Egypt : The People :: essays research papers

Egypt : The People Roughly 32,500,000 individuals live in Egypt. Worker ranchers called fellahin make up more than 60 percent of the populace. However, under 4 percent of Egypt's territory is appropriate for cultivating. Prior to the pioneers of the 1952 upset presented land change, under 2 percent of the landowners claimed half of the land accessible for cultivating. The greater part of the fellahin were occupants or possessed very minuscule homesteads. A man who possessed 3 to 5 sections of land was viewed as wealthy. Presently nobody is allowed to possess in excess of 50 sections of land, and the normal Egyptian ranch is for the most part a lot littler than that. Â Â Â Â Â An Egyptian rancher's principle devices are the digger, a basic furrow, and the sakia, or waterwheel. The fellah, his significant other, and their youngsters all work together in the fields. The inauspicious everyday practice of their lives is eased distinctly on a barely any events the gathering petition in the mosques on Fridays, strict dining experiences, and family occasions, for example, weddings or the circumcisions of little youngsters. Â Â Â Â Â A rancher's most important belonging is the water wild ox, dairy animals, or bull that encourages him with the substantial homestead work. The water wild ox or bull draws the furrow, turns the waterwheel, and pulls the nowraj. The nowraj is a wooden stage mounted on four or five iron circles. The honed edges of the circles squash the stalks of wheat with the goal that the grain can be isolated from the waste. The water bison or dairy animals likewise supplies the fellah's family with milk and with calves that can be sold. Regularly the fellah imparts his home to his creatures. This is unsanitary, however it is the rancher's favored method of ensuring them. The burglary of a creature could mean monetary calamity for the poor fellah. Â Â Â Â Â The fellah wears a free, long cotton robe called a gallabiyea, free cotton pants, and a fleece top, which he makes himself. For extraordinary occasions he makes a turban by collapsing a white scarf around the top. Level, yellow shoes complete the fellah's outfit. Â Â Â Â Â The fellah, the spouse of the fellah, wears dresses with long sleeves and trailing ruffles and a dark cloak, which she here and there utilizations to cover her face. On showcase days and other unique events the ladies wear hoops, accessories, wristbands, and anklets. These adornments are normally made of globules, silver, glass, copper, or gold. They make a wonderful melodic sound as the fellah strolls along the dusty paths of the town. Â Â Â Â Â Most of Egypt's fellahin live in the towns along the Nile. The towns perpetually look dim in light of the fact that the houses are whitewashed distinctly for significant occasions suck as weddings.

Periscope Inventors Sir Howard Grubb and Simon Lake

Periscope Inventors Sir Howard Grubb and Simon Lake A periscopeâ is an optical gadget for directing perceptions from a hid or ensured position. Basic periscopes comprise of reflecting mirrors and additionally crystals at furthest edges of a cylinder holder. The reflecting surfaces are corresponding to one another and at a 45â ° edge to the pivot of the cylinder. The Military This fundamental type of periscope, with the expansion of two straightforward focal points, filled for perception needs in the channels during World War I. Military work force likewise use periscopes in someâ gun turrets. Tanksâ use periscopes widely: They permit military work force to look at their circumstance without leaving the wellbeing of the tank. A significant turn of events, the Gundlach revolving periscope, joined a pivoting top, permitting a tank administrator to get a 360-degree field of view without moving his seat. This configuration, licensed by Rudolf Gundlachâ in 1936, first observed use in the Polish 7-TP light tank (created from 1935 to 1939).â Periscopes alsoâ enabled troopers to see over the highest points of channels, in this way maintaining a strategic distance from presentation to foe fire (particularly from snipers). During World War II, gunnery onlookers and officials utilized explicitly made periscope optics with various mountings. Progressively intricate periscopes, usingâ prismsâ and/or propelled fiber optics rather than mirrors, and giving amplification, work onâ submarinesâ and in different fields of science. The general structure of the traditional submarine periscope is exceptionally basic: two telescopes pointed into one another. In the event that the two telescopes have distinctive individual amplification, the contrast between them causes a general amplification or reduction.​ Sir Howard Grubbâ The Navy qualities the creation of the periscope (1902) to Simon Lake and the flawlessness of the periscope to Sir Howard Grubb. For all its innovations, USS Hollandâ had at any rate one significant imperfection; absence of vision when lowered. The submarine needed to suggest the surface so the team could watch out through windows in the conning tower. Introducing denied the Holland of one of the submarine’s most noteworthy points of interest †secrecy. Absence of vision, when lowered, was in the long run revised when Simon Lake utilized crystals and focal points to build up the omniscope, precursor of the periscope. Sir Howard Grubb, an architect of galactic instruments, built up the advanced periscope that was first utilized in Holland-planned British Royal Navy submarines. For over 50 years, the periscope was the submarine’s just visual guide until submerged TV was introduced on board the atomic controlled submarine USS Nautilus. Thomas Grubb (1800-1878) established a telescope-production firm in Dublin. Sir Howard Grubbs father was noted for concocting and developing hardware for printing. In the mid 1830s, he made an observatory for his own utilization outfitted with a 9-inch (23cm) telescope. Thomas Grubbs most youthful child Howard (1844-1931) joined the firm in 1865, under his hand the organization increased a notoriety for the top notch Grubb telescopes. During the First World War, request was on Grubbs processing plant to put forth gunsights and periscopes for the war attempt and it was during those years that Grubb consummated the periscopes structure.

Cymbalta Drug Warnings and Side Effects

Cymbalta Drug Warnings and Side Effects Bipolar Disorder Treatment Medications Print Cymbalta Drug Profile Bipolar Medications Library By Marcia Purse Marcia Purse is a mental health writer and bipolar disorder advocate who brings strong research skills and personal experiences to her writing. Learn about our editorial policy Marcia Purse Updated on September 09, 2016 More in Bipolar Disorder Treatment Medications Symptoms Diagnosis Cymbalta (duloxetine) is a serotonin norepinephrine reuptake inhibitor (SNRI) antidepressant used to treat major depression and the pain associated with diabetic peripheral neuropathy. According to the manufacturer, Eli Lilly, clinical studies showed that the maximum effective dosage of Cymbalta for treating depression was 60 mg per day; there was no evidence that doses greater than 60 mg/day confer any additional benefit. The same dosage was also significantly more effective than placebo in decreasing neuropathic pain. Lilly also noted that smoking reduced the bioavailability of Cymbalta by about one-third, but recommends against any dosage modification for smokers. Cymbalta Precautions and Warnings Cymbalta should not be used by nursing mothers.Cymbalta should not be taken along with MAOIs.Cymbalta should not be used by patients with uncontrolled narrow-angle glaucoma, and cautiously by those with controlled narrow-angle glaucoma.You should not take Cymbalta if you are taking Mellaril (thioridazine). You must wait five weeks after stopping one before taking the other to avoid very serious cardiac complications.Your doctor should know if you have liver or kidney problems before prescribing Cymbalta for you.If discontinuing Cymbalta, a gradual reduction in dose is recommended to minimize withdrawal effects.Avoid drinking alcohol while taking Cymbalta, as the combination may cause liver damage.Do not chew, crush or open the capsules. They have an enteric coating to keep them from dissolving too soon in your system. Cymbalta and Other Disorders At present, Cymbalta is not approved for treating bipolar depression, but is being prescribed to people with bipolar disorder as an off-label use; therefore, patients who have experienced mania should be monitored carefully when taking this medication. According to VeryWell Arthritis, Cymbalta seems to be effective in treating the symptoms associated with fibromyalgia in women, but not in men. Using this drug for fibromyalgia is another off-label use. From Crazymeds: It appears that the discontinuation syndrome for Cymbalta ... might be as harsh as that of Effexor ... So if you have to stop taking, be careful and do slowly.   Disclaimer: This profile is not intended to be all-inclusive or to replace information provided by your doctor or with the prescription from the manufacturer. References:Cymbalta Home Page - Eli Lilly

Why Renting a Flat in Germany Is Totally Common

Although Germany has got the most successful economy in Europe and is basically a wealthy country, it has also got one of the lowest homeownership rates on the continent and is also way behind the US. But why do Germans rent flats instead of buying them or even build or buy a house? Buying their own accommodation is the goal of many people and especially families all around the world. For Germans, it might seem that there are things way more important than being a homeowner. Not even 50 percent of the Germans are homeowners, whereas over 80 percent of the Spanish are, only the Swiss are even renting more than their northern neighbors. Lets try to track the reasons for this German attitude. Influence of World War II Like many things in Germany, the tracking of the attitude to rent reaches back to the Second World War. As the war ended and Germany signed the unconditional surrender, the whole country was rubble. Almost every bigger city was destroyed by the British and American Air Raids and even the smaller village had suffered from the war. Cities like Hamburg, Berlin or Cologne where nothing but a big pile of ashes. Many civilians became homeless because their houses were bombed or collapsed after the fights in their cities, over 20 percent of all housing in Germany was destroyed. That was why it was one of the first priorities of the new built West-German government in 1949 to prove every German a safe place to stay and live. Therefore, big housing programs were started to rebuild the country. Because the economy was also laying on the ground, there was no other opportunity than having the government put in charge of new housings. For the newborn Bundesrepublik, it was also very important to give the people a new home to face the opportunities communism promised just on the other side of the country in the Soviet zone. But there was, of course, another opportunity coming with a public housing program: Those Germans who hadnt been killed or captured during the war were mostly unemployed. Building new flats for over two million families could create jobs that were urgently needed. All this lead to success, the lack of housings could be reduced during the first years of new Germany. Renting Can Just Be a Good Deal in Germany This leads to the fact that Germans today just as their parents and grandparents have reasonable experiences with renting a flat, not only from a public housing company. In the major cities of Germany like Berlin or Hamburg, most of the flats available are in public hand or at least managed by a public housing company. But besides the big cities, Germany has also given the private investors the opportunity to own properties and rent them out. There are many restrictions and laws for the landlords and tenants they have to follow which proves that their flats are in a good condition. In other countries, rental flats have the stigma of being run down and mainly for poor people who cant afford to own an accommodation. In Germany, there are none of those stigmas. Renting seems just as good as buying - both with advantages and disadvantages. The Laws and Regulations Made for Renters Talking about the laws and regulations, Germany has got some specials that make a difference. For instance, there is the so-called Mietpreisbremse, which passed the Parliament. In areas with a strained housing market the landlord is only permitted to increase the rent up to ten percent above the local average. There are a lot of other laws and regulations which lead to the fact that the rents in Germany - compared to those of other developed countries - are affordable. On the other side, German banks have high preconditions for getting a mortgage or a loan to buy or build a house. You just wont get one if you dont have the right sureties. For long term, renting a flat in a city can therefore be a better opportunity. But there are of course some negative sides of this development. Like in most other western countries, the so called gentrification can also be found in Germanys major cities. The good balance of public housing and private investment seemed to tip over more and more. Private investors buy old houses in the cities, renovate them and sell or rent them out for high prices only wealthy persons can afford. This leads to the fact that normal people can no longer afford living inside the big cities and especially young people and students are stressed to find a proper and affordable housing. But thats another story because they couldnt afford buying a house either.

Decision Making Process And Companys Performance Aspect

Every modern company benefit from business intelligence. It has to be realized that almost every tool which is being used for supporting data spread across the company is simultaneously somehow connected with business intelligence solutions. Whilst business intelligence might be – as a whole – boiled down to supporting the process of transforming data into information and, then, information into knowledge usable for the company, in point of fact almost all tasks connected with data belong to BI branch. Of all business intelligence tools, dashboards are being paid most attention to, these days. Even though a few years ago they were reserved solely for managers of the largest companies, nowadays they re quite common. What has changed? What†¦show more content†¦What s more, the second part seems even more important, if not just crucial. Nevertheless, before thinking about positives, managers should eliminate negative trends. And that s what dashboards are perfect for. ï‚ · Correct negative trends. Once the negative trends are recognized, localized, and analyzed, comes the time for correcting them. Thank to modern dashboards, eliminating negative trends is facilitated due to improved abilities for modifying concrete factors on trend s route. ï‚ · Improve the efficiency of newly-made decisions. Even though improving the efficiency of deciding is the common goal for all business intelligence solutions, every tool treat the question in a different way. Dashboards, for instance, support decision making with better information, whilst â€Å"better† means more timely and more accurate. As a result, â€Å"better-informed† decisions are being made what influences on company s performance, obviously. ï‚ · Measure company s parameters. It never is easy to measure company s real performance or efficiency. Even if something looks good from the outside, in point of fact it might be many times worse, but the external symptoms still aren t visible. Deep analysis let managers react on company s inefficiencies before it s too late to change anything significantly. It s indispensable for minimizing presumptive losses and multiply demanded incomes. ï‚ · Improve performed

Analysis of Financial Performance of Pz Cussons 2012 Free Essays

ANALYSIS OF THE FINANCIAL PERFORMANCE OF PZ CUSSONS PLC AND RESEARCH MATRIX Background Information of the Company PZ Cussons Plc. is a UK based consumer products group. The principal activities of the group are the manufacture and distribution of soaps, detergents, toiletries, beauty products, pharmaceuticals, edible oils, fats, electrical goods and nutritional products. We will write a custom essay sample on Analysis of Financial Performance of Pz Cussons 2012 or any similar topic only for you Order Now The company’s products can therefore be categorised into personal care, home care, baby care, beauty products, food and nutrition and electrical goods. They have supply chain and distribution networks in Africa, Asia and Europe. Their mission is to enhance the lives of customers with quality, value and innovation. Their vision is to be a growing and dynamic company who are passionate about their leading brands and drive innovation in everything they do. The company has four major strategies which are operating in selected categories where their brands have a strategic advantage and offering growth opportunities which are profitable; operating in selected geographies either through their own infrastructure or through partnership; operating a flexible and evolving supply chain designed to service their categories and working with people who share their unique CAN DO values. The company’s major competitors are Mcbride Plc. , Kao UK Ltd, Creightons Plc. , and Swallowfield Plc. Marketline, 2012). Interpretation of Financial Statements Using Ratio Analysis Profitability Ratios These ratios measure the ability of a company to generate earnings in relation to its sales, assets and equity (Ready Ratios, 2012). 2012 2011 Return on Capital Employed 49. 6 = 8. 16% 107. 3 =16. 43% (PBIT/Total Assets-Current liabilities) 930. 5 – 322. 4 938. 5 – 285. 6 Return on Equity (ROE) 34. 4 = 7. 1% 70. 4 = 14. 85% (Profit after tax/Sha reholders’ funds) 458. 3 474 Operating Profit Margin 49. 6 = 5. 77% 107. 3 = 13. 1% (PBIT/Sales) 858. 9 820. 7 Gross Profit Margin 309. 2 = 40% 325. 2 = 39. 6% (Gross Profit/Sales) 858. 820. 7 Overheads/Sales 134 + 125. 4 = 30% 135 + 83. 3 = 26. 6% 858. 9 820. 7 Sales Growth 858. 9- 820. 7 = 4. 65% (Yr 2 Sales- Yr 1 Sales/ Yr 1 Sales) 820. 7 The ROE is low 7. 51%, down from 14. 85% in 2011 which shows that a much lower profit has been made on the shareholders’ investments. This is largely due to the decrease in profits for the year. The reduction in profit has also impacted on the ROCE which is down to 8. 16% from 16. 43% in 2011. There is a marginal increase in the gross margin. This is as a result of an increase in the cost of sales which could have been affected by the rise in costs of raw materials as pointed out in the Chairman’s statement and offset by a small 4. 65% increase in sales. The operating profit to sales has reduced drastically, as a result of a high increase in overheads and the revenue increase. The increase in overheads was due to exceptional items related to administrative expenses. From the annual report, it can be seen that there was a supply chain optimisation project initiated to tackle rising material costs, wage inflation in emerging markets and to reduce overheads of manufacturing activities. This project is an exceptional item included in the operating profit. Other exceptional items included are the acquisition of Fudge by the company and an impairment of the Australian home care brand due to worsening trade conditions. It could be said these are one-off items which impacted on overheads and resulted in a reduced operating profit for the year but the group will need to improve its margins and control overheads to enhance its profitability. Liquidity Ratios These ratios measure the ability of a company to meet its short term obligations as they fall due (Ready Ratios, 2012). 2012 2011 Current Ratio 393. 3 = 1. 22 417. 4 = 1. 46 (Current Assets/Current Liabilities) 322. 285. 6 Current Ratio excluding current debt 393. 3 = 1. 70 417. 4 = 1. 65 322. 4 – 90. 8 285. 6- 32. 5 Acid Test/ Quick Ratio 393. 3 – 173. 6 = 0. 68 417. 4 – 151. 7 = 0. 93 (CA – Inventories/ CL) 322. 4 285. 6 Acid test excluding current debt 393. 3 – 173. 6 = 0. 95 417. 4 – 151. = 1. 05 322. 4 – 90. 8 285. 6 – 32. 5 The current ratio has fallen from 1. 46 to 1. 22 likewise the acid test ratio which has fallen from 0. 93 to 0. 68. There is an increased inventory level which may justify the statement in the financial review that â€Å"there were high working capital levels especially in Nigeria†. Another aspect to consider is the cash balance which was significantly lower by 34. 6 % to the previous year. It is useful to consider the business context. From the same eview, it could be noted that some capital expenditure took place which affected the cash level, the major one being the acquisition of Fudge which was mentioned above and an investment in a joint venture. Another key cash outlay was their contribution to the closed UK salary scheme during the de-risking exercise. The ratios are also impacted by the inclusion of borrowings in current liabilities which means the debt is repayable in the current year. If the ratios are recalculated by excluding the current debt, the current ratio would be more acceptable 1. 70, a marginal increase from 2011. The acid test ratio excluding the borrowings is 0. 95, a marginal decrease from 1. 05. This is because for the acid test, current liabilities (excluding debt) have increased more than current assets (excluding inventory). Given the explanations stated, these ratios are probably good results but a trend analysis may shed more light on the ratios. Activity/ Efficiency Ratios These ratios analyse how well the company’s assets and liabilities are utilised (Collier, 2012). 2012 2011 Debtors Collection Period 114. = 49 days 122. 5 = 54 days (Trade Receivables/Sales) (858. 9/365) (820. 7/365) Payment Period 104 = 69 days 117. 8 = 87 days (Trade Payables/Cost of Sales) (549. 7/365) (495. 5/365) Asset Turnover 858. 9 = 92. 3 % 820. 7 = 87. 4% (Sales/Total Assets) 930. 5 938. 5 Inventory Turnover 549. 7 = 3. 16 x 495. 5 = 3. 26 x (Cost of Sales/Inventories) 173. 6 151. 7 365/3. 16 = 116 days 365/3. 26 = 112 days It may appear that the company is doing a good job at managing its receivables and payables with a decrease in both the collection and payment periods but knowledge of the credit limit and terms might have helped in analysing the situation as well as comparison with the industry average. Asset turnover has risen from 87. 4% to 92. 3% indicating that the company has been able to generate more sales with their asset base. This is as a result of an increase in sales revenue and a lower level of current assets, especially the decrease in cash level. Inventory turnover has declined from 112 days of inventory holding to 116 days. Both ratios are quite high which implies that inventory is been kept in the stores for a long time between its purchase and its sale. The company would need to be able to manage its inventories more efficiently. Gearing Ratios It measures the level of debt/borrowings in relation to shareholders’ equity (Collier, 2012). 2012 2011 Gearing 0 = 0 15 = 3% (Long term debt/equity + debt) 458. 3 + 0 474 + 15 Gearing (including current debt) 0 + 90. 8 = 16. 54% 15 + 32. 5 = 9. 87% 458. 3 + 0 + 90. 474 + 15 + 32. 5 Interest Cover 49. 6 = 13. 78 x 107. 3 = 41. 26 x (PBIT/Interest Payable) 3. 6 2. 6 The gearing is 0 for 2012 indicating that the debt is repayable within the current year. By including the current debt, the gearing ratio shows an increase from 9. 87% in 2011 to 16. 54% in 2012. This is a more realistic debt level as the Statement of Cash Flows in the annual report reveals a ? 9. 4m borrowing in 2012. The interest cover has declined from 41. 26 times to 13. 78 in 2012. This is due to the decrease in operating profits but nevertheless the interest cover is still healthy. Shareholder Return Ratios These ratios measure the return to shareholders on their investment in the business (C ollier, 2012). 2012 2011 Dividend per share (DPS) 6. 717p 6. 06p Market value per Share ? 3. 23 ? 3. 4 (Both disclosed in the annual report) Dividend payout ratio 28. 8 = 83. 72% 26 = 36. 93% (Dividends paid/Profit after tax) 34. 4 70. 4 Dividend yield ? 0. 06717 = 2. 08% ? 0. 0606 = 1. 66% (DPS/Market value per share) ? 3. 23 ? 3. 64 Earnings per share (EPS) (Disclosed in income statement) 8. 03p 16. 48p Price/earnings ratio ? 3. 23 = 40. 22 x ? 3. 64 = 22. 09 x (Market value per share/EPS) ? 0. 0803 ? 0. 1648 The earnings per share have greatly reduced from 16. 48 to 8. 03 due to the decrease in profits, as there has been no change in shareholder capital. The dividend paid has increased slightly, despite the fact that profits were low and this consumed a high portion of the after-tax profits as shown by the dividend payout ratio. This would suggest the company has a high shareholder value. The dividend yield is an effective interest rate which fluctuates in relation to the share price. The yield has increased slightly due to the marginal increase in dividends paid and the reduction in the market value of the shares. The price/earnings ratio has seen a dramatic increase from 22. 09 to 40. 22 which is largely due to the decrease in the EPS. It however reflects that investors may have a high expectation for future growth. Ratio analysis is more useful when the ratios are interpreted as a trend over time or by comparison to industry averages, to competitor ratios or to predetermined targets. As such, two years is too short to draw meaningful conclusions about the performance of the group (Collier, 2012). Below is a five year summary from which the trend can be understood more clearly. PZ Cussons Five-Year Summary of Performance |In ? m |2012 |2011 |2010 |2009 |2008 | |Sales Revenue |858. 9 |820. 7 |771. 6 |838. 1 |660. 9 | |Operating Profit |49. 6 |107. |101. 4 |86. 2 |76. 4 | |Operating Margin |5. 77% |13. 1% |13. 14% |10. 28% |11. 56% | |Sales growth (year on year) |4. 65% |6. 36% |-7. 93% |26. 8% |- | |Current Ratio |1. 22 |1. 46 |1. 84 |1. 94 |2. 25 | |Gearing |0 |3% |6. 19% |10. 3% |14. 66% | |Earnings per share |8. 03p |16. 48p |14. 89p |11. 64p |11. 04p | |Dividends per share |6. 717p |6. 61p |5. 90p |5. 27p |4. 70p | Note: The EPS and DPS were disclosed in the financial statement. Whilst the operating margin and sales growth are based on the information in the table which were also gotten from the company’s financials, the calculation of current and gearin g ratios are below: 010 2009 2008 Current ratio 403. 7/219. 1 354. 9/182. 6 327. 4/145. 4 Gearing 30/(458. 8 + 30) 44. 9/(389. 9+ 44. 9) 59. 9/(348. 7 + 59. 9) The figures show an increase in sales over the years with a sharp decrease from year 2009 to 2010, though a good operating margin was generated. This could imply that a low cost base was being maintained. There has been a steady improvement in profits with a substantial reduction in 2012 though there was a lower margin in 2009 which would suggest that profits as a return on sales was quite low. The EPS has increased year on year with a drastic decrease in 2012 due to lower profits. The DPS has increased marginally year on year which reflects a high shareholder value. The current ratio has declined over the years. It could be that there have been high inventory levels. It is vital to note that a working capital ratio that is too high may imply that the company is not utilizing its assets effectively as could have been the case in 2008. The company should seek to manage its working capital more efficiently. The gearing ratio has been on the decrease to a point of no long term debt in 2012. This may appear to be a good thing but it is worth noting that long term borrowings are needed to fund current assets. Research Matrix The matrix below shows a summary of the journal articles read in relation to this work. It identifies some themes found in the literature. The themes are ranked on a scale of importance with 1 being less important and 5 being extremely important to the analysis of my work. Authors of Journal Articles |Scale of Importance | | |1 |2 |3 |4 |5 | |Roman (2011) ; Sundkvist, Hedman| | |Profitability | | | |and Almstrom (2012) | | | | | | |Muradoglu, Bakke and Kvernes | | | |Gearing | | |(2005) | | | | | | |Cette, Durant and Vilette (2011)| | | | |Profitability : ROCE | |Koonce and Lipe (2010) | | | |Earnings | | |Bierman and Hass (2009) | |Earnings Growth | | | | |Banos-Caballero, Garcia-Teruel | | |Worki ng Capital | | | |and Martinez-Solano (2012) | | | | | | |De Wet and Du Toit (2007) | | | | |Profitability : ROE | |Lifland (2011) | | | |Working Capital | | |Dossi and Patelli (2010) |Non-financial | | | | | | |Measures | | | | | Explanation and Analysis of Research Matrix According to Sundkvist, Hedman and Almstrom (2012), the profitability of a company is driven by controllable factors which are the internal resources of the firm such as raw materials and uncontrollable factors such as government regulations. One way of increasing profitability is to reduce costs. In doing this, the costs have to be broken down and cost drivers identified (Roman, 2011; Sundkvist, Hedman and Almstrom, 2012). This theme is important as cost reduction is a crucial way to maintain profitability. In the case of PZ Cussons, the supply chain optimisation project was initialised to cut down on manufacturing overheads. Muradoglu, Bakke and Kvernes (2005), argue that gearing ratio is vital in apprasing bankruptcy risk and investors like a low gearing ratio as there is a lower risk that they lose money on their investments. This theme is very important as a very high gearing increases the financial risk of a company. Cette, Durant and Villetelle (2011) stress the limitation of ROCE in that when a firm’s future outlook is good and this in turns leads to an increase in assets and there is no change in profit, then the ratio goes down implying the firm is less profitable irrespective of better prospects. This is extremely important as it highlights issues that should be taken into account when interpreting this ratio. Koonce and Lipe (2010) argue that the earnings trend of a company affects the investors’ acumen about the future prospects of that company as such a positive earnings trend enhances the price-earnings ratio. This theme is very important as it helps in our understanding of the price-earnings ratio. According to Bierman and Hass (2009), EPS growth can be ascertained by the use of share/stock repurchase and the variations in the rates used in profit retention. He argues for the use of earnings growth models. This theme is of little important to my analysis as there was no share repurchase in the current year of PZ Cussons and growth models were not used in my work. Based on the research carried out by Banos-Caballero, Garcia-Teruel and Martinez-Solano (2012), they claim that a high investment in working capital has the ability to improve the performance of a firm in profit-terms up to an optimal point at which higher working capital levels would have a negative effect on performance and this point is reached when the cost of holding working capital exceed the benefits. This theme is important as it seeks to explain working capital management. De Wet and Du Toit (2007) emphasise the pitfalls of return on equity measure. As such the earnings figure can be subject to manipulation legally due to changes in accounting policy. This is extremely important as it cautions us in our interpretation of the ROE. Lifland (2011) argues that effective working capital management is characterised by an increase in asset turnover and a decrease in receivables and inventories. He also highlights the fact that companies may have to seek external finance to meet working capital requirements. This is very important as it seeks to give insight on the interpretation of working capital ratios In determining financial performance, it is also useful to consider non-financial measures such as employee and customer satisfaction as well as measuring business processes. Though these are supplementary measures, they cannot be substituted for financial measures (Dossi and Patelli, 2010). It is good to draw attention to this but it is of less importance to my work as I only consider the financial ratios. It is crucial to bear in mind that there are limitations inherent in the use of ratio analysis, some of which were pointed above. Another factor is that they are based on historical records. The values could be affected by inflation so it is useful to modify the profits to reflect holding gains and losses which result from variation in the value of assets and liabilities (Cette, Durant and Villetelle, 2011). Despite all this, ratios remain a significant tool in analysing financial statements (Collier, 2012). Based on my analysis, PZ Cussons seems to performing quite well; the business environment and the challenges in the different divisions might account for the lower performance this year. However, it is vital to note that this analysis was based on annual reports which are produced in part for public relations. As such companies seek to promote their interests therein. To fully understand the company performance, an evaluation of the industry information and competitor performance would be required. References: Banos-Caballero, S. , Garcia-Teruel, P. and Martinez-Solano, P. (2012) â€Å"How does working capital management affect the profitability of Spanish SMEs? † Small Business Economics, vol. 39, no. 2, pp. 517-529. Bierman Jr , Harold and Hass, J. E. (2009) â€Å"Explaining Earnings Per Share Growth†, Journal of Portfolio Management, vol. 35, no. 4, pp. 166-169. Cette, G. , Durant, D. and Villetelle, J. (2011) â€Å"Asset Price Changes and Macroeconomic Measurement of Profitability†, Review of Income Wealth, vol. 57, no. 2, pp. 364-378. Collier, P. M. (2012) Accounting for Managers Interpreting Accounting Information for Decision Making 4th edn. Sussex: John Wiley Sons. De Wet, J. H. V. H. and Du Toit, E. (2007) â€Å"Return on equity: A popular, but flawed measure of corporate financial performance†, South African Journal of Business Management, vol. 38, no. 1, pp. 59-69. Dossi, A. and Patelli, L. 2010) â€Å"You Learn From What You Measure: Financial and Non-financial Performance Measures in Multinational Companies†, Long range planning, vol. 43, no. 4, pp. 498-526. Koonce, L. and Lipe, M. G. (2010) â€Å"Earnings Trend and Performance Relative to Benchmarks: How Consistency Influences Their Jo int Use†, Journal of Accounting Research, vol. 48, no. 4, pp. 859-884. Lifland, S. A. (2011) â€Å"The Corporate Soap-Opera â€Å"As the Cash Turns†: Management of Working Capital and Potential External Financing Needs†, Review of Business, vol. 32, no. 1, pp. 35-46. Marketline (2012) ‘Company Profile PZ Cussons Plc’. Marketline Report [Online]. Available at www. marketline. com (Accessed: 7 November 2012). Muradoglu, G. , Bakke, M. nd Kvernes, G. L. (2005) â€Å"An investment strategy based on gearing ratio†, Applied Economics Letters, vol. 12, no. 13, pp. 801-804. PZ Cussons (2012) Annual Reports and Accounts. Available at http://www. pzcussons. com/pzc/ir/reports (Accessed: 6 November 2012). Ready Ratios (2012) Reference. Available at http://www. readyratios. com/reference (Accessed : 5 December 2012). Roman, F. J. (2011) A Case Study on Cost Estimation and Profitability Analysis at Continental Airlines, American Accounting Association. Sun dkvist, R. , Hedman, R. and Almstrom, P. (2012) â€Å"A model for linking shop floor improvements to manufacturing cost and profitability†, International How to cite Analysis of Financial Performance of Pz Cussons 2012, Essay examples

Representation In Tv Essays - Advertising, Communication Design

Representation In Tv Youth in Television have been portrayed in many different lights, anywhere from the criminal to the young at heart. With their resistance to the dominant culture, many studies have been done concerning the meaning of the political challenges to the social formation involving investigating cultural objects and media artifacts. Historically young people have fallen into distinct but dependent categories: youth-as-fun and youth-as-trouble. One might ask why any of this is pertinent to the study of television. However in the 1950's consumer boom, youth-as-fun became a major advertising strategy. Once advertisers identified teenagers as a valuable consumer, more and more positive images of youth became evident on TV. Photography of youth has been historically produced out of ideological interests, constructed by new markets in an attempt to gain financial resources young people had gained access to. Even still today it is amazing to view how television views and portrays youth for the ben efit of making a sale. Youth-as-trouble have been seen in most aspects of the factual media such as the nightly news. These shows have the major impact of building images, which in turn are taken as examples of how young working- class people generally behave. This leads to an ideological regime of images, which serve to naturalize the media construction of youth-as-trouble (51). Images of youth-as-trouble are not only limited to news media, but can be seen in soap operas. British soap operas serve as a forum for raising important issues about social problems featuring teenagers with common problems. As keepers of normalcy and common sense, these programs serve ideological interests by bringing forms of power, i.e. the adult, to support the interests of the teenager's bodies to be against teenage sex or acting out of control. By bringing power on the problem situations, adults on the programs are able to control the dominant ideas of the ruling class by controlling teenager's actions and thoughts into acti ng the right way. Deviant youth are represented as answerable to institutionally sanctioned ideas, which fit the ideas of the nuclear family. Youth-as-fun are most likely to be found in advertising. Knowing that young people are most adept at reading complex visual signs, advertising aimed at young people is also the most textually sophisticated. Success in leisure circles is contingent upon the spending of teenagers, therefor the advert attempts to transcend the difference of class, race or gender in order to make its appeal to the homogeneous category of youth. In masking these categories the advert is able to play on the most important myth within capitalism, that any individual can achieve prosperity and success with hard work, and the right attitude to financial investment (53). There is also another category that many advertisers use, combining the fun and troublesome aspects, creating youth-as-trouble-as-fun. A good deal of fashion advertising is aimed at this category to attract the average teenager that has the tendencies to act out at times. This conventional representation of patriarchal, heterosexual masculinity that is portrayed in advertising is evident in television and film. Famous Hollywood heroes and action stars have had roles that meant defending society against its undesirable elements. These images aimed at youth may seem new and imaginatively presented; but are actually predicated on very conventional and conservative ideas about men and women. After reading about the representation of youth, I decided to put it my own test. While baby-sitting the other night, I watched the children become enthralled in the commercials, conclusive that they must have these products in order to be popular and to fit in. By presenting commercials and teenagers in a positive light, or at least in a way that teenagers and youth relate to, advertisers are able to pass along the dominant ideas of the upper class (hegemony) while at the same time making an extra dollar. This hegemonic approach accounts for why representations of youth groups appear as they are, by linking the representations back to the social structure, which frames and produces them. Text Used: Taylor, Lisa and Willis, Andrew. Media Studies: Texts, Institutions and Audiences. Blackwell Publishers Ltd. Massachusetts, 1999. Pg. 48-56. Scarlet Futch 9-27-00 Response #1 to reading Ch. 3, Representation Youth in Television have been portrayed in many different lights, anywhere from the criminal to the

rubbermaid essays

rubbermaid essays Rubbermaid's earliest seeds took root in an old piano factory in Ohio and at the kitchen table in New England. On April 30, 1920 nine individuals rented a building in Wooster, Ohio, known as the 'Piano Factory.' Their product? Sunshine Brand Toy Balloons. They called their venture The Wooster Rubber Company. In 1927, the company was bought as an investment by Horatio B. Ebert and Errett M. Grable, both of whom were executives of the Wear-Ever Division of the Aluminum Company of America. Ebert and Grable retained the services of Clyde C. Gault, one of the original founders. Meanwhile, James R. Caldwell, a rubber chemist, an analyst, and vice president of the Seamless Rubber Company in New Haven, Connecticut, had become fascinated with novel dyes that could transform plain rubber into dazzling colors. Caldwell and his wife would sit at their kitchen table dreaming up functional kitchen and bath objects in bright hues. In 1933, a patent was issued for their first effort, a dustpan. Caldwell joined the Wooster Rubber Company and soon toy balloons and novelties were replaced by new rubber housewares products. In those early days, there were 16 full-time employees. When the meager 10- foot-by-16-foot shipping dock was filled with cartons for delivery, it was considered a pretty good day at the factory. In 1935, net sales were $79,858. By 1938, net sales had reached $204,000. Within 10 years, the product innovation for which Rubbermaid is renowned was clearly evident. In 1955, Rubbermaid's annual report listed, among other products, pet feeding dishes, plate storage racks, kneeling pads, mats for various uses throughout the home (as door, sink, drain board, bath, and shower mats), coasters, soap dishes, and even cleaning solutions for rubber. Under Caldwell's leadership as president and general manager until 1958, Rubbermaid's most fundamental and enduring corporate credo was developed: 'A firm insistence on produc ...

Alloy Definition and Examples in Chemistry

Alloy Definition and Examples in Chemistry An alloy is a substance made by melting two or more elements together, at least one of them metal. An alloy crystallizes upon cooling into a solid solution, mixture, or intermetallic compound. The components of alloys cannot be separated using a physical means. An alloy is homogeneous and retains the properties of a metal, even though it may include metalloids or nonmetals in its composition. Alternate Spellings: alloys, alloyed Alloy Examples Examples of alloys include stainless steel, brass, bronze, white gold, 14k gold, and  sterling silver. Although exceptions exist, most alloys are named for their primary or base metal, with an indication of other elements in order of mass percent. Uses of Alloys Over 90% of metal used is in the form of alloys. Alloys are used because their chemical and physical properties are superior for an application than that of the pure element components. Typical improvements include corrosion resistance, improved wear, special electrical or magnetic properties, and heat resistance. Other times, alloys are used because they retain the key properties of component metals, yet are less expensive. Example Alloys Steel: the name given to an alloy of iron with carbon, usually with other elements, such as nickel and cobalt. The other elements add a desired quality to the steel, such as hardness or tensile strength.Stainless Steel: another iron alloy, which typically contains chromium, nickel, and other elements to resist rust or corrosion.18k Gold: this is 75% gold. The other elements typically include copper, nickel, or zinc. This alloy retains the color and luster of pure gold, yet is harder and stronger, making it better suited for jewelry.Pewter: an alloy of tin, with other elements such as copper, lead, or antimony. The alloy is malleable, yet stronger than pure tin, plus it resists the phase change of tin that can make it crumble at low temperatures.Brass: a mixture of copper with zinc and sometimes other elements. Brass is hard and durable, making it suitable for plumbing fixtures and machined parts.Sterling Silver: is 92.5% silver with copper and other metals. Alloying silver makes it h arder and more durable, although the copper tends to lead to greenish-black oxidation (tarnish). Electrum: Some alloys, like electrum, occur naturally. This alloy of silver and gold was highly prized by ancient man.Meteoritic Iron: While meteorites may consist of any number of materials, some are natural alloys of iron and nickel, with extraterrestrial origins. These alloys were used by ancient cultures to make weapons and tools.Amalgams: These are mercury alloys. The mercury makes the alloy much like a paste. Amalgams may be used in  dental fillings, with the mercury intact, although another use is to spread the amalgam and then heat it to vaporize the mercury, leaving a coating of another metal.

Usage of Drugs at Music Festivals Research Paper

Usage of Drugs at Music Festivals - Research Paper Example Most of the people on the occasion take drugs just in the name of having fun while others have just the curiosity of knowing how it feels taking the drug. Not being considerate of the adverse effects of the drugs, some people consume alcohol among other drugs abused, in the name of getting high. They believe that they need to be off their chops to enjoy the loud music and lights. Beginners suffer more compared to frequent users of the drug (Platt 1).  In some occasions, the carries away some individuals, who becomes hyped and pushes limits too far by doing things that they would not do in ordinary situations. At such point, they take drugs and do crazy stuff that they come to regret afterward when nursing their hangovers. Some go back to their homes injured only to realize when sober. Games such as â€Å"truth or dare† and â€Å"dirty deeds† played by youths during the event also contribute significantly in such occasions. Sometimes they dared one to drink or take a d rug that they do not know. They do so in the name of the game. Drinking competitions also leave others taking too much of alcohol, chewing blackout among other adverse effects (Lim et al. 440). One of the most commonly abused drugs during Electron Music Festival in the US is Molly, the recent name for ecstasy. They take the drug for the stimulation by light, sound, and touch sensation. To them, it gives a good feeling. They forget its side effects, which include paranoia, depression, nausea, and dehydration. Adversity of the effects of the drug occurs with an increase in temperature. Taking the drug in this condition increases the effects of hyperthermia. In some cases, it causes death from dehydration or heart failure (Hesse and Tutenges 88).

Lack of financial resources- discourages investment Assignment

Lack of financial resources- discourages investment - Assignment Example resources should be properly managed through establishment of proper budget to ensure cost has been minimized and at the same time maximizing benefits out of financial resources invested. There are numerous ways in which lack of adequate financial resources discourages investments. For example, lack of adequate financial resources as a result of higher rates taxation changed by Indonesian Tax Authority limits the amount of financial resources for investment. In addition, economic factors such as higher inflation rates that hit Indonesia 2007 reduced the amount of financial resources significantly. This further discouraged investments plans in Indonesia (Sauvant, Wolfgang, Maschek and McAllister, p.10). Lack of proper saving plan among investors in Indonesia is a major factor that discouraging investments. Therefore, investor should carefully determine whether the available financials resource will be adequate to carry out a particular investment project (Christina, paras, 3-5). This may be done by carrying out a comprehensive investment appraisal. Indonesian government should carryout out amendments to ensure its financial systems provide all forms of financial resources that are necessary for investment. For example the government should promote all forms of debt or equity financing methods to ensure that all investors in Indonesia have access to all forms of financial resources (Christina, paras, 3-5). Sauvant.K.P, Wolfgang A. Maschek.W.A and McAllister.G.Foreign direct investment by emerging Market multinational enterprises, The impact of the financial crisis and Recession and challenges ahead:7.12.2009.Web.9.3.2014

The Importance of the Cloak in Homer’s Odyssey :: Homer, Odyssey Essays

The Importance of the Cloak in Homer’s Odyssey      Ã‚   Near the end of the fourteenth chapter of Homer's Odyssey, the main character, Odysseus, announces that he is about to tell a story to his swineherd, Eumaeus, and several other workers inside the swineherd's hut. Odysseus warns the men that his story is the result of his drinking with them, but the story is actually a test of his swineherd's character. Disguised as Castor's son, a rag-wearing beggar with no possessions, he tells the men a story about fighting alongside the man who, secretly, he really is. Homer emphasizes Odysseus' great mind when he acts the part to its entirety even when his own story is twisted to today's reader. In the tale, his fellow soldier at Troy, Odysseus, is able to manipulate another soldier into taking a request for reinforcements so that Castor's son can sleep under the departing messenger's cloak.    Both in his story and within the hut, Odysseus is the manipulative character, and the ultimate outcome of both is the temporary use of a cloak for Castor's son to sleep under. Knowing the limited resources of the swineherd and his own abundance of cloaks at home, Odysseus frames his story so that the swineherd would consider lending his guest the use of a cloak rather than telling a tale with a moral of being generous and gift giving. The swineherd is able to show his guest hospitality yet face no loss by the lending of a cloak. This insight shows the maturity and development that Odysseus has experienced along his journey home; a younger and less experienced Odysseus may not have considered the importance of the difference between lending and giving when the host is a man he employs.    For twenty years Odysseus was away from his home of Ithaca, and in this time he faced several events that would change the way he would see the world. Witnessing such events as the breaking open of six of his innocent soldiers' skulls by a Cyclops (Homer 132) and the feeding of another six of his men to a six-headed beast (Homer 186) played a large part of the changed man that returned. Though a changed Odysseus awoke on the beach of Ithaca, he would have to force all the lessons of two decades out of his personality and into the efforts to regain his life; he would need to use the strength he gained from his experiences to conceal his identity behind a mask of weakness.

Pop Culture in Todays Society Team Assigment

Popular culture changes frequently and occurs exceptionally in place and time. It forms currents and represents a complex of mutually interdependent perspectives and values that influence society and its institutions in a various amount of ways. Today, we rarely see the representation of television shows that embrace settings that set positive images for our children today, it is more towards exploiting the fact that times have changed and so should we as people. There was a time when families gathered together and listened to programs being broadcast over the radio. During this time, that was considered a special bonding family moment. Further more families at one time would allow their children to watch programs that created positive messages between each other. The physical connections among families have altogether been replaced by modern technology such as televisions, cell phones, and computers. The intimate relationship between Americans and their families has changed so that people do not indulge in an open conversation with each other; it has certainly been replaced by modern amenities. There was a time when programs such as The Brady Bunch, The Cosby Show, and The Partridge Family were number one hits with families of that particular generation, now those choices have been replaced by reality TV, what is now considered family shows, such as American Idol, Big Brother, and Survivor. Among other television shows, Bart Simpson of the Simpson’s and Stewie Griffin of Family Guy, which should be targeted as an adult program, surprisingly are viewed by American children. Most of what is known about the world comes from figurative rather than experienced reality, particularly in advanced media-saturated societies like the United States. Youth today tend to be more influenced by pop culture and are more likely to take information from media sources into their worldview than older people. Children and adolescents largely rely on popular culture rather than draw from symbolic reality to form their cognitive scripts.

Stress is an everyday reality in the aviation industry,...

Stress is an everyday reality in the aviation industry, especially to pilots. Pilots face different kinds of stress on the job. Overload and underload on pilots is common and has always been overlooked. As a result, poses a threat to aviation safety. The society should pay a considerable attention to this issue. This essay will discuss the effect of stress on pilot performance and ways to relief stress. It begins with definitions of stress, then it will mention the causes of stress. The essay then explores on the relevance to aviation industry. Finally, the essay will give suggestions on how to cope with stress. As a future commercial airline pilot, this topic has great relevance as stress could not be avoided in the aviation industry. It†¦show more content†¦Internal sources of stress may come from an individuals perception to an event, and the individuals personality and fear. External sources of stress in the cockpit may include, turbulence, dehydration, eye strain and la ck of oxygen. Walonick(1993) has mentioned Abrechts work(1979), which argues that nearly all stressors are emotionally induced. Emotionally induced stress usually arise from imagination. In addition, emotionally induced stress can be further divided into four categories of time stress, anticipatory stress, situational stress and encounter stress Time stress is due to a real or imaginary deadline. Anticipatory stress is caused by perceiving an upcoming event will be unpleasant. Situational stress arise when an individual faces unpleasant event and worries about what happen next. Encounter stress occurs when there is a contact with others. Time stress is the most common among pilots as A pilot lives a life of deadlines.(Jeeva and Chandramohan, 2008). Stress can also be caused by alcohol consumption, self medication, drug, tobacco use, inadequate diet and nutrition. In short, we may encounter stress everyday and it is unavoidable. Overload and underload of stress has great relation to aviation safety. Overload and underload refers to the stress at a level that is too high or too low, that is uncontrollable by the pilot Personality inadequacies in coping with stress seem to result inShow MoreRelatedExploring Corporate Strategy - Case164366 Words   |  658 PagesGlobal Forces and the European Brewing Industry, tests a reader’s understanding of the main issues inï ¬â€šuencing the competitive position of a number of organisations in the same industry with a relatively short case. For a case that permits a more comprehensive industry analysis The Pharmaceutical Industry could be used. However, if the purpose is more focused – illustrating the use of ‘ï ¬ ve forces’ analysis – the TUI case study or Illustration 2.3 on The Steel Industry could be used. 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