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). For the reason that management involved with such variety of activities that basically would affect the proper function and the flow of the organisation; consequently, the standard of the management is the direct factor hindering the efficiencyRead MoreThe Term ‘Race’ Can Articulate Various Connotations And1257 Words   |  6 PagesThe term ‘race’ can articulate various connotations and ideas. However, the principal idea to keep in mind is that race is not a biological term and serves its only resolution in holding or mobilizing people socially. In a determination to understand the construction of race differences and relationships, I identify conclusions from readings from Pem Davidson Buck, John Taylor Gatto and Bill O’Reilly, scrutinize the Anglo-Conformity that different races go through in predominantly white culture vicinitiesRead MoreThe Or Interracial Marriages Occur When Two Individuals Of Different Races1439 Words   |  6 PagesIntermarriages or interracial marriages occur when two individuals of different races come together in matrimony. Approximately 400 years ago, North America’s first intermarriage was between a Powhatan Princess by the name of Pocahontas and English commoner John Rolfe. Their marriage was allowed due to the fact that the Jamestown higher-ups believed it would be good for them to have an Indian princess and any male offspring on their side. Unfortunately for the English, their plan did not work dueRead MoreThe Election Of 1860, By George Douglas, John Breckinridge, And John Bell1189 Words   |  5 Pages The Election of 1860 was held on November 6, 1860. The candidates were Abraham Lincoln, Stephen Douglas, John Breckinridge, and John Bell. The main issue in this election was slavery. The Election of 1860 was very import ant to American History. It would determine the future of slavery and everyone who was associated with it. The Union, as a whole, would be affected. Slavery divided the Nation. The South and the North viewed it in two very different ways. The South believed that slavery was a goodRead More Education and Awareness Will Promote Environmental Justice Essay example1498 Words   |  6 Pagesdissemination of information vital to the growth of the environmental justice movement. As the movement continues to grow and hopefully breach international boundaries, Dr. Bryant emphasizes the importance of promoting an understanding of the central issues of race, income, intent, pollution control versus prevention, positivism and participatory research, and top-down versus bottom-up perspectives of investigation. Overall, Dr. Bryants talk reveals the uniting theme of the conference - the need for public awarenessRead MoreMathematics and Astronomy791 Words   |  3 Pagesearth to the moon to be determined by centimeters. This was made possible by installing special reflectors on the moon, which made the laser light bounce off of the moon. Today, mathematics and astronomy have a huge part in our society. The Space Race incident between America and Russia took off in 1957 when their satellites were released beyond earths realm. In 1958, the National Aeronautics and Space Administration (NASA) was formed. Rockets became their main focus so that the universe may beRead MoreThe Roosevelt During The Great Depression2426 Words   |  10 Pagesstories were recorded, more than a half century after the death of slavery and the recognize significance of evidence (men like editor Benjamin Botkin). Men like W.E.B. DuBois turned the tide on the African American stereotypes at large. Under director John Avery Lomax, 2,300 interviews were edited and added to a 19 volume compilation. It, however, according to the author, is important to note that even these accounts can be biased. The geographic imbalance of the interviews towards the Deep South,Read MoreRacism: A Contagious Virus1130 Words   |  4 Pagesidea of race and superiority has caused major social and economic damage globally; with a fire still burning of hate and ignorance will we ever see a conclusion and closure of hate of our fellow man. In my response paper I will highlight readings that have expanded on the idea of race, racism, enslavement and endearment of the African people. Scientific Racism In this reading the uprising of racism is explained and focuses on how the white Europeans labeled those of the non-white race to be inferiorRead MoreLearning Styles and Learning Theories963 Words   |  4 PagesThere are various forms used to capture moments throughout the day the most common being diaries; â€Å"†¦ diaries were a useful tool for transformation reflection, providing them with opportunities to [†¦] express their learning style in a personal way†¦Ã¢â‚¬  (John Biggs and Catherine Tang 2011) As with most techniques, especially ones that require daily input like diary keeping; if you have a tendency to procrastinate it becomes difficult to maintain dedication and concentration. Overcoming an inability toRead MoreEssay on Booker T. Washington: Fighter for the Black Man1046 Words   |  5 Pagesthe white and black communities. Many of the countrys white leaders agreed with his principals, and so he had a great deal of support. Booker T. Washington was a great man. He put his own needs aside in order to build the reputation of an entire race. He didnt do it by accusing and putting blame on others, but instead through hard work. Booker T. Washington cleared the way for the black community to fully enter the American society. Washington was born into slavery on April 5, 1856, in Franklin

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. Ethnicity on the other hand refers to a shared cultural heritage, often deriving from a common ancestry andRead MoreSociology : Race And Ethnicity962 Words   |  4 PagesRace and ethnicity are commonly used as synonyms for each other as we encounter many diverse individuals throughout the world. Sociologist on the other hand, find very distinct understandings to how these terms, while different, hold correlation to one another. Max Weber, a founding figure of sociology, was one of the first to define race and ethnicity. He stood with the idea of essentialism which presumes that and individual s identity depends on fundamental and innate characteristics that areRead MoreSoc iology in Everyday Life Essay911 Words   |  4 PagesSociology in Every Life One central and important study of sociology is the study of everyday social life. Everyday life and sociology are definitely two distinct terms and situations, but they hold a close relationship. While sociology studies human interaction, everyday life consists of everyday human interaction. Everyday life is filled by human beings interacting with one another, institutions, ideas, and emotions. Sociology studies the interactions with all of these and shows how mere interactionRead More1.Ethnic Niche Are Creations Within Industries Or Occupations1362 Words   |  6 Pagesdivision (Race, Ethnicity, and the American Labor Market: What’s at Work?, p. 5). They are basically inclinations for certain types of workers. Ethnic niches can be good environments to have in the workforce if one’s personal ethnic or racial group is included. But, ethnic niches can bar certain groups from getting the jobs and limiting mobility within them. The job queue is an entity that is affected by economic change and restructuring while also being affected by discrimination (Race, Ethnicity, andRead MoreFinal Reflection for Sociology1239 Words   |  5 PagesFor this final reflection for Intro to Sociology, I will cover several topics that I learned throughout the course of this class. I will cover topics that I can relate to as well as those that I can’t. Part of the reason this class is so important for students to take is so that we can take the outlook of others and allow it to possibly change the views that we have on certain topics. Topics such as culture, race and ethnicity, gender stratification, and education are a part of our daily lifeRead MoreSociology Of Our Times By Diana Kendall And The Meaning Of Sociology By Charon And Vigilant1053 Words   |  5 PagesIn both of our textbooks Sociology in Our Times by Diana Kendall and The Meaning of Sociology by Charon and Vigilant, I really focused on the chapter about race and ethnicity. The readings had tw o sections related to the same discussion, one about race, wealth and ethnicity and another about how children who are born immigrants having to learn how to adapt to their â€Å"normal† identity in society. Other topics of prejudice, discrimination, and sociological perspectives were interesting and helped gainRead MoreHow Does The Judicial System Correlate One s Race?1375 Words   |  6 Pages holding arrest offense and also age and area steady. Prosecutors are about twice as liable to force required minimum sentence on black litigants as on white litigants. Therefore my research question is how does the judicial system correlate one’s race to their punishment ? In light of the observational information building up that African Americans will probably be captured for specific violations, and the relating probability that, once captured, they will probably be arraigned, Zane Umsted advocatesRead MoreEssay Ethnic Inequality in Health Care1723 Words   |  7 Pagesgive an overview of the existence of inequalities of health related to ethnicity, by providing some evidence that ethnic inequality in health is a reality in the society and include definitions of keywords. Secondly, I will bring forward arguments for and against on the major sociological explanations (racial discrimination, arefact, access to and quality of care) for the existence of health inequalities related to ethnicity. Thirdly, I would also like to take the knowledge learnt for this topicRead MoreSoc 100685 Words   |  3 PagesSociology 100 | Exploration of a Journal Article in Sociology | By: Kenneth Hinchey | Professor Hartnett 4/29/2012 | The article I have chosen is titled â€Å"Race, Ethnicity, and Law Enforcement. This article explores the relationship between race, criminality and law enforcement and highlights some of the issues surrounding the intersection of race and criminal behavior. After reading this article I found a few things interesting, such as when the author writes about class subordinationRead MoreIn what ways does ones race/ethnicity shape ones life-chances in contemporary society?1710 Words   |  7 Pagescome from. What race or ethnic group we belong to determines our life chances in contemporary society. Ethnicity is the cultural background of a group of people who share a belief in common ancestry. According to Max Weber, ethnic groups are formed by colonisation and immigration. Ethnicity is something we all have but in Australia and in many parts of the world, ethnicity is often applied on minority groups to highlight dominant groups of people on the bases of physical appearance, race, origins or

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. It is the image of Phan Phuc, a naked, nine-year- old, South Vietnamese girl, ta ken on June 8, 1972, by Nick Ut. The photograph shows the horrors of napalm,Read MoreAnalysis Of The Movie Miss Saigon Essay1310 Words   |  6 Pages17 year old war orphaned prostitute, Kim and a US GI Soldier, Chris who are torn apart during the fall of Saigon. Set in the Vietnam War these characters are constantly challenged while the city explodes with conflicting cultures matched with the horrors of war and the ever changing effects of the power of love. Chris meets Kim in the nightclub where she works and from that moment to two fall in love but however regardless of the fact that Chris helps to get a Kim a visa out of Vietnam when the USRead MoreBruce Weigl ´s Poems on Vietnam War874 Words   |  4 PagesTo this day the Vietnam War is still considered to be one of the most devastating wars in history and has been a topic of resentment to the American culture thirty-three years after its end. For the American public it’s marked as being the point in history where distrust in our government was at an all-time high, mainly because most of the war’s carnage was witnessed on television for the first time. For all the bloodshed American and Vietnamese soldiers suffered through, the war has left a perpetualRead MoreEssay about Apocalypse Now578 Words   |  3 Pages1970s in the middle of the Vietnam War. Coppula was rewarded for his hard work by winning the Academy Award for cinematography. The story is based on the novel Hearts of Darkness, by Joseph Conrad. The book and film depicts Capt. Willard in the middle of the Vietnam searching for Col. Kurtz, who has gone mad and started his own private war. Apocalypse Now uses its scenes to show three types of horror including psychological, gore, and surprise. Psychological horror plays with human rationalizationRead MoreWar And Trauma In Tim O’Brien’S â€Å"The Things They Carried†.1525 Words   |  7 PagesWar and Trauma in Tim O’Brien’s â€Å"The Things They Carried† Often in literature, we find ourselves reading stories with layers upon layers of meanings found in them. Tim O’Brien’s â€Å"The Things They Carried† is no exception to this idea. O’Brien tells his story in such a way that as we read the complex descriptions of what the characters are experiencing, the line between fiction and reality are often blurred. This helps further advance our understanding of the issue Tim O’Brien is trying to portrayRead MoreHeroism In Tim OBriens The Things They Carried1684 Words   |  7 Pagesthe war heroes in movies such as Saving Private Ryan and American Sniper. However, the glorified heroism that is depicted in these films is far from the reality that is war. A more realistic rendition of war is seen in Tim O’Brien’s short story, The Things They Carried. Throughout the story, O’Brien uses metafictional characters to portray the physical and emotional burdens carried by American soldiers who we re forced to conform to societal expectations upon being drafted for the Vietnam War. TheRead MorePolitical And Social Upheavals Caused By War1533 Words   |  7 Pagescaused by war. Some may have even experienced it first-hand. Throughout history war has had negative psychological implications on those effected. However, there is no greater negative impact of war than the psychological and emotional turmoil that it causes individual soldiers. To narrow down the scope of these psychological effects, I have chosen to focus on the U.S. military involvement in the Vietnam War during the period 1962 to 1973. 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

Muncha.Com free essay sample

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