Theme of Sacrifice Leading to Transformation Illustrated...

Water is the primary wealth of human civilization, and the link to everything in the world. Throughout history, poets and other artists have used water to reveal the secrets to the world, with sweat and tears of Sailor, Africans and African-Americans who are unrecognized. It shows the connection to the dawn of civilization. They are the ones who are unrepresented. For African and African-Americans lake possibly associated with slavery; while for sailors it might be an opportunity to develop themselves. While â€Å"The Negro Speaks of Rivers,† connects the spirit and history of the African/African-American community, and the poem, â€Å"The Secret of the Sea,† expresses the strengths and potential of the hearts of sailors, and in both of poems they†¦show more content†¦Hughes starts with Euphrates River for a reason; this river dates back to 4 BC. â€Å"I bathed in the Euphrates when dawns were young,† (line 5), the way that reader explains â€Å"I bathe d in the Euphrates† means that his ancestry, Africans, have been there since the beginning of civilization. With the nearest river it states, â€Å"I built my hut near the Congo and it lulled me to sleep.† (lines 6), the interpretation of this quote highlight how African has grown as the community to built home for themselves, and made a settlement next to another river. In the first river, you can express it by the beginning step of this community, and how the next river is the stepping stone for the race. In the next river, â€Å"I looked upon the Nile and raised the pyramids above it.† (Lines 7), starting for this period, the African race were made to into slaves, and the creation of freedom started. Hughes did not what the readers to interpret the pyramids as one of the Seven Wonders of the World, but the difficulty of a peasant, who actually helped to create the pyramids. Finally, the Mississippi River is the last stop of the journey for the African race. â €Å"I heard the singing of the Mississippi when Abe Lincoln went down to New Orleans, and I’ve seen its muddy bosom turn all golden in the sunset.† (Lines 8-10), the trip down to the Mississippi was a dream for many African-American. One of the hugest steps for this community was when

The Effects Of Media And Stereotypes On Women - 1554 Words

Women Leaders and The Effects of Media and Stereotypes Confidence, integrity, purpose, empowerment, determination, and courage. These are some of the many words associated with leadership. Regardless of gender, these words apply to all leaders. It is no longer a question of what women leaders are, but rather why there are not women leaders. Today’s society focuses on fulfilling leadership positions with males, not because females do not have the same skills and knowledge as men, but because people associate men with leaders. There are various daily obstacles that women face in the attempt towards leadership roles including prejudice beliefs, resistance due to stereotypes, leadership styles, family life demands and underinvestment in social capital. We have found that through depictions in the media, women are not seen as effective leaders in the same sense as men. These media findings and various research techniques provide evidence for the lack of female presence in leadership positions. Media Review As part of our research, we Googled different images associated with women and leadership. When you Google women leaders, what do you see? Countless images of beautiful women appear. Women have always had to walk a fine line when it comes to their femininity in the workforce. If a woman is too â€Å"girly†, she is looked down upon. When a woman is too â€Å"masculine†, she is looked down upon. Google pictures of women news casters. Many news casters today are dressed in a sexy andShow MoreRelatedMedia Stereotypes’ Effect on Women in the Workplace Essay1553 Words   |  7 Pagesterrorist. These are just a few of the many stereotypes that are portrayed by the media. A stereotype is an oversimplified conception that you put on someone because of the way they look, what gender they are, or countless other categories that we put people in. Many people fail to realize how the media influences the way they think about people of a different nationality, race, religio n, or gender. This widespread belief in stereotypes has adversely affected women in the workplace. Ann Hopkins is aRead MoreEssay about Gender Based Stereotype in the Media1723 Words   |  7 PagesIntroduction The media plays an extremely important and arguably the most powerful role in shaping the perception individuals and members of the public holds towards themselves and their surroundings. This therefore makes it extremely difficult for one to maintain his/her unique self identity or perception of others without the influence of the media. People will define themselves and others based on the messages insinuated by the media. The problem hence emerges when the media insinuate the wrongRead MoreMedia s Influence On Society1293 Words   |  6 PagesMedia is a major contributor of how social groups are perceived in today’s society. Mediais around us every day almost all day, and it constantly sends messages about the world’s environment. There are many indicators shown pertaining to how media really affects society. One of the most prominent explanations of those questions is the way media influences stereotypes. There has been previous research linking media sources and b iased attitudes. This research paper explores articles supporting mediaRead MoreComparison of Turkeys in the Kitchen and You Just Walk on By Essays1640 Words   |  7 PagesIn the essays, â€Å"Turkeys in the Kitchen† by Dave Barry, and â€Å"Just Walk on By† by Brent Staples, they argue the theme of gender, and racial stereotypes that have been present in our world from the very beginning. Barry suggests through a sarcastic and humors tone that gender stereotypes have been present since before the start of time; he uses a highly conversational style to prove this, as well as narrates to give the reader a better understanding of exactly what he’s talking about. Staples, on theRead MoreEssay Negative Stereotypes of Women1164 Words   |  5 Pages1301 3 December 2011 The Negative Impact of Stereotypes Stereotype- a simplified and standardized conception or image invested with special meaning and held in common by members of a group (Dictionary). In simpler words, stereotypes are judgments based on actions of an individual or small group, thought to be true about the rest of that group. Stereotypes refer to individuals perceptions that typically do not correspond to reality. A stereotype is a picture in the head, not an accurate mirrorRead MoreStereotyping Is Inevitable, By James Baldwin1717 Words   |  7 Pagesis inevitable, we all do it ad we all experience it, but this does not mean it does not effect us. Stereotypes are all around us. They effect the way we think about ourselves and the way we think about the people around us. Stereotyping leads us to act certain ways and treat people certain ways. At times it can be beneficial to a certain group, but may bring many disadvantages to others. Many times stereotypes limit us and restricting our success in life. In â€Å"A Letter to My Nephew,† by James BaldwinRead MoreThe Impact Of Media On Women s Perceptions Of Image, Gender Roles, And Overall Self Worth Essay1352 Words   |  6 PagesMedia plays a huge role in people’s perceptions of image, gender roles, and overall self worth. The media is constantly reinforcing limiting stereotypes through television, advertisements, films, and more. These stereotypes are especially geared towards women, suggesting that they have to look and act in an overtly feminine manner in order to be accepted by society. Though there are stereotypical qualities of men illustrated in media as well, they are mostly suggesting that men are dominant andRead MoreWomen s Role Model On The Media930 Words   |  4 Pageswoman in the media as their role models. However, the woman in the media can either set the best examples, or the worst. Some of these women tend to advertise their entire lives over the media, and depending on the woman depends on the examples they are setting for women everywhere. Some of these role models on the media attempt to follow the woman stereotype, and they advertise themselves like they have accomplished it, and it is something that every woman can live by. Regular women see these famousRead MoreBlack Women Stereotypes763 Words   |  4 PagesThe stereotypical misrepresentations of African-American women and men in popular culture have influenced societal views of Blacks for centuries. The typical stereotypes about Black women range from the smiling, asexual and often obese Mammy to the promiscuous Jezebel who lures men with her sexual charms. However, the loud, smart mouthed, neck-rolling Black welfare mother is the popular image on reality television. The typical stereotype about Black men is the violent, misogynistic thug, and theRead MoreKilling Us Softly : Advertising s Image Of Women913 Words   |  4 PagesAdvertising’s Image of Women In the video, Killing Us Softly: Advertising’s Image of Women, the way women are portrayed in advertising is explored in great detail. The video exposes the gender stereotypes that are depicted in advertising on a regular basis. The effects of mass advertising are also explored particularly the effect of objectification of women on young girls. Young girls and women are affected by these constant and never-ending advertisements sexualizing women and marginalizing them

Pricing-to-Market and Its implications for PPP Free Essays

Introduction At present, with the increasing process of globalization, the world is integrated as a huge market. International trade is becoming increasingly important between countries. Therefore, exchange rate are now of great concern, people care about its ups and downs, and its implications, especially, to what extent will the exchange rate change influence the price of imported or exported goods. We will write a custom essay sample on Pricing-to-Market and Its implications for PPP or any similar topic only for you Order Now It is important to introduce the idea of PTM to understand this question. The article will first introduce the concept of pricing to market, and then introduce the implications of pricing to market for purchasing power parity. Finally, I will give the conclusion. Review of PTM PTM is considered to be a phenomenon, and this happens in international trade between countries. When the market is in division and there is no â€Å"hot money†, exporters could set different prices according to the places importing from them; they could choose either producer currency pricing or local currency pricing. When producer currency is used, devaluation reduces export price of local commodities, change in exchange rate has conducting effect to price, therefore guarantees the effectiveness of one price law and purchasing power parity; however when local currency pricing is chosen, devaluations of producer currency does not affect export price of commodities since they are priced in local currency. International trade cost is essential in pricing to market. Atkeson and A.Burstein(2008) stated that without international trade costs, even in the presence of variable markups that lead to incomplete pass-through, we have no pricing-to-market. Hence, imperfect competition with variable markups is necessary, but not sufficient, for pricing-to-market. It is widely believed that PTM does not apply to all categories of goods, that it , the extent of Pricing to market varies in different goods trade. Krugman.P(1987) stated that:† PTM is not universal, pricing to market seems to be limited to the transportation equipment and machinery industries† according to his research on US and Germany. In short, PTM refers to the action of a firm to set different price of the same product in different markets. Implications of PTM for PPP and empirical evince on that 1. PPP was first formally introduced by Gustav Cassell in 1920, it was aimed to provide a standard for currencies to slove the problem of compensations after the first world war. It indicates that when consumers purchase identical products in any market worldwide, the quantity of money should be the same when measured in one currency (Hallwood and MacDonald, 2000). At present time, PPP has two functions in economics: one, to judge a currency has whether been over or under estimated, second, as a tool of conversion, to convert GDP or GNP of one country from its own currency into another, therefore compare the economic strength between them. PPP has now been developed into two forms, the absolute ppp and relative ppp. Absolute ppp is based on the law of one price, the theory of absolute purchasing power parity states that the same basket of goods should sell for the same price everywhere (Alessandria,GKaboski,P,K, 2009), while relative ppp debates that exchange rates can be adjusted according to the inflation differentials existing in two markets (Pilbeam, 2006). Unquestionably, the implication of PTM for purchasing power parity is influential according to many researches and studies done. PTM weaken the influence of PPP. The theory of PPP indicates that significant change in exchange rate should result in the devaluation of national inflation and appreciation of national deflation. But the truth is that, either the ups or downs of exchange rate did not significantly affect the inflation. One reason why exchange rate is such insignificant is obvious: exchange rate does not affect volume of trade and total price, as what people expected. The reason lies here is PTM, producers exporting commodities to other countries did not change exporting prices as people expected. For instance, when Japanese producer exporting automobiles into American market, they will set their products’ dollar price on the basis of specific situations in American market. If yen was in an appreciation, they would, by and large, reduce the yen price but not raise th e dollar price to maintain its current business scale in American market. They would rather to eliminate the effects caused by change of exchange rate by adjustments within the enterprise itself. In such condition, exchange rate could not play the important role as it should have played. Betts,C and Devereux M,B (1998) argued that: â€Å"PTM plays a central role in exchange rate determination and in international macroeconomic fluctuations.† The pass-through from exchange rate changes to prices is strongly restricted by actions of PTM. They also stated that: â€Å"PTM generates departures from purchasing power parity; it tends to reduce the comovement in consumption across countries, while increasing the comovement of output.† (Betts,C and Devereux M,B ,1998). Generally, according to theory of one price and purchasing power parity, changes in exchange rate would pass through efficiently to prices, that prices will be adjusted until it fits the changes in exchange rate, and there will finally be equilibrium. But PTM, as personal actions of enterprises, to some extent, obstructs the channel of passing through. In the conditions of high PTM extent, devaluation of exchange rate has a very limited impaction on the prices determination of imported commoditie s, as (Betts,C and Devereux M,B ,1998) stressed:†the allocative effects of exchange rate changes are therefore wakened.† PTM also has important welfare implications for the transmission of monetary policy shocks. (Betts,C and Devereux M,B ,1998). In a situation under PPP, an unexpected expansion of monetary policy will result in increase in welfare of all organization, no matter home ones or foreign ones. Betts,C and Devereux M,B ,(1998) concluded that: â€Å"Monetary policy is a ‘beggar- thy-neighbor’ instrument in the presence of PTM†. 2. The phenomenon of pricing to market is everywhere in our daily life, and it significantly weaken the influence of law of one price and theory of purchasing power parity, tells people the truth that the same amount of currency could not always buy same basket of goods in different countries’ market. Since the same product could be priced differently in two countries, there will be space of arbitrage. I found exactly the same mode of DELL laptop both sold in U.S and China, on EBay, this dell allienware m15x is priced $1449.99, on the official site of dell china, it is priced 16999 RMB, according to the present exchange rate of RMB over US dollar: 6.573, 16999RMB is $2586, it is $1086 more that in US. Obviously, the transportation cost to bring one laptop from US to China is far more less than $1086. It can be implied that many people will try smuggling commodities like this laptop to earn profits. Conclusion As above discussion, PTM is important in the determination of exchange rate, higher the PTM is, less influence will the exchange rate change make on prices. It also makes significant welfare implications for the transmission of monetary policy shocks. PTM and its implication on PPP is still necessary to be further researched. Reference Krugman, P. (1986), â€Å"Pricing to Markets when exchange rate changes†, In: Arndt, S.W., Richardson,J.D. (Eds.), Real-Financial Linkages among Open Economies. MIT Press, Cambridge. Mark, N. C. (2001), International macroeconomics and finance: theory and econometric methods, Wiley-Blackwell. Sarno, L. Taylor, M.P. (2002), â€Å"new open-economy of macroeconomics†. In The economics of exchange rate, Cambridge University Press, Cambridge, Hallwood, P. and MacDonald, R. (2000) International Money and Finance, 3rd ed.Blackwell. Pilbeam, K . (2006) International Finance, 3rd ed. MacMillan. Atkeson,A Burstein,A (2008) â€Å"Pricing-to-market, Trade cost, and International Relative Price*†. University of California, Los Angeles and Federal Reserve Bank of Minneapolis Alessandria,GKaboski,P,K (2009) â€Å"Pricing-to-Market and the Failure of Absolute PPP† Betts,C and Devereux M,B (1998), â€Å"Exchange rate dynamics in a model of pricing-to-market† in Journal of International Economics 50 (2000) 215–244 alienware m15x items- get great deals on PC Laptop notebooks,alienware m17x items on eBay.com! (2011). Retrieved March 9, 2011 from http://shop.ebay.com/i.html?_nkw=alienware+m15x_frs=1_trksid=p3286.c0.m359 Dell (2011). Retrieved March 9, 2011 from http://www1.ap.dell.com/content/topics/topic.aspx/ap/topics/microsite/zh/odg_campaign?c=cncs=cndhs1l=zhs=dhs~ck=mn How to cite Pricing-to-Market and Its implications for PPP, Essay examples

Automobile Industry Essay Example For Students

Automobile Industry Essay Accessories are parts made for comfort, convenience, performance, safety, or customization, and are designed for add-on after the original assembly of the motor vehicle. Overview of Industry Market Conditions The U. S. Auto industry is a key component of the nations manufacturing base. In a typical year, it accounts tort about five percent to GAP and 16 percent of all durable goods shipments. The automotive industry, including the automakers and automotive parts sectors, accounted for about 674,000 U. S. Employees in 2010, a slight increase of percent from 664,200 in 2009. 2 and accounted for 5. Recent of all U. S. Manufacturing employees. While trying to work more collaboratively with suppliers, automakers put pressure on them by seeking price concessions and tasking their suppliers to take on more research, design and manufacturing responsibilities, and by absorbing the higher costs for their inputs. Suppliers that survived 2003 slashed costs by cutting capacity, laying off Workers , and restructuring financially. The Original Equipment Suppliers Association (GOES) reported that the automotive supply sector was operating at about AS percent capacity utilization. This is an improvement over the 45 Recent capacity utilization in early 2003, but far from the 80 percent historically needed for profitability. 3 As vehicle sales rebounded and suppliers started to realize some profit from their cost cutting efforts, the auto makers have started to pressure suppliers to cut prices. Industry analysts forecast severe pricing pressure and shrinking margins globally for suppliers in 2011. 4 Those suppliers that remained financially healthy during the downturn are likely to face increased pressure, while those suppliers that struggled may experience less pressure to cut prices. In 2010, the market for original equipment in the United States was 141. 5 billion, up 36. 5 percent from 2009, with the increase in vehicle production. Pressure was further exacerbated by global competition in the parts industry. As Japanese, German, and Korean-based vehicle manufacturers gained shares to the U. S. Market, they maintained relationships with their traditional supplier base. Many of those home market suppliers created or expanded transplant capacity in the United States to meet their traditional automakers production needs, At the same time those transplant suppliers aggressively sought business from the Detroit 3. In addition, suppliers in many Bureau of Labor Statistics data sing NAZIS 3361 3362, and 3363. Http://data. Ibis. Gob/PEG/outside? Survey=CE 3 Wards Automotive Reports, 1/25/10, p. 3. 4 Walsh, Dustin, Suppliers Back in Price Vise, Automotive News, 12/6/10, 2 International Trade Administration/Manufacturing and Services/Office of lower cost markets improved their quality and became capable of supplying even greater shares Of LIST. Demand from abroad. The Detroit 3 also advocated that u. S. -based suppliers move production to lower cost countries or risk losing future contracts. TO survive, many domestic parts manufacturers had to adapt to these numerous challenges. Appliers willingly took on the new responsibilities offered to them by automakers. Some transformed themselves into Tier One-Half systems integrators, that engineer and build complete modules (for example, an entire interior, 4-corner suspension sets, or an entire rolling chassis) and assumed both product design and development responsibilities, and down stream supply chain management functions previously undertaken by the automakers. Most u,S. Appliers are ill-situated to withstand major disruptions to their sales and the impact upon suppliers when an automaker sharply curtails operations can be severe, It takes many months ND significant resources to win business from vehicle assemblers or from the major *Tier l suppliers, A survey of suppliers taken in September 2010, revealed suppliers profit margins, before interest and taxes, would be around 6 percent in 2010. The increase was credited to s trong auto markets in China, Brazil, and India, and a partial recovery in North America, Europe, and Asia. Still there was skepticism about butcher the demand was going to be sustained, resulting in reluctance of suppliers to expand production and investment and hire back workers_5 The result has been Some temporary supply shortages, for example Scripps and some plastic resins, as vehicle production increased. Supply shortage is still a possibility as vehicle production increases. This situation to fulfill demand could drive further consolidation and acquisitions to improve suppliers competitive positions. The parts shortage is most acute among Tier 2 and Tier 3 suppliers that were forced to downsize and were unable or unwilling to secure financing for expansion. Dramatic growth in China, India, and other Asian economies, has also led to increased costs for critical raw materials. Demand in the developing world, primarily China, has been a major river behind increasing raw materials and energy commodity prices, Financial pressures from higher raw material prices have been affecting ties between suppliers and automakers, and between higher tier suppliers and their lower tier suppliers. Automakers are increasingly allowing material cost pass-thorough from suppliers, usually on a case-by-case basis, if the supplier can prove extraordinary pressures because to raw material costs and demonstrate efforts to keep costs down. Suppliers are concerned as the market rebounds that prices for raw materials will also increase. An example is the price of thermoplastic used in automotive manufacturing which increased 16 percent from January 201 C to December 2010. Steel makers are seeking to insulate themselves from fluctuating costs of their own raw materials. Iron ore prices went from 560 a ton in 2009 to $180 a ton in April 2010, 5 Automotive News, Surveys of Suppliers find Hefty Profits, Rosy Outlook, by Mike social, p. 20. Settling at $140 a ton in August. Steel makers seek more flexibility to set prices based on inputs or seek shorter term contracts with the auto industry, offering an adjustable-rate contract With relatively low prices or a fixed-rate contract with higher prices. North American auto makers tend to buy most of their steel from five companies: Recreational, United States Steel Corp.. OHO Several, AK Steel, and Togetherness GAG. Rare earth materials are also a growing concern of the automotive industry. For example, China controls the supply of many rare earth metals, Demand is increasing in the automotive industry in part because of the increase in hybrid and advanced technology vehicles that use rare earth materials in batteries and electronics. China has been controlling the mining, cutting back on exports, and increa sing export tees of many to these critical rare earth materials. This is encouraging competitors to seek alternatives to rare earth materials and will be an area to watch over the coming years. Many analysts and industry members expect the North American industry restructuring to continue during 2011 and into 2012, so the pressures driving industry consolidation will remain for some time, Industry analysts predict that at least 500 of the remaining 5,000 or so U. S. Automotive suppliers will fail in the next few years. 6 The continued pressure is forcing automotive suppliers to seek fork in alternative fields including military, space and wind energy. Greek Mythology and Religion EssayOnly two U. S. Suppliers were among the top 10 global OWE suppliers in 2009: Johnson Controls and Delphi. Johnson Controls global OWE sales were down 33 percent in 2009 to 512. 8 billion and Delphi was down 34. 9 percent from 2008, with $1 1. 8 billion in OWE sales. Most suppliers saw sales drop in 2009 with the global recession and decrease in vehicle production and sales. The global recovery trot the recession and increase in vehicle production and sales in 010 should result in an increase in global OWE sales for suppliers, especially large suppliers with close ties to auto makers. Growth for the majority of suppliers dependent mainly upon mature markets has stalled according to an analysis by PricewaterhouseCoopers. 12 The analysis observed that suppliers strategically entering emerging markets to improve both their cost position and diversify away from traditional customers have tended to generate above average operating income growth despite strong home market headwinds, 10 1 1 Merrill Lynch estimate via GOES Year in Review: Parts Market in North America, Dossiers analysis email, 2/23/11. 12 PWS Automotive Institutes Analyst Note, PriceWaterhouseCoopers, 8/1/07. Because of the 36 percent increase in vehicle production in the United States, OWE parts experienced a similar increase in sales volume in 2010. OWE sales by value are more affected when there is a shift from higher-content value Subs to lower-content value small passenger cars. OWE parts demand in 2009 was down to lows not seen since 1993 ($164 billion) in current dollars, or if the market demand is adjusted for inflation in constant dollars not seen since the asses. 3 Competition was also growing as foreign suppliers opened shop in North America. An estimated 800-1,000 suppliers from overseas built plants in North America in the past 20 years, creating a mass global localization of the supplier sector. 14 Some foreign suppliers, especially European companies, that expanded businesses in North America to supply their Detroit 3 customers, are also trying to move away from Detroit 3 business to Asian automakers. However, Japanese suppliers are not immune either, Suppliers in North America all face competition, historically high material costs, and demanding customers, although the foreign Appliers face fewer legacy costs and so tend to operate more efficiently than their U. S. Counterparts. Automakers, such as Ford, are attempting to design global platforms allowing the vehicle to be made in Asia, Europe and North America using the same platform. Global platforms reduce engineering costs, simplify manufacturing processes, and improve quality by reducing variability. Other efficiencies gained by the volume of the shared platform include working closer With suppliers from the design Of parts to the production Of the car Which will cut component cost and retail price. For example, the Ford Focus will use 80 percent common parts and AS percent of the same supply base. Large regional suppliers are a shrinking part of the market. Foreign-affiliated suppliers have made significant inroads into the LIST. Market through acquisitions, sales to transplant automakers, and sales to the Detroit 3. Moreover, transplant vehicle production in the United States grew significantly, from only 2. 6 million light vehicles in 1999 to just over 4 million units in 2007, and to 3. 4 million units in 2010. The Detroit 3 have continued to purchase more foreign-based supplier components. For example, Siemens, a German supplier, which had no share of audio systems in North America in 2003, had grown to 25 percent share by 2005. Also, Dense Corporation, now the largest supplier in the world, reported that its sales to the Detroit 3 were rising and that the North America market represented about 40 percent of its total sales, while Toyota accounted for another 40 percent of Tendons business in North America. 15 In August 2008, Chrysler named Dense Corporation as its first Supplier of Choice? This means Dense is the default supplier with whom other suppliers must compete to win contracts, and Dense ill not have to compete to keep current orders. 13 14 AN Outlook for Sales and Production and OWE Parts Demand, Dossiers analysis email, 1/23/09.. Size of the parts market in North America, Dossiers analysis email, 1/19/2007. IS Dense is a member Of the Toyota group with Toyota owning 22. 9 percent of Dense. Dense expected double-digit growth been 2007-2012 in North America. The effect of the foreign-based suppliers increased production within the North American market is also affecting the North American content o f vehicles. In fact, some Japanese vehicles, such as the Toyota Sienna, had a 90 percent LIE. S. And Canadian component content, while traditional American vehicles, such as the Chevrolet Suburban, Ford Mustang and Jeep Grand Cherokee have between 61-72 percent U. S. And Canadian content. Aftermarket The independent aftermarket experienced a sales boom after I ,160 dealerships closed in 2009. It was estimated that more than $7 billion in 2009 parts and services would be redirected to independent service outlets and auto parts stores and non-OWE auto parts distributors as dealers closed shop. 16 Independent garages employed an estimated 332,262 individuals It is estimated that 70 percent (1 76 million) of out- f-warranty vehicles are repaired at independent shops. The perception that a weak economy favors the aftermarket appears to be holding for the short- term. Cost-awareness amongst automobile consumers has led many to invest in servicing and repairs of their vehicles rather than purchasing a new one because of the effect of the weakened global economy. The aftermarket (parts and services) is estimated to be a nearly 5200 billion industry and has benefited as consumers defer new vehicle purchases because of uncertainty about their jobs, housing market, and availability Of disposable income. Still, even the aftermarket is not immune to the state of the economy. While the recession boosted the aftermarket financial viability in the shorthorn, not all long-term indicators are promising.

Power Relations in Greco

Several literatures available describe the position men and women occupied in the Greco-Roman mythology, with the most interesting consideration being on the position of the women in the Greek and Roman societies.Advertising We will write a custom essay sample on Power Relations in Greco-Roman Myth specifically for you for only $16.05 $11/page Learn More In these societal settings, women were no better than slaves who often had no power, thus they had to be submissive to their masters. There was much discrimination against women in these societies, with women being subjected to some restricted form of life. They were denied permission to argue publicly to over any issue and they had to be submissive to the men’s directives. Men only turn to obtain support from women when they were faced with certain difficulties. Frequent suppression of mortal women by mortal men is depicted in the Greek and Roman mythologies. Women’s uprising against socie tal expectation is the most significant aspect of power structure to be considered in this paper. Women attempt to use their power of love to outdo the men’s authority. However, such powers do not last long, and after some time, men assume the authority. Thesis Statement In The Epic of Gilgamesh, a promiscuous woman was used to illuminate on the position given to the women in the society. In this context, women in the society are depicted as tools that become useful to men only when the men are faced with difficult situations. Through their sexual attraction, men use women to lure strong male opponents who are threats in the world of the living. In providing this service, the women are not to exercise their individual powers. They have to go by the directives of the males. After defeating such key opponents, their power and role seem to have been brought to an end (Assyrian International News Agency, n.d). Women’s position in society as seen in the Greco-Roman mytholog y In the Greco-Roman mythology, mortal women are seen to be powerless in the society, as compared to their immortal counterparts. The latter are portrayed to have some powers, and men seek their advice and intervention in times of difficulties. In the world, women only have the power of love to win the hearts of men. In The Epic of Gilgamesh, the tale unfolds with the people’s lamentation of the deeds of Gilgamesh, the fifth king of Uruk after the flood and the son of Ninsun, a goddess. They wonder if these are the right deeds required of the shepherd of the city (The Epic of Gilgamesh, n.d, p.3). Gilgamesh had other powers and new all that was taking place everywhere in the country. The people lament to the gods that Gilgamesh is taking away sons daughters of men and no one is strong enough to stand before him.Advertising Looking for essay on literature languages? Let's see if we can help you! Get your first paper with 15% OFF Learn More They plead that gods c reate another strong man that can match his strength and might, so that peace could be restored in the lad of Uruk. The gods understand their plea and Aruru, the goddess of creation, creates another man Enkidu. However, Enkidu takes to the wilderness, lives, and is associated with wild beasts. It is at this point that a trapper encounters Enkidu in the wilderness. He (Enkidu) loosens all the traps laid by the trapper; he fills the pits drug by the trapper and frees the wild animals caught in the trap. To this state, there are problems that need a solution. Firstly, Enkidu was in the wilderness yet he was to use his might to counteract that of Gilgamesh. It is necessary that he be lured to come to the land of cultivation. Secondly, Enkidu is strong and mighty and the trapper cannot face him. When he reports to his father about the strong man in the wilderness, the father suggests that he visits Gilgamesh to seek information on the source of Enkidu’s powers. The father also sug gests that a promiscuous woman be brought from the Temple of love to overpower the man from the wilderness through her love (The Epic of Gilgamesh, n.d, p.5). The trapper follows all the directives and succeeds in managing the wild man. The woman goes ahead to convince Enkidu to live the wilderness and come to the land of cultivation, where he would latter meet Gilgamesh and become his servant and co-warrior. The position of women in the Greek and Roman mythologies is revealed in how the harlot was used to tame Enkidu and make the wild beasts run away from him. The women have to be submissive to the directives of the men. ‘There he is. Now, woman, make your breasts bare, have no shame, do not delay, but welcome his love. Let him see you naked; let him possess your body. When he comes near uncover yourself and lie with him’ (The Epic of Gilgamesh, n.d, p.5). These were the directives of the trapper to the promiscuous woman as Enkidu approached the drinking hole with the other wild animals. There is no objection given by the woman in relation to the statements. She is seen to be obedient to all the directives and makes love with Enkidu. The women are seen as tools to obtain the solution to problems that face men. Having obtained the solution, the role of the woman seems to diminish and she goes underground. This is evident when the harlot manages to help the trapper in the hands of Enkidu. After succeeding in taming Enkidu and making the wild beasts reject him, the trapper appears to have no more business with the harlot. Similarly, after introducing Enkidu to the palace where Gilgamesh stays, the role of the harlot seems to diminish and the tale takes a different direction. The fate of the daughters of men in the in the ancient society was also determined by their fathers. The father would arrange for the marriage of her daughter in some manner accepted by the laws of the society. This was at times ignored, and a father would force her daughter to marry a man of his choice and the daughter did not have to compromise.Advertising We will write a custom essay sample on Power Relations in Greco-Roman Myth specifically for you for only $16.05 $11/page Learn More This is seen in the Hymn to Demeter where a father arranges for her daughter to be abducted. Zeus, the ruler of the upper world, arranges for the marriage of Persephone, her daughter, to Hades, the king of the underworld (Anonymous, 2002, p.33). Contrary to the people’s expectations that a man arranges for the formal marriage of his daughter, Zeus takes part in the arrangements to abduct Persephone when she is in the playgrounds, away from Demeter, her mother (Anonymous, 2002, p.33). Some versions of the myth even claim that the father also took part in the abduction. The daughter cries for help and seeks support from her father, who has distanced himself from the scenario and is thus not available for the support. Zeus planning for the informal marriage of her daughter without the knowledge of his wife brings the picture of what men think of the women in these societies. Another legend that depicts the position of the women in the ancient Greek and Roman societies is that of King Oedipus of Thebes as illustrated by Sigmund Freud. Having killed his father who was the Theban king unknowingly, and having solved a riddle, the Thebans makes him their king. As reward, he is given Jocarta, the former king’s wife, and who is his biological mother, to be his wife (Freud, n.d, p.70). Again, women are portrayed here as powerless individuals and the men can dictate the different aspects of their lives. Their sexual charm can be used to reward other men who have been of significance to the society. Conclusion The struggle by women to struggle to obtain power in the society faces such problems. It is the belief of the men that the women have to obey the orders provided by the men. There are beliefs that even if women we re to be given the power to exercise their authority over men, they would not have the ability to do so. The power to rule would naturally be relinquished to the men. The quest of the women to seek and obtain power in the society is also impeded by a belief in some of the women. Some of the women are depicted to have surrendered the authority to the men and are not attempting to make their individual discretions. The promiscuous woman who follows the directives by the trapper shows the proportion of women who do not have their fundamental principles, or if they do have, then the principles are inferior to the men’s principles. References Anonymous. (2002). The Homeric Hymn to Demeter. (Attached material). Assyrian International News Agency. (N.d). The Epic of Gilgamesh. (Attached material).Advertising Looking for essay on literature languages? Let's see if we can help you! Get your first paper with 15% OFF Learn More Freud, S. (N.d). The Oedipus Complex. (Attached material). This essay on Power Relations in Greco-Roman Myth was written and submitted by user Damarion K. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Sonny’s Blues Essay Example

Sonny’s Blues Essay Example Sonny’s Blues Paper Sonny’s Blues Paper James Baldwin’s â€Å"Sonny’s Blues† describe the middle of the 20th century. The author refers to the period prior to the Civil Rights Movement – in particular, to the dark days of segregation and racial discrimination. I think the author chose those times because he grew in Harlem and wanted to make people aware of that life. Sonny, as well as the narrator, grew up in poor neighborhood of Harlem. Sonny was the son of working class father whose optimism was put down by the death of his brother at the hands of the rural Southern whites. The story shows ensuing struggle of the family in the racist Northern community. The narrator is the teacher of Algebra and Sonny is a child disappointed in life and, therefore, addicted to drug use. The narrator suspects that his students â€Å"are popping off needles every time they went to the head and maybe it did more for them than algebra couldâ€Å". Apparently, the author refers to drug abuse as the way to escape from the burden of reality, from racial discrimination and oppression. The story is very dramatic and we see that characters are changing with story’s progression. Character changes are subtle because the plot features a character’s battle with heroin addiction. It is necessary to outline that this story teaches readers to understand people’s bad experiences and suffering. Nevertheless, the story is not simply – it depicts complex inner world of a boy who struggle with drug addiction. Music remains the only source to express pain. â€Å"Sonny’s Blues† seems to be a tragedy about human suffering which is transformed in communal art and blues music. For Sonny, blues music is catalyst for changes. Music helps the narrator to understand himself and complex relations with Sonny. Baldwin raises the theme of brotherhood and claims that the story implies that we are â€Å"our brother’s keepers†. Baldwin stresses that brotherly support is more than control and coercion. Summing up, the story is about the struggle of darkness and light, of good and evil in humans. References Baldwin, James.(2002). Sonny’s Blues. Oxford: Oxford University Press.

History and Implications including Functionality Essay

History and Implications including Functionality - Essay Example Pascal, whose name was subsequently bequeathed to it though Chinese mathematician Yangsui generated it almost 500 years earlier than that. In China it became known as Yangsui's triangle while Persian astronomer-poet Omar Khayyam also studied it in some details.(Mathworld, Pascal's Triangle, 2006) Indian mathematicians like Pingalacharya also knew of it even earlier than the Chinese and all these shall be discussed subsequently together with some of this number triangle's unique properties. Though not much is known about how Pascal exactly came upon this number triangle it is obvious that since he was well-known as a mathematician, philosopher and religious figure in the France of that time he made it famous. This is one of his lesser-known achievements. He is much better known for his discovery of the constant pressure within a static fluid (Pascal's Principle). (Scienceworld, 2006) The first known description of a binary numeral system, that ultimately generates the triangle, is to be found in the works of Pingalacharya, the famous circa 5th century B.C. Indian scholar on prosody. He is supposed to be the younger brother of the more famous Sanskrit Grammarian Panini, whose grammar is still considered to provide the basic guidelines for that language. Actually, Pingala was exploring the listing of Vedic meters in short and long syllables when he came upon the system of binary numerals. His discussions of the combinations possible for the meters describes the binomial theorem. His works were later taken up by the 10th century Indian mathematician Halayudha whose commentary presents a form of the Pascal's triangle. It is described as the 'Meru-prastaara', as the rudimentary form of the Pascal's triangle was known then in Sanskrit. Pingala was also the first person to make mention of the Fibonacci Numbers, as they are known now. The paper shall touch upon the Fibo nacci numbers later on. In Sanskrit, as Pingala would have it, these numbers were known as 'maatraameru'. (Wikipedia, Pingala, 2006) It is noted here that Indian astronomers and mathematicians were quite advanced in those days and quite a few important concepts such as that of zero, attributed to

Effects of Upholding the Traditions Research Paper

Effects of Upholding the Traditions - Research Paper Example The research paper "Effects of Upholding the Traditions" aims to examine the effects, both positive and negative, of traditions in the society. A tradition is a belief mostly manifested through behaviors. Such behaviors are portrayed by members of a group or even a society. These behaviors can be traced from a certain origin and hence given a meaning. This implies that the behaviors practiced are significant to that particular group or society and, therefore, can be explained. This study will analyze the concept of tradition as depicted in the article â€Å"The lottery†. It will specifically look at the effects of traditions in society. It will examine both the positive and negative aspects of traditions. Some of the positive effects are: fostering socialization, enhancing unity, nurturing responsibilities, fostering harmony, passing on of traditional values and enhancing virtues in the society. Some of the negative effects include; acting blindly without questioning, can lead to conflict between the old generation and the new generations, can lead to evils and barbaric actions. The society should identify the positive traditions that lead to positive effects and uphold them. On the other hand, harmful traditions that lead to negative effects should be done away with. Traditions can enhance unity in the society. From the lottery article, this unity is seen when there is concern shown for those who had not arrived for the event; others were late while others did not show up for one reason, or another.

Is justice for all possible in America Research Paper

Is justice for all possible in America - Research Paper Example This research will begin with the statement that for all the legal bodies of the world providing fair and equal justice to all is an ethical and mandatory responsibility; the same holds true for United States of America (USA) as well. The USA follows a federal set up in governance and federalism and dual sovereignty have always remained two mutually conflicting aspects for the United States of America. Though in course of time most of the federal-state conflict attained an agreement on both part, perfection remained a mirage. Within a federal-state set up the state witnessed a declining supremacy, yet the criminal law remained a domain where the state sustained to enjoy the final say. However, Supreme Court kept the states under strict vigilance and often corrected their action in case it deemed necessary. Questions however pierced through the surface that what does fairness actually stands for and what is the true standard for the same. As usual, these couple of questions have also given birth to another; who would be the determining body for fairness. The first amendment and the fourteenth amendment to the USA constitution determine the concept of fairness of justice for the federal and the state government respectively. Historically the USA has remained a multi-ethnic country; from the Red Indians to the Afro-Americans, USA history is all about friction and conflict among people heralding from the different ethnic background. At this background providing justice for all becomes necessary but upholding equality among USA nationals is challenging as well.

Tesco Credit Risk And Analysis Report

Tesco Credit Risk And Analysis Report As members of Credit Analysis division, our line manager has asked us to prepare a comprehensive credit analysis report for Tesco Plc, as it comes out with a new long-term bond issue, to fund its acquisition of Hilton Foods. This credit risk report focuses among other things, on the business background and strategy of Tesco and Hilton Food, analysis of its annual reports, company websites and other sources, a discussion of the techniques used in the analysis, justification of techniques/ major assumptions used in our analysis and rationale behind our teams recommendation on the credit rating of the bond issue. 2. Tesco Business Description and Strategy: Tesco Plc was founded by Jack Cohen in 1919. It employs about 470,000 staff globally. It is the largest British  retailer  by both global sales and domestic market share, with profits exceeding  £3  billion. It is currently the third largest global retailer based on revenue, behind   Walmart and Frances  Carrefour, but second largest based on profit, ahead of Carrefour.(Ryan 2004). Originally specializing in food and drink, it has   diversified into areas such as  clothing,  consumer electronics, financial services, telecoms,  home,  health  and  car insurance,  dental plans, retailing and renting DVDs,  CDs,  music downloads,  Internet services  and  software. Tescos operations are divided into UK and International operations. In the UK, Tesco stores are differentiated by size and the range of products sold. (wikipedia.org). Tesco also retails through its online shopping channels, tesco.com and Tesco Direct. Tesco has international operations in the following countries- China, Croatia, Czech Republic, France, Hungary, Republic of Ireland, Indonesia, Japan, Malaysia, Poland, Slovakia, South Korea, Thailand, Turkey, United States (Annual Report 2009 hereby referred to as -AR2009). Business strategy: Tesco follows the concept of The Tesco Way. It is aimed at improving its competitive position in the market by becoming more customer focused and concentrated on differentiating itself from other retailers through the services it provides. Tesco has developed principles like Better for Customers, Simpler for Staff and Cheaper for Operations.(Tesco website) Its present operations are based on its strategy laid down in 1997 which focuses on these 5 key objectives: To be a successful international retailer To grow the core UK business To be as strong in non-food as in food To develop retailing services-such as Tesco Personal Finance, Telecom and Tesco.com; and To put communities at the heart of what we do. (AR 2009) It is the pursuit of this five-part strategy that has allowed the business to diversify into new emerging markets. Tesco as a business operates a Steering Wheel a balanced scorecard process whereby goals are set for different areas of the business and overall progress is assessed on a quarterly basis in all countries, to help manage performance and deliver business strategy. The Steering Wheels key areas of focus are: financial, customer, operations, and employee. Every store gets a monthly steering wheel update, a summary of its metrics within each of the four arcs, so that all employees in Tescos multiple regions and formats get feedback on their performance. The steering wheel has helped the company stay focused on its strategy even as it experienced rapid growth over the past two decades (AR2009). Please note- For Business Description and Business Strategy og Hilton Food please see Appendix A. 3. Factors affecting credit rating of Tesco: For the purpose of this credit analysis report I would be analyzing three factors influencing the credit rating of Tesco: They are namely: 1) Business Risk 2) Corporate Governance Risk 3) Financial Risk Definitions Table of Factors affecting credit rating of Tesco Business Risk According to wisegeek.com, A business risk is a circumstance or factor that may have a negative impact on the operation or profitability of a given company. Sometimes referred to as company risk, a business risk can be the result of internal conditions, as well as some external factors that may be evident in the wider business community. When it comes to outside factors that can create an element of business risk, one of the most predominant risks is that of a change in demand for the goods and services produced by the company. If the change is a positive one, and the demand for the offerings of the company increase, the amount of risk is decreased a great deal. Internal factors may also result in the development of significant business risk for the investor. Corporate Governance Risk According to SearchFinancialSecurity.com Corporate governance is a term that refers broadly to the rules, processes, or laws by which businesses are operated, regulated, and controlled. The term can refer to internal factors defined by the officers, stockholders or constitution of a corporation, as well as to external forces such as consumer groups, clients, and government regulations. A well-defined and enforced corporate governance provides a structure that, at least in theory, works for the benefit of everyone concerned by ensuring that the enterprise adheres to accepted ethical standards and best practices as well as to formal laws. To that end, organizations have been formed at the regional, national, and global levels. Risk management factors are employed to manage Corporate Governance Risk. Financial Risk According to Wikipedia.org, The risk that a company or project will not have adequate cash flow to meet financial obligations; thus causing the business to file for bankruptcy. Financial risk is the additional risk a shareholder bears when a company uses debt in addition to equity financing. Companies that issue more debt instruments would have higher financial risk than companies financed mostly or entirely by equity. Bilateral barter can depend upon a mutual coincidence of wants. Before any transaction can be undertaken, each party must be able to supply something the other party demands. To overcome this mutual coincidence problem, some communities had developed a system of intermediaries who can warehouse and trade goods. However, intermediaries often suffered from financial risk. 4. Discussion of Techniques and Methods Employed for Credit Rating 4.1 Analysis of Tescos Business Risk SWOT ANALYSIS OF TESCO PLC(For Definition and Explanation of SWOT Analysis please refer Appendix E) Swot Analysis of Tesco Strengths Increasing market share Insurance Tesco online Brand value UK market leadership reinforced Opportunities Non-food retail Health and beauty Further international growth (Source: Datamonitor) (1) Strengths (a) Sales Growth With the recent Global Financial Crisis (hereby referred to as GFC) retail sales have fallen, but Tesco does not seem to be affected as its sales revenue grew by 10.92% in 2008 and 11.86% in 2009. (b) Market share Tesco still holds the largest share of the UK retail market. It maintains this by constantly diversifying into new sectors and consolidating its existing position as a market leader. (2) Weaknesses Tesco Finance profit levels were impacted through bad debt, credit card arrears and household insurance claims. Tescos position as a price leader in UK markets can lead to reduced profit margins in order to retain the key price points on must have commercial items. Grocer outlets are not set up to operate as specialist retailers in specific areas of product which can be capitalised on by other smaller bespoke retailers. Although international business is growing and it is expected to contribute greater amounts to Tescos profit over the next few years. The company is still highly dependent on the UK market. (3) Opportunities The development of Tesco Direct through online and catalogue shopping will grow the use of technology, providing the launch pad for larger non food based products with moderate to high margin returns and less focus on sales and margin per foot return to space. Further international growth. (4) Threats Increasing foreign exchange exposure with international growth. Rising raw material costs from both food and non food items will impact profit margins overall. Continuous price wars between other retailers e.g ASDA, Sainsbury and WM Morrisons. (Source:businessteacher.org.uk) P.T.O (Please turn over) PESTLE ANALYSIS OF TESCO PLC TABLE( for explanation of PESTLE, please see Appendix F) P E S T L E A N A L Y S I S O F T E S C O P L C Political Tescos organic growth internationally into countries in Europe, Asia and America means it is influenced by the political conditions of these countries. Tesco is subject to a wide variety of regulations in the different countries in which it operates because of the diverse nature of its business. Tesco may be impacted by regulatory changes in key areas such as planning laws, trading hours, and tax rules as well as by scrutiny by the competition authorities. Tesco is influenced in the UK by employment legislations such as the minimum wage requirement Economical Economic factors and the state of the economy affects Tesco, because these influence the business environment of operation, business expectation of investors and the consumption level of Tescos customers which all translate into the levels of demand, supply, and pricing of Tescos goods and services. The economic factors have been seen to have caused the decrease in profit growth rates being experienced by Tesco. Tesco has responded to these issues by ensuring that its product variation strategy is upheld in all their stores. i.e having the same product with varying quality and price for the different target markets in the same store. Socio-Cultural Factors Tesco considers the diversity of its customers in terms of culture and tries to meet their varied expectation by having most food and non food items that are required. This strategy is obvious with aisle for world foods, clothes etc. Benefits from cultural diversity and globalization are also evident in staffing of their stores. Technological Technology as a major driver of efficient resource utilization which has allowed Tesco staff to be more efficient at their jobs with the use of a wide variety of scanners for their sales at their tills and for stock/inventory management. A new invention are self service machines where customers can scan and pay for their shopping, this innovation has also lead to a reduction in staff cost. Legal In the UK, the Financial Services Authority (FSA) which is the regulator of all providers of financial services requires Tesco Personal Finance to be able to meet its sterling obligations without recourse to the wholesale markets for a period of at least five business days. To meet regulatory requirements a diversified portfolio of high quality liquid and marketable assets is maintained. Cash flow commitments and marketable asset holdings are measured and managed on a daily basis Environmental Tesco has been able to manage its environmental impact by adopting a number strategies, some of which are; an energy saving initiative lead, to opening of environmental store in a quest for zero-carbon, carbon labelling of products, green club card initiative which encourages customers to recycle. 4.2 Analysis of Corporate Governance Risk An analysis of the Directors report on corporate governance clearly defines the Directors roles and goals for Tesco Plc, as its main aim is to generate shareholder value and safeguard their long-term interests. Tesco, follows the Combined Code on Corporate Governance, especially Section 1, as defined by the Financial Services Authority (FSA), on compliance of the Code throughout the year. The Executive Board , complied with the Code, with the exception of the provision that at least half the Board, excluding the Chairman, should comprise Non-Executive Directors determined by the Board to be independent. This was as a result of the resignation of Carolyn McCall and E. Mervyn Davies as Non-executive Directors due to conflicts of interest. Tesco appointed Laurie McIlwee as the new Group Finance Director, and Jacqueline Tammenoms Bakker and Patrick Cescau and Ken Hanna as Non-executive Directors, thus becoming fully compliant again with the code. Laurie McIlwee has been with Tesco for ni ne years and has a very strong track record in both finance and operations. In his most recent role as Distribution Director Laurie was responsible for transforming the whole network a tremendous achievement, which reflects careful management succession planning at Tesco. The structure of the Board and the integrity of the individual Directors ensure that no single individual or group dominates the decision making process. All Directors have to submit themselves for re-election at least every three years if they wish to continue serving and are considered by the Board to be eligible. The Non-executive Directors bring a wide range of skills and experience, as well as independent judgement on strategy, risk and performance to the Company. The Board has set out a clear Schedule of Matters Reserved for Board Decision in order to ensure its overall control of the Groups affairs. These include the approval of: à ¢Ã¢â€š ¬Ã‚ ¢ the Companys strategic and operating plans; à ¢Ã¢â€š ¬Ã‚ ¢ annual and interim financial statements; à ¢Ã¢â€š ¬Ã‚ ¢ major acquisitions and disposals; à ¢Ã¢â€š ¬Ã‚ ¢ authority levels for expenditure; à ¢Ã¢â€š ¬Ã‚ ¢ treasury policies; à ¢Ã¢â€š ¬Ã‚ ¢ risk management and internal control systems; à ¢Ã¢â€š ¬Ã‚ ¢ group governance policies; and à ¢Ã¢â€š ¬Ã‚ ¢ succession planning for senior executives P.T.O Additional Corporate Governance Role- Table Audit, Remuneration and Nominations Committees The Board governs through a number of statutory Board Committees the Audit, Remuneration and Nominations Committees to which certain responsibilities and duties are delegated. These Committees are properly authorised under the constitution of the Company to take decisions and act on behalf of the Board within the parameters laid down by the Board. The Board is kept fully informed of the work of these Committees and any issues requiring resolution are referred to the full Board as appropriate. A summary of the operations of these Committees is set out. The performance of the Board is a fundamental component of the Groups success. The Board regularly reviews its own performance. Relations with stakeholders Tesco maintains a close relationship with all its stakeholders including customers, staff, suppliers, investors, non-governmental organisations and others, to ensure that its long-term strategy is sustainable. These include corporate social responsibility targets towards- Environment Community Suppliers and Ethical trading Customers Choice Health People and Key Performance Indicators (KPIs)of the Steering Wheel. Internal controls The Board is responsible for the Companys system of internal control and for reviewing the effectiveness of such a system. Tesco has a Group-wide process for clearly establishing the risks and responsibilities assigned to each level of management and the controls which are required to be operated and monitored. Both the internal and external audit, PricewaterhouseCoopers LLP, contribute towards maintaining effective internal financial control systems. Whistleblowing Policy The Group operates a whistleblowing policy and has a confidential Protector Line service accessible to concerned employees where they can report, anonymously if necessary, on issues of malpractice within the business. These issues include unethical behaviour such as fraud, dishonesty and any practices that endanger their staff, customers or the environment. Complaints made are treated as confidential and are investigated. Where appropriate, matters will be escalated to the Director of Group Security for further action. Management At Tesco, trading is tracked on a daily and weekly basis, financial performance is reviewed weekly and monthly, and the Steering Wheel is reviewed quarterly. Steering Wheels are operated in business units across the Group, and reports are prepared of performance against target KPI s on a quarterly basis enabling management to measure performance. Shareholder engagement Tesco is committed to maintaining a good dialogue with shareholders through proactively organising meetings and presentations as well as responding to a wide range of enquiries. During the year, the Chairman, Chief Executive and Finance Director meet with most of the leading shareholders to discuss issues relating to the board, strategy and governance matters, as well as new developments within the business. In addition to this the Company Secretarys office, Investor Relations and other teams within the business engage with shareholders on a regular basis, and on a wide range of issues. Directors remuneration Disclosure Tesco is already a large and profitable company. A 10% increase in Company value equates to some  £3bn in additional shareholder value, equivalent to a FTSE 50 organisation. Continuing to grow and expand profitability from such a high base is challenging but forms the core of Tescos strategy, and its supporting processes including executive remuneration. The result for 2008/9 included improvement on most of the underlying performance measures relating to productivity and growth. More than two-thirds of total remuneration (excluding pension) is linked to performance. Long-term performance is rewarded through delivery of shares and short term performance through a combination of cash and compulsory deferred shares. The Remuneration Committee believes that the majority of total remuneration should be performance-related and delivered largely in shares to closely align the interests of shareholders and Executive Directors. When setting the remuneration of Executive Directors, the Commi ttee considers the Groups performance on environmental, social and governance (ESG) matters. Specific ESG performance targets are applied to certain elements of the remuneration structure, in order to reinforce positive and responsible behaviour by senior management. (Source for all Corp Governance notes: AR2009) Tesco Board of Directors- Table Name Job Title Board Name Job Title Sir Terry Leahy CEO Executive Board Jacqueline Tammenoms Bakker Non-Executive Director Richard Brasher Commercial and Trading Director Executive Board Rodney Chase Deputy Chairman and Senior Non-Executive Philip Clarke International and IT Director Executive Board Charles Allen CBE Non-Executive Director Andrew Higginson Finance and Strategy Director Executive Board E. Mervyn Davies Non-Executive Director David Potts Retail and Logistics Director Executive Board Dr. Harold Einsmann Non-Executive Director Laurie McIlwee Group Finance Director Executive Board Ken Hydon Non-Executive Director Lucy Neville-Rolfe Corporate Legal Affairs Director Executive Board Graham Pimlott Non-Executive Director Tim Mason Marketing, Ecommerce, Property and Republic of Ireland Director Executive Board Patrick Cescau Non-executive Director David Reid Chairman Non Executive Board Karen Cook Non-executive Director (Source-AR 2009) 4.3 Analysis of Tescos Financial Risk For the financial analysis of Tesco, traditional ratio analysis (For Definition and Explanation of Ratio Analysis please refer Appendix C) has been used Profitability Liquidity Financial Gearing Investor and Efficiency ratios. PROFITABILITY Ratio 2009 2008 2007 Return on Equity (ROE) 16.66% 17.89% 17.96% Return on Capital Employed (ROCE) 6.96% 9.25% 10.67% Net Profit Margin 3.98% 4.5% 4.45% The analysis of the Return on Equity shows that the return slightly fell in 2008 to 17.89% from 17.96% in 2007, it further decreased in 2009 to 16.66%. Further investigation of this shows that though the retained earnings in 2008 of  £6,871m is an increase from 2007 level of  £5,693m, the management of Tesco was prudent in the use of available resources, due to the recent GFC. Return on Capital Employed reveals a consistent and steady decline in this rate of return from 10.67% in 2007 to 9.25% in 2008 and 6.96% in 2009. This trend was primarily due to a consistent rise in the current assets of Tesco: it rose in 2007 from  £4,576m to  £6300m in 2008, then in 2009 to  £14,045m. The Net Profit Margin remained almost the same, from 2007 with 4.45% to 4.5% in 2008, but decreased in 2009 to 3.98% for each pound of sales. This can be attributed to the recession, where people tend to spend less and save more. LIQUIDITY Ratio 2009 2008 2007 Current Ratio 0.76 0.58 0.56 Quick Ratio 0.61 0.35 0.32 The Current ratio shows a consistent growth from 0.56 in 2007 to 0.58 in 2008 and then highest of 0.76 due to a 127.15% growth of current assets in 2009, this shows a continuous improvement in Tescos liquidity. Even though a good growth is observed the ratio is a reflection that Tesco is highly exposed to its liabilities. This ratio also shows an increased tendency of liquidity problems since it current assets cannot cover its current liabilities. The Quick ratio is similar to that of the current ratio, with much lower ratios of 0.32 in 2007 to 0.35 in 2008 and highest ratio of 0.61 in 2009. These results also show increasing liquidity as well as a poor coverage of current liabilities by the quick assets. Cashflow Analysis Tescos Free Cashflow Cashflow detail 2009  £In millions 2008  £In millions Cashflow from Operating activities 4978 4099 Net cash used in investing activities 5974 2954 Dividends paid 883 792 Interest paid 562 410 Tax paid 456 346 Free Cashflow -2897 -403 Cashflow Ratios 2009 2008 2007 Cash Return on Sales 9.16% 8.66% 8.28% Cash Debt Coverage 19.39% 25.22% 25.82% Cash-Flow Coverage 63.21% 91.04% 94.66% On analysis of Tescos free cash flow), it dropped significantly from 2007 to 2009, it is in negative of - £199m in 2007, increasing to - £403m, and sharply increasing to - £2897m respectively.. The increase in dividend payout accounts for  £91m (between 2008 to 2009) and explains a small portion of the drop . But the total drop in the cash flow from 2008 to 2009 is a sharp - £3300m. The analysis of Cash Return on Sales determines that from 2007 to 2009 it has increased by 8.3%, to 8.66% and then to 9.16% respectively. Tescos cash return on sales in 2009 of 9.16% is higher than its Net Profit margin of 3.98% in 2009, which is a good sign. The Cash Debt Coverage also shows that Tescos cash position worsened from 2007 to 2009 (i.e) the cash to debt coverage was 25.82%, 25.22% and 19.39% respectively. One of the reasons is that Tescos long-term debt increased between 2007 to 2009 by  £8934m. The CashFlow Coverage shows that the cash generated by Tesco from its operations, to meet its obligations, decreased from 94.66% in 2007, to 91.04% in 2008 , to 63.21% in 2009. To cover the rest of its cash needs, Tesco had to use cash on hand at the beginning of the year, to make up the cash shortfall. P.T.O FINANCIAL GEARING LEVERAGE Analysis Ratio 2009 2008 2007 Interest Cover ratio 6.71 times 11.16 times 12.26 times Debt to shareholders equity 2.54 times 1.53 times 1.35 times Debt to Capital 55.86% 40.36% 35.03% The Interest Cover ratio shows a decline from 12.26 times in 2007 to 11.16 times in 2008 and the lowest ratio of 6.71 times in 2009. The Analysis of the finance cost shows the drop in 2009 was primarily due to an 87.75% increase in non-current liabilities which lead to a 91.2% increase in finance cost. Debt to shareholders equity, shows the usage of creditors by Tesco for every  £1 from investors, increased from 2007 to 2009, by  £1.35,  £1.53 to  £2.54 times respectively. This reflects that the dependence of Tesco on money raised by borrowing has sharply increased in 2009, from 2007 compared to its usage of money raised by selling shares to investors. This also reflects that in 2009, Tesco had a high amount of debt at 2.54, which means it will have to pay higher interest rates to finance its capital activities. Tescos Debt to Capital increased from 35.03% in 2007, to 40.36% in 2008 and rose to 55.86% in 2009, which is very high, and indicates an increasing cost of operating, as it tries to meet its obligations of paying higher interest rates. P.T.O INVESTOR RATIOS Ratio 2009 2008 2007 Dividend Payout Ratio 26.8% 24.4% 21.6% Earnings per Share (EPS) 27.50p 26.95p 23.84p Price/Earnings (P/E) Ratio 16.30 times 16.73 times 18.91 times The analysis of Dividend Payout Ratio shows the payout ratio has been increasing from 21.6% in 2007 to 24.4% in 2008 and 26.8% in 2009. Earnings per Share shows that it is increasing year to year, with EPS in 2007 of 23.84p, in 2008 of 26.95p and 2009 of 27.50p, with the largest increase between 2007 and 2008. The profit for the year in 2008 was higher than in 2007and there was also a reduction of shares in issue from 7,947m to 7,863m in the same year. The analysis of the Price/Earnings shows a continuously declining P/E ratio, with 18.91 times in 2007, 16.73 times in 2008, and 16.30 times in 2009, probably due to a decreasing growth rates in profits- 12.16% growth in 2008 and 1.69% growth in 2009. P.T.O EFFICIENCY Ratios Ratio 2009 In days 2008 In days 2007 In days Inventory Turnover Period (ITP) 19.44 days 20.31 days 17.89 days Trade Receivables Period (TRP) 12.08 days 10.12 days 9.24 days The analysis of the Inventory Turnover Period shows an increase from 17.89 days in 2007 to 20.31 days in 2008 and fell to 19.44 days in 2009. The Trade Receivables Period shows a consistent increase in the TRP: in 2007 9.24 days to 10.12 days in 2008 and a higher increase to 12.08 days in 2009. This could be due to stiff competition in the retail industry and increased credit sales demands of customers. Please note- For Analysis of Financial Risk of Hilton Food, please refer to Appendix B. 5. Justification of assumptions made and techniques used: 5.1 Justification of assumptions made: -Table a) It is assumed that Tesco will takeover Hilton Food and fund its acquisition by the potential issue of long -term bonds. This assumption is taken to conduct this particular credit risk analysis. b) Tesco Financial Year (FY) ended on Feb 28, 2009, and Hilton Food FY ended on 31 December 2008, so despite the accounting year differences, we have maintained that all accounting conditions still remain the same for the sake of comparative study. c) Tesco is one of the biggest retailers in the world with a diversified business, and the assumed acquisition is due to Hilton Food (HF) being a customer of Tesco in the real world, where HF supplies packed meat to Tesco stores across UK and Europe. So this acquisition, would make economic sense to Tescos business expansion, by supplying packed-meat under its own brand name, and economies of scale. P.T.O 5.2 Justification of techniques used: -Table a) We have only conducted Business Risk and Corporate Governance Risk Analysis for Tesco, and not for Hilton Food (HF), as with the future acquisition HF would either be a subsidiary or merge with Tescos entity, and come under Tescos management. Therefore, it would be Tescos Business and Corporate Governance risk which would influence Hilton Food. b) We have analyzed both Tescos and HFs Financial Risk, because when an investor would look at Tescos long-term bond issue, he would like to know about the business and financial risk of both Tesco and HF. c) Financial Risk Analysis (FRA) of Tesco has been done for 2007, 2008 and 2009 and FRA has been done for HF only for 2009, because we have presumed after the acquisition, HF would be a part of Tescos business, so only current2009 FRA is done for HF. d) We have not designated any credit rating like AA, BB etc. according to SP, Fitch or Moodys, because, they use sophisticated credit risk models, and calculations for default and recovery rates, and credit scoring system, Our analysis is based on studying the Business, Corporate Governance and Financial Risk by simpler analytical tools. 6. Rationale Behind Recommendation- Highlights Table a) The analysis of Tesco Plc, reveals that the company has shown good profitability and revenue growth, with good sales growth even in difficult times (GFC). Tesco as a business has revealed further expansion plans across different countries. The SWOT Analysis of Tesco reveals that Tesco, is following a sound business model.

The Viking :: essays research papers

Subject: Explain how World War II is a total war. Total War By 1939 France and Great Britain had declared war on Germany. Germany had invaded Poland and was working towards European domination while on the other side of the globe Japan had launched a massive attack on China and Korea and was steadily moving over the Pacific in an attempt to gain complete control over Greater East Asia. Italy was attempting to conquer the Mediterranean and was, thus far, triumphant. All was being broadcast globally on the radio. This was becoming a war unlike any in the 20th century, even the First World War couldn’t compare to this gruesome fight against fascism, communism and world domination. For the first time ever there was a war on nearly every continent and ocean as well as every head and heart. This essay will examine how the media, economic and militaristic mobilization as well as the ideological opinions contribute to the view of the world being engrossed in what has now been called "the last noble war". This war characterized itself by the complete mobilization of man and his resources. Governments are soliciting the public for money: raising taxes, requesting the buying of war bonds, using every reserve they have including colonies, for soldiers and textiles, for example: coal, steel etc†¦ Also there are strategic bombings of large cities, for the first time civilians fall victim, in great numbers, to the destruction of war. 50,000,000 people died in WWII, approximately 17,000,000 were civilians. With the help of the Nazis the term "genocide" was defined in this war. No genocidal attempt had ever achieved the same amount of success as Hitler’s racial cleansing. This along with Communist Russia only fueled the war time propaganda. "Lebensraum", "La Grande Croisade, Là ©gion des Volontaires Franà §ais contre le Bolchevisme", "Battle of Germany-Join an Air Crew". All of these are slogans or captions of posters propagandizing the war effort on the home fronts. Radios all over the world were broadcasting speeches from world leaders encouraging everyone to do what they can in support of the war effort. Posters and flyers everywhere were distributing the country’s propaganda, urging the public to buy government war bonds and, at least in the US, requesting that women sacrifice their pantyhose to be used for gun powder sacks and other nylon materials. Because of the radio publicity the war is being broadcast into every home around the globe and the soldiers are no longer the only ones to be involved in the war.

Spring Jazz Band Concert Report

On Friday, April 29, 2011, I went to see Spring Jazz Concert at Sophia B. Clarke Theater. Most of performers have great instrument skill and show us a wonderful music. Each movement highlights the character, range, and technical abilities of an individual instrument, all of pieces stand on their own as intricate musical gems. The show was divided for two parts, and they have different sections on those two parts.During the concert, we would hear different music programs by playing in different music instruments such as saxophones, trumpets, trombones, drums, bass, guitar, and piano. Each performer represents different music instruments. On the first parts of the concert, there were three songs. In conclusion, I enjoyed this concert very much because the music in this concert was very nice. In my opinion, I had totally different feelings between I listened music in the concert and at home, and the atmosphere of concert was awesome.Besides the music, I had deep impression in the perfor mers; every performers in the concert had much passion when they were performing. In my opinion, because of their wonderful performance, I could hear such nice music. Also, everyone in the concert was polite. Every times when conductor came to the stage or the song was end, almost every audience stood up and applauded to the performers, the applause lasted for a pretty long time. At that time, I felt so good. All in all, I really enjoyed this concert.The tone color of most of the jazz bands that I saw was smooth and inviting. This made the bands easier to listen to. They were polyphonic in structure, where all of the different instruments were playing different melodies. The rhythm that was used was in a quadruple meter. This was true for all of the bands. The only thing that I wished would have happened was that there would have been more improvisation instead of reading from sheet music. They were very structured in that way.

Eriksons Psychosocial Stages Children And Young People Essays

Eriksons Psychosocial Stages Children And Young People Essays Eriksons Psychosocial Stages Children And Young People Essay Eriksons Psychosocial Stages Children And Young People Essay Erik Erikson s is a Neo-Freudian ; his theory is the spread outing of Sigmund Freud s theory. He expands it with other dimension and increases the clip of development. Freud s psychosexual theory emphasises that personalities develop in the early childhood, but Erikson does non hold with him and stated that development occurs from born until dead, therefore, he increases the figure of phases until late maturity. Besides that, Erikson besides stressed on the influences of cognitive and societal interaction in development. He merely partly believes in Freud theory about the unconscious head. He believes that ego represent personality better than Idaho. Erikson divided development into eight alone phases. In each phase, a crisis and struggle occur and we have to come out with an appropriate solution. If the crisis is failed to get the better of, it will be brought frontward to the following phase and hence affects the development inthe hereafter phases. Erikson s theory is discontinuous within phases but continues between phases. He used the term epigenetic rule, which means that if person had faced a job and delayed the development on a peculiar phase, the undermentioned phases will besides confront jobs or will non develop good ( Fleming, 2004 ) . Vice versa, if it is a successful development at the first phase, so the ulterior phases may develop positively every bit good. However, the earlier phases can reoccur once more in anytime ( Sneed, Whitbourne, A ; Culang, 2006 ) . When the struggle on the peculiar phase is overcome, so the self-importance strength will increase, and higher self-importance strength tends to hold higher o pportunities of successful development of personality in the hereafter. The opposite strength of self-importance strength is core pathology which decreases as self-importance strength addition. Introduction about Mother Teresa Mother Teresa was born on August 26, 1910 and died on September 5, 1997 ( Abrams, 1997 ) . Her birth name is Agnes Gonxha Bojaxhiu and she adopted the name Teresa from Saint Teresa of Lisieux, the frequenter saint of foreign missionaries ( Leo, 2001 ) . She was born in Skopje, the current capital of the Republic of Macedonia. Skopje was portion of the Ottoman Empire at the clip of her birth and Skopje was conquered by the Kingdom of Serbia in 1912, when Mother Teresa was two old ages old ( Hitchens, 2013 ) . Mother Teresa was the youngest in her household with an senior sister, Aga and a brother, Lazar. Her male parent, Nikola Bojaxhiu was a well-known contractor that died when Mother Teresa was 8 old ages old. By the age of 12, Mother Teresa felt the call from the God to function Him as a nun ( Leo, 2001 ) . By the age of 18, Mother Teresa made up her head and became a nun. She left her place in Skopje and joinedA the Sisters of Loreto of Dublin. She was sent to India in the twelvemonth of 1929 ( Rosenberg, 2013 ) . She taught in Saint Mary s High School in Calcutta, India for 20 old ages ( Leo, 2001 ) . On September 10, 1946, Mother Teresa received a call within a call from God to assist the hapless while she was going to Darjeeling ( Rosenberg, 2013 ) . In 1948, Pope Pious XII gave Mother Teresa the permission to go forth her responsibilities ( Leo, 2001 ) . After she left her responsibilities in order to assist the hapless and stateless people, she began an open-aired school and established a place for the deceasing destitute in an old edifice ( Hitchens, 2013 ) . Home for the deceasing destitute is now known as hospice. On October 7, 1950, Mother Teresa received permission to get down her ain order, The Missionaries of Charity that was intended to assist the hapless, uncared and stateless people ( Leo, 2001 ) . In 1965, The Missionaries of Charity became an international Religious Family with the edict of Pope Paul VI. In 1979, Mother Teresa s difficult work had been recognised and she was awarded with the Nobel Peace Prize. Besides that, she was besides awarded by Pope John XXIII with the Peace Prize on 1971, Nehru Prize on 1972, Balzan Proze on 1979 and Templeton and Magsaysay awards ( Abrams, 1997 ) . On September 5, 1997, Mother Teresa passed off because of terrible cardiac apprehension ( Leo, 2001 ) . 1st Stage Trust vs. Mistrust This phase happens from birth to one twelvemonth old. The new Born baby first experiences the universe ; they need to cognize that they will confront many challenges in their future life. A changeless attending and skin ship are really of import for the babyhood in this phase. The attention giver plays an of import function and has large influences on babyhood to get the better of the crisis. If the Infancies basic demands can non be fulfill, the babe may developed misgiving. Vice versa, the babyhood can be said has developed trust if the babyhoods can remain calmed even though the attention givers is non around them. Mother Teresa was born on August 26, 1910 in Agnes Gonxha Bojaxhiu in Skopje, Macedonia ( Nobel Prize, 1979 ) . Mother Teresa was the 3rd and the last kids in her household. Parents tend to love their youngest kid more. ( The Telegraph, 2011 ) . Mother Teresa may have many loves and attention from her parents. She will acquire the attendings that are really of import to get the better of the crisis in this phase. Besides, Mother Teresa male parent, Nikola was a successful man of affairs and her female parent, Dranafile is a house married woman who stayed at place and takes attention of their kids. It is obvious that Dranafile can pay all her attending on taking attention of her new born babe, Mother Teresa. Hence, Mother Teresa developed trust. Mother Teresa was born in Albanian Catholic household ( Rosenberg, 2013 ) . Albania is a cragged state, 28,748 square stat mis in size, somewhat larger than the province of Maryland ( Jurgens, 2013 ) . There are no any grounds show how the Albanian raise their kids in twelvemonth 1910. However, Skopje, the topographic point where Mother Teresa was born is prevailing Muslim metropolis in the Balkans ( Jurgens, 2013 ) . There are besides no grounds shows the crisis between Muslim and Christian in Macedonia in 1910. 2nd Stage Autonomy vs. Shame and Doubt The 2nd phase occurs between one to three old ages old. Toddlers start to seek to command their organic structure motion. They want to make things such as walking, eating and intestines control by their ain. If the parent is impatient and frequently show anger towards the yearlings when the yearlings are practising to make things, the yearlings will developed shamed and doubt on themselves. In this period, it is of import that parents set regulations of criterions on yearling s behaviour. The yearlings should hold the thought of what can make and what can non make, larning the jurisprudence and order . At the beginning of the 19th century, Albania s battle for independency. In 1912, during World War I Albania became associated state of the Great Powers after a short period of independency in 1912 ( Jurgens, 2013 ) . Mother Teresa that when she is 2 old ages old. During the war, parents could nt hold the full attending on their kids. In this instance, Mother Teresa has to larn accomplishments all by herself. However, since she is the last kids in her household, her parents already have the experiences when turning up the senior kids. She will besides have the regulations to command her behavior. Mother Teresa s parents was Christian, they will hold subject to restraint Mother Teresa behaviours every bit good. Furthermore, Erikson s theory stated that the positive result of the earlier phases will take to successful development in the hereafter stages. Mother Teresa developed trust in first phases, hence, she has higher opportunity to get the better of the crisis in this phases. 3rd Stage Initiative V. Guilt On this phase, the kids will get down to be more active and parents may see the kid s action as aggressive ( Bee, 1992 ) . At the age of 3 old ages old, kids will get down to play game and drama with the others. If the kid is given an chance, the kid will develop the sense of enterprise and experience secure with their ability to do determinations and to steer others ( McLeod, 2008 ) . In the same age, the kids will besides get down to inquire many inquiries because they are funny of why the specific event happened or why the object is called the particular name. If the parents treated those inquiries as irritation and scolded the kid for inquiring many inquiries may take the kid to develop guilt in them ( McLeod, 2008 ) . At this phase, we can non place any specific grounds in order to associate or proof that Mother Teresa adopted inaugural or guilt in her life because of the deficient biographical grounds. 4th Phase Industry ( competency ) vs. Inferiority On phase four, kids will get down to larn how to compose, read, mathematical accomplishment and even do things by their ain. At this phase, the instructors play an of import function in order to assist the kids to larn the accomplishment needed. Besides this phase, the major beginning of the kid s self-pride will come from the kid s equal group. The kids now will experience the demand to win blessing from the equal group by demoing their accomplishments that are valued by the society. This will assist the kid to develop the sense of provide in the kids s achievements ( McLeod, 2008 ) . If kids are reinforced for their enterprise, they will get down to experience hardworking and they will experience confident with their ain ability to accomplish ends. In contrast, if kids can non develop accomplishment that they think society is demanding so kids may develop the sense of lower status ( McLeod, 2008 ) . At the age of 8 old ages old, Mother Teresa lost her male parent and she became close with her female parent who was a pious and compassionate adult female that instilled Mother Teresa with a deep committedness to charity ( Hitchens, 2013 ) . This proved that Mother Teresa was taught by her female parent to make charity and it affected Mother Teresa s life profoundly. To affect in charity became a necessary accomplishment in Mother Teresa s life as the accomplishment was profoundly implant by her female parent. Mother Teresa develops the demand to affect in charity and was reinforced by her female parent and Mother Teresa construct confident in her and continues her good occupation affecting in charity. 5th phase individuality vs. individuality confusion We will travel through this phase about from the age of 13 to the age of 18 old ages old. During this phase, the stripling will confront happening out who they truly are and what can they go in the hereafter. If one explore 1s function in a healthy mode so a positive individuality will decide, if non, individuality confusion will reign. At the age of 12, she felt strongly the call of God to function Him as a nun. She knew she had to be a missional to distribute the love of Christ. For about 5 old ages Mother Theresa thought hard about it. During this clip, she was really active in church and besides helped her female parent to give nutrient to the hapless. Having read many articles, she was really determined to go a nun. 18 old ages old, she left her parental place in Skojpe and joined the sisters of Loreto, an Irish community of nuns with mission in India. Later on, she traveled all the manner to India. She neer retuned back place after that. Mother Theresa achieved a really positive individuality to go a nun. Although she had to believe long and hard about it, she was really determined to follow the call of God to go a nun. She besides had an individuality of a good girl and neighbor by assisting her female parent to give out nutrient to the hapless about every twenty-four hours. 6th phase familiarity vs. isolation The 6th phase of Erikson s psychosocial development is intimacy versus isolation which we will travel through when we are immature grownups, about from the age 20 to 40 old ages old. During this phase, immature grownups want to suit in and happen love. They want to hold an confidant, loving relationship with one another. If that peculiar individual does non happen this familiarity or does non cognize how to demo love, he or she will so go down and stray. Erikson s psychosocial theory is ever based on the old phase. Therefore, if the individual did non happen his or her individuality, so that individual will happen it difficult to love and to be intimate with another individual, hence that individual is more frequent to isolation and depression. During this period of age, Mother Theresa taught geographics and catechism at St. Mary s, Calcutta, India. All the misss in her category loved her hence she was their favourite instructor. Mother Theresa shortly became the principal of St. Mary s in 1944. She besides has an confidant relationship with Christ. Unfortunately, Mother Theresa was diagnosed with TB and had to halt instruction. She was sent to Darjeeling to rest. During her train drive to Darjeeling, Mother Theresa received her 2nd call. During that minute, she was inspired by a message to acquire out of the convent and travel leave with the needy. After about 20 old ages with the Loreto order, Mother Theresa left the convent to first pass some hebdomads in Patna with the Medical Mission Sisters to hold some basic medical cognition. When she was 38 old ages old, Mother Theresa was ready to travel out into the slums of India to assist the poorest of the hapless. While walking in the slums, Mother Theresa found some little k ids. The lone thing she was great at that clip was learning and hence she began to give an instruction to the small kids in the slums utilizing merely sticks and clay so subsequently on rented a hut and turned it into a schoolroom. She besides began sing other households in the slum to offer them love and limited medical aid. Other people heard of what she was making and gave her contributions. Soon Mother Theresa opened the Missionaries of Charity. As a decision, Mother Theresa had familiarity. She was loved by her pupils and has a strong confidant relationship with Christ. She even found her individuality during the fifth phase to be a nun. She even showed love towards the hapless when she got the 2nd call. Her love was shown by the manner she would travel to households of the slum to offer them the small cognition of medical intervention she had. She showed familiarity when she taught some small kids because she wanted them to turn up and hold a brighter hereafter. 7th Stage Generativity vs. Stagnation The penultimate phase of Erickson s theory of psychosocial development is possibly the 1 that can be observed most conspicuously in Mother Teresa of Calcutta. While it is hard to state what Mother Teresa herself would hold replied to the inquiry of whether she felt her ain life was meaningful plenty, it can certainly be concluded that she made a difference to 1000s of other people, accomplishing miracles in the field of societal services, kid attention and general peacemaking of humanity. The 2nd to last phase of Erickson s theory calls into the inquiry the value of a individual s life as he/she sees it. For in late maturity merely is an single forced to see inquiries of existential philosophy such as is my life meaningful and what have I achieved over these past old ages . If the reply is a satisfactory one so the person would hold a high sense of generativity significance he/she would desire to go through down his/her bequest to the following coevals. In a batch of ways, this peculiar phase of development is about releasing control over on to the following coevals because one cares adequate about them to be able to do one s peace with it. In a batch of ways, this phase is of doing manner for the new coevals and guaranting its saving which is what Mother Teresa did in copiousness. She inspired a assortment of memorializations. She has been memorialised through museums, been named patronne of assorted churches, and had assorted constructions and roads named after her. All this demonstrates non merely her highly active engagement in causes of societal public assistance but her ain concern for the following coevals every bit good as the hapless and the underprivileged whom she dedicated her life to. 8th Stage Integrity V. Despair The concluding phase in Erickson s Psychosocial development theory Integrity and Despair. It is the phase where we have evaluated our life ( as seen antecedently ) and are now ready to go through a determination on whether it is worthwhile or non. Integrity stems from cognizing that your life has been an enriched and carry throughing one while desperation is normally the consequence of thought that you have made no noteworthy difference whatsoever throughout your being. In Mother Teresa s instance, it is really obvious that her life was one filled with enrichment despite her following the life style of the hapless. The mere fact that she chose this life style as opposed to populating like a in-between category adult female is proof plenty that she had high sums of unity. In the concluding old ages of her life, Mother Teresa suffered a bosom onslaught in Rome in 1983, while sing Pope John Paul II. After a 2nd onslaught in 1989, she received an unreal pacesetter. In 1991, after a conflict with pneumonia while in Mexico, she suffered farther bosom jobs. She offered to vacate her place as caput of the Missionaries of Charity, but the sisters of the order, in a secret ballot, voted for her to remain. Mother Teresa agreed to go on her work as caput of the order which shows that her ain unity was solidified by those around her who wanted her to remain on despite her worsening age and wellness. All those around her held her in high respect which built her ain degree of unity to fit. In short, mother Teresa was genuinely an inspiring person who made a difference in the lives of 1000000s and her work continues to impact societal workers and charities around the universe today. Throughout her life she lived as the hapless, working and assisting those in demand and directing a message of peace, love and spiritualty to everyone she met. She was clearly one of the most particular persons to walk the Earth and phases of her life can easy be studied through the lives she touched and the stuff she inspired. Through Erickson s phases of psychosocial developments, her life and work may be mapped as a genuinely built-in portion of the universe s history. Decision