Education Timeline

History of American Education Timeline Antiria Jenkins HIS324: History of American Education Instructor: Timothy Kilgore November 12, 2012 http://prezi. com/vcesi_y4xome/history-of-american-education-timeline/ Education in the United States has faced great changes toward development in the past hundreds of years. At the beginning, during the Colonial Era, the principles of education were mainly based on those already used by European nations at the time.However, the country began to adopt its own approaches toward teachings given different social, political and religious practices (Rippa 9). 1635The first Latin Grammar School (Boston Latin School): Founded on April 23, 1635, in Boston, Massachusetts, it is known as the first public school and oldest existing school in the United States. The Latin grammar curriculum was designed for boys 8 to 15, based on European Schools in a Puritan area. Schools were to prepare boys for college and the service of God.Protestantism believed that edu cation was needed so that individuals could interpret the bible. 1751American Academy founded by Ben Franklin: The demand of skilled workers in the middle of the eighteenth century led Benjamin Franklin to start a new kind of secondary school, thus, the American Academy was established in Philadelphia. American high schools eventually replaced Latin grammar schools. Curriculum was geared to prepare students for employment. Academies eventually replaced the Latin Grammar Schools and some admitted Women. 783Introduction of Noah Webster’s Speller: Noah Webster published the A grammatical Institute of the English language, also known as, â€Å"the blue-back speller. † This was the most widely circulated of the early American textbooks and like Webster’s American Dictionary it strived to establish a national identity as well as the United States’ linguistic and cultural independence of England. As the first popular American textbook, the introduction of Noah W ebster’s speller stands as a significant event in the history of American education. 817(April 15, 1817) Connecticut Asylum for the Education and Instruction of Deaf and Dumb Persons: The Connecticut Asylum at Hartford for the Instruction of Deaf and Dumb Persons opens. It is the first permanent school for the deaf in the U. S. Thomas Hopkins Gallaudet and Laurent Clerc are the school's co-founders. In 1864, Thomas Gallaudet's son, Edward Miner Gallaudet, helps to start Gallaudet University, the first college specifically for deaf students. 824First State-Supported School Established: Originally named the Boston English Classical School and established in 1821, the school was renamed the English High School in 1824 and also, during that year, became the first-state supported common school. The adoption of the English High as a state-supported common school is a significant event in the history of American education as it was, essentially, the first public school. 1855Abolitio n of Segregation of Schools in Massachusetts: Following the case of Roberts v.Boston, the state of Massachusetts abolished segregation in their schools. The victory would be the first in a long battle lasting nearly an entire century. This was the first law to oppose segregated schools in the United States and is, therefore, a significant event in the history of American education. 1856The First Kindergarten: In the United States Margarethe Schurz founded the first kindergarten in Watertown, Wisconsin, in 1856. Her German-language kindergarten impressed Elizabeth Peabody, who opened the first American English-language kindergarten in Boston in 1860.The kindergarten was much more influential in the United States and in the northern part of Europe which encouraged the National Education Association to begin a kindergarten department in 1874, and later, teachers founded the International Kindergarten Union in 1892. 1896The Laboratory School of the University of Chicago (First Progressi ve Laboratory):John Dewey, the father of the progressive education, established the first laboratory school for testing the progressive educational method. This would lead to a popular trend in education adopted by schools during the first half of the twentieth century.Progressive education emphasizes cultivation of problem solving and critical thinking skills through hands-on learning activities. 1905 Carnegie Foundation for the Advancement of Teaching: Founded by Andrew Carnegie in 1905 and chartered in 1906 by an act of Congress, the Carnegie Foundation for the Advancement of Teaching is an independent policy and research center. The Foundation encouraged the adoption of a standard system for equating â€Å"seat time† (the amount of time spent in a class) to high school credits which is still in use today. This system is known as the â€Å"Carnegie Unit. 1939 The Wechsler Adult Intelligence Scale (first called the Wechsler- Bellevue Intelligence Scale): This scale was dev eloped by David Wechsler and is intended to measure human intelligence reflected in both verbal and performance abilities. It introduces the concept of the â€Å"deviation IQ,† which calculates IQ scores based on how far subjects' scores differ (or deviate) from the average (mean) score of others who are the same age, rather than calculating them with the ratio (MA/CA multiplied by 100) system. Wechsler intelligence tests, particularly the Wechsler Intelligence Scale for Children, are still widely used in U.S. schools to help identify students needing special education. 1944 The Servicemen's Readjustment Act of 1944 (GI Bill of Rights): Bill signed into law on June 22, 1944 by President Franklin Roosevelt during World War II. The GI Bill affords military veterans government funding to pursue or continue educational goals following their service. The GI Bill not only compensates veterans for their service, but has also been responsible for the growth of American colleges and u niversities. 1954 Brown v. Board of Education of Topeka: On May 17, 1954, The U. S. Supreme court ruled in Brown v.Board of Education that separate schools did not provide equal education to students and therefore banned the segregation of schools nationwide with a ruling of (9–0) decision stated that separate educational facilities are inherently unequal and declared unconstitutional. 1958 Defense Education Act of 1958: The Defense Education Act of 1958 was signed into law on September 2, 1958 by the United States government during the cold war in reaction to the successful launch of the Soviet satellite Sputnik. The Soviets’ scientific success motivated the U. S. government to fund the U.S. Office of Education’s establishment of scientifically and mathematically centered curriculum. The act contained ten titles designed to improve the nation's schools. 1964 Civil Rights Act of 1964: The Civil Rights Act of 1964 signed on July 2, 1964 by President Lyndon B. Joh nson banned discrimination in all federally funded programs and outlawed major forms of discrimination against racial, ethnic, national and religious minorities, and women. This law helped to further the ruling of Brown v. Board of Education as many schools had continued segregation.The Civil Rights Act of 1964 financially, â€Å"cut-off,† institutions, such as public schools, which promoted discrimination of any and all types and gave leverage to the movement. 1965 The Elementary and Secondary Education Act (ESEA): The Elementary and Secondary Education Act (ESEA) was passed on April 9, 1965 s a part of the â€Å"War on Poverty. † It emphasizes equal access to education and establishes high standards and accountability as well as provides federal funds to help low-income students, which results in the initiation of educational programs such as Title I and bilingual education. 965 The Higher Education Act: The Higher Education Act was signed on November 8, 1965 to stre ngthen the educational resources of colleges and universities and to provide financial assistance for students in postsecondary and higher education. It increased federal money given to universities, created scholarships, gave low-interest loans for students, and established a National Teachers Corps. 1965 Project Head Start: The Head Start program started in the summer of 1965 as an eight week summer program for children from low-income communities going into public school in the fall (Styfco and Zigler, 2003).The program provided preschool classes, medical care, dental care, and mental health services (Kagan, 2002). 1975Education for All Handicapped Children Act now known as The Individuals with Disabilities Education Act (IDEA): requires public schools to make available to all eligible children with disabilities a free appropriate public education in the least restrictive environment appropriate to their individual needs and requires public school systems to develop appropriate I ndividualized Education Programs (IEP's) for each child which will reflect the individualized needs of each student. 002 The No Child Left Behind Act: On January 8, 2002, NCLB was signed into law. NCLB supports standards-based education reform based on the premise that setting high standards and establishing measurable goals can improve individual outcomes in education. The Act requires states to develop assessments in basic skills. States must give these assessments to all students at select grade levels in order to receive federal school funding. All students are required to meet the standards establish by NCLB at the accountability of educators. 2004 H. R. 350, The Individuals with Disabilities Improvement Act (IDEA 2004): reauthorizes and modifies IDEA. Changes, which take effect on July 1, 2005, include modifications in the IEP process and procedural safeguards, increased authority for school personnel in special education placement decisions, and alignment of IDEA with the No Child Left Behind Act. The 2004 reauthorization also requires school districts to use the Response to Intervention (RTI) approach as a means for the early identification of students at risk for specific learning disabilities.RTI provides a three-tiered model for screening, monitoring, and providing increasing degrees of intervention using â€Å"research-based instruction† with the overall goal of reducing the need for special education services (Re-authorization, 2004). The history of education has been influenced multiple times over the past years. In some shape, form, or fashion, the many changes have affected many lives, especially those with disabilities.Going from segregation to desegregation, women involvement in education and fighting for equal education of those individuals with disabilities has not only marked historical events but has brought togetherness among all races and genders. Without these historical events in shaping education, the world would be at a stand still. References Dewey, John. 1938 (1963). Experience and Education. New York: Collier Books Kagan, J. (2002). Empowerment and education: Civil rights, expert-advocates, and parent politics in Head Start, 1964-1980.Teachers College Record, 104(3), 516-562. Re-authorization of the IDEA 2004. Retrieved November 5, 2012 from http://www. nj. gov/education/specialed/idea/reauth/ Rippa, Alexander. Education in a Free Society. Eighth Edition. New York: Longman, 1997. 3-107. Print. Styfco, S. , & Zigler, E. (2003). Early Childhood Programs for a New Century. Reynolds, A. , & Wang, M. (Eds. ) The federal commitment to preschool education: Lessons from and for Head Start (pp. 3-33). Washington, D. C. : Child Welfare League of America, Inc.

Introducing an East World to a West World Essay

On June 26, 1982, Pearl Sydenstricker was born in Hillsboro West Virginia, to two American Presbyterian missionaries who primarily served in China (â€Å"Buck, Pearl S.†). At the age of two, Buck and her family moved back to China where she spent the next 6 years of her life adapting the Chinese culture while integrating aspects of her American heritage as well. Buck’s childhood in China stimulated the bicultural traits that she infused into her writing by exemplifying both American and Chinese culture and values. At 15, Buck was sent to a boarding school in Shanghai and continued her schooling at the Randolph Macon Woman’s College in Lynchburg Virginia, where she graduated in 1914 and taught psychology. Later on she finished her schooling at Cornell University receiving a Master of Arts Degree. Buck also taught English at several universities throughout her career including the University of Nanking, Chung Yang University, and Southeastern University (â€Å"Works of Pearl Buck†). A notable historic event that impacted Buck’s life and her writing was the Boxer Rebellion (â€Å"Works of Pearl Buck†). The boxers were a group of Chinese people who opposed the spread of Western ideas and technology and convinced the empress to drive out all foreigners in China in order to sustain China’s ancient culture and history. Despite the empress’ support for the arising Western influence, the Boxers lashed out by imprisoning the empress and stimulating the attacks on foreigners. This ultimately caused Buck’s family to flee from China back to America in order to escape the rebellions plotted against foreigners (â€Å"A Life Lived in Interesting Times†). Buck also witnessed the foot-binding and murder of female babies in China due to the patriarchal nature that was indigenous to the Chinese culture. This influenced her to become an advocate for woman’s rights and her experience with the Boxer Rebellion profoundly affected her perspective for equality and the political barriers that seemed to separate the values of the West and Asia which was reflected in the various themes she covered. Throughout her life Buck was an outspoken feminist and equalist. She displayed her advocacy by supporting various organizations who strived for equality, promoting birth control, and even adopting nine children. (â€Å"Pearl S. Buck: A Cultural Biography†). She married John L. Buck, and they had one daughter who was mentally disabled. Her daughter’s disability motivated her to support children’s advocacy which inspired her to write â€Å"The Child Who Never Grew† in 1950. It also led her to establish the Pearl S. Buck foundation which strives to assist in the adoption and well-being of Amerasian children. However, her and her husband divorced in 1935 and she soon married Richard J. Walsh, her publisher who she stayed married to until the end of her life (â€Å"Buck, Pearl S.†). Pearl Buck was known for her works such as Dragon Seed which focuses on a female empress named Tzu Hsi who was faced with ruling China during a period of war. Some of her works also reflect her lifestyle that was influenced by two entirely different cultures. Buck’s memoir My Several Worlds tells about her long journey growing up in an environment of political struggle and internal warfare between her own people when her and her family was outcasted by the Chinese as foreigners. It tells about her career as an influential writer, an ambassador, and civil rights activist with her motives defined by the countless experiences of her life. Her most notable title which earned her a Pulitzer Prize and a Noble Prize in Literature was The Good Earth. The book tells of a poor farmer named Wang Lung and his wife who struggle with the changes that war and a corrupted government have brought upon the nation such as famine and poverty. This theme of personal obstacles can most likely relate to Buck’s audience when the book was published in 1931: the many Americans who struggled with the shifting politics and economy during the Great Depression (â€Å"The Good Earth, 1931,† The American Novel†). Buck’s work conveys the complexity of Chinese culture and life to America based off her experience growing up in a bicultural environment (â€Å"The Good Earth,† Barnes and Noble). Buck’s work can best be categorized by the movement of Realism because of the reality that she tries to depict in order to relate the hardships that both the Chinese and Americans share. Realism mainly focused on portraying average experiences and it transitioned after the movement of Romance. It is thought to be known as â€Å"the faithful representation of reality† (â€Å"Realism in American Literature, 1860-1890†). The realist nature of her books forged a connection through the similarities in lifestyle and adversities that the Americans shared with the people of China (â€Å"1860s-1900s Realism,† PBS). She aimed to depict the daily lives of the civilians of China through her characters’ lifestyles that gave an insight of life shrouded by Chinese culture and beliefs. Her ability to express the personal struggles of both the upper, middle, and lower class allowed her to convey the theme of cumulative struggles and experiences of a country as a whole. Pearl Buck’s main purpose for her writing was to link the alien and foreign culture of China to the people of America who were clueless to the cultural values that China imposed (The American Novel). She delivered with a style that precisely aimed to reveal the plain and blunt truth of life, no matter what social class a person belonged to. The works of Pearl Buck have left a lasting impact on both America and China. She created countless milestones in literature such as being one of the first women ever to receive a Noble Prize in Literature and a Pulitzer Prize, and acting as a mediator and uniting the two cultures of America and China through the various situations that she presents of life in China through her characters and various stories. I think that the reason she has left such a profound mark on literature is because of her ability to establish a connection with the audience. Being bi-cultural, Buck utilizes her first-hand experiences of life in China such as war, famine, and even traumatic murder experiences in order to fully convey the events that were occurring in China with the Great Depression of the United States. What makes her writing and themes so universal is that, it portrays the life experiences of people, with personal struggles and I think her themes have the capability to relate to any time period because everyone is able to relate to the hardships of others. Her ability to successfully connect with her audience on a personal level of experience with a completely foreign culture establishes her as one of the most impactful authors in literature in which modern-day writers aspire to achieve. â€Å"Buck’s Accomplishments have proven unique in military, political and literary history† (Taylor). Some even think that â€Å"We are very much in need of a twenty- first century Pearl Buck† (â€Å"A Life Lived in Interesting Times†). This further demonstrates the lasting influence that Buck’s literary work left during her time period, which some believe that â€Å"no one will ever be able to do again† (Taylor). Unfortunately, Pearl Buck died on March 6, 1973 of lung cancer at her home in Danby, Vermont (â€Å"Pearl S. Buck Biography†). Her work continues to live and is enjoyed by people all over the world today. Her deeds as an activist who strived for fairness among people and cultures are survived by the many people who are influenced by her contributions toward equality. She is recognized as a prominent author because of the major impact that she worked towards her whole life so that America would be able to share a culture and history with China. Despite her death, Buck has left her mark as a humanitarian and advocate who had the best interests of people in mind and a legendary writer who brought to America, a style of writing that will remain timeless in practically every age of literature. Works Cited Allen, Brooke. â€Å"A Life Lived in Interesting Times.† Hudson Review 3. 2010. eLibrary. Web. 12 Nov. 2012. â€Å"Buck, Pearl S.† Compton’s by Britannica, v 6.0. 2009. eLibrary. Web. 12 Nov. 2012. Campbell, Donna M. â€Å"Realism in American Literature.† Realism in American Literature. Department of English, Washington State University, 8 Sept. 2011. Web. 21 Dec. 2012. Frenz, Horst. â€Å"Pearl Buck- Biography.† Noble Prize. The Noble Foundation. Web. 12 Dec. 2012. Matterson, Stephen. â€Å"1860s-1900s Realism.† PBS. Educational Broadcasting Corporation, Mar. 2007. Web. 12 Dec. 2012. â€Å"Pearl S. Buck Biography.† Bio.com. A&E Networks Television. Web. 12 Dec. 2012. Taylor, Peter Shawn. â€Å"Pearl Buck to Pearl Harbor; How a much-loved novel won over Depression-era readers, erased Chinese stereotypes and helped bring war to the Pacific.† National Post. 15 Oct. 2012. eLibrary. Web. 12 Nov. 2012. â€Å"The Good Earth.† Barnes & Noble. Web. 12 Dec. 2012 â€Å"The Good Earth, 1931.† PBS. American Masters , The American Novel. Web. 21 Dec. 2012. White, Barbara. â€Å"Book Reviews: Pearl S. Buck: A Cultural Biography.† Contemporary Women’s Issues Database. 01 Jun. 1997. eLibrary. Web. 12 Nov. 2012. â€Å"Works of Pearl Buck: Pearl Buck.† MacMillan General Reference, 1963. eLibrary. Web. 12 Nov. 2012.

Was Bismarck’s Foreign Policy 1871-90 a Success

The Aim of this essay is to study Bismarck's Foreign Policy from 1871-90 and come to a conclusion about whether it was a success. Otto Von Bismarck born on April 1, 1815 at Schonhausen and considered the founder of the German Empire. From 1862 to 1873 Bismarck was prime minister of Prussia and from 1871 to 1890 he was Germany's first Chancellor. Once Germany was unified, Bismarck noticed that Germany was under threat of attack from other countries surrounding it. Bismarck primarily wanted to avoid any challenges against the new European order and to unite the new German state, which faced domestic opposition and great suspicion from the rest of Europe Bismarck wanted to do this, rather than seek further territory or fight more wars, which would put Germany’s unified country under a lot of pressure. Furthermore, France wanted revenge and therefore, Bismarck knew she had to be isolated. Part of Bismarck's foreign policy in which he was successful in achieving was the weakening and isolation of France. The former objective was attained by the peace settlement imposed on France by the Treaty of Frankfurt, which included a large war indemnity. The five main powers in Europe were Great Britain, Russia, France, Austria- Hungary and Germany. Bismarck knew that to isolate France, he would have to form an alliance with at least two of them. Firstly, Bismarck knew that Britain would not present Bismarck with any problems as it was more concerned with its own empire than with the rest of Europe. Also, Britain was more pro-German than pro-French and therefore wouldn’t protest at the isolation. Therefore in fear of a future two-fronted war, Bismarck managed to bring Germany, Austria Hungary and Russia together to form the Dreikaiserbund also known as the league of 3 emperors, in 1872/3. The aim of this alliance was to maintain existing borders in Europe Fight and fight both socialism & republicanism, effectively slowly isolating France. This Alliance was going well between countries and serving its purpose until there was a war scare in 1875. Bismarck had previous convictions about France’s financial situation and he thought it would be an extremely long amount of time before France could pay back the war's indemnity. However, France managed to recover quickly and German troops were forced to leave France, scaring Bismarck and fueling Rumors of a war between Germany and France. Austria-Hungary and Britain greatly disapproved of a war between these 2 countries. This put immense amount of pressure on Bismarck and he was forced to drop his ideas about isolating France until he knew that France would no longer have reasons to attack Germany. Another reason that the Dreikaiserbund was not a success was the Russo – Turkish War in which Russia was victorious in. this caused a treaty in Bulgaria to be enlarged. This did not please Britain and Austria Hungary and soon Russia, Germany, Austria Hungary and Britain were locked in diplomatic arguments. The â€Å"Congress of Berlin† left Russia very disappointed especially at Bismarck’s role (Bulgaria was divided into three small states), Russia withdrew from the Dreikaiserbund. This resulted in the fall of the Dreikaiserbund, because of the impossibility to renew it with Russia not involved and therefore showing that the Dreikaiserbund was a failure which weakened Germany's control over their foreign policies. In 1879, the Dual Alliance between Austria and Germany was formed. This was definitely a success for Bismarck. Austria and Germany agreed that if either one of them was attacked by Russia, the other will provide military support. They also decided that if either was attacked by any other European country, then the other would be neutral throughout any conflicts that resulted. Although the treaty itself was made public, the terms were kept secret. This treaty was renewed every five years until 1914. This alliance was such a success for Bismarck, chiefly because he managed to maintain a permanent ally in case of any war that Germany would be involved in. Soon after the Dual Alliance in 1881, Bismarck understood that he needed to rekindle relations with Russia and therefore created a renewal of the Dreikaiserbund. Bismarck hoped that this agreement would help to reduce tensions between Austria and Russia in the Balkans. It was agreed that the Western Balkans would be dominated by the Austrians and the Eastern half by the Russians. This was a success at the beginning because, again, Bismarck managed to keep on the right side of every country with all the alliances and this one benefitted every county involved. However, events in the Balkans were to disrupt Bismarck’s aims. Between 1885 and 1887 the Bulgarian crisis saw relations between Austria and Russia deteriorate. Moreover, worryingly there was a lot of pro French feeling in Russia. In 1887 the Dreikaiserbund ended as Russia made it clear she would sign no further agreement with Austria. However, in 1882, Bismarck created the triple alliance. This was an alliance of peace and friendship and was an extension of the Austro-German Dual Alliance to include Italy. Under the provisions of this treaty, Germany and Austria-Hungary promised to assist Italy if she were attacked by France, and vice versa: Italy was bound to lend aid to Germany or Austria-Hungary if France declared war against either. Moreover, if one of the countries should find themselves at war the others would provide assistance. However, this alliance did not have the same security and the Dreikaiserbund seeing as Italy is only considered â€Å"half† a European power. Moreover, Italy specified in the treaty that it could not be called upon to go into war with Britain. These were successes in the short term as Bismarck achieved his goals of allying with two other great powers and also kept them happy. Soon after, a re-insurance treaty was introduced due to the Austro-Russian rivalry over Bulgaria leading to the collapse of the Second Three Emperors' League. The reinsurance treaty meant that Russia and Germany would be neutral unless Russia attacked Austria Hungary or Germany attacked France. By creating this treaty, Bismarck had been able to prevent his nightmare – a two front war, from being realized. However, peace did not mean security, and so neither the re-insurance treaty nor the triple alliance can be considered as a long-term success. Throughout the years there was extreme Austro-Russian rivalry over Bulgaria According to the terms of the Second Three Emperors' League, Bulgaria was recognized as a Russian sphere of influence The Bulgarians were experiencing an awakening of national self consciousness and did not want to be dominated by the Russians. In 1885, in defiance of the Treaty of Berlin, the Bulgarians united Bulgaria with Eastern Rumelia. Russia objected to the emergence of a large anti-Russian state but Austria and Britain gave their recognition to the union of Bulgaria with Eastern Rumelia. Russia hated the Austrians for breaking the terms of the Second Three Emperors League and allowed the League to lapse in 1887. A large indication on how successful Bismarck's wereimportnatf ecn dncgreat reat foreign policies were would be the fact that once Bismarck resigned, Germany's foreign relations immediately began to fall apart. Bismarck successfully guarded Germany. In 1890, Bismarck wanted to renew the Re-Insurance Treaty; Russia was also keen on doing so. The Kaiser was against renewing the Re-Insurance Treaty because he believed he could rely on his own personal relations (he had a close relationship with the tsar, owing to them being cousins). Bismarck offered his resignation, due to his frustration and the Kaiser accepted it, but prevented him from publishing his reasons for dismissal. In 1891 there was an informal agreement between the Russians the French and French ministers visited Russia and in 1893 they formed a complete military alliance, an extremely dangerous move against Germany, and one which they would regret. In conclusion, I believe that to a certain extent Bismarck’s Foreign policy from 1871-90 was a success. For example, The Dual alliance between Austria and Germany In 1879, this alliance was such a success for Bismarck, chiefly because he managed to maintain a permanent ally in case of any war that Germany would be involved in. It seemed that Bismarck’s goal in achieving the weakening of France and isolating it was well achieved in his time. Even when it seems that his plans are failing, he finds a way around that; for example the re-insurance treaty. However, to a certain extent Bismarck’s Foreign policy from 1871-90 was not a success shown in the collapse of both Dreikaiserbund. Moreover many could argue that if one was to look at things in the long term, Bismarck was in fact not successful at all in his foreign policies.

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NUCOR Case Study - Research Paper Example Most importantly, the company should consider going global in order to exploit emerging opportunities with globalization. 1.4 Recommendations: The most commendable action is for the company to go global. This will diversify its operations by establishing business across the world markets. It is also a better hub within which its technological aspects can be fully put to use, thereby enhancing its competitiveness against rival firms and cheap imports. 1.5 Implementation: Plan implementation by Nucor has to identify market and industry gaps, and then take advantage of the situation. This may require the company to reevaluate its strategic and long term planning, and assess both financial and non-financial implications of the operational decisions made. This is more so in relation to acquisition of firms, self-development, product and brand development. The U.S steel industry has become significantly competitive as the number of operating firms increase. Foreign firms continue to dump low-cost steel in the U.S markets, thereby affecting the operations of domestic firms, and most importantly those of Nucor. Nucor has had to compete against low-cost steel imports in the U.S, as China, Russia, Brazil, and India continue to dump their steel in the U.S markets. The analysis of the U.S steel industry and the subsequent position held by Nucor in that industry are based on Porter’s five forces model. Nucor’s integration of this model into its operations can be summarized by the figure below: Competition in the U.S steel industry is intense and characterized by both domestic and foreign firms (Thompson 214). Foreign firms compete with the domestic firms on the basis of supplying steel imports to the United States. Nucor engages Mittal Steel and U.S Steel in stiff competition since all the three firms are set up in the United States. In other words, the two companies are the key

Arabs' Generosity and Hospitality in the Arabian Peninsula Essay

Arabs' Generosity and Hospitality in the Arabian Peninsula - Essay Example Another major reason of the extreme generosity and hospitality of the Arabs is that they are encouraged by their religion to be that way. The influence on Islam on the culture of the Arabs cannot be overemphasized. This is evident from almost all good behaviors displayed by the Arabs. For example, the Arabs of the Arabian Peninsula frequently make use of these words in their everyday conversation with one another; inshaAllah and mashaAllah, which mean â€Å"if Allah wills so† and â€Å"as Allah has willed† respectively. Islam is the religion of a vast majority of Arabs in the Arabian Peninsula. Islam places immense emphasis on the hospitality of guests and encourages its followers to be highly generous to others. Prophet Muhammad (P.B.U.H.) said, â€Å"Nothing shall ensure the welfare (and interests) of your religion except generosity and good disposition† (ezsoftech.com, 2011). This is the reason why Islam has a well-defined system of Zakat i.e. charity. While p aying Zakat is obligatory upon every Muslim who has assets or money above a certain limit, Islam also encourages its followers to pay more than just Zakat from what they have to the deserving; known as Sadqa in Islam. Allah says, â€Å"Take alms from their wealth in order to purify them and sanctify them with it, and invoke Allah for them† (9:103 cited in Jabir al-Jaza'iry, 2013). In addition to Zakat and Sadqa, gift-giving is a very popular practice and tradition of Islam. Islam encourages its followers to exchange gifts with one another because it promotes love between them and causes the animosity to recede. It is important to note here that Islam has defined particular standards for gift-giving. Islam encourages its followers to give the same thing to others as gifts that they would choose... It is evident from the study that the Arabs consider being generous and hospitable a matter of honor and feel obliged to display it toward others as if it is a sacred duty that they have to perform. Arabs think of it more as an obligation and cultural duty to be generous and hospitable to each other as well as outsiders than simply a behavior. That is why they are famous for generosity and hospitality. Three main reasons of their generosity and hospitality are their centuries of living and trade in the deserts that made them extremely dependent upon one another, the teachings of Islam that place immense emphasis on the display of generosity and hospitality toward others, and the homogeneity of the culture and demographics of the Arab countries in the Arabian Peninsula. Islam is the religion of a vast majority of the Arabs in the Arabian Peninsula, and its impact and influence of the culture of the countries in the Arabian Peninsula is immense. The extreme generosity and hospitality o f the Arab people makes the foreigners feel like at home in the Arab countries. This has benefited both the Arabs and the foreigners as millions of foreigners are employed in the Arab countries and are contributing to the development and prosperity of the Arab countries. Both nationally and internationally, the Arab countries of the Arabian Peninsula have adopted the policies of generosity and hospitality which has helped them foster good relations with other countries of the world.

U.S. intellectual history since 1877 Essay Example | Topics and Well Written Essays - 1250 words

U.S. intellectual history since 1877 - Essay Example Reinhold Niebuhr suggests there is a persistent flaw in modern American thought that underestimates the power of evil and predatory self-interest. In this way he finds that American liberalism is limited. Dr. Martin Luther King and Allen Ginsburg show how American liberal and progressive thought was challenged, renewed, and expanded as understood through the insights of Reinhold Niebuhr. Yet Malcolm X was almost defeated by the human flaws of which Niebuhr writes, and the writers of the Port Huron Declaration went too far in accepting methods of the children of the darkness as explained by Niebuhr. In his Letter from a Birmingham Jail which he wrote April 16, 1963, Dr. Martin Luther King rooted his thoughts to a tradition of philosophers and theologians, including Niebuhr. King expressed how difficult it was to get privileged groups to change. He wrote, â€Å". . . as Reinhold Niebuhr has reminded us, groups tend to be more immoral than individuals.†Niebuhr felt that liberalis m essentially lied to itself. Dr. King could see this. Bourgeoisie society, in the south had advanced because of those lies. Niebuhr identifies the ugly powers of self-interest as pulling the chords of individuals outside any real beliefs in community. The morality that the racist South put forward was a cynical one. It was one that could not stand true from the way it dealt with black people. But the point is that this was not merely a feature of the South. As long as the segregation policies existed it was also a feature of the entire country. Hence, from Niebuhr's view, democracy did not have any adequate cultural base. It had one that was built on a house of hate. This is why Dr. King's letter was important. Building on a principle of progressive liberalism in action, King's letter extended the cultural base of the country with some honest truths. One of these truths reflects the human flaw that Niebuhr saw in man. In this letter Dr. King noted this as the inner conflict of man. He explained that he had been disappointed with his Christian and Jewish brothers. He pointed out how they allowed a "negative peace" to exist in the absence of justice. In a way this is similar to Niebuhr's thought of 'the children of light' who, in this case, were somehow led to believe that the progress of black people, according to Southern standards, was okay. Drawing further from Niebuhr, it is possible to say that Southern racism reflected an order that was cynical on the top, and laid upon Niebuhr's "perils of chaos". Dr. King pointed to this chaos. He pointed to it in the white church and its leadership. He made some exceptions. But what stood out were the members of the white religious establishment that opposed the civil rights movement Dr. King led. Dr. King was actually forging the cultural revolution that exemplified an expression of Niebuhr's ideas. It was a revolution that pursued unity while expressing a freedom and participation of formally denied people into a sy stem of democracy. In the active outplay of the Civil Rights Movement, Dr. King led black and white forces to demonstrate how it was possible for America to reflect a real culture of community. That was what King sought and what, while he was living, did. Dr. King stood as the leader who influenced thought and action. There is also a way in which an artist, who has freed his or herself from the limiting confines of human prejudice and self-interest, may also illustrate some of the themes of Niebuhr. Allen Ginsberg is one of these artists. Allen Ginsberg was one of the main poets during the beat generation. He was also a public homosexual during the 1950s when homosexuality was illegal. Ginsberg was at the extreme end of the poets in that he criticized a lot about American society that Niebuhr criticized. Niebuhr, being a Christian, would probably not accept Ginsberg extreme view of homosexuality. But maybe he could have. The important thing is that Ginsberg in his poetry, especially 'Howl', attempted to turn America upside down and look into her. In order to do this all the

Global Warming Affects Biodiversity Essay Example for Free

Global Warming Affects Biodiversity Essay There has always been a link between climate change and biodiversity. As the climate changes, the animals in the affected areas have to either adjust or leave. Although climate changes have been occurring throughout history, the rapid climate changes of today are resulting in species not being able to adapt quickly enough and undergoing species loss. Some species may adapt well to the climate changes such as an increase in bugs and pests, but others, such as Arctic animals are being forced away from their homes as the glaciers that they live on melt and break away. The Arctic and areas that are in higher latitudes have a higher rate of warming and this pattern is expected to continue as climates everywhere changes and temperatures go up. As Earth warms up, the glaciers in the Arctic start to melt, and species such as the polar bear and the arctic fox that depend on the sea ice, will start to disappear and only be available for viewing in places such as zoos. The polar bear and the arctic fox are not just the only species that will be affected. The fish, birds, marine mammals, and even the algae that grows on the undersides of the glaciers will be severely impacted as the ice melts and eventually disappears all together. The climate changes do strictly impact the Arctic, but the whole world. As ice melts in the Arctic, the temperature in seas and oceans change and the salt levels change which affects the reproduction of marine species. Once this happens, Alaskan fish will be a delicacy only available for the rich and special. Also once the all the sea ice melts, the water levels will rise and much of the land bordering oceans and seas will be covered and people will be forced to relocate and adjust, just like the Arctic animals. The change in ecosystems all over the world will result in loss of food sources, jobs, natural resources, and some natural pharmaceutical products. Rising temperatures will also affect the health of humans by exposing them to more forms of disease. Cold temperatures help regulate and control the spreading of many diseases. Diseases such as malaria are likely to spread because mosquitos will not die during the winter because temperatures are slightly lower than they are in summer. Parasites that originate from sub-tropical environments may migrate to more moderate biomes and reproduce and attack there.

New Head And Shoulders Olive Oil Extracts Product

New Head And Shoulders Olive Oil Extracts Product Head Shoulders (HS) is one of the most renowned brands of Proctor Gamble (PG). Launched first in 1961, it is now in the PG list of hot selling brands with a sale of over USD 1 Billion (Wikipedia, 2010). HS today sells 13 different products ranging from Classic Clean to Intensive Care (HS, 2010). Core line being dandruff protection, HS products are being prepared on sub-themes like hair and scalp type or even flavouring (e.g. menthol or citrus). A renowned survey (Ecologist, 2010) reveals that dandruff shampoos like HS are made with detergents to which anti-flaking agents are added. Zinc pyrithizone contained in Head Shoulders can cause be irritating skin. It has also been agreed the use of oil extracts could help relieve this irritation. With rather un-referenced myths about dandruff shampoos like HS stripping off hair colour rather quickly leaving them greyed prematurely in young ages. Olive oil has been used as a remedy in hair and skin treatments for centuries. Its constant application to hair is described as a guarantee of long lasting hair (eHow, 2010) in Asian European remedies. Hence a new unique HS product (i.e. New HS with Olive Oil Extracts) could give a very classic mix of anti-dandruff features with extra hair treatment through olive oil extracts. As this product is an extension of the HS product-line, it would not be feasible to simply state the damages of an anti-dandruff shampoo for promoting this new product. Although a very fair advertising statement could have been the one identifying the damages of the anti-dandruff shampoo and benefits of olive oil extract, it could have backfired in a sense that it would have undermined all the previous marketing efforts that were undertaken to promote other 13 HS currently running products. It could hurt the brand itself if the advertising for promotion of this product is not carefully done. It should be made sure that the advertising theme conforms to the organization objectives and missions and does not undermine the efforts previously made to promote the currently cash-cow or star products. 2 4Ps in Perspective of New HS Olive Oil Extracts Marketing decision or more specifically the Marketing Mix can be categorized in the four classes i.e. Product decisions, Price Decisions, Place (i.e. Distribution) decisions and Promotion (or Advertisement) Decisions. 2.1 Product Decisions The first category of decisions of the marketing manger is to control different perspectives of its newly manufactured product. Name of the product or brand is the far more important thing in marketing. In case of brands, the name should conform to the organization mission and objective statements while in case of newly introduced products, this name should conform to its brand. HS with Olive Oil Extracts being a product extension of HS conforms to the main brand i.e. HS. 2.1.1 Functionality Product extension pertains to introduction of a product in a similar category while brand extension is the extension of the brand to a totally different category. 13 products of HS are a classic example of product extension within a brand while Virgin is a good example of brand extension as it has many shares in distinct communication media categories. HS conforms to the functionality aspect of product/brand decision. Introduced HS as per the basic functionality of the brand remains an anti-dandruff product with same anti-flaking agents as in other 13 HS products. However, it comes with additional benefits of olive oil for improved hair. 2.1.2 Quality and safety Quality and safety are two other aspects on which matter when the decision about a introducing a product is being made. New HS is to conform to same quality and safety standards as guaranteed in PG products. 2.1.3 Styling and packaging Brands are the social mirror of company. It took Gold star years to get known by L.G. once they decided to change the brand name in 1995 (LG, 2010). Trademarks are erected into minds of people and hence, to benefit from the reputation of a brand, it is vital to conform to the same styling standards. New HS will has standard HS styling with word Head Shoulders prominent on the pack. HS is known to change packaging styles frequently. Very current style for packaging may be adopted. Another important aspect of the packaging of new HS is its availability in 50ml low price mini pack. Reason for introducing such packaging is to engage the clientele that may be reluctant to purchase HS otherwise. Customers in counties in Indo-China region have cost as one of the most important factor in terms of purchasing a product. This mini packaging would entice them to purchase this product. 2.1.4 Support Services Valuing customers through support and services has been one of the key characteristics of HS in general and PG in particular. HS gives value to their customers and provides them with nicest season deals. It is an innovative brands and never hesitates to experiment to provide its customers with variety of products. HS with Olive Oil Extracts becomes yet another innovative product which is a classic blend of herbal (i.e. olive oil) and are contemporary (i.e. anti-dandruff minerals) ingredients. 2.2 Price Decisions Another important component of 4Ps i.e. marketing mix is the price decisions before introduction of a product. 2.2.1 Pricing Strategy Around half of the world population lives in Indo-China region. The share their thought about traditional remedies for health and beauty. Anti-dandruff shampoos like HS have many local competitors offering traditional touch to their shampoo brands and hence being widely adopted. Although multinationals like HS are widely trusted and adopted, some facts (like intensive use of chemical ingredients in HS) and myths (like constant use of HS causes grey hair) give a reason to its competitors to make the people believe that their products (though much inferior in quality) are better than HS. Hence introduction of HS with Olive Oil Extracts would leave no reason for its critics and expected to sell like hot cakes. Local products sell at almost the same price as HS and hence skim pricing (Skimming, 2010) strategy could be adopted to earn financial benefits. Similarly in Europe, Far East and America, penetration-pricing policy (Pricing, 2010) could be adopted in order to attract new customers . 2.2.2 Seasonal Pricing Bundles HS is know by its enticing offers in terms of sales and discounts. Summer is targeted for its European launch and as the product is already been proposed to be sold on introductory low prices, it would not be feasible to offer bundles at this point in time. However after the introductory price offer is over, bundles offers could be targeted for the winter and charismas season. Reverse logistics (i.e. returned items from customer or stores) could be benefited from in terms of offering sales on returned products to clear out the stock seasonally. 2.2.3 Price Discrimination Although not directly, but the different standards of pricing for various geographic sale regions becomes a price discrimination phenomenon which HS with Olive Oil Extracts has adopted. 2.3 Distribution Decisions Logistics are one of the important factors in every business. Following decisions pertaining to distributions may decide the success of a newly introduced product. 2.3.1 Distribution Channels Market Coverage Distribution channels are called two-level when a manufacturer sells its products directly to the customers. It is a well-known practise in bakery and restaurant business. HS as a company is unable to sell its product directly to the customers and hence, up to five-level distribution channel could be adopted before the product finally reaches the customers. In terms of distribution strategies, exclusive strategy could not suit a FMCG like shampoo product and hence for new HS, exclusive strategy would not be feasible in Europe. In Asian markets however, multinationals like PG adopt exclusive strategies and sell the rights of distributions to promoting agencies. Companies like SmithKline Beecham and Reckitt Benckiser have also used this strategy successfully for year in South Asian countries. 2.3.2 Inventory Management and Warehousing It would be feasible for FMCG product like new HS wilt Olive Oil Extracts to be stored off the shore in countries where warehousing is inexpensive. European geographical region can be covered through warehousing in Africa while setting up warehousing in South Asia and Latin America could cover Asia and Americas respectively. 2.3.3 Transportation and Reverse Logistics Warehousing and logistics are two interconnected aspect of distribution decisions. Success of a marketing plan lies in logistics. Either forward or reverse, cost of logistics could play a pivotal role in success of a newly established product. Warehousing locations intelligently selected could effectively decrease the logistic costs. An ideal strategy for the new HS would be to ship it to its relevant warehouses based in various geographic areas suggested above. Subsequent shipments and logistics to the stores (and ultimately the customers) could then be proceeded with from those warehouses. HS ships their shampoo in large containers to 3rd world countries where they are locally packaged. This save the space and promotes the local packaging industries of relevant regions. The same strategy has remained a success story for many of such brands and would be adopted for this newly introduced product as well. In terms of reverse logistics, returned products could be managed locally throug h either resale or disposing-off or recycling where appropriate. 2.4 Promotion Decisions In todays information intensive world it is very hard to attract a potential customer without promotions and advertisements. Hence it becomes to come up with effective decisions about promotion of the product. As per (All Business, 2010) promotions decisions may compel a promoter to think over the following issues more thoroughly. Setting clear goals for promotion Setting a budget Seek out partnerships (Co-sponsors) Promotion decisions involve the following. 2.4.1 Promotion Advertising Strategy Promotion strategy can be Pull or Push (Pullpush, 2010). Pulling promotion policy is to advertise intensively to bring-about its consumer demand. It requires high amount of funding to promote the item through this strategy however, the benefit of this strategy is the direct interaction of company with its customers. On the other hand, a pulling strategy is to promote the product through companys sales force to wholesalers, from wholesalers to retailers and from retailers to the customers. An ideal example of such advertisement strategy is of IPhone 4 that was advertised more by the cell phone companies like O2 than Apple itself. Similarly Nokia also adopts the same strategy. For new HS with Olive Oil Extracts on the other hand would adopt mainly a push strategy in regions like South Asia where customer decisions are influenced by the advertisement. This strategy would also be successful in Europe and Americas however, high street retailers like Boots, Superdrug and Tesco etc. could a lso be used for pulling strategy. 2.4.2 Personal Selling Customers may not access the high street retailers in many cases and hence it may also be good strategy to sell the product through personal selling that may involve door-to-door selling or selling to the local grocery store. Former is widely adopted in South Asian countries. This strategy would again adopt five-layer distribution model where new HS will be sold to wholesalers, then to promoters and it subsequently reaches the customers though stores or sales representatives. Figure One:- Five-level Distribution Model for New HS Olive Oil Extracts 2.4.3 Sale Promotions Sales promotions could be eye catching and force a customer to buy out of time and even if he is not actually in need of that item. New HS is being introduced at a reduced short-time introductory price and is bound to attract clientele. Moreover HS packs are made available in 50 ml mini packs and every pack offers customers to fill an on-site survey about this new product to make the customers realize that HS always cares about the opinion of its respected customers. 2.4.4 Marketing Budget After running an intensive promotional campaign for the new HS on the electronic media, marketing budget of this product could be subsequently reduced through switching to print media at a later time. New HS will also benefit from PG trademark and joint advertisements would be run (for different kinds of PG products). Selling in mix--match (i.e. new HS in conjunction with other PG products) would also be considered. Doing so will not only decrease promotion costs but also increases the sales as the mix--match offers are more attractive than 2-for-1 offers within the same product line. It is notable that this mix--match strategy would be adopted in conjunction with promoters and wholesalers. Figure Two:- Promotion Model 3 Sample Advertisement for New HS Olive Oil Extracts Figure Three- Sample Advertising 4 SWOT Analysis of for HS Olive Oil Extracts 4.1 Strengths Itself being one of the well renowned brands. Working under the umbrella of Proctor Gamble Financial strength High quality customer loyalty Diversity in product lines Advanced logistics Approval of ISO and other standardizing bodies 4.2 Weaknesses Having low-price competitors Use of very strong chemicals for dandruff relief (can cause itching and irritation) Influenced by myths (more use of chemicals may turn hair grey) Less popular in rural areas (in terms of South Asian clientele) 4.3 Opportunities Organic revolution (more people want organic. Olive oil is organic component in New HS) Globalisation (Access to all markets) Population Increase in buying power of people Literacy of clients 4.4 Threats High competition Recession effecting purchasing power Religious cultural issues (Ban on multinational products) Increase in cost of raw material (chemicals used in shampoo and plastic for packaging) 5 PESTEL Analysis for HS Olive Oil Extracts 5.1 Political Globalisation (Access to all markets) will enabled HS to target new potential markets Changes in government and its policies and political instability in rather volatile regions like South Asia that is one of the very attractive consumer markets for new HS. 5.2 Economic Recession and financial melt-down Increase in taxes (e.g. increase in VAT rate in the UK and imposition of a new VAT in Pakistan) Increase in fuel prices and thus increase in price of logistics HS conforms to various international standards and hence the production may incur higher cost. Thus the resulting product is costlier than its local low-quality competitors. Inflations and customers inability to purchase may also be a seriously addressable issue. 5.3 Social Having low-price competitors State sponsored ban on imported items Social boycott of multinational products (for instance in Muslim countries) Increased population means increased customers Increase in cost of raw material (chemicals used in shampoo and plastic for packaging) Illiteracy and lack of technical understanding 5.4 Technological Rapid RD results in improved product and ingredients every day and hence there is always a risk of competitor acquiring that technology and gaining technological advantage. 5.5 Environmental Use of very strong chemicals for dandruff relief (can cause itching and irritation) Influenced by myths (more use of chemicals may turn hair grey) High competition Use of organic items (would give the HS with Olive Oil Extracts high acceptability) 5.6 Legal As HS in general and PG in particular have got many global certifications, no legal issue pertains to the introduction of New HS with Olive Oil Extract. 6 Porter 5 Force Analysis for new HS Olive Oil Extracts 6.1 Threat of Rivals New HS with a unique Olive Oil formula not only removes the dandruff but also nourishes hair with historically trusted olive oil extracts. So far this product give new HS an advantage over other but its rivals like Garnier, Boots, Pentene, LOreal, Elvive, Clinic and Nizoral may strike an oil-well and come up with a contemporary product in their brand-line that could snatch advantage back from HS. 6.2 Bargaining Power of Suppliers New HS is a blend of contemporary anti-dandruff chemical agents and olive oil. As the prices of essential chemicals are on a hike, suppliers consequently get more demanding in terms of asking more price for raw materials. Similarly, as the new ingredient i.e. olive oil is also required for new HS production, it will increase the HSs dependency on new suppliers. 6.3 Bargaining Power of Buyers With variety of anti-dandruff products available in market and lack of knowledge of people about uniqueness of the new HS it is quite possible that buyers switch to rather cheaper low quality products as per their preferences. 6.4 Threat of Substitutes Olive oil is separately available widely in the market so the customers could prefer using hair oil separately and later washing their hair with HS classic to be dandruff free. Although the process becomes cumbersome however this could act as a substitute for the New HS. 6.5 Threat of New Entrants With HS established as one of the most renowned brands, new entrants might not effect already established HS products. Skin and hair products are the ones with which customers usually do not afford to take risk. And hence a new entrant introducing such a product may not get successful at ones. In countries where people value cost than quality, new entrants with low prices (though low-quality) product may gain competitive advantage over new HS. Part 3 Individual Critical Reflection on Learning Outcomes 7 Company Valuing Customers Proctor and Gamble is one of the most renowned fortune 500 companies of the United States (Wikipedia, 2010). The company is known for its advertising campaigns and customer satisfaction. One of the reason for its success is its high standards of value offered to the customers. Head Shoulders is one of its successful star brands that earns her revenues of over 1.7 billion USD a year. Company offers value to the customers through following. 7.1 Sales and Seasonal Offers by HS End of every season, the company offers various kinds of sales and discount offers to the customers. These offer normally cover various product lines covered under the brand. These sales though mainly target at generation of revenues, one of the aspects of also is to enable low-income customers to purchase these HS products. HS comes regularly with exciting 2-for-1 and mix-n-match offers for its products. 7.2 Availability One of the imperative qualities of HS is its availability. Certain percentage of customers may not be able to visit high street stores so the key quality of FMCG like shampoo is its availability at local and small stores. Although it is much easier and cost effective in terms of logistics to provide the product at major stores, HS ensures that its products are available at the local stores on the very same prices or even cheaper than high street ones. Such distribution strategy makes a long logistics chain and benefits HS less in terms of earnings but in terms of customer care it is an effective move. 7.3 Surveys Occasional online surveys on customer satisfaction are also one of the key attributes of HS in terms of customer care. These surveys incur cost to HS but it earns them in reward the customer satisfaction. The surveys are an important mean of knowing about the desirable improvement about the product and also collecting ideas about future products. 7.4 Research Development RD could be interpreted in two ways. One in terms of gaining and maintaining competitive advantage over rivals while more importantly in terms of maintaining customer trust and loyalty. A product without active RD may go stagnant and in-turn compel the customer to switch to a new brand. Not in terms of updating products through technology, there is a strong need for a brand to regularly get innovative products introduced. 7.5 On-site Hair Wash The on-site hair was strategy was introduced by HS in Pakistan where an HS van would visit the public spots and offer them free hair wash. It was then broadcasted as their advertisement campaign. This strategy has made many HS customers feel that HS gives them value by considering them real actors and letting them rather realistically act in its commercials. 7.6 Help Line Customer help-line had been made available in Pakistan for a very long time to help the customers decide the better product as per their hair types. People have benefited from the suggestions and guidelines provided by HS professionals. 8 Contribution of Proposed Advertising Strategy in Valuing Customers 8.1 10% Introductory Discount 10% introductory discount to the customer is yet again an effort that conforms to the companys customer care policy. This strategy will also let the customers switch to the new product easy. 8.2 Customer Survey As a part of advertisement, customers will be invited to fill-in a short survey on this innovative product. It will not only realize customers that their views are valued in HS but would also pave a way for new innovative products in future. 8.3 Innovation This product which itself is an innovation is also to give value to customers who are loyal to the brand. Customers may not switch the product even if it does not suit them just because they do not trust other brands. This innovation would bring confidence and pride in loyal customers. 8.4 Mini Packs To facilitate a large number of rather low-income customers, 50 ml mini packs of new HS with Olive Oil Extracts is being introduced. With the different sorts of large packaging available already this attempt would encourage more customers to buy. It again conforms to the policy of HS to provide products affordable to everyone. 9 Critical Reflection Achievements of Three Learning Outcomes 9.1 Analyzing Elements of Marketing Mix Marketing Mix can be considered as one of the most dynamic legacy marketing model. With main emphasis on 4Ps i.e. Product, Price, Place Promotion this model offers an insight into many marketing concepts. It would not be wrong to state that if followed in its true spirit, it could result in very workable marketing plan. Product part of the marketing mix covers the dynamics of product or service. It ranges from product name to all its specifications. It covers various aspects of a product from its launch till the point its set for disposing off. In other words product related decisions are taken care of in this phases. Next decision phase in marketing mix is the price decision phase. In most of the cases, price setting plays a pivotal role in initial success during launch of a product. It surrounds products initial pricing and offers associated to the product at its launch. Another important component of the 4P model is Place or distribution. Logistics are important both in terms of decreased product costs and timely delivery to the customers nearest stores. Effectiveness of this phase may results in improved pricing for customers and increased savings to the company. Promotions being the final part of marketing mix are the core of the particularly initial launch of the product. Promotions keep the product live in the eyes of consumers and is also a vital component in attracting new customers. Critical View: Although the marketing mix forms the basic structure of a marketing plan, it has some inherent shortcomings that have raised the need to launch more progressive models. One of them is 5Ps model that iterates the need of more desirable distributions like process, people and packaging etc. Subsequent models like porter 5 force model takes into account the environment in which the product is being launched. To win a competitive advantage, it is important to know the competitors or expected competitors and hence this model describes such characteristics pertaining to the environment. SWOT and TOWS matrices are the ways to analyze the self capabilities of a company. It then could be used to compare it against rivals. Similarly PEST and PESTEL analysis help assess the environment in which the product being launched. Although its limitations are there, Marketing Mix can still be categorized as one to the simplest models around. Many models have been organized around this model and it give a very descriptive flow of events that are considered imperative in a marketing plan. 9.2 Critical Appreciation of Marketing Research Techniques Surveys are one of the effective ways to gather data about a persons opining on a topic without physically interviewing him. Critically, surveys intend to concise a whole scene into few questions that require a high skill that everybody may not have. Minor error on surveyors part may spoil all the effort. Another shortcoming of surveys is the understanding level of the audience. It may be possible that the question may not be understood properly. Surveys normally ask for very few choices of answers and hence the person who is being surveyed may not respond in appropriate way. Personal Interviews is another way of market research that is widely used around. One of the shortcomings of the interviews again is the precise nature of questions to be asked and hence requires high skills of the interviewer to prepare the questionnaire. Timing constraints on interview are also an important factor. Limited time may leave questions unasked. Getting time from CEO level administration for interviews may also prove difficult. Observations let study the environment briefly. One of the shortcomings of such techniques is that the observer may take a wrong opinion about the things. Moreover ethically most of the people do not like being observed. Field Trials is another technique in which product is picked in a selected market to gather customer response. One of the shortcomings of such approach is that if the product fails, it could spoil the product name forever. Similarly competitors may acquire that product to develop their version of the same product and hence RS goes wasted. Focus Groups is another technique for marketing research. Focus groups provide subjective data. One of the problems in the focus groups is the biasness on certain issues that may spoil the outcomes from this activity. 9.3 Use of Marketing Terminology Concepts Marketing is a very diverse field with many intermingling theories and concepts. Where behaviour related theories of reasoned action are covered in consumer behaviour, they are also studies in Porters 5 Force model under Buying Power. Similarly theories like PEST analysis give economics of marketing the Pricing part of Marketing Mix also discusses pricing. In Porters Five Force model logistics are also covered while in Place phase of 4P model, the inbound and outbound logistics are discussed. Social issues under PEST analysis are closely connected with Threats and Opportunities section of SWOT analysis. Many threats are discusses in Porters 5 Force Model while the same could be discussed under Threats phase of SWOT analysis. Hence identifying the boundaries may prove difficult however these model still individually attempt to cover as many as possible aspects of marketing plan. 10 Module Learning Related Questions Expectation at the Start of Module:- One of the basic expecting at the start of this module was to be enabled to develop an appropriate business plan developed for an organization of my choice. The aim was to understand the basis issues and important aspect of a marketing mangers job. And to understand the meanings of marketing strategy and what aspects of the business environment are required to be looked at for devising a successful strategy. To understand the role of various models of marketing that could help device a strategy. Experience Brought to Module:- I had studied many to the theories before but was not aware to device a business plan from the concepts that I had in my knowledge. I possessed a grip on theoretical aspect of many models but practicality was lacking. Experience Used to Achieve the Learning Outcomes:- Having knowledge of theories, it was easy for me to cope with the practicality that was the main focus of this module. I wasted no effort to remind these theories by heart as they were already in my mind. What I focused was the application of these concepts. Taking an organization and applying them to it. Through a repeated practise of case-study solving, I am capable of devising a rather appropriate strategy for my organization. Views on the Process:- It was a step-by-step learning process. Like mentioned before, the aspect of practicality was there in the learning. I had revised my concepts. Learned new things like 4P models and learned how they are interconnected. Later I took various case studies during the course and applied my knowledge onto them to see what organization used what strategy. Prior Knowledge:- The understanding of the basic marketing terminologies, concepts and theories was required to go smoothly. As the study under the module was focused on the business process and it even started up with the case studies hence it was pivotal to know them all. How I am Likely to change:- This process helped me learn develop business plans for the organizations. It has also helped me assess myself through repeated rounds of class discussions on the basic concepts and business case studies of various natures. It has also helped me on understanding the my future job where I may be required to device a strategy for my future employer. My Feelings undergoing the Process:- It was nice to learn and even nicer to experience a switch in my approach from a theoretical approach to a purely business oriented practical approach. Questions on the Learning Outcomes:- Typically I was all clear about the concepts and theories. I found however during devising the business plan and studying other case studies during the class sessions that that many theories are interrelated. I also understood that the one of the basic models is the Marketing Mix model from which, the other contemporary models are based on. Efforts would be made further clarify myself on the 4Ps and its extensions. Studies would be continued in individual resources to see how the models like Marketing Mix have been replaced by contemporary models. 11 Conclusion Part 1 of this work was a situation analys

What is Important? :: Law College Admissions Essays

What is Important? Â   I sat down today to write an essay which undoubtedly would have followed the same format that you have seen a thousand times before, but after tonight I don't think that would really be appropriate. I am an accomplished student. As an Environmental Resources Engineering student I am trained to think and problem solve. Consistently I am placed in leadership positions by my peers, and I have a reputation for doing work well beyond what is expected. Since my return to school five years ago, my goal has been to be known and respected by my peers solely based on a reputation for producing excellent work. On July 28, 1999 my life changed, but not my goals. I got married to the kindest, most caring woman I've ever known. For the last two and a half years spending time with her has been the single most important extracurricular activity in my life, and today I was reminded of that. Â   After considering attending law school for several months, I made the final decision last August. Since then, it has been at the forefront of my mind. This semester in school has been a very demanding one. I have half a dozen major design projects going on, and have been designated the group leader in three of the four group projects. I like leading the charge in my group design projects. It is especially rewarding when my peers turn to me for leadership and help when I am not officially designated as the leader. It has a very significant side effect though: loss of time. Fortunately, budgeting time is one of my strengths. I am in class 25 hours a week, I operate a small business providing information to a power agency, I direct many efforts within my group design projects, I stay on top of my homework, attend some engineering club activities, and spend time with my wife. With 24 hours in a day, six lost to sleep, and countless others lost to running the household, aided by my wife, this is no small task. Lately it got a little harder. Â   When we were married, my wife left her friends and family in Canada and followed me down to California to an uncertain future. I had just transferred to a California state university. I had no job and only a few thousand dollars saved up from my job at the power agency.

Reconstruction or Deconstruction Essay -- American America History

Reconstruction or Deconstruction Following The War for Southern Independence the radical Republicans of the North took unjust measures over the conquered and impoverished social structure, economy and governments of the defeated southern states. In fact, the whole idea of "reconstruction" was in fact "deconstruction". Reconstruction was not to "heal the nation's wounds," or to economically revitalize the South (which it did not). Indeed, Reconstruction was economically destructive to the South. The purpose was to continue the economic plundering of the Southern states for as long as possible, and to establish a national Republican party political monopoly. Congress Passes the Reconstruction Act On March 2, 1867, Congress passed the Reconstruction Act and thus abolished local civil government in the southern states. It divided the southern states into five military districts-each commanded by a battalion of Federal troops to insure that southern whites were held in total subjugation to every radical Republican policy of the northern politicians. During this reconstruction period many Northerners came southward to take unfair advantage of a destroyed economic and governmental structure in order to gain political and or financial advantage. These greedy opportunists were self-seeking in their quest to exploit the South. With no regard what so ever to the quiet, peaceful Southerners the Northerners attempted to implement their beliefs and ways of life upon the grieving Southerners. Carpetbaggers "Carpetbaggers were supposedly sleazy Northerners who had packed all their weordly goods into a carpetbag suitcase at the war's end and had come South to seek personal power and profit (2)." Although these carpetbagger... ...es offered no financial assistance to the Confederate veteran, while at the same time passing laws "legalizing" their misappropriation of public finds for their own selfish gain. Aftermath Following the war, what lasted from 1865 to 1866 was the greatest trial that the South had to bear, not excepting the terrible ordeal of war. No people had to undergo so dark a period with such complications. The cost to the South was great, but her citizens didn't lose hope, yet began to work with a will to revoke all improper and corrupt legislation, to restore economy in public expenditures, to reduce taxation, to do away with useless offices, to make schools efficient, and to build up waste places. History will certainly condemn the legislation that entailed such misery, such corruption, and such extravagant expansion of the money of an impoverished and crushed people. Reconstruction or Deconstruction Essay -- American America History Reconstruction or Deconstruction Following The War for Southern Independence the radical Republicans of the North took unjust measures over the conquered and impoverished social structure, economy and governments of the defeated southern states. In fact, the whole idea of "reconstruction" was in fact "deconstruction". Reconstruction was not to "heal the nation's wounds," or to economically revitalize the South (which it did not). Indeed, Reconstruction was economically destructive to the South. The purpose was to continue the economic plundering of the Southern states for as long as possible, and to establish a national Republican party political monopoly. Congress Passes the Reconstruction Act On March 2, 1867, Congress passed the Reconstruction Act and thus abolished local civil government in the southern states. It divided the southern states into five military districts-each commanded by a battalion of Federal troops to insure that southern whites were held in total subjugation to every radical Republican policy of the northern politicians. During this reconstruction period many Northerners came southward to take unfair advantage of a destroyed economic and governmental structure in order to gain political and or financial advantage. These greedy opportunists were self-seeking in their quest to exploit the South. With no regard what so ever to the quiet, peaceful Southerners the Northerners attempted to implement their beliefs and ways of life upon the grieving Southerners. Carpetbaggers "Carpetbaggers were supposedly sleazy Northerners who had packed all their weordly goods into a carpetbag suitcase at the war's end and had come South to seek personal power and profit (2)." Although these carpetbagger... ...es offered no financial assistance to the Confederate veteran, while at the same time passing laws "legalizing" their misappropriation of public finds for their own selfish gain. Aftermath Following the war, what lasted from 1865 to 1866 was the greatest trial that the South had to bear, not excepting the terrible ordeal of war. No people had to undergo so dark a period with such complications. The cost to the South was great, but her citizens didn't lose hope, yet began to work with a will to revoke all improper and corrupt legislation, to restore economy in public expenditures, to reduce taxation, to do away with useless offices, to make schools efficient, and to build up waste places. History will certainly condemn the legislation that entailed such misery, such corruption, and such extravagant expansion of the money of an impoverished and crushed people.

Macbeth - Conflict Essay -- essays research papers

"Conflict is central to the dramatic development of any play." Prior to deciding whether or not conflict is central to the dramatic development of MACBETH, one must consider all the dramatic factors that contribute to the Shakespearean play. The gradual decline of the protagonist , the role portrayed by characters and the order in which the events occur, greatly influence the direction in which the development of the play takes place. After reading the text MACBETH, by Shakespeare and viewing the film version, directed by Roman Polanski, it is logical to see that ambition and the deceptive appearances of what really is, is central to the dramatic development of MACBETH. Initially MACBETH is seen as a great soldier, a fearless fighter who has loyally defended his King against a treacherous rebellion. However, he is corrupted by evil in the form of three witches and their supernatural prophecies, and by ambition, not so much his own at first but by Lady Macbeth's ambition for him to murder Duncan, thus attaining the crown of Scotland. In Act I, Scene I three witches plan to meet MACBETH upon a heath. They announce the major theme of the play: appearances can be deceptive. "Fair is foul, and foul is fair." MACBETH's affirmation of this is reciprocated in Act I, Scene III, when he echoes the witches words, "So fair and foul a day I have not seen." Factors that are apparent in both the text and visual of MACBETH are the symbols and imagery used by Shakespeare and Polanski. Due to the different language modes used in both versions of MACBETH, the audience must themselves visualise the images in the text, since the main language mode is reading and can therefore interpret the images quite differently in comparison with Polanski's MACBETH. The main language mode in the film is viewing and listening, so the audience does not have to interpret the images for themselves because it has already been done for them, which enhances the audience's response and emotions to the dramatic development of ambition and deceptive appearances. In the written text, Shakespeare emphasis's the hidden reality through the use of dramatic techniques of imagery and symbolism. There is a constant use of light and dark imagery which is used by the protagonist , MAC... ...s his evil actions continue, increasingly violent. His conscience, on the other hand, before and after the murder of Duncan, is unstable. A further exhibition of conscience can be seen in his nightmares, the immediate realisation that he has 'murdered Sleep'. Insecurity is present initially, and is intensified by MACBETH's actions. Shakespeare indication of this the soliloquy of MACBETH before the murder of the King: "If it were done, when 'tis done, then 'twere well It were done quickly†¦.." (Act I, Scene VII) Encompassing all the evidence that has been presented and after reading and viewing Polanski and Shakespeare's renditions of MACBETH it is logical to come to the conclusion that ambition and deceptive appearances is central to the dramatic development of MACBETH. Without ambition MACBETH would not have pursued his path to become King of Scotland so viciously. Deceptive appearances is the key to this play because without hiding reality all the evil enfolding this play, all the intentions of protagonist and the other characters would have been revealed. Without the centralisation of these themes, MACBETH would have been altered and the plot would be non-existent.

Responsibility Accounting Essay

It is impossible for top managers to make all the necessary decisions about everything except in very small organizations. Somehow at some point he has to delegate some decisions to those who are at the lower levels and are more knowledgeable to the everyday detail of the company’s operation. By empowering lower level managers to make decisions, decision-making authority is spread throughout the organization rather than being confined to a few top executives. Attached with this decentralized approach, are costs and decisions at each sub-level that managers have to be responsible for. Decentralized organizations need responsibility accounting systems to link the manager’s decision-making authority with accountability for the outcomes of those decisions and to make sure that they are in congruence with the organization’s goals. The term responsibility center is used in any part of the organization whose managers has control and is accountable for cost, profit or investment. An Organizational View of Responsibility Centers †¢The manager of an investment center has control over cost, revenue, and investments in operating assets. Investment centers are usually evaluated using return on investment (ROI) or residual income measures. †¢The manager of a profit center has control over both costs and revenue, but not over the use of investment funds. They are often evaluated by comparing actual profit to targeted or budgeted profit. †¢The manager of a cost center has control over costs, but not over revenue or the use of investment funds. Managers of cost centers are expected to minimize costs while providing the level of products and services demanded by other parts and stakeholders of the organization. For this decentralized structure to be effective, organizations need to employ responsibility accounting. Responsibility accounting refers to the various concepts and tools used by managerial accountants to measure the performance of people and departments to foster goal congruence. Below are some of the concepts and tools that managerial accountants used for responsibility accounting: 1.Segment Reporting – Income statements are generated from each part or activity of an organization (e.g. sales territories, individual stores, service centers, manufacturing plants, marketing departments, individual customers, and product lines). In utilizing this concept of reporting, managers have to identify traceable and common fixed costs and make use of activity-base costing if necessary. These segmented income statements are useful in analyzing the profitability of segments and in measuring the performance of segment managers. 2.Performance report of each responsibility centers – this shows the budgeted and actual amounts, and the variances between these amounts, of key financial results appropriate for the type of responsibility center involved. The data in a performance report help managers use management by exception either to control cost operations effectively, find ways to generate more profit or consider opportunities for investments. 3.Activity-based responsibility accounting – Under this approach, management is directed not only to the cost incurred in an activity but also to the activity itself. Questions like the following will be asked, â€Å"Is the activity necessary?† Does it add value to the organization’s product or service?† Can the activity be improved? By seeking answers to these questions, managers can eliminate non-value added activities and increase the cost effectiveness of the activities that do add value. 4.Customer Profitability Analysis – uses the concept of activity-based costing to determine how serving particular customers causes activities to be performed and costs to be incurred. This focus on major market segments, geographical regions, distribution channels or customers. This also helps managers gain insight into the factors that are driving the company’s performance. Goal congruence results when the managers of subunits throughout an organization strive to achieve the goals set by top management. Given the above concept and with proper implementation an organization is surely rising above its competitors. It is therefore recommended that while top management gave the subunit managers decision-making authority and responsibility accounting systems in place, it is still of utmost importance that both side will conduct regular dialogue and consultations for coordination and to keep each other expectations on the same level and to make sure that top management understands the concerns of the lower level managers and vice versa. Top management also must emphasize that the responsibility accounting systems main functions are information and not blame, make sure costs are distinguished properly between controllable and uncontrollable as this increases the effectiveness of cost management systems, and its usage is to motivate desired behavior that would be beneficial for both the company and the employees. So how does responsibility accounting fosters goal congruence? As companies adopt this concept, top level management can concentrate on bigger issues such as overall strategy of the company. This allows as well lower-level managers to respond more quickly to customers and to changes in the operating environment since layers of decisions makings and approvals have been eliminated, and lower managers are now given the chance to be trained for higher positions. Consequently, as lower level managers make decisions they are expected that their motivation for work and job satisfaction is increased because the decision-making authority empowers them. But the concept of responsibility accounting is not only limited to an organization’s structure. For any type of cost whether from an organization’s perspective or from your personal life, an important key to managing or controlling the cost is to make it someone’s responsibility. And whether we like it or not, decisions has to be made, the only difference is that if we are choosing to make the right decisions or the wrong ones.

American Parkour Movement

The start of Parkour started with a French naval officer named Gorges Hebert. During World War I Herbert when on a trip to Africa. While he was there he was rather impressed with one of the native tribes. â€Å"Their bodies were splendid, flexible, nimble, skillful, enduring, and resistant but yet they had no other tutor in gymnastics but their lives in nature. †Ã¢â‚¬â€Georges Hebert. This was the beginning of his idea that physical fitness combined with mental creativity are fundamental necessities for a living person.While Hebert was stationed in Saint Pierre, Martinique, he was placed in charge of an evacuation of around seven hundred people because of the erupting of Mount Pelee. This event forwarded his new idea and he then began to apply it to his career. He started to incorporate this new idea to the training of French soldiers since World War II. One soldier that took a particular interest to this training was Raymond Belle. He continued with his training because it a lso later helped in become skilled within the Paris fire department.He also began to teach his soon about this philosophy, that one must achieve strength and dexterity in order to be useful in life and that you must be able to see beyond society’s ideas of objects. Just because a group of people have place a permanent purpose for a particular object. For instance, most people are stuck to the idea that a rail or wall is a barrier. Others who can see around this could use these as vaults or ladders. David took this idea to heart and created Parkour, which rapidly spread throughout France.Eventually this traveled to other surrounding countries and even America. For a while Parkour had no real definition, it was just a wondering lifestyle heard by ear but the American Parkour committee, along with members outside of the committee, gathered together to discuss the definition based of it original philosophy and this is what was finally created: Parkour is the physical discipline o f training to overcome any obstacle within one's path by adapting one's movements to the environment. Parkour requires†¦ consistent, disciplined training with an emphasis on functional strength, physical conditioning, balance, creativity, fluidity, control, precision, spatial awareness, and looking beyond the traditional use of objects.* Parkour movements typically include†¦ running, jumping, vaulting, climbing, balancing, and quadrupedal movement. Movements from other physical disciplines are often incorporated, but acrobatics or tricking alone do not constitute parkour. Parkour training focuses on†¦ safety, longevity, personal responsibility, and self-improvement. It discourages reckless behavior, showing off, and dangerous stunts. * Parkour practitioners value†¦ community, humility, positive collaboration, sharing of knowledge, and the importance of play in human life, while demonstrating respect for all people, places, and spaces.

General Mills Inc. Understanding Financial Statements

Introduction The case study General Mills Inc. – Understanding Financial Statements focuses on the most basic idea of finance analysis. This case is a brief look into the language that is used in the finance world and a start to interaction with auditors. In this case, KPMG LLP, the public accounting firm that was auditing their statements, had sent two opinion letters. The first letter was ensuring that both parties were aware that General Mills had internal control over financial reporting.The second opinion letter stated that to auditor’s knowledge, General Mills had correctly reported its financial statements. The statements given in this case study are known as the four general financial statements. Displayed in the case are the Consolidated Statements of Earnings from years 2004 to 2006, the Consolidated Balance sheet from 2004 to 2006, the Consolidated Statement of shareholders’ equity from 2004 to 2006, and the Consolidated Statement of Cash Flows from 20 04 to 2006.These general pieces of finance material provide enough information to analyze General Mills over the past two years. Thanks to the financial statements provided, we had the ability to compare the company’s performance in 2005 and 2006, and to see whether the company was still in good standing or not. The following is a basic analysis and interpretation of General Mills financial statements. Concepts a. General Mills is a food company. Its main activities consist on producing and selling ready-to-eat food, as well as doing retail business.These activities take place in the U. S. , Canada, Europe, Latin America and the Asia/Pacific region. b. Consolidated balance sheet, consolidated income statement, consolidated shareholders’ equity, and consolidated cash flow statement are the financial statements that are addressed to external audiences. General Mills submit consolidated financial statements because the accounts represent the company and its subsidiaries. c. The SEC requires that the financial statements for external reporting purposes be prepared quarterly. These quarterly reports are called 10Q reports.Then, SEC requires that these financial statements be done annually. These annual reports are called 10K reports. d. Financial statements are usually prepared by accounting staff; however, the CEO and CFO are the responsible for the accuracy of these statements. Generally, internal and external audiences are interested in the information presented in financial statements. On the one hand, the internal audiences are managers, owners and employees. First, in order to make decisions, managers and owners review the financial reports.Second, financial reports provide a clear view of the financial position and market value of the organization. Third, employees may use financial reports to insure their jobs positions within the company and negotiate possible salary hike and promotion. On the other hand, there are many external agents who ar e interested in the financial reports. First, investors use financial statements to evaluate the general performance and financial strength of the company. This evaluation helps make rational investment decisions.Second, financial institutions like banks and other lending institutions use the reports to assess the weight of debts and decide how risky the company is. Third, partners of the company consider the financial situation of the company in order to revise the contracts and partnership terms. Forth, suppliers are also interested in the financial performance of the company because that helps them decide whether to extend their credit or not. Fifth, government is in concern with the financial reports of this company, because these reports are the only means of verifying if the tax paid is accurate and adequate. . General Mills external auditor is KPMG LLP, an independent registered public accounting firm that issued the two â€Å"opinion† letters that General Millsâ€℠¢ Board of Directors and Stockholders received. The first â€Å"opinion† letter regards internal control over financial reporting, while the second â€Å"opinion† letter concerns financial statements and related financial statement schedule. The first â€Å"opinion† letter confirms that the General Mills upheld valid internal control over financial reporting as of May 28, 2006.The second â€Å"opinion† letter assures that the consolidated financial statements were fairly presented as of May 28, 2006. We see that the time difference between issuing the financial statements and receiving the opinion letters is fair, because audits need few months to gather information and analyze it. Analysis f. g. i. For May 28, 2006: Assets= $18,207 Liabilities + Equity = $11,299 + ($5,772 + $1,136) = $18,207 ii. For 2006, General Mills’ had a proportion of 17. 44% for short-term assets, and a proportion of 82. 6% for long-term assets. So, land, building and equipm ent, goodwill and intangible assets make up the majority of total assets. In other words, General Mill’s major assets are long-term assets, which is explained by the nature of business that General Mill Inc. does. iii. In general, intangible assets are assets that are not physical in nature. Corporate intellectual property (items such as patents, trademarks, copyrights, business methodologies), goodwill and brand recognition are all common intangible assets in today's marketplace.Goodwill is a long-term asset categorized as an intangible asset. The amount of goodwill is the cost to purchase the business minus the fair market value of the tangible assets, the intangible assets that can be identified, and the liabilities obtained in the purchase. In the case of General Mills, the intangible assets could be patents, strong brand name, copyrights, franchises and goodwill. iv. In 2006, General Mills was financed at a proportion of 62. 06% by non-owners and at a proportion of 37. 9 4% by owners. h. i.General Mills recognizes sales revenues upon acceptance of the shipment by its customers. The promotions and estimated returns are not included in the reporting of sales. The coupons costs are registered when distributed and their amounts are based on estimated redemptions. As for trade promotions, they are expensed based on estimated participation and performance levels for offered programs. Concerning returns, the company has a new return policy. However, the company may allow few returns if the product is in good condition to be sold again.The company expenses returns as reduction of net sales. The company’s policy of registering revenues, promotions and estimated returns are conform with GAAP. ii. The common-size income statement of 2006 reveals that General Mills’ major expenses are cost of sales with a proportion of 59. 85%, followed by selling, general and administrative expenses with a proportion of 23. 01%. iii. Between 2005 and 2006: The co st of sales and the selling went up by a small proportion, while selling, general and administrative expenses along with interest expenses went down by 0. 7% and 0. 54% respectively. However, selling, general and administrative expenses went up by 1. 51%. iv. To our opinion, General Mills included these unusual expenses in a separate section in order to avoid misleading the readers about the reason why selling, general and administrative expenses increased. v. During 2006, the company realized profits of 1,090 million dollars, while during 2005 realized profits of 1,240 million dollars. Since the two results are positive, we assume that the company was profitable during 2005 and 2006. vi.The change in net earnings between 2005 and 2006: (1,090 – 1,240) / 1,240 = -12. 1% The change in net earning between 2004 and 2005: (1,240 – 1,055) /1,055 = 17. 54% So, between 2004 and 2005 the net earnings raised by 17. 54%, while between 2005 and 2006 the net earnings decreased by 12. 1%. Excluding the costs of Divestitures and Debt, the net earnings of 2005 and net earnings difference between 2005 and 2006 will be as follow: Net earnings (2005) = 1,240 – (499-137) * 0. 617 = $1,016. 6 Net earnings difference (2005-2006) = (1,090 – 1,016. ) / 1,016. 6 = 7. 22% i. i. In 2006, net earnings are $1,090 while net cash provided by operating activities is $1,771, which means that there is a difference of $681 between these two accounts. This difference can be explained by the fact that some gains or costs don’t generate any increase or decrease in cash flow. For example, depreciation and amortization are costs that don’t change the level of cash flow. ii. During 2006, General Mills used for expenditures $360 million. iii. General Mills paid $485 million for dividends. j.The account on General Mills’ balance sheet that require estimates are the following: * Fixed Assets: Because the life time of a fixed asset is estimated, then depr eciation is estimated as well. Then, the net value of fixed assets –that is historical value – accumulated depreciation – is estimated as well. * Inventories: General Mills uses FIFO method for valuing the inventories in the U. S. and LIFO method for valuing inventories outside the U. S. * Doubtful accounts: these are accounts receivable that the company assumes won’t’ be collected in the future.We assume that all the balance sheet accounts, except long term debts, have estimated values. Conclusion After having studies General Mills’ business environment, and went through the analysis of its financial statements, we assume that this company’s performance for the year 2006 was better than 2005. In order to be more objective, we have excluded the gains and losses from divestitures and debt repurchases costs in our analysis, because these costs are considered as unusual. Thus, the common-size income statement shows that the company did b etter from 2004 to 2005 in terms of net sales and income statements.However, the after-tax earnings from Joint Ventures were much lower in 2006 than in 2005 and 2004. We assume that this decrease is mainly related to the change of the structure of joint ventures, as the company sold many of its subsidiaries. In addition, the income statement reveals an increase of dividends per share from the year 2004 to 2006, which means that the shareholders got higher profits. The information presented in the consolidated and common-size balance sheets was about the assets, liabilities and equity of the company.First, we noticed that the majority of the company’s assets are long-term assets, which we found normal seen the nature of business of General Mills. Second, 63% of the company’s business is run by liabilities, we assume that General Mills is a low risk company and that its cash flows are stable and positive. . ———————— ——————– [ 1 ]. Definition retrieved from: http://www. investopedia. com/terms/i/intangibleasset. asp#axzz2N0pq9ntS [ 2 ]. Definition retrieved from: