Basics of Christianity and Hinduism

Christian basic Christianity is one of the most famous religions on the planet. Two billion individuals overall are occupied with 33% of Christianity on the planet. Christianity is confidence in the Father, Jesus Christ, and the Holy Ghost. The possibility of ​​how a dad, child, and the Holy Spirit will be one is by all accounts something you may have in a unique manner or somehow or another. The way this might be unimaginable for a great many people is on the grounds that the Trinity has never been referenced unequivocally in the content. Religion isn't so significant in this day and age contrasted with several years back. In the United States, the principle religion is Christianity, nobody is stressed over different religions like Hinduism. Abnormally, Hinduism was consistently on the planet before Christianity, however numerous individuals don't have any acquaintance with it. As I have seen previously, when showing strict convictions, There is absence of intricacy contrasted with Christian exercises (Glod). A few people think Christians are flawless to finish different religions, however everybody is immaculate in their own specific manner. As we as a whole know, Christianity and Hinduism are extraordinary. There is a slight comparability between the two convictions. Religion is a significant part of individuals' lives. Since Christianity just standards over the guidelines of individuals' lives, Hinduism is in front of Christianity. Since Hinduism is a religion with numerous convictions and practices, it is all the more testing to offer Christianity and Hinduism. It utilizes Hinduism as an uncalled for propensity, diminishing its religious philosophy and theory to the degree it truly furnishes for correlation with Christianity. Yet, in Hinduism there are some basic standards for all Hindus. The principal distinction among Hinduism and Christianity is that Hinduism thinks about Christianity as a successful religion, while the Bible doesn't. Hinduism is a religion that advances resilience. It trains that all religions are various ways to objectives and that all religions are various methods. Hinduism isn't select and concedes that all religions are successful. However, Christianity instructs that Christ is the best way to God. John 14: 6 answered, Jesus replied, I am the way, reality, the life, it's not possible for anyone to go to the dad with the exception of me.

Operations Strategies at Marks & Spencers Clothing Industry Assignment

How Does Ageism Impact More Than Just Older Adults

How Does Ageism Impact More Than Just Older Adults Brain Health Healthy Aging Print How Does Ageism Impact More Than Just Older Adults? By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Updated on September 19, 2019 Nick Clements / Taxi / Getty Images More in Brain Health Healthy Aging Brain Food Mental Exercises Ageism is a type of discrimination that involves prejudice against people based on their age.?? Similar to racism and sexism, ageism involves holding negative stereotypes about people of different ages. The term ageism was first used by gerontologist Robert N. Butler to describe the discrimination of older adults.?? Today, the term is often applied to any type of age-based discrimination, whether it involves prejudice against children, teenagers, adults, or senior citizens. Manifestations of ageism are frequently cited in workplace situations, where it can lead to pay disparities or difficulty finding employment. Younger adults may have difficulty finding jobs and receive lower pay due to their perceived lack of experience, while older adults may have problems achieving promotions, finding new work, and changing careers.?? Stereotypes That Contribute to Ageism Researchers Susan Fiske has suggested that stereotypes about older people often relate to how younger people expect them to behave.?? The first stereotype she described relates to succession. Younger people often assume that older individuals have had their turn, and should make way for the younger generations.?The second stereotype relates to what Fiske refers to as consumption. Younger people frequently feel that limited resources should be spent on themselves rather than on older adults.Finally, young people also hold stereotypes about the identity of older adults. Younger people feel that those who are older than they should act their age and not try to steal the identities of younger people, including things such as speech patterns and manner of dress.?? Just How Common Is Ageism? Researchers have also found that ageism is surprisingly commonplace. In one study published in a 2013 issue of The Gerontologist, researchers looked at how older people were represented in Facebook groups. They found 84 groups devoted to the topic of older adults, but most of these groups had been created by people in their 20s. Nearly 75 percent of the groups existed to criticize older people and nearly 40 percent advocated banning them from activities such as driving and shopping.?? Older adults also feel the impact of this discrimination in the workplace. According to the US Equal Opportunity Commission, almost a quarter of all claims filed by workers are related to age-based discrimination.?? The AARP reports that 1 in every 5 workers in the United States is over the age of 55. Nearly 65% of workers say that they have experienced age-based discrimination at work and 58% of those surveyed believe that ageism became apparent starting at age 50. How to Combat Ageism The American Psychological Association suggests that ageism is a serious issue that should be treated the same as sex, race, and disability-based discrimination. They suggest that raising public awareness about the issues ageism creates can help. As the population of older adults continues to increase, finding ways to minimize ageism will become increasingly important.?? Causes, Effects and Prevention of Implicit Bias

Finance final study guide Essay - 2210 Words

-Martin Industries just paid an annual dividend of $1.30 a share. The market price of the stock is $36.80 and the growth rate is 6.0 percent. What is the firms cost of equity? RE = [$1.30 Ãâ€" (1 + 0.060)] / $36.80 + 0.060 = 0.097446 = 9.74 percent (3) - The Bet-r-Bilt Company has a 5-year bond outstanding with a 4.30 percent coupon. Interest payments are paid semi-annually. The face amount of the bond is $1,000. This bond is currently selling for 93 percent of its face value. What is the companys pre-tax cost of debt? (3) -Jensens Travel Agency has 9 percent preferred stock outstanding that is currently selling for $49 a share. The market rate of return is 15 percent and the firms tax rate is 34 percent. What is Jensens cost of†¦show more content†¦Your required rate of return is 9 percent. Ignoring taxes, what is the value of one share of this stock today? PV = ($0.75 / 1.09) + ($2.90 / 1.092) = $3.13 (1) - Merlo, Inc. maintains a debt-equity ratio of 0.25 and follows a residual dividend policy. The company has after-tax earnings of $3,800 for the year and needs $3,200 for new investments. What is the total amount Merlo will pay out in dividends this year?If debt = 0.25 and equity = 1, then debt + equity = 1.25. Equity portion of new investments = $3,200 Ãâ€" (1 / 1.25) = $2,560.00 Total dividends paid = $3,800 - $2,560.00 = $1,240.00 = $1,240 (rounded) (4) - A firm has a market value equal to its book value. Currently, the firm has excess cash of $1,200 and other assets of $10,800. Equity is worth $12,000. The firm has 750 shares of stock outstanding and net income of $775. What will the new earnings per share be if the firm uses its excess cash to complete a stock repurchase? 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The Power Of Millennials Conflict Between Countries

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Millennials are using their voting power and the power of the internet to gather attention from the older generation that they want America to be a less dominant country and not interfere with other countries if possible. In this specific chapter, Cahn and Cahn argues Millennials hold different perspectives on foreign policy as the older generation does. Unlike competing with countries, millennials prefer cooperation because they get tired of getting into war and make unnecessary deaths. They form this kind of idea after some tragic accidents happened throughout the world. Those accidents had a huge influence on millennials attitude. The millennials do not want the United States involve in too muchShow MoreRelatedSanchi Team Reflection1037 Words   |  5 Pagesindependently, but those who do find it easy to focus and concentrate when they block out all distractions – including interactions with coworkers. They shine when insulated from the interruptions of a hectic workplace. 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Satire of Modest Proposal Free Essays

Satire at its Finest A masterful satire, this is what Jonathon Swift’s â€Å"A Modest Proposal† is. The writing is used to construct a misunderstood proposal that comments on the social hardship of Ireland while blaming the government’s incompetence as well as the morals of the country. His proposal makes it visible to others that there is a need for social reform. We will write a custom essay sample on Satire of Modest Proposal or any similar topic only for you Order Now From the beginning, it is not clear to the readers of what Swift’s true proposal actually is, but as it is being broken apart, one can see that the entire writing is full of sarcasm. The proposal itself speaks to the people who ignore the issues but who are also the ones that can fix them. As a proposed solution, that author states in the intro that â€Å"for preventing the children of poor people in Ireland from being a burden to their parents or country, for making them beneficial to the public† (Swift 239). Swift is bringing upon an attempt to find a cheap and easy method for bringing children of the poor into the commonwealth as well as turning the problem that is amuck, into its own solution. He uses analogies for the way people, a nation, can be devoured and how the nation is consuming itself and its own resources. â€Å"I grant this food will be somewhat dear, and therefore very proper for landlords who, as they have already devoured most of their parents, seem to have the best title to the children†(Swift 240). Swift has effective and ineffective ways of using different literary techniques that will intrigue one or leave them completely baffled with his proposal. At first glance of this writing, a reader can be nothing but appalled, though it causes one to think about realistic solutions and to take action. Swift’s proposal is effective by which he delivers his argument so efficiently and with such detail and use of sarcastic comparisons, exaggerations, and emotional appeals. His main solution to this problem is the practice of selling and eating children. â€Å"A young healthy child well nursed is at a year old a most delicious, nourishing, and wholesome for, whether stewed, roasted, baked, or boiled; and I make no doubt that it will equally serve in a fricassee or ragout†(Swift 240). He uses statistical support and specific data about pricing, rates, and population numbers, to make his argument more agreeable and supportive. To make his proposal so effective, the author uses good structure, tone, language, and rhetorical appeals. The use of suggestive language makes it hard for the reader to not agree with his arguments. Though the language is clear, it is at a cross with the tone. The tone though full of sarcasm and irony, changes throughout and also reduces human beings and compares them to livestock. An example of this is when Swift writes that â€Å"women as breeders,† and â€Å"children just drooped from its darn† (Swift 241). At first, the author was sympathetic toward the people, but then it becomes more sarcastic again. The use of ethos, logos, and pathos play a large role in making this writing so effective. The constant flow of disgust and humor, have an effect on the reader emotionally, creating pathos. The ethos and logos give the writing underlying meaning, while the logos create an unsympathetic feeling allowing the proposal to come off as one that is opposed. With the author creating different methods of cooking children, the ethos is weakened. A wholesome food whether stewed, roasted, baked or boiled† (Swift 240). With supporting evidence from friends, Swift provides details on better consumption ages, flavors, and experience. This proposal also has some techniques that make it ineffective in its writing. The author is portraying himself to be from a self-righteous moral stance. His stance on the sides is not easy to identify. The irony used is to criticize the society that enables all the se problems and the poverty of others while at the same time it is degrading the poor. His writing shows a lack of compassion for the human life, and by being one-sided and not considering opposing viewpoints, it loses some effectiveness. By discriminating, one would suggest it has an effect on it as well. The story does contain fallacies. One of these fallacies is appeal to authority. Jonathon Swift suggests a friend, who it seems is one of a higher status, who describes the different ages, value and ways that he and others have committed cannibalism. This fallacy is an argument that attempts to overawe an opponent into accepting a conclusion, appealing to ones feelings of modesty. Overall, â€Å"A Modest Proposal† by Jonathon Swift is a very well created satire. Not only does this piece of literature draw one into the progressions of tones and use of strong and witty language, but there are statistics and data to make this argument favorable. In the end of Swift’s writing, he tells us that he has nothing to gain economically, being that he has no children. With this act, one can see that the author is being more sincere than previously believed. The author uses effective and ineffective ways of using different literary tools and tricks that draw many people into is proposal and to see the ultimate reason for it. The rhetorical appeals, structure, tone, discrimination and many details make this writing so intriguing. This absurd request is a way in which to better attempt an economical change in Ireland and to reveal what others wish to not see in the country. His method to get there is one of great success. Work Cited: Swift, Jonathon. â€Å"A M odest Proposal. † Reading Literature and Writing Argument. Eds. Missy James and Alan P. Merickel. 4th ed. Boston: Longman/Pearson, 2011. 238-44. Print. How to cite Satire of Modest Proposal, Essay examples

Peyote Religion In Sundown By John Joseph Essays - Religion

Peyote Religion In Sundown by John Joseph Mathew Chal the main character was born into a time and place where his culture was being destroyed. His blood is not pure Osage, mixed with white, but the Indian blood is powerful inside him. The blood that runs through him takes him to days of the past, days lost, heritage lost, role models lost, and a dying culture. Chal is a perfect example of a lost sole. Throughout this book, Sundown, by John Joseph Mathew, Chal is faced with choices. Challenges, may be the right word though. His father John named him Chal, short for challenge, "He shall be a challenge to the disinheritors of his people," (Pg. 4). Maybe his name led his life in other directions, and challenges were to fill his life. In his choices he is torn between the mixed bloods that are running through him. The Indian blood and culture, in the expanding, dominating, white mans society. Chal is filled with confusion, it the theme of the book and his character. He represents that generation of turmoil. The transition to white America, through his euro-american education and loss of the warrior role has clouded his mind. The novel starts with Chal as a young child daydreaming of fighting the English. He is a General, a warrior, leading the charge and then giving an inspirational speech to his men. Chal knows only the stories of the past, going on hunts and wars against "England." The wars against England taught to him by his father. He knows nothing of the roles of the future because his culture has no role models of Eastern white dominated society to come. He hasn't grown up with the Eastern white society role models. Chal sees his father trying to be a businessman, and he enjoys listening to that kind of talk throughout his life. It may be because his father is the only role model he has seen. For the most part though while he is young and throughout the book he looks to the past, those glorious stories of the past. Chal is educated in the euro-american way trying teach the Indian out of him. He is confused of what his glorious past really was. Were his people really the savages and pagans he grew up hearing about in school. He grows up ashamed of his Indian blood, and tries to adapt to the white society. Chal's friends at college embarrass him. His friend, Son on His Wings, accepts his Indian and is proud. Chal joins the Air Force because that is American and it may replace some his lost feelings of the warrior role, but he is still filled with torment. Toward the end of the story you believe Chal may finally be all right when he visits the sweat lodge with Son on His Wings. It is there when Chief Watching Eagle spoke of the "roads" to White Deer during the sweat lodge ritual. He was not only trying to ease the pain of the loss of Running Elk, White Deer's son; he was explaining the choices one must make according to their heritage or blood. It was as if he was speaking to Chal directly. "Long time ago there was one road and People could follow that road. They said, 'There is only one road. We can see this road. There are no other roads.' Now it seems that road is gone, and white man has brought many roads. But that road is still there. That road is still there, but there are many other roads there too. There is a White man's road, and there is road which comes off from forks. The bad road which no white man follows - the road which many of the People follow, thinking it is the white man's road. People who follow this road say they are as the white man, but this is not white man's road. People who follow this road say that road of Indian is bad now. But they are not Indians anymore, these people who follow that road...The road of our People is dim now like buffalo trail across the prairie..." (271). Watching Eagle was not only speaking of Running Elk, but of all Indians. This directly applies to Chal. Obviously there was a great problem with the men of that age, not having direction. Running Elk was Chal's boyhood friend and schoolmate who had the same problems with the changing times. They had lost their warrior role; they only had

Free Essays on The Healing Bridge

I think it all began during the January of 1999, just 18 and recently married to a guy 10 years older; I was inexperienced and scared. Being brought up in a protected environment, I was suddenly thrown into a situation where I had to take upon a lot of responsibility. My husband expected a lot from me and I was not going to be able to fulfill his aspirations. Sensing his unhappiness I felt blamable but helpless. I was in a new place, a new culture with a person whom I’d known just for a week. That’s when the pain started... Back then I just knew that I would like to get the pain taken care of, so I kept going to different doctors and they kept trying different procedures, tests and medications. Drugs would help, but only temporarily. Then the pain would manifest again in another way, in a new form, but in a different area of my body. Eventually I was ready to really dig into what was going on with this pain in my body. It was then that I realized that there were some very significant aspects of my physical problems, that I had not been aware of before, clearly involved my emotions, and also who I am. This awareness entirely changed my perception of myself. One morning I came in for my usual appointment of therapy. The therapist started to loosen up my body, beginning with the head and neck and upper spine. He was holding my upper body and rolling it around when all of a sudden something happened inside of me. Some really big jolt occurred. I felt it physically, it was a very deep pain in my abdomen, very low in the pelvic area, and it just ripped through my body. And there was a really intense emotional content to it. It shook me up. I don’t know how to describe it†¦ it was just so powerful. I was sort of in a daze while I went through the rest of that session. All I could tell him was, â€Å"It hurts!† After the appointment I went out to my car and I just sat there and wailed. All afternoon, I just sat there. I co... Free Essays on The Healing Bridge Free Essays on The Healing Bridge I think it all began during the January of 1999, just 18 and recently married to a guy 10 years older; I was inexperienced and scared. Being brought up in a protected environment, I was suddenly thrown into a situation where I had to take upon a lot of responsibility. My husband expected a lot from me and I was not going to be able to fulfill his aspirations. Sensing his unhappiness I felt blamable but helpless. I was in a new place, a new culture with a person whom I’d known just for a week. That’s when the pain started... Back then I just knew that I would like to get the pain taken care of, so I kept going to different doctors and they kept trying different procedures, tests and medications. Drugs would help, but only temporarily. Then the pain would manifest again in another way, in a new form, but in a different area of my body. Eventually I was ready to really dig into what was going on with this pain in my body. It was then that I realized that there were some very significant aspects of my physical problems, that I had not been aware of before, clearly involved my emotions, and also who I am. This awareness entirely changed my perception of myself. One morning I came in for my usual appointment of therapy. The therapist started to loosen up my body, beginning with the head and neck and upper spine. He was holding my upper body and rolling it around when all of a sudden something happened inside of me. Some really big jolt occurred. I felt it physically, it was a very deep pain in my abdomen, very low in the pelvic area, and it just ripped through my body. And there was a really intense emotional content to it. It shook me up. I don’t know how to describe it†¦ it was just so powerful. I was sort of in a daze while I went through the rest of that session. All I could tell him was, â€Å"It hurts!† After the appointment I went out to my car and I just sat there and wailed. All afternoon, I just sat there. I co...

How to Make Non-Toxic, Realistic Fake Snow in Minutes

How to Make Non-Toxic, Realistic Fake Snow in Minutes You can make fake snow using a common polymer. The fake snow is non-toxic, feels cool to the touch, lasts for days, and looks similar to the real thing. Key Takeaways: Make Fake Snow One of the easiest ways to make realistic fake snow is to mix sodium polyacrylate and water.The resulting snow is white, wet, fluffy, and cool to the touch. It is also non-toxic and reuseable.Sodium polyacrylate is a polymer used in disposable diapers, growing toys, sanitary napkins, and gel water sources. Fake Snow Materials You only need two simple materials for this project: Sodium polyacrylateWater What You Do There are a couple of ways to get the ingredient necessary to make fake polymer snow. You can purchase the fake snow or you can harvest sodium polyacrylate from common household sources. You can find sodium polyacrylate inside disposable diapers or as crystals in a garden center, used to help keep soil moist.All you need to do to make this type of fake snow is add water to the sodium polyacrylate. Add some water, mix the gel. Add more water until you have the desired amount of wetness. The gel will not dissolve. Its just a matter of how slushy you want your snow.Sodium polyacrylate snow feels cool to the touch because it is mainly water. If you want to add more realism to the fake snow, you can refrigerate or freeze it. The gel will not melt. If it dries out, you can rehydrate it by adding water. Helpful Tips Fake snow is non-toxic, as you would expect from a material used in disposable diapers. However, dont purposely eat it. Remember, non-toxic is not the same as edible.When you are done playing with fake snow, its safe to throw it away. Alternatively, you can dry it out to save and re-use.If you want yellow snow (or some other color), you can mix food coloring into the fake snow.If you want drier snow, you can reduce the amount of water the polymer can absorb by adding a small amount of salt.Skin contact with the artificial snow could potentially cause a irritation or a rash. This is because leftover acrylic acid could remain as a by-product of sodium polyacrylate production. The level of acrylic acid is regulated for disposable diapers to be less than 300 PPM. If you choose another source for the chemical that isnt intended for human skin contact, the resulting snow could be itchy. About Sodium Polyacrylate Sodium polyacrylate is also known by the common name waterlock. The polymer is a sodium salt of acrylic acid with the chemical formula [−CH2−CH(CO2Na)−]n. The material is superabsorbent, with the capacity to absorb 100 to 1000 times its weight in water. While the sodium form of the polymer is most common, similar materials exist substituting potassium, lithium, or ammonium for sodium. While sodium-neutralized polymers are most common in diapers and feminine napkins, the potassium-neutralized polymer is more common in soil amendment products. The U.S. Department of Agriculture developed the material in the early 1960s. Researchers sought a material to improve water retention in soils. Originally, the scientists developed a hydrolyzed product made from a starch-acrylonitrile co-polymer. This polymer, known as Super Slurper, absorbed over 400 times its weight in water, but did not release the water back again. Many chemical companies worldwide joined the race to develop a super absorbent polymer. These included Dow Chemical, General Mills, Sanyo Chemical, Kao, Nihon Sarch, Dupont, and Sumitomo Chemical. The first commercial products resulting from the research were released in the early 1970s. However, the first applications were for adult incontinence products and feminine sanitary napkins, not soil amendments. The first use of a super absorbent polymer in a baby diaper was in 1982. Sources of Sodium Polyacrylate for Fake Snow Disposable diapers and garden crystals arent the only sources of sodium polyacrylate for fake snow. You can harvest it from the following products. If the particle size is too big for snowflakes, pulse the wet gel in a blender to reach the desired consistency. Pet padDrown-free insect and bird feedersSanitary napkinAnti-flood bagGel hot or cold packGrowing toysInside waterbedsWater blocker for wire and cables

Ramsey MacDonald owns a small hotel on the outskirts of Nottingley and Essay

Ramsey MacDonald owns a small hotel on the outskirts of Nottingley and employs Atif as the resident manager. Atif works hard at his job but can be very disorgan - Essay Example On the day of the visit, Atif put in an extra special effort and ensured that everything was well organised. Ramsey’s friends duly helped out in the restaurant as requested. The representative from the hotel guide was very pleased and gave the hotel an excellent review. Ramsey was delighted and promised to pay  £50 to each of his friends who had helped out. Atif has recently been using all of his free time to redecorate his bedroom in the hotel at his own expense. Ramsey was so impressed with the finished bedroom that he has promised to pay Atif  £100 to cover the cost of the materials used. However, Ramsey has now received a very good offer for the hotel and so has decided to sell it. He is therefore now refusing to pay the  £500 bonus promised to Atif or any of the money which he promised to pay to his friends. Ramsey is also denying any obligation to pay Atif the  £100 which he promised him in respect of the redecoration of the bedroom. The town council, concerned about the future of the hotel under a new owner, has also now refused to pay Atif the promised  £300 bonus. According to Garner (2004), â€Å"A contract is an agreement between two or more parties creating obligations that are enforceable or otherwise recognizable at law,† (p. 341). As explained by Marsh and Soulsby (1987), in order for the court to intervene and make any person liable for damages in case one of the parties breaks the agreement, the said agreement must have the following important features: parties must have the intention to create legal relations; there must be a firm agreement between the parties showing the unconditional acceptance of an offer; a consideration wherein each of the parties provide or promise to provide something in exchange for what the other is to provide; for certain types of agreement, it must be in a specified form to be valid; it must be in definite terms in order for the courts to determine what the parties have decided upon; and

Synopsis and a critique Assignment Example | Topics and Well Written Essays - 500 words

Synopsis and a critique - Assignment Example Coppa asserts that Pius XI, according to the evidence, was outspoken about the problems of racism and anti-Semitism in Nazi Germany and fascist Italy. Against the advice from those closest to him, he condemned Hitler and his practices on numerous occasions. He, also, gives detailed account of how his opponents in fact undermined his intentions and worked toward Vatican’s policies of silence. With his death, Eugenio Pacelli, Secretary of State, was elected to be the new pope, and he reigned the Catholic Church till 1958 as Pius XII. New pope was quite different from Pius XI. He openly stressed many times that he liked German people, which was reflected in the fact that his housekeeper, private secretary, and confessor all hailed from the Reich. He, also, was punctual and well organized, a characteristic often associated with Germans. Pius XII implemented new policy toward both Germany and Italy, a one of impartiality and appeasement toward Nazis and fascist. Coppa writes that â€Å"Pius refused to alter his impartial stance even though he received repeated reports of Nazi crimes against humanity in 1940 and 1941, and a series of sources within and outside the church alerted him to the genocide of the Jews. In May of 1942, Pius was told of the mass extermination (uccisioni in massa) of Jews from Germany, Poland, and the Ukraine while the military chaplain Father Pirro Scavizzi personally reported to Pius of the almost-total elimination of Jews through mass murder.† His position never changed and scholars are still looking for answers to why that was the case. Coppa uses pope’s own words to clarify the issue- â€Å"First, there are over forty million German-speaking Catholics. If I should denounce the Nazis by name as you desire and Germany should lose the war, Germans everywhere would feel that I had contributed to the defeat, not only of the Nazis but Germany herself†¦.Second, if I denounce the Nazis by name I must

Accounting Ratio Analysis And Comparison Of Companies Finance Essay

Accounting Ratio Analysis And Comparison Of Companies Finance Essay 1) Question 1 Find the most recent financial statements for two companies of same company industry which are listed in KLSE (Kuala Lumpur Stock Exchange).Evaluate the financial position and performance for each of these two companies using accounting ratio analysis. You are required to compute and compare the accounting ratio between these two companies, and conclude the results of your finding. The limitations or problems of using accounting ratios for performance analysis should be included in your conclusion. entify and discuss three different ways for transferring capital or fund from saves to borrowers in the financial market. Table of content Page Questions 1 Introduction for question 1 3 7 Calculation for Gamuda and WCT Berhad 8 14 The ratio comparison between two companies 15 16 Conclusion 17 Question 2 18 24 Bibliography 25 Appendix 26 2) Question 1 Introduction Accounting ratios are the ratios that expressed and counted based on the financial statement of a company. Besides that, accounting ratios are also useful indicators of a firms performance and financial situation. Most of the ratios can be calculated from the information that is provided by the financial statements. Each type of accounting ratio provides an important data about a firms ability to repay its debts, its financial standing, and the potential for profit and how valuable stocks or investments in the company are. On top of that, accounting ratio also can be used to analyze the calculation and comparison of ratios which are derived from the information in a companys financial statements. Accounting ratios are a valuable and easy to interpret the numbers that is found in statements. When computing financial relationships, a good indication of the companys financial strengths and weaknesses becomes clear. Accounting ratio analysis the ratios into categories which tell us about different facets of a companys finances and operations. The following types of accounting ratios that is used, Liquidity ratios Asset turnover ratios Financial leverage ratios Profitability ratios Dividend policy ratios The purpose of an accounting ratio is to make financial reports regarding the performance of a company in a specified period normally by a year. These financial reports are later made available to the tax authorities, investors and creditors of the firm. Accounting ratios are calculated and grouped into five different categories for measuring the five different aspects of the business performance. There are five aspects of business measured by an accounting ratio. Profitability of company Liquidity of company Asset management of company Debts management and gearing of company Market value of investment to ordinary shareholders and common stockholders The formula for accounting ratio that are used to measure each aspect or area of business by accounting ratios are Profitability of company Gross profit markup (%) = Gross profit à · Cost of goods sold 100 Gross profit margin (%) = gross profit à · net sales value 100 Operating profit margin (%) = operating profit before interest and before taxation à · net sales valuex100 Profit margin on sales (%) = net income available to common stockholders à · Net sales value -100 Basic earning power (BEP) = operating profit before interest and before taxation à · total assets 100 Return on total assets (ROA) = net income available to common stockholders à · total assets 100 Return on common equity (ROE) = net income available to common stockholders à · common equityx100 Liquidity of company Current ratio/working capital ratio = current assets à · current liabilities Liquid ratio/quick ratio/acid-test ratio = liquid assets à · current liabilities Asset management of company Inventory turnover or stock turnover = cost of salesà · average stock value OR cost of salesà · closing stock value Total assets turnover = net sales à · total assets Debtor ratio = debtor à · credit sales Days sales outstanding (DSO) = debtor à · credit sales 365 days Debts management and capital gearing of company Debts ratio = total debts à · total assets Debts equity ratio = total debts à · common equity Times interest earned = profit before interest and before taxation à · interest charges Market value of investment to ordinary shareholders/common stockholders Earnings per share = net income available to common stockholders à · number of ordinary shares in issue Price/earnings ratio = market price per ordinary share à · earnings per share Earnings yield = gross earnings per share à · market price per ordinary share 100 Market price/book value ratio = market price per ordinary share à · net book value per ordinary share Besides that, there are three methods to compare accounting ratios for business performance measurement which are inter-temporal comparison between two periods, inter-firms comparison between two companies and comparison with industry averages. The two companies that are selected for business performance measurement are Gamuda Berhad and WCT Corporation Berhad. Gamuda Berhad is a Malaysia-based investment holding company which is the most famous in civil engineering construction. The industry of this company also operates in three business segment which involves engineering and construction, construction of highways and bridges, airfield facilities, railway, water treatment plants, dams and general and trading services. WCT Berhad is a Malaysia-based company which provides the provision of engineering services. The Company operates in three segments: civil engineering and construction, civil engineering works specializing in earthworks, infrastructure works, and property development. The information for these two companies which are required for business performance is measurement by accounting ratios in income statements and balance sheets of the two companies. Ratio with formula (Profitability of company) Calculation for 1st company (Gamuda Berhad) Calculation for 2nd company (WCT Berhad) Gross Profit Markup(%)= Gross profit=2455143000-1580125000-363348000-8595000-19973000-19260000-40866000 =RM422976000 Cost of goods sold =1580125000+363348000+8595000+19973000+19260000+40866000 =RM2032167000 =20.81% Gross profit =RM354659000 Cost of goods sold =RM4311943000 =8.23% Gross Profit Margin(%)= Net sales value=2455143000-0 =2455143000 Gross profit=2455143000-1580125000-363348000-8595000-19973000-19260000-40866000 =422976000 =17.23% Gross profit =RM354659000 Net sales value =sales return inwards =4666602000-0 =RM4666602000 =7.60% Operating Profit Margin On Sales(%)= Net sales value=2455143000-0 =2455143000 Operating profit before interest and taxation =259852000 =10.58% Operating profit before interest and taxation =RM244145000 Net sales value =sales return inwards =4666602000-0 =RM4666602000 =5.23% Profit Margin On Sales(%)= Net income available to common stockholders =280693000 Net sales value =2455143000-0 =2455143000 =11.43% Net income available to common stockholders =RM147098000 Net sales value =sales return inwards =4666602000-0 =RM4666602000 =3.15% Basic Earning Power= Operating profit before interest and taxation =RM259852000 Total assets =total non-current assets + total current assets =2347737000+4203173000 =RM6550910000 =3.97% Operating profit before interest and taxation =RM244145000 Total assets =total non-current assets + total current assets =RM1925297000+RM2553187000 =RM4478484000 =5.45% Return On Total Assets= Net income available to common stockholders =RM280693000 Total assets =total non-current assets + total current assets =2347737000+4203173000 =RM6550910000 =4.28% Net income available to common stockholders =RM147098000 Total assets =total non-current assets + total current assets =RM1925297000+RM2553187000 =RM4478484000 =3.28% Return On Common Equity= Net income available to common stockholders =RM280693000 Common equity =Ordinary share capital + Reserves =2025888000+1231637000 =RM3257525000 =8.62% Net income available to common stockholders =RM147098000 Common equity =Ordinary share capital + Reserves + Share premium =388856000+369256000+492134000 =RM1250246000 =11.77% Ratio with formula (Liquidity of company) Calculation for 1st company (Gamuda Berhad) Calculation for 2nd company (WCT Berhad) Current Ratio= Current assets =RM4203173000 Current liabilities =RM1930241000 =2.18:1 Current assets =RM2553187000 Current liabilities =RM1807550000 =1.41:1 Acid-test ratio= Liquid assets =Current assets Inventories =4203173000-79738000 =RM4123435000 Current liabilities =RM1930241000 =2.14:1 Liquid assets =Current assets- Inventories =2553187000-113709000 =RM2439478000 Current liabilities =RM1807550000 =1.35:1 Ratio with formula (Asset Management of Company) Calculation for 1st company (Gamuda Berhad) Calculation for 2nd company (WCT Berhad) Inventory Turnover= Cost of goods sold=1580125000+363348000+8595000+19973000+19260000+40866000 =RM2032167000 Closing inventories or stock =RM79738000 =25.49 times Cost of goods sold =RM4311943000 Closing inventories or stock =RM113709000 =37.92 times Total Assets Turnover= Net sales value =sales return inwards =2455143000-0 =RM2455143000 Total assets =total non-current assets + total current assets =2347737000+4203173000 =RM6550910000 =0.37 times Net sales value =sales return inwards =4666602000-0 =RM4666602000 Total assets =total non-current assets + total current assets =RM1925297000+RM2553187000 =RM4478484000 =1.04 times Debtor Ratio= Debtor or receivables =RM1607772000 Credit sales =RM2455143000 =0.65:1 Debtor or receivables =1206971000+265684000 =RM1472655000 Credit sales =RM4666602000 =0.32:1 Day Sales Outstanding= Debtor or receivables =RM1607772000 Credit sales =RM2455143000 =237.25 days OR =0.65-365days=237.25 days Debtor or receivables =1206971000+265684000 =RM1472655000 Credit sales=RM4666602000 =116.8 days or =0.32-365days=116.8 days Ratio with formula (Debts Managements of company) Calculation for 1st company (Gamuda Berhad) Calculation for 2nd company (WCT Berhad) Debts Ratio= Total debts =total non-current liabilities + current liabilities =1312946000+1930241000 =RM3243187000 Total assets =total non-current assets + total current assets =2347737000+4203173000 =RM6550910000 =0.50:1 Total debts =total non-current liabilities +current liabilities =1183958000+1807550000 =RM2991508000 Total assets =total non-current assets + total current assets =1925297000+2553187000 =RM4478484000 =0.67:1 Debts Equity Ratio= Total debts =total non-current liabilities + current liabilities =1312946000+1930241000 =RM3243187000 Common equity =Ordinary share capital + Reserves =2025888000+1231637000 =RM3257525000 =1:1 Total debts =total non-current liabilities +current liabilities =1183958000+1807550000 =RM2991508000 Common equity =Ordinary share capital + Reserves + Share premium =388856000+369256000+492134000 =RM1250246000 =2.39:1 Times Interest Earned Or Interest Cover= Operating profit before interest and taxation =RM259852000 Interest charge or cost =RM43813000 =5.93 times Operating profit before interest and taxation =RM244145000 Interest charge or cost =RM50308000 =4.85 times Ratio with formula (Market Value of Investment to Stockholders of Company) Calculation for 1st company (Gamuda Berhad) Calculation for 2nd company (WCT Berhad) Earnings Per Share= Net income available to common stockholders =RM280693000 Number of ordinary shares issue or ordinary share capital =2025888000 shares =RM 0.14 Net income available to common stockholders =RM147098000 Number of ordinary shares issue or ordinary share capital=388856à ·RM0.50=777712 shares =RM0.19 Price Earnings Ratio= Market price per ordinary share=RM3.20 Earnings per share=RM0.14 =22.86 times Market per ordinary share=RM2.60 Earnings per share=RM0.19 =13.68 times Earnings Yield= Gross earnings per share =100à ·75 Rm0.14 =0.187 Market price per ordinary share=RM3.20 =5.83% Gross earnings per share =100à ·75-RM0.19 =0.253 Market price per ordinary share=RM2.60 =9.74% Market Price Per Book Value= Market price per ordinary share=RM3.20 Net book value per ordinary share =Common equity / ordinary share in issue = Common equity =Ordinary share capital + Reserves =2025888000+1231637000 =RM3257525000 Number of ordinary shares issue or ordinary share capital =2025888000 shares ==Rm1.61 = =1.99:1 Market price per ordinary share=RM2.60 Net book value per ordinary share =common equity / ordinary share in issue Common equity =Ordinary share capital + Reserves + Share premium =388856000+369256000+492134000 =RM1250246000 Number of ordinary shares issue or ordinary share capital =388856à ·RM0.50=777712 shares ==RM1.61 = =1.61:1 Profitability of company: Gross profit markup, Gross profit margin, Operating profit margin, Basic earning power, and return on total asset of Gamuda Berhad is higher than the second company that is WCT Berhad. This indicates that the company was effective in controlling the expenditures. Besides that, for Basic earning power and Return on common equity, the first company is lower than the second company. This is because the ineffective use of assets and capital employed in business activities are at higher costs to reduce the production volume and sales volume. Liquidity of company The current ratio and the Acid test ratio for the companies Gamuda Berhad is higher than the second company WCT Berhad because the has the Gamuda Berhad highest amount of current assets and also highest amount of liquid assets that can be used to finance its current liabilities so that the company has highest liquidity to finance its short-term liabilities and also got chances to face short-term liabilities financial problem. Asset Management of company The inventory turnover for the Gamuda Berhad is much lower than the WCT Berhad because Gamuda has a slow stock turnover in the business which kept in store was very slowly taken out for resale, resulting large amount of stock accumulated to tie up money, which were having poor inventory management. For total assets turnover, the first company is low than the WCT because the Gamuda has a lowest sales from the assets indicating that company was inefficiently using the assets in business. On top of that, debtor ratio and day sales outstanding of the first company is higher than the WCT because the company got longer credit time to collect money slowly from debtors so that the balance is collected to tie up money and thus, having poor management on debtor collection. Debts Management The debts ratio for the Gamuda is less than the second company because the Gamuda got lower debts burden with smaller amount of debts and also bearing low interest cost to the available profit. Therefore, times interest earned for the Gamunda is much higher than the WCT because it has a bearing high interest charges to the available profit. Market value of investment to stockholders Earnings per share and earnings yield for the Gamuda is less than the WCT which indicates that the company has less growth in business profit , resulting lower net income available to each unit share , being less attractive and lower value to the common stockholders. Due to lower earnings per share, stockholders have to use more times of profit earning, more times of net cash inflow and a longer period to recover back their share investment. Besides, the price earnings ratio for the Gamuda is higher than the WCT. Market price per book value for the Gamuda is higher than the WCT that shows the company share price has inequitably risen up above its real asset value or book value for not being realistic to the stockholders. Conclusion As a conclusion, I will like to choose WCT Berhad because this company has a better performance in the business and here are some goods points of this company. On top of that, the WCT berhad company also have the highest Basic earning power and Return on common equity which is meant to increase the production volume and sales volume at lower costs as well as to increase the profit earning. Other than that, WCT berhad also has the is highest Inventory turnover which indicates a fast stock turnover where the goods purchased kept in store are fast taken out for resale so that the stock is not accumulated and money is not tied up with stock. Thus, the WCT berhad company did not face any short-term liabilities, and they are stable. The different firms using different financial policies which are also the comparison problems in inter firm. Question 2 Definition Financial markets are an organization for the people who are shortcoming of money and want to borrow money. Besides that, each financial market has different ways of financial methods in terms of its maturity and the asset backing it. Different financial markets have different ways of serving customers and operate different types the country. Financial markets dissent from physical asset markets because it is called tangible asset markets or real asset markets to deal with the tangible and physical manufacture such as machinery, computer and other physical assets. Physical asset market and financial market can also work as the future or spot market. Future market defines as the deals being sold for on the future delivery at some future date such as a year into the future whereas the spot market is define as the deals is being bought on the spot delivery within a few days. There are many types of various in financial market for an example such as money markets, capital markets, mortgage markets, consumer credit markets, primary markets, secondary markets, initial public offering (IPO) market and last but not least private market.   Money markets: Money market is a market dealing with short-term financial methods. Money market methods are include bankers acceptance, commercial paper, federal funds, treasury bills, and highly liquid debt securities which funds are loaned or borrowed for a short periods of less than one year. Money market is a segment of the financial  market in which financial instruments with high liquidity and very short maturities are traded. The money market  is used by participants as a means for borrowing and  lending in the short term, from several days to just under a year. Money markets do not have a fixed physical location. A money market fund is also called a mutual fund that empower in money market securities. Capital markets: Financial market that works as a conduit for demand and supply of primarily long term debt and equity capital. It channels the money provided by savers and depository institutions banks, credit unions, and insurance companies to the borrowers and investors through a variety of financial instruments called securities. It transports the money that is provided by depository institution and savers to invest or borrow through choices of financial methods called securities. Capital market also runs as an interchange for trading existing that request on capital in the form of shares or stock. Mortgage markets: A market for loans to people and organizations buying property a market for mortgages those has been bought by financial institutions and are then traded as asset backed securities. This arrangement will sum up the transaction in commercial mortgage, multi-family residential mortgage, home mortgage and farm mortgage. The holders of mortgage including the lenders that both originate the investment and change them as assets, such as thrift institution, commercial banks and insurance companies as well as those institutions that gets the loans in the secondary market.   Consumer credit markets: Consumer credit market is about a borrower uses any line of credit or loan to purchase goods services at the retail level. The cost of credit is the additional amount, over and above the amount borrowed, that the borrower has to pay. It includes interest, arrangement fees and any other charges. Consistently, consumer credit finances can be use at any asset that it will minimize quickly and it is not use for investment purpose. Loans for education, vacation or cars are also examples of consumer credit. However, consumer credit does not include loans that are for real estate. Primary markets: Primary market consists of the first buyers and issuer of the issues. Investors who buy shares in a new security issue meant they are buying from the primary market. Besides that, investors who purchase bonds and stocks in the primary market normally are not refundable commissions because the fees for selling the issue are built into its price and collected by the issue. Secondary markets: This market in which the existing and already purchases a security or other financial assets are able to trade among the investors after they have been issued by the institutions or corporation. Secondary markets is a market which investor buys a security from another investor rather than the issuer, the consequences to the original issue in the primary market is also called as aftermarket.   Initial public offering (IPO) market: IPO is the first sale of stock to a company. Furthermore, the most common reason is by offering securities or shares to the public for the first time. The most difficult part of an IPO is to find out the proper price to initially proffer the new stock. If the price is too high, the buyers will not be interested but if its too low, the company will sacrifice a lot of money that might have been made if others are higher. Private market: Private markets in financial transactions are worked out directly and privately between the two parties without going to the public where the transactions may be structured in any manner to those who appeals to the two parties. The three different ways for transferring capital or fund from savers to borrowers in the financial market are direct transfer from savers to borrowers, indirect transfer from savers to borrowers through investment banking house and indirect transfer from savers to borrowers through a financial intermediary. Direct transfer from savers to borrowers: Direct transfer takes place when an organization issues and sells its stock or shares immediately to the savers without passing through any other financial institution so that the organization as borrower immediately delivers its securities to the saver who in turn gives money to the organization. By this, the fund or capital is immediately transferred from savers to the organization or borrower. Issue corporations securities to Business Corporation -Æ’Â   Savers (Borrower)   Æ’Å ¸Ã‚  (Money Lender)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Receive capital of fund from Indirect transfer from savers to borrowers through investment banking house: This takes place when investment underwrites the issuance of a cooperations securities and where the contributors bank serves as a middleman to facilitate the issuance by buying the securities of the organization and then resell the same securities of the organization to the savers so that the money paid by the savers for buying of organizations securities are passed by the investment bank and will be received by the organization which acts as borrower. Issue Corporations Resell corporations Securities to Securities to Business Æ’Â   Investmentâ‚ ¬Ã‚   -Æ’Â  Ã¢â€š ¬Ã‚  Savers (Money CorporationÆ’Å ¸ Banking House Æ’Å ¸ Lender) Receive fund from Receive fund from Indirect transfer from savers to borrowers through a financial intermediary: This takes place when a financial intermediary also know as a bank or a mutual fund that is obtain fund that are from the savers and by issuing its own certificate or securities of deposit to the savers. Then, the financial intermediary uses the fund that is collected from the savers to buy and to hold the securities of other company as contributors. In this case, the fund or the capital is transferred from the saver to financial intermediary when the saver has pay the money to the financial intermediary in interchange for receiving a certificate if securities or deposit issued by the financial intermediary. Therefore, the financial intermediaries will incredibly increase the efficiency of money and capital markets. This is shown in the following diagram:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Issue corporations securities to  Issue intermediarys own securities to Business Corporation -Æ’Â  Ã¢â€š ¬Ã‚  Financial intermediary Æ’Â  Savers (Borrow) Æ’Å ¸Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Æ’Å ¸ (Money Lender)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Receive fund from  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Receive fund from Investment banking house: The investment banking house runs by buying all the new security issue from a company or organization at one price and selling the issue with a smaller unit to the investing public at a inadequate high price to cover the expenses of sale and earn a profit. The company or corporation that distributes and underwrites the new issue of business organizations securities to assist the organization to collect fund for financing.   Financial intermediaries: Since the financial intermediaries are usually very large and they have gain economies of scale in analyzing the creditworthiness of those borrowers potential in collecting and processing loans. There are many type or various in financial intermediaries and those are commercial banks, savings and loan associations, mutual savings fund, credit unions, pension funds, life insurance companies and mutual funds. Commercial banks: Commercial banks are totally different from investment banks because commercial banks, they lend out money to the borrowers whereas the investment banks, they assist business company to raise fund or capital from the savers. Savings and loan associations: Savings and loan associations served residential and commercial mortgage borrowers where they likes to collect money or funds from those small savers and lend out this money to his house buyers or any other types of borrowers. Mutual savings fund: Mutual savings fund and savings and loan associations are almost the same process because they also accept savings from individual savers and lend out the money on a long-term basis to his house buyers and consumers.   Credit unions: This is a cooperative association which members are supposed to have something in common, so that the association collects funds from members and then lend to other members who need money to finance their house mortgage, house improvement and auto purchases. Pension funds: This is a retirement plans that given by the organization or government agencies for their employee   and administered primarily from the life insurance companies or the trust departments of commercial banks. Life insurance companies: Life insurance companies collect funds in the term of annual premiums and then invest back in to real estate, bonds, mortgages and shares, after that they will make their payments to the beneficiaries of the insured parties. Mutual funds: Mutual funds will collect savings from those savers and then use the savings to buy shares, short-term debt and long-term bonds method

Bang & Olufsen

Bang & Olufsen How the tiny family-owned company Bang and Olufsen survives and prospers in spite of all the multi-nationals can do. Consumer electronics is dominated by multi-nationals who believe growth and acquisitions are the keys to survival in this price-point conscious industry. So how come in a remote country town in the north west of Denmark, an organisation with a mere 3000 employees is prospering and charging premium prices? B&0 is still in the hands of the families who started it back in 1925. Young Peter Bang and Svend Olufsen were both keen experimenters from boyhood with electricity and their first radios were built in the attic of the Olufsen house. Right from the start the company followed a philosophy of innovation. The company has always striven to set higher standards of performance than its competitors and, as a consequence found itself moving inevitably towards the upper-end of the market. Along the way styling became an important element of the B&O philosophy. A number of their products are in the permanent design collection of the Museum of Modern Art in New York. The company uses freelance designers who are answerable to the product strategy department who are responsible for marketing planning and the technical feasibility of ideas. It took more than style, however, to give Bang & Olufsen its unique positioning in the marketplace. A long time ago it was realised that the key to survival lay in offering products which were not only different but had qualities which could not be found elsewhere. Back in 1938 they produced a radio with a preset programming function for 16 stations. In 1943 a B&O gramophone had an option for rogramming a 3 minute pause between tracks – time to allow you to bow to your new dancing partner! The first B&O TV receiver appeared in 1952. In 1951 they produced the world's first stereo cartridge. They invented the HX professional recording system which increases the headroom available for recording high frequency signals on all tape types. This system is now found in most good quality tape decks. In 1982 they int roduced the Beolink system which gives round the house sound and round the house remote-control. For all their small size Bang and Olufsen produce practically everything themselves. They even ake much of their own production equipment. Such are their capabilities that they supply injection moulding equipment to other manufacturers and have developed such diverse products as an insulin pen and extension units for telephone switching exchanges. Their entry into the telephone receiver business grew out of a contract to develop a new standard telephone for Danish Telecom. Since then they have sold over 200, 000 units of their elegant and distinctive handsets. The company regularly gets suggestions for new product categories. These are considered but unless there is scope for a distinctively B&0 concept, it will not proceed. Car audio is an example. Because the car stereo has to fit into a set size hole in a console, there is little or no scope to produce a distinctively different product that would fit into the B family of products. Today, B operate in more than 20 countries around the world. Their biggest single export market in terms of combined TV, video and hi-fi sales is the United Kingdom. As mentioned earlier, this equipment does not fit into an existing selling or price-point structure and would face an uphill struggle in the bazaar atmosphere of the typical electrical retailer. This led to the decision to carry out the entire marketing, distribution, and selling (retailing) operations in- house. The calm and luxurious atmosphere of a Bang and Olufsen showroom is highly conducive to the appreciation not only of the performance of the product but the elegant styling too. The arrangement leaves no place for opposition or competitors for, as B&0 will gladly tell you, there aren't any. At the same time, haggling over such mundane matters as discounts seems very much out of place in such surroundings. It’s a far cry from the rest of the industry where the sales staff can usually tell you very little but the price. The showroom decor is simple and subdued to highlight the discreet styling of the equipment. The staff are very much part of this presentation. Fast talking and pressure to buy have no place here. When people are spending the kind of money a B&O system costs (the 1owest priced sound system is listed at $8,000 and you can go over $30,000 with the greatest of ease) they want time to relax and consider their choice very carefully indeed. The staff are there as consultants and advisors. In fact, of course they are very effective sales people who really know their products and ow to present them. There are several six B&O showroom in Australia, all in major capital cities. Sales of audio and video products run 50/50 and in both categories the best sellers are the top models in the range. So who buys this expensive equipment? It is probably easier to say who does not. The true hi-fi buff who loves electronics and fiddling dials & buttons tends to treat B&O with the same disdain that a spor ts-car buff has for an automatic Mercedes family car. Your typical B&O owner is more interested in music and entertainment than electronics. While he r she appreciates the unique styling, sheer quality and performance of the equipment, it is the ability to deliver at the touch of a button or even a glass plate which probably counts for more. B&0 have recognised that the hi-fi industry has made its products so complex and intimidating to the average person that he only become frustrated and confused by all the conflicting advice he receives. Visiting the hi-fi specialist can be an unnerving experience which ends up giving the prospective buyer an inferiority complex. B&0's approach is to put all the complexity to one side. Technology is used to simplify. So, lthough B equipment has possibly the most sophisticated control systems of anyone in the industry, it is, paradoxically, probably the simplest of all to operate. Once you have a B unit in your home you become a prospect for upgra des and extensions. B were the first to bring round-the-house sound and later video which can be controlled from anywhere in the house. Called the Beolink, it first came out in l982 and it is only 10 years later that any other such systems are beginning to appear. Any B model can be extended to give quality hi-fi or video to any room in the house. It is not B po1icy to bring out new models each year. Rather they introduce them to meet market requirements and then upgrade them when and as required. Very often existing equipment can be brought up to the latest specifications. It is also policy that all parts are fully available for 8 years after a model goes out of production. B still regularly gets calls to service equipment over 20 years old. All parts are airfreighted from Denmark. B are too small to develop original products like the CD or even the VCR. Their role is to take such products and enhance them, make them easier to use, and package them very uniquely and attractively. A considerable proportion of B systems are sold with an older model taken as a trade-in. The quality of the products is such that they have a ready second-hand market and owner loyalty is the highest in the industry. An organisation pf just 3000 people in a very high cost country taking on the established giants of the electronics world sounds like an extreme case of wishful thinking. Band and Olufsen will tell that they think differently. They do. And it works. Do you know of any other business which has no direct competitors? Q: Identify, Understand Analyse competition and suggest appropriate competitive positioning strategies.

A Brief Note On Broken Windows Theory And Community Policing

Broken Windows theory is important to community policing. Wilson and Kelling(1989) showed that crime and disorder are related, which shows if police are able to keep the community, environment in order it can prevent crime. Popularity of community policing was high in the late 20th century with 85% having some community policing involvement with police departments (Skogan 2004, which was even more popular with big cites. Community involvement is a key to community policing and at the end of the 20th century 70% of departments had meetings with citizens (BJS 2001). A main concept of community policing is to create a positive relationship with the community. This allows community to help police prioritize its goals and change it tactics which in return the community is able to help itself. Community policing should be unique to the city since each city has its own problem, an example of this would be Los Angeles wouldn t have the same exact tactics as a city in New Hampshire because th ere are different problems and a different culture in each. If community believes its main problem is gang member than the police needs to prioritize that issue but if the community considers its main problem is prostitution this needs to be dealt with by the police. This is much different than traditional policing in the way that the police prioritize their assignments. 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Coral Eugene Watts The Sunday Morning Slasher

Carl Eugene Watts, dubbed â€Å"The Sunday Morning Slasher,† murdered 80 women in Texas, Michigan and Ontario, Canada, from 1974-1982. Watts kidnapped his victims from their homes, tortured them either by slashing them with a knife until they bled to death or drowned them in a bathtub. Early Years Carl Eugene Watts was born in Fort Hood, Texas on November 7, 1953, to Richard and Dorothy Watts. In 1955, Dorothy left Richard. She and Carl moved to Inkstar, Illinois, right outside of Detroit. Dorothy taught art to kindergarten children, leaving much of Carls young development in the hands of her mother. She also started dating again, and in 1962 she married Norman Caesar. Within a few years, they had two girls. Watts was now the big brother, but it was a role he never embraced. Sadistic Sexual Fantasies At the age of 13, Watts suffered from meningitis and high fevers and he was pulled out of school for several months. During his illness, he entertained himself by hunting and skinning rabbits. He also enjoyed constant fantasies that involved torturing and killing girls. School had always been challenging for Watts. When he was in grammar school, he was a shy and withdrawn child and was often teased by the class bullies. His reading skills were far below that of his peers, and he struggled with retaining much of what was being taught. When Watts finally returned to his class after being sick, he was unable to catch up. The decision was made to have him repeat the eighth grade, which humiliated him. Watts, an academic failure, turned into a good athlete. He participated in the Silver Gloves boxing program that helped teach boys respect for themselves and discipline. Unfortunately for Watts, the boxing program stimulated his aggressive desire to attack people. He was constantly in trouble at school for physically confronting classmates, especially the girls. At the age of 15, he attacked and sexually assaulted a woman in her home. She was his customer on his paper route. When Watts was arrested, he told the police he attacked the woman because he just felt like beating someone up. Institutionalized In September 1969, after being prompted by his lawyer, Watts was institutionalized at the Lafayette Clinic in Detroit. It was there that doctors discovered that Watts had an IQ in the low 70s and suffered from a mild case of mental retardation that impeded his thought processes. However, after only three months, he was evaluated again and placed on outpatient treatment, despite the doctors final review which described Watts as paranoid with strong homicidal impulses. The doctor wrote that Watts behavioral controls were faulty and that he displayed a high potential for violently acting out. He ended the report by saying Watts should be considered dangerous. Despite the report, the young and dangerous Eugene Watts was allowed to return to school, his penchant for violence unknown to his unsuspecting classmates. It was a baffling decision that almost assured a deadly outcome. High School and College Watts continued high school after his release from the hospital. He returned to sports and poor grades. He also took drugs, was described as severely withdrawn. He was often disciplined by school officials for being aggressive and stalking his female classmates. From the time that Watts was released to the outpatient program in 1969 until the time he graduated high school in 1973, he only went to the outpatient clinic a few times, despite the fact that school officials were constantly having to deal with his violent episodes. After finishing high school. Watts was accepted to Lane College in Jackson, Tennessee on a football scholarship, but he was expelled after three months for stalking and sexually assaulting women and for being a prime suspect in the unsolved murder of a female student. Second Psychological Evaluation Watts was, however, able to return to college and was even accepted into a special scholarship and mentoring program sponsored by Western Michigan University in Kalamazoo. Before attending the program, he was again evaluated at the outpatient facility and again the doctor said that Watts was still a danger and had a strong impulse to beat up women, but due to patient confidentiality laws, staffers were unable to alert Kalamazoo authorities or officials at Western Michigan University. On October 25, 1974, Lenore Knizacky answered her door and was attacked by a man who said he was looking for Charles. She fought back and survived. Five days later, Gloria Steele, 19, was found dead with 33 stab wounds to her chest. A witness reported speaking with a man at Steele’s complex, who said he was looking for Charles. Diane Williams reported being attacked on November 12, under the same circumstances. She survived and managed to see the attackers car and make a report to the police. Watts was picked out in a line-up by Knizacky and Williams and arrested on assault and battery charges. He admitted to attacking 15 females but refused to talk about the Steele murder. His attorney arranged for Watts to commit himself into the Kalamazoo State Hospital. The hospital psychiatrist investigated Watts background and learned that at Lane College, Watts was suspected of having possibly killed two women by choking them. He diagnosed Watts as having an anti-social personality disorder. Competently Dangerous Before Watts trial for assault and battery charges, he had a court-ordered evaluation at the Center for Forensic Psychiatry in Ann Arbor, Michigan. The examining doctor described Watts as dangerous and felt he would most likely attack again. He also found him competent to stand trial. Carl, or Coral as he started to call himself, pleaded â€Å"no contest,† and received a one-year sentence on the assault and battery charges. He was never charged in the murder of Steele. In June 1976, he was out of jail and back home in Detroit with his mother. The Sunday Morning Slasher Emerges Ann Arbor is 40 miles west of Detroit and the home of The University of Michigan. In April 1980, the Ann Arbor police were called to the home of 17-year-old Shirley Small. She had been attacked and repeatedly cut with an instrument resembling a scalpel. She bled to death on the sidewalk where she fell. Glenda Richmond, 26, was the next victim. She was found near her doorway, dead from over 28 stab wounds.  Rebecca Greer, 20, was next. She died outside her door after being stabbed 54 times. Detective Paul Bunten headed a task force that had been formed to investigate what the newspapers had dubbed the murders of women by The Sunday Morning Slasher, but there was very little for Bunten to investigate. His team had no evidence and no witnesses to a long list of murders and attempted murders that had occurred within five months. When Sergeant Arthurs from Detroit read about the Slasher murders going on in Ann Arbor, he noticed that the attacks were similar to those that he had arrested Carl Watts for when he was a paperboy. Arthurs contacted the task force and gave them Watts name and the details of the crime. Within months, attacks in neighboring Wisteria, Ontario, were being reported that were of the same nature as those in Ann Arbor and Detroit. Adult, Father, and Husband By now, Watts was no longer a failing student with drug problems. He was 27 years old and working with his stepfather at a trucking company. He had fathered a daughter with his girlfriend, and later met another woman whom he married in August 1979, but who divorced him eight months later because of Watts’ strange behavior. More Murders, 1979-1980 In October 1979 Watts was arrested for prowling around in a Southfield, Detroit suburb. The charges were later dropped. Investigators noted that during the previous year, five women in the same suburb were assaulted on separate occasions, but with similar circumstances. None were killed, nor could any of them identify their attacker. During 1979 and 1980, attacks on women in Detroit and surrounding areas became more frequent and violent.  By the summer of 1980, whatever had been keeping Coral Watts uncontrollable urge to torture, and murder women at bay were no longer working. It was as if a demon had possessed him. Additionally, he was under tremendous stress as the investigators from Ann Arbor, and Detroit seemed to be getting closer to solving the identity of the â€Å"Sunday Morning Slasher.† Watts had no alternative: he needed to find a new killing zone. The Windsor, Ontario Connection In July 1980, in Windsor, Ontario Irene Kondratowiz, 22, was attacked by a stranger. Despite her throat being slashed, she had managed to live. Sandra Dalpe, 20, having been stabbed from behind, had also survived. Mary Angus, 30, of Windsor, escaped attack by screaming when she realized she was being followed. She picked Watts out of a photo line-up, but she was unable to identify for certain that her attacker had been Watts. Detectives discovered through highway cameras that Watts car was recorded as leaving Windsor for Detroit after each episode. Watts became Bunten’s leading suspect, and Bunten had a reputation for being a relentless investigator. Rebecca Huff's Book Is Found On November 15, 1980, an Ann Arbor woman contacted police after she became frightened when she discovered that she was being followed by a strange man. The women hid in a doorway, and the police were able to observe the man frantically searching for the woman. When the police pulled the man over in his car, they identified him as Coral Watts. Inside the car, they found screwdrivers and wood filing tools, but their most important discovery was a book that had Rebecca Huff’s name on it. Rebecca Huff had been murdered in September 1980. A Move to Houston In late January 1981, Watts was brought in on a warrant to give a blood sample. Bunten also interviewed Watts, but he could not charge him. The blood test also failed to link Watts to any crimes. By spring, Coral was sick of being hounded by Bunten and his task force and so made a move to Columbus Texas, where he found work at an oil company. Houston was 70 miles away. Watts began spending his weekends cruising the city streets. Houston Police Get a Heads Up, but Murders Continue Bunten forwarded Watts file to the Houston police, who located Watts at his new address, but they were unable to find any evidence linking him directly to any of the Houston crimes. On September 5, 1981, Lillian Tilley was attacked at her Arlington apartment and drowned. Later that same month, Elizabeth Montgomery, 25, died after being stabbed in the chest while out walking her dogs. Shortly afterward, Susan Wolf, 21, was attacked and murdered as she got out of her car to enter her home. Watts Is Finally Caught On May 23, 1982, Watts ambushed roommates Lori Lister and Melinda Aguilar at the apartment that the two women shared. He tied them up and then attempted to drown Lister in the bathtub. Aguilar was able to escape by jumping head first off of her balcony. Lister was saved by a neighbor and Watts was caught and arrested. The body of Michele Maday was found the same day, drowned in her bathtub in a nearby apartment. A Shocking Plea Deal Under interrogation, Watts refused to talk. Harris County Assistant District Attorney Ira Jones made a deal with Watts to get him to confess. Incredibly, Jones agreed to give Watts immunity to the charge of murder, if Watts would agree to confess to all of his murders. Jones was hoping to bring closure to the families of some of the 50 unsolved murders of women in the Houston area. Coral eventually admitted attacking 19 women, 13 of which he confessed to murdering. Admitting There Were 80 More Murders Eventually, Watts also admitted to 80 additional murders in Michigan and Canada but refused to give details because he did not have an immunity agreement for those murders. Coral pleaded guilty to one count of burglary with intent to kill. Judge Shaver decided that the bathtub and the water in the bathtub could be defined as deadly weapons, which would result in the parole board not being able to count Watts â€Å"good conduct time,† for determining his parole eligibility. Slippery Appeals On September 3, 1982, Watts was sentenced to 60 years in prison. In 1987, after a failed attempt to escape prison by slipping through the bars, Watts decided to begin appealing his sentence, but his appeal lacked the support of his attorney. Then in October 1987, unrelated to any of Watts appeals, the court decided that criminals must be told that a â€Å"deadly weapon† finding had occurred during their indictment and that failure to inform the criminal was a violation of the criminal’s rights. Watts Gets a Lucky Break In 1989, the Texas Court of Criminal Appeals decided that, because Watts was not told that the bathtub and the water had been judged lethal weapons, he would not be required to serve his entire sentence. Watts was reclassified as a nonviolent felon which made him eligible for retroactive â€Å"good time earned† equaling three days for every one day served. Model prisoner and confessed murderer  Coral Eugene Watts would be  getting out of prison on May 9, 2006. Victims Say Hell No to Early Release Law As news spread about the possibility of Watts getting out of prison, there was a tremendous public outcry against the good time earned early release law, which eventually was abolished, but, because it was an applicable law during Watts trial, his early release could not be reversed. Lawrence Fossi, whose wife was murdered by Watts, fought the release with every possible legal maneuver he could find. Joe Tilley, whose young daughter Linda fought so hard to live, but lost her battle against Watts, as he held her under the water at the apartment complex swimming pool, summed up how most of the other families felt about Watts: Forgiveness cannot be bestowed when forgiveness is not sought. This is a confrontation with pure evil, with principalities and the powers of the air. Michigan's Attorney General Asks for Help When Mike Cox, who was Michigans Attorney General at the time, found out about the change in Watts sentence, he ran televised spots, asking the public to come forward if they had any information about the women that Watts was suspected of having killed. Texas had a plea arrangement with Watts, but Michigan did not. If they could prove Watts murdered any of the women who had turned up dead over the past few years in Michigan, Watts could be put away for life. Coxs efforts paid off. A Westland, Michigan resident named Joseph Foy came forward and said that Watts looked like the man whom he saw in December 1979 stabbing 36-year-old Helen Dutcher, who later died from her wounds. Watts Will Finally Pay for His Crimes Watts was shipped to Michigan  where he was  charged, tried and found guilty of murdering Helen Dutcher. On December 7, 2004, he was sentenced to life imprisonment. In late July 2007 Watts again faced a jury after being arrested for the 1974 murder of Gloria Steele. He was found guilty and received a life sentence without possibility of parole. Slipping Through the Bars One Last Time Watts was sent to Ionia, Michigan where he was housed at the Ionia Correctional Facility, also known as the I-Max because it is a maximum security prison.  But he did not stay there long. About two months into his sentence he managed to slide his way out from behind the prison bars yet again, but this time would be his last time as only a miracle would save him now. On September 21, 2007, Coral Eugene Watts was admitted to a hospital in Jackson, Michigan and shortly after died of prostate cancer. The case of the â€Å"Sunday Morning Slasher† was permanently closed.