Civil War essays

Common War articles The Blacks Struggle following the Civil War After the Civil War and the Emancipation Proclamation by Lincoln, the captives of America were free. This was a colossal advance in making our nation genuinely allowed to all individuals. The development of the South didn't anyway turn out to be easily for the liberated slaves. There were numerous barriers en route, for example, the Black Codes, the Plessy versus Ferguson case, and the fear of the Ku Klux Klan. In this exposition, we will take a gander at the battles that confronted the blacks following the Civil War. After President Lincoln gave the Emancipation Proclamation in 1863, previous slaves took on another job in American culture. This job was one of more noteworthiness and self-esteem than in bondage, however this class of freedmen was definitely not acknowledged. Without the labor of the slaves, the south's rural society would fizzle, and without the horticulture there would be minimal expenditure or food in the south. The death of the Louisiana Black Code in 1865, affirmed that whites felt as though blacks couldn't deal with the duty or the privileges of genuine residents. Whites figured they didn't merit these rights since they were mediocre compared to themselves and basically not exactly human. It was as though subjection had never finished. The blacks were free, anyway huge numbers of the Negroes ordinary rights were nullified. Segment 3, of the Louisiana Black Code expresses No Negro will be allowed to lease or keep a house inside said area. Segment 9 pronounces, No Negro will se ll, bargain, or trade any articles of product or traffic inside said ward. Also, one of the most noticeably awful of these codes is in Section 4 of the Louisiana Black Code. Each Negro is required to be in the customary help of some white individual, or previous proprietor, who will be considered liable for the conductor of said Negro. (Weinstein 167) Numerous blacks stayed on ranches and manors since they didn't have a clue what els... <! Common War articles The Confederate South, which is known for its profound military history, end up being no opposition for a modernly sound and quickly developing north in this Civil War. The North that was modernly solid and equipped with tons of weaponry discovered a lot of their triumphs effectively possible. Technique, good, initiative, and economy are only a couple of components that added to the Unions strength over the confederate succeeded states. The Union won the common war by monetary strength and modern predominance not simply by the intensity of their military. The Civil War was over before it started. There was likely never any possibility of the South winning without European acknowledgment and military guide (Zebrowski 222). The association demonstrated its points of interest from the earliest starting point. In populace the North had a favorable position of just about five to two. This favorable position shows up much more noteworthy if the slaves (which were more than 33% of the Southern individuals) are considered to some degree not exactly a similar number of freemen (Current 21). Crude materials were for the most part congregated in the North. A significant part of the railways were followed over the northern habitants: twice as much track and a superior arrangement of incorporated lines (Brinkley 383). The South missed the mark with these preferences and just couldn't keep up. The systems of these two quarreling districts generally differed. Fabulous technique was associated with the southern way to deal with the war. This was the way that the alliance didnt need to win so as to win; it was sufficient in the event that she held the field sufficiently long to tired the North with the war. The North so as to win, needed to vanquish the South (Commager 15). The North finished the with assistance from Lincolns Union approach. Lincoln needed to save the Union and he would let nothing hinder him of doing this. Demonstrations of power and viciousness to help withdrawal were insurrectionary, he stated, and the administration would hold, involve, and have ... <! Common War articles #8 Analyze the financial outcomes of the Civil War as for any two of the accompanying in the United States somewhere in the range of 1865 and 1880. On April ninth, 1865, General Robert E. Lee, skipper of the Confederate armed force gave up to the Union, finishing the Civil War. In spite of the fact that this was one of the most dangerous wars in our countries history, the repercussions the nation felt monetarily, were radical and differentiating. During the period known as recreation, which kept going from 1865-1877, the North will have a flourishing economy where as the Souths economy will be wrecked because of liberation of the slaves. The finish of bondage for the most part influenced southern agribusiness and work. Prior to the Civil War, 66% of the United States sends out were cotton and material products. The processing plants in the North would make materials out of Southern cotton. A lion's share of Southern cotton was developed on ranches where slave work was prominently utilized as a modest method to pick and clean the cotton. Cotton was the essential money harvest of the south and the premise of their economy. Which is the reason the minor idea of liberating the slaves was weighty to a southerners ears since then there was nobody to keep up the estates. This, alongside the broad harms the south looked after the common war were the reason the souths economy went down the channel after the Civil War. Subjection provided the south with sufficient measure of free work to deal with the ranches and keep the estate economy blasting. Subjection was the spine toward the southern economy and without it, it would self-destruct and it did after the war. With the war authoritatively finished in 1865, the slaves in the south were presently free. Presently on paper, slaves were free, however in actuality very little had changed for the blacks. They were free however had no cash, no property, no occupations, no training, no aptitudes except for ... <! Common War papers IN THIS gathering of the Southern Historical Association incredible accentuation has been put upon a reconsideration of various periods of our history identifying with the Civil War. While a few papers have managed certain powers which realized the Civil War, none has endeavored a general combination of causes. This union has been the undertaking accepted by the resigning leader of the Association. Before endeavoring to state what were the reasons for the American Civil War, first let me state what were not the reasons for this war. Maybe the most excellent, the most beautiful, the most smooth articulation of what the Civil War was not battled for is Lincoln's Gettysburg Address. That address will live as long as Americans hold their adoration with the expectation of complimentary government and individual freedom; but in reevaluating the reasons for the Civil War, the location whose substance was that the war was being battled so that administration of the individuals, by the individuals and for the individuals will not die from the earth is unessential. In fact, this perfect work of art of persuasiveness has close to nothing if any incentive as an announcement of the fundamental standards basic the war. The Civil War was not a battle with respect to the South to obliterate free government and individual freedom nor with respect to the North to safeguard them. Taken a gander at from the current point of view of the overall endeavor of the extremists to eradicate free governments and countries living under such governments from the substance of the earth, the old generalization that the South was endeavoring the annihilation of free government and the North was battling to safeguard it appears to be unreasonable and out and out senseless. In the light of the present-day passing battle among opportunity and the most fierce type of tyranny, the Civil War, the extent that the issue of free government was included, was a trick fight. To be sure, both northern and southern individuals in 1861 were similar significantly connected to the standards of free government. A deliberate investigation of... <! Common war articles The Civil War was an incredible clash between the Northern and Southern conditions of America. The guideline reason for this war discovered its underlying foundations in the mid 1800s as the Northern states moved away from cultivating towards assembling. Farming remained the most significant method of getting by in the South. Grower utilized dark captives to work their fields for insignificant expenses and created massive benefits. The bondage exchange went to the United States in 1619, when a Dutch dealer transport showed up in Jamestown, Virginia conveying twenty dark Africans. The slaves were offered to American settlers and for a considerable length of time all aspects of the nation rehearsed servitude. Bondage before long evaporated from the North, as cruel winters were horrendous for the Africans. Little landowners in the North could likewise not bear the cost of a solid field hand as expenses approached $1800. For propositions reasons they went to industry and machines instead of homestead hands. In the South the quantity of dark slaves just expanded to help satisfy an overall need for tobacco and cotton. It was important to cultivate enormous regions of land and slaves were most appropriate for creating these yields. As subjection kept on developing, assessment against it did also. This made the United States Government pass a law denying subjugation in 1808. This just implied boats could no longer convey payloads of African captives to Southern ports and offer them to pioneers. Subjection kept on thriving in the South as this law didn't influence slaves previously working inside the nation. A development started to surface in the North during 1840s to cancel bondage. This gathering known as abolitionists considered it was ethically off-base for one individual to claim another. Servitude deteriorated as westbound extension started in the United States. New states were admitted to the Union from domains west of the Mississippi. For each slave state brought into the Union a free state was likewise conceded keeping an uncomfortable harmony between th... <! Common War papers Life in the camp was overwhelming and excruciating it was anything but a day at the recreation center like I thought. We stay in bed tents out

MBA Waitlist Strategies for Business School Applicants

MBA Waitlist Strategies for Business School Applicants At the point when individuals apply to business college, they expect an acknowledgment letter or a dismissal. What they dont expect is to be put on a MBA shortlist. Yet, it occurs. Being put on the shortlist isn't a yes or a no. Its a perhaps. What to Do If Youre Put on the Waitlist In the event that youve been put on a shortlist, the principal thing you ought to do is praise yourself. The way that you didn't get a dismissal implies that the school thinks you are a possibility for their MBA program. At the end of the day, they like you. The second thing you ought to do is consider why you didn't get acknowledged. Much of the time, there is a specific motivation behind why. It is frequently identified with absence of work understanding, a poor or lower than normal GMAT score, or another shortcoming in your application. When you know why youre waitlisted, you have to take care of business other than stick around. In the event that youre genuine about getting into business college, its imperative to make a move to expand your odds of getting acknowledged. In this article, well investigate a couple of key techniques that may get you off the MBA shortlist. Remember that only one out of every odd technique introduced here will be directly for each candidate. The suitable reaction will rely upon your individual circumstance. Adhere to Instructions You will be advised on the off chance that you are put on a MBA shortlist. This warning for the most part remembers directions for how you can react to being waitlisted. For instance, a few schools will explicitly express that you ought NOT get in touch with them to discover why you have been waitlisted. On the off chance that you are advised not to contact the school, don't contact the school. Doing so will just damage your odds. On the off chance that you are permitted to contact the school for input, it is imperative to do as such. The affirmations rep might have the option to let you know precisely what you can never really off the shortlist or reinforce your application. Some business colleges will permit you to present extra materials to enhance your application. For instance, you might have the option to present an update letter on your work understanding, another suggestion letter, or a reexamined individual articulation. In any case, different schools may request that you abstain from sending in anything extra. Once more, it is essential to adhere to guidelines. Try not to do whatever the school explicitly asked you not to do.  â Retake the GMAT The acknowledged candidates at numerous business colleges normally have GMAT scores that fall inside a specific range. Check the schools site to see the normal range for the most as of late acknowledged class. On the off chance that you fall underneath that go, you should retake the GMAT and present your new score to the affirmations office. Retake the TOEFL On the off chance that you’re a candidate who communicates in English as a subsequent language, it is significant that you show your capacity to peruse, compose, and communicate in English at the alumni level. On the off chance that fundamental, you may need to retake the TOEFL to improve your score. Make certain to present your new score to the confirmations office. Update the Admissions Committee On the off chance that there is whatever you can tell the entrance advisory board that will increase the value of your office, you ought to do it through an update letter or individual articulation. For instance, in the event that you as of late changed occupations, got an advancement, won a significant honor, enlisted or finished extra classes in math or business, or achieved a significant objective, you should tell the affirmations office. Present Another Recommendation Letter An elegantly composed suggestion letter may assist you with addressing a shortcoming in your application. For instance, your application may not make it evident that you have authority potential or experience. A letter that tends to this apparent inadequacy could help the entrance advisory board study you. Calendar an Interview Albeit most candidates are waitlisted on account of a shortcoming in their application, there are different reasons why it can occur. For instance, the entrance advisory board may feel like they just dont know you or they aren’t sure what you can bring to the program. This issue could be cured with an up close and personal meeting. On the off chance that you are permitted to plan a meeting with graduated class or somebody on the entrance advisory board, you ought to do as such at the earliest opportunity. Get ready for the meeting, pose shrewd inquiries about the school, and do what you can to clarify shortcomings in your application and impart what you can bring to the program.

Automated Grading System Essay

Presentation Letter grades were first utilized in the United States in the last piece of the nineteenth century. The two universities and secondary schools started supplanting different types of evaluation with letter and rate reviews in the mid twentieth century. While reviewing frameworks give off an impression of being genuinely normalized in the U.S., banters about evaluation expansion and the utility of evaluations for cultivating understudy learning proceed. Mechanization has had a prominent effect in a wide scope of ventures past assembling (where it started). Once †phone administrators have been supplanted generally via mechanized phone switchboards and replying mail. Clinical procedures, for example, essential screening in electrocardiography or radiography and lab investigation of human qualities, cells, and tissues are done at a lot more prominent speed and precision via mechanized frameworks. Indeed, even races have gone mechanized. Applying computerization to Grading frameworks wherein it will likewise make an errand simple and precise. 1.1 Background of the Study The group’s framework named â€Å"Automated Student Evaluation System† is compelling on contributing and putting away information. Also, the greatness and effectiveness of this framework is guaranteed. The gathering has accepted this open door as a test and drove our thoughts into the real world and has thought about numerous perspectives and thoughts in making this stand-out undertaking. The gathering trusts that the perusers of this documentation would be propelled as they and accept that the essential objective of reviewing and detailing is correspondence. Viable evaluating and detailing frameworks advance connection and inclusion among all partners (i.e., understudies, guardians, educators, and managers) in the instructive procedure. Evaluating advances the accomplishment of characterized, content-explicit learning objectives and recognizes where extra work is required when it is straightforwardly adjusted to the educational programs. Evaluations fill an assortment of authoritative needs while deciding appropriateness for advancement to the following level, credits for graduation and class rank. Modernized evaluating makes the reviewing procedure quick, increasingly predictable, and more dependable than conventional manual evaluating. With the utilization of today’s propelled PCs and different advances in scholastic businesses, the innovations won't simply help the foundation yet additionally everything that covers it; from the Professors to the understudies. Utilizing the new programming dialects that are available today the defenders will utilize this innovation to enable the school to upgrade its framework. However, notwithstanding of having an incredible framework there are still some point in it that should have been supplanted or upgraded. 1.2 Statement of the Problem The old framework was utilizing Microsoft Excel just for contributing and putting away the evaluations, the evaluations must be gotten to in one PC and furthermore gets an opportunity of information misfortune or the records are not made sure about enough. Numerous things in this school have gone from manual to robotize. The gathering saw that this framework doesn't exist in this school. We as a whole realize that making an Automated Student Evaluation System implies making the assignment for educators in registering and ascertaining evaluations will turn out to be simple and not just that the teachers will have a preferred position however the understudies will likewise get an increase, since it will likewise improve exactness of estimations in this way making the what we call â€Å"Hula of Grades† will become non †existent later on for Sta. Cecilia College. 1.3 Statement of Objectives The framework plans to reduce the time in looking student’s records and handling of evaluations and to give precise realities to diminish blunders. One of the substantial advantages of this framework is cost decrease and evasion because of realities looking of understudies records and preparing of evaluations. 1.3.1 General Objective The system’s to improve progressively precise data for decrease of blunders. By just investigating of understudy grades data required. It will expand adaptability since this is totally pressed with sufficient data for evaluation of the understudies. And furthermore to make sure about the understudies grades. 1.3.2 Specific Objectives This examination plans to: ⠝â€"The evaluations will be appropriately orchestrated and sorted out. ⠝â€"It will accelerate the action of evaluation exchanges of understudies. ⠝â€"It will decrease the time they devour that will advance great parts of the school through phenomenal assistance. These days, and other mechanized applications for the improvement of their administrations. It is a need for this organization to follow what is in today’s world, Perhaps it is a need to change its picture from a low innovation school to an elevated expectation office prepared. Sta. Cecilia College offers PC courses and having a framework like this will advance better learning for understudies since they could have enthusiasm to learn in database taking care of, programming and framework examination. 1.4 Significance of the Study Engaging in this sort of study is imperative to know about the modernization of innovation especially in PC framework that can be valuable at present and for the future use which is important so as to keep track with trend setting innovation being in the worldwide innovation rivalry. The proposed investigation would likewise help to build up the proponent’s aptitudes, particularly as far as framework examination, framework plan and programming. This examination will make an Automated Student Evaluation System with understudy data framework. This will likewise assist the organization with coping up with the long work stream of their past framework. 1.5 Scopes and Limitations Extensions: ⠝â€"The framework can perform explicit undertaking as contributing the evaluations of the understudy and convert it to its proportional. ⠝â€"The framework can likewise hold the data of the understudies, including, altering and sparing it to the database. ⠝â€"Calculates singular understudy grades Constraints: ⠝â€"The evaluations must be gotten to by Professors by the utilization of the sign in client module. ⠝â€"The Registrar can just access and change the Student data. Understudy assessment is an exceptionally mind boggling process that should consider numerous elements. Perceiving the constraints of different reviewing practices and offsetting them with presence of mind and trustworthiness is a significant piece of crafted by proficient instructors.

Bloomberg and the Soda Law Essay Example for Free

Bloomberg and the Soda Law Essay The soft drink law acquainted by Mayor Bloomberg with boycott the offer of soft drinks bigger than 16 fl. oz. at eateries over the city will have zero to insignificant monetary effect on individuals who are right now getting them. The soft drink boycott will have a very little net positive financial effect on organizations. What's more, the justification behind this is the way that whoever drinks more soft drink will obtain more pop, paying little mind to how large or little the beverage is. A 20 fl. oz. pop, when prohibited will be supplanted by a 16 fl. oz. cup of pop. How much soft drink an individual beverages may even increment if as opposed to drinking only one 20 fl. oz. pop, he chooses to get a top off of his 16 fl. oz. pop, something that most eateries permit. The advantages anticipated for the general public from this law, that may diminish weight are unbelievable. The expense of pop for cafés is generally $0. 0132 for every ounce (see Appendix). On a 20 fl. oz. pop, the net expense to the café is about $0. 22 (Appendix). A 20 fl. oz. cup of pop at a foundation, for example, McDonald’s, maybe the fundamental objective of this law, sells for generally $2. 50. When the 20 fl. oz. cup is gone, it will be supplanted by the 16 fl. oz. cup, yet at a similar cost. The cafés will re-name the 16 fl. oz. cup as the new huge, present a 12 fl. oz. cup as a medium and keep the 8 â€ounce cup as a little. Be that as it may, will this add altogether to the incomes of the café? It is far-fetched, since the clients will simply get tops off for their 16 fl. oz. cups. The main conservative advantage for the eatery may be the individuals who don't top off their cups and this is negligible since the expense of pop is only an adjusting blunder for most cafés. This law is incapable in light of the fact that it doesn't prevent the buyer from devouring any less soft drink based on what was being expended previously. The monetary effect on the general public will be in the red in view of the hundreds and thousands of dollars spent on organizing the bill, the defective procedures of research that decided a little cup would bring about less utilization of pop, lastly the cash spent by different gatherings contradicting or supporting this law. To viably handle the issue of heftiness, the administration needs to take a gander at different roads. Soft drink is a major reason for stoutness, it is made of sugar and has calories, yet the prohibition on a bigger serving isn't the arrangement. A powerful arrangement is raise the charges on soft drinks. Another arrangement is to boycott tops off, in this manner inciting the client to buy another pop, which will either dishearten the buy or add more to burden incomes gathered by the legislature. Thusly, this assessment income can be utilized to fabricate running tracks, gym equipment and other recreational offices for the network. Another choice for the administration is to publicize the evil impacts of drinking pop and advance more advantageous choices, for example, products of the soil juices at moderate costs at those eateries. There are a few different alternatives for soft drink consumers to expend a similar measure of pop when this law is authorized. Cafés and cinemas give free tops off, accommodation stores, for example, 7-11 are absolved from this law, and supermarkets despite everything sell the enormous containers and cases. The response to this difficult lies in instructing the individuals about the evil impacts of pop and at exactly that point will this law be monetarily valuable for the general public. This law doesn't have any medical advantages that can be changed over in to practical advantages for the general public. Informative supplement: Costing Out Soda Free Refills How to Price Soda. Discount Food Restaurant Distribution by Pate Dawson Company. Pate Dawson Company, 2009. Web. 10 Oct. 2012. http://www. pdco. com/hub/88289.

Challenges of Mental Health Caregiving Research

Question: Examine about the Challenges of Mental Health Caregiving Research. Answer: Presentation Recuperation can be characterized dependent on a given point of view. Recuperation is the condition of recovering and holding trust, being in a situation to comprehend ones capacities and incapacities, being in a situation to take part in a gainful life, recognizing the social foundation of an individual, realizing what life reason for existing is and grasping inspiration in the feeling of life. Individuals have blended experience with respect to recuperation (Rosenberg et al., 2013). To other people, it advances self-assurance, social associations, and social equity while the opposite side has a view that psychological recuperation is just a condition of being in a situation to comprehend ones self-existence without other unequivocal backups (Rosenberg et al., 2013). On the opposite side, it gets hard for some the individuals to increase a comprehension of recuperation standards (Talley Fricchione, 2014). Along these lines, this article looks to investigate a live tale about Janet i n an undertaking to cause the individuals to comprehend what recuperation standards are and their job in improving emotional well-being (Leathard Goodinson-McLaren, 2007). The center point of this exposition is to make an examination about Janets mental case after explicitly manhandled at her age of ten to fifteen, a factor that made her seriously upset at nineteen years old. Janet experienced numerous difficulties while attempting to look for clinical consideration when her circumstance about wellbeing exacerbated. It is during her second year of studies when her voice and sentiments about how she had been manhandled explicitly deteriorated (O'Hagan, 2015). The primary test that Janet went through has no consideration from the clinical specialists. At the point when she called them, their reaction was needing; she was unable to get help with respect to her issues which expanded radically prompting a poor fixation in class and different fields (O'Hagan, 2015). The difficulties that intellectually sick people groups experience results from the setting of the individuals who should support them. It turns out to be difficult for them to recuperate basing the way that they feel maintained a strategic distance from and confined. One of the psychological wellness standards is poise and regard (Rosenberg et al., 2013). At the point when the intellectually sick a re not to their desire, they will in general feel not regarded, and their nobility needed to lower. In this manner, recuperation gets troublesome in setting up in them. The openness of psychological well-being care administrations is another test that makes a recuperation hard for the intellectually sick people. Janet got a suggestion that it would take the clinical pros three weeks before she got treatment, a factor that rendered her dangerous and that nobody was eager to help her to escape her psychological aggravation (O'Hagan, 2015). Having no consideration from the pros, Janet rang to the emergency group being embarrassed and in any event, feeling to end it all. In any case, the emergency group additionally tormented her sentiments by advising her to make some tea for herself. The case prompted Janet taking medication overdose feeling confined and that no one thought about her circumstance (O'Hagan, 2015). An emergency vehicle was called to take Janet to the medical clinic with the point of saving her from a medication overdose. Disposition and human rights being one of the recuperation standards could have been disregarded somehow basing on the way that correspondences from the intellectually upset considerations ought to reflect being deferential for recuperation to be recovered (Rapp Goscha, 2012). The avoidance of the individuals who should be useful is another test that makes recuperation of psychological maladjustment to be most noticeably terrible (Brown, 2012). At the point when the medical caretakers and the other wellbeing specialists appear to stay away from the patient, the emotional wellness recuperation rule of assessing the recuperation didn't get consideration (Rapp Goscha, 2012). While in her clinic bed, Janet once in a while got consideration from any of the attendants for a suggestion or for assessment of how she recouped. She felt overlooked and even felt distrustful, a factor which made her wake up one night and tapped windows of the workplace of the medical attendant (O'Hagan, 2015). The medical caretaker exacerbated her inclination by hesitantly advising her to return to her bed without going in any direction (O'Hagan, 2015). Janet returned having been miserable about how her future takes. She got back and connected with her associate patients however she fe lt contempt towards being in the ward with no consideration gave to her. Then again, some staff who were pleasant didn't have an enthusiasm of how she felt and about how she may feel once she was released (O'Hagan, 2015). They have viewed as decent just from the manner in which they connected with the patients and how they demonstrated enthusiasm for imparting delicately to them. When Janet went to the word related treatment some morning, she discovered there disparaging too. She rested for very nearly a day due to the reason for drugs impacts. From her negative viewpoint about the consideration that she got from the clinic, Janet felt more awful and even deceived the medical attendants to release her from the emergency clinic she was acclimated with joining in (Talley Fricchione, 2012). Perspectives and rights to the intellectually sick patients need consideration and care. The way that Janet favored the release to proceed with clinical consideration would represent no answer for her psychological issue. She continued her examinations subsequent to getting discharged upon her choice to take on her conflict. In any case, the schools organization was not ideal for her too. They appeared to focus much on what Janet had lost scholastically while in the medical clinic than the real reason. Janet kept inclination more regrettable however battled with sharpness. Th en again, her cohorts maintained a strategic distance from her. As indicated by the psychological well-being national recuperation arranged structure administrations, individual recuperation is the point at which one can make and contribute life in the network of decision, it is the circumstance with or without mental issues. From Janet story, it can one discovers that, for one to recoup from psychological maladjustment, there is specified system that should require grasping (O'Hagan, 2015). Right off the bat, the uniqueness of an individual is a factor that wills matters. Jane being capable and prepared to impart her issue to her companion Emma and reacting sincerely to the psychological test, and the mental specialists, permitted her to fill entire once more. Janet character permitted her to communicate. Her persona empowers the specialists to distinguish and address her issue fittingly (Wrycraft, 2015). Jane had old buddies, Emma among them was happy to help Jane, and she made a special effort to help Jane scan for the psychological school where she could get medicine. Also, from the Janet story, it is expressed that settling on genuine decisions is the main factor that empowers a person to get the prompt mind and recoup rapidly (O'Hagan, 2015). On the off chance that it was not Jane decisions to share story troubling her and making steps to report her issue with the psychological staff, she could have ended it all or simply capitulate under cardiovascular failure. Settling on genuine decisions and caring companions is pivotal, Janes companion Emma helped in giving Jane a thought of searching for online assistance, Emma had the option to reason and settle on a quick choice (Talley, Fricchione, 2014). After Jane visiting rock up her circumstance was taken well overall, and she had the option to recoup consistently. Thirdly, for a psychological issue to improve one ought to know about what is correct and have the correct mentality. Mentality matters a great deal in deciding, an individual with the correct disposition in grasping the recuperation procedure will recover without discouragement fundamentally influencing them (Talley, Fricchione, 2014). An individual with the correct mentality towards life can impart what the issue is and make positive move in the recuperation procedure. Jane, for this situation, was appeared to have the correct demeanor towards sharing her issue to companions and the psychological work force, Jane was prepared to search for answers for her psychological issues (Talley Fricchione, 2014). She accepted all the counsel she was given by the surgeons and her companions, she felt like everything is ok again after the master counseled her about the issue and given consideration and drug. Disposition additionally contribute in imparting trust in a person about the future lif e and the capacity to live manfully Fourthly, Dignity and regard are one of the rules that decide how the patient gets treated by companions and the guardians (Brown, 2012). Poise and regard direct such that an individual issue gets help. Person who grasps this goodness can get help effectively from companions; this is on the grounds that when these individuals share their issues companions will deal with them with enough consideration and give them legitimate consideration on the issue (Brown, 2012). The regard and respect that the individual gets in the psychological medical clinic decide a great deal how an individual will react to the administrations gave in the emergency clinic. From jams, the story is certain that her gathering by her companion in the clinic gathering gave her expectation and assurance in understanding her psychological issue. The way Jane gets treatment from the specialists gave her expectation; she had felt that she was by all account not the only one with the sickness however there are numerou s individuals with a similar issue and much more having the issue than her. Likewise, Partnership and correspondence are one of the key factors in guaranteeing the accomplishment of the psychological recuperation process (Drennan Alred, 2013). Great correspondence procedure and organization furnishes that the person with a psychological issue is evaluated and guaranteed that the individual is recuperating effectively. From Jane story, a coordinated effort with the companions and the emergency clinic participation empower her to go through smooth recuperation process (Drennan Alred, 2013). Jane was allowed to share her sentiments uninhibitedly with the specialist, she empowers the specialists to survey her state unmistakably, and she got suitable exhortation. Jane picked up data with respect to an appropriate correspondence organize she had the option to report her issues successfully and effectively In conclusion, assessing the recuperation procedure is the be

The Gross Profit Percentage Finance Essay - Free Essay Example

The decrease in profits in FY10 was due to the decline in cement prices as mentioned earlier. The cement prices rose in the next year, and the company successfully took advantage from that increase and recovered its gross profit. In FY11, there was sharp increase in the fuel consumed cost from the last year 2010 Rs 1,338 million to Rs 1,917 million in FY11, which was an increase of 43%. The rising electricity tariff and increase in prices of coal in international market have affected the profit margins of the Company. Due to fragile market condition, most of the time company was unable to pass on the impact of raising prices to end user. FCCL is also continuously declining its production level due to shortage of electric power supply and gas curtailment, made the company unable to achieve economies of scale. There was an addition of new cement plant during the year 2011 with a production capacity 7560 TPD in order to achieve the economies of scale. Through this plant containing state of the art technology, company will be able to achieve greater profit margins. (Director Report, Financial Statements) During FY10, the adverse impact of drop in sales turnover affected the total gross profit of the sector by decrease of 49% year-on-year (YoY). This decline also affected the gross margin which became 17% compared to the last years 29%. On per-tone-basis, in FY10 rete ntion prices were lowered by 21% YoY and gross profit lowered by 53%YoY. A leading cement producer, Tariq Saigol said that most of the industry is bearing losses due to massive increase in costs. The prices of the fuels were at their historic highs and making record. The increase in electricity rates are also getting unbearable for all the industries. (Ahmed, 2011) The trend of gross profit of the competitor company, Attock Cement is also declining continuously, evident from the table below. This decline is not as sharp as FCCL has during the three years. Over the three periods, the gross profit percentage of Attock Cement Pakistan Limited has decreased by 36%, from 31.83% in FY09 to 20.23% in FY11, whereas this percentage of Fauji Cement Company Limited has declined from 31.75% in FY09 to 17.35% in FY11, down by 45%. The main reason was that Attock Cement has an ability to absorb the rising prices of the raw material effectively due to high production capacity and by achie ving economies of scale. Gross Profit Fixed Asset Turnover (Times) The fixed assets turnover of FCCL is experiencing declining trend. The companys property, plant and equipment in FY10 were increased by 27% from Rs 18,777 million in FY09 to Rs 23,819 million but net sales in the same year were decreased by 28% from Rs 5,314 million in FY09 to Rs 3,808 million in FY10. This decrease was due to decrease in the cement prices of the cement, locally as well as globally. Therefore the selling price per bag has decreased. In order to win the customers the gross profit margins was declined from 31.75% in FY09 to 13.54% in FY10. However, FCCL didnt get the expected response from the market, therefore the production despatches has decreased to 96.06% as compared to previous year 100.09%. In FY 11, the fixed assets turnover has increased a bit from 0.16 times in FY10 to 0.18 times in FY11, due to the increase in net sales by 24.6% from Rs 3,808 million in FY10 to Rs 4,743 million, in FY11 by increasing the property, plant and equipment by 12%, from Rs 23,819 million in FY10 to Rs 26,658 million in FY11. The increase in net sales was due to improvement in cement price levels. (Annual Reports, FCCL, 2010, 2011) Tariq Saigol, a competent cement producer said in his interview that main problem for the cement industry is that its cost of production is higher than the sales in the domestic market. He further added that it is not possible to increase cement prices under current economic scenario. (Ahmed, 2011) From the table given below, fixed asset turnover of Attock Company is much high as compared to FCCL, but they are also experiencing the declining trend continuously. Attock Cement Pakistan Limited has earned high turnover by using the fixed assets Rs 5,396 million as compared to Fauji Cement Company Limiteds fixed assets Rs 26,658 million, which were 5 times greater. Through an effective sales mix, the competitor company, maximize its sales revenue greater than the FCCL by using comparatively less fixed assets. Fixed Asse t Turnover FY11 FY10 FY09 Fauji Cement Company limited 0.18 0.16 0.28 Attock Cement Pakistan limited 1.60 1.82 2.05 (Figures are taken from Financial Statements) Fixed Asset Turnover Current Ratio In order to meet its short term liabilities the current ratio should be at least 1. FCCLs current ratio throughout the period was less than 1. In FY10, the decrease in current ratio by 22%, from 0.81% last year to 0.63% in FY10, was mainly due to the increase in current liability by Rs 1357 million, up by 52% as compared to the increase in current assets by Rs 417 million, up by 25%. On further investigation the rise in current liabilities was due to the rise in the accrued markup by RS 254 million, up by 267% and current portion of long term liabilities by Rs 746 million, up by 230%. The increase in markup accrued and current portion of long term financing was due to the increase in long term financing from Rs 6,224 million in FY09 to Rs 11,909 million was due to the finance required for the construction of the new plant. In the next FY11, company improved its current ratio by 41%. This increase was mainly due to the increase in current assets by Rs 2,721 million, up by 131% as co mpared to the current liabilities by Rs 1,400 million up by 35%. The sudden increase in current assets was caused by the increase in stocks by Rs 397 million, which was a significant increase of 413%. The stock in trade is considered to be the least liquid asset. The increase in stock was due to decline in local demand as government has not spending on the public development programs, results in piling up of stocks. The increase in cash and bank balance to Rs 979 million as compared to previous year balance Rs 192 million, which is a positive sign for the company to meet its short-term liabilities. (Annual Reports, FCCL, 2010, 2011) As compared to its competitor Attock Cement Pakistan Limited, FCCL is not at safe edge. Attock cement Pakistan Limited has been maintained its liquidity quite efficiently above 1. The decrease in current ratio in FY11 was due to the decrease in cash and bank balances and short term investments. The competitor company has invested in waste heat reco very system and other fuel generating projects, which helped Attock Cement Pakistan Limited to balance its energy. Fauji Cement Company limited (Rs) FY11(000) FY10(000) FY09(000) Current Assets 4,792,126 2,070,718 1,654,014 Current Liabilities 5,384,740 3,984,915 2,628,010 Stock 493,922 96,684 137,451 Receivables 36,960 24,514 54,641 Creditors 207,636 315,661 197,703 (Annual Reports) Current Ratio FY11 FY10 FY09 Fauji Cement Company limited 0.89 0.63 0.81 Attock Cement Pakistan limited 1.70 2.62 2.43 (Annual Reports) Current Ratio Debt: Equity Ratio FCCL has increased its gearing continuously over the last three years. In the FY10, the increase of long term finance by 91%, from Rs 6,224 million last year to Rs 11,909 million in FY10, was the main cause of the increase in the proportion of debt. This increase in debt was due to the finance required for the construction of a new line 7560 TPD cement plant. In the FY11, the debt to equity ratio is at stable position. The shareholders might be dissatisfied from the performance of the company and feel reluctant to invest further in the company. (Annual Reports, FCCL, 2010, 2011) According to spokesman of APCMA, the continuous losses to cement industry are unbearable and might endanger the servicing of Rs 132 billion in loans the cement sector owes to the banking sector. (Today, 2011) From the table given below, Attock Cement Pakistan Limited has totally depending on the equity from the last two years. Attock Cement Pakistan Limited has reduced its dependence on debt in those conditions where cement sector were facing losses. FCCL should benchmark its debt dependence with the Attock Cement Pakistan Limited. Debt: Equity Ratio FY11 FY10 FY09 Fauji Cement Company Limited 0.55 0.57 0.40 Attock Cement Pakistan Limited _ _ 0.13 (Annual Reports) Debt Equity Ratio SWOT Analysis Strengths: Fauji cement has installed a German technology plant that ameliorates its clinker production by 7200 tons per day raising the total capacity from 1.1 billion tons to 2.2 billion tons. Moreover, the plant is coal efficient as it replaces 170 tons coal per day. (Nation, 2011) United Nations Environment Program (UNEP) has certified Fauji cement Ltd under contribution to Plant the Planet: Billion Tree Campaign, as the company stands firm over environmental issues. Moody International has awarded the company, for maintenance of up to date and effective environmental systems, ISO 14001 status. (https://www.fccl.com.pk/main/index-7.html, n.d.) In the cement industry major volume leaders, in stock market Karachi, according to topline sector analyst are three companies including Fauji cement with 31.2 million shares gaining Rs 0.3. (Times, 2012) The company has installed a refuse derived fuel system at a cost of Rs 320 million, reducing 300-400 tons of garbage to produce c heap power for the companys production needs. (Recorder, 2011) The company despite high debt amounts has sound cash flows to support its leverage, with better interest coverage ratios. (IGI, 2008) Weaknesses: Fauji cement has high financial risk involved as it is heavily geared with debt rising from Rs 325 million to Rs 1 billion in one year. (Recorder, 2011) The company has failed expand its local demand base while certain competitors like Lucky cement have maintained domestic volume health. (Annual Reports, FCCL, 2010) Opportunities: APCMA has estimated that if in land freight subsidy of 50% is provided by the government exports would raise by 36%. (Times, n.d.) In the 2011-2012 fiscal budgets the federal excise duty was reduced from Rs 700 per ton to Rs 500 per ton, special excise duty was abolished and general sales tax reduced by 1%. Such amendments reduced pressures on price by Rs 30 per bag. (Shahzad, 2012) Cement exports to Afghanistan comprise for 50% of total cement exports for the country. Moreover, the prices of cement exports to Afghanistan have increased by 25% ensuring sustainability of producers. (APP, 2012) Local cement dispatches have escalated by 8% for 9MFY12 with improvement in north region demand. In Mar-12 the dispatches increased to 2.55 m tons a growth of 15%. (Markets, 2012) Threats: The cement manufacturers in north zone face the problems of high transportation costs. The costs of export freight are escalating due to rising diesel costs and locational distance from sea port in the south. (Tribune, 2012) India is an attractive market for Pakistani cement manufacturers but the imposition of non-tariff barriers by the rival government deprives the sector of prospective opportunities. (Rizvi, 2012) Inflationary pressures on the construction materials discourage construction and development sector growth, having dire consequences for the cement industry. For instance, price of 1000 bricks is Rs 7000 rising from Rs 4200 in 10/11. (Tribune, 2012) Currently the cement sector operates at 70% of capacity utilization unable to pass high production costs to consumers or reap the benefits economies of scale. (Times, 2012) Porter Five Forces Analysis Threat of New Entrants/Barrier to Entry: High capital Requirements: Cement sector requires huge investment for plants, for which leverage injection of cash is needed. Resultantly new entrants will be dissuaded. Economies of Scale: By producing on large scales with new and large capacity production lines has made the new entry much difficult in this sector. Like acquisition of new plant with largest capacity by FCCL which is the first German plant in Pakistan which created a barrier for new entrants. Distribution Channels: Massive floods which disrupted all the distribution channels including supply of key raw materials such as coal and limestone and the cement which could not be transported over to the market place for sales. (Khan, 2011) Consequently new entrants of cement sector are deterred. Government Regulations: Government policies also play a vital role for creating barriers in cement sector. Two years back Government of Pakistan (GOP) agreed to share transportation cost from mils to sea port. Which boosted the exports but it is regrettable that promised support was not provided. Owing to this situation threat become much less from new arrivals in this sector. The overall threat of new entrants is low. Threat of Substitute: At present, there is no substitute for cement. Bargaining Power of Customer: Cement buyers possesses high bargaining power as most of them purchase in bulk by availing discounts. Little differentiation of product also increases their power to influence as they can easily switch from one supplier to another. While the household users of the cement has no bargaining power as rates are fixed and controlled by industry cartelization. This force is of medium strength in this sector. Bargaining Power of Supplier: Bargaining power of suppliers mainly depends upon the raw material availability in any sector. FCCLs main raw materials are lime stone and clay which are used in dry process. These are easily available in Pakistan, hence suppliers are unable to exert pressures .FCCL has shifted to alternate fuel system called Refused derived fuel (RDF) along with other market leaders which made the suppliers of fuel less influential. Rivalry and Competition: FCCL is a cartel member with other leaders under the umbrella of APCMA (All Pakistan Cement Manufacturers Association).Cartelization resulted in price hike and has limited the competition in cement sector (The Nation.com). Although GOP is taking some measures to break it but these are not substantial. Which is preventing rivalry but the presence of strong and efficient units have kept the level of competition high, among the cement industry. Moreover, the decrease in overall demand and an increase in fuel costs will further intensify the competition through curtailment of industry margins. (Times, 2009) (Khan, 2011) Conclusion and Recommendations The reported position of the current ratio remained less than 1 in consecutive three financial years. Low current ratio means that companys current assets have not increased in the proportion of current liabilities. Therefore, Fauji Cement Company limited should invest more in current assets; increase cash and bank balance, increase liquid asset so that company would be able to pay its current liabilities when it would be required. Moreover, company should as well try to reduce the stock turnover days and take other appropriate measurements to improve its current position. Fauji cement has maintained its gearing position to acceptable level. Therefore, this would be beneficial for the companys future prospects. As the company is neither committed with any high finance cost nor any long term liabilities concern. Company has as well the advantage to raise debt from the financial institution if required for the future investment. Above all new investor would also attract by observi ng debt-equity ratio because investors are risk averse, and company has the low risk for the future. The turnover reported by the Fauji Cement Company limited has fluctuated trend. As turnover of the company substantially reduced in FY10 as compare to FY09 and in FY11, company reported recovery but still not matched with the turnover reported in FY09. The reason of reduction in turnover is the reduction in capacity utilization, shortage of electricity and the prices. Therefore, Fauji Cement Company limited should improve the efficiency of its marketing staff, improve the quality of its cement produced and increase the budget of advertisement so that company makes its position in the tough competitive market. The overall profitability of Fauji Cement Company limited has faced a decline trend. In FY10, Companys profit substantially decreased as compare to FY09. However, in FY11, company has improved its performance and reported an increase in profits but is still unable to compe nsate the downfall faced in profitability. The reasons behind the reduction of profitability are the distribution cost, travelling and entertainment expense, which has significantly increased the cost. Moreover, decrease on sale volume has negative impact on the profitability threatening the companys market standing and competitors gaining edge over the Fauji Cement Company limited. Therefore, it is important for the Fauji Cement Company limited to increase its market share and increase its distribution network to gain the marketability and competitive position in the industry. Fauji cement should as well try to reduce the overheads cost which is directly or indirectly attributable to the product, further implement cost reducing techniques on its business which ultimately beneficial for the enhancement of the companys profitability.

Race, By John Davidson - 892 Words

constantly in many sources and evidence of the past. This has led many historians to merely regard race as another mode of explanation, which is the case for studying race in Latin America. One historian, John Davidson (like a few others) are somewhat doubtful about the concept of race. He like many others fears that it is way too clumsy to describe as well as too complex. Many historians do not like using concepts that are fabricated. As Davidson says â€Å"race exists as a socially constructed reality.† Race however is no longer an easy way to categorize especially with newer concepts such as â€Å"identities† and â€Å"ethnicities†. This makes it increasingly difficult to use race as an organizing concept. This can be said of Latin America; due to conflicts with racial ideologies and identities many Latin American countries try to distance themselves from the black/white dichotomy. One example can come from Dominican Republic, Black Dominicans due not use the term black. Instead many choose terms mullatto or trigeà ±o (tan) to distance themselves from the term Negro (black). Each of these distinctions has claimed to come from sources however e ach identity emphasizes different elements that can appeal to different historians. Many Latin American historians will use the many identities and interpretations of race; nevertheless they will all come from the same source. This includes many Latin American historians such as Alan Knight. Franklin Knight, Harry Hoetink, etc. Although theyShow MoreRelated‘Is good management essential in achieving organizational goals of organizational efficiency, effectiveness and productivity?’1587 Words   |  7 PagesIN ACHIEVING ORGANIZATIONAL GOALS OF ORGANIZATIONAL EFFICIENCY, EFFECTIVENESS AND PRODUCTIVITY?_ Management is the process of achieving organisational goals through the four functions of management, planning, organising, leading and controlling (Davidson, 2006: 5). 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Sociology Of Race And Ethnicity - 1837 Words

Nicole Tetzlaff Sociology of Race and Ethnicity Essay Exam 1 Understanding race and racism can be very difficult for American citizens. This also leads to confusion when discussing current events around racial disparities and inequalities. Mainstream American general society views racism and race differently than sociologist who study these disparities and inequalities. The idea of double consciousness and ethnicity directly relate to the different ways in which different individuals understand and experience race and racism. In our current society where media is widely used, individual’s understandings of these topics becomes confusing and difficult to understand and/or comprehend. Discussing the blurry ideas of race and racism is so†¦show more content†¦One of the biggest mistakes that the white population makes in Mainstream American society regarding the way they view racism is the way in which they actually think or envision racism. Racism is thought to be events that have happened in history, but that don’t necessa rily happen â€Å"anymore†. Many of American’s that are white typically think of significant occurrences such as slavery, segregation, wars between races, and internment camps. Racism is viewed very differently for the non-white population. Discussed in lecture by Professor Chernega, â€Å"non-whites think of racism in terms of something that happened to them yesterday, today, or even potential racism they will face in the future† (Chernega, 2017). This produces two very different views that two different populations experience simultaneously. There is a reason for this difference in understanding what discrimination means. It is no surprise that blacks have faced a much longer period of discrimination when compared to whites. Another idea that plays a large part in the reason for these differences of understandings is the way in which history is told. Many historic stories are told as if racism is something that only occurred in the past and doesn’t nece ssarily happen anymore. More often than not, racism is not addressed as a current issue when historic events are explained. Author Kohl discusses the issues regarding children’s literatureShow MoreRelatedSociology : Race And Ethnicity983 Words   |  4 PagesJaneva Walters October 2, 2015 Professor Gambs Sociology 100 Race and Ethnicity Although the terms race and ethnicity are very common, very few of us accurately describe the difference between the two. Simply because we tend to combine them into the same definition. Race is a category of people widely perceived as sharing socially significant physical characteristics such as skin tone. 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The Vietnam War And Its Horrors - 1130 Words

The Vietnam War and its horrors came into the living rooms of people through from news reports through television. This war was the first war to issue full freedom to the press. There was a huge response to what people saw in a negative way. Many people thought the war should not have been televised. According to â€Å"U.S. at War: A History of Shame†, it was until 1965 that the Vietnam War became a big story on television. Journalism coverage of this war using television had a huge effect on the people of the United States and how they view the Vietnam War. The Vietnam War and its horrors came into the living rooms of people from news report through television. This war was the first war to issue full freedom to the press. There was a huge response to what people saw in a negative way. Many people though the war should not have been televised. It was until 1965 that the Vietnam War became a big story on television. Journalism coverage of this war using television had a huge e ffect on the people of the United States and how they view the Vietnam War. This is according `to â€Å"U.S. at War: A History of Shame.† For the first time in history, the abomination of war actually came into the homes of Americans. Americans were able to see children being killed by burning to death, homes and villages being totally destroyed and our solders being sent home in body bags. This happened for more than ten years and was reported all throughout the day. In the early stages ofShow MoreRelatedThe Horror Of The Vietnam War890 Words   |  4 PagesSince the Vietnam War was fought in Southeast Asia, it is difficult for many Americans to imagine what the people of South Vietnam experienced during the Vietnam War. To better understand, the American people had to rely on eye-witness accounts, film clips, and photographs. One photograph in particular captures the horror of the Vietnam War. 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The Vietnam War was, in my opinion, the first war that reallyRead MoreThe Things They Carried By Tim O Brien1597 Words   |  7 Pagescaptivating powerful war story memoir, which is beautifully and intensely well written by Tim O Brien. The novel explores the physical and emotional trauma of the Vietnam War and its impact on soldiers fears. The author and protagonist Tim O’ Brien communicates provoking nonlinear narratives or frame stories through his own point of view presenting the audience with a window into the disturbing widespread, endless, and meaningless death, violence, and savagery in war-torn Vietnam. The author cleverlyRead MoreThe Effect of Vietnam War on the Soldiers1679 Words   |  7 Pages The Vietnam War was the longest and the most unpopular American war of the twentieth century. The United States was involve in the Vietnam from 1944 to 1973, but it was only during the last years that the U.S deployed ground troops (Lawrence 1). For the first time the United states was the aggressor. Vietnam is situated thousands of miles from the United States, so Vietnam was not a direct threat to the United States’ safety. The Vietnam leader Ho Chi Minh seem to look up to the United States,Read MoreSongs and Poems Written on Wars: Imagine by John Lennon 793 Words   |  3 Pageseffectively achieved through song. The Vietnam War also known as the American War was the longest major conflict that Australians have been involved in. It began in 1962 and ended in 1975. The Vietnam War was the cause of the greatest political and social dissent in Australia since World War 1. In 1959 war broke out between communist North Vietnam and democratic South Vietnam. America and there allies, which include Australia, sent thousands of troops over to Vietnam in hope to stop the spread of Communism

Accounting homework questions Example

Essays on Accounting homework questions Assignment Sur Finance and Accounting May 11, Variance analysis is a popular decision making aid in many organizations. The premise upon which the approach derives its support comes from the realization that a company’s performance is determinable through comparison of actual performance with budgeted performance. Usually, a specific variance enables the management to understand whether a process is performing worse or better than was anticipated in the budget. Additional management tools include investment analysis tools such as net present value, by which the management can establish the most profitable investment areas of the business. This paper explores these management tools using practical real life cases from different corporations. 1. Activity Variances for June Revenue Variance = Actual Revenue – Planned Revenue = (53.40*3,100) – (53.40*2,600) = 165,540 – 138,840 = 26,700 (F) Personnel Expenses Variance = Actual - Planned = (39,700 + (12.60*3,100)) – (39,700 + (12.60*2,600)) = 39,060 – 32,760 = 6,300 (U) Medical Supplies Expenses Variance = Actual - Planned = (1,800 + (10.40*3,100)) – (1,800 + (10.40*2,600)) = 32,240 – 27,040 = 5,200(U) Occupancy Expenses Variance = Actual - Planned = (8,200 + (2.30*3,100)) – (8,200 + (2.30*2,600)) = 15,330 – 14,180 = 1,150(U) Administrative Expenses Variance = Actual - Planned = (6,100 + (0.20*3,100)) – (6,100 + (0.20*2,600)) = 6,720 – 6,620 = 100(U) Total Activity Variance = Actual - Planned = 26,700 – (6,300 + 5,200 + 1,150 + 100) = 26,700 – 12,750 = 13,950(F) 2. Efficiency variance for power cost Overheads Efficiency Variance = (Actual Hours*Overhead Rate) – (Standards Hours for actual Production*Overhead Rate) (Dalci Tanis, 81) =53,240*5.10 – 7,000*7.5*5.10 = 3,774(F) 3. Segmented income statement for the company (Accounting for Management, 1) Sales Channel Total Retail Wholesale Sales Revenues 740,000 500,000 240,000 Less: Variable Expenses Variable Expenses 346,000 245,000 101,000 Contribution Margin 394,000 255,000 139,000 Less: Fixed Costs Fixed Costs 152,000 79,000 73,000 Traceable Fixed Expenses 128,000 90,000 38,000 Total Fixed Costs 280,000 169,000 111,000 Profit Margins 114,000 86,000 28,000 4. a) Company’s income from processing a batch of the common input into X and Y Cost of common product = $71 Cost of processing = $10 Total production costs = $81 Revenue from Selling Products A and B: Sale of A = $29 Sale of B = $45 Total revenues = $74 The company makes $74 – $81 = -$7, For every batch of common product, the company makes a loss of $7 b) Selling each of the intermediate products, A and B as is vs. further processing Selling the intermediate products as they are incurs the company a loss of $7 per batch of common product. Hence, it worth considering alternative processing options. Total costs to produce the intermediate products (from previous calculation) = $81 Additional cost to make A into X = $14 Additional cost to turn B into Y = $29 Total cost for processing past the intermediate products = $124 Sale price of X = $39 Sale price of Y = $91 Total sales = $130 Total profit with additional processing = 130 – 124 = 6 The company would make a profit of $6 dollars per batch through further processing of the intermediary products. Selling the products at the intermediary stage makes the company a loss of $7. Therefore, further processing increases the company’s profit margin by $13 dollars a batch. Consequently, the product processed further into the final products X and Y for additional value. 5. Net present value of the project at 14% discount rate Cash outlay to fund the project: Direct investment $100,000 Cash savings in funding due to currently unused warehouse space: 0.25*200,000 = $50,000 Therefore, Actual investment cost = 100,000 – 50,000 = 50,000 Year Cash Flow Discount Factor (Given 14% discount rate (Boehlje Ehmke, 5) Present Value 1 17,000 0.8772 14,912.40 2 17,000 0.7695 13,081.50 3 17,000 0.6750 11,475.00 4 17,000 0.5921 10,065.70 5 17,000 0.5194 8,829.80 Present Value 58,364.40 Net Present Value = Present Value (of Net Cash Inflows) – Present Cash Outlay of the Project NPV = 58,364.40 – 50,000 = $8,364.40 The NPV of the project at 14% discount rate is $8,364.40 Whether to Accept or Reject the Project If is greater than zero (NPV0), the investment would be worthwhile, and therefore the project can be accepted. Since the NPV is positive, the project is worthwhile and is worth undertaking by the company, as it will result in accumulated earnings worth $8,364.40, according to the present value of money. The project will generate more cash inflow that will be the cost necessary to complete it. Works Cited Accounting for Management. Segment Reporting and Profitability Analysis-Segmented Income Statements. Accounting for Management. 2012. Web May 11, 2012 Boehlje, M and Ehmke, C. Capital Investment Analysis and Project Assessment. Purdue University. 2005. Pp. 3-5. Print. Dalci, I and Tanis, V. Activity-Based Variance Analysis: Another Approach to Overhead Costs Variance Analysis. Review of Economic and Business Studies. 2005. 9(10) Pp. 73-100. Print.

LUCENT TECHNOLOGIES Example

Essays on LUCENT TECHNOLOGIES Assignment Question DuPont Analysis – Lucent Technologies ROE = Net Profit X Asset x Financial Margin Turnover Leverage = Net Income X Revenue x Total Assets Revenue Total Assets Shareholders’ Equity 1st Quarter 1998 = 1124 X 8724 x 24752 8724 24752 4671 = 0.1288 X 0.3525 x 5.2991 ROE = 24.06% 1st Quarter 1999 = 1523 X 9842 x 31641 9842 31641 8437 = 0.1547 X 0.3111 x 3.7503 ROE = 18.05% 1st Quarter 2000 = 1175 x 9905 x 38634 9905 38634 16079 = 0.1186 x 0.2564 x 2.4028 ROE = 7.31% The increase in ROE in 1st quarter of 1998 was continuity in Lucent Technology’s start-up soaring of profits as the company was enjoying gains. However, in the same period, a considerable decline was observed in ROE mainly because of Lucent Technology’s losing grip on its operations, as a result, earnings went down from 24% to around 18%. The major setback which hit Lucent Technology in 1st quarter of the year 2000 that erased the earnings so sharply had significant reasons. The filing of material information as per Form 8-K to SEC hurt Lucent Technology a lot. The material information that was reported included the impacts of decrease in the earnings from Service Provider Network (around 2%), customer shifts to optical based technologies, capacity problem, production problems, delivery issues and huge cancellations of customer orders. These problems shrunk the ROE of Lucent Technologies from 18% to somewhat 7% as compared to the same period in the previous year. Question 2 Seasonally Adjusted Change Dec-99 Sep-99 Jun-99 Mar-99 Dec-98 Sales 9,905 10,575 9,315 8,220 9,842 -6.34% 13.53% 13.32% -16.48% Accounts Receivable 10,143 10,438 9,486 8,752 9,185 -2.83% 10.04% 8.39% -4.71% Inventory 5,380 5,048 5,179 4,332 3,778 6.58% -2.53% 19.55% 14.66% Gross Profit 4,646 4,869 4,481 3,893 5,212 -4.58% 8.66% 15.10% -25.31% The explanation of "bump in the road," provided by Lucents Chief Financial Officer, Don Peterson seems a bit unrealistic. The claim of fall in the earning being a temporary cause does not seem valid because of severe problems in the operations of the business. Lucent Technology was losing sales growth on consistent basis. Accounts Receivables were on the varied side as well with no persistent growth. However, due to cancellation of orders, the inventory also piled up a lot with huge growths in amount inventory increasing holding cost of the company. Gross Profit growth was also disappointing with high negative growth percentages on consistent basis. Question 3 (a) The 2nd quarter of 1999 was the exact year when troubles hampered the performance of Lucent Technology. Major declines in sales and earnings were reported along which put the company into extreme difficulties. Lucent Technologies could not make those impacts till 1st quarter of 2000. Question 3 (b) The class-action lawsuits might not have merits because it is the absolute disclaimer of the listed companies that investment in shares is subject to risk and volatility. Therefore under such protections available to Lucent Technologies, there are fewer chances of Lucent Technologies to be penalized. Question 3 (c) Apparently there are very less chances for Lucent Technology to recover as current operations are adding nothing to the company. More strategic changes need to be implemented if recovery and future growth is required in future. References R. A. Brealy, S.C. Myers, and F. Allen. Principles of Corporate Finance, 8th ed. Northwestern University: McGraw-Hill/Irwin P, 2008. Print

Singapores Economy Transformation free essay sample

INTRODUCTION In 1994 the World Bank described Singapore as the most successful economy in the world and moved Singapore from a third World country to a First World nation within a generation. From the Singapore Department of Statistics, Singapore’s gross domestic product (GDP) has grown approximately 7% annually from 1965 to 2009. This was accompanied by a low inflation rate of averaging about 2. 1% yearly. Singapore’s 2009 per capita income of US$36,537. 00 is the second highest in Asia after Japan and about 78% of the level of the United States (US). According to 2010 Global Competitiveness Report by the World Economic Forum, Singapore’s economy is now ranked third in the world ahead of the United States, hosting to over 7000 multinational companies (MNCs). Table 1 provides a summary of Singapore’s economic and social progress over the past 44 years. |1965 |1970 |1975 |1980 |1985 |1990 |1995 |2000 |2005 |2009 | |GDP (S$ Million) |8,891 |16,207 |25,259 |37,959 |51,702 |77,299 |118,963 |162,379 |180,496 |265,057 | |GDP Growth (%) |7. 5 |13. 7 |4. 1 |9. 7 |-1. 4 |9. 0 |8. 0 |9. 6 |8. 4 |-1. 3 | |Inflation (%) |0. 3 |0. 4 |2. 6 |8. 5 |0. 5 |3. |1. 7 |1. 3 |1. 7 |0. 6 | |Per capital GDP (US$) |512 |914 |2,505 |4,854 |6,466 |12,110 |23,806 |23,043 |25,191 |36,537 | |Gross Domestic Savings (% of GDP) |10 |18 |29 |38 |41 |43 |50 |48 |47 |44 | |Total Population (Million) |1,887 |2,075 |2,263 |2,414 |2,736 |3,047 |3,526 |4,018 |4,250 |4,987 | |Unemployment Rate (%) |9. 2 |8. 2 |4. 5 |3. 5 |4. 1 |1. 7 |2. 7 |4. 4 |5. 3 |3. 2 | |Literacy Rate (% above 15 yrs old) |73 |78 |83 |86 |89 |91 |93 |94 |95 |96. 3 | |Life Expectancy (years) |66 |68 |70 |71 |73 |74 |76 |78 |79 |81 | | Table 1. Singapore’s Economic and Social Progress, 1965 – 2009 Sources: World Bank Development Indicators, 2010, The World Bank; Singapore Department of Statistics and Ministry of Health, Singapore. Since independence, Singapore had enjoyed an impressive economic growth record. This essay aims to analyze the contributing factors towards the successful transformation of the Singapore economy by adopting the Trinity development model. The Trinity development model includes the EGOIN theory, the Triple C theory and the S-curve. This model seeks to provide a common principle for development through functional solutions to ease poverty and supports economic growth. CATEGORIZATION OF THE SINGAPORE ECONOMY (THE S? CURVE) The S-Curve classifies the global economy into three groups: turtle (low income, slow growth), horse (middle income, rapid growth), and elephant (high income, slow growth). The growth rate of the per capita income is shown by the slope of the S-Curve, the steeper the slope will correspond to higher growth rate. According to Lim Choon Yah, in terms of per capita income growth rate on a yearly basis, elephant economies normally grow at less than 3-4%, whereas horse economies grow at more than 4%. Turtle economies, like elephants, will grow at 3-4% at best. In 1965, Singapore was categorized as a mature turtle economy afflicted by low savings and foreign investments, poor infrastructure and massive unemployment. Since then, Singapore experienced a spectacular economic transformation and has moved into the Horse economy. Nowadays, Singapore is between the Horse and Elephant economy as it has an ageing population, but still has high savings and high investment rates. The common characteristics of the high growth the Horse economies are: 1. Control population growth 2. High saving function . Export-oriented industrializing policy 4. High investment in economic infrastructure 5. High investment in human resource development 6. Priority on economic achievements 7. Emphasis on market-forces as an engine of growth Singapore has all this characteristics established by the government to enable her to enjoy superlative growth rates. Remove any of this characteristics, the growth engine will slow down. As stated earlier, Singapore has ageing population issues which are common in Elephant economies. The issues created a labour shortage and furthermore, affect the output produced. The government tries to solve the problem by attracting high skills foreign workers into the labour market. The following diagram shows Singapore’s economy in comparison with the other East Asian countries using the EGOIN per capita rates. [pic] Figure 1,S-Curve for the 17 East Asian Economies Source: Lim (2005). EGOIN is closely associated with the S-Curve. The higher the level of EGOIN, the higher the economy will be on the S-Curve. Economies with rapidly improving EGOIN would enjoy rapid growth, and these economies belong to the horse category like Hong Kong and Singapore. On the other hand, turtle economies are those with low and stagnant levels of EGOIN such as the North Korea and Myanmar, and the EGOIN levels of elephant economies are very high but growing very slowly at the same time like Japan. The EGOIN theory distinguishes between rate and level of growth. Economies that experience quantum-leap improvement in their EGOIN, for example a move from planned economies to market-oriented economies (E), or adoption of pro-development investment and trade policies (G, E, I), will enjoy a jump in their economic growth rates. EGOIN has a direct role on the cause of economic growth of a country and it would be used to further elaborate Singapore’s economy success. MIRACLES OF THE SINGAPORE ECONOMY (THE EGOIN AND TRIPLE C THEORY) The EGOIN and Triple C theories would provide a good analysis to the economic transformation of Singapore. EGOIN Theory EGOIN represent the five domestic co-determinants of economic development: Entrepreneurship (E), Government (G), Ordinary Labor (O), Investment (I) and Natural Resources (N). The EGOIN theory adopts a human-centred approach, where E, G and O are considered as the active agents because they possesses the social capacity of an economy to accumulate and utilize the available physical and natural resources. I and N are passive agents providing the tools, infrastructures, resources and physical capital to support economy development. Two key features of the EGOIN theory are: 1. EGOIN is multi-causal and its focus on government provides a higher degree of realism to the theory. 2. EGOIN emphasizes on the human determinants of development, in particular the quality of government and its bureaucracy. Triple C Theory This theory suggested that economic growth is propelled by three engines: domestic, regional and global. The domestic engine is fuelled by the EGOIN of the economy, while the regional and global engines are lubricated by trade and investment openness. Trade and investment are necessary for an economy to benefit from the inventions and technological advancement of other economies. Trade and investment also assist to increase market size and enhance competitiveness. Hence a horse economy that embraces open trade and investment policies stands to grow at a much higher rate than a turtle economy that adopts close trade and investment policies. The theory also highlighted that in order to drive the other two engines, it is necessary to have a strong domestic engine. If the domestic engine fails, in particular â€Å"G†, the regional and global engines will stall. So it is paramount for the government to harness the benefits of globalization. The following would give an insight into how Singapore’s economic growth and success is government-made through market-supporting public policies. Industrialization Led the Road to Economy Triumph (EGOIN’s G, I and N) The Singapore government is the creator of a disciplined and result-orientated society and it has penetrated every aspects of the socio-economic life through public campaigns, governmental agencies and regulations. The EGOIN’s ‘G’ plays a pivotal role in the successful industrialization of the Singapore’s economy. Example is the setting up of the Economic Development Board (EDB) to promote industrialization and economic development. Singapore forged ahead towards a highly industrialized economy, encouraging foreign investment and protecting businessmen’s interests to acquire the highest and fastest economic effects, which related to high EGOIN’s ‘I’. They are listed in the following: (i) Physical and human capitals. It consists of a broad range of development activities, like the establishment of physical infrastructure, construction of industrial parks, upgrading of human capitals, and creation of a legal and administrative framework for industrial promotion. (ii) Fiscal incentives. There are attractive tax benefits to attract foreign investors to Singapore for the manufacturing sectors. Other incentives include the Investment Allowance, Warehousing and Service Incentive, Expansion Incentive, and Accelerated Depreciation and Technical Advisory Services, which contributed towards the industrialization of the economy. (iii) Transformation through industrialization. The initial surge was on labour-intensive industries. However, the orientation towards labour-intensive industrialization has shifted towards higher skilled and higher value-added activities since 1979. In relation to EGOIN’s ‘N’, the government maximizes the use of its unique natural resources as the entrepot. By early 1970s, with industrialization gathering momentum, and trade in services expanding in tandem, the development of the transport and communications sector also accelerated. Singapore’s geographical advantage allowed it to successfully develop its air transportation, telecommunications, shipping and cargo handling activities. The government invested heavily in the physical infrastructure, making Singapore an attractive manufacturing place. Besides the excellent communication networks also helped to increase its competitiveness by reducing the cost of manufacturing in Singapore and export to other countries. Finally, there are no programme of industrial growth can succeed unless there is political stability. Investors, domestic or foreign want to be able to predict the future with confidence before they commit their capital investment. Thus, these effective strategies, policies and capitalist approaches have contributed substantially to Singapore’s rapid economic transformation. Outward and Forward Looking Pave the Way to the Next Economy Evolution (Triple C theory) Singapore needs to open up and develop economic relationships with the rest of the world to be able to develop and grow. Singapore is driven by all three engines: the domestic, regional and global engines. From the EGOIN theory explanations, it shows that the government has played a crucial role in the exceptional development of Singapore’s domestic market, which is a prerequisite for growth. Singapore has built a strong domestic engine with its effective and efficient government and a highly skilled labour force. Singapore is a small state with limited domestic market and natural resources. Hence Singapore industrialized through an export-oriented strategy to expand its market, with factories build in advance of demand and a highly skilled workforce readily available. It attracted many foreign investors to Singapore to develop the manufacturing and services sectors. Singapore’s outward-looking policy contributed significantly to its successful development and accelerated growth rates. Regional and international growth is constantly transferred between Singapore and its trading partners which enabled Singapore to grow collectively with other conomies. Example is the opting of a policy to regionalization in 1993 for sustainable long-term growth. It is an extension of the growth triangle experiment for Singapore to borrow resources and extend its production frontier by encouraging its labour-intensive industries to relocate in Batam or Johor. Other regionalization programmes includes the development and management of industrial parks and townships such as the Wuxi I ndustrial Park and the Suzhou Industrial Township in China. Since independence, the Singapore government has promoted a free trade system with a well-developed infrastructure and services as well as establishing several business partnerships. For instance, Singapore has been a member of the Asia-Pacific Economic Cooperation (APEC) since 1993 and World Trade Organization (WTO) since 1995 and its main business partners are the US and the economies within the European Union (EU). Singapore also benefits from bilateral trade to expand market opportunities and to boost free trade with Free Trade Agreements (FTAs). The cumulative causation theory, which forms the basis of the Triple C theory, suggested that wealth tends to create wealth and poverty tends to create poverty. Example from table 1 has shown that during 1985 – Falling demand crisis, and 2009 – United States financial crisis, Singapore had experienced negative GDP growth rates due to its exposure to international trade. Therefore Singapore’s economy is vulnerable and needs to continue to plan ahead to diversify its industries and services, to protect its economy performance and implement measures to cushion the impact of any economic crisis. Strengthening the ‘Only’ Natural Resources in Singapore (EGOIN’s O and I) In the 1980s, the threat of competition from lower-cost labour countries, and the disruptive effects of the oil crisis in 1973 and 1979 prompted a review in Singapore’s economic strategy. Singapore adopted numerous policies to improve labour productivity to increase competitiveness and sought to be the preferred regional headquarters for multinational corporations (MNCs) with world-class infrastructure, industrial parks and research facilities. Beginning of 21st century, Singapore became a maturing industrial state and faces the prospects of slower economic growth. The global slowdown in electronics demand and technology spending had affected Singapore’s annual growth rate to about 3 to 5%. However there is room to improve labour productivity by moving further up the value chain and upgrading skills. Singapore’s economic strategy shifted towards the development of the financial sector and the promotion of high value-added technology-intensive and skill-intensive exports of goods and services. The government spends heavily on its labour force by upgrading the quality of skills of the population by offering the Skills Development Fund (SDF) and promoting the Skills Programme for Upgrading and Resilience (SPUR). Both initiatives relates to high EGOIN’s ‘O’ and ‘I’. SDF aims to subsidize approved training of employees by employers. SPUR is to enhance the funding scheme developed to scale up training programmes to help companies and workers during economic downturn and to build strong capabilities for the recovery. In addition, the government also sets up the National Wage Council (NWC) to manage the wage and labour policies to maintain its export competitiveness and the harmonious relationships within the workforce. Education is another impetus for economic advancement, because knowledge will accumulate capital through profits made when it is applied to production of goods and services for domestic and export markets. This knowledge acquisition remained to be the centerpiece of government policy, with the recent push for continuous education at all levels of the population. However due to labour shortage, Singapore has to import a great numbers of labours and talents to raise the quantity and quality of the labour force to stay ahead of the competition and to sustain its economic progression. Finally, Singapore government continues to invest heavily in the human capital to encourage the workforce in learning for life and advancing with skills to meet the fast changing needs of the free market economy. Laying the Foundation for Economic Growth (EGOIN’s ‘E’ and ‘I’) Singapore continues to thrive in its rigorous business environment. This dynamic business landscape is developed by public enterprises through Government-Linked Companies (GLCs), like the Jurong Town Corporation (JTC) and SINGTEL. Their main purpose is to invest heavily in the physical infrastructure of the country to promote basic industries, building public infrastructure, and to undertake major business operations. Other reasons are to offset market failures and to correct entrepreneurial inadequacies, the flawed capital market, the lack of market information, and the unwillingness by the private sector to bear with the risk involved. These public enterprises played a major role by creating the â€Å"linkages† transmitting growth to other sectors of the economy. Other contributions of the public enterprises were in the fields of capital formation, value-added employment, and technological development. Another good example is the setting up of the EDB. Its objective is to promote the growth of the manufacturing industry by managing the industrial estates, providing financial incentives and assistance, and technical consultancy services as well as conducting economic research. EDB also sets up a Venture Capital Club (VCC) for local entrepreneurs to interact with potential investors and assists them towards high-technological industries and overseas investments. Another governmental agency, the Standards, Productivity and Innovation Board (SPRING) is established to encourage Singaporean entrepreneurship to supplement the MNC strategy by offering financial schemes and partnerships. The Singapore Science Park, One-North and Biopolis were established to house the MNCs and provide a focal point for industrial Research and Development. These illustrations had shown Singapore government’s strategy to shape a high EGOIN’s ‘E’ and ‘I’ by creating a global hub for business, investments and talents. Vital Modernization to Stay Ahead The following are other contributions for Singapore’s high EGOIN and strong economic performance: 1. Expanded Singapore’s economic space beyond the immediate region. Singapore has upgraded its capabilities by consolidating strengths in various niche areas, innovating, providing funds for Research and Development costs. Governmental agencies have also encourage public and private partnerships in overseas projects through joint ventures, financing, focusing on expert branding and developing overseas markets, especially the Small and Medium Enterprises (SMEs). Singapore needs to develop new engines of growth (health-care and education) while continue to strengthen its current economics pillars (electronics and finance). 2. Remake Singapore to be an innovative nation. Measures such as the broadening of the school curriculum; extend education subsidies to private universities; facilitate extended stay for retrenched foreign talents were put in place. An improved personal tax schemes to attract foreign entrepreneurs were implemented. In addition, local music and arts scene were boosted to make Singapore a more attractive and vibrant city for foreign talents to stay. CONCLUSION Singapore’s spectacular economic development is founded on policies that focus on strategic investment in infrastructure, education, skill upgrading, openness to capital, technology and ideas from abroad, as well as a cooperative relationship between labour, management and government. The policies improve EGOIN, hence, strengthen the domestic engine and facilitated its export-orientation behavior. This strategy attracted MNCs to invest in Singapore plus the many benefits such as a pro-business environment, attractive tax incentives, liberal immigration policies, skilled and talented labour force, robust infrastructure as well as the creation of a business-friendly environment that is supported by stable macroeconomic policies, an efficient legal system and a responsive pro-active stable  government. Its outward-looking policy allows Singapore to maximize freedom in trade and fully utilize its natural resources. Besides supporting the domestic engines, the governments also plays a critical role in developing and intertwine with the regional and global trade as explained in the Triple C theory. Combined with other policies adopted by the government, the economic transformation of Singapore is successful, moving from the Turtle into the Horse economy stage. We can conclude that the governments’ political will and its role to implement measures conducive to economic growth is the critical factor in Singapore’s economic transformation. The leading role of the efficient government in securing high EGOIN ensures the success of the Triple C and S-Curve theories, and its causes of transformation are definitely multi-causal. Finally, to succeed into the future with globalisation and rapid changes in the world’s economy, Singapore needs to establish a new growth path that will be less vulnerable to global demand cycles. Hence the government must continue to upgrade its technology infrastructure, encourage entrepreneurship, and promote arts and music to transform Singapore into a cosmopolitan city-state attractive to both business and global talent. Reference Economic Development of Singapore (2009). Our History. Retrieved on Oct 9, 2010 from http://www. edb. gov. sg/edb/sg/en_uk/index/about_edb/our_history. html Goh Keng Swee (1995). Wealth of East Asian Nations. Federal Publications: Singapore. Hui Ying Sng (2010). Economic Growth and Transition Econometric Analysis of Lims S-curve hypothesis. World Scientific Publishing: Singapore. Lim Chong Yah (2006). Southeast Asia – The Long Road Ahead. World Scientific Publishing: Singapore. Linda Lim (1998). The Political Economy of a City-state – Government-made Singapore. Oxford University Press: Singapore. Ministry of Trade and Industry Singapore (2010). Growing Our Economy. Retrieved on Oct 9, 2010 from http://app. mti. gov. sg/default. asp? id=545 Peter Chen (1983). Singapore Development Policies and Trends. Oxford University Press: Singapore. Singapore Department of Statistics (2010). Statistics. Retrieved on Oct 3, 2010 from http://www. singstat. gov. sg/stats/latestdata. html Tan Khay Boon (2010). Political Economy of ASEAN – Study Guide. SIM University: Singapore Winston Koh (2006). The Economic Prospects of Singapore. Addison-Wesley: Singapore. Singapore Workforce Development Agency (2010). About Us. Retrieved on Oct 8, 2010 from http://app2. wda. gov. sg/web/Contents/Contents. aspx? ContId=8 Spring Singapore (2010). About Us. Retrieved on Oct 8, 2010 from http://www. spring. gov. sg/aboutus/pages/spring-singapore. aspx World Bank (2010). Gross National Income Per Capita 2009: Atlas Method and PPP, World Development Indicators database. Retrieved on Oct 3, 2010 from siteresources. worldbank. org/DATASTATISTICS/ /GNIPC. pdf World Economic Forum (2010). Global Competitiveness Report 2010-2011. Retrieved on Oct 3, 2010 from http://www. weforum. org/en/initiatives/gcp/Global%20Competitiveness%20Report/index. htm