War, Politics, and Culture in Modern Mass Society Assignment

War, Politics, and Culture in Modern Mass Society - Assignment Example Culture in modern mass society is the distinct ways which people who live in the post-medieval Europe or at a global level differently classify and represent their acts and experiences creatively. Therefore, primary sources about Europe from 1871-1939 on war, politics, and culture are the original materials, artifacts, or documents. In this case, the primary sources that lead or related to the first-word war and how this has influenced the culture of the mass society to date (Teich and Porter, pp, 307-315). Europe from 1871-1939 experienced numerous revolutionary events, conflicts, and wars and at the peak of it was the First World War between 1914 and 1918. They are several primary sources that relate or lead to this particular war and they are into four categories. The four sources include printed sources, micro format; Personal reminiscences that are letters and diaries and eyewitness statements (Luebke, pp, 92-97). Printed sources are printed documents, newspapers articles, magazines, and journals. In the year 1914, the war was declared on Serbia by the government of Austro- Hungarian. In their statements, they stated that the whole Europe should prepare for war. The Ogden Standard in the same year also reported that Austria had chosen war. The Washington times seconded the report in the same year. It did not take long after the reports when war between these countries started. Microformat sources were also used to report the war in Europe. Microformat sources are types of open source data format that is upon existing and widely adopted frameworks. These micro format records consist of documents from the archives of the German Foreign Ministry that concerned with German involvement in Irish affairs during World War Impersonal reminiscences, on the other hand, give first-hand information on the happenings of the event.  

Optical Fibre Communications Essay Example | Topics and Well Written Essays - 1750 words - 3

Optical Fibre Communications - Essay Example You may use all of the allocated section numbers, or fewer. However, you are forbidden from entering any extra section numbers. You are permitted to have up to four figures in this report. They can only appear in the Design or Results sections. Each figure has been allocated a number. You must provide a title(s) and page number(s) in the space below. When you draw a figure, it must have below it the figure number and a title that matches the one entered here (see below). Photographic images are not permitted and will be ignored for marking purposes. You are permitted to have up to three tables in this report. They can only appear in the Design or Results sections. Each table has been allocated a number. You must provide a title(s) and page number(s) in the space below. When you draw a table, it must have below it the table number and a title that matches the one entered here. For example: Write your Introduction in the space provided. Use only this space – any inserted sheets will be ignored for marking purposes. The Introduction should cover relevant background information that will help in the understanding of the report, but which cannot be included in the other sections. The construction of optical fibres consists of three parts, a core made from a transparent material with a refractive index n1. A layer of cladding made from a transparent material that has a lower refractive index n2 then the core surrounds the core. The cladding adds support to the core structure and reduces the radiation loss to the atmosphere. The final part of the fibre consists of a polymer coating that protects the glass layers from damage. The combination of these three components leads to a dielectric wave-guide that allows light to pass through the It is important to understand how light rays propagate through an optical fibre. With the construction of the fibre having two transparent inner sections with the core having a higher refractive index. When

Financial Analysis Of Tesco PLC

Financial Analysis Of Tesco PLC Tesco Plc is a leading UK retailer that operates in 13 countries across Asia, Europe and the United States. In order to evaluate Tescos financial positions in the market, vertical, horizontal and ratio analyses will be implemented. In addition, this report will benchmark two main competitors of the company, namely Morrisons and Sainsburys. Finally, in conclusion it will provide some recommendation for future investors and for those who are considering future employment in the company. 1. Review of Tescos financial fundamentals over the last 5 years. In order to examine Tescos performance, vertical analysis of the financial fundamentals for 2006-2010 would be implemented. 1.1 Income statement trends Table 3: % change PL account 2006/07 2007/08 2008/09 2009/10 Sales 8.08% 10.92% 13.95% 5.59% Cost of sales 8.17% 10.83% 13.84% 5.21% Gross profit 14.37% 4.82% 15.29% 10.08% Expenses 8.27% 10.47% 14.48% 5.80% Operating profit 16.14% 5.40% 13.54% 9.09% Finance income -21.05% 107.78% -37.97% 128.45% Finance cost -10.4% 15.7% 91.2% 21.13% Tax 18.95% -12.8% 17.8% 6.6% Retained profits 20.49% 12.16% 0.38% 9.26% Source: Tesco PLC Annual Report and Financial Statements 2007/10 Sales are the main measures for business growth. Tescos revenue has increased by 7.14% per year for the last 5 years. The slowing GDP growth and the deteriorating consumer confidence, which was result of the recent economic downturn, were the main reasons for the recent slowdown in the rate of growth. The absolute level of sales has still increased. of the companys sales levels. Notwithstanding the challenging economic environment, Tesco managed to maintain strong margins due to significant investments in new stores and lower prices, better pay rates and effective cost management. The lowest operating and gross profits figures were registered in 2007/2008 but this was a result of  £89m investment in US and integration cost from market acquisitions in Czech Republic, Poland and Malaysia. The most significant figure in 2009 is the increased amount of finance costs, from  £250m to  £478m or by 91.2% that was result of increased average net debt level slinked to acquisitions and foreign exchange movements, higher coupon rates on commercial paper and unfavourable changes in the non-cash IFRS elements of the interest charge (Tesco PLC Annual Report and Financial Statements 2009). This considerably affected retained profits and a slight increase by 0.38% was registered. Finally, in 2010 there was a significant increase of the finance income by 128.45%, resulting growth in the retained profits by 9.26% due to the consolidation of Tesco Bank. 1.2 Balance sheet trends Table 4: 2006/07 2007/08 2008/09 2009/10 Current assets 16.76% 37.67% 122.94% -16.23% Inventories 31.90% 25.84% 9.84% 2.25% Trade receivables 20.96% 21.50% 37.15% 5.01% Non-current assets 8.51% 17.96% 34.45% 6.77% Current liabilities 9.69% 25.90% 75.78% -11.23% Non-current liabilities 8.62% 31.48% 87.75% 2.06% Shareholders funds/Equity 11.93% 12.59% 9.18% 12.97% Source: Tesco PLC Annual Report and Financial Statements 2007/10 According to the balance sheet in 2007, the increase in stock and debtors outpaced sales that was quite inconvenience, while the fixed assets were satisfactory. The problem with the stock trend was reversed in 2009 and 2010, but the debtors level, and the liabilities along with the fixed assets grew faster than sales in 2009 as a result of the economic downturn and the consumers uncertainty (see table 4). 2. Ratio Analysis of Tesco Financial ratio analysis is one of the most common methods that provides a quick and relatively simple means of assessing the financial health of a business ( Atrill McLaney, 2006, pp168). 2.1 Profitability Ratios Profitability ratios provide an insight to the degree of success in achieving this purpose (Atrill McLaney, 2006, pp169). Table 5: 2006 2007 2008 2009 2010 ROSF 16.69% 17.96% 17.90% 16.57% 15.91% ROCE 12.70% 12.60% 12.70% 12.80% 12.10% Net profit margin 5.78% 6.21% 5.90% 5.88% 6.07% Gross profit margin 7.67% 8.12% 7.67% 7.76% 8.10% Source: Tesco PLC Annual Report and Financial Statements 2007/10 According to table 5 Tescos ROSF ratios vary between 16-18% and ROCE between 12-13%. In 2007 and 2008 the ratios are tend to increase while in 2010 a considerable drop can be noticed. This reduction is result of the companys strategy to continue investment even during the recession that has affected the returns in short term, but at the same time it promises progress in long term aspect (Tesco PLC Annual Report and Financial Statements 2010). Net profit and gross profit margin ratios have been also remarkably consistent over the 5 years period. Despite the recent economic downturn, Tesco managed to maintain its strong positions and due to efficient cost management, price cuts and increased focus on its clubcard loyalty cart, it raised pre-tax profit by 9% in 2010 (http://www.guardian.co.uk). 2.2 Efficiency Ratios Table 6: 2006 2007 2008 2009 2010 Stock turnover period (days) 15 18 20 19 19 Sales revenue to cap.employed (times) 2.62 2.56 2.38 1.93 1.90 UK Sales revenue per employee 170,923 177,084 179,840 196,436 196,120 Profit per employee 10,190 11,292 10,814 13,065 14,303 UK Sales per square foot 1303 1325 1322 1318 1311 Source: Tesco PLC Annual Report and Financial Statements 2007/10 Generally, the efficiency of Tescos performance during the last 5 years is persistent. Stock turnover ratio has been remarkably steady and has varied between 19-20 days over the last 4 years which is evidence for a good control of stock. However, from 2006 to 2010 sales revenue to capital employed ratio decreased significantly from 2.62 to 1.90 (by 27.5%) which was result of the considerable increase in the level of shareholders funds and non-current liabilities (by 173% and 55% respectively). Additionally, the most important ratios measuring business efficiency are sales per employee and profit per employee. Tescos ratios are satisfactory notwithstanding the declines in 2008 that are understandable bearing in mind the challenging economic conditions (see table 6). 2.3 Liquidity Ratios According to McLaney Atrill liquidity is vital to the survival of a business for there to be sufficient liquid resources available to meet maturing obligations (Atrill McLaney, 2006, pp169). Table 7: 2006 2007 2008 2009 2010 Current ratio 0.52 0.56 0.61 0.75 0.73 Acid test ratio 0.33 0.32 0.37 0.60 0.56 Cash generated from operations to maturing obligations 0.45 0.43 0.40 0.28 0.37 Source: Tesco PLC Annual Report and Financial Statements 2007/10 Tescos liquidity has considerably improved over the 5 years period due to strong cash generations and tight control of capital expenditure. Working capital also increased significantly, by 20%. However, liquidity ratios are still very low, current ratio varying from 0.5 to 0.7 and acid test ratio from 0.3 to 0.5. This seems disastrously when referencing to some textbooks that suggest that current ratio should be around 2 and the acid ratio should be around 1. But according to Atrill McLaney (2006) the current ratio will vary from business to business and a supermarket chain will have a relatively low ratio, as it will hold only fast-moving inventories of finished goods and all of its sales will be made for cash (no credit sales) (trill McLaney, 2006, pp 187). (See table 7) 2.4 Financial Gearing Ratio Gearing ratio is one of the most important indicators regarding the degree of risk associated with a businessà ¢Ã¢â€š ¬Ã‚ ¦it tends to highlight the extent to which the business uses loan finance (Atrill McLaney, 2006, pp169). Table 8: 2006 2007 2008 2009 2010 Gearing ratio 37.23% 36.53% 40.03% 53.86% 51.08% Interest cover ratio 6.26 7.04 6.81 5.64 5.01 Source: Tesco PLC Annual Report and Financial Statements 2007/10 There are no significant changes of Tescos gearing ratio during the last 5 years; it peaked at 53.9% in 2009 due to the significant increase of the long-term liabilities and the shareholders fund resulted of Homever acquisition in South Africa. On the other hand, interest cover ratio decreased significantly from 7 in 2007 to 5 in 2010, but the company still will not have problem to meet its interest (see table 8). 2.5 Investment ratios Investment ratios give an answer to the key question whether shares should be bought, sold or hold. Table 9: 2006 2007 2008 2009 2010 Earnings per share 20.04 22.36 26.95 27.14 29.33 P/E ratio 16.5 19.9 14.6 11.5 13.2 Dividend per share 8.63 9.64 10.9 11.96 13.05 Dividend cover 3.57 4.07 2.69 2.42 2.41 Dividend payout 27.98% 24.59% 37.18% 41.30% 41.44% Dividend yield 2.6% 2.2% 2.7% 3.6% 3.1% cash from operations /number of shares 0.44 0.45 0.52 0.63 0.75 Source: Tesco PLC Annual Report and Financial Statements 2007/10 Tescos earnings per share ratio has increased by around 46% over the last five years, which is a good trend. Dividend per share also registered an excellent growth by 51% for the 5 year period. Dividend cover ratio is another important ratio that determines whether company is attractive for investors. Tescos dividend cover ratio is decreasing significantly over the last 3 years, which is good for investors looking for capital appreciation. However, low dividend cover is unattractive for those seeking income (Fitzgerald, (2002, pp160). Dividend yield is another important investment indicator showing the actual return provided by the company. For 2006-2010 Tescos dividend yield ratio has been quite variable, the lowest rate was 2.2% in 2007 and the highest was 3.6% in 2009. In 2009 the high yield was affected by economic situation and the company was expected to have low profits growth. In contrast, low dividend yields mean that the company is expected to grow its profits quickly (Arno ld, 2004, pp 191) (See table 9). In addition, in 2009 the lowest P/E ratio was registered again because of the expectation for slowdown in profits (Arnold, 2004, pp 187). 3. Benchmark the performance of Tesco Nowadays, retail industry is characterised by very intense competition and in order to obtain clearer picture of Tescos growth, it would be useful to benchmark the company to some of its main competitors, namely Morrisons and Sainsburys, evaluating some fundamental financial indicators. Firstly, it should be taken into consideration the fact Morrisons and Sainsburys operates only at national level and Tesco is operating internationally. Therefore, there would be some significant differences in their indices in comparison to Tesco. Figure 1: Figure 2: Source: Tesco PLC Annual Report and Financial Statements 2010, Morrisons annual report and financial statements 2010 J Sainsbury plc Annual Report and Financial Statements 2010 Figure 1 clearly shows that for 2010, Tesco is the market leader with 63% sales levels compared to the whole three companies revenue. Sainsburys is the second with 22% and Morrisons is the third, registering 16% sales. In terms of profitability good sign is that all the three companies have managed to maintain its position even during the economic recession and continue to increase their profit numbers. However, comparing Morrisons and Sainsburys uncertain fact is that they obtained almost the same levels of profit in 2010, bearing in mind that Sainsburys is much bigger than Morrisons. Thus, Morrisons is found to be more efficient with margin of 5.9%, comparing to Sainsburys ratio of 3.6% (see figure 2). Additionally, while Morrisons and Sainsburys increased their return on capital employed ratio, even slightly, Tesco registered a significant drop in 2010, by 0.7%, result of the consolidation of Tesco Bank. However, from investors point of view, in long term, this is not an inconvenience trend because it will take some time until Tesco Bank start making any profits (see figure 2). Figure 3: Source: Tesco PLC Annual Report and Financial Statements 2010, Morrisons annual report and financial statements 2010 J Sainsbury plc Annual Report and Financial Statements 2010 When it comes to productivity, for 2010, again Tesco is on the top with the highest level of sales per square ft in UK, followed by Sainsburys and Morrisons. In terms of sales per employee, there is not a significant difference between the three retails, although Morrisons is presenting more convenience levels in contrast to Sainsburys (see figure 3). Figure4: Figure 5: Source: Tesco PLC Annual Report and Financial Statements 2010, Morrisons annual report and financial statements 2010 J Sainsbury plc Annual Report and Financial Statements 2010 From all the three companies, in 2010 Tesco registered the highest level of gearing, 51.08%, Sainsburys 38.4% and Morrisons 25.1%, which means Tesco I highly geared. This is not necessary uncertain fact because Tesco is a mature business with strong and reliable cash flows that can allow higher level. In terms of interest cover, Morrisons presents the most convinience positions with ratio of 15.11. Sainsburys and Tescos rates are low (see figure 4 5). Figure 6: Source: Tesco PLC Annual Report and Financial Statements 2010, Morrisons annual report and financial statements 2010 J Sainsbury plc Annual Report and Financial Statements 2010 Finally, Morrisons has the highest earnings per share ratio, 30.36p, but at the same time and the highest dividend cover, which is not very attractive for investors seeking income. Those investors would be more attracted by Sainsburys and Tescos ratio that are quite low, 2.43 and 2.41, respectively (see figure 6). Evaluation Conclusion Based on the analysis above, it could be concluded that Tesco is a growing company that demonstrates very convenience performance over the last 5 Years, increasing revenues and profits. However, in order to take objective investment decision, share prices and dividend trends should be taken into consideration. Over the last 5 years Tesco has increased its market shares. In October 2010, Tesco PLC reported semi annual 2011 earnings of 16.43 per share that is better than the last years result for the same period by 18.20% (markets.ft.com). In comparison to the FTSE 100 Index, for example, it also demonstrates good trends; over the last week Tesco outperformed the FTSE 100 Index (markets.ft.com) (see Table 10). On the other hand, Tescos current share prices (432.00p) do not seem so attractive, comparing to its rivals with lowest prices, Morissons- 269.20p and Sainsburys-376.00p. Additionally, in terms of the dividend yield rates, there is a significant drop from 3.6% in 2009 to 3.1% in 2010. This could be caused by several factors, but at the same time, it could be a warning sign that the prices are raised excessively and they might be overpriced (moneyweek.com). Table 10: Name 1 Week 1 Month 6 Month 1 Year 5 Year Tesco PLC -0.24% +2.48% +8.74% +2.57% +30.59% FTSE 100 Index +1.42% +1.63% +12.91% +10.83% +6.70% Source: Tesco PLC, markets.ft.com Finally, according to the Tescos ratio analysis and the benchmark there are some other uncertainties regarding liquidity and gearing in comparison to Morrisons and Sainsburys, for example. Thus, notwithstanding the satisfying dividend and earnings per share and the strong performance of Tesco, the current share prices do not look very attractive for buying. In this case, Morrisons might be more attractive for future investment noting its successful nationwide expansion, fast growing trend and low share prices. At first glance Tesco seems an attractive place to work as it has significant growth potential and has very strong positions in the market. The companys employment policy is very Overall you have made a good start here. You need to analyse the current share price, dividend yield and P/E ratio for Tesco to see whether it is worth investing. Even if Tesco is a strong performer in a business sense that doesnt mean we should buy its shares. The strength may already be reflected in the share price or, indeed, the shares may be overpriced. You need to look at share price trends and compare with the FTSE 100 or with an index for the food and drug retail sector. Or you could examine TSR and compare that with the competittion. You need to try to get a feel for whether the shares should be bought at the current price. You also havent answered the employment question you need to find some employee related data.

Papyrus :: essays research papers

"Papyrus Papyrus was the most important writing material in the ancient world. Our word ""paper"" derives from the word ""papyrus,"" an Egyptian word that originally meant ""that which belongs to the house"" (the bureaucracy of ancient Egypt). Papyrus is a triangular reed that used to grow along the banks of the Nile, and at an early stage of their history the Egyptians developed a kind of writing material made out of the pith within the stem of the papyrus plant. At the same time they developed a script that ultimately provided the model for the two most common alphabets in the world, the Roman and the Arabic. . The task of the papyrologist is not only to decipher, transcribe and edit what is preserved, but also to reconstruct what is lost between fragments and reconstruct the whole. Most fragments of literature derive from rolls of papyrus, which could extend up to 35 feet in length. Papyrus was the most important writing material of the ancient world and perhaps ancient Egypt's most important legacy; alongside it were used other (often cheaper) materials, like wood and clay (broken pottery sherds with writing are called ostraca). On these materials were recorded everything from high literature to the myriad of Nine of ten published texts are private letters or documents of every conceivable documents and other communications of daily life. they reflect the quotidian affairs of government, commerce, and personal life in much the same way that modern records do. From the papyri, moreover, have come abundant new works of religious literature not only for Judaism and Christianity but also for traditional Greek and Roman cults, for Manicheism, and for the early history of Islam. The papyri are also our most important source for the actual working of law in ancient societies. . In addition to the papyri, the Michigan collection contains other writing surfaces that were in use in the ancient world, such as ostraca (pot shards), lead, wax and wooden tablets, parchment, and rarely, paper. The papyri are mainly in Greek, but with a range similar to that of Michigan.Condition of the Materials But it is of course much older than most paper manuscripts, and most papyri are torn on several, if not all, sides. They usually emerge dirty, crumpled, and twisted, unless they have been preserved in a box or jar (as occasionally happens). Ostraca are often broken, and sometimes have significant salt in the fabric if they have lain in land reached

Pilgrim Fathers

The pilgrim fathers where different to other colonists because when they arrived in America they did not explore the land. The pilgrim fathers stayed at the beach, set up camp and survived badly. The pilgrim fathers where extremely religious. They would not sing any song or do any dance because it distracted their memory when they talked to god. The pilgrim fathers where ordinary people with ordinary jobs such as a black smith or farmers. When the pilgrim fathers travelled to America they had a lot of problems. They travelled with about 20 people on a very small boat. This made many people sick. The boat was so cramped that 2 men died and a baby was born! On the journey they didn’t have any materials with them so they could not do anything to fix the boat. They struggled heavily. It took them 65 days to travel across the ocean and land in America. They arrived on January the 4th 1920. It was extremely cold where they stayed. When the pilgrim fathers met Squanto it was like meeting god for them. This is because Squanto was fluent at English and he knew how to survive. Squanto taught the pilgrim fathers how to fish herring, how to plant corn his way and how to survive the winter. The Indians respected the land and shared it with everyone. No one owned any piece of land. However, the English wanted to trade land and keep it for themselves. The Indians did not like this because they considered their land as a god. The native Americans (Indians), taught the English to eat pumpkin pie and corn. This was very strange for the English because it wasn’t part of their usual diet. This is remembered on the 25th of November in America. They call it ‘thanks giving’.

Pass/Fail System Essay

The Use of Pass/Fail System The only thing that will give you as much heartache in school as love are grades (Colaba, n.d.). Throughout a student’s life in school, one is taught from society that the most important aspect in studies is to get good grades. Because of this, students’ motivation, learning, and even his or her personal progress are marginalized by the ‘ultimate goal’, which are the numbers use to evaluate one’s performance. We could observe this even at a very early stage at school, first graders for example. In the first grade, multiplication table is already taught and should be memorized and usually stars stamped at the back of the hands of the pupils are given as a reward for perfectly declaiming it. Of course, children would probably try to memorize the entire chart for the sake of getting stars. So what is now the motivation of the pupils? Instead of learning as their incentives, it would be the external reward. It is because it would create a competition between the students on who would get many stars. It goes the same with the numeric grading system. It is how high the number, the grade and the praise one would aspire instead. Students and society is so used to the grading system that it looks as if inexorable. As a result of it, students could not already perform without grades. Basically, it is the result of having the numeric grading system according to a professor from UPVTC. So why not use the Pass/Fail system rather than numeric? With that, students could avoid the anxiety those five little words always bring. Moreover, this Pass/Fail system would give students allowance for freedom within a pressurized environment and the reason why it is installed during 90’s on the first place. And having classes without any demands of distinguished grades would give a student a normal life in school. Better is one could escape the stress from aiming high grades. However, it still demands hard work to be able to pass. Still it needs involvement as student- participation, showing to the class, or merely do what regular students does. Perhaps at first there would be a more often attack of laziness because of freedom but in this case of situation, one could truly see that  studies need focus and seriousness to really be able to pass as well as to learn. Furthermore, students will be able to loosen their grasp to what grades have caused them. Like control their life at school and what is worse, let their ego shrink at times. When in fact you could learn to appreciate your courses and eventually learn them by heart not just because you need a shining grade. And through the pass/fail system, a student could indeed determine if the course truly interests him/her and if he/she would be willing to study and perform well even without grades. It is because nowadays, students are undeniably just doing school works because of the pressure of grades. Without grades, one could truly see the difference in viewing why people go to school. Another is that through the grading system we are using, we learned to be reinforced by other aspects- praises of teachers, grades, or any external reward which is a mistake. We let grade motivate us rather than us motivating our own self. Is it not better that we reinforce our own selves rather than something doing it? It is because in situations like this, we get to neglect new learning opportunities especially knowing that there will be no grades involve. Most of the time or all the times, we turn our back on and merely disregard voluntary readings and others that are ask voluntarily because it is not reinforced in the past. Knowledge for its own sake is not seen as a valid and valuable goal (Colaba, n.d). Wherein knowledge should be treated as the real reward and primarily be the reason why people go to school, an internal reward better than externals. Internal reward which is to be able to acquire what you have learned would be the true essence of studying. Perhaps others would say that it is better to have specific marks in transcripts so that higher grades would mean a white-collar job rather than merely seeing pass and fail. Well in reality, high grades do not really go with being a good and an effective employee. Numeric or letters in grading system is not equivalent to guts and skills. In fact, there were underdogs during their school years but became successful more than those best in  class. It is just a proof that a success of a person does not depend on his/her transcript. Maybe just knowing if you have simply passed or failed in college or high school before is already enough for an assessment to be accepted in a job. For some, they would say that the numeric/letter grading system would make the parents proud if ever their child would get good grades. But what if their child cannot? With the pass/fail, one could escape expected range of letters and numbers by their parents. For sure parents would still be proud seeing the pa ss mark in their child’s record. In addition are those that would say that how could they stabilize their efforts if there would be no certain grade to be aimed? The solution would be one should learn to organize and manage the time for studies. Do this sagaciously and learn to accept whatever would be the result of your efforts (Colaba, n.d.). And most of all love your craft. Probably the rest would say that it would be absolutely unfair to those who are best in class. At a certain point, yes it would be unethical to the best student in class because they would not get any appreciation anymore. But the question is how important it is to be acknowledged as the finest student? In a way, it would be used as reinforcement for one to maintain a good performance but again, this is just a part of an external reward. Knowing your certain rank would not mean recognizing your worth as a human being. And taking the idea that you are a better person because you could outshine others during examinations makes you a foolish person as supposed by Dr. Colaba, a professor in UPVTC. Moreover rank would not assure satisfaction, happiness, as well as oneâ€℠¢s success. Thus, pass/fail system is better than any numeric/letter grading system. A student could simply know whether he/she passed or not and there is no pressure. However this does not mean to discourage students about the present grading system or dispirit them to aim good grades. Maybe not until it would lead to anxiety and driving one’s ego. Anxiety does not help students to learn and in fact it is a destructive motivation. And letting something drive your ego instead of you taking control of it has never been good as well. The pass or fail system would definitely change one’s view in school.

Argumentative Essay Sample on New Media Channels

Argumentative Essay Sample on New Media Channels Defining the new media and their role in American politics is an important, albeit somewhat challenging, task. In this book, we argue that the new media are quantitatively and qualitatively different from the mainstream press. They do not simply represent a variation of the established news media. The new media have significant potential to educate, facilitate public discourse, and enhance citizen participation. They provide mass audiences with a seemingly boundless array of sources that transcend the time and space constraints of traditional media. In addition, new media technologies easily bypass national and international boundaries, bringing American citizens into contact with diverse cultures and distant happenings to an extent previously unimaginable. As such, new media have the potential to enhance the publics understanding and tolerance of different societies. However, new medias promise is undercut by the commercial and entertainment imperatives that drive them. In reality, the political role of new media is ancillary. The new media are political when politics pays. Thus the new medias role in the political realm is volatile. Their educational function is incomplete and sporadic. The new media constitute a highly diverse range of communication formats. One way of distinguishing between types of new media is to categorize them on the basis of whether they employ old or new technologies. For many forms, the term new media is a misnomer. They involve old media technologies that have been newly discovered or reinvigorated as political media. It is the extent of their politicisation that is new, not their existence. Thus there is a sense of novelty even in those media that have existed for some time. New media that employ old communication technologies include political talk radio, television talk shows, television news magazines, electronic town meetings, and print and electronic tabloids. Political talk radio, for example, dates back to the origins of radio itself in the 1920s. Early radio stations featured not only news, but also political broadcasts, such as conventions, presidential inaugurations, and speeches of presidents and other public officials. Television talk programmes also are not new. Morning variety talk shows, such as Today, Good Morning America, and CBS This Morning certainly predate the current interest in new media. The Today Show first aired in 1952, while CBS Morning News debuted five years later. Phil Donahues nationally syndicated talk programme premiered in 1970 and featured presidential candidate debates from 1984 to 1994. His programme became a significant venue for Democratic presidential primary candidates in 1992. There are many more examples of particular new media programmes that did not exist a decade ago. The nationally syndicated Rush Limbaugh radio programme appeared in 1989 and his television show first aired in September 1992. Many other talk radio hosts with large national audiences, such as G. Gordon Liddy and Michael Reagan, have emerged only in the 1990s. MTVs political campaign coverage did not debut until the 1992 presidential primary election. In addition, new media channels employing traditional media technology have surfaced in recent years. For instance, even though cable is not a new format for broadcasting, new channels designed at least partly for political talk now exist, including C-SPAN, CNBC, The Talk Channel, MSNBC, and The Comedy Channel. Some formats are genuinely new, having evolved from more recent innovations in communications technologies. The proliferation of online computer networks, coupled with an explosion in the use of home computers, has created new methods for political communication. Fax machines and voice mail operations facilitate citizens ability to register opinions with politicians and journalists. These new technologies infuse political communication with a new immediacy. The public can now receive and disseminate political messages with increased ease and speed.

Truck Stop - Business Plan

Truck Stop - Business Plan 1.0 Executive SummaryInterstate Travel Center is intended to be the major travel center in Dallas, Texas. It will consist of a convenience store, gas/diesel islands, restaurant, and amenities for the trucking business. Interstate Travel Center is a corporation owned and operated by Steve and Janet Smith.The company's management philosophy is based on responsibility and mutual respect. Interstate Travel Center has an environment and structure that encourages productivity and respect for customers and fellow employees.Interstate Travel Center is organized into two main functional areas: convenience stores of this type of freight are food and consumer staples delivered locally, and manufactured goods shipped between commercial establishments or delivered to consumers or retail outlets.Truckers have the largest share of the freight market. Unlike railroads, pipelines, or water carriers, they don't face geographic limits caused by physical constraints, and can offer door-to-door service. They also pay relatively little to use the nation's highway system. Railroads, by contrast, must build, maintain, and police their rights-of-way.The trucking industry consists of two broad segments: private and for-hire. In turn, for-hire truckers fall into two broad categories: truckload (TL) and less-than-truckload (LTL) carriers.The accompanying Market Analysis chart and table reflect the total projected potential customers that Interstate Travel Center might acquire. The categories have been simplified to include all instate commercial trucks (both the TL and LTL segments) and all instate private vehicles as listed in the U.S. Department of Transportation's 1997 Vehicle Inventory for the state of Texas. The listed number of private vehicles in Texas is approximately 17 million, however, only a small percentage of private vehicle owners will be inclined to prefer truck stops over gas stations. Therefore, instead of using the larger number, a percentage of the overall private vehi cles based on the percentage of private vehicles that truck stops service is used. The third category contains all interstate and NAFTA-based commercial business that passes through Texas, and the final category reflects all out-of-state private vehicles, such as tourists. Again, the numbers in this final category reflects a percentage of out-of-state private vehicles that truck stops normally service.The growth rates used in this table are based on figures available from the U.S. Department of Transportation. The growth rate for the out-of-state and NAFTA commercial vehicles is only approximate, as it is difficult to project what affects investments in the "Port-to-Plains" trade corridor will have on traffic that passes adjacent to the travel center.Finally, it must be noted that although the Market Analysis table indicates that the largest market segment is instate private vehicles, the actual percentage will probably be significantly less. Experience has shown that the largest pe rcentage of vehicles serviced by truck stops, such as Interstate Travel, is in the commercial truck segment.Market Analysis (Pie)Click to EnlargeMarket AnalysisPotential Customers Growth 2001 2002 2003 2004 2005 CAGRInstate Commercial Trucks 4% 500,102 517,606 535,722 554,472 573,879 3.50%Out-of-state Commercial Trucks 6% 285,111 302,218 320,351 339,572 359,946 6.00%Instate Private Vehicles 3% 1,286,952 1,325,561 1,365,328 1,406,288 1,448,477 3.00%Out-of-state Private Vehicles 4% 458,154 476,480 495,539 515,361 535,975 4.00%Total 3.63% 2,530,319 2,621,865 2,716,940 2,815,693 2,918,277 3.63%4.1 Market Segmentation [back to top]With some $344 billion in 1998 revenues, the trucking (or motor carrier) business claimed approximately 79% of the U.S. commercial freight transportation market. This total was divided among two sectors: private carriage and for-hire.Figure 3. Commercial Freight Distribution(In billions of dollars)Transportation Billion $ % of TotalTrucking, Total $344 63.6%Pri vate, Interstate $115 21.3%Private, Local $85 15.7%Truckload $65 12.0%Local For-Hire $40 7.4%LTL, National $9 1.7%LTL, Regional $11 2.0%Package/Express (ground) $19 3.5%Railroad $36 6.7%Pipeline (oil gas) $26 4.8%Air freight, Package Domestic $17 3.1%Air freight, Heavy Domestic $6 1.1%Water (Great Lakes/rivers) $7 1.3%Transportation Total* $436 80.6%DistributionWarehousing $70 12.9%Logistics Administration $35 6.5%Distribution Total $105 19.4%Total $541 100.0%*Excluding $5 billion in international cargo.Sources: Standard Poor's, Data Resources, Inc., and Cass Information Systems.Private CarriersAlthough private carriers comprise the largest component of the motor carrier industry, financial information isn't available for them. However, the industry is estimated to provide services valued at some $200 billion annually (or 58% of motor carrier revenues in 1998).The Private Truck Council estimates that there are more than three million trucks operated by private fleets, and these tr ansport 3.5 billion tons of freight annually.For-Hire CarriersThe For-hire category generated $144 billion in 1998, or 42% of the industry total. Of that $144 billion, some $105 billion (73% of the sector's business) came from truckload shipments, and $39 billion (27%) was from less-than-truckload and package/express delivery.Truckload (TL): The national for-hire truckload segment had total revenues of $65 billion in 1998. The TL sector is largely privately owned, with the exception of the top ten publicly owned companies. (For this reason, we focus on the LTL sector in this survey.) Schneider National Carriers is the largest TL operator, with revenues of $2.8 billion in 1998, followed by J.B. Hunt Transport Services ($1.8 billion) and the Landstar family of truckload carriers ($1.3 billion). Of the 50,000 truckload carriers, perhaps 95% have annual revenues of less than $1 million.Less-than-truckload (LTL): We estimate that the less-than-truckload market garnered $20 billion in 199 8. Of this amount, the fast growing regional segment accounted for slightly more than the national market.The largest national LTL carrier in 1998 was Roadway Express Inc., with $2.32 billion in LTL revenues in that year; the company's total revenue of $2.55 billion includes TL freight. Yellow Freight System (a unit of Yellow Corporation) was close behind, with $2.25 billion (out of $2.46 billion total). Consolidated Freightways Corporation was third, with $1.95 billion in LTL revenues.In the regional LTL market, Con-Way Transportation (a unit of CNF Transportation Inc.) was the largest player, with $1.5 billion in LTL revenue in 1998. Second place belonged to US Freightways, whose family of five carriers has generated some $1.4 billion in LTL revenue. American Freightways Corporation was third, with $928 million in LTL revenues.4.1.1 Market Trends [back to top]Industry TrendsWhile a driver shortage continues to plague the truckload sector, the LTL carriers have adapted to changing market conditions in order to capitalize on growth opportunities. Intermodal shippers also stand to benefit from market trends. Finally, the evolution of e-commerce stands to intensify competition among all carriers.E-commerce is Big BusinessThe Internet is rapidly changing how the consumer selects and purchases merchandise. Age-old relationships between vendors, distributors, retailers, and carriers are being torn apart. For many Internet users, the computer has displaced the telephone as a means of transmitting a purchase order, while catalog vendors who have put their wares on the Internet may now receive orders electronically, in addition to mail and phone orders. For the shipping industry, e-commerce is changing the way in which goods are ordered.The estimated size and growth potential for e-commerce varies widely. Forrester Research, based in Cambridge, Massachusetts, has estimated e-commerce at the consumer level at $7.8 billion in 1998, and projects that it will rise to $18 billion in 1999, $33 billion in 2000, and $108 billion in 2003. According to Forrester, total worldwide e-commerce, including business-to-business transactions, was estimated at $43 billion in 1998, and projected to hit $127 billion in 1999.The Direct Marketing Association has calculated that e-commerce generated just $5.9 billion in 1998 (or 0.2% of sales), and will climb to 2.5% of retail sales by 2004, representing a 50% annual compound growth rate during this period.4.1.2 Market Growth [back to top]Dallas SupportAccording to information released by the Texas Department of Transportation (TxDOT), nearly $600 million in projects are already programmed over the next four years, and more than $1 billion in additional transportation projects are recommended for the Dallas region. The projects are on top of a $175 million increase in NAFTA transportation funding through 2003 that was part of the border initiative announced in April, 1999.It is said that a Ports-To-Plains Trade Corrido r could be in the future for Dallas, making it a major port of entry to Mexico. The corridor has been named a high priority corridor by the U.S. Congress, which has placed a greater emphasis on improving transportation in these regions. The major highway would have a direct route from the northern United States to two major port entries: Dallas and Eagles Pass.4.2 Business Participants [back to top]Industry: Trucking Terminal FacilitiesFigure 4, below, indicates the Market Statistics for trucking terminals. These are defined as establishments primarily engaged in the operation of route transshipment facilities used by highway-type property-carrying vehicles, including complexes which provide maintenance and service for motor vehicles.Figure 4: Market Size Statistics-Terminal FacilitiesEstimated number of U.S. establishments 1,386Number of people employed in this industry 64,105Total annual sales in this industry $181 millionAverage employees per establishment 52Average sales per est ablishment $.8 millionIndustry: Gasoline Service StationsGasoline service stations primarily engage in selling gasoline and lubricating oils. These establishments frequently sell other merchandise, such as tires, batteries, and other automobile parts, or perform minor repair work. Gasoline stations, combined with other activities, such as grocery stores, convenience stores, or carwashes, are classified in Figure 5 below according to primary activity.Figure 5: Market Size Statistics-Gasoline Service StationsEstimated number of U.S. establishments 71,159Number of people employed in this industry 471,041Total annual sales in this industry $98,817 millionNumber of employees per establishment 7Average sales per establishment $1.8 millionMarket Analysis by SpecialtyFigure 6 provides a market analysis by specialty for the gasoline service stations segment.Figure 6: Market Analysis by SpecialtySIC Code SIC Description Number of Businesses % of Total Total Employees5541-0000 Gasoline Service Stations 50,544 71% 286,0625541-9901 Filling Stations, Gasoline 18,844 26.5% 137,8975541-9902 Marine Service Station 171 0.2% 1,1235541-9903 Truck Stops 1,600 2.2% 45,959Total/Average 71,159 100% 471,041Note: Not all establishments have a specialty.5.0 Strategy [back to top]Interstate Travel Center's strategy is to develop a major travel center in Dallas, Texas. The center will consist of a major convenience store, gas/diesel islands, restaurant, and amenities for the trucking business. Key components of the company's initial strategy are summarized as follows:Advertising. Promote the new business through extensive advertising.Location. Provide a clean, safe and appealing location for travelers.Convenient center. Provide a convenient center with a full array of products and services for those that are traveling as well as for the citizens of Dallas and the surrounding communities.One-stop shop. Be the one-stop shop for travelers to and from Dallas.NAFTA trucking trade business. Cat er to the NAFTA trucking trade business.Good return on investment. Maintain a profitable business with a good return on investment.Interstate Travel Center will be developed in four phases. Phase development will enable the owner/operator to introduce viable, profitable goods and services without over-building. Over-building at this location would be easy to do because of the slower growth of the area associated with NAFTA, it would also mean certain failure if the owner/operator cannot secure resources for several years of financial staying power to support a negative cash flow. The timeline for the implementation of the various phases is contingent upon customer response and profitability and action is initiated at the discretion of the owners. It is assumed that the implementation of Phase II will occur sometime after the first three years of operation.Phase I: Initial DevelopmentDiesel fueling lanes: four; dual-sided fueling.Gasoline MPDs: four dispensers.Travel Store: Approxima tely 3,000 square feet.Showers: Approximately four stalls.Truck Loungers.Game Room.Restaurant: Seating for 64-69 patrons.Truck Parking: room for approximately 100-150 trucks.Scales: Owner to purchase scales.Phase II: Increased Goods and Services, Third Year of OperationDiesel fueling lanes: add two for a total of six lanes.Truck parking: add 100-150 spaces.Phase III: Increased Goods and Services, Fifth Year of OperationDiesel fueling lanes: increase to eight dual-sided fueling.Gasoline MPDs: increase to six dispensers.Travel Store: Enlarge to 4,800 square feet.Showers: Add four for a total of eight stalls.Truck services: Add lease space for truck services such as tires, batteries, oil and lube.Phase IV: Increased Goods and Services, Sixth Year of OperationAdd fast food unit.Add additional restaurant seating for a total of 100 patrons.Motel: Add 48 room unit.Truck Parking: Add 100 spaces (Total 400-525).Truck Wash.5.1 Marketing and Sales [back to top]A small traveler's guide will be published to advertise the travel center and all it has to offer. Advertising will be disseminated through the use of local newspapers, and radio and television commercials. Other promotional items, such as billboards and local chamber of commerce propaganda will also be employed. Customer service will be the number one priority of this business. This will, in turn, generate repeat business.5.2 Sales Strategy [back to top]The sales figures are based on projections of vehicles using the major highways adjacent to Interstate Travel Center. The yearly growth figures are based on conservative projections of increasing customer use as marketing and customer retention builds an established customer base. The growth rate for gas/diesel is five percent per year for the first three years. The restaurant growth rate is slightly higher, at seven percent per year. It it assumed that this venture will grow a stable customer base more quickly than the other ventures due to its more unique product experience. Finally, the growth rates for the travel store is set at four percent per year. This again reflects the belief that this venture will have the most difficulty in building service awareness and retention.Sales MonthlyClick to EnlargeSales ForecastUnit Sales 2001 2002 2003Diesel (gallons) 2,550,000 2,677,500 2,811,375Gasoline (gallons) 1,050,000 1,102,500 1,157,625Travel Store 230,004 236,904 244,011Interstate Travel Restaurant 81,276 86,965 93,052Rebates, allowances, etc. 246,600 246,600 246,600Total Unit Sales 4,157,880 4,350,469 4,552,663Unit Prices 2001 2002 2003Diesel (gallons) $1.75 $1.75 $1.75Gasoline (gallons) $1.50 $1.50 $1.50Travel Store $3.75 $3.75 $3.75Interstate Travel Restaurant $13.00 $13.00 $13.00Rebates, allowances, etc. $1.00 $1.00 $1.00SalesDiesel (gallons) $4,462,500 $4,685,625 $4,919,906Gasoline (gallons) $1,575,000 $1,653,750 $1,736,438Travel Store $862,515 $888,390 $915,041Interstate Travel Restaurant $1,056,588 $1,130,545 $1,209,676Rebates, allowan ces, etc. $246,600 $246,600 $246,600Total Sales $8,203,203 $8,604,910 $9,027,661Direct Unit Costs 2001 2002 2003Diesel (gallons) $1.67 $1.67 $1.67Gasoline (gallons) $1.40 $1.40 $1.40Travel Store $0.75 $0.75 $0.75Interstate Travel Restaurant $2.00 $2.00 $2.00Rebates, allowances, etc. $0.00 $0.00 $0.00Direct Cost of Sales 2001 2002 2003Diesel (gallons) $4,258,500 $4,471,425 $4,694,996Gasoline (gallons) $1,470,000 $1,543,500 $1,620,675Travel Store $172,503 $177,678 $183,008Interstate Travel Restaurant $162,552 $173,930 $186,104Rebates, allowances, etc. $0 $0 $0Subtotal Direct Cost of Sales $6,063,555 $6,366,533 $6,684,7846.0 Management Summary [back to top]Steven and Janet Smith will be the sole owners of Interstate Travel Center for the foreseeable future. It is planned that a management staff, consisting of a full-time manager and a part-time assistant manager, will be hired to handle the day-to-day operations of both the gas/diesel service and the restaurant sections of the travel c enter. As the company continues to grow, so too will management.Personnel Plan2001 2002 2003Steve Smith $50,000 $50,000 $50,000Janet Smith $50,000 $50,000 $50,000Convenience store/Gas station Manager $31,200 $31,200 $31,200Restaurant Manager $36,000 $36,000 $36,000Assist Manager - Cook $28,800 $28,800 $28,800Cook 2 $26,880 $26,880 $26,880Cook 3 $26,880 $26,880 $26,880Cook 4 $26,880 $26,880 $26,880Cook 5 $26,880 $26,880 $26,880Cook 6 $26,880 $26,880 $26,880Waitress/Waiter $11,808 $11,808 $11,808Waitress/Waiter $11,808 $11,808 $11,808Waitress/Waiter $11,808 $11,808 $11,808Waitress/Waiter $11,808 $11,808 $11,808Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Assist. Manager - Cashier $9,000 $9,000 $9,000Cashier $6,000 $6,000 $6,000Cashier $6,000 $6,0 00 $6,000Cashier $6,000 $6,000 $6,000Cashier $6,000 $6,000 $6,000Maintenance $9,600 $9,600 $9,600Total People 0 0 0Total Payroll $481,672 $481,672 $481,6727.0 Finance [back to top]The following topics outline the financials for Interstate Travel Center.7.1 Assumptions [back to top]The chart indicating the projected cash account does not take into account the investment needed to initiate Phases II-IV. The General Assumptions table states some of the more important business assumptions for the company.General Assumptions2001 2002 2003Plan Month 1 2 3Current Interest Rate 10.00% 10.00% 10.00%Long-term Interest Rate 10.00% 10.00% 10.00%Tax Rate 25.42% 25.00% 25.42%Other 0 0 07.2 Break-even Analysis [back to top]The break-even chart and table below describe how much money will need to be made to be profitable each month. As can be seen in the table, 224,821 units per month, or $116,907, is necessary for Interstate Travel Center to be in the black. These numbers can also be seen with the accompanying chart.7.3 Projected Cash Flow [back to top]The following table and chart reveal the projected cash flow for Interstate Travel Center for fiscal years 2001, 2002, and 2003.CashClick to EnlargePro Forma Cash Flow2001 2002 2003Cash ReceivedCash from Operations:Cash Sales $8,203,203 $8,604,910 $9,027,661Cash from Receivables $0 $0 $0Subtotal Cash from Operations $8,203,203 $8,604,910 $9,027,661Additional Cash ReceivedSales Tax, VAT, HST/GST Received $0 $0 $0New Current Borrowing $0 $0 $0New Other Liabilities (interest-free) $0 $0 $0New Long-term Liabilities $0 $0 $0Sales of Other Current Assets $0 $0 $0Sales of Long-term Assets $0 $0 $0New Investment Received $0 $0 $0Subtotal Cash Received $8,203,203 $8,604,910 $9,027,661Expenditures 2001 2002 2003Expenditures from Operations:Cash Spending $714,316 $732,403 $772,642Payment of Accounts Payable $6,500,180 $7,133,241 $7,484,370Subtotal Spent on Operations $7,214,496 $7,865,644 $8,257,012Additional Cash SpentSales Tax, VAT, HS T/GST Paid Out $0 $0 $0Principal Repayment of Current Borrowing $0 $0 $0Other Liabilities Principal Repayment $0 $0 $0Long-term Liabilities Principal Repayment $275,000 $275,000 $275,000Purchase Other Current Assets $0 $0 $0Purchase Long-term Assets $0 $0 $0Dividends $0 $0 $0Subtotal Cash Spent $7,489,496 $8,140,644 $8,532,012Net Cash Flow $713,707 $464,266 $495,649Cash Balance $963,707 $1,427,973 $1,923,6227.4 Projected Profit and Loss [back to top]The chart and table below projects the yearly profit and loss for the company. For a monthly breakdown, please see the appendices following the plan.Pro Forma Profit and Loss2001 2002 2003Sales $8,203,203 $8,604,910 $9,027,661Direct Costs of Goods $6,063,555 $6,366,533 $6,684,784Other $0 $0 $0 Cost of Goods Sold $6,063,555 $6,366,533 $6,684,784Gross Margin $2,139,648 $2,238,377 $2,342,878Gross Margin % 26.08% 26.01% 25.95%Expenses:Payroll $481,672 $481,672 $481,672Sales and Marketing and Other Expenses $220,800 $278,800 $378,800Deprecia tion $30,000 $30,000 $30,000Leased Equipment $49,800 $49,800 $49,800Utilities $49,200 $49,200 $49,200Insurance $91,800 $91,800 $91,800Rent $24,000 $30,000 $34,000Payroll Taxes $72,251 $72,251 $72,251Other $0 $0 $0 Total Operating Expenses $1,019,523 $1,083,523 $1,187,523Profit Before Interest and Taxes $1,120,125 $1,154,854 $1,155,355Interest Expense $235,104 $208,750 $181,250Taxes Incurred $224,890 $236,526 $247,585Net Profit $660,131 $709,578 $726,520Net Profit/Sales 8.05% 8.25% 8.05%Profit MonthlyClick to Enlarge7.5 Business Ratios [back to top]The table below outlines industry profile statistics for the gas and service station industry, as determined by the Standard Industry Classification (SIC) Index code 5541, Gasoline Service Stations. These statistics show a comparison of the industry standards and key ratios for this plan.Ratio Analysis2001 2002 2003 Industry ProfileSales Growth 0.00% 4.90% 4.91% 10.80%Percent of Total AssetsAccounts Receivable 0.00% 0.00% 0.00% 10.60%Inve ntory 8.91% 8.08% 7.40% 13.30%Other Current Assets 1.76% 1.52% 1.33% 25.60%Total Current Assets 44.65% 53.10% 59.86% 49.50%Long-term Assets 55.35% 46.90% 40.14% 50.50%Total Assets 100.00% 100.00% 100.00% 100.00%Current Liabilities 17.14% 15.18% 13.98% 31.60%Long-term Liabilities 78.45% 59.39% 44.52% 23.10%Total Liabilities 95.59% 74.58% 58.50% 54.70%Net Worth 4.41% 25.42% 41.50% 45.30%Percent of SalesSales 100.00% 100.00% 100.00% 100.00%Gross Margin 26.08% 26.01% 25.95% 16.50%Selling, General Administrative Expenses 17.99% 17.77% 17.86% 10.40%Advertising Expenses 2.34% 2.32% 2.77% 0.20%Profit Before Interest and Taxes 13.65% 13.42% 12.80% 0.50%Main RatiosCurrent 2.60 3.50 4.28 1.55Quick 2.08 2.96 3.75 0.91Total Debt to Total Assets 95.59% 74.58% 58.50% 54.70%Pre-tax Return on Net Worth 707.28% 113.35% 62.39% 2.50%Pre-tax Return on Assets 31.20% 28.82% 25.89% 5.50%Additional Ratios 2001 2002 2003Net Profit Margin 8.05% 8.25% 8.05% n.aReturn on Equity 527.55% 85.01% 46.54% n.aActivit y RatiosAccounts Receivable Turnover 0.00 0.00 0.00 n.aCollection Days 0 0 0 n.aInventory Turnover 24.00 24.58 24.59 n.aAccounts Payable Turnover 14.37 14.33 14.28 n.aPayment Days 24 25 25 n.aTotal Asset Turnover 2.89 2.62 2.40 n.aDebt RatiosDebt to Net Worth 21.67 2.93 1.41 n.aCurrent Liab. to Liab. 0.18 0.20 0.24 n.aLiquidity RatiosNet Working Capital $780,131 $1,244,709 $1,726,229 n.aInterest Coverage 4.76 5.53 6.37 n.aAdditional RatiosAssets to Sales 0.35 0.38 0.42 n.aCurrent Debt/Total Assets 17% 15% 14% n.aAcid Test 2.08 2.96 3.75 n.aSales/Net Worth 65.56 10.31 5.78 n.aDividend Payout 0.00 0.00 0.00 n.a

Business Environment of Reed Elsevier

Business Environment of Reed Elsevier The following report details the findings of our research carried out on the business environment of Reed Elsevier PLC. We have incorporated strategy analysis tools such as SWOT, Porters 5 Forces Framework and Financial Analysis to aid us in analyzing all the relevant internal and external factors that play important roles in shaping Reed Elsevier’s business environment. 1.1 Introduction Reed Elsevier is a leading provider of professional research information to organizations around the world. It publishes journals, books and databases and manages exhibitions and events. Its well-known titles such as New Scientist and The Lancet – appear both in print and online. Reed Elsevier has a worldwide customer base working in many fields, including science, research and the law, as well as in public and academic libraries and commercial organizations. This includes around 11 million scientists who access information direct from Reed Elsevier’s ScienceDirect database, whi ch is the world’s largest online library of full-text research papers. Reed Elsevier was formed in 1993 when the businesses of the British Publisher Reed International and the Dutch publisher Elsevier NV merged. The company now operates in more than 200 locations worldwide with annual revenues for 2010 being  £6 billon. To enable the business to focus on specific customer needs, the company has five divisions. They are Elsevier, LexisNexis Risk Solutions, LexisNexis Legal & Professional, Reed Exhibitions and Reed Business Information. 1.1.1 Elsevier Elsevier is the world’s leading provider of scientific and medical information and serves scientists, health professionals and students worldwide. It annually produces over 200,000 new research articles in over 1,100 journals every year, with ScienceDirect, its flagship electronic solution accessed by over 11 million users. Elsevier’s contribution to the total revenue of Reed Elsevier for the year 2010 amounts to 3 4% while it is accountable for 46% of the group’s total operating profit as shown in the pie charts below. 1.1.2 LexisNexis Risk Solutions LexisNexis Risk Solutions provides data and analytics to enable its customers to evaluate and manage risks associated with transactions and improve performance. It is also a leading provider of work flow solutions that combine proprietary, public and third party information, analytics and advanced technology. These solutions assist customers in evaluation, predicting and managing risk and improving operational effectiveness, predominantly in the US. Its contribution to total revenue is 15% while it accounts for 23% of the groups operating profit during the last financial year. 1.1.3 LexisNexis Legal & Professional This division is charged with providing content and information solutions for the legal and other corporate markets with a customer base in over 100 countries. LexisNexis Legal & Professional provides resources and services that inform decisions and increase productivity within organizations. For the year ended 31 December 2010, this division contributed 28% towards the group’s revenue while its contribution towards operating profit was 15%. 1.1.4 Reed Exhibitions Reed exhibitions contributed 11% and 10% towards group revenue and operating profit respectively during the year 2010 and was responsible for the staging of over 460 events in 36 countries which brought together over seven million active participants worldwide in 2010. 1.1.5 Reed Business Information Reed Business Information provides business information, online data and marketing solutions. Through industry critical data services, lead generation tools, over 200 community and job sites and more than 200 premier business magazines, Reed Business Information provides valued information to professionals and an effective channel for advertisers. It was responsible for 12% of group revenue in 2010 and 6% of the groups operating profit.

Genealogy of Morality By Friedrich Nietzsche Essay

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Is Disability a Medical or Social Concern Essay

Is Disability a Medical or Social Concern - Essay Example Mental health problems have been around us as long as there has been a acceptance of mental health discrepancies. In the modern world, many of the stigmas and social problems connected with mental health concerns have been overcome by the people but still a lot remains to be done before we can arrive at a position where there is no social stigma associated with mental disabilities (Fernando, 1995). In fact, whilst it would be logical to assume that stigmatisation and the social issues are limited to the general population, in reality the stigmatisation can also be observed amongst doctors, nurses and social workers who are not supposed to be have such issues.Such as case was noted by Happell where one of the mentally disabled individuals she was working with received a negative remark from an official. She says that, â€Å"The remark, which was made in an official capacity, questioned, perhaps even refuted, one of the most basic human rights for people diagnosed with a mental illnes s (Happell, 2005, Pg. 1)†. The remark came from someone in an official capacity which goes to show that negative stereotypes and stigmatization of those with mental disabilities continues despite laws made to protect them.The reasons why disabilities issues are a social concern are quit complex since there a number of influences which make them so. It is certainly a matter of concern that despite of the progress we have made, there are still problems that remain when it comes to dealing with cases where individuals have disability problems.

Global Fashion Industry with a Focus on Moet Hennessy Louis Vuitton Essay

Global Fashion Industry with a Focus on Moet Hennessy Louis Vuitton - Essay Example The essay "Global Fashion Industry with a Focus on Moet Hennessy Louis Vuitton" examines the industry of fashion. The company owns over sixty brands and some of them, like Veuve Clicquot Ponsardin (1772), Chateau d'Yquem (1593), , Guerlain in 1829, Louis Vuitton (1854), Hennessy (1765), Moà «t et Chandon (1743) the have been in the market since the past two centuries (McCrone, 2006). It operates 5 different category of products including wines and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelry, and selective retailing. LV had been following a strategy of innovation, differentiation and strategic mergers to become a market leader in the fashion industry (Lent, Tour and Perrin, 2009). The company offers exclusivity and high quality and is driven by the motto of attention to detail to deliver the best quality. It follows a policy of developing a brand image that is shared across its brands and supported by all the activities undertaken by the company. T his report contains an analysis of the macro environment (using PESTEL framework) for the global fashion industry to assess the threats and opportunities that an organization like LV may face. It also contains a micro analysis or industry analysis of the fashion industry to evaluate the business environment and the challenges that LV faces. Finally, an internal strength and weakness analysis is conducted to assess how the strengths of LV can be used to capture the opportunities proffered by the macro and the micro environment., and what it needs to do to overcome its weaknesses in order to combat the threats posed by its business environment.   Finally, the report discusses the current strategy of LV in the light of the SWOT analysis and makes appropriate recommendations.    PESTEL Analysis    Political Environment The fashion industry has seen a revolution in terms of its penetration and reach across the diverse cultures and markets globally (Kapferer and Bastien, 2009). The advent of globalization and liberalization of economies across the world have made it possible for products from one end of the globe to be displayed and bought at the other end. The fashion industry too has seen a rapid proliferation across the borders owing to the political liberalization and increased acceptance of the Western lifestyle by the growing middle class in the developing countries (Kotler and Keller, 2011). The political liberalization on one hand has made it possible for brands like LV to be sold across diverse regions like China, India, Brazil and Africa, while on the other hand there has been an increased political activism at the grassroots level in several countries against high fashion and the trend of consumerism (British Standards Institution, 2011). Foreign brands, especially the luxury brands are often the target of censure and attacks in countries where movements are under way or where there is widespread resistance to liberalization. It can be seen that whi le there is scope for international expansion, there is also a need to understand the local sentiments and culture so that the brands can become acceptable and likable internationally.    Economic Environment The recent financial crisis of 2008-2009 saw the fashion industry too see a slow down in sales and business. Large and popular organizations like the Australian Hrringbone and Centro have posted large losses during the crisis period. In addition to loss of revenues, there was also a potent impact on the trends in the fashion –

Article Analysis Report (Macroeconomics) Essay Example | Topics and Well Written Essays - 2000 words

Article Analysis Report (Macroeconomics) - Essay Example The world economic situation is apparently under deep scrutiny owing to its frequent fluctuations and rapid alterations which has left multiple countries, irrespective of their global presence as a developing or a developed economy, unstable. It is in this context that fluctuations in the global economic environment also lead to fluctuations in the national contexts of various economies including the US, one of the leading and large economies. Owing to the current economic conditions of the US, Denham (2012) pointed that a larger proportion of funds have been allocated to the public sector of the economy which has left private sector with average funds that might prove insufficient in the future due to international competitions and altering demographic features. Denham (2012) also noted that as the economy intends to massively increase its tax rates, US is likely to witness the challenge of ‘fiscal cliff’ in the near future. In the international context, EU being a larg e contributor to the global Gross Domestic Product (GDP) and therefore operate partially as a world economic power house, may also impose an inevitable impact upon the economic stability of the US owing to the currently witnessed Euro Zone debt crisis. Additionally, poor oil market and export-import industrial performances, US is also quite likely to face the issue of fiscal deficit in the preceding years (Denham, 2012). In the words of Denham (201), â€Å"it seems the fiscal cliff saga is the main focus topic and the rest has little influence†. However, as stated by Denham (2012), ‘fiscal cliff’ is not the only economic challenge that attracts attention with concern to the US economic stability from the global sphere. Furthermore, as stated by Moore (2012), such measures can again lead to a double-dip crisis situation. Indeed, the issues noted by Denham (2012) are noteworthy to ensure economic stability in the US from a future perspective. Nevertheless, agreeing with the issues noted by Denham (2012), Newman (2012) stated that apart from the alleged ‘

Letter of recommendation Essay Example | Topics and Well Written Essays - 250 words - 4

Letter of recommendation - Essay Example As a business and quality assurance analyst, Alvi demonstrated tremendous leadership and management skills. He acted as the link between the project team and the client, and he ensured that client requirements are effectively communicated to the team. His ability to coordinate project activities and monitor progress ensured that the final product met the needs of the client. His ability and eagerness to understand and resolve issues with project stakeholders made him the most outstanding and respected member of the team. Mr. Alvi was willing to go out of his way and help others during the project life. I was pleased with his creative and critical thinking ability. He was able to communicate authoritatively without hurting the feelings of other members. During the interactions I had with him, Alvi emphasized on the importance of applying knowledge acquired in class in undertaking real life projects. While working on the project, Alvi remained vigilant and never failed to ask the team members questions on unfamiliar matter or idea. Consequently, Alvi was ready to share his knowledge by explaining to other members any new concepts and ideas. Due to His desire to learn and apply his IT skills, Alvi occasionally reported to work with his laptop that contained notes and other resources. On many occasions, Alvi talked about his desire to further his education in IT. I believe that if offered chance, Alvi has the potential to use his knowledge and skills to transform the society for the better. His commitment and willingness to apply his knowledge make him a suitable candidate for this program. I believe he will be more than a student and prove to be a major asset to the program. I therefore offer my highest

Your pick for THIS PROJECT Assignment Example | Topics and Well Written Essays - 250 words - 1

Your pick for THIS PROJECT - Assignment Example In 2008, we organized a two-week corporate tour for Barclays Bank employees. Egypt was their target destination and we are proud to announce that the trip was a success. The trip was intended to be an appraisal for outstanding performers and we were able to enable them to fulfill their dream. At Explorer Tours, we believe in offering the best value for money. Thus our cost policies are designed to cater to a wide range of customers who value our services. We enjoy outstanding collaboration with other established business partners such as hotels and airline companies and hence we are able to strike the best deals for our customers. At our company, you can find the best deals for beach holidays, all inclusive cruises, family holidays, corporate holidays and adult holidays. We also have special discounts for cooperates, return and referred customers. Our prices range from  £ 666 -  £200 per person depending on the destination and accommodation requirements. At explorer tours and travel, you will never go wrong with late booking, trip cancellation and occurrence of unfortunate events. Tours and travel is a risky venture and therefore we are concerned with the welfare of our customers. To facilitate smooth operations, we have partnered with Argos Travel Insurance Company. In addition, our contract requires us to assume full responsibility for our customers and their belongings. We value our customers and therefore we provide cover for trip cancellations and other insurable events. For more information on travel packages, offers, holiday destinations and adventure clubs visit our website at explorertours.com. Corporate clients are requested to be on the lookout for our upcoming team-building trip to be held in Sao Paulo, Brazil. The website also has latest information on tours and travel and the trendy holiday destinations. Information on baggage allowance, online bookings, credits cards and advance payments is also available on the website. Testimonies and

Letter of recommendation Essay Example | Topics and Well Written Essays - 250 words - 4

Letter of recommendation - Essay Example As a business and quality assurance analyst, Alvi demonstrated tremendous leadership and management skills. He acted as the link between the project team and the client, and he ensured that client requirements are effectively communicated to the team. His ability to coordinate project activities and monitor progress ensured that the final product met the needs of the client. His ability and eagerness to understand and resolve issues with project stakeholders made him the most outstanding and respected member of the team. Mr. Alvi was willing to go out of his way and help others during the project life. I was pleased with his creative and critical thinking ability. He was able to communicate authoritatively without hurting the feelings of other members. During the interactions I had with him, Alvi emphasized on the importance of applying knowledge acquired in class in undertaking real life projects. While working on the project, Alvi remained vigilant and never failed to ask the team members questions on unfamiliar matter or idea. Consequently, Alvi was ready to share his knowledge by explaining to other members any new concepts and ideas. Due to His desire to learn and apply his IT skills, Alvi occasionally reported to work with his laptop that contained notes and other resources. On many occasions, Alvi talked about his desire to further his education in IT. I believe that if offered chance, Alvi has the potential to use his knowledge and skills to transform the society for the better. His commitment and willingness to apply his knowledge make him a suitable candidate for this program. I believe he will be more than a student and prove to be a major asset to the program. I therefore offer my highest

Long-Lasting Hostility Among Indians Towards British Rule Essay Example for Free

Long-Lasting Hostility Among Indians Towards British Rule Essay How far do Sources 10, 11 and 12 suggest that the Amritsar Massacre created widespread and long-lasting hostility among Indians towards British rule? Sources 10, 11 and 12 suggest that the Amritsar Massacre, the incident in which British troops under the order of General Dyer fired at a crowd of Indian protesters on the 13th April 1919, did create widespread and long-lasting hostility among Indians towards the British. Creating the British government to be portrayed as repressive and irresponsible. However, the alternative view presented by the sources is that Indians were not hostile towards the British, but they were in fact appreciative of their help and did not feel that they were repressive. The view of which the Amritsar Massacre did create widespread and long-lasting hostility amongst Indians towards British rule is presented in Source 11. ‘The Empire have become dishonest and unscrupulous, with no regard to the wishes of the Indian people.’ This article was written by Gandhi in 1920, which is shortly after the Amritsar Massacre, and the reliability of it is not that high as it is published in his own newspaper. Although it is still useful as Gandhi was a highly influential figure and supported by the masses so what he said would be key. Using strong words such as dishonest and unscrupulous, suggests strong feelings of hostility towards British rule. Also Gandhi feels as though the British are almost cheating the Indian people, meaning that the British are doing what they want without consulting the people they are ruling over. This source shows that the hostility felt by Indians was in fact widespread as it is written by Gandhi, a man who represented and was supported by the masses within India. This source does suggest that the Amritsar Massacre did create widespread and long-lasting hostility among Indians towards British rule. This theme of hostility towards British is also shown within Source 10, ‘Irresponsible government rights of human beings are denied to us.’ This extract is from a speech made by Motilal Nehru at the meeting of Congress a few days after the Massacre occurred. The usefulness of this is not as high as source 11 as we cannot be sure if the hostility was long-lasting as it is the same year as the Massacre itself. Although the reliability is still high Nehru was addressing the whole of Congress meaning he could not lie and also as it a few days after the Amritsar Massacre would increase the reliability as it will show the true feelings of Nehru. This extract shows that the Indians once again felt that the British were doing as they pleased without Indian voices being heard, which is also shown in source 11. However, as this source is written by Motilal Nehru, leader of the Indian National Congress, it is difficult to say from this source that hostility was in fact widespread as Nehru only represents the Indian National Congress which has the high caste community as a significant majority. Although this source does not show that the Amritsar Massacre created widespread and long-lasting hostility among Indians, however it does suggest that it was leading to this point. However, the alternative view shown within source 12 is that Indians were not hostile towards the British, but they were in fact appreciative of their help and did not feel that they were repressive. ‘Without British protection we would not be completely oppressed by their majority.’ This extract was from a Muslim shoe merchant, Hafiz Hussain, investigating Hindu-Muslim riots during the civil disobedience campaign in 1931. This extract is useful and also reliable as it is from a common Muslim who would have no reason to lie and would give an overview and insight into the situation. As Hafiz Hussain is talking about the pressure the Hindus put the Muslims under to close their shops as a mark of respect for an executed terrorist, he is glad that the British are protecting them as they would have no choice in closing their shops as the majority would oppress them into doing so. This shows that this hostility towards the British was not caused by the Amritsar Massacre but that of the execution of a terrorist. This suggests that the Amritsar Massacre was not the only reason widespread and long-lasting hostility among Indians towards British rule was created, it shows that other factors came into play. The view that the Amritsar Massacre created widespread and long-lasting hostility among Indians towards the British is shown mainly within source 11, as it is the most useful and reliable source, but also source 10 as well. Although source 12 does suggest that there were other factors leading towards the hostility among Indians towards the British its provenance is not as great as those of sources 10 and 11 combined. As source 10 is the most useful and reliable at showing the widespread and long-lasting hostility among Indians due to the Amritsar Massacre it outweigh the points given by source 12. Suggesting that that the Indian people did have widespread and long-lasting hostility towards British rule because of the Massacre.

Tragedy in Romeo and Juliet Analysis

Tragedy in Romeo and Juliet Analysis At the heart of the plays themes of feuding families, ill-timing, and misfortune lies the true agent that defines Romeo and Juliet as a tragedy; the impulsive and reckless decisions of the young lovers determine, in some way, the tragic outcomes that are mistakenly attributed to fate throughout, and Shakespeares exaggerated account serves as moral instruction of what can happen when choices of this magnitude are made unadvisedly. Although fate does play a part in the actions of the play, it merely serves as instruction to the protagonists. Fate is responsible for maintaining natural order and, as long as this is achieved, the destiny of the lovers lies in their own decisions. Fate serves as a guide, giving moral lessons to the protagonists and even warns them of future disaster. Despite the generosity of the stars, however, they continue to rebel and this, in turn, leads to their demise. A common device of Shakespearian tragedy is the tragic flaw, also known as hamartia, defined as an inherent defect or shortcoming in the hero of a tragedy, who is in other respects a superior being favored by fortune (hamartia, def.). Ultimately, the tragic flaws of both Romeo and Juliet are their beliefs that, without regard to the warnings and guidance of a higher order such as fate, they are above the laws of man; they make decisions without regard to consequence or accountability for the chaos they produce. It is evident in Romeo and Juliet that the impulsive actions of the protagonists are not attributed to inexperience in youth, but rather a reflection of their tragic flaws. In the fourth act of the play where her father asks where she has been, Juliet replies, Where I have learned me to repent the sin of disobedient oppositionà ¢Ã¢â€š ¬Ã‚ ¦ (4.2.17-18). Shakespeares audience, of course, knows that this statement is merely Juliets method of sustaining peace at home until she c an go through with her plan to fake her own death. Regarding the father-daughter patriarchal structure during this time, however, her words are a distinct reflection of what is expected of her in obeying the laws her father demands. This is, perhaps, Shakespeares way of ironically revealing his moral lesson to his audience through the very character who provides the example, revealing what Juliet should do. These words expose her knowledge that obedience provides order, and subsequently, the audience is less sympathetic to her because she does not listen to her own words, those of Friar Laurence, or the warnings of fate. Romeo also reveals his awareness of the Princes law and suggests its importance for social order. In the beginning of Act 3, when Mercutio and Tybalt are fighting, Romeo comes between them and says, The Prince expressly hath forbid this bandying in Verona streets (3.1.82-83). Romeo seems to abandon his recklessness here, but it doesnt last long; he kills Tybalt only a few lines later. Granted, he is revenging his friends death, but this action marks the beginning of the deadly chaos seen throughout the rest of the play. Although he doesnt agree that a tragic flaw leads to the lamentable ending of the play, Fredson Bowers, in his article Dramatic Structure and Criticism: Plot in Hamlet, does, however, believe that the climax in Romeos decision to fight Tybalt involves a personal choice that carries moral responsibility and is therefore morally determinate (210). As the reader can see, tragedy follows a course of increasingly destructive events, and following the scene which marks the point of no return for Romeo, in this case the murder of Tybalt, madness inevitably follows. A. C. Bradley describes this sequence of events in relation to chance by stating that, à ¢Ã¢â€š ¬Ã‚ ¦any large admission of chance into the tragic sequence would certainly weaken, and might destroy, the sense of the causal connection of character, deed, and catastrophe (Bradley 64). Character represents the tragic flaw; the deed is the climax that leads, then, to madness which is the catalyst for catastrophe. Romeos madness becomes more evident as the reader can see his actions become increasingly less reasonable, beginning with the climactic scene and only ending with his death. Romeos madness is displayed through both his irrational actions and the reactions of Friar Laurence and Romeo himself. After Romeo learns of his banishment from Verona, his response, in both la nguage and action, provokes Friar Laurence to proclaim, O, then I see that madmen have no ears (3.3.61). Here, he recognizes the madness, so quickly evident in Romeo, spawned from Romeos banishment following the death of Tybalt. Later in the play, Romeos madness intensifies to such an extent that he himself recognizes it when he says, The time and my intents are savage-wild, more fierce and more inexorable far than empty tigers or the roaring sea (5.3.37-39). Here, Romeos admission of his madness is Shakespeares way of explicitly informing the audience that Romeo has indeed lost his sensibilities. The madness seen in the previous lines leads directly to catastrophe, namely the death of Romeo. His insanity, before an internal conflict, is now outwardly admitted to Paris when he says, Live, and hereafter say a madmans mercy bid thee run away (5.3.66-67). These lines represent Romeos submission to his madness as he rushes to his intended suicide. Much like Romeos insanity, Juliet exper iences symptoms following the climactic scene of the play. This is recognized by Juliets mother when she states, Some grief shows much of love, but much grief shows still some want of wit (3.5.72-73). Although Lady Capulet believes she is seeing Juliets despair over Tybalts death, her visible display of sorrow is derived directly from her grief over Romeos banishment, and this grief is but the first sign of a creeping irrationality that will lead Juliet to her end. Her irrationality lapses into madness as Juliet begins to hallucinate before drinking Friar Lawrences potion, as can be seen when she says, O, look! Methinks I see my cousins ghost seeking out Romeo that did spit his body upon a rapiers point (4.4.57). Directly after this statement, she drinks the potion, an act that even Friar Lawrence deems desperate (4.1.69), exorcising, through her action, the madness that has acutely built up in her since Romeos banishment. Throughout Romeo and Juliet, fate is referenced in many different ways, yet all passages seem to be directed to the same idea of a higher power watching over the natural order (Kastan 16) of the characters, but the protagonists of the play use fate as a source in which to place blame so not to be held accountable for the decisions they make. Throughout, this higher power has been named the stars (1.4.107), fortune (1.2.57), heavens (4.4.121), fate (3.1.114) nature (3.2.80), and each time Romeo or Juliet makes a rash decision and faces the consequences of the same, they complain that fate is the cause. Fate serves as a help for the young couple, however, and this becomes evident in that, each time the play reaches a critical point important to the plays outcome, the protagonists are warned. This idea of warning from a supernatural or ghostly source is a common strategy in Shakespearian tragedies. Here, Romeo is first warned in a dream which Mercutio calls Queen Mab (1.4.53), right bef ore he is about to meet Juliet for the first time. The dream warns him not to go to the Capulet ball, and fate further guides his decision by planting uncertainty in his decision as a warning of what will happen if he does go. Romeo states, I fear too early, for my mind misgives some consequence yet hanging in the starsà ¢Ã¢â€š ¬Ã‚ ¦ (1.4.106), and although he is affected by this warning and aware of the consequences if he goes, only five lines later, he ignores the warning with On, lusty gentlemen (1.4.113). This is an active decision by Romeo to go to the ball, yet in the previous sentence, he says Direct my sail! (1.4.113). Thus, although Romeo receives help from fate through guidance, warnings of impending disaster, and the free will to avoid decisions, he repeatedly makes bad choices of which he is not willing to take responsibility, but rather, blames the very source that helps him. Another example of this warning comes when Romeo is leaving for Mantua, and this is the last t ime Juliet sees him. This time, both have a feeling of impending doom. Juliet says, O God, I have an ill-divining soul! Methinks I see thee, now thou art so low, as one dead in the bottom of a tomb (3.5.54-56), and Romeo responds with, And trust me, love, in my eye so do you. Dry sorrow drinks our blood. (3.5.58-59). Juliets lines are spoken just three lines after she asks Romeo if they will ever see each other again. Of course, they do not meet again, and these lines mark the next phase of chaos, death, and bad decisions which conclude the play. There are, however, two more references to dreams that correctly reveal encounters, tragic in nature, which could have been avoided. First, Juliet imagines going mad inside the Capulet tomb, blatantly declaring a warning from fate that is being played inside her own daydream. When she says, O, if I wake, shall I not be distraught, envisioned with all these hideous fears, à ¢Ã¢â€š ¬Ã‚ ¦ and, in this rage, with some great kinsmans bone as wi th a club dash out my desprate brains (4.4.49-53), her concerns are actually a proclamation of fates warning that this rash action will eventually lead to her demise, a warning which she promptly dismisses as she drinks the vial only a few lines later. The second of these references to dreams lies in Romeos statement, I dreamt my lady came and found me dead strange dream, that gives a dead man leave to think (5.1.6-7). Romeo does not recognize the implications of this dream, which serves as the voice of fate. Instead, his irrationality spins this message into a form that he is willing to accept, as is seen by the following lines, and breathed such life with kisses in my lips that I revived and was an emperor (5.1.8-9). Due to Romeos maddening obsession with his infatuation, he is unable to decipher the true message of this dream. His irrational actions have set him on a path that will lead to his death. A.C. Bradley believes that tragedy is generally based around a character of prominence and is a story of human actions producing exceptional calamity and ending in the death of such a man (Bradley 64). This element of tragedy, consisting of specific actions that lead to a catastrophe and result in the death of a prominent character, is a classic theme among Shakespearean tragedies. One of the most common aspects of this basis is the element of death, both foreshadowed and realized, as a conclusion to the deranged actions of the primary characters in Shakespeares works. This theme can be seen in many of his plays, such as Hamlet and Othello, but none more so than Romeo and Juliet, where the theme of death is constantly reiterated from the initial prologue to the conclusion of the play. For instance, when paralleling the young lovers courtship to the different stages of the play, one can see these recurrent statements explicitly stated, all of which indicate deaths impending arrival as the natural conclusion of the couples consistent irrational actions. The first of these decisions occurs before Romeo is to attend the Capulets ball. He begins to feel himself traveling down an unnatural path and says, my mind misgives some consequence yet hanging in the starsà ¢Ã¢â€š ¬Ã‚ ¦of a despised life, closed in my breast, by some vile forfeit of untimely death (1.5.106-111). Although Romeo, to some extent, feels fates warning and the consequences of his actions, he proceeds to Capulets ball, taking his first step toward his ultimately tragic end. Furthermore, after they meet, Juliet immediately decides he is married and says, à ¢Ã¢â€š ¬Ã‚ ¦my grave is like to be my wedding bed (1.9.131-132) before she even learns the name of her idol. This is only the first of many such examples of an irrational thought process that will continue throughout the rest of the story; examples of this unreasonable belief that death is their only alternative further displays their refusal to ac cept the situation and work toward a solution. Instead, death provides an easy solution. By limiting herself to only two options, Juliet consistently bases her decisions on this belief, despite all warnings that she is essentially running headlong to her own death. The next step in the progression of this affair, the marriage of the young lovers, is yet again marked by the presence of death. Upon arriving at Friar Lawrences cell for the proximate ceremony, Romeo declares that, love-devouring death do what he dare it is enough I may but call her mine (2.5.7-8). Once again, the presence of death is foreshadowed at a pinnacle point, and Romeo and Juliet make another aberrant decision. By explicitly challenging death, Romeo is seemingly aware that his mortality is imminent, but he still continues down this path. He does not consider that Juliets actions are mirroring his and leading her to the same conclusion. The couples impetuous drive toward rash decisions is unmistakable throughout the rest of the play. Although they are aware that the opportunity of their continued relationship will ultimately never be presented, the two protagonists pursue death from the beginning. These examples solidify the argument that Romeo and Juliet is a prime example of Shakespeares lesson that death as a natural consequence of the impetuous actions of those who disregard the admonitions of fate. Throughout the realm of Shakespeares tragedies, another theme persists. While the protagonists in Shakespearean tragedies make conscious choices determining their own paths, most commonly against the subtle and blatant warnings of fate, there is a constant element that renders the execution of these decisions compulsory; this idea is known as situational conflict. In his article Art and Artifice in Shakespeare, Elmer Edgar Stoll states, The core of tragedy is situation; and a situation is a character in contrast, and perhaps also in conflict, with other characters or with circumstances (Stoll 69). This idea that there must be a conflict to a tragedy is not a novel idea, but the idea that there must be a situation in conflict with character or circumstance suggests that an author would need to define this situation, either implicitly or explicitly, at some point prior to the climax of the story. Following this design of creating a situational conflict that will force the protagonists to make decisions that will lead them down either fates implied path of natural order or along a course of their own devising, a tragic plot must contain an action that forces this conflict. Shakespeare was not oblivious to this motif; in fact, the construction of his tragedies suggests his acceptance of this template as a method of depicting a tragic plot. In the bulk of Shakespeares tragedies, there is a common event that, apart from the climax and generally between the middle and end of the first act, explicitly defines this situation. The act typically causes conflict in the protagonists state of affairs, which sets the stage for the downward spiral of decisions that the characters make. While in most cases influenced by another character in the play, such as Iagos announcement of his plot to deceive Othello or Lady MacBeths persuasion of MacBeth to kill King Duncan, this triggering event causes the protagonists in Shakespeares tragedies, either immediately or inevitably, to mak e the initial decision that will decide their fate. Romeo and Juliet does not differ from this scheme; the triggering event and the situational conflict are both present within the same location stated previously. Specifically, this event is caused by the attempts of Benvolio and Mercutios to assuage Romeos concerns about attending the Capulets ball. While Romeo initially agrees to accompany them to the event, he soon shows no interest in the nights activities. He says that he will be a candle-holder and look on, and shortly thereafter begins to question his decision to attend the ball at all when he states, à ¢Ã¢â€š ¬Ã‚ ¦we mean well in going to this masque, but tis no wit to go (1.4.38, 1.4.46-47). Although he is persuaded by Benvolio and Mercutio, the final decision to attend is ultimately made by Romeo. This choice places Romeo in a situation where conflict is eminent; he walks into the house of the Capulets and woos a lady who he knows, by being present at this event, has ties to his enemy. Therefore, although Benvolio and Mercutio attempt to persuade Romeo to attend the ball and examine other beauties (1.1.221), his choice to do so is the triggering event. This is Romeos first chance to decide whether or not to enter into a situation of conflict and, as with many of Shakespeares tragic protagonists, Romeo makes the wrong choice. There is some debate about the effectiveness of the moral lessons in Shakespeares tragedies. In his article Shakespeare, Walter Raleigh believes, There is no moral lesson to be read, except accidentally, in any of Shakespeares tragedies (Raleigh 66). John Dryden, on the other hand, argues, in his article entitled The Grounds of Criticism in Tragedy, that tragedy is an imitation of one entire, great and probable action; not told, but represented; which by moving in us fear and pity, is conducive to the purging of those two passions in our minds (Dryden 24). The conscious decisions of the characters in Shakespearean tragedy are not only pertinent to the advancement of the tragic plot, but also morally determinate. Shakespeare reveals this idea through fates warnings, the dialogue of the characters, imagery, the advice of characters such as Friar Laurence, finally, in the epilogue, a common element in Shakespeares tragedies. The definition of a morally determinate action is significant in the argument of free will versus fate in Romeo and Juliet because it signifies that the character is aware of the issue and nevertheless makes a choice that is inherently fatal (210). This allows for an exchange of the audiences sympathy for the lovers with a feeling of contentment in knowing that, instead of a dismal view of fates inevitable defeat of innocent lovers, the protagonists have control of their lives and pursue tragedy through their own disobedience. The audience is able to enjoy the play because they too have free will to determine their own fates, yet they also come away with the lesson Shakespeare teaches about the moral responsibility of ones actions. Although the interjection of fate has been discussed previously, the moral reprehension announced by some of the characters in the play regarding Romeo and Juliets actions also serve as a measure by which to gauge the moral accountability of the couples ac tions. For instance, Friar Lawrence is appalled by Romeos exploits with Juliet at the Capulets ball, which is evident when he states, Is Rosaline, that thou didst love so dear, so soon forsaken? Young mens love then lies not truly in their hearts, but in their eyes (2.2.66-68). Essentially, Friar Lawrence is expressing his distaste in the immorality of his decision to wed another woman not a day after his lamentation for Rosaline. This decision is morally reprehensible because it exposes the fickleness of Romeos love and the significance of entering into a marriage without understanding the significance of such an act. This type of reaction is evident again when Friar Laurence castigates Romeo, this time for his effeminate tears and unreasonable fury (3.3.110). Here, Friar Laurence remarks, Hast thou slain Tybalt? Wilt thou slay thyself, and slay thy lady that in thy life lives by doing damned hate upon thyself? (3.3.135-137). Romeos decisions, in this case, are blameworthy because of the selfishness of his statements of suicide, as he does not consider Juliets welfare. He is further subject to blame when one contemplates Romeos previous actions and his failure to recognize the mercy that the Prince has shown him. His selfishness is directly related to the disjointed nature of Romeos decisions; rather than considering the implications of his decisions, he initiates a course of action based on his brash and reckless predilection. The epilogue in Romeo and Juliet repeats the events that unfold in the private counsel of Friar Lawrences cell, and while his account describes the rash actions of Romeo and Juliet, he openly accepts responsibility for his own part in the scandalous event. Friar Laurence is quickly pardoned for his misdeed. The outcome of the epilogue reveals the moral lesson; one must face responsibility for his or her actions, and it is better to accept the outcome than to run away. This is evident when Friar Lawrence pronounces, if aught in this mis carried by my fault, let my old life be sacrificed, some hour before his time, unto the rigour of severest law (5.3.266-268). He accepts complete responsibility for his part in the events that lead to the young lovers deaths and implies his foreknowledge that his actions could result in punishment, indicating that the Friar considered this before acting and juxtaposing this with the actions of Romeo and Juliet. By revealing to the audience both an avoidable situation and the reasons for the tragic ending, Shakespeare succeeds in providing a moral lesson that serves to purge the passion (Dryden 25). The implementation of a tragic flaw, madness, neglecting fates warnings, death, a triggering event, actions which are morally determinate, and the moral lesson provide a clear view of Shakespearean tragedy. The causal relationships between the elements of tragedy, combined with common literary features associated with plot, identifying the triggering event that presents the situational conflict which will lead to the climatic peak of the narrative, the resulting madness that builds in the principals, the ineluctable conclusion of death, and the consummate lesson learnt upon the end of the tale. Throughout this chronology, each step is traversed by a morally determinate adjudication based from, in this case, the main characters tragic flaws, and neglecting the karmic guidance offered by other characters as well as by their own admissions of feelings and dreams. Romeo and Juliet adhere to each of these elements, not on a scarce occasion or two, but continuously and doggedly throughout the course of the story, with each factor intertwining with another to form the basis for which the primary idea related to the main characters decisions may rest; Romeo and Juliets actions were undertaken too impetuously, and while fate did play a role in attempting to advise the young couple as to the natural order of their situation, they exercise their free will to interminably disregard these warnings and set themselves down the slippery slope that results in their undoing.