The Mexican Revolution Essay Example for Free

The Mexican Revolution Essay In the Mexican Revolution multiple ideologies were involved at once, all competing with each other. None of them was clearly associated with an image of triumph or defeat, which downplays the image of ideology associated with this process, or rather, has made a nebulous identification of them. Catholics and those clericals who were related to the church, clashed against the property of land and against the traditional oligarchy (francisized and bourgeois), often addicted to Porfirio Diaz. This process commonly describes the oligarchy as the big loser and victim of the process of modernization caused by the revolution. For instance, the current level of popularity of the Virgin of Guadalupe, the number of times that the Pope (John Paul II) visited one of the largest Catholic nation on earth. Mexico remains perhaps, today in the XXI century, as Catholic as on early twentieth century. Another ideology that starred in the revolutionary process, and possibly suffered the biggest defeat was the positivist thinking. Dominant in Mexico since the second half of the nineteenth century, it served to provide of theoretical grounds to the extensive dictatorship (more than three decades) of Porfirio Diaz, and helped to justify (with its racist determinism) the inferiority of the natives and the mestizoes, or the Mexican. In fact, Porfirio considered the people of Mexico as immature for democracy, which was another argument for his more convenient and permanent re-election. Positivism was also tied to the landowner oligarchy, but more to the urban and conservative bourgeoisie, which was a permanent aspirant to social advancement. It was common to find their exponents in the huge state apparatus loyal to Diaz, in the universities and in the army. This thought often decanted in other ideology that is liberalism, also dragged from the nineteenth century, but which takes a great strength in the new urban middle classes and in part of the bourgeoisie that was jaded of the eternal dictators regime, it is liberalism which articulates the initial criticism to the Porfiriato, being hostile to the excessive exploitation by which the Mexican countryside was being submitted. It is this ideology that accelerates, according to general opinion, the revolutionary process. It is from this speech that, after the dialogue had failed, the mass was led to rise against the tyranny of the dictator, an invocation which proved to be for the sole purpose of the use of force and rage of the people, because it didn’t empathize with the demands of the peasants (most of the Mexican population of the time) or those of the emerging urban industrial working class or of the mining class in the province (usually linked to oil). With a marked influence of American liberalism (as opposed to European positivist ideas), liberalism enables to articulate and launch the first serious calls for uprising (for example, the San Luis Plan was launched by Madero from his exile in San Antonio, Texas). In addition there was a presence of anarchist ideology and to a lesser extent of socialism, which in some way guided the illiterate peasant forces, without actually entering them (there were only sketches of these ideologies in the proposed policies and actions of the major peasant leaders, namely Pancho Villa and Emiliano Zapata). Anarchism and socialism, sometimes separately, and many other times combined, strongly caught on the working class of Mexico City and other industrial centers of the country, they helped enormously in the turmoil of the pre-revolutionary process of 1910, usually operating from exile (for instance, associations of anarchists in California and socialists in Mississippi) and then vaguely reflected in the agreements of the Convention of Aguascalientes, which approved the Ayala Plan, a cornerstone of the subsequent Mexican agrarian reform. And finally we can define a last ideological factor, often ignored or downplayed, always misunderstood from the classical analysis, this is the native-peasant thought that is present throughout the whole history of Mexico and is the main foundation of the current Mexican nation. Many believe that without the discontent of these masses, accumulated over centuries of exploitation and absolute subjugation, the outbreak would not have occurred with the magnitude that it had. Most of the military conflict was made up of disgruntled peasants (in the case of the rebels) or peasants enlisted by the drafts (federal army). The main slogan of the armies led by Zapata and Villa is the division of land, not by ambition, but for their attachment to it. It is the awareness that all is owed to it, the place to which they have always belonged to, that has always been in the atavistic memory of the community, and is also the land which gives the fruit, which represents the yoke of slavery, that ties to the employer, to work for others. The land represents the entire universe of native peasants; everything good and bad that can happen to them is linked to it. But if we must define the ideology of revolution, or the one that has mobilized and convinced the masses to revolt, to slaughter, to fight, and often to death (1,000,000 approximately), this is not definable, even non-existent for many. Because the Mexican peasantry faithfully and blindly followed to warlords, who were not clear how to design a speech or an organization to legitimize their demands. This is reflected in the attitude of Zapata and Villa to take and occupy Mexico City, when they have taken hold of the city they don’t know what to do, they do not locate in that place that represents the power and therefore appoint a lawyer as president, which was Gutierrez, to enact laws to carry out their demands. But the peasants followed their leaders with almost messianic devotion, without a clear ideological conscience. It can be said that there was not a revolution in Mexican politics. There was a rearrangement, a modernization, but the resulting political system merely replicated and deepened, in a more sophisticated way, the old monopoly of power that was criticized to Porfirio Diaz. The PRI (Institutional Revolutionary Party) ruled the country for nearly seventy years, and as its name suggests, it proclaims by itself the institutionalization of the revolutionary process. During the lengthy period of years that this party dominated, there were countless electoral manipulations for the sole purpose of retaining power. It is true that land reform was carried out, but access to the command remained restricted to many and split between a few. Peasants did not access to this apparatus of power, and they were who, basically, carried out the revolution (after their leaders Francisco Villa and Emiliano Zapata). The Mexican politics did not follow the expansive course usually followed after a revolutionary victory, to put it briefly; there was not even an attempt to export the revolution. In fact, Mexico remained in the relative seclusion in which it was. Society, in contrast, showed a little better this revolution. Peasants agreed, but not throughout the country, to own the land for which they fought and yearned for so long. The modernization is evident in several aspects, the country gradually loses the image of rural indigenous nation that traditionally held, and becomes one of the most modern in Latin America, not yet being clear whether this is because of the magnitude of its population, or due to a real modern vocation of Mexican society. Mexico is a society of contradictions and polarizations, where indigenous communities coexist with rich ancient traditions (perhaps prosperous) with developed urban communities, which in turn contrast with very poor and extensive slums, which often receive indigenous and mestizo peasants from uprooted and impoverished communities. But it is doubtful to believe that the Mexican society and its political expression did assimilate the revolution, or inherited a tradition of this. Mexico is a fairly conservative country in many respects, being perhaps its ultimate expression the passivity with which it accepted and took over half a century of institutional revolutionaries in power, but very early it became clear that these â€Å"revolutionaries† only reproduced the political corruption that was previous to the revolutionary period. Mexicans seemed to assume with usual indifference the electoral manipulations and political gatopardisms. The revolution seems to be more an expression of a highly curbed energy, which springs from the bowels of the earth after centuries, a release that does not mostly renew the landscape, which covers with its centenary magma, but it gives to it more vigor in the germination of an order within the apparent chaos that is the Mexican society. Mexico did not change radically its political and social order, as in other post-revolutionary societies. What actually happened is that Mexican society shocked its dust off (during the revolution) in order to fully receive the coming century, leaving behind those most unpleasant elements inherited from the colony. The Mexican Revolution was a conservative revolution, which really did not intend to renew the Mexican society, as they didn’t know clearly what they were fighting for, or more simply, there was no clarity about general goals.

Technology and Its Influences on Humanity Essay Example for Free

Technology and Its Influences on Humanity Essay As technology becomes a bigger part of our every day life, more people are questioning its influences on our humanity. There are many factors to consider when looking at this question, beginning with, â€Å"who is affecting whom?† Are we changing our technology to fit our ideas on humanity, or is our humanity changing the way we influence technology? We also need to look at the meaning of the words technology and humanity to understand the question fully. Yes, technology has a huge influence on our humanity as it is such a major part of our every day lives and has become part of the evolution of human nature, it modifies human qualities, while at the same time, humanity is influencing technology as the development and expansion of technology is created by humans. To start to understand this question we should look at the words and their meanings. Definition of humanity the quality or condition of being human, human nature. Human nature is the concept that there is a set of inherent distinguishing characteristics, including ways of thinking, feeling and acting. Human nature is what gives us a moral sense, provides us with the social skills to live in society. The qualities of humanity include the abilities to feel, create and love however, it also includes qualities which are not necessarily appreciated such as suffering, aging, and being imperfect. All of these natural human qualities form unique individuals which make up the fascinating diversity of human nature. Next lets look at the word technology: how people modify the natural world to suit their own purposes generally it refers to the diverse collection of processes and knowledge that people use to extend human abilities and to satisfy human needs and wants. Genetics, robotics, information technology and Nano processes – which modify and transform humans and human nature are some examples of recent advancements in the technology field. These technological innovations are adding up to a world profoundly different from the one humans are accustomed to living in. Humans greatly benefit from these technological innovations as almost all technology is created in order to make life easier and more enjoyable. Although technology is making life easier and helping human desires to become reality, in the long run, it will change the course of humanity. Technology which accomplishes work much faster, easier and simpler than humans is increasing, hence, may result in the future where humans are not needed. Although technology has many benefits for humans, the rapid developments of technology could be said to be influencing the concept of humanity. However, this exponential innovation can be considered as a part of humanity. It is true that humans are the ones who have created these innovations, hence is it correct in considering technological innovations to be part of humanity or diverged from humanity? Here is a logical explanation of the fact that humanity is influencing technology. Technology comes about only because of the human, thinking, rational mind. The human mind is the essence and core of our humanity. Without the human mind, there are no life-saving comforts that we can take for granted. Without these life-saving comforts, all of civilization as we know it would collapse†¦. without humanity, there is no technology. The development of technology is humans extending their own horizons and hence, technology can be said to be influenced by humanity or to be part of the nature of the human species. Technology is rapidly increasing as it benefits and fulfills what people want in life. However, technology is likely to influence and affect humanity in negative ways such as altering the nature of humanity which can lead to issues concerning morals. Yet at the same time, technology can be considered as a part of the nature of human evolution or an influence of human nature. However, the importance of keeping humane qualities should not be influenced, forgotten or taken over by technology. When we consider how older generations had very little if any technology (in the same form that we now consider technology) compared to present day advancements, it would seem important to compare those from older generations with those from present generations. These advancements in technology really began to boom after the first world war, due to every changing requirements to make warfare more advanced than other countries. These very quick advancements are still the basis for a lot of todays technology. Through exploring this question, it can be understood that although technology can have negative effects on humanity, it is almost impossible to eradicate the developments of technology as it is part of the evolution of human nature. Hence, humans must aim to live with technology to create meaningful value for all humanity. On the flip side, there are a lot of technology advances that have made our health and well being more advanced, we are now living longer and are more aware of any possible health complications. As well as having more capable and complicated machines to do many different things, such as diagnosing and treating the sick. However, even though technology can be considered as part of humanity, it should not be taken for granted as it is more important to preserve the qualities which make people human. It is somehow necessary to our self-understanding of what we are as human beings†¦ you can’t have courage without risk†¦ real compassion or sympathy without the personal experience of pain. Therefore, it is necessary that technology allows us to more fully express our humanity, instead of overwhelming it. Thus, what is important is what humans do with the technology which has great influence on humanity. Hence, technology should be used and created while preserving humanity.

The Business and Financial Performance of Tesco Plc

The Business and Financial Performance of Tesco Plc Introduction and Justification of Research Subject 1.1. Topic Selection Oxford Brookes University allows me to choose a topic for my research project from 20 research subjects relating to different academic disciplines i.e. accounting, marketing, management and I have chosen topic number 8 The business and financial performance of an organization over the three years of period; and select the TESCO Plc as a case study . The business and financial analysis will be based on the data from year ending 2006 to 2008. I will benchmark the financial performance indicators of Sainsbury Plc to make comparative analysis. Comparison of both organizations will be a like-for-like analysis as they both operate in same industry i.e. retail market. The focus of my research will be critically evaluation of financial performance of TESCO Plc and its contextualization into business strategy of TESCO. The subject matter intends to conduct research that will provide external points of view on the financial performance of TESCO from all its stakeholders, i.e. shareholder, Investors, Financial Institutions, Government Agencies, Customers and employees etc.. 1.2. Motivation to Choose This Topic The motivation for me to select the topic of business and financial performance of organization is my prior understanding and academic knowledge on accounting and finance that build during my study of ACCA. I have studied the subject on preparing financial statements, financial reporting, financial information management and performance management control. These all subjects primarily relate to analyse the financial performance of the organization and build my skills in accounting ratio. I find this research project is an opportunity to apply these knowledge and skills in accounting in applied manners on real business scenario. The topic also relates to my professional career objectives as my aim is to pursue my career in field of financial analysts. This research project will be an initial exercise toward my career targets. This research project also builds my managerial skills i.e. research skills to find out appropriate financial information for analyses, interpretation skills to write financial analytical report, integration skills to contextualize the financial data within overall business strategy to conclude the results. 1.3. Reason to Choose This Organization I select the TESCO Plc for my analysis because it is one the biggest retail giant of United Kingdom since 1995 and have become third biggest retailer over the world in 2008. It is operated in diverse territories of the world includes republic of Ireland, Japan, Malaysia, Poland, Slovakia, South Korea, Thailand, and United State. The TESCO Plc also operates in diverse range of business and products that includes food and drink, clothing, consumer electronics, financial services, telecoms, health insurance, dental plans, retailing and renting DVDs, CDs, music downloads, Internet services, software and petrol filling stations. The profits have been exceeded over  £2 billion over the year 2009. In July 2008, TESCO Plc held 31.6% market share of UK grocery marketing that was 3% higher than the previous year while the major competitor Sainsbury held only 15.9% with increment of 1% over last year. The basic earning per share of TESCO is continuously increasing since 2006 from 19.70%, 22.3 6% 26.95% consecutively. The unique competitive characterizes of TESCO Plc motivate me to pursue research project on this organization. It will provide me the opportunity to analyze its business strategy and financial performance in international context. 1.4. Research Aims and Objectives The objective of research is to critically evaluate the financial performance in relationship with overall business performance of TESCO Plc for the year starting from 2006 to 2008. The study objective is to synthesize business and financial performance to pinpoint the implications of business strategy of TESCO, its effects on financial performance to sustain long term competitive position. The researcher aims to provide transparent opinion around business and financial position of TESCO to its all stakeholders. In order to meet this research objective, I set following research questions to be answered in my analysis. 1.4.1. Research Questions On what critical underpinning TESCO business strategy stands? What is the existing financial position of Tesco Plc? Does the business strategy and financial position support each others? What are the critical factors that impact on business and financial performance? What are the implications for TESCO future growth? 1.5. Overall Research Framework to Meet Research Objectives and to Answer Research Questions 1.5.1. Evaluation of Business Strategy The research project will evaluate the prospects and growth strategy of TESCO where I will analyse retail marketing strategy, its business operations, online retailing, and impact of technology. In order to conduct these analysis:- I will apply the Generic Competitive Strategy model developed by Porter (1980) in my report to analyse the competitive strategy of TESCO Plc. I will apply Ansoff Growth Matrix to analyse the growth strategy of TESCO Plc. 1.5.2. Evaluation of Financial Performance Strategic Analysis I will calculate the financial ratio of TESCO Plc over the three year to analyse the financial position. The ratio analysis will be based in profitability, liquidity, efficiently and investment ratios.. I will also conduct the strategic analysis of TESCO. I will apply SWOT analysis framework that will identify Strength and Weakness of TESCO and Opportunities and Threat within market. I will apply PESTEL analysis I will apply Porter (1985) five forces competitive framework includes rivalry of buyer, supplier, customer and substitute products. Chapter # 2 Information Gathering The chapter describes the research methodology applied for the research report and has been structured into section:- 2.1. Nature of Research Data The nature of data required for research is highly depended upon the nature of research problem and research objective. There are two types of data that can be used in research analysis one is called primary data and second is called secondary data. 2.2.1. Primary Data The primary data is first hand information collected by the research to investigate the research subject. The primary data is collected through personal interview, questionnaires, focus group interviews, observation, case-studies, diaries, critical incidents and portfolios. The primary data once collected become secondary data for others. 2.2.2. Secondary Data The secondary data is information or data that has already been collected or recorded by someone else, usually for other purpose. A lot of information gathered by the government, information pertaining to financial marketing such as stock prices and trading volumes is widely available in financial newspaper or online at various financial portals, annual reports of public companies etc. I used secondary data for my research. This study required the financial information covering the period of three years, marketing plans, future strategy, the information about the influencing factors on financial performance and marketing strategy such as economical, political, social and industry competitiveness etc. The information are only possible to collect by relying on secondary source of data. The collection of primary data on these research variables is needed long time, heavy cost and perhaps impossible to collect. 2.3. Collection of Secondary Data 2.3.1. Annual Public Report of TESCO Plc and Sainsbury I used the annual reports over the past three years of TESCO Plc published. The annual report of TESCO provided me the information related to financial data, organization infrastructure, organization mission and objective, organization achievement and future plan. The annual report contains the message of chairman, chief executive officers and management that will provide me information to understand the business strategy and future plan of the TESCO Plc. I used the annual report of Sainsbury to conduct comparative analysis to evaluate the performance of TESCO. This resource provided information to apply in calculation of financial ratios analysis, describing competitive strategy, growth strategy, and conducting SWOT analysis. I accesses TESCO online from the internet website www.tesco.com and Sainsbury from www.sainsburys.co.uk . 2.3.2. New Papers I used the secondary information source published in newspapers. The both organization are prominent entity of retail grocery industry and reports relates to these organization regular published in news paper. These reports provided me external views to know about the performance of TESCO and helped me to conduct the external analysis (PEST, Porter 5 forces) to identify the key threats and opportunities and internal analysis to pin point the strengths and weakness of TESCO. The Types of newspaper that I have read include:- Financial Time Guardian The Independent The Time Journal of retailing and distribution 2.3.3. Books The books are the traditional source secondary data. The limitation of this resource is that books are normally not provide up to date data and are emphasis on general descriptions. But the books are very useful to understand the concepts and theories that help to follow research methodology and conclude research findings. I used the book particularly to understand research model and analysis applied to my study. This equipped me to critically understand the application of financial ratios, Ansoff matrix model, SWOT Analysis, PEST and Porter Five Forces Analysis. I studied the following book:- Pearce, J. and Robinson, R (2005) Strategic Management Johnson, G. and Scholes, K. (2008) Exploring Corporate Strategy Hill, C. W. L., Jones, G. R., (2007) Strategic Management Thompson, A. A. Strickland, J. A. (2003), Strategic Management Mishkin, F. S., Eakins, S. G., (2005), Financial Markets and Institutions Brealey, R. A. (2002), Principles of Corporate Finance 2.3.4. E-Resources I used the resources available at internet that provided me the counter information to evaluate the financial and business performance. One of the limitations of e-resource is that it lacks credibility than books and annual reports but provides independent external opinion in large extent. I accessed the following data in conducting my analysis. Biz/ed: A gateway for primary and secondary business and management information UK focus available at www.bized.ac.uk Directgov. UK government published official statistic available at www.direct.gov.uk RBA Information Service: Business information gateway with links to business, statistical and government country sites. UK Data Archive: Collection of UK focus digital data in social science available at www.data-archive.ac.uk Netmba:- e-resource of management, strategy and finance available at www.netmba.com FT info: company information more than 11000 including financial performance. London Stock Exchange available at www.londonstockexchange.com 2.3.5. Library Research I joined the library of London school of economics that provided me the access to comprehensive list of book and published material around my research subject. 2.3.6. Credibility of Secondary Data As it is said that the secondary data is normally deviates to the research problem as result the credibility of secondary data to use in research is always questioned. To make sure the applicability of secondary data applied the following check list. Where and when the data is collected? Who publish the data? Do the data cover the information I need? Is the information is detailed enough? Do the data follow the definition I apply in my research problem? Are the data accurate enough? 2.4. Research Approach The research approach may be qualitative and quantitative. My research includes both type, it relates to quantitative when analysis and interprets the financial performance of the TESCO with the help of financial ratios and qualitative in nature when investigates business performance of the TESCO with the help of business model of SWOT, PEST, Five Forces, Ansoff Matrix. So the data should be collected in both forms quantitative and qualitative. 2.5. Research Ethics I also considered the research ethics in my report. The research findings are interpreted in a way that provides the foundation to TESCO to know their lacks and impediments in business strategy not in the way to tarnish the image of the TESCO. Moreover only reliable information is includes in analysing the business strategy and financial performance, most of which is published by the Tesco itself. On the other the researcher did not hide or manipulate any information and provide transport fair view of Tesco performance for all stakeholders. 2.6. Business/or Accounting Techniques Applied I have applied the following techniques in my research and analysis Project. 2.6.1. Financial Ratio Analysis to evaluate the performance of Tesco and Benchmarked company Sainsbury I have used ratio analysis. The limitation of accounting ratio is that it is based on accounting reality and ignores the economic realities. It can be easily manipulate by using various techniques such as valuation of stocks FIFO and LIFO method etc. I have used Profitability Ratios Gross Profit Margin Net Profit Margin Return on Capital Employed Return on Equity Liquidity Ratios Current / Woking Ratio Acid Test/ Quick Ratio Efficiency Ratios Debtors Turnover Debtors Days Creditors Days Net Asset Turnover Stock Turnover Stock Days Investment Ratio Earnings Per Share Interest Cover Dividend Per Share 2.6.2 Generic Competitive Model of Porter (1980) I have also applied The generic competitive strategy model develop by porter (1980) . 2.6.2. Ansoffs Product/Market Matrix I applied The Ansoff Growth Matrix to illustrate the growth strategy of TESCO. 2.6.3. SWOT Analysis The SWOT (Strength, Weakness, Opportunities and Threat) analysis has been applied with the help of external analysis of PESTEL (political, economical, social, technological, environment and legal), 5 Forces (customer, supplier, entrance, substitute, rivalry) and internal analysis of financial ratio, organization infrastructure, porter (1985) value chain analysis is applied. The combination of these analysis eliminates the limitation of each other i.e. PESTEL analysis not captured industry competence for this 5 forces Model is applied. Chapter # 3 Interpretation of Results and Analysis 3. Financial Ratio Analysis The financial ratios are illustrated in figures both statistically and graphical of both organizations TESCO and Sainsbury for the period of three year from 2006 to 2008. The short description of each financial ratio is provides with individual ratio and more focus is given to the analyse result in context strategic analysis to conclude rational research findings. 3.1. Profitability Ratio The profitability ratio analysis includes gross profit margin, net profit margin, return of capital employed and return of equity employed. 3.1.1. Gross Profit Margin Comparing the gross profit margins will show the efficiency of the both companies. The gross profit margin was 7.67% in 05/06 which increased to 8.12% in 06/07 the increase in profit is partly due to increased sales revenue and partly due to the fact that company made huge gain of 258m on its pension fund invested in past(I.e. Exceptional Item) which is makes up 7.5% of gross profit. However gain was one off item as the GPM decrease in 07/08 to same level as in 05/06 that is 7.67% another reason for this decrease is high rate of inflation. These results show that the Tesco is struggling in managing cost of production even though sales have increased over three years time interval but the cost of production increased in line with sales. The results are very critical because the Tesco have launched cost effective retail settings Tesco.com, Tesco online and cost control measure i.e. electronic checkout till and efficient supply chain mechanism that it claims directly linked to store shop floor shelves but the financial result are adverse to its claims to reduce cost. Whereas Gross profit margin of Sainsbury is saturated over time period it was 6.64% in 05/06 which increased to 6.83% in 06/07 and gone down to 5.62% in 07/08. The sales revenue was in it is peak in 07/08 the sale increased 3.80% over the year as compare to the production cost which increased to 5.10% which indicates that Sainsbury is struggling to maintain its low cost of production thereby suffering. Overall, on the grounds of reason mentioned above it is clear that Tesco is attaining high gross margin than Sainsbury overall and in all periods 3.1.2. Net Profit Margin The net profit margin was 4.01% in 05/06, which increased to 4.41% in 06/07 the main reason for this is increase in gross profit as these two ratios are directly related to each other. Other reasons are as follow; in the same year, company discontinued one of the J.V operations and dispose its share from one of the associates, which gave rise to profit of $106m, 25m, which makes 5.6% and 1.33% of net profit. These transactions were made partly in order to pay some of the shorterm loan, which decrease finance cost by $25m, and partly to invest in other companies in order to gain the control. As shortterm loans are expensive source of finance reduction in the fiancà © cost supported by increase of 1.3% in net profit. The net profit was increased in 07/08 by 0.09% to 4.50% the main reason for this is increased sales revenue 9.80% over a year. Other reasons being are as follow: corporation tax has reduced 99m over the year due to prior years adjustment i.e. change in tax rate, more deferred tax assets, foreign exchange movements, pension and etc. Another reason being as property related profit increased 96m that makes up 4.5% of net profit. Despite of these all factors the net profit margin is low. It may be due the reduction of profit share with join ventures and payment of insurance claims to customers. Sainsbury net profit over the three-year period has significantly improved. The net profit margin was .36% in 05/06 that improved to 1.89% in 06/07 the reasons in increase are as follow; increased sales revenue, reduction in admin cost, increase in other as well as finance income. However, Sainsbury did not maintain or improved over the year in 07/08, as it was slightly down to 1.84% the main reason for this even though the sales and operating profit was improved but loss in J.V of 2m and increased finance cost of 25m caused it to be lower than previous year. 3.1.3. Return on Capital Employed This ratio is key measure of return. it measures the amount of earnings from capital provided by shareholders and lender. The ROCE was 15.15% in 05/06 that increased to 15.90% in 06/07 as operating profit increased by 13.9% and the capital employed has also increased by 9.7% the increase in the capital employed is due to issue of new share capital, increase in non- current liabilities, and massive Increase in the deferred tax liabilities. Eventhoug capital employed has increased but it did not increase inline with the operating profit that is also another reason for increase in capital employed. The ROCE in 07/08 has declined to 14.02% despite increase in operating profit of 5.1% and increase in capital employed 19.5%. The main reason for increase in the capital employed are as follow; issue of new share capital worth  £3m, which also give rise to share premium of  £135m, share based payment worth  £199 massive foreign exchange and pension gains etc. Increase in the capital emp loyed is not in line with the increase in operating profit however this increase in the capital employed will be beneficial in order to generate more operating profit as it has already started to show its effect i.e. increase in property related profit is classic example. Comparatively Sainsbury ROCE has fluctuated over the three years period. ROCE in 05/06 was 2.89% well below than Tesco but well above than it previous year where it was negative it has improved to 7.59% in 06/07. The main reason as sales have improved over the year and company also saved  £170m admin cost that shows they are managing cost well and capital employed over the year has decreased to  £1082m that is 15.8% mainly due to payments due to Sainsbury bank and other banks. The ROCE in 07/08 has again decreased to 7.06% as the capital employed has increased due to the massive gain from the pension benefits and increase in provision of deferred tax that has to settle in future. Overall, Tesco results are far more better than Sainsbury. 3.1.4. Return on Equity The return on equity is continuously increasing and has increased by 6.2% over three years and is higher than Salisbury but results are still not remarkable. This is mainly because of repurchase of share equity in the market not because of profitability. The Tesco is pursing the policy to buy back the share from the income coming from the release value of properties. 3.2. Market Ratio The market ratio I have used for my analysis are as follow: Earnings Per share, Dividend Per Share and Interest Cover. 3.2.1. Earning Per Share This ratio determines portion of company profit allocated to the each share. EPS is one of most important variable factor in determining the share price. The EPS of Tesco has been increasing since 2006. The EPS is in year 05/06 was 20.07p it has gone up to 23.84p in 06/07 followed by 26.95p in 07/08. Better profits over the years have increased the EPS another reason for increased EPS in 07/08 as Tesco bought its own share which increase EPS by 11.5%. Sainsbury have performed very well over the three years and increase EPS 82% over 3 year as Sainsbury profit has increased significantly over the three-year period due the reason such as increase in gross profit, net profit etc. Sainsbury net profit margin has increased 80.4% over three years period. Overall, The result indicates that the EPS of Tesco share high than industry benchmark. 3.2.2. Dividend per Share The dividend per share of Tesco increases every year since 2006. In the year 2006, the dividend was 8p in the year 2007 9p and in year 2008 10p. It indicates that the increase in Tesco profitability positively impact on dividend per share. Another reason for increase in 07/08 as Tesco buy back its on share which directly impact on ratio. Dividend per share On the other hand paid by Sainsbury are for same 05/06 and 06/07 of 8p but has increased in 07/08 to 10p which clearly indicates that it wants to pay same amount of dividend as per its competitor in order to attracts more shareholder. 3.2.3. Interest Cover Tesco has sustainable proportion of profit to cover interest. This is mainly because of stable external borrowing and realization of growth investment in diverse products and markets. This was 10.27% in 05/06, which increased to 13.28% in 06/07 and decrease to 12.21% in 07/08. the reason for decrease in 07/08 as PBIT increase by 6% as compare to interest paid which was 13.6% The performance is quite better and stable than Sainsbury. 3.3 Liquidity Ratio Liquidity ratio informs the ability of Tesco to meet its short term liabilities and includes current and acid test ratio. 3.3.1. Current Ratio The current ratio of Tesco is increasing over the time and indicates improving ability of Tesco to have liquid funds to repay short term obligation but it is lower than Sainsbury. The performance is better in a way that since 2006 the Tesco have grown 0.09 form 0.52 to 0.61 but still lower than ideal ratio of which is 1:1. Whereas Sainsbury who have declined from 0.88 to 0.66 which indicates that Sainsbury ability to meet its short term obligation is decreasing. Tesco is strengthening its liquidity power. 3.3.2. Quick/Acid Ratio The quick ratio has increase to 0.38 in 2008 from 0.32% of 2007, which was 0.01 low to 2006. The maintenance of cash and banks is almost according to benchmark competitor but need to be strengthened. 3.4 Leverage Ratios The leverage ratio is being applied to measure risk factor of Tesco and these includes total debt equity ratio, long term debt equity ratio and interest cover. 3.4.1. Total Debt Equity The ratios of debt to equity have increased in 2008 to 68% that was 60% in 2006 followed by 59% in 2007. The change is not critical because it is the effects of equity buy back that have decreased the equity value. It is also justifiable because Tesco is enjoying lower cost of debt than cost of equity. It will readjust when the Tesco will launch free share option for its employee. 3.4.1. Long-term Debt Equity The results illustrate similar progress to total debt to equity but more precisely describes the impact equity buy back. The Tesco still have the opportunity to raise fund through external borrowing without critical leverage. 3.5. Efficiently Ratios Efficiency ratio ratios are used to map to performance to mange stocks, debtors and assets of the Tesco. It includes the debtor turnover ratio, stock turnover ratio, debtor days, stock days, creditor days, net assets turnover and fixed asset turn over. 3.5.1. Debtor Turnover Days Debtor turnover and days are directly related to each other i.e. if one goes up second will go up as well vice versa. The debtor turnover was 44.23T in 05/06, which indicate that debtor days were less, 39.52T in 06/07 and in 07/08 36.08T that is reason in 07/08 on average each customer, took 10.12 days to pay debt. The ratio has moving trends over the time. On the other hand debtor turnover of Sainsbury have increase from 05/06 of 58.19T to 86.59T in 2008, which indicates Sainsbury is able to convert its debtors into cash frequently and enjoying having cash benefit as its debtors day have reduced from 6.27D to 4.22D. It is found that Tesco Debtor management need improvement and the debtor days are critical and need to be minimised. Debtors Days Debtors Turnover 3.5.2. Stock Turnover Days These two ratios also directly related to each other as Debtor turnover and days. This ratio informs how many times the Tesco convert stock in to sales revenue. The stock turnover ratio has decreased since 2006 that is reason why stock days for Tesco have increased over the period. As turnover was 24.88T in 05/06, therefore the days were less. It was 20.40T in 06/07 and 17.97T in 07/08, which increases the days to 20.44. Whereas the stock turnover days ratio of Sainsbury is significantly better than Tesco in all years. Inefficient stock control not only increases the storage and handling costs but also waste which impact on overall profitability. Stock Turnover Stock Days 3.5.3. Creditor Days The creditor ratio informs the ability of Tesco to settle its creditors. It is found that the Tesco creditor days are increasing over the year but always less than Sainsbury. In 2006 the creditor days was 28.47 days, in 2007 30.97 days and in 2008 32.90. This will improve the credibility Tesco to purchase competitively than its competitors. Keeping in view of early payment to creditor it can get competitive purchasing price that help it to over good cheaper in the marketing or attain higher margin. 3.2.4.6. Net Asset Turnover The net asset turnover ratio informs Tesco assets ability to generate sales. It is found that net asset turnover ratio is in 2006 is 2.62, in 2007 is 2.56 and in 2008 is 2.38. The ratio has been decreased in 2008. This reflects the impact of heavy investment made by the Tesco on store refurbishment, electronic tills and infrastructure. The performance is almost equal to Sainsbury. 3.6. Evaluation of Future Prospects and Strategy Analysis 3.6.1. Competitive Strategy The Tesco aims to deliver maximum value and choice to customer to attain their life time loyalty. According to my analysis the Tesco is pursing hybrid strategy simultaneously is struggling to achieve low price and differentiation relative to competitors i.e. Wall Mart-ASDA and Sainsbury but influence of low cost is very high than differentiation. It has launched its low cost brand Tesco value, price discount but on the other hand have premium brand i.e. Tesco Finest. The Tesco declares itself as discounter. The underpinning of Tesco competitive is a relentless attitude lowest cost provider of goods and services to be successful in worlds most competitive markets. Porter Generic Competitive Strategy Presentation of TESCO Competitive Advantage Efficiency Quality Competitve Scope Brand Market Low Cost TESCO Differentiation Narrow Market Focus Cost Focus Differentiation 3.6.2. Growth Strategy The Tesco is pursing consistent strategy since 1997, which strengthen its core UK business and help to drive expansion into new product line and international markets. According to the Ansoff Matrix presentation, the Tesco is operating in all three extremes. It has introduced Non food, Tesco online retailing, launched personal finance, Insurance and enter in telecommunication sectors. The have entered into 12 international markets. Ansoff Matrix Presentation of Tesco Growth Strategy Existing Products New Product Existing Market Market Penetration UK Core (Grocery) Product development Non-Food Tesco Online Personal Finance Insurance Telecom New Market Market Development 12 International Markets Diversification The grocery business of Tesco is the largest contributor of its revue to  £51.8bn which is 40% of total sales, Asia 29% and Europe 25%. Intern

Elements of Fiction in Danielle Steel’s Mixed Blessings :: Danielle Steel Mixed Blessings Essays

Elements of Fiction in Danielle Steel’s Mixed Blessings Danielle Steel, in her work of fiction, Mixed Blessings, has effectively used plot, setting, and theme as she weaves a powerful tale of three couples who face decisions about having children that will test, in unexpected ways, the ties that bind them as lovers, partners, and friends. Steel has used these elements to emphasize that there are people who have such a great need and love for children. In Mixed Blessings, she represents women radically and optimistically as shown by Diana Goode, Barbie Mason, and Pilar Graham, unlike the negative representation of womanhood in the movie version of her other novel, The Ring, where Kassandra feels that taking her own life would save her children and her husband from the shame of her unfaithfulness. First, there is a major plot structure in Mixed Blessings, the plot of complications. Right from the beginning, Steel portrays the female characters in terms of their dreams, careers, and their curiosity about having a family. For instance, Diana is the middle child amongst three sisters; her goal is to classically strive to be better, smarter, and more successful. She feels that she has to achieve something more than her sisters have done. Gayle, Diana’s older sister has a dream of attending medical school, but she happily succumbs to marriage temptation. In fact, in Steel’s own words Gayle’s situation is described as: Her oldest sister, Gayle, had been set on going to medical school until she met her husband in her first year of premed, married him that June, and instantly got pregnant. . . . Gayle never looked back at a career in medicine once. She was happily married, and satisfied to stay home with her girls and keep busy with them and her husband. She was the perfect doctor’s wife, intelligent, informed, and completely understanding about his hours as an obstetrician. (6) As the plot progresses, Diana has her own complications from the Intrauterine Device (IUD) she has been using for the past eighteen years. The IUD delayed her from having a child immediately after her marriage. Another aspect of plot that Steel has used in this novel is the reversal of fortune, where Diana, the young elegant looking woman, who knows where she is going and what she wants out of life, ends up being frustrated about inability to have a child.

Clear Channel and the Cultural and Socio-Political Ramifications of Med

Clear Channel and the Cultural and Socio-Political Ramifications of Media Consolidation I.INTRODUCTION In 1996, Congress passed the Telecommunications Act thereby lifting restrictions on media ownership that had been in place for over sixty years (Moyers 2003; Bagdikian 2000: xviii). It was now possible for a single media company to own not just two radio stations in any given local market, but eight. On the national level, there was no longer any limit on the number of stations a company could own – the Act abandoned the previous nation-wide ownership cap of forty stations (20 FM and 20 AM). This â€Å"anti-regulatory sentiment in government† has continued and in 2004 the Federal Communications Commission (FCC) approved a new rule that would allow corporations to own â€Å"45 percent of the media in a single market, up from [the] 35 percent† established by the 1996 Act (Croteau & Hoynes 2001: 30; AFL-CIO 2004). Companies can now also own both a newspaper and a television station in the same city (AFL-CIO 2004). This deregulation has led to a frenzied wave of mergers – most notably the Viacom/CBS merger in 1999, the largest in history (Croteau & Hoynes 2001: 21). Ownership of the media has rapidly consolidated into fewer and fewer hands as companies have moved to gobble up newspapers, television stations, and radio stations across the country. Perhaps no other company has benefited more from this deregulation than the company which is the focus of this essay – Clear Channel Communications, Inc (CC). The Telecommunications Act and the actions of the FCC paved the way for the rise of this radio industry behemoth. In 1995, the company owned 43 radio stations nationwide. By 2002, it owned 1,239, making it the largest radio company in th... ...in Dubious Times. Urbana, IL: University of Illinois Press. McChesney, Robert W. and John Nichols. 2002. Our Media, Not Theirs: The Democratic Struggle Against Corporate Media. New York: Seven Stories Press. Moyers, Bill. 2003. â€Å"Transcript: Bill Moyers Interviews Larry Klayman.† NOW: With Bill Moyers, July 11. Retrieved November 4, 2004 (http://www.pbs.org/now/printable/transcript_clearc_print.html). Open Secrets. 2004. â€Å"TV/Radio Stations: Top Contributors to Federal Candidates and Parties.† Retrieved October 7, 2004 (http://www.opensecrets.org/industries/contrib.asp?Ind=C2100). Spivak, Laurie. 2004. â€Å"Culture War May find WMD.† Retrieved October 2, 2004 (http://www.alternet.org/story/18090). Turner, Ted. 2003. â€Å"Monopoly of Democracy?† The Washington Post, May 30. Retrieved October 28, 2004 (http://washingtonpost.com/ac2/wp-dyn/A56132-2003May29?language=printer). Clear Channel and the Cultural and Socio-Political Ramifications of Med Clear Channel and the Cultural and Socio-Political Ramifications of Media Consolidation I.INTRODUCTION In 1996, Congress passed the Telecommunications Act thereby lifting restrictions on media ownership that had been in place for over sixty years (Moyers 2003; Bagdikian 2000: xviii). It was now possible for a single media company to own not just two radio stations in any given local market, but eight. On the national level, there was no longer any limit on the number of stations a company could own – the Act abandoned the previous nation-wide ownership cap of forty stations (20 FM and 20 AM). This â€Å"anti-regulatory sentiment in government† has continued and in 2004 the Federal Communications Commission (FCC) approved a new rule that would allow corporations to own â€Å"45 percent of the media in a single market, up from [the] 35 percent† established by the 1996 Act (Croteau & Hoynes 2001: 30; AFL-CIO 2004). Companies can now also own both a newspaper and a television station in the same city (AFL-CIO 2004). This deregulation has led to a frenzied wave of mergers – most notably the Viacom/CBS merger in 1999, the largest in history (Croteau & Hoynes 2001: 21). Ownership of the media has rapidly consolidated into fewer and fewer hands as companies have moved to gobble up newspapers, television stations, and radio stations across the country. Perhaps no other company has benefited more from this deregulation than the company which is the focus of this essay – Clear Channel Communications, Inc (CC). The Telecommunications Act and the actions of the FCC paved the way for the rise of this radio industry behemoth. In 1995, the company owned 43 radio stations nationwide. By 2002, it owned 1,239, making it the largest radio company in th... ...in Dubious Times. Urbana, IL: University of Illinois Press. McChesney, Robert W. and John Nichols. 2002. Our Media, Not Theirs: The Democratic Struggle Against Corporate Media. New York: Seven Stories Press. Moyers, Bill. 2003. â€Å"Transcript: Bill Moyers Interviews Larry Klayman.† NOW: With Bill Moyers, July 11. Retrieved November 4, 2004 (http://www.pbs.org/now/printable/transcript_clearc_print.html). Open Secrets. 2004. â€Å"TV/Radio Stations: Top Contributors to Federal Candidates and Parties.† Retrieved October 7, 2004 (http://www.opensecrets.org/industries/contrib.asp?Ind=C2100). Spivak, Laurie. 2004. â€Å"Culture War May find WMD.† Retrieved October 2, 2004 (http://www.alternet.org/story/18090). Turner, Ted. 2003. â€Å"Monopoly of Democracy?† The Washington Post, May 30. Retrieved October 28, 2004 (http://washingtonpost.com/ac2/wp-dyn/A56132-2003May29?language=printer).

Lansdowne Hermes :: Art Analysis

  Ã‚  Ã‚  Ã‚  Ã‚  Sculpture is a medium that artists in ancient Greek commonly used to express spoken truths in an unspoken form. Every piece of ancient Greek sculpture has more than what the eye sees to explain the story behind the [in this case] marble.   Ã‚  Ã‚  Ã‚  Ã‚  Viewing the Lansdowne Hermes with a naked eye and what you will see is a larger than life-size statue depicting a man with an ideal body leaning with the majority of his weight on his right foot. His right arm is resting on his right buttock in an almost effortless pose. The left side of his body tells a different story. His left foot has barely any weight on it, and his left arm is supporting a pretty large portion of cloth wrapped so it perfectly wraps around the shoulder and rests just above the wrist. It appears that he was at one time holding some sort of sword or stick. To the naked eye that is what this sculpture seems to be, accepting a sculpture as a piece of art. Glancing at the Lansdowne Hermes you can appreciate beauty of art for beauty of art. However the sculptor had much more in mind when he created this figure from a large unscathed piece of marble. Looking deeper into the statue a trained (or imaginative) eye can see more than what is just given at a glance. The pose given by Hermes is the classical pose of contraposto. Contraposto is a pose developed where the majority of the weight is placed on one leg and the other leg in a relaxed with relatively no weight on it in a position that can both be relaxed and ready to jump to action in the same resting position. The virtually unnoticed half palm tree that Hermes is resting against gives a divine character an almost mortal because of the necessity of support on an earthly object. In the pose where the presence of strength and anticipation of a move, there is also the presence of a mortal presence. The balance of the counter limb activity is present in the contraposto stance expressing a certain diagonal symmetry. In the Lansdowne Hermes both the right arm and the left leg are in the resting position awaiting the next motion. The right arm is resting on the right buttock anticipat ing some sort of motion or action to be carried out by the seemingly dormant arm.

History of the New York Yankees

The New York Yankees are hands down the most successful franchise in professional baseball. They became the modern day goliath in every facet of the game. However, it hasn’t always been like that. The team originated in the late 1800’s in Minneapolis, Minnesota. In 1899, the Minneapolis team moved to Baltimore, Maryland, where they became the Baltimore Orioles. Minneapolis and Baltimore both failed to realize the behemoth that was to become the Yankees. In 1903, the team moved to New York City, and became the New York Highlanders. The New York Highlanders built a stadium at 168th and Broadway, and called it Hilltop Park.After losing their first game against Washington, they won their first home game, against the same Washington team. This is when their uniforms developed the famous pin stripes. In 1913, the team moved to the Polo Grounds and officially became the New York Yankees. The Yankees acquired many players from the Boston Red Sox because the owner of the Red Sox refused to pay high salaries. George Herman Ruth Jr. , known to sports fans as Babe Ruth was the most notable acquisition in 1919. In the 1920’s the Yankees won 3 world championships, and started their rise to worldwide fame.In 1923 the Yankees Stadium was built in the heart of the Bronx, in New York City. This stadium became the home of the Yankees from 1923 to 1973 and from 1976 to 2008 essay writer cheap. The stadium’s nickname, â€Å"The House That Ruth Built†, has the most history, from the dozens of Hall of Famers that played in the pinstripes type my essay online, to all the World Series titles. The Yankees stadium hosted 6,581 Yankees regular season home games during its 85-year history. Many baseball historians consider the 1927 Yankees team to be the best assembled of all time. In the World Series, they swept the Pittsburgh Pirates.This Yankee team is known for their feared lineup, which was nicknamed â€Å"Murderers' Row†. In the 1930’s the winning continued with Joe DiMaggio and Lou Gehrig, and they won four straight titles. From the 1940’s to the 1950’s the winning ways continued, as the Yankees won five more World Series titles. This was the era of Yogi Berra, Mickey Mantle, and Whitey Ford. In 1956, starting pitcher Don Larsen pitched the only perfect game in World Series history. Larsen’s gem during the 1956 World Series was the first and only perfect game to occur during the postseason and World Series.The Yankees would close the decade of the 1950’s winning a total of seven World Series titles. In 1964, CBS bought the Yankees for 11. 2 million dollars. In 1973, CBS sold the Yankees to George Steinbrenner for 10 million dollars. This would go down as one of the worst deals in sports history for CBS. While the Yankees stadium was refurbished in 1974 and 1975, they played their home games in Shea stadium, home of the New York Mets. Yankees off and on again coach Billy Martin held th e position five different times, and led the team over the Los Angeles Dodgers in six games in the 1977 World Series.This is the World Series Reggie Jackson hit three home runs in a single game, and how he earned his nickname â€Å"Mr. October. † The 1980’s were lean times in which they did not win one World Series title. Don Mattingly was the best known Yankee during the 80’s. In 1983, Dave Righetti pitched the 6th no-hitter in Yankee’s history. 1983 also marked the famous â€Å"pine tar game† with the Kansas City Royals. The 1990’s started as the 1980’s ended. A breakthrough happened in 1996 when the Yankees hired Joe Torre, and then went on to win the World Series that same year. Torre brought the winning edge of previous decades to the new age Yankees.Derek Jeter would go on to become the next Yankees legend. The Yankees went on to win the 1998, 1999, and 2000 World Series, to complete the historic three-peat. The 2008 season was the last season played at historic Yankee Stadium. To celebrate the final year and history of Yankee Stadium, the 2008 MLB All-Star Game was played there on July 15, 2008. It wouldn’t take long for their next World Series title, as they won it all in 2009 with manager Joe Girardi at the helm. In all, the Yankees have 27 championships, more than any other team in any American sport.In pursuit of winning World Series titles, the franchise has utilized a large payroll to recruit star talent, particularly under former owner George Steinbrenner. Individual names are never put on the back of a Yankee’s uniform, because you are not an individual, you are a Yankee. The New York Yankees have inducted 36 players into the Hall of Fame, with more to come in the future. Playing for the Yankees is a huge desire for many kids and professional baseball players. Putting on those pinstripes represents history and pride. Hall of famer Joe DiMaggio put it best when he said, â€Å"Iâ€⠄¢d like to thank the good lord for making me a Yankee. †