distribution industry has already got more competitive advantage than other industries because the business is based upon traditional food. Leaders of â€Å"KKK† food manufacturing company has to analyze the strength, weakness, opportunities, and threats for the current and situation of Myanmar and foreign market and have to analyze political, economic, social and technological analysis along with the analysis of the internal and external environment of the organization to meet the strategic objectives. In making analysis the current system and infrastructure of â€Å"KKK† food manufacturing has to be considered. More employees need to be trained and more materials have to be required. To open branch offices, communication and cooperation with authorities has to be made. The leaders has to considered whether the raw materials can supply the  demand of the market and transportation condition can be supply the raw in time or not. The leader has to consider the competitors’ strategy in current market. And then decision is the second important matter. In manufacturing, the advanced machine like packing machine, mixing machine and powering machines must be mounted to be more productive. And strategic shop floor management for human resources must be implemented. In Pricing and branding strategies, differentiate with low-cost strategy is suitable for local market. Focus for only traditional strategy is also adequate. Moreover leaders are required to allocate the necessary resources and to design the organization to intended strategy to reality. The leader of â€Å"KKK† food manufacturing should attempt to get the objectives by the following ways in the diagram. Product plan/development Market analysis Distribution Supply chain Infrastructure Manufacturing Raw materials branding Promotion Lead generation Channel sales Direct sales Customer service Warranty support Pricing Customer retention. 1.2 Analyzing the impact of leadership styles and management on strategic decisions There are five main types of leadership styles like Autocratic, Bureaucratic, Charismatic, Democratic, Laissez- faire, etc. (Richard L.H. and Katherine C. B. 2005) 1. Autocratic leadership style: when the leaders use absolute powers in making decisions. This is more prevalent in military and Adolf Hitler is a good example of it. In corporate world, United Aviation Services (Dubai) is known for autocratic leadership. 2. Bureaucratic leadership: when the leader follows the strict theories of leadership defined in books. This style is followed where safety measures are prominent specially working on machines. 3. Charismatic leadership: When the followers are highly inspired by the leader and believe blindly in their leader. Mahatma Gandhi was a Charismatic leader. 4. Democratic leadership: When team members are included in decision making by the leader. This helps in building team spirit and motivating all by increasing trust, skill and confidence. 5. Laissez-faire leadership: When the leader leaves the team members to take decisions n their own and monitors them. This is applicable with efficient and capable teams. ( D.D.Warrick â€Å"Journal of Experiential learning and simulation 1981† ) The culture of â€Å"KKK† Company is manufacturing and distribution. Currently, most of the functions in the firm exercises bureaucratic leadership style. In day to day manufacturing operation, distribution and office work practices Bureaucratic Leadership Style. This style seem to be effective because employees are performing routine tasks over and over. Employees need to understand certain standards or procedures. They are working with dangerous or delicate equipment that requires a definite set of procedures to operate. In manufacturing area, safety or security training is being conducted. Employees are performing tasks that require handling cash. In all day to day operation of â€Å"KKK† food manufacturing, bureaucratic leadership style is currently exercises. The consequence of the current leadership style of â€Å"KKK† is that the organization suffers from slow development to get to the objectives of the organization. In making strategic decisions in manufacturing team the employees felt frustrated and increase turnover rate and absenteeism. In office work and transaction work, the style effects the occurring of the  loop whole. The employees feel boring in working environment and also is suffering from increasing turnover rate. So excising bureaucratic style purely in the whole organizing occur slow development to reach the goal. 1.3 Evaluating how leadership styles can be adapted to different situations Leadership styles adapted to different situations. It is evident from the various scenario of the given that different leadership styles are required to be adapted in different situation. Autocratic Leadership Style This leadership style has been greatly criticized during the past 30 years. It is the most effective style in the following situations: †¢ New, untrained employees who do not know which tasks to perform or which procedures follow †¢ Effective supervision can be provided only through detailed orders and instructions †¢ There are high-volume production needs on a daily basis †¢ There is limited time in which to make a decision For example, Militaries of the countries, and training sections of the firm follow autocratic leadership styles. For the organization of â€Å"KKK† manufacturing, this style should be followed in training section under the HR department so that the new assigned employees can understand the procedures and can apply in their day to day operation exactly. By applying autocratic in training section, mistakes and risks occurred by newly assigned employees can be reduced in mass manufacturing environment. Bureaucratic Leadership Style This style can be effective when: * Employees are performing routine tasks over and over. * Employees need to understand certain standards or procedures. * Employees are working with dangerous or delicate equipment that requires a definite set of procedures to operate. * Safety or security training is being conducted. * Employees are performing tasks that require handling cash. For example, audit firms, and engineering firms, mass production factories are applied the bureaucratic leadership style. For â€Å"KKK† food manufacturing, the bureaucratic leadership style is adapted in production firms so that the routine jobs can be efficient and effective. Operators must follow the production procedure and standards. Employees in production department must handle dangerous equipments like packing, blending, cutting machines and delicate materials like food which must need to be hygiene. Democratic Leadership Style Democratic leadership is suitable for the situation of high quality and high quantity work for long periods of time. Many employees like the trust they receive and respond with cooperation, team spirit, and high morale. For example, arts entrainment firms like broadcasting TV and radio channels, firms based on advanced technology like â€Å"Apple† and â€Å" Microsoft† apply he democratic leadership style. For â€Å"KKK† food manufacturing, democratic style leadership style is adequate in office work and long term strategy. In top level management strategic decision making, the style is appropriate. Laissez-Faire Leadership Style The leadership style is appropriate under the situation of: * Employees are highly skilled, experienced, and educated. * Employees have pride in their work and the drive to do it successfully on their own. * Outside experts, such as staff specialists or consultants are being used * Employees are trustworthy and experienced. For example, industries like hotel and hospitality, dealing with experienced vendors, dealing with audit firms and legal consultant firms need to be practiced the leadership style. For our organization, â€Å"KKK†, we must deal with vendors like â€Å"Unilever food solution† for the purpose of training the employees and promoting the manufacturing procedure in line with international food manufacturing procedures. In dealing with outside experts, staff specialists and consultants the laissez-fair leadership style is effective. Task2 2.1reviewing the impact that selected theories of management and leadership have on organizational strategy Leadership Leadership is a process of giving purpose to collective effort, and causing willing effort to be expended to achieve purpose. (Jacobs and Jaques , 1990, pg 281) Leadership is the ability of an individual to influence, motivate, and enable others to contribute toward the effectiveness and success of the organization. (House et al, 1999, pg 184) Every leaders attempt to achieve organizational objectives through other people ( their subordinates) on their own ways. Famous examples of charismatic or autocratic leaders are Winston Churchill, Bill Clinton, Mother Teresa and Adolph Hitler. They used their authority in highly manner and by structured set of reward and management. A famous example of bureaucratic leader is Paul Tetu Sr. and Paul Tetu Jr. motor bike production in America. The leaders enforce their subordinates to rule. Carlos Ghosn (born 9 March 1954) President and chief executives officer of Renault, France and CEO of Nissaan, Japan, has the style of democratic leadership. He always empowers his employees to take decision. He provided his employee’s challenges to perform better at the same time made them realized that he trusted them and their capabilities. Another famous leader who applied the Laissez-fair style is Mahatma Gandhi, National leader of India. All authority or power given to the people and they determine goals make the decisions, and resolve problems on their own. So, many leaders apply different leadership strategy through their people on their own way according to the situations. There are several theories of management and leadership on organizational strategy like Great Man theories, Trait theories, Behaviorist theory, Situational leadership, Contingency theory, Transactional Theory, transformational theory, etc. Different organizations are influenced by different theories of management and leadership. John Adair’s Action Centred Leadership (Greatman Theory) Source: www.adventuremas.com, Innovations in Management Development Task Leadership actions to achieve the Task include: * Defining the task and keeping it clear * Clarifying fit of the task to the more global vision and mission * Identifying resources and developing options * Establishing priorities, time frames, and specific plans of action * Establishing systems for communication * Implementing plans and responding positively to change * Assessing progress and considering contingencies on an ongoing basis Team Leadership actions to Build and Maintain the Team include: * Involving team members to generate alignment * Soliciting ideas and building on them * Establishing roles * Optimizing the exchange of information * Monitoring the team’s process and dynamics * Resolving conflict * Recognizing team successes Individual Leadership actions to Empower Individuals include: * Encouraging varying viewpoints * Harvesting ideas * Allocating responsibilities to capitalize on individual strengths and develop individuals * Listening * Facilitating and giving feedback * Delegating when it can be effective * Counseling and encouraging individuals (www.adventuremas.com, Innovations in Management Development) Three – Dimensions Theory There are three dimensions to effective leadership, each of which is within the control of the individual leader, and each of which can be developed through appropriate support and guidance. Effective leadership is about developing your ability in each of the three dimensions and then choosing to apply your skills and abilities in a balanced, three-dimensional way. Source: (www.mapleassociates.com, Simon Batty MBA MCMI â€Å"Three-Dimensional Leadership – the balanced approach†) Each dimension is of equal importance, which means that leaders who have development needs in one or more of the dimensions, will display behaviours that indicate an opportunity for improvement. Simply developing an already strong dimension will not work; a strength overplayed can become a weakness. Values The first dimension of leadership is that of values. These are the internal thoughts that influence the way a leader views the world around them. Some values are deeply embedded in our moral framework. For example, they guide us in the difference between right and wrong, good or bad. Developed as we progress through childhood, are increasingly challenging to change or modify, as we grow older. Effectiveness In order to lead people effectively, the individual leader must first be able to self-manage. This means that they must be ‘personally effective’ in performing key tasks. Time management (or rather, effective use of time), is a prime example. Leaders who fail to identify and manage their own priorities are unlikely to help team members do any better. Worse still, they may feel threatened by a team member who is more accomplished in this basic management skill than they are. Influence It is important to note that truly influential leaders are not necessarily those who are seeking the popular vote. Leaders who use their personal charisma, or popularity, to motivate and influence, whilst neglecting to develop their values or effectiveness dimensions, need to beware of the following, ‘How the mighty fall when the popular vote disappears!’ Charm may work for a while, but real credibility and respect are based upon the ability to deliver results in all areas. (www.mapleassociates.com, Simon Batty MBA MCMI â€Å"Three-Dimensional Leadership – the balanced approach†) Transformational Theory Transformational leadership theory is all about leadership that creates positive change in the followers whereby they take care of each other’s interests and act in the interests of the group as a whole. James MacGregor Burns first brought the concept of transformational leadership to prominence in his extensive research into leadership. The four components of the transformational leadership style are: (1) Charisma or idealized influence – the degree to which the leader behaves in admirable ways and displays convictions and takes stands that cause followers to identify with the leader who has a clear set of values and acts as a role model for the followers. (2) Inspirational motivation – the degree to which the leader articulates a vision that is appeals to and inspires the followers with optimism about future goals, and offers meaning for the current tasks in hand. (3) Intellectual stimulation – the degree to which the leader challenges assumptions, stimulates and encourages creativity in the followers – by providing a framework for followers to see how they connect to the leader, the organization, each other, and the goal] they can creatively overcome any obstacles in the way of the mission. (4) Personal and individual attention – the degree to which the leader attends to each individual follower’s needs and acts as a mentor or coach and gives respect to and appreciation of the individual’s contribution to the team. This fulfills and enhances each individual team members’ need for self-fulfillment, and self-worth – and in so doing inspires followers to further achievement and growth. (www.ezinearticles.com, Stephen Warrilow â€Å"Transformational Leadership Theory – The 4 Key Components in Leading Change & Managing Change†) Source: Model of Transformational Leadership, www.managementstudyguide.com For the selected organization â€Å"KKK† transformational leadership theory, 2.2Creating a leadership strategy that supports organizational direction Transformational theory has much in common. The theory focuses on attempting to explain how leaders can accomplish extraordinary things against the odds, such as turning around a falling company, founding a successful company. The theories also emphasize the importance of leader’s inspiring subordinates’ admiration, dedication, and unquestioned loyalty through articulating a clear and compelling vision. Utilizing the theory can be the positive impact on our organization needs restructuring and reengineering in leadership and management. Transforming to corporate culture must be implemented. If possible mergers, acquisition, joint ventures have to be established. The above three theories, John Adair’s theory, 3D theory and transformational leadership must be adequately mixed and applied in our organization. Through employees, utilizing appropriate leadership style in different sections, individuals engages with each other and is able to create a connection that result in increased motivation and morality in both followers and leaders. Leaders can also initiate, develop, and implement important changes in a confidence, extroversion, and understand the value of the organization. Our changing strategy is to meet the requirement of the time of AFTA (2015) and can get competitive advantage in food manufacturing industry via traditional food. ASEAN Free Trade Area (AFTA) AFTA is a free trade zone in Southeast Asia where member countries include Malaysia, Singapore, Thailand, Philippines, Indonesia, Vietnam, Laos, Myanmar, Cambodia and Brunei. The AFTA agreement supports the effort to relax trade barriers amongst member countries in order to achieve direct trade benefits. The purpose of a SWOT analysis of the manufacturing industry is to identify the key factors that affect the success of the industry. The four factors considered a part of a SWOT analysis are: strengths, weaknesses, opportunities and threats. A SWOT analysis estimates the risks for a particular industry. 1. Strengths * The strengths of the manufacturing industry are that it is relatively stable. Although the demand for manufacturing tends to fluctuate with the ups and downs of the economy, it is characterized by regular periods of recovery following any downturns. Moreover, manufacturing has become highly efficient over the last century, with the ability to maximize both the productivity of the workers and machines to maximize profits. Weaknesses * A weakness of the manufacturing industry is that much of it is built on the production of non-essential goods. This means that a severe downturn in the economy can have a crippling effect on it. Another weakness is that it is a mature industry. This means that there is heavy competition and little room for growth. As a result, the manufacturing industry can be a cash cow for those who are already in it but may be unattractive to new entrants. * Sponsored Links * Software Metrics Measure your IT for a competitive advantage. Learn more. davidconsultinggroup.com/Metrics Opportunities * Opportunities in the manufacturing industry are in the technology and bio-technology areas. These are growing market segments with higher profit margins. Additionally, they are knowledge-dependent market segments that require highly specialized workers, which makes it difficult for low wage countries to compete in this market segment, thereby providing an edge to more industrialized countries. Foreign markets with a growing middle class are providing opportunities for technology and bio-technology manufacturers to increase their profitability through exports. Threats * The largest threats to the manufacturing industry in developed nations are from low wage countries. The low wages of these countries have made it impossible for many businesses in developed nations to compete, requiring them to either close or move overseas to find cheap labor. Increasingly, India is an even bigger threat to the manufacturing industry, with its ability to supply highly educated workers at low wages to fill roles in the high-tech manufacturing market segment. Read more: SWOT Analysis of Manufacturing Industry | eHow.com http://www.ehow.com/about_6767951_swot-analysis-manufacturing-industry.html#ixzz2HdkmsvMX 1. Strengths, Weaknesses, Opportunities and Threats STRENGTHS †¢ Some expenditure on food is essential for everyone and is considered an established part of the household budget. †¢ Many food products are deemed necessities and are unlikely to be harshly affected by any economic downturn. It is discretionary spending that is usually badly hit in a recession, which is, therefore, more likely to harm sales of ‘luxury’ foods. †¢ The UK has a well-established supply structure, in terms of both its production base — for meat, dairy products, fresh and processed vegetables, bakery products and fish, in particular — and its network of retail outlets — mainly in the form of major multiples. †¢ Following a period of extensive rationalisation and restructuring, the UK food industry can now benefit from more focused businesses and generally more efficient supply chains. †¢ The food-processing sector has also benefited from consolidation, which has created more vertically integrated companies and more economies of scale. †¢ Consumer demands for convenience have served to increase the opportunities for foodretailing, which are no longer confined to the traditional food outlets or to daylight hours. As well as minimising missed opportunities, it also enables the industry to capitalise on impulse purchasing. †¢ In such a mature industry, the competitive pressure on suppliers ensures a high degree of product innovation. WEAKNESSES †¢ Few brands enjoy high levels of consumer loyalty and in certain sectors, such as cereals, bread and yoghurt, it is particularly limited. As a result, product switching and the growth of own labels are harming sales of some brands. †¢ The buying power of the large supermarket chains, and their demand for lower-priced supplies, has put further pressures on food-industry margins —especially on producers operating in commodity sectors, such as milk. (It is possible that future EU legislation will prevent the sale of goods below cost price and will set a†¦ 2.

Qui estce essays

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