Corporate Finance And Formulas Of Ratio Analysis Finance Essay - Free Essay Example

Sample details Pages: 15 Words: 4628 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Corporate finance is defined as, the finance study with financial decisions business enterprises make and the tools and analysis used to make these decisions. Or A company division alarmed the financial operation. In most businesses raising money in corporate finance in different projects. Don’t waste time! Our writers will create an original "Corporate Finance And Formulas Of Ratio Analysis Finance Essay" essay for you Create order Corporate finance is the method of raising funds or assets for any kind of expenses. Customers business firms and normally governments do not have the funds that they make to perform their operations and the funds that could earn dividends put the original use. The capital agencies including commercial banks savings and loan family are used the glory loan and funds of business. The nonblank organization or firm recognizes the union and investment companies. Finance has three parts which is business finance personal finance and public finance. The shareholders the benefit money investment loses into different way of current assents and other assets. Corporate finance tells us and set of scales the needs of employees customers and suppliers safety of the shareholders. Ratio analyses of the range industrialized company. Profitability ratio The ratios measures that specify how fine a firm are performing in terms of its ability to make profit. Following ratio are used to indict the profitability of a company. Net profit margin ratio Gross profit margin ratio Net asset turnover ratio Operating margin ratio Financial Classes show that help to improve a businesss skill to make money as compared to its fixed cost and other valid costs during a particular stage. When these rations are higher than a competitors ratio or than the companys ratio are preceding the given time that the company is doing well and make progress. These ratios are helpful both the lender and saver t know the current state of the company and give more benefit of owners and manager of the company. These consider the primary ratios. Net profit margin ratio Formula X 100 Net income ratio of Spectrum Company 2006 (944/21,900) x 100= 4.54% Net income ratio of Spectrum Company 2007 (836/27,450) x 100= 3.05% Net income ratio of Spectrum Company 2008 (552/21,015) x 100= 2.63% Net income scope ratio of Spectrum Company goes downward. NPR of spectrum company in 2006 is 4.54 percent and when company comes in 2007 it goes to lose by about 1.49 percent and make at 3.05 percent and in 2008 its 2.63 percent this shape clearly shows that their income fall down year by year which is not a good sign for the holder and management of the company because it give bad feeling to the saver and lenders. Gross profit margin What remains from sales after a company pays out the cost of goods sold. To get gross profit margin split gross profit by sales. Gross profit margin is expresses as a profit. Formula X 100 Gross profit margin ratio of Spectrum Company 2006 (3525/21,900) x 100= 24.32% Gross profit margin ratio of Spectrum Company 2007 (6225/27,450) x 100= 22.67% Gross profit margin ratio of Spectrum Company 2008 (5895/21,015) x 100= 28.05% Gross profit ratio outline prove a good result of the company it is 24.32 percent in 2006 but it cut down in 2007 came on the 22.67percent but in very next year spectrum company improved soon and their gross profit ratio goes positive to the 28.05 percent it mean company have a good manage over their manufacture cost gives good net sales to their owners. Net asset turnover Net assent defined as, Net sales divided by total assets. Net asset turnover ratio show how good assets are used to produce income and benefit. Also called total asset turnover. Formula Capital employed= Total asset current liability Net asset turnover ratio of the spectrum company 2006 (21,900/5878)=3.73 times Net asset turnover ratio of the spectrum company 2007 (27,450/7810)= 3.51 times Net asset turnover ratio of the spectrum company 2008 (21015/8626)= 2.44 times In 2006 company net asset turn over ratio was 3.73 times but company did not sustain this shape promote and it declined minor in 2007 come on 3.51 times and it comes 2.44 times in the present year which is not a fine mark for the company its mean that company make less profits. Operating margin ratio A ratio used to measure a companys pricing strategy and operating efficiency. Formula x 100 Operating profit of Spectrum Company 2006 (1832/21015) x 100= 8.71% Operating profit of Spectrum Company 2007 (2222/27450) x 100= 8.09% Operating profit of Spectrum Company 2008 2377/21900) x 100= 10.85% Overalls its mean procedure of set cost of spectrum company improved year by year in 2006 it was 8.71 percent but in 2007 it was 8.09 percent company try to take it down its handling of fixed cost but company cannot take this drive further way from 2006 and reach on 10.85percent. Return on capital employed (ROCE) Go back on capital employed is used in finance as analyze of the return that a company is realizing from its capital employed. It is usually used as a measure for comparing the act between businesses and for assessing whether a business generates enough income to pay for its cost of resources. Formula x 100 Return on investment of Spectrum Company 2006 (2377/5878) x 100= 40.44% Return on investment of Spectrum Company 2007 (2222/7810) x 100=28.45 % Return on investment of Spectrum Company 2008 (1832 /8626) x 100= 21.24% The company shows the location about their earning. In 2006 it go back on deal 23.03 % which not bad but next year it slowly declined 18.54%. The business gain value slowly and business lose land but earning little profit. ROCE shows that business gaining or loss its resources. Leverage ratio Any ratio used to calculate the financial control of a company how to solve the problem and get an idea of the company and way of financing to calculate the skill to meet financial obligations. There are the different ratios that maintain the factors of debt justice and resources to get the fixed cost. OR A ratio is using to measure the company mix operation about cost given design and how to changes the produce to earning income. A company received more benefit to use different ratios. Fixed and variable costs are the two types of in use costs depending on the company and the business the mix change. Following ratio give output in the force ratio and is organism used to understand the leverage of the company. Capital gearing ratio Debt/equity ratio Interest cover Capital gearing ratio Universally linked to solvency ratio is the capital gearing ratio. Capital gleaning ratio is mostly used to study the capital makeup of a company. The term capital deal refers to the relation between the range of long term form of financing such as debentures favorite and fairness share capital with capital and surpluses. Leverage of capital structure ratios is calculated to test the long term financial position of a firm. The term assets Gearing or power usually refers to the total relationship between equity share capital plus capital and surpluses to desired share capital and other fixed interest bearing funds or loans. Formula x 100 If the company is much geared so he might be look some difficulties in prospect to get finance from bank or from saver. This ratio is the main for a company in value of their current sponsor or for the future investor. Because this ratio can straight affect the ability of the company is able to retain bonus policy during its bad period. Capital gearing ratio of spectrum company2006 (1779/5878) x 100=30.27% Capital gearing ratio of spectrum company2007 (3302/7810) x 100= 42.28% Capital gearing ratio of spectrum company2008 (4770/8626) x 100= 55.30% According to above statement the ratio the financial state of Spectrum Company going from bad to bad. Because in 2006 its capital gearing was 30.27 percent which not bad it mean still company more support as compared to their liabilities but it go high in 2007 which is 42.28 percent at that it is a care sign for the company but because of the ineffective management this angry its 50 percent figure at reach at 55.30 percent company become highly gearing state at this flash it clearly show the financial makeup of the that company did not have enough money for re payment of their loan and might be company come on the circumstances of the bankrupt. This is disappointing stage for the owner of the company. Debt/equity ratio A measure of a companys financial leverage planned by split its total liabilities by stockholders impartiality. It shows us how to use the assets in company in equity and debt the company. A high debt/equity ratio usually means that a company has been hostile in financing its increase with debt. This can result in volatile earnings as a result of the extra interest cost. The debt is used the finance to increased the company performance in different ways. If the earnings money increases then a better amount of debt cost shareholders is more benefit. The company use debt financing outweighs to return to solve the problem likely bankruptcy which would leave shareholders. The debt/equity ratio also used in the industry which the company operates. Formula x 100 Debt/equity ratio of Spectrum Company 2006 (1779/4099) x 100= 43.40% Debt/equity ratio of Spectrum Company 2076 (3302/4508) x 100= 73.24% Debt/equity ratio of Spectrum Company 2008 (3911/4940) x 100= 79.17% Using this ratio it is obviously show that at the present location of company is on way of well geared situation. Its d/e ratio in 2006 was 43.40 percent which was satisfactory but in pending periods there is way variation from 2006 it become 73.24 percent in 2007 and after this year there is no development company to the worse condition and it reach at 79.17 percent which is offensive by the saver or owners of the company. This is normally used the lenders or banks when these are giving loan to company. Interest coverage These ratios are used to resolve the problem of company pay interest on dazzling debt. This ratio is working the interest coverage ratio is calculated by dividing firm earnings money before interest and taxes in year and the company interest fixed cost in same year. The company lower ratio is loaded balance fixed cost. The coverage ratio is 1.5or less then it ability to get interest expenses. When coverage ratio less than 1 then the company is not received any interest expenses. If this ratio is more then 7 times it guess safe hand even if its on 3 times is suitable but below of this show worse condition of company. Formula Interest coverage ratio of Spectrum Company 2006 2377/142 = 16.74 times Interest coverage ratio of Spectrum Company 2007 2222/363 = 6.12 times Interest coverage ratio of Spectrum Company 2008 1832/389 = 4.70 times Spectrum company at rest in state to pay their all interest on their debts but this ratio decreased year by year and I thing company carry on this presentation further might be in future company will not clever to their interest. Because its interest coverage ratio in 2006 was 16.74 times which is very fine but it decreased in 2007 come on 6.12 times but in current year this ratio arrive at 4.70 times which is suitable because silent able to pay its interest but if consider this declined in future so it thing so in very next year company is not able to their interest. Current ratio A liquidity ratio that procedures a companys ability to pay short-term obligations. Or A sign of a companys ability to meet short term debt obligations the higher the ratio the more fluid the company is current ratio is like to current assents divided by current liabilities. If the current assets of a company are more than twice the current liabilities than that company is generally considered to have good short-term financial power. Formula It is possible to be said the recent should be around 2 times but its depend company to company some company 1.5 times. But if it is under 1 its mean company have not too much missing in to pay their debts. Current ratio of Spectrum Company 2006 5519/1916 = 2.88 times Current ratio of Spectrum Company 2007 9138/4307 = 2.12 times Current ratio of Spectrum Company 2008 8756/4770 = 1.84 times. Analysis of current asset ratio of Spectrum manufacturing company In 2006 Spectrum Company recent ratio was 2.88 times its mean at that time company was in burly situation to their debts which was due on that same time periods. But in 2007 it decreased come on 2.12 times which was still suitable. But in current year 2008 its make on 1.84 times which below then 2 it is fear circumstances of a company that they year by year they have not enough assets to pay their debts. Because this depart a bad feeling in market will mot draw to investor that company is able to pay their current liabilities and might be they face difficulties to obtain stack from bank or from lenders. Advantages of ratio analysis Ratio analysis key to understand of financial analysis. It is the condition of business concern and performance. It is simply says that comparison two company figure. Advantages of the ratio analysis To many groups of people who pays the attention in analysis of financial to solve the problem and better position of the company. They used the ration analysis and solved problem and workout the financial analysis and give a good business in a company. To workout the success: money people are worked of ratios and give profitability of the business and calculate the profitability ratios. It will help the company manager to know that about capacity of the business concern. To workout the Solvency: the ratio solved to solvency problem. These ratios show relationships between assets and investment. It will possible to return back the loan of business. Helpful in analysis of financial statement: the ratio analysis is helpful the outsiders creditors or shareholders. These ratios show the bankers to profitability of the company to pay interest. Helpful in relative analysis of the performance: with the help of this ratio analysis the company has got more interest as like previous year. The company knows about weak point about their performance. To simplify the accounting information: in simply accounting ratios are very useful in financial and they briefly summaries the result of complicated computations. To workout the operating efficiency: the ratio shows the efficiency of the company operation and solved various turnover ratios. All turnover ratios work the performance of the business. To workout short term financial position: the ratio makes a good business in short time. It gives good result of financial position and removes business bad efforts and makes to improve it. Helpful for forecasting purposes: accounting ratio indicate the business when it will go wrong turn. With the help of previous years result the make it perfect in future. Disadvantages Ratio analysis is completely communicated on the usual office measures for example earnings per share, in service margin ratio. There are some disadvantages which as follow. Accounting policies There is some bad effect about using the ratios. One of the accounting police indicate reliable and mirror in the business. The original business particular are important skill to make it good investment decisions. The business gives the profit showy or understand the investors are poor decision in which financial no return output. Then problem in accounting policy. The manager need to change accounting policy and not confuses everyone. Information problems Ratios are not give good events in all years. So when ratios are used to carefully. Ratios give clues to maintain the performance or financial state. The company performance show the result of information about analysis makes it good or bad. Out old information in financial statement, the old information of financial statement that facts of accounts are likely at least several months. This might not be proper sign of the company current position. Analysis of the ratio it is difficult to make simpler about whether a particular ratio is good or bad. Contrast of performance over time Price change rise renders given of result over time confusing as financial facts will not be within the same levels of buying power. The project of the company has better its act and location when in fact after adjusting changes it will show the different picture. Technology changes when the technology changes then the ratio can not show better result. Because ratios are working old method and skills. Ratios are affected the technology and loss the performance of the company. Changes in office policy the result shows the company adopted accounting police it will give good result in years as false. The problem is the accounting police give the manipulate results through the changes. Shock of seasons on trading the financial statement the end of year the result of correct evidence may not be same. Company which chooses the best time to produce financial statement is given better result and give good business. Inter firm comparison The two companies are not the same yet they are competitors in the same market. So we are using ratio and compare one company to other but different financial and business risk. FINANCIAL AND NON FINACIAL TECHNIQUES Sales to working capital ratio Indicates the firms ability to finance extra sales with incurring additional debt. Formula Sales/working capital ratio of Spectrum Company 2006 Stock turnover ratio To examination stocks a little further it is likely to use ratio analysis. The stock turnover ratio shows how many times over the business has sold the value of its stocks during the year. Formula X 365 Fixed asset turnover Fixed assent turnover ratio is use to check the value of resources in company. It will show how well the business is using the current assets to make more sales. Its fixed assets to generate sales. Formula Dividend yield The yield a company pays out to its shareholders in the form of dividends. It is calculated by taking the amount of dividends paid per share over the course of a year and dividing by the stocks price. Formula x 100 Non-financial ratio Non financial ratios are almost exclusively used by management since for outsiders the scope for different definitions makes comparison between organizations difficult. The key approaches are based on Employees Operational activities Assets Customers Suppliers They take many forms. Employees Output per hour Employee cost per hour Employee cost per unit Staff retention Employee satisfaction survey statistics Operational Units per day Rejects per 000 Waiting time Cost per hour Cost per unit Assets Machine utilization Cost per unit Downtime Repair statistics Customer Customer satisfaction Order fulfillment Complaint levels Returns Repeat orders Supplier Order fulfillment Complaint levels Returns Non financial ratios used Employee Based Operationally based Asset based Customer based Supplier based Performance of the company Marketing success Production Staff Service Manufacture Ability of the company in ratio Delivery timing Output per employee Suppliers Product life cycle Staff The result of using all ratios financial or non financial are used by spectrum Manufacturing Company. These ratios are the key of success of company. Part (b) Agency Theory A theory about the relationship between a principal and an agent of the principal. A theory explaining the relationship between principals such as a shareholder and agents such as a companys executives. In this relationship the principal delegates or hires an agent to perform work. The theory attempts to deal with two explicit problems: First that the goals of the principal and means are not in clash agency problem and second that the principal and agent reconcile different tolerances of risk. Agency theory is showing the financial economics that attention between people which is different interests in the same assets. The most important factor of agency theory between Managers of companies and shareholders Bond holders and shareholders Agency theory shows important among other things Companies give offer to make acquisitions which is bad for shareholders. Changeable bonds are used which sold with warrants. Funds agreement matters. Agency theory is seldom if ever of direct import to group investment decisions. Very important thing is financial economists model aspects which show capital markets functions. In agency theory the investors are better understand how to gain benefit. One more important factor between interest of shareholders and debt holders which conflict each other. It is bit risk to high return strategy benefits to shareholders and debt holders. Implications of Agency Theory According to me agency theory can be implicated in Spectrum Manufacturing Company on following two issues. Investment. Risk Taking. Investment Investment is use to affection of resources or assets to create financial benefits in the form of income. They make more profit in future. It is use for saving defer. Investment is used in many areas of the economy such as business management and finance. It is not affected for households firms or governments. After analysis an investment involves the choice by a person or an organization such as a income funds or led money in a vehicle or device or asset such as property product stock bond financial matter or the foreign asset denominated in overseas currency that has sure level of risk and provides the possibility of generating returns over a period of time. Shareholder of the company will always think of long term business and the other hand manager goes for the short term investment to show the value every year. For spectrum manufacturing company the conflict can arise on the issue of investment. As company is not very economically sound at this point so share holder would not wa nt any investment. Risk taking Risk taking is very important for the company manager because Risk concerns the likely value of one or more outcome of one or more likely events. For spectrum manufacturing company is not a right decision at this point to get any risk. The result of ratio analysis the company has not progress fine in these three years so if management needs to take any uncertain plan on this can grounds an agency problem. - Part (c) Dividend policy Dividend is the separation of value to shareholders. The dividend policy to be created by the company which is the base on tow factor. One is sorted out of permanent dividend policy put into place. The company policies are decided to current position and future financial position. The preferred and direction of the investors are also taken into account. A companys dividend policy is the companys standard do when deciding how big a bonus sum to create. Dividend policy may be frankly stated or investors may believe the dividend payments of the company that had made in past. A dividend police is taken a plan of out share of the company. If company is not defined the dividend police then the shareholders will be finished. The investors are likely to make The DPS maintain the dividend police which preceding whole years level is very low and company has finished the dividend as well possible. The investors are maintained the payment ratio normally level in the past and they make it completed in the future. The police of dividend increase to cover as well as it do not drop to low of payments. Companies do not increase dividends only if they are secure to increase is sustainable. It means the company management increasing dividend and indication of investors to persuade. The dividend police cuts regularly then some permanent drop in a business of company. - Q 2 (a) Debt financing Financial by selling bonds bills or notes to person or institutions. When a firm increases money for working assets or capital expenditures by selling bonds bills or notes to person and institutional shareholders, in arrival for return back the money the persons. Become creditors and receive that the chief and interest on the debt will be repaid. Debt financing is basically money that you use to run your business. Debt finance is two types Long term Debt Financing usually applies to capital your business is purchasing such as gear buildings land or technology. With long term debt financing the listed repayment of the loan and the likely helpful in life of the asset. Short Term Debt Financing short term debt finance is needed money for the day of end for operations of the business which is including purchasing list supplies or paying the employees salary. Short term financing is working long term business or short term business loan because refund time is less than one year. In a large business which you run or you have already cash flow and property then you get high safety loan. If however you area sole seller or run a small business you might be optional to use your personal wealth for example your house as security for a loan. For this reason many businesses request support for which they do not have to make direct expenses equity financing. Equity Financing Financing by selling common stock or favored stock to investors. Equity financing define as money acquired from the small or medium business owners themselves or from investors. The stockholders buy the shares in a corporation to create equity financing and the investors who give the fund for business. In small business owners are invest their own money into their businesses that gleaned from bequest saving or even the saving or even the sale assets themselves which include the equity finance which serves it. Equity financing is gift for these kinds of business or investors. They want to expend share and get the risks as well as rewards. Equity finance is work for those investors which are prepared to personal business in large amount of get loan and return to the share ownership in the firms. The searches of loan you get do not choose only one type of financing it is possible to get or loss and both equity financing are all parties involved it. They get all benefit or advantages of equity finance. Sources of financing a public company The company would choose the diverse sources of finance depending on the amount required and which it is needed. Finance drive into three categories namely Traditional sources Ownership capital Non-ownership capital Traditional sources of finance Internal resources have traditionally been the chief source of finance for a company. Internal resources could be a companys resources personal funds and profits that have not been reinvested or distributed among shareholders. Working capital is a short term source of finance and is the money used for a companys day to day behavior including salaries rent payments for raw resources and electricity bills. Ownership capital Ownership capital is the capital owned by the shareholders of a company. A business can raise large funds through an IPO. These funds are usually used for large fixed cost such as new product development growth into a new market and setting up a new plant. The various types of shares are Ordinary shares: these are also known as equity shares and give the owner the right to share the companys profits and vote at the firms general meetings. Preference shares: the owners of these shares may be entitled to a fixed share but usually do not have the right to vote. Companies that are already listed on a stock exchange can opt for a rights issue which seeks additional asset from existing shareholders. They could also opt for late normal shares where in the issuing company is not required to pay dividends until a one date or before the profits reach a certain level. Unquoted companies can also issue and trade their shares in over the counter markets. Non-ownership capital Non ownership capital includes funds raised from lenders such as banks and creditors. Companies usually use a fixed amount from a bank at a fixed interest rate and with a fixed repayment schedule. Certain bank accounts offer overdraft services. This is used by companies to meet their short term fund requirements as they usually come at very high interest rate. Factoring enables a company to raise fund using its dazzling invoices. The company typically receives about 85% of the value of the invoice from the factor. This method is more fitting for overcoming short term cash flow issues. Hire purchase allows a company to use an asset without directly paying the complete purchasing price. Trade credit enables a company to obtain products and services from another firm and pay the bill later. Sources of Finance: Venture Capital Firms in the early stages of growth can pick for venture capital. This option gives the financing company some ownership as well as power over the way of the project

Margaret Atwood s The Handmaid s Tale - 1632 Words

At the United Nations campaign launch of â€Å"HeforShe† on September 20, 2014, Emma Watson stated in her influential speech that, â€Å"Both men and women should feel free to be sensitive. Both men and women should feel free to be strong†¦It is time that we all perceive gender on a spectrum not as two opposing sets of ideals† (Duca 2014). Similarly to Emma Watson, there are countless women in our generation who strongly believe in feminism and preach about what they truly believe in. However, some women are trapped in controlled societies where they face oppression and struggle to get their voice heard on what is right and wrong. This particular society can be strikingly demonstrated in Margaret Atwood’s novel, The Handmaid’s Tale. It is crucial for women to have fundamental human rights to express themselves in our society today because there cannot be any more injustice; due to the fact that women are not safe, must stand up for themselves and are incapable when it comes to certain circumstances. Throughout Atwood’s novel, The Handmaid’s Tale, the reader is constantly presented with the impression that women are safer in the Republic of Gilead compared to the past society. One can claim that the women in Gilead are not safe at all based on their unfair treatment. This claim can be best described through the following quote from Aunt Lydia, â€Å"Freedom to and freedom from. In days of anarchy, it was freedom to. Now you are being given freedom from. Don’t underrate it† (Atwood 24). ThisShow MoreRelatedThe Handmaid s Tale By Margaret Atwood1357 Words   |  6 PagesOxford definition: â€Å"the advocacy of women s rights on the ground of the equality of the sexes† (Oxford dictionary). In the novel The Handmaid’s Tale, Margaret Atwood explores feminism through the themes of women’s bodies as political tools, the dynamics of rape culture and the society of complacency. Margaret Atwood was born in 1939, at the beginning of WWII, growing up in a time of fear. In the autumn of 1984, when she began writing The Handmaid’s Tale, she was living in West Berlin. The BerlinRead MoreThe Handmaid s Tale By Margaret Atwood1249 Words   |  5 PagesDystopian Research Essay: The Handmaid’s Tale by Margaret Atwood In the words of Erika Gottlieb With control of the past comes domination of the future. A dystopia reflects and discusses major tendencies in contemporary society. The Handmaid s Tale is a dystopian novel written by Margaret Atwood in 1985. The novel follows its protagonist Offred as she lives in a society focused on physical and spiritual oppression of the female identity. Within The Handmaid s Tale it is evident that through the explorationRead MoreThe Handmaid s Tale By Margaret Atwood1060 Words   |  5 Pagesideologies that select groups of people are to be subjugated. The Handmaid’s Tale by Margaret Atwood plays on this idea dramatically: the novel describes the oppression of women in a totalitarian theocracy. Stripped of rights, fertile women become sex objects for the politically elite. These women, called the Handmaids, are forced to cover themselves and exist for the sole purpose of providing children. The Handmaid’s Tale highlights the issue of sexism while also providing a cruel insight into theRead MoreThe Handmaid s Tale By Margaret Atwood1659 Words   |  7 Pagesbook The Handmaid s Tale by Margaret Atwood, the foremost theme is identity, due to the fact that the city where the entire novel takes place in, the city known as the Republic of Gilead, often shortened to Gilead, strips fertile women of their identities. Gilead is a society that demands the women who are able to have offspring be stripped of all the identity and rights. By demeaning these women, they no longer view themselves as an individual, but rather as a group- the group of Handmaids. It isRead MoreThe Handmaid s Tale By Margaret Atwood1237 Words   |  5 Pages The display of a dystopian society is distinctively shown in The Handmaid’s Tale, by Margaret Atwood. Featuring the Republic of Gilead, women are categorized by their differing statuses and readers get an insight into this twisted society through the lenses of the narrator; Offred. Categorized as a handmaid, Offred’s sole purpose in living is to simply and continuously play the role of a child-bearing vessel. That being the case, there is a persistent notion that is relatively brought up by thoseRead MoreThe Handmaid s Tale By Margaret Atwood1548 Words   |  7 PagesIn Margaret Atwood’s The Handmaid’s Tale, The theme of gender, sexuality, and desire reigns throughout the novel as it follows the life of Offred and other characters. Attwood begins the novel with Offred, a first person narrator who feels as if she is misplaced when she is describing her sleeping scenery at the decaying school gymnasium. The narrator, Offred, explains how for her job she is assigned to a married Commander’s house where she is obligated to have sex with him on a daily basis, so thatRead MoreThe Handmaid s Tale, By Margaret Atwood1629 Words   |  7 Pages Atwood s novel, The Handmaid s Tale depicts a not too futuristic society of Gilead, a society that overthrows the U.S. Government and institutes a totalitarian regime that seems to persecute women specifically. Told from the main character s point of view, Offred, explains the Gilead regime and its patriarchal views on some women, known as the handmaids, to a purely procreational function. The story is set the present tense in Gilead but frequently shifts to flashbacks in her time at the RedRead MoreThe Handmaid s Tale By Margaret Atwood1540 Words   |  7 Pages Name: Nicole. Zeng Assignment: Summative written essay Date:11 May, 2015. Teacher: Dr. Strong. Handmaid’s Tale The literary masterpiece The Handmaid’s Tale by Margaret Atwood, is a story not unlike a cold fire; hope peeking through the miserable and meaningless world in which the protagonist gets trapped. The society depicts the discrimination towards femininity, blaming women for their low birth rate and taking away the right from the females to be educated ,forbidding them from readingRead MoreThe Handmaid s Tale By Margaret Atwood1256 Words   |  6 Pageshappened to Jews in Germany, slaves during Christopher Columbus’s days, slaves in the early 1900s in America, etc. When people systematically oppress one another, it leads to internal oppression of the oppressed. This is evident in Margaret Atwood’s book, The Handmaid’s Tale. This dystopian fiction book is about a young girl, Offred, who lives in Gilead, a dystopian society. Radical feminists complained about their old lifestyles, so in Gilead laws and rules are much different. For example, men cannotRead More The Handmaid s Tale By Margaret Atwood1667 Words   |  7 Pagesrhetorical devices and figurative language, that he or she is using. The Handmaid’s Tale, which is written by Margaret Atwood, is the novel that the author uses several different devices and techniques to convey her attitude and her points of view by running the story with a narrator Offred, whose social status in the Republic of Gilead is Handmaid and who is belongings of the Commander. Atwood creates her novel The Handmaid’s Tale to be more powerful tones by using imagery to make a visibleness, hyperbole

Business Strategy - Samsung - Free Essay Example

Sample details Pages: 8 Words: 2492 Downloads: 3 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? Business Strategy Task 3.1: Introduction to Samsung: The organization that we have selected is Samsung. Samsung is a South Korean multinational conglomerate company. Its head quarter is in Samsung town, Seoul. Don’t waste time! Our writers will create an original "Business Strategy Samsung" essay for you Create order It was founded in 1938 as a trading company. Samsung entered the electronic industry in 1960s. Strategy used: The strategy that our selected organization, Samsung, is using is Limited Growth Strategies. Limited Growth Strategy: It is the type of strategy in which an organization focuses on its current products that are being produced and the potential market. Ways of growing are considered to make the product more innovative. Samsung basically relies on four different growth strategies i.e Market Penetration, Market Development, Product development and Innovation. Market Penetration: Samsung maintains its market shares. the organization innovates its product so that their potential customers doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t get bored with the product and they can attract new customers. In this way their customers will be satisfied with the product and this can lead to greater market share for Samsung Product Development: Samsung targets same old customers with a ne w product. By launching a new product, they will attract more customers towards their product and can increase their market share by doing so. For the awareness of the product, they advertise in TV, newspaper, and pamphlets and on billboards. Example: Samsung launching Galaxy S5 mobile phone Market Development: Samsung entering a new market will cause an increase in market growth and its market shares. By adopting this strategy, they enter a new market by targeting new customers in other areas. New market for Samsung could be a new Country or a new City within the same country it is operating in before. Example: Samsung introducing its product in a village or a new country. Task 3.2: The future strategy that our selected organization, Samsung, will adopt is substantive growth strategies. In substantive growth includes vertical integration. Vertical Integration: There are three types of vertical integration, vertical forward integration and vertical backward i ntegration and horizontal integration. 1. Vertical forward integration: Vertical forward integration in a business is when a manufacturer decides to controls distribution or retail store. Samsung will cut themselves off from the wholesalers to sell directly to retailers and then the retailers directly to the customers. Example: Samsung owning retail shop or franchise and sells their product directly. 2. Vertical backward integration: It is a form of integration in which companies controls its suppliers directly. There will be efficiency and cost will be saved. This might cut transportation cost, improve profit margins and make Samsung more competitive. 3. Horizontal integration: Samsung do not follow Horizontal integration Diversification: Other than Samsungà ¢Ã¢â€š ¬Ã¢â€ž ¢s electronics, Samsung also produces unrelated products. Samsung has Samsung heavy Industries, which is 2nd largest shipbuilders. Samsung also has two Construction Company which is 13t h and 36th largest companies which are Samsung engineering and Samsung CT. Samsung also provides services such as Samsung Life Insurance and it is worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s 14 largest companies. TASK 4.1: It is significant whenimplementing strategythat particular guiding principles have been fixed with those persons tasked with building the strategy realism. This is an important implementation matter which will engage duty setting and interactions, what is to be done by whom? At what time? , And with what resources? Actually, how a strategy is implemented will be based on how it was urbanized, therefore it is significant to concentrate on the question of who urbanized the strategy relatively than only who will implement it. For-example, was the strategy urbanized by a fundamental team or was there full meeting? The response to this question will help to form the implementation process. It will be tricky to evaluate development at a afterward phase if no one is answerable fo r the way a strategy is to be carried out. In a small organization, amount of managers will be implicated in the strategyenlargement processbecause of the small size, as an organization grows in size the question of who will execute needs more explanation. It may be essential to train those implicated or there may be an opportunity for extra open conversation, again, this can repeatedly depend on the sort of organization and the management approach. The major actions for strategy implementation should be translated into objectives for each of the major areas of the company; this could be functional, corporate or divisional. These objectives should then be construed into action programs or tasks that have to be undertaken consecutivelyto accomplish them. The meaning of objectives into tasks may be uncomplicated in smaller organizations than for bigger ones. In small organizations, it may be pointless to connect in the complex communication of settled strategies. Those who ha ve discovered the strategic errands throughout the formulation of the strategy may not require prolonged communication throughout accomplishment. For bigger organizations communication will be necessary to à ¢Ã¢â€š ¬Ã¢â‚¬Å" Make sure everyone understands Allocate for any confusion to be set on Communicate the options prepared throughout the strategy assessment period Make sure the organization is appropriately synchronized. Deliberation should also be specified as to how strategy can persist to be implemented in a rapid shifting atmosphere. By the time tasks and objectives have been fixed and communicated the atmosphere may have distorted. As changes take place objectives may turn into unattainable or extra clear-cut depending on the nature of the changes. In these circumstances, it makes minute logic to stick on to objectives urbanized for former situations. Its probable to relate three procedures in this situation à ¢Ã¢â€š ¬Ã¢â‚¬Å" Elasticity of tasks and objectives in a settled vision Empowerment of those contiguous to the ecological changes so they can react rapidly Close up monitoring of those responding to proceedings The reason of such observation is to guarantee that proceedings taken to not rendering the association to pointless risk. Marketing Department: Roles and Responsibilities: Maintain existing clients and magnetize new consumers by assessing their requirements and bearing in mind their purchasing power, buying behaviour, location etc. Reviewing marketing actions with administration to contain strategy review reports, sales analysis and forthcoming promotional plans. Prospecting latest locations for property and reporting on chosen regions or cities and their design, population and transport facilities. Mounting yearly marketing plans with individual departments. To enhance the quantity of sales by analysing the burden of markets. Awareness of the products on sale. Investigating and trailing new products. Finance Department: Roles and Responsibilities: Calculating incoming and outgoing cash flows. Expense of salaries, wages and invoices. Undertaking performance evaluation, budgeting and reporting to administration. Grounding of annual accounts and budgets. Liable for the assortment and distribution of this information. Advising on possible investments. Be in charge of expenses throughout the company. Calculating financial necessities needed to meet up objectives. Both the marketing department and the finance department have a main role in implementing organizations strategy. With exacting gaze at the grocery industry some manufacture will need to be purchased on a daily basis. Marketing will require providing consideration to the sale tempo of fresh manufacture and from that quantifying the effort needed. Sales forecasts will also be a significant part of budgets being created by the finance department as well as concerning to the labour necessary for the HR department. (Ltd., 2013-2014) TASK 4.2: Finance: In order to implement any strategic plan finance is constantly going to be a key resource necessity. A budget can help begin the finance required for the plan and can frequently be controversial. A capital budget will shape part of the procedure of alteration when an organization selects to spend a lot in its apparatus. A departmental budget will be essential to the dissimilar divisions of a company who are combating for their share of organizational resources. A revenue budget is essential when the company is thinking about building finance accessible for administration of new areas of development. All of an organizations programmes, policies and plans will hold financial suggestions hence suspicious financial planningwill be vital in order to profitably implement a strategy. Human Resources: Human Resource planning is one of an organizations most significant resourcing areas and will merely be successful if employees are considered as a key factor by administration. HR planning should be measured in the similar way as investing in latest products, that is, strategically. One of the key rudiments in HR planning is to have a functioning organizational structure. When scheming the structure it is compulsory to distinguish tasks into jobs related with supervisory and management control. Employees planning are also compulsory in order to recognize the variety of structures required in a company along with the quantity of employees needed. Human Resource planning can be based on forecasts and statistics whereas employees planning can be based around mutual planning i.e. If a product is to be phased out and a new product launched then it may be compulsory to enlarge a guidance plan or set up for redundancies, or on the other side recruitment. Materials: In order to carry on operating a company will always need a customary throughput of materials. The management of materials is a complicated matter for a company but is an important resource one. Over the years some special approaches to stock run and inventory have appeared to facilitate with this procedure. It is essential to value the significance of material resources and its special effects on functions. Strategy is as ward on efficient functions as functions are on efficient strategy, this needs a top to bottom incorporated prominence on qualityprinciples within a company. Time: Time similar to every other resource should be due in a sound planned way. When making conclusions about resource utilization to future strategies managers can habitually abandon the significance of time and yet time is of the fundamental nature in strategic implementation. One of the customs of assigning time to ensure that errands are fulfilled to meet a deadline is the à ¢Ã¢â€š ¬Ã‹Å"ABC Analysisà ¢Ã¢â€š ¬Ã¢â€ž ¢ this is a assessment analysis on the utilize of time. In order to meet deadlines managers will focus on the most significant tasks. In a usual day 1 or 2 A tasks will be fulfilled per day, 2 or 3 B tasks can be allocated with some time situate aside for C tasks. The ABC Analysis can be used to ensure that time is owed to meet the strategic objectives of a company in a sound way. (Ltd., 2013-2014) TASK: 4.3 Gantt chart: AGantt chart, generally used inproject management, is one of the trendiest and valuable ways of showing activities (events or tasks) display ed against time. On the left of the chart is a list of the activities and along the top is asuitable time scale. Each activity is represented by abar; the position and length of the bar reflects the start date, duration and end date of the activity. This allows you to see at a glance: What the various activities are When each activity begins and ends How long each activity is scheduled to last Where activities overlap with other activities, and by how much The start and end date of the whole project Tosummarize, a Gantt chart shows you what has to be done (the activities) and when (the schedule). (Gantt.com, 2012) Time period (Days) Activities Day1 2 3 4 5 6 7 8 9 A B C D E F G Task M: The following table is the Critical Path Analysis of Samsung Galaxy S5 Activities Elapsed Time 1 1 2 A 3 3 B 60 4 1 5 10 6 CD 2 7 F 15 8 EG 40 Task D: Issues Faced by a Firm during Implementing Strategy: While implementing a strategy there are several problems that an organization has to face. A few of them are discussed below in details: Problem in Planning for Every Event Separately: As we know that there are different tasks performed in an organization and there are several activities which take place in an organization. Now for each activity different strategy is to be followed accordingly thus, the strategy you want to apply for each and every task over all in an organization would not be the effective one for all activities which might result in lower output or disturbance of organizational activities so, planning for each is a difficult, time consuming and cost occurring task. Adjusting the Plan: As discussed above there is different strategy used for different activities and tasks so by adjusting the plan we mean that, if according to the situation a plan used in one department suits best in any other perfectly then the organization must exchange those plans with each other. Example: For example if an organization has three departments in it Marketing, HR and Finance and they follow plans A,B,C,D,E,F,G,H and I respectively. Now if we notice that plan D of Human Resource fits the best instead of plan G of finance and vice versa then we will exchange these two plans according to their suitable strategies. During implementing these changes we have to face many problems such as to see whether the staff is willing to change their duties or not, whether the timings of both plans match each other or not, whether the employees are satisfied or not, whether we have compatible staff in the other sector or not etc. Adjusting the plan is easy but implementing is tough and it is quiet hard to satisfy each employee with the upcoming plans. Diagrammatical Explanation: A G B H C D I E F Organizing Resources for Operational and Corporate Level: By organizing resources we mean that resources such as HR, Finance, Raw Material etc. need to be identified at each organizational level. This means we have to set a specific amount of budget for each resource. This will help to examine each sectorà ¢Ã¢â€š ¬Ã¢â€ž ¢s resources in a proper way. For example if we have settled down 40% of resources for operational level and 60% for corporate level respectively, now if we see that top level is using 65% of resources this will clearly let us know that something is going wrong and 5% of the bottom level resources are being used by the corporate level. The following diagram will clear the above mentioned scenario accordingly. Diagrammatical Presentation of the Above Scenario: 60% of total resources if 65% is used here 40% of total resources then 35% is left here Conflicts Between Different Levels of Management: Strategy may be affected by decision at the operation level. For example if a decision is made at the corporate level which should be implemented in the organization conflicts may rise. Because probably the plan which corporate level thinks suits best the organization might not be same in the opinion of operational level. Operational level management may face problems regarding finance, faculty or any other issue while implementing the new made strategy. These problems might be raised due to unfriendly behavior or communication gap problems between the top, middle and bottom level managers. Bibliography Gantt.com. (2012). What is a Gantt chart? Retrieved june 15, 2014, from https://www.gantt.com/: https://www.gantt.com/ Ltd., A. A. (2013-2014). The Roles And Responsibilities For Strategic Implementation Commerce Essay. Retrieved june 15, 2014, from https://www.ukessays.com/: https://www.ukessays.com/essays/commerce/the-roles-and-responsibilities-for-strategic-implementation-commerce-essay.php Business strategy Page 1

Analysis Of Wilfred Owen s Poem Dulce Et Decorum Est

Introduction Welcome back to the Poetry and Society unit of the literature topic. We are moving on from last week’s poetry type, American slam and we are now studying Protest and Resistance poetry. The protest poem ‘Dulce et Decorum Est’, written by Wilfred Owen, challenges the dominant World War One ideologies of militarism and nationalism. You will find that this poem is a great example as it defies the dominant values and beliefs of war in Britain. Wilfred Owen Let’s discuss the poet. Wilfred Owen was one of the leading voices of the first world war. In January 1917, Owen was deployed but he was innocent to the realism of war. In April, he sustained shell-shock during active service, which led to his return to Britain. While being†¦show more content†¦His vivid and ghastly narration of war in the trenches exposes the heroic lies and paints a picture of what only frontline soldiers had experienced; the inhumanity, trauma, moral decay, immense loss of life and resulting grief and surprise of war. Poetic Form It appears that Owen has written in iambic pentameter in the form of a sonnet, but the poem deliberately breaks from the conventional poetic form, according to Mika Teachout, to remind us of the subject matter. The poem consists of rhythmic 8, 9 and 10-meter lines but the pattern is broken repeatedly by punctuation to prove a point and to change society s attitudes about war. Owen was not aiming to write a lyrical dance because he was focusing on writing about a scene from war, with dying, agonised men and the chaos caused by gas bombs. Teachout believes that if there is music in Owen s poem, it is a dirge for the dying. Owen succeeded in departing from conventional poetry where poetic techniques were valued more than implicit meaning. Figurative Language A wide variety of figurative language is used to communicate and sometimes emphasise an implicit idea. The term blood-shod is an example of zoomorphism when it is perceived metaphorically. The term could also be visualised literally, with soldiers’ feet being caked with the blood and guts ofShow MoreRelatedWilfred Owen : The Greatest English Poet During The First World War Poem Summary1358 Words   |  6 PagesDulce Et Decorum Est Wilfred Owen Wilfred Owen is recognized as the greatest English poet during the First World War. Wilfred Owen notable poems contains the lives and historical records. He wrote out of his intense personal experience as a soldier and wrote with unrivalled power of the physical, moral and psychological trauma of the First World War. From the early age of nineteen, Wilfred Owen wanted to become a poet and immersed himself in poetry, being specially impressed by KeatsRead MoreThe History of The Old Lie and Poetry of Wilfred Owen2490 Words   |  10 PagesThe History of The Old Lie and Poetry of Wilfred Owen Dulce et Decorum Est Pro Patria Mori is a Latin saying that was expressed by the roman poet Horace. It means It is sweet and fitting to die for your country. When Owen wrote his poetry based on his experience of the Great War he did not agree with this saying; he wrote poetry that was full of horror yet told the truth. Therefore he called this saying the old lie. Owen called it this because war was no longer

Symbolism in Nathaniel Hawthornes Young Goodman Brown Essay

Symbolism in Nathaniel Hawthornes Young Goodman Brown Nathaniel Hawthornes Young Goodman Brown is full of symbolism throughout the story. Perhaps the most interesting examples of symbolism include the title character, Young Goodman Brown, as well as his wife, Faith, and the woods that Young Goodman Brown enters on his journey. Included are many allusions to Christianity and also to evil and sin. These references are expressed mainly through characters and settings in the story. The character Young Goodman Brown is an excellent example of symbolism being used in a story. First of all, the name Young Goodman Brown implies that he is indeed a good man, which is a reference to his Christian faith. This implies that he is a good†¦show more content†¦After he enters the woods, however, he is no longer referred to as Young Goodman Brown, just Goodman Brown, as if the innocence and purity he once possessed is with him no longer. He left his wife, Faith, for sin and impurity in the woods, so he no longer deserves the title Young G oodman Brown. Young Goodman Browns wife, Faith, is also an important symbol in this story. Her name alone implies that she is a symbol for goodness and the Christian life that Young Goodman Brown leaves behind when he departs on his journey. In the story, it says that she calls out to him and he turns his back on her, which can either be taken literally or in the sense of one turning his back on God and Christian life, because he heads for the woods, an implication of sin and witchcraft. In her hair, Faith wears pink ribbons, which are a sign of her innocence and playfulness. When Goodman Brown sees her pink ribbons in her hair, he is aware of her innocence, so when he finds a pink ribbon belonging to her clinging to a tree branch in the woods, he doubts the faith of her and of all those around him. The woods are also an important symbol in the tale of Young Goodman Brown. The story is written in times past, when the woods were thought of as evil places where witchcraft often t ook place. This is reinforced when Goodman Brown sees the townspeople amongst him in the woods, and is appalled to see them, his wife and the preacher included. Also, it is mentioned thatShow MoreRelatedAllegory and Symbolism in Nathaniel Hawthorne’s â€Å"Young Goodman Brown†1203 Words   |  5 PagesNathaniel Hawthorne’s â€Å"Young Goodman Brown† is an excellent example of the use of allegories and symbolism as a form of satire on Puritan faith. According to Frank Preston Stearns, author of The Life and Genius of Nathaniel Hawthorne, â€Å"Hawthorne may have intended this story as an exposure of the inconsistency, and consequent hypocrisy, of Puritanism† (Stearns 181). Throughout the story of â€Å"Young Goodman Brown,† Hawthorne tries to infuse as many symbols and allegories as he can to enhance the overallRead More Symbolism in Nathaniel Hawthornes Young Goodman Brown Essay1278 Words   |  6 PagesSymbolism in Nathaniel Hawthorne s Young Goodman Brown   Ã‚  Ã‚  Ã‚  Ã‚  Nathaniel Hawthorne utilizes symbolism throughout his short story Young Goodman Brown to impact and clarify the theme of good people sometimes doing bad things. Hawthorne uses a variety of light and dark imagery, names, and people to illustrate irony and different translations. Young Goodman Brown is a story about a man who comes to terms with the reality that people are imperfect and flawed and then dies a bitter death from the enlightenmentRead MoreSymbolism In Nathaniel Hawthornes Young Benjamin Goodman Brown995 Words   |  4 Pages12/11/2017 Nathaniel Hawthorne is taken into account to be one in every of the greatest Americas anti-transcendental writers. 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Irony: Even though the mood is relaxing, there is a premonition of something bad to come C. Ending: The ending is implied IV. NATHANIEL HAWTHORNE’S â€Å"YOUNG GOODMAN BROWN† D. SettingRead MoreThe Use of Color Symbolism by Nathaniel Hawthorne Essay1024 Words   |  5 PagesIs it possible for an author to utilize so much symbolism that it captivates the reader to the extent of paralleling the tale with their own life? The principle of symbolism is quite evident in the story by Nathaniel Hawthorne, â€Å"Young Goodman Brown†. Nathaniel Hawthorn’s work is immersed with symbolism with most of it deriving from his Puritan beliefs. The themes of sin, guilt, innocence, and lust come forth through the uses of color symbolism as well as visual clues. All of these things areRead MoreNathaniel Hawthorne s Young Goodman Brown1065 Words   |  5 PagesWhen it comes to the topic of Nathaniel Hawthorne’s Young Goodman Brown, most of us will readily agree that duplicity is a major theme in the piece, or the idea of different versions of reality. Where this agreement usually ends, however, is on the question of whether Hawthorne is imply ing that man is inherently evil. Whereas some are convinced that Young Goodman Brown was good until tainted by the Devil, others maintain that he was evil from the beginning and was completely aware of the evil heRead MoreBiography of Nathaniel Hawthorne1273 Words   |  6 Pageschildren, even the most perfect of families cannot hide their deep, dark secrets forever. Raised as a Puritan, Nathaniel Hawthorne grew up with a devout family intensely immersed in religion. As he matured, Hawthorne discovered that his seemingly pious family was disturbingly flawed, a discovery that would radically change his life. In his short story â€Å"Young Goodman Brown,† Nathaniel Hawthorne’s Puritan family secrets aid in forming symbols of faith and evil and developing the inner complexities of his

Fiduciary and Promoter free essay sample

Co. may sue for damages and breach of fiduciary duty as well as recovery of secret profits made. Law does not forbid the profit or personal interest but only stipulates that full disclosure is made of the same. Disclosure to be made to an Independent board of directors or intended shareholders as a whole. Measure of damages is the actual loss suffered by the company as a result of the transaction 4. Not to make unfair use of the position to avoid anything as this has the appearance of undue influence or fraud. Also, promoter cannot relieve himself of his liability by making provisions for the same in the AoA DUTY AND REMUNERATION OF PROMOTER Promoter must ensure that the prospectus or statement in lieu oF prospectus contains necessary particulars and does not contain any untrue or misleading statements or does not omit any material facts * A promoter has no right to get compensation from company for his services in promoting the company unless there is a contract to that effect * If there is no contract, promoter is not entitled to remuneration in respect of any payment made by him in connection with the co. We will write a custom essay sample on Fiduciary and Promoter or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page formation * Promoter takes remuneration as follows: 1. May sell his own property at a profit to co. for cash or fully paid up shares, provided he discloses the same 2. May be given an option to buy certain no. of shares at par 3. May take commission for shares sold or may be paid lump sum by co. PRE INCORPORATION OR PRELIMINARY CONTRACTS * Promoters usually enter into contracts with 3rd parties for property or supplies prior to the incorporation of the co. * Such contracts called as pre-incorporation or preliminary contracts * Promoters enter into such contracts on behalf of the company about to be formed * Legal position – â€Å" 2 consenting parties are necessary to a contract where as the company, before incorporation is a non –entity† * As such the company is not liable for the acts of its promoters prior to incorporation POSITION OF PROMOTERS IN P/I CONTRACTS . Company not bound by pre-incorporation contracts, even if it takes the benefit of the contract entered into on its behalf Case: English Colonial Produce Co. Ltd, Re A solicitor prepared the MoA AoA of the co. and paid the necessary registration charges for the registration. He was acting on the directions of certain persons who were to become directors of the newly formed company. Held, the company was not liable to pay the costs of the solicitor, although it had taken benefit of his work 2. Company cannot enforce pre-incorporation contracts Case: Natal Land Colonization Co. Ltd V. Pauline Colliery Development Syndicate Ltd. N co. greed with an agent of P co. to grant a mining lease to the syndicate, prior to formation of P. Syndicate registered and discovered a seam of coal. Co. refused to grant the lease. Held, there is no binding contract between company syndicate 3. Promoters personally liable as the contract is deemed to be entered into by promoters personally Case: Kelner V. Baxter A hotel company was about to be formed persons responsible for the new co. signed an agreement on 27th Jan, 1866 for the purchase of stock on behalf of the incorporated company payment was to be made on 28th Jan, 1866. Co. was incorporated on 20th Feb, 1866. Goods were consumed in the business and co. ent into liquidation before the debt was paid. Held, persons signing the agreement were promoters personally liable for their signatures RATIFICATION OF P/I CONTRACT * A Co. cannot ratify a contract entered into by the promoters on its behalf prior to incorporation * Doctrine of ratification applies only when if an agent contracts for a principal in existence competent to contract at the time of contract * If a contract is made on behalf of the co. known to both the parties to be non-existent, the contract is deemed to have been personally entered into by the promoters * Co. can enter into a fresh contract after its incorporation with the other party * If co. akes fresh contract, liability of promoters comes to an end * If co. does not make a fresh contract within a limited time, either of the parties may rescind the contract * Sec. 15 16 of Specific Relief Act – When promoters have entered into p/I contracts for the co. ’s purpose such contract is warranted by the terms of incorporation, specific performance may be obtained or enforced against the company, provided that the company accepts the contract and has communicated such ac ceptance to the other party PROVISIONAL CONTRACTS * Contracts entered into by public Co. s after incorporation but before the issue of the certificate to commence business * Sec. 49 (4) – Any contract made by the company before the date at which it is entitled to commence business shall be provisional only and shall not be binding on the co. until that date and on that date, it shall become binding * If the company is unable to obtain the certificate to commence business, provisional contract lapses automatically * If it gets the certificate, provisional contract is binding on the company automatically. There is no need for ratification * Co. not bound to recognize all contracts between date of incorporation and date of commencement of business * If contract is oppressive, fraudulent or voidable, co. may avoid the same

Growth of Tourism Rate in Hongkong Made by Disneyland free essay sample

As one of the worlds leading  international financial centres,  Hong Kong’s service-oriented economy is characterised by low taxation, near-free port trade and well-established international financial market. The currency, the  Hong Kong dollar, is legally issued by three major international commercial banks, and pegged to the  US Dollar. Interest rates  are determined by the individual banks in Hong Kong to ensure it is  market-driven only  Ã‚  and in Hong Kong  there is no Central Bank nor any financial system similar to the Federal Reserve System in the US  (for more, see  Exchange Bank Association) and foreign investments to the financial market in Hong Kong are supervised and inspected by the  Hong Kong Monetary Authority  when destabilizing factors attempt to hit the financial market of this  Special Administrative Region  of  Peoples Republic of China. Electronic finance trading  Ã‚  is evolutionarily impacting the financial market of Hong Kong. Hong Kong has remained as the worlds  freest economy, according to  Index of Economic Freedom  since the inception of the index in 1995. The economy, governed under  positive non-interventionism, is highly dependent on international trade and finance and in 2009 the real economic growth fell by 2. 8% as a result of the global financial turmoil. Despite the downturn, Hong Kong’s economic strengths, including a sound banking system, virtually no public debt, a strong legal system, ample  foreign exchange reserves, rigorous anti-corruption measures and close ties with the mainland China, enable it to quickly respond to changing circumstances. In terms of international comparison, with the most efficient and corruption-free application procedure, lowest income tax and lowest corporate tax as well as abundant and sustainable government finance that the government of Hong Kong consistently upheld the policy of encouraging (and supporting) activities of private businesses and this is having a sound impact on the overall economic performance by removing unnecessary barriers for the private enterprises in the Special Administrative Region. Hong Kong is a favorable destination especially for international firms and firms from Mainland China to be listed in the  Hong Kong Stock Exchange  from Hong Kongs highly internationalized and modernized  financial industry  along with its  capital market  in Asia, its size, regulations and available financial tools are comparable to London and New York. Hong Kongs  gross domestic product, between 1961 and 1997, has grown 180 times while per capita GDP rose by 87 times. Its  economy size  is slightly bigger than  Israel  and  Ireland  and its  GDP per capita at purchasing power parity  is the 6th highest globally in 2011, more than  United States  and  Netherlandsand slightly lower than the  Brunei. By the late 20th century, Hong Kong was the seventh largest port in the world and second only to  New York  and  Rotterdam  in terms of container throughput. Hong Kong is a full Member of  World Trade Organization. The Kwai Chung container complex was the largest in Asia; while Hong Kong shipping owners were second only to those of  Greece  in terms of total tonnage holdings in the world. The  Hong Kong Stock Exchange  is the  5th largest  in the world, with a  market capitalisationof about  US$2. 63 trillion. Hong Kong has also had an abundant supply of labour from the region nearby. A skilled labour force coupled with the adoption of modern British/Western business methods and technology ensured that opportunities for external trade, investment, and recruitment were maximised. Prices and wages in Hong Kong are (relatively) flexible depending on the performance and stability of the economy of Hong Kong. Taxation in Hong Kong  raises revenues from the sale and  taxation of land  and taxes on the accumulative overall economic growth but not engaged directly in industry and commerce as well as individual(s) for its revenue of  public finance  due to its low tax policy. From its revenues, the government with the policy-making ofExecutive Council of Hong Kong  under jurisdiction of  Hong Kong Basic Law  has built roads, schools, hospitals, and other public infrastructure facilities and services. It has also operated a welfare insurance scheme. This paper will analyze Hong Kong Disneyland that was built y Disney in conjunction with the Hong Kong government. The local culture of the people of Hong Kong and how it is related to the operation of business especially the tourism industry, which Disneyland will fall under, will be closely examined. The author chose Hong Kong Disneyland, a theme park built and operated by a new-joint venture, between the Government of Hong Kong and the Walt Disney Company. In this report the author uses Disney as the subject of the paper as it is a new business venture in the tourism industry in Hong Kong. Disney started its business in Hong Kong since September 12th 2005 therefore evaluations and analysis are still in their early stages. This report will give a brief background of Disney and will then go on to analyze the various methods for strategic analysis to examine the culture. The paper will use some cultural theories in order to provide a comprehensive background as to the cross cultural awareness of the company with the culture of a state. Hong Kong Disneyland  is located on  reclaimed land  in Pennys Bay,  Lantau Island. It is the first  theme park  located inside the  Hong Kong Disneyland Resort  and is owned and managed by the  Hong Kong International Theme Parks. The park opened to visitors on 12 September 2005. Disney attempted to avoid problems of cultural backlash by attempting to incorporate  Chinese culture, customs, and traditions when designing and building the resort, including adherence to the rules of  feng shui. For instance, a bend was put in a walkway near the Hong Kong Disneyland Resort entrance so good  qi  energy wouldnt flow into the South China Sea.