Of Mice and Men Burdens of Responsibility Essay - 1041 Words

Of Mice and Men: Burdens of Responsibility OF MICE AND MEN IS A NOVEL WHICH EXPLORES THE BURDENS OF RESPONSIBILITY AS MUCH AS ITS REWARDS. By evaluating the novel of mice and men carefully I have found that every character in the novel has a facet of life that consists of burdens and responsibilities. The characters in the novel basically have three options in which they can live their lives. They can knuckle down, work hard, keep a positive frame of mind and try earnestly to improve their standard of living. An example of this is would be George Milton and Lennie Small. The other option is to walk around with a chip on their shoulder, not bother to improve oneself but eradicate those around him or her that serve as a frustration or†¦show more content†¦George then shoots Lennie in the back of the head doing whats best for everyone, and Lennie dies in a state of utopia, his reward. An example of Curleys wifes hopes is when she finally finds a person around the ranch who sees her not as an object of lust but someone to talk to. This person is Lennie. Of course he subsequently snaps her neck when they are both in a state of hysteria, but for a brief moment she was a step closer to her hope. Talking to Lennie was her reward in a sense. The responsibilities of friendship, whether it be marriage as with Curley and his wife or mateship as in Lennie and Georges situation, also play a vital role. George and Lennies friendship is an ideal one where they both respect, help and love each other in their eyes. There is an example of this unity at the start of the novel when both George and Lennie are sitting around a fire ready to make dinner. Referring to their baked beans Lennie makes the comment of I like ‘em with ketchup. After this comment George explodes into a verbal rage explaining how he could have so much fun by himself and how much of a burden Lennie is to him. When George finishes his ‘speech Lennie attempts to reconcile by explaining to George how he could go and live in a cave in the hills. This ‘ guilt trip delivers a realisation to George that he has been nasty. They then patch things up by discussing their utopia. Curley and his wifes marriage is filled with mixed emotions and motives. Curley is filledShow MoreRelated Responsibilities Essay572 Words   |  3 Pagesmade in order to accomplish our own goals. We may all have duties that we have to deal w ith just to make it by, but we can acknowledge them through our personal experiences. In, Of Mice and Men, John Steinbeck creates symbolism through Georges journey leading him to the eventual realization that everyone has responsibilities. nbsp;nbsp;nbsp;nbsp;nbsp;Many themes occur throughout the novel, but one can apply to everyone: we all have tasks we must perform in order to achieve a better life. InitiallyRead MoreSociety In Anthem And John Steinbecks Of Mice And Men815 Words   |  4 Pagesshow society’s true nature. This is displayed best in Ayn Rand’s Anthem and John Steinbeck’s Of Mice and Men; one set in a post-apocalyptic age where man struggles to rebuild and the other set during the Great-Depression. By comparing Ayn Rand’s message concerning the individual in society in Anthem to John Steinbeck’s in Of Mice and Men it is clear that one has a main message that society is a burden to the individual, while the other’s message is that society helps out the individual. As we progressRead MoreNight by Elie Wisel and Of Mice and Men by John Steinbeck differences and similarites1453 Words   |  6 PagesNight by Elie Wisel and Of Mice and Men by John Steinbeck are both books that have differences and similarities in the relationships of their main characters. These characters are Elie and his father, which are two Jews trapped in a concentration camp for the book Night. The other book Of Mice and Men includes two other characters, who are Lennie and George. These two characters have very close friendship, and take care of each other. These two relationships differ and coincide, in how they treatRead MoreSociety In John Steinbecks Anthem, By Ayn Rand874 Words   |  4 Pagesand John Steinbeck write about society and its burden on individuals or the individual’s burden to it. Ayn Rand believes that society is a burden to an individual and that said individual owes nothing to society. John Steinbeck believes that the individual can be a burden to society, but that society should still be held responsible for the individual. Both authors exploit society for its wrongs but believe that society holds different responsibilities for individuals. In Ayn Rand’s novel, AnthemRead MoreA Character and Moral Study of George Milton: Of Mice and Men by John Steinbeck920 Words   |  4 Pageswas drowned out by the lonely road that many men walked in search of jobs. This period showed the true impacts of the loneliness of man and also asked very important questions: are we responsible for the welfare of others? Or is it better to just be alone? In John Steinheck’s novel Of Mice and Men, one of the protagonists, George Milton, struggles with this very concept. Stuck with his disabled best friend, Lennie Small, he feels a sense of responsibility towards Lennie, but also acknowledges how muchRead MoreOf Mice And Men : Exploring The Ways Steinbeck Presents The Ranch1511 Words   |  7 PagesOf Mice and Men essay: Exploring the ways Steinbeck presents the ranch Steinbeck wrote Of Mice and Men in early 1930s and it was published in 1937. During 1930s, America was still suffering from the lack of steady jobs, which made peoples have to travel from town to town to able to seek short term employment. Of Mice and Men based on Steinbeck’s own experience, it is a short book which all the events are happened over the weekend. The title of the novel is taken from Robert Burns’ poem written inRead MoreOf Mice And Men By John Steinbeck1093 Words   |  5 PagesBurdens impede and hold us back from achieving our full potential, but to remove them, is difficult and scary. We familiarize ourselves with these encumbrances, making the task of removing them even more challenging. In John Steinbeck’s novella Of Mice and Men, George is burdened with the task of caring for and protecting Lennie. Eventually, by killing Lennie, George ends their relationship. When Lennie badgers George for ketchup, George explodes at him, shouting, â€Å"â €˜God a mighty, if I was aloneRead MoreCompare And Contrast The Great Gatsby And Of Mice And Men733 Words   |  3 Pagestheir wildest fantasies beyond childhood? The Great Gatsby by F. Scott Fitzgerald and Of Mice and Men by John Steinbeck explores this idea in distinctive detail. Gatsby looks into a mysterious man’s life in the 1920s and the secrets behind the extravagant parties he threw for all but himself, and his longing for a true love that consumed his sensibility. Of Mice and Men revolves around two peculiar young men in Great Depression era who worked to earn the money they needed to purchase the land ofRead MoreOf Mice and Men Essay-a Comparison Between Lennie and Candy1408 Words   |  6 PagesThe novel â€Å"Of Mice and Men† is filled with characters that portray weakness. They are Steinbeck’s commentary on the general attitude towards the â€Å"weak†, and on the stereotype of â€Å"weak†, and perhaps even on the belief of â€Å" survival of the fittest†-social darwinism. Candy’s dog and Lennie are two characters that do so perhaps the most significantly, although in the case of Candy’s dog it is slightly less obvious as he’s not given much of a personality. Upon digging deeper into these two characters,Read MoreOf Mice and Men Alienation1066 Words   |  5 Pagesmasculinity by picking fights. Another way to prove himself is by marrying a physically attractive woman. His wife is never given a name, but by calling her Curley s wife, Steinbeck indicates she is his possession.   Crooks   In John Steinbeck s Of Mice and Men, Crooks, a black stable buck, endures alienation due to racial discrimination. Racial discrimination also hinders him from any type of success. Despite the hardships, he overcomes these obstacles and faces this struggle head on. Forced into isolationism

Famous German People Essay - 3261 Words

Konrad Adenauer Konrad Adenauer was born on January 5, 1876 in Cologne Germany and died on April 19, 1967 in Bad Honnef Germany. He was aged ninety one at his time of death. Adenauer lived in modern times. Adenauer was a German statesman and the first post war Chancellor of Germany. Adenauer attended many universities and got a wonderful education. Adenauer was the first leader of the Christian Democratic Union. (CDU) As the first Chancellor of Germany he led his country out of the ruins of World War II to an energetic and wealthy nation with close relationships with former enemies, like France and the United States. Adenauer worked hard to achieve democracy, stability, and to gain international respect from other countries.†¦show more content†¦This battle is very famous and is known as the Battle of the Teutoburg Forest. Arminius’ name comes from the Latin based word, Armenium, which means vivid blue, he would have been called blue eyes. Although Arminius lost a lot of men in that battle, he managed to hold off the Romans’ efforts to conquer Germania. Arminius turned against what he knew and what he grew up in to defend his home country. Johann Sebastian Bach Johann Sebastian Bach was born in 1685 on March 31 and he died in 1750 on July 28. Johann was 65 years old at his time of death. He lived in the end of the Protestant Revolt and at the beginning of Modern Times. Johann Sebastian Bach was and still is one of the most famous composers that ever lived. Johann was born into a great musical family, his dad was the director of the town musicians, and his uncles were both professional musicians. His father taught him to play the violin and the harpsichord and his brother taught him how to play the clavichord. He was exposed to a lot of contemporary music. When Bach got older he attended St. Michael’s School in Luneburg for two years. After he graduated, he held a handful of musical positions across Germany. Bach stopped writing music because his health and his vision were dramatically declining. Bach became increasingly blind, so he had a British doctor try to revive his eyesight. Historians believe that Bach’s death was caused by a combination of stroke andShow MoreRelatedJacobs Krà ¶nung1002 Words   |  5 Pagesand mineral-water. And beside lots of famous brands like Nescafà ©, Illy, German has also already created their own coffee brand â€Å"Jacobs Krà ¶nung†. For more than 40 years this brand has appeared as the most favored coffee of German. In 1895, Johann Jacobs opened in Bremen, Germany, his special shop with coffee, cacao, chocolates, biscuits. Then they developed their business with own roastfactory and until now they have been succeed to build the most popular German â€Å"Jacobs Krà ¶nung†- Jacobs coronation.Read MoreThe Battle Of Stalingrad : Was It A Significant Defeat?1431 Words   |  6 Pagesturning point in the war. 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By the end of January, 1945, all territoryRead MoreEssay about Handel and Bach Comparisons840 Words   |  4 PagesJohann Sebastian Bach, born in the year 1685, was a German born composer, virtuoso organist and keyboard player, a violinist, and a violist. His career includes over 1100 known composit ions including 224 Cantatas, 7 motets, 24 large scale works including passions, 274 chorales, 223 organ works, and numerous cannons, fugues, chamber music, and lute pieces. Most famous for being an organist, Bach used many German styles. Perhaps one of his most famous works, Bach’s â€Å"Well-Tempered Clavier†, is a collectionRead MoreAnne Frank : A Dark Time Period989 Words   |  4 PagesAnne Frank The Holocaust was a dark time period where millions of people were killed, including a young girl named Anne Frank (â€Å"Anne Frank.† The Famous People website). She died at the age of fifteen from horrible treatment and deadly laboring for hours and hours (Feldman). She left all her belongings and memories so she could be safe from the German Nazi’s. Her early prepared her helped her get through and watch her country be destroyed by the holocaust in which she tragically died in. Anne FrankRead MoreGerman Beer Essay1728 Words   |  7 PagesGerman Beer Research compiled for The Paper Store, Enterprises Inc. By R. Anastasia Tremaine - March, 2002 VISIT www.paperwriters.com/aftersale.htm -- for more information on using this paper properly! 1.0 Introduction Beer is an immensely popular beverage, but it is one that is associated with a particular country. German beer in fact is seen as the king of all beers. Around the world, Germanys beer is one of the most respected varieties, in part due to the strict legislationRead MoreThe Most Deadly Example Of Genocide Essay1300 Words   |  6 Pagessurrounding nations from 1941 to 1945 (O’Shaughnessy 2009) . 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There are three significant differences between American culture and German culture: rules and regulations, the bureaucracyRead MoreThe Battle of Belleau Wood Essay1152 Words   |  5 PagesThe Battle of Belleau Wood was one the most famous battles of World War I in which the U.S. Marine Corps made their debut into the Western Front. This battle was decisive because it confirmed the entry of the U.S. into World War I which is one of the main reasons, that the allies won the war. American involvement for the first couple years of World War I had been kept to simply supply the allies with weapons and supplies. It wasn’t until 1917 when the United States chang ed its view on isolationismRead MoreThe Experience of a Refugee in Casablanca886 Words   |  4 Pagesdepicted a sense of patriotism from propaganda to training videos. The Germans invaded Poland and the World fell into frenzy. 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Cypop free essay sample

England The office for standards in education (Ofsted) Northern Ireland- the local health and social services trust Scotland- the Scottish commission for regulation of care (the care commission) Wales- the care and social services inspectorate for Wales (CSSIW) Here in England Ofsted inspect and regulate services which care for children and young people. Their aim is to promote and improvement the services they inspect and regulate, to benefit children, young people, parents and carers. By law Ofsted are allowed to carry out inspections to insure child care partitioner’s are complying with the requirements. Anyone wishing to be on either part of the register must meet with requirements at all time when providing childcare You must have the following in place at all times while providing childcare. Certificate of registration This will be issued by Ofsted and you must inform them of any changes that may affect it within 14 days e. We will write a custom essay sample on Cypop or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page g. if you have a baby or move home Public liability insurance Can be provided by the national child-minding association (NCMA) and is enewable yearly Paediatric first aid Must be provided by a recognised body and is renewable every 3 years. Enhanced CRB This will be carried out by Ofsted and must be renewed every 3 years. An introduction to child care This must be completed before or with in 6 months of registration. Ofsted complaints procedure This poster must be displayed at all times while providing childcare. Childminders must keep records of the children in their care and hold them for two years after the child leaves. These records must include- Childs name, D. O. B and address Name, address and telephone numbers of parents, or guardians Medication record Accident record Daily attendance register Name, address and telephone numbers of staff Any matter affecting the welfare of the children being cared for must be reported to Ofsted. These include- Any incident of food poisoning affecting two or more children in the provider’s care Any serious accident or injury to, or the death of any child while receiving childcare Any serious accident or injury to, or the death of, any other person on the premises on which childcare is provided

J D Wetherspoon and Scottish & Southern Electricity Plc Case Study

Question: Describe about the Finance Corporate Financial Decision Making of J D Wetherspoon and Scottish Southern Electricity Plc? Answer: Aims and Objectives This aim is to compare the financial management policies and financial performance of two companies- J D Wetherspoon and Scottish Southern Electricity Plc. It connects different financial theories with the financial management policies of both companies. After discussing the financial management policies, suggestions for corporate decision making will be given for Next plc. In addition, the method of stock market prices of both companies will be clarified. Business Strategy Next Plc is interested in investing in J D Wetherspoon or SSE Plc. The financial performance of both companies has been analyzed by reviewing the financial statements of both companies. The business strategies, financial statements served as a major tool for analyzing the financial performance of both companies. The decision to invest in a particular company is based on its financial performance (Ang and Liu, 2003). Different tools have been used in order to conduct financial analysis of both companies such as, financial comparability. Financial comparability is significant to make decisions (Bertoneche and Knight, 2001).Financial Ratios; capital structure has been used for better view of the company position in the market. With these approaches, a clear market as well as financial position of both companies has been identified. These tools have clarified the effective distribution of financial resources in order to maximized share holder value. Financial statement is very important to comparability of financial statement(Borland, 2000). Porters five forces model and PESTEL have also been used in order to define impact of industry factors such as bargaining power of suppliers and buyers on financial aspects such as revenues, profits and cost of goods sold mentioned in the financial statements(Bossaerts, 2009). Validity of data To analyse the financial performance of all the companies, reliable data has been stored from the financial statements. This will include risk- beta, sources of finance, gearing, liquidity, investment ratios, working capital, efficiency ratios and capital structure. Source: Markets.Ft In 2013, due to weather related incidents, SSE electricity production was affected and this was the reason behind decreased sales and net income in 2012. In 2013, SSE made investment in its new 460 megawatt (MW) gas-fired power station at Great Island, County Wexford. Later on, the issues were resolved and SSE preformed better which helped the company in gaining effective return from the investment(Guo, 2010). On the other hand, the decision of the company to freeze the prices for household electricity has helped them to gain right value and which supported in generating effective return. On the other hand, the return from assets shows that SSE Plc generated effective net income from their total assets. Further, it can be explained that assets of SSE Plc is capable of generating revenue which ensures that in future that company can be able to gain better and effective return from their valuable assets(Kramer, 2012). Apart from that, the return on equity of the company reveals that co mpany generated effective from the investment made by the shareholders which shows that SSE Plc is ahead of Wetherspoon in providing better return to their stakeholders(Lie, 2001). Source: Markets. FT The dividend yield of the SSE Plc shows that company is able to gain handsome cash flow from the investment made in the equity. Therefore, it can be understood that SSE Plc earns effective dividend every year in context to their share value. Thus, company is able to provide better return to the shareholders and provide sustainable energy in large quantity(Lusardi, 2012). On the other hand, the dividend growth rate is increasing with a rate of 5.19% which suggests that company is able to generate better return from the equity position. Apart from that, it can be mentioned that company is able to satisfy their internal requirements for capital. The main financial management goal of SSE business is to deliver continued real growth in the dividend which payable to shareholders. It aims to regularly improve its full year dividends(MANISHA B, 2012). In 2013, SSE was able to pay a final dividend amounting to 59.0p per share. It increased the full year dividend by 5.1% to 84.2p. The increase in dividends can be results of the increased net income due to purchase of electricity generation assets in Ireland which cost 289.8m in 2012. Source: Markets.Ft From the above figure, it can be analysed that SSE Plc has made nit significant growth in their earnings per share over the last five years. Since 2011, the company has seriously faced considerable decline in their earning per share due to increasing huge amount of investment in the hydroelectric energy and green energy in order to develop sustainable energy(Margolis and Walsh, 2001). Moreover, in 2014 the earning per share declined in spite of increase in 2013. The reason is certain decline in the sale and effective competition from other energy providing companies (Mulford and Comiskey, 2005). Policies for Sources of Finance It can be analyzed that capital structure of a company is shaped by the sources of finance used. Therefore the capital structure and sources of finance are related. Each source of finance has its own cost for example, debt, equity, retained earnings. It can be observed that since past five years, Wetherspoons financial policy for capital structure has focused on debt as a major part of the capital structure. This has major effects on the net income. Using more debt will drive the company to make interest payments that can significantly effect net income. Due to high financial influence, Wetherspoon will be considered more risky that will disappoint the investors to invest in this particular company(Stutzer, 2000). SSE Plc is an important company in UK that delivers electricity services in Ireland and UK. In accordance with International Accounting Standards, SSE Plc prepares its financial statements such as Income Statement, Balance Sheet and Cash Flow Statement. Risk: beta Analysis This is the heart of this coursework so please elaborate it and explain with refrences The beta is useful in measuring the risk associated with the individual stock in relative to the entire risk of the stock market. Moreover, if the price of the stock experiences movements higher than stock market then it can tend to beta value of more than one (Brooks, Krebs and Paulsen, 2014). On other hand, if the movements of the price of the stock are lower than the fluctuations of market then the beta value can be lower than one. Apart from that being said, if the value of the stock is trending along with the movement of market then the beta value can be close about one (MoneyWorks4me, 2015). Beta of Next Plc is 0.68. Wetherspoons beta is 0.77 as compared to beta of SSE Plc which is 0.25. This implies that Next Plc is reasonably risk-averse company. Wetherspoon is more risky and subjected to slight instability than Next Plc. SSE Plc is least risky as the beta is only 0.25. Beta theory states that companies having beta more than 1 are considered as highly risky companies(Ang and Liu, 2003). All three companies possess a low degree of risk as beta is less than 1. It can be viewed that beta value of both J D Wetherspoon and Scottish Southern Electricity is less than one but the value of SSE is far than expected beta value of one. Therefore, SSE Plc is encircled with less risky aspects in comparison to Wetherspoon Plc. However, both the company can ensure effective return to the Next Plc. On the other hand, it can be considered that both Wetherspoon and SSE is less volatile stock. Therefore, the stock price of Next Plc will not recoil up and down in comparison to market movement. Thus, company can ensure effective return with engaging less risk (Alzer, 2014). Analysis of data- Analysis of Financial Ratios The financial management policy of Wetherspoon includes collecting and review of all types of budgets. The BODs are responsible for Expenditure management and Income(Bertoneche and Knight, 2001). In Wetherspoon, the financial managers are involved in developing income statements and budgeted cash flows that provide them idea for future fundsuse . The BOD holds the authority to prepare budget in obedience with departmental managers and the CEO(Borland, 2000). The Board may apply a budget planning on annual basis and can review actual expenses as compared to expected financial outcomes. Operating profit Ratio Operating profit of Wetherspoon has a fluctuating trend over the past five years. It has decreased to 7.1 in 2013 due to increased cost of trained staff, new additions in menu and expense for improved customers services. Comparatively, SSE Operating profit has been changing considerably over the last five years(Bossaerts, 2009). Currently, it has increased to 2.8% due to reduced expenditures in the energy operations and increased sales due to high demand of energy services. Source: Markets.Ft The net income ratio of Wetherspoon has been fluctuating since past five years. It has increased due to reduced expenses and lower amount of tax charged. SSE Plc has a highly fluctuating trend and it has increased due to lower prices and high demand of goods and services. Investment Ratio Earnings Per share, Payout ratio Source: Markets.Ft The earnings per share are almost similar in all accounted five years. Therefore, company is able to improve their return from investment and provide better return to the stakeholders(CAO and LERNER, 2008). Moreover, company can be able to sustain their market share in order to earn effective income and provide service to the customers. On the other hand, it can be understand that earning per share of Wetherspoon is higher than Scottish Southern Electricity. Therefore, Wetherspoon shareholders earns better return from investment in comparison to shareholders of SSE Plc. Moreover, it can be predicted that Wetherspoon in future can be able to increase their return from investment that will help in providing better return to shareholders and increasing profit(Castre n, Fitzpatrick and Sydow, 2006). Earnings Per share are significant for investors as they can regulate the earnings that they will receive on each share. Wetherspoons EPS has been increasing due to increase in net income of the company. Earnings per share determine the companys ability to generate cash flows in future. It is calculated by dividing the net income with the number of outstanding shares. Investors use this ratio to measure the value of a stock (Stickney, et al, 2009). Due to decreased tax expense, EPS has increased. In addition, the company has been taking effective measures to improve its net income such as improving product and advertising. The financial management policy of SSE focuses on involving an independent evaluator in order to prepare a Financial Statements for the Special Purpose(Estrada, 2005). This is considered as an important effort to provide financial discovery to the interested investors.. The policy involves that members at the annual general meeting accept the auditor. SSE EPS has been changing over the five year period. EPS has increased to 0.45 due to decreased tax expense and increased net income. But, due to increased amount of shareholders company has reduced i ts payout ratio so that each investor can receive return(Fridson and Alvarez, 2011). Source: Markets.Ft Dividends per share of Wetherspoon have been constant over the past five years. This means that shareholders have not received increased returns on their investment. It is evident that payout ratio is 35.78% which means that majority of the portion of net income is being retained by Wetherspoon. The financial policy of Wetherspoon has been able to provide receivable income for the year 2013, amounting to 469.46. This is due to increase in the sales of Wetherspoon. Sales have been increased due to new pubs and expansion programmes in UK. SSE receivable income has been experiencing a fluctuating incline over the past five years. It has decreased due to improper credit management policies of SSE. Managers have to focus and develop appropriate and effective credit management policies in order to increase the receivable income . This would imply that company can be prevented from the bad debts and receive the promised amount form the customers(Kramer, 2012). Fixed Assets Turnover This ratio determines the capability of the company to efficiently use its non-current assets in generating sales volume. A higher fixed asset turnover ratio is favourable for the company and vice versa (Warren, et al, 2013). There is an increasing pattern in FATO of Wetherspoon. It has improved to 1.36 due to effective human resources capital and training provided to the employee workforce. SSE Plc has a fluctuating trend of FATO since the past five years. It has decreased to 2.98 due to inefficient employees and high cost of the operations. Asset Turnover Source: Markets.Ft Asset turnover means the ability of the company to generate or maximize sales by efficiently utilizing its total assets.Wetherspoon Asset Turnover ratio has been increasing over past five years. The reasons for this can be spotedto efficient allocation of resources, effective employee work, training provided to employees and proper cost management techniques. On the other hand , the asset turnover of SSE Plc has been changing since past five years(Lie, 2001). It has decreased to 1.41 in 2013 due to slight increase in sales and ineffective approaches taken by the management in utilizing the resources. The financial management policy of Wetherspoon focuses on developing purchase orders while buying fixed assets. It is important to get approval of the CEO or in his/her absence the authorization of Purchase manager. Wetherspoon's has defined Fraud as the motivation of financial managers, internal auditors or external auditors to mislead the financial statements. Wetherspoon's has clearly defined that any activity such as misappropriation of assets of company by auditors or authorized person will be considered as a fraudulent activity. Recommendation - Wetherspoon or SSE Plc One of the most important business for creativities is the calculation of an appropriate rate of return for invested capital or cost of capital (Galiniene and Butvilas, 2010).In the profitability ratios such as Gross Margin, Net Profit and Operating Profit, Wetherspoon is performing better than SSE Plc. In Liquidity ratios, SSEs performance has decreased and Wetherspoon is able to improve its management of funds. However, SSE Plc has higher liquidity ratios such as Current ratio and acid test ratio as compared to Wetherspoon. Gearing ratios suggest that SSE is a less risky company as compared to Wetherspoon due to low financial weight and its capital structure combines major portion of equity. Efficiency ratios determine that SSE Plc has a strong capability to sell its list faster thanWetherspoon, however SSE;s receivable amount is depends on the customers. Increasing fixed asset turnover and asset turnover suggests that SSE Plc is able to generate more sales revenue using its total assets compared to Wetherspoon. Comparisons Analysis Risk analysis It is recommended that Next Plc should invest in SSE Plc due to lower risk: beta which is 0.25 as compared to Whetherspoon beta: 0.77. Investment analysis It is advised to the CEO of Next Plc to purchase shares of SSE Plc due to improved financial ratios of EPS, Dividends and Net Profit ratio. The Dividend per share (DPS) of SSE- 0.90 is higher than DPS of Wetherspoon- 0.12. Also, the Earning per share (EPS) of SSE- 0.5 is greater than EPS of Wetherspoon- 0.38. This implies that Next Plc should make investment of shares in SSE Plc because SSE Plc is performing better than Wetherspoon in Investment ratios. This has better effects for the investors (Next Plc Group) in the form of increased return on their investments. This means that it is favourable for Next Plc to invest in SSE Plc so that in case if SSE Plc bankrupts, Next Plc will be able to hold a higher amount of money on its shares(MANISHA B, 2012). Capital structure SSE Plc has low debt to equity ratio and low financial debt as compared to Wetherspoon. This implies that Next Plc should invest in SSE Plc. Thus, by the above financial analysis, it is suggested that Next Plc should invest in SSE due to attractive investment, gearing, investment and liquidity ratios. Share Value Analysis- fair value According to Baker and Powell 2009, valuation represents an important process that aims at linking the returns and risks in order to estimate the value of a financial asset or a company. Financial asset can be a bond, preferred share or common share. Between the different types of value, market value is advertised as a vital one. From the view of corporate finance, Market value or current value indicates the price that owner of the financial asset is likely to receive from selling that asset in the stock market. The market value mainly originated from the demand and supply of that asset. Market value is compared with the central value that is also called as Fundamental value (Whaley, 2007). This represents a measure of imaginary value of financial assets. It is difficult to predict the actual estimated value of financial assets because prices are required in order to calculate the value of assets. Critical values are calculated by the investors and shareholders in order to decide whe ther to sell or purchase a financial asset with its current market price or the opportunity cost should take into account .Opportunity cost mean the value of the next-highest-valued alternative use of that resource (Econlib.org, 2014). However, the capital markets cannot be counted as a type of perfectly efficient markets because current share prices and estimated values are likely to differ for financial assets. It is important for corporate managers and financial managers to know the process for estimating value of shares and bonds. This will help in defining if market is correctly playing its role in pricing the financial assets.. Investors are likely to purchase the asset when the estimated value is greater than the current market price. According to Koller, et al (2010), markets are likely to reflect central values and prices that are in line with the basic value of achieving returns on growth and capital. This suggests that managers should concentrate on developing core value as it is the most essential aspect of the markets in the long run. Calculation of Share value As the current stock price is lesser than the core value of stock, this suggests that share price of Wetherspoon is undervalued. It can be observed that the trend of cash flows is stable and investors are likely to get returns if they buy shares of Wetherspoon. Hence, shares of J D WetherspoonPlc represent a fair value.. In 2012, SSE Plc. achieved negative cash flows and positive cash flows were achieved in the next years. The trend of cash flows is highly fluctuating. This means that investors will suffer through losses if they invest in SSE Plc because core value of shares is less than market price. Alternative investment Portfolio Theory The portfolio theory is effective for the investors to understand the nature of risk, return and management of portfolio. Moreover, the theory explores that portfolio diversification can be useful in decreasing the investment risk (Barracchini and Addessi, 2012). On the other hand, Next Plc can use it as an investment decision method. The investors can be able to calculate the required or expected amount of return that they can generate via investing in the particular portfolio or shares. Apart from that, it has been said that portfolio theory holds a view that when the numbers of uncorrelated assets are put together in the portfolio then it can ensure improved return and risk can be controlled (Athanassakos, 2012). Therefore, it can maximize the expected return of the portfolio for an adjusted sum of portfolio risk. However, in order to gain higher return from the investment, the industries or investor has to choose the right proportion of different assets as it can make sure an eff ective return (Barracchini and Addessi, 2012). On the other hand, in order to engage low risk and beneficial return, the company may have to try to acknowledge the risk that is associated with each stock such as JD Wetherspoon Plc and Scottish Southern Electricity. Further, if the Next Plc wants to earn better return then the company may need to take risk more than average. Therefore, when market turn in favour of the company then it can ensure expected return (Gyorfi and Walk, 2012). Apart from that, if the portfolio lies on the efficient frontier point then the company can make decision to make an investment in that portfolio. Therefore, higher expected return can be acknowledged for a specified rank of risk. Thus, the company has to concentrate on that stock or portfolios that are more inclined towards the efficient frontier (Hugonnier, 2012). Next Plcs Profit after tax has increased in 2013 to 473.1 as compared to 427.4. This suggests that Next Plc is in a position to invest in SSE Plc. Next Plc is highly ethical company and incorporates ethical values that will not be followed if Next Plc purchases shares of Wetherspoon Plc. Adverse effects on Next Plcs reputation can occur if it invests in Wetherspoon Plc. SSE Plc have bad cash flows which indicates that it Next Plc can be significantly affected by investing in SSE Plc. When risks are high, a portfolio theory of Diversification can be sued to minimize risks. Thus, Next Plc can use diversification its portfolio by investing in both companies. It will reduce the risks associated with investments. Diversification will reduce random risk events in a portfolio so that the positive performance of some investments can deactivate the negative performance of other investments. Therefore, diversification will be beneficial if the securities in the portfolio are not perfectly conn ected. This strategy is used so that a portfolio including a variety of investments can generate higher returns and lower risk as compared to a single investment found within the portfolio. Dividend Payment Wetherspoon Dividend Trend SSE Plc Dividend Trend Furthermore, the benefit of investing in SSE is that SSE is committed to increasing dividends per share by at least the rate of inflation. Next Plc can be benefited by this action. The Dividend per share (DPS) of SSE- 0.90 is higher than DPS of Wetherspoon- 0.12. This indicates that SSE Plc can satisfy its shareholders by maximizing their shareholders wealth. Next Plc should invest in WetherspoonPlc due to its improved profitability ratios and because the market value of shares exceeds its core value. As both investment indicate risk , Next plc should reinvest the money to expand their shop in the stores. For example , opening restaurant in the stores can lead them to higher returns and can be a alternative to invest in JD Weatherspoon. Valuation of Shares Net Assets Method for the valuation of shares Value per share= (Net Assets Preference Share Capital) / Number of Equity Shares In order to compute the value of share, the data has been accumulated from the financial statement of both the company, JD Wetherspoon and Scottish Southern Electricity. J D Wetherspoon = (1199668 24560) / 227168 = 5.172 (Jdwetherspoon.co.uk, 2015) Scottish Southern Electricity Plc = (3969 487) / 972 = 3.58 (Sse.com, 2015) It can be understood from the adopted share valuation method that, value per share of JD Wetherspoon is higher than SSE Plc. Therefore, it can suggests that Wetherspoon will earn higher income and return on the net profit whereas SSE PLC will gain slightly lesser but can be able to provide effective return to the shareholders. Dividend Discount Model The DDM will be helpful in assessing the current value of the stock on the basis of dividend growth rate. Current Stock Value = Dividend per Share / (R Discount R Dividend Growth) J D Wetherspoon 0.12/ (0.1578 0) = 0.76 or 76 (Jdwetherspoon.co.uk, 2015) Scottish Southern Electricity = 0.82 / (0.26 0.0297) = 352 (Sse.com, 2015) According to dividend discount model, the stock valuation at present scenario of J D Wetherspoon is lesser than SSE Plc. Therefore, it can be understood that SSE Plc is trading at higher rate as the company is large enterprise in comparison to Wetherspoon and provides large amount of electricity to different sectors. Therefore, the price of share is higher. Ethical Issues of Next Plc Next Plc is highly ethical responsible entity which encloses all their stakeholders and shareholders together which helps the company to build their brand image in the industry. The company continuously improve and develop healthy relationships with employees, suppliers and takes active part in the environment sustainability and also makes charities (Ethicaltrade.org, 2015). It is evident that, Next Plc is an active associate of Ethical Trading Initiative and follows ethical trading standard. The Code of Practice Audit team is effectively involved to engage with suppliers in order to identify any non-compliance causes. Moreover, supplier payment policy is followed by the company. On the other hand, the Next Customer Service is involved with the Directory and Retail consumers so that their issues and doubts can be handled. Apart from that, Next Plc effectively makes contribution in health and safety and environment fields. Moreover, Next Plc adopts transparency factor in their disclos ure of financial position (Nextplc.annualreport2013.com, 2015). Conclusion Financial management policies play essential role in effective financial management of the companies. On the basis of financial ratios, Next Plc should invest in SSE Plc due to improved Earnings per Share, Dividend per Share, liquidity ratios low risk and efficient capital structure. However, SSE Plc has poor cash flows that can significantly affect the dividend payment. In compare, Wetherspoons profitability ratios are better than SSE Plc. Apart from financial ratios, other factors such as stock market functioning, demand and supply and market prices are also significant for making investment decisions. Therefore, the stock market analysis ensures that Next Plc should purchase shares of Whetherspoon because the market value of shares exceeds its core value. This will provide increasing returns to the investors in future as compared to SSE Plc. However, Wetherspoon is involved in less ethical business that can significantly affect reputation of Next Plc. Next Plchas the ability to in vest due to increased profit after tax. Thus, Next Plc should follow the strategy of diversification to reduce portfolio risks. Identified by beta analysis, Next Plc includes moderate risk and it should invest in both companies to income return from multiple securities in its investment portfolio or they can reinvest the money to their stores for opening restaurants. References Alzer, H. (2014). Inequalities for the beta function. Analysis Mathematica, 40(1), pp.1-11. Ang, A. and Liu, J. (2003).How to discount cashflow with time-varying expected returns. Cambridge, Mass.: National Bureau of Economic Research. Athanassakos, G. (2012). Value Investing Vs. Modern Portfolio Theory. Journal of Business Financial Affairs, 01(02). Barracchini, C. and Addessi, M. (2012). Ethical Portfolio Theory: A New Course. Journal of Management and Sustainability, 2(2). Bertoneche, M. and Knight, R. (2001).Financial performance. Oxford: Butterworth-Heinemann. Borland, J. (2000).Financial performance. New York: Scitech Educational Ltd. Bossaerts, P. (2009). What Decision Neuroscience Teaches Us About Financial Decision Making.Annu. Rev. Fin. Econ., 1(1), pp.383-404. Brooks, A., Krebs, L. and Paulsen, B. (2014). Beta-testing a requirements analysis tool. SIGSOFT Softw. Eng. Notes, 39(5), pp.1-6. CAO, J. and LERNER, J. (2008). The performance of reverse leveraged buyouts.Journal of Financial Economics. Castre n, O., Fitzpatrick, T. and Sydow, M. (2006).What drives EU banks' stock returns?. Frankfurt am Main: Europ. Central Bank. Estrada, J. (2005).Finance in a nutshell. London: Financial Times Prentice Hall. Ethicaltrade.org, (2015). Next plc: Building awareness | Ethical Trading Initiative. [online] Available at: https://www.ethicaltrade.org/in-action/member-performance/next-plc-winning-suppliers-hearts-and-minds [Accessed 7 Mar. 2015]. Fridson, M. and Alvarez, F. (2011).Financial statement analysis. Hoboken, N.J.: Wiley. Guo, L. (2010). Product Design and Financial Performance.Design Management Journal, 5(1), pp.5-19. Gyorfi, L. and Walk, H. (2012). Empirical Portfolio Selection Strategies With Proportional Transaction Costs. IEEE Transactions on Information Theory, 58(10), pp.6320-6331. Hugonnier, J. (2012). Rational asset pricing bubbles and portfolio constraints. Journal of Economic Theory, 147(6), pp.2260-2302. Jdwetherspoon.co.uk, (2015). ANNUAL REPORT AND FINANCIAL STATEMENTS 2014. [online] Available at: https://www.jdwetherspoon.co.uk/home/investors/latest/final-jdw-ra14.pd.pdf [Accessed 7 Mar. 2015]. Kramer, M. (2012). Financial Advice and Individual Investor Portfolio Performance.Financial Management, 41(2), pp.395-428. Lie, E. (2001). Detecting Abnormal Operating Performance: Revisited.Financial Management, 30(2), p.77. Lusardi, A. (2012). Numeracy, Financial Literacy, and Financial Decision-Making.Numeracy, 5(1). MANISHA B, R. (2012). Financial Performance Analysis.Global Journal For Research Analysis, 3(5), pp.9-10. Margolis, J. and Walsh, J. (2001).People and profits?. Mahwah, N.J.: Lawrence Erlbaum Associates, Publishers. MoneyWorks4me, A. (2015). Beta Analysis: How useful it is for stock selection? | Stock Shastra. [online] Stockshastra.moneyworks4me.com. Available at: https://stockshastra.moneyworks4me.com/basics-of-investing/beta-analysis-how-useful-it-is-for-stock-selection/ [Accessed 7 Mar. 2015]. Mulford, C. and Comiskey, E. (2005).Creative cash flow reporting. Hoboken, N.J.: J. Wiley. Nextplc.annualreport2013.com, (2015). Next Plc. [online] Available at: https://nextplc.annualreport2013.com/business-reports/directors-report-and-business-review/social-environmental-matters [Accessed 7 Mar. 2015]. Penning, A. (2012).Financial performance. Worcester: Osborne Books. Pilcher, R. and Van Der Zahn, M. (2010). LOCAL GOVERNMENTS, UNEXPECTED DEPRECIATION AND FINANCIAL PERFORMANCE ADJUSTMENT.Financial Accountability Management, 26(3), pp.299-324. Sse.com, (2015). Annual Report 2014. [online] Available at: https://sse.com/media/241200/2014AnnualReport.pdf [Accessed 7 Mar. 2015]. Stutzer, M. (2000). A Portfolio Performance Index.Financial Analysts Journal, 56(3), pp.52-61.

Battle of Charleroi in World War I

Battle of Charleroi in World War I The Battle of Charleroi was fought August 21-23, 1914, during the opening days of World War I (1914-1918) and was part of a series of engagements collectively known as the Battle of the Frontiers (August 7-September 13, 1914). With the start of World War I, the armies of Europe began mobilizing and moving towards the front. In Germany, the army commenced implementing a modified version of the Schlieffen Plan. The Schlieffen Plan Conceived by Count Alfred von Schlieffen in 1905, the plan was designed for a two-front war against France and Russia. Following their easy victory over the French in the 1870 Franco-Prussian War, Germany saw France as less of a threat than its larger neighbor to the east. As a result, Schlieffen sought to mass the bulk of Germanys military might against France with the goal of winning a quick victory before the Russians could fully mobilize their army. With France eliminated, Germany would be able to focus their attention to the east (Map). Predicting that France would attack across the border into Alsace and Lorraine, which had been ceded following the earlier conflict, the Germans intended to violate the neutrality of Luxembourg and Belgium to attack the French from the north in a large-scale battle of encirclement. German troops were to defend along the border while the right wing of the army swept through Belgium and past Paris in an effort to crush the French army.   French Plans In the years prior to the war, General Joseph Joffre, Chief of the French General Staff, moved to update his nations war plans for a conflict with Germany. Though he initially desired to create a plan that had French forces attack through Belgium, he was later unwilling to violate that nations neutrality. Instead, he and his staff designed Plan XVII which called for French troops to mass along the German border and mount attacks through the Ardennes and into Lorraine. Armies Commanders: French General Charles LanrezacFifth Army Germans General Karl von  Bà ¼low  General Max von HausenSecond Third Armies Early Fighting With the beginning of the war, the Germans aligned the First through Seventh Armies, north to south, to execute the Schlieffen Plan. Entering Belgium on August 3, First and Second Armies drove back the small Belgian Army but were slowed by the need to reduce the fortress city of Liege.   Receiving reports of German activity in Belgium, General Charles Lanrezac, commanding the Fifth Army at the northern end of the French line, alerted Joffre that the enemy was advancing in unexpected strength.   Despite Lanrezacs warnings, Joffre moved forward with Plan XVII and an attack into Alsace.   This and a second effort in Alsace and Lorraine were both pushed back by the German defenders (Map).      To the north, Joffre had planned to launch an offensive with the Third, Fourth, and Fifth Armies but these plans were overtaken by events in Belgium. On August 15, after lobbying from Lanrezac, he directed Fifth Army north into the angle formed by the Sambre and Meuse Rivers. Hoping to gain the initiative, Joffre ordered Third and Fourth Armies to attack through the Ardennes against Arlon and Neufchateau.   Advancing on August 21, they encountered the German Fourth and Fifth Armies and were badly defeated. As the situation along the front developed, Field Marshal Sir John Frenchs British Expeditionary Force (BEF) disembarked and began assembling at Le Cateau.   Communicating with the British commander, Joffre requested that French to cooperate with Lanrezac on the left. Along the Sambre Responding to Joffres order to move north, Lanrezac positioned his Fifth Army south of the Sambre extending from the Belgian fortress city of Namur in the east to just past the mid-size industrial town of Charleroi in the west. His I Corps, led by General Franchet dEsperey, extended the right south behind the Meuse. To his left, the cavalry corps of General Jean-Franà §ois Andrà © Sordet linked Fifth Army to Frenchs BEF.   On August 18, Lanrezac received additional instructions from Joffre directing him to attack north or east depending upon the enemys location. Seeking to locate General Karl von  Bà ¼lows Second Army, Lanrezacs cavalry moved north of the Sambre but were unable to penetrate the German cavalry screen.   Early on August 21, Joffre, increasingly aware of the size of German forces in Belgium, directed Lanrezac to attack when opportune and arranged for the BEF to provide support. On the Defensive Though he received this directive, Lanrezac adopted a defensive position behind the Sambre but failed to establish heavily-defended bridgeheads north the river. Additionally, due to poor intelligence regarding the bridges over the river, several were left completely undefended. Attacked later in the day by the lead elements of Bà ¼lows army, the French were pushed back over the river. Though ultimately held, the Germans were able to establish positions on the south bank. Bà ¼low assessed the situation and requested that General Freiherr von Hausens Third Army, operating to east, join in the attack on Lanrezac with the goal of executing a pincer. Hausen agreed to strike west the next day.   On the morning of August 22, Lanrezacs corps commanders, on their own initiative, launched attacks north in an effort to throw the Germans back over the Sambre. These proved unsuccessful as nine French divisions were unable to dislodge three German divisions. The failure of these attacks cost Lanrezac high ground in the area while a gap between his army and Fourth Army began to open on his right (Map).   Responding, Bà ¼low renewed his drive south with three corps without waiting for Hausen to arrive. As the French resisted these assaults, Lanrezac withdrew dEspereys corps from the Meuse with the intent of using it to strike Bà ¼lows left flank on August 23. Holding through the day, the French again came under attack the next morning. While the corps to the west of Charleroi was able to hold, those to the east in the French center, despite mounting an intense resistance, began to fall back.   As I Corps moved into position to strike  Bà ¼lows flank, the lead elements of Hausens army began crossing the Meuse.   A Desperate Situation Recognizing the dire threat this posted, dEsperey counter-marched his men towards their old positions.   Engaging Hausens troops, I Corps checked their advance but could not push them back across the river. As night fell, Lanrezacs position was increasingly desperate as a Belgian division from Namur had retreated into his lines while Sordets cavalry, which had reached a state of exhaustion, needed to be withdrawn. This opened a 10-mile gap between Lanrezacs left and the British. Further west, Frenchs BEF had fought the  Battle of Mons. A tenacious defensive action, the engagement around Mons had seen the British inflict heavy losses on the Germans before being forced to give ground. By late afternoon, French had ordered his men to begin falling back. This exposed Lanrezacs army to greater pressure on both flanks. Seeing little alternative, he began making plans to withdraw south.   These were quickly approved by Joffre. In the fighting around Charleroi, the Germans sustained around 11,000 casualties while the French incurred approximately 30,000. Aftermath: Following the defeats at Charleroi and Mons, French and British forces began a long, fighting retreat south towards Paris. Holding actions or failed counterattacks were conducted at Le Cateau (August 26-27) and St. Quentin (August 29-30), while Mauberge fell September 7 after a brief siege. Creating a line behind the Marne River, Joffre prepared to make a stand to save Paris. Stabilizing the situation, Joffre began the First Battle of the Marne on September 6 when a gap was found between the German First and Second Armies. Exploiting this, both formations were soon threatened with destruction.   In these circumstances, the German Chief of Staff, Helmuth von Moltke, suffered a nervous breakdown. His subordinates assumed command and ordered a general retreat to the Aisne River.

CYSTIC FIBROSIS1 essays

CYSTIC FIBROSIS1 essays According to old northern European folklore, a child that tasted salty when kissed upon the forehead was bewitched and would soon die. Today we know the reason -the genetic disease, cystic fibrosis or CF. It is a chronic, progressive disease and the most common, fatal inherited disorder in the United States. About 30,000 Americans suffer from cystic fibrosis, and 2500 babies are born in the U.S. with the disease each year. While all races and ethnic groups may suffer from the disease, it occurs most often in whites whose ancestors came from northern Europe. About 1 in every 20 Americans is an unaffected carrier of the disease because they have one abnormal CF gene. Patients with CF produce a thick, sticky mucus; much thicker than a healthy person. The buildup of this mucus clogs ducts and body tubes, leading to chronic tissue inflammation and the replacement of injured cells with scar tissue which blocks the airways of the lungs and ducts in the pancreas and liver. In the lungs, this mucus impairs breathing and causes chronic bacterial infections. Lung disease is the main cause of death from cystic fibrosis. Occlusion of ducts in the pancreas prevents digestive enzymes produced by the pancreas from reaching the intestines where they are required for proper digestion. Cirrhosis of the liver and male infertility are also associated with the disease. Until recently, most of the information known about cystic fibrosis was gained from observation. In 1938, Dorothy H. Anderson of Columbia University, provided the first descriptions of body changes produced by CF. From autopsies performed on infants and children, she described destruction of the lungs and pancreas. A decade later, physicians had connected the clogged ducts and passageways to the bodys inability to digest nutrients and respiratory failure. By 1946, studies about family patterns of disease inheritance led researchers to realize that cys...

A television show (LOST) Essay Example | Topics and Well Written Essays - 750 words

A television show (LOST) - Essay Example All of these questions feed into the show’s elaborate mythology. Unlike other TV shows, most of what we want to know about Lost is kept from us, hidden out of sight. That is one of the reasons it has had such a cultural impact. It is a bit like Plato’s cave. We can only see the shadows on the wall and would love to see what on Earth is actually casting them. It has also made all of its cast members into big stars. People identify with these people who are confused about their lives, have no idea where they are, and are seem to be directed by forces they can’t understand. In Lost, the storytelling shifts between the survivors trying to adapt to their strange new lives and to understand the island on which they are marooned and then shifts to flashbacks that explain us understand the personal history of each of the many character. We get to see what sort of lives they were living before they came to the island. For the most part these are pretty unhappy lives. Lives in which they were also being directed by forces they didn’t really understand either. Some people object to this, wishing instead that they focused exclusively on the events on the island, but I think that this is wrong. If you focused merely on the events on the island, it would be only an adventure story, but through the flashbacks we learn so much about what makes the people tick that the series becomes as much a character study as an adventure. And this helps us to understand what motivates the characters and lets them stand in for various archtypes. By the end of the season, w e get to know the characters so well that we can anticipate how they are going to respond to even the smallest events. We learn very quickly that the island contains a host of mysteries, including invisible monsters whose location and function remain unknown until the end of the first season (if we even understand them then). There are passageways that lead to strange places, there are promises of