Btec Business Level Essay

TESCO’s customers want a quality product they can buy for a reasonable price. They want these products to be of good standard because the customer is spending their money on the products. Customers want the money they spend on purchasing these products to be worth it and that the quality they receive from the amount they have paid to be of a good standard. TESCO respond to this need by making sure to they sell the right products for their store because if they don’t they could lose a valuable customer, customers are the one putting their money into the revenue of the company. TESCO are always building new stores around the world all of the time but some people disagree with them building them, as we have found out in Bristol last year when there was riot over TESCO being built. TECO’s business objective of ‘To be a creator of highly valued brands’ is influenced by the customer stakeholder. This is because the part of the objective ‘be a creator’ this means that they want to have a high valued brands to make sure the customers return again to buy their products that they are selling in the store. Directors/Managers Directors want to have the business to strive and make sure their employees are happy with the conditions they are working in. They always are working to improve the business. TESCO’s business objective ‘’To grow the UK core’’ is influenced by the directors because they want to the company to be the best that it can be and to strive well by creating new opportunities for their employees and building new stores to give the unemployed jobs to go too. Government Government influence TESCO because they make the decisions on how much tax is given to the company, they also influence TESCO by deciding when they can build the stores and whether its applicable to be in that particular area. TESCO business objective ‘’To grow the UK core. ’’ The government influence this because they set the tax and make sure they are operating within the guidelines, they read through the planning applications for where they want the stores to be. Suppliers Suppliers influence TESCO by the growth of purchasing the long term contracts, this links to the business objective of ‘’To grow retail services in all our markets’’ because when they want to expand their business they want to make sure that the suppliers can supply the same product for every store they have. A benefit of having local suppliers is that it supports the community, and as Tesco has different stores all around the world which means different countries require different suppliers. Employees TESCO workers want a regular work and pay, good wages for the work and hours they do and to be a valued member of the team. To be listened to when they have a problem or they have a fault that affects their working conditions and they are all given training to make sure they can work to the full maximum of what Tesco wants. TESCO’s business objective ‘To build our team so that we create more value’ is influenced by the employee stakeholder this is because TESCO are always looking for new employees and that new people are joining the team every day to expand the business even more. Employees are key for customers to return. Shareholders TESCO’s business objective ‘’To be an outstanding international retailer in stores and online’’. This influenced by the shareholders because they are suggesting improvements that affect the quality of what they are selling and expanding their business with help with the directors of the company. Tesco need shareholders money to expand because they are the ones who are investing in the company but also shareholders do expect a dividend at the end. Communities TESCO communities always have preservations on whether they like the store where it is and whether they think it is right for the area. TESCO try and work together with the communities where their stores are, TESCO business objective ‘’To put our responsibilities to the communities we serve at the heart of what we do. ’ This influenced by the community because they suggest ideas to the store. Tesco are providing a local service to the community with providing jobs which is means more money going to the government. TESCO try their best to change these and make the store a better place for customers.

Statement of Career Goals

As an international student from the Taiwan, my primary career objective is to become a financial analyst specializing in accounting information systems for a multinational corporation. My desire to pursue a career for a multinational company does not merely represent a motivation to generate profits on my side. Far more essential, I feel that a com/strategic-management-and-competitive-advantage/">multinational setting can realize the potential of becoming a truly ethnical entity for globalization, mutual understanding and the extension of opportunity. In a manner of speaking, my career goal lays in the belief that I can help transform the international market from its highly profit-centered orientation into a more people-centered endeavor. While I do not hold the legitimate way of making money as contradictory to the ethical norms business, I nevertheless feel that working to ensure that the people’s welfare is met in the conduct of fair business is a duty second to none. Concretely, I seek to use my multi-cultural background to help develop ties among businesses and cause-oriented sectors. This I believe I can do by framing ways to increase interactions between profit making companies and non-profit or charitable sectors. Global corporations in America, for instance, have already donated millions to international charities. From such benevolence, I take inspiration in my desire to promote similar ties. By capitalizing on my multi-cultural background, as well as my meaningful working experiences related to finance and technology, on top of my ten-year commitment to charitable organizations, I believe that I can direct my future goals to clarify my idea of success. I intend to build on these accomplishments specifically by helping businesses thrive in a competitive global market, by exploiting information systems to perform increasingly more sophisticated, powerful and accurate analyses. I have already assisted a charitable organization to minimize its costs by helping them to digitize their data. I too have performed similar functions for profit-driven businesses which I have had the privilege of working with in Taipei. My desire to join the pool of a truly talented multinational workforce comes with a sense of relevance on my part. For one, Asia is fast becoming a hub for global financial communication. In view of such development, I believe that my Asian background and language skills will be invaluable to the current trend of global business. The dependency of many American firms on East Asian economies will surely demand people – Asians specifically – who play key roles in efforts to achieve powerful work ethics. As indeed, many competent Asians shall be asked to assist American businessmen in respect to the mutual cooperation within the vast business industry. Since I myself am an Asian, I am of the firm opinion that that success in the international field depends on a strong knowledge of Asian culture and ways of life. In a global economy, understanding cross-cultural communication is as essential as competent grasp of Math and/or English. Furthermore, information systems are at the center of international business nowadays. And I want to continue to learn about their functioning, evolution and their future, as this will maintain itself at the center of global communication. I want to learn more about the process of financial analysis in general, as well as technologies that can make such analysis more accurate, convenient, efficient and powerful in particular. Since I already have some knowledge and expertise in this area, I believe I will flourish in the classroom and be in a position to contribute to discussions. I envision creating group projects in which my peers and I demonstrate how, say companies can use the information systems available in new world markets. Among others, I am interested in learning new ways to apply accuracy of information systems if only business organizations can become more efficient. I define efficiency as the ability frame strategies so as to get the most results from the smallest amount of work. Far more critical, I want to learn the ways of efficiency since it will permit firms to use labor in a more humane way, especially in the developing world. Reforms in the labor market can only develop when firms are confident that they are getting the most out of their workers. Hence, the efficient use of labor and resources lies at the center of labor market reform. For me, business is ethics; without it, businesses are merely machines for exploitation. One of the great learning unearthed by globalization lays in the need for comprehensive labor reform – i. e. , forming a mindset that treats human persons neither as resources nor means to make money, but as ends. This ethical view can only help business become more humanitarian yet competitive in many respects. In view of such felt need, I believe that my extensive travels, diverse experiences, and sound grasp of the languages can summarily give me a unique ability to serve for a multinational setting. I do have significant experiences both in terms of community philanthropy as well as in international business. Which is why, and on a more personal level, I want to meet new people in the course of my employment. My frequent travels have made me realize that I am a citizen of the world; and I have come to understand different cultures even when economics does in fact greatly color my orientation in respect to future work and life goals. My long-term career goal is to make the world smaller. This might sound strange, but I hold to the view that international business is a benign force, a force that brings people together, provides opportunities where none exists, and even may help to contribute to world peace. Businesses seek peace and common welfare; not warfare or ethnic and religious tension. An interconnected world is a sure route to world peace. And the ease of communications is important in relation to this trend. Hence, I see my future profession as both ethically consistent and relevantly attuned to the demands of the signs of the times. Essay II: Statement of Need I grew up in an environment where hard work was stressed above all. At a young age, I was expected to get a job and assist in fulfilling certain household tasks. In ways more than one, failure was never an option. I was expected to work hard, interact ethically with others, and make myself as unobtrusive as possible. None of these were ever interpreted as being a wallflower. To the contrary, I was raised in an environment where professional duties, no matter how menial, are given higher premium than most. This is because my family fostered the values of dedication and hard work, as well as keeping a sense of history and setting high the bar of excellence in facing challenges. I have reasons to think that nearly all things about my upbringing were goal oriented. Hard-work was always underscored; idleness always shunned. In the same manner, labor for our family was considered a means of building character and goal-oriented personality. As a way to concretely cite the case in point, I took upon myself the tall challenge of working full shift while learning English simultaneously. I took cue from the inspiration lent by my parents, as they were the ones who taught me that â€Å"multi-lingualism† was central to being successful in business. In fact, they encouraged multiculturalism because it does not entail that one’s tradition were to be abandoned or watered down by some vulgar, polyglot, or identity-less morass. To the contrary, multiculturalism was to manifest one’s own culture more actively and more tolerantly, being that it fully appreciates the distinctness and uniqueness of one’s tradition. While the phrase is surely overused, I have reasons to think that I was, in my own concrete way, living the American dream long before I arrived here in the United States of America. This is because I simultaneously held a job while working hard to ensure succeeding in high school back when I was in Taiwan. I have had a fair share of life’s struggles; I would run home after school, quickly change my outfit and, after grabbing a snack, proceed hastily to work at a restaurant within Hilton Hotel. I was like living two different lives in one day – i. . an ordinary high school student in the morning and a professional thereafter. That being said, I take pride in managing the routine so well in that moving between school and work soon became second nature to me. But while I have many good reasons to think that I can face similar challenges here in the United States, my visa unfortunately does not permit me to work and study at the same time. To this end, I am currently unemp loyed, not because I had choice, but because the nature of my visa would not permit to work in this country yet. My situation is therefore precarious. As an international student, I have many obstacles to overcome. While the fact that I am able to study in this country is in itself a blessing to be grateful about, I am always left anxious about keeping an acceptable and decent lifestyle while I am in course of pursuing my studies. If truth be said, the living expenses here in the United States are high; more importantly, tuition costs here in Michigan is higher than for most Americans. Strictly speaking, I am spending about $32,000 annually to defray my tuition expenses. And I must cover all of these expenses by myself, as I am living alone. One can only therefore surmise that the aggregate costs of basic living, daily food, apartment rentals, clothing allowance, provisions for books, necessary computer equipments, among others are just very high. Since the American government forbids that I engage in any professional work while studying, I believe that I can do little to support myself financially. At present, I receive a small sum of money from my family in Taiwan; the amount of support that I am able to receive is quite minimal. My father is 65 years of age and has retired from his profession. In fact, his savings are now almost depleted. In addition, our family has already mortgaged our home in China so as to assist me in my studies. My personal savings from my previous work in Taiwan is also almost completely exhausted. My other option is to go heavily into debt, which I am already doing. Unfortunately, I cannot have this continue. Hence, this scholarship is extremely important to me. And I am willing to work hard if only to prove that I do deserve to be helped on account of my qualifications as well as exigencies. Since coming to the United States, I have maintained a GPA of 3. 6 at the University of Michigan and Mercer University. I need to also mention that I have consistently maintained my position in the Dean’s List for many years. Ever since I have been here in Michigan, I have met people from all over the world; and I value these fruitful encounters precisely because of the learning that these people have left me with. In applying for International Business, I seek to continue learning from as many fronts as possible – i. . , from the peoples of different walks of life in general, and the University in particular. Hence, I wish to categorically state my willingness to learn, and let the committee know that money that shall be spent on me would never go wasted. America has done much for me. But my struggles continue. I do not view these as barriers however. To the contrary, I see them as welcome opportunities. My life has been one of hard work and struggle. As indeed, my lif e here at Michigan is just one more phase of this struggle. The struggles are some of my most precious memories; for only though hardship can we truly learn and grow. Without them, I would not become as sharp or hard working as I am today. Struggles keep one’s heart strong and tenacious. As of this writing however, my financial standing has come to a critical point that I need the help of the University and the scholarships available in order to help me to continue my studies. I am more than certain that, when given this rare privilege, the University community will not regret extending their helping hand to me.

Answer following questions Assignment Example | Topics and Well Written Essays - 1250 words - 1

Answer following questions - Assignment Example Those who showed no slight interest in the human rights that it as largely purported that they were abusing. However, they carried themselves out with great discretion and prided itself in privacy (Barnett 143). In time the group soon became a dreaded entity that was only whispered about with nobody admitting full responsibility for the spread of the terror that the people felt. But within time given the effectiveness of the operations, the amount of illicit guns held by the civilians reduced immensely thereby reducing the levels of crimes in the country. A young man was later arrested and charged in court with the murdered of the president John F. Kennedy which were steps made in the right direction towards an effective justice system thanks to the act. Routine activity theory and differential association theory are all theory that try to explain why people behave in particular ways thereby committing crime. While differential association theory believes that criminal behavior is learnt, routine activity theory asserts that criminals have a tendency of committing crimes again well out of routine. Differential association theory states that criminal behavior is learned. As one stays with others that are of ill behavior, he gets acclimated to the weird lifestyle and what is wrong begins to seem right. He espouses to the principles of the new group and is willing to die protecting them. The first crime is normally as a test of the understanding of the lessons taught and its success determine what more is taught. On the contrary, the routine activity theory claims that the first crime normally hap[pens as an accidents and is normally unplanned. However, its success or failure will most definitely determine the future of the criminal. A successful first time crime results in the engagement of a series of a lot others while the failure may lead to an arrest which may also serve to change perception and the criminal may

The Great Depression Assignment Example | Topics and Well Written Essays - 250 words

The Great Depression - Assignment Example These issues contributed to the Great Depression on the domestic front, however, President Hoover felt that much of the cause for America’s financial crisis could be found in international affairs; because European credit and income was highly dependent on the United States, when the U.S. lessened European investments we lessened their demand for United States goods and services. That said, the America economy was plummeting and not improving. The culmination of the Great Depression arrived on â€Å"Black Tuesday,† in October 29, 1929, when the stock market crashed and, both, individuals and companies, lost everything. During the 1929 election Hoover claimed that we would experience a â€Å"final triumph over poverty.†(Henretta et al. 2010) He initially adopted a â€Å"two-pronged strategy† that involved an ideology of volunteerism and more reliance and faith in the business industry; but his most notable initiative is the Reconstruction Finance Corporation, or RFC, which was based on a previous program developed during World War I, that granted government loans to businesses, railroads and financial institutions. (Henretta et al. 2010) All of this was intended to boost faith in the business industry and encourage them to maintain the wages to their employees. In the end, America survived the Great Depression and managed to recover, and not just recover but

Portfolio AT&T Horizontal and Vertical Analysis Essay

Portfolio AT&T Horizontal and Vertical Analysis - Essay Example AT&T had a net margin of 11.93%. In comparison with the industry average net margin of 7.8% the firm’s net margin is 4.03% higher (Dun & Bradstreet, 2012). As of September 30, 2012 the total assets of AT&T were $266,849 million dollars. In comparison with fiscal year 2011 the total assets of the firm decreased by 1%. †Total assets include cash and other items of value that can be converted into cash that are owned by a person or company† (Crutchfield, 2012).The current assets of the company in 2012 were $18,958 million which represents a decline in current assets of $4,069 million in comparison with the previous year. Based on the vertical performed the current assets of the company represent 7% of total assets. The current and total liabilities of the company during 2012 were $30,758 million and $165,575 million respectively. The current ratio shows the ability of the company to pay off its current debt. AT&T’s current ratio during 2012 was 0.62. The curren t ratio of the company is bad considering the fact that a good current ratio is above the 1.0 threshold. The formula to calculate current ratio is current assets divided by current liabilities. AT&T must improve its current ratio; otherwise the company might face liquidity problems. The return on assets (ROA) metric measures how profitable a company is in relation to its total assets (Investopedia, 2012). A high ROA is the preferable outcome. During 2012 the return on equity of the company was 4.24%. In comparison with the industry average of 17% AT&T is not exploiting and generating sufficient income from its assets (Dun & Bradstreet, 2012). The return on equity of AT&T in 2012 was 11.17%. Return on equity (ROE) is calculated by taking a year's worth of earnings and dividing them by the average shareholder equity for that year (Fool, 2012). The firm’s debt ratio is 0.62. A debt ratio is a financial metric that measures how much debt a company has in relation to its assets. T he firm’s debt to equity ratio is 1.63. The debt to equity ratio is calculated dividing total equity by the total assets of the company. The financial analysis performed on AT&T shows that the company has good profitability, but the firm seems to be using too much debt to finance its operations. The low current ratio of the company is a warning sign. Assuming the company enjoys the same revenue growth of 1% in the following fiscal the projected sales of the company in 2013 are $95,162 million. Credit Worthiness The creditworthiness of a corporation can be evaluated in a variety of ways. Corporations just like individuals have credit scores from the major credit agencies. This information is private and not accessible to the general public. Banking institution gain access to a firm’s credit scores whenever a firm applies for a loan or others financial instruments. An investor can evaluate the credit worthiness of a firm using a combination of ratios. The current ratio m easures a firm’s ability to pay off its current or short term debts. The debt to equity and debt ratio are two good indicators of how much leverage a firm has in the long term. Comparing these ratios to the industry standard is a good way to determine the credit position of the firm. Management Discussion and Analysis Four key findings for the MD&A section of the annual report of AT&T are: The future of wireless growth depends on the ability of companies to provide new innovative services and devices. The managerial staff

Relationship between Business Architecture and Innovation Essay

Relationship between Business Architecture and Innovation - Essay Example As the paper outlines the most familiar tactics include application of innovation through the potential use of advanced technology and maximum allocation of limited resources. However, firms or certain organizations are constantly faced with challenges that involved their customers, employees, suppliers, and various stakeholders. In other words, to effectively instigate competitive advantage, a certain firm aiming to reach its innovative edge needs to establish a secure relationship with its stakeholders and apply substantial strategies. In this paper, the proponent tries to analyse the relationship between business architecture and innovation. Furthermore, the role of business architecture in sustaining competitive advantage is included in the discussion. In order to have abounding knowledge of this issue, a certain case is included. The issue that innovation cannot be sustained without architecture in relation to Kodak is integrated in this essay. From this paper it is clear that the business architecture is structured within the bound of strategy, organization, technology, operations and leadership. All of these elements are interconnected with the customers, employees, suppliers and various stakeholders who are important agents of change within the industry. Thus, both of business’s external and internal environments are momentarily transforming from time to time. This is due to the fact that many organisations today are able to create a need for their various products and service offerings using their own best possible ways. In fact, modern marketing points out the fact that organisations create a need for their various product and service offerings.

Critically discuss the following statement What is marketing Easy its Essay

Critically discuss the following statement What is marketing Easy its what marketers do - Essay Example A series of theories has been gradually developed aiming to help the transformation of marketing in accordance with the current market rules. Current paper focuses on the examination of the context and the role of marketing within the modern market; the specific field is evaluated using relevant theories – as published in the academic literature. Moreover, efforts are made in order to present and explain the practical implications of marketing – as these implications are understood and handled by marketers. It is concluded that the current forms of marketing are difficult to be fully explored and evaluated – being differentiated within each commercial sector; however, the theoretical explanations on marketing – as identified through the relevant literature – can help to understand the actual role of marketing in the modern market but also its potentials for further transformation in the future. 2. Marketing – Description and functions 2.1 The context of marketing - definitions One of the key characteristics of marketing is its ability to be transformed being aligned with the market trends and demands. Initially, marketing was a discipline rather foreign to academic study; it had been rather considered as a series of practices used by professionals who deal with the promotion of products/ services within a pre-arranged market (also known as target market); the above issue is highlighted in the study of Baker et al. (1998) who noted that marketing gradually entered the academic field of knowledge; however, despite the fact that a wide range of studies has been developed in regard to the content and the role of market, still there are many of its aspects that are not clear (Baker et al 1998). Probably the reason is that the changes of the market are too quick and extensive, marketing’s rules and forms are transformed - in order to be aligned with these changes - but there is no adequate time for the phases of this t ransformation to be monitored and evaluated. From a similar point of view Viardot (2004) noted that the context and the role of marketing can be differentiated when having to enter a particular sector; reference is made, for example, to the term ‘marketing for high tech firms’ (Viardot 2004, 1); it is suggested by Viardot (2004) that marketing is described as follows: ‘putting on the market’ (Viardot 2004, 2) – a description which presents the practical use of marketing as a range of tasks focusing on the achievement of a particular target. Baker et al. (2007) use a similar approach; they note that marketing is still in a period of transition from ‘a pure professional practice to an activity explained through appropriate theoretical models’ (Baker et al 2007, 3). Kotler et al. (2010) give a different, more analytical, description of marketing; in accordance with the above researchers, marketing is ‘the process of building profitabl e customer relationships by creating value for customers and capturing value in return’ (Kotler 2010, 53). In the above description marketing is presented as being closely related to customers; in this way, the main priority of marketers is set: marketers should focus on the development of the relationship between the products/ services

Coffee Processing Essay Example | Topics and Well Written Essays - 750 words

Coffee Processing - Essay Example However, you will enjoy coffee more if you learn how to process it. It is even a good idea to process your own coffee at home and indulge in your coffee creation. Though the process is requires a lot of time, effort and complicacies, it might be worth it. The basic steps in home coffee processing are picking, pulping, fermentation, drying, hulling, and roasting. The first step in coffee processing is picking the ripe cherries. Before embarking on this task, you need to know to be able to identify and differentiate the ripe from the unripe berries. Ripe berries are deep red in color. The rationale in picking coffee cherries when they are ripe is their relatively higher aromatic oil, lower organic acid content, more fragrant, smooth, and mellow. You must manually hand pick the fruit in order to choose only the ripe ones. This is an essential step in coffee processing as classification of the handpicked fruit often determines the quality of the end product. The next step is known as defruiting or pulping which is done immediately after picking the cherries in order to preserve quality. In this stage, you now separate the coffee bean from the coffee cherry. This can be done in two ways: first, you can individually squeeze the berry by hand or you can use you can use a piece of wood to compress the berries in the container until all the seeds are removed. Afterwards, you need to fill the container with water for the seeds and the removed skin to float. The skin and the seed should be removed before they settle. You then repeat the process until the all the seeds and skin are eliminated. In order to ferment the coffee beans, they should be put in a plastic bucket filled with water. Fermentation is done in around 18-48 hours depending on the temperature of the surrounding. To test if the fermentation is complete, you should take a handful of beans and wash them with water. If the beans are already clean and not slippery, enough fermentation has already bean achieved. You can now wash the beans in running water and drain, repeating the process until the water becomes clear. Drying is the process wherein the coffee beans are spread out on a wide concrete or rock and is exposed to air or sunlight to eliminate excess moisture. You can either sun dry or use a home food dehydrator to adequately remove the moisture. To enhance effectiveness, you should see to it that the beans are stirred three times a day in the entire process. Before roasting, hulling should be done in order to remove the tough thin parchment from the beans. You can do this by placing the beans, a small quantity at a time, in a food processor with plastic blades. You need to blend the coffee beans at slow speed for about thirty minutes. A hair dryer can also be utilized to blow away the unwanted lighter parchment from the beans. After hulling, you can now store in the store the beans in jars as they are now ready for roasting. Roasting is one integral step in attaining a savory coffee. You can roast the coffee beans by baking them in the oven. Spread the coffee beans thinly in a large baking, ensuring to stir frequently to prevent burning and facilitate an even roast. It is estimated that a single layer of beans will roast in 12 minutes at 230-250C. Your personal preference should be your guide in coffee roasting. Stronger flavor is achieved by roasting a little longer than usual. After the aforementioned processes, the coffee is now ready for grinding, brewing, and

History in the Making Essay Example for Free

History in the Making Essay History†¦it’s who we are and where we come from. From cave men to cars that run on compost, history happens every day. Everything that has happened in history is absolutely fundamental in our current day existence. From the Revolutionary Era to the Cold War, America has come so far, and through the War on Terror, we continue to march on making every action history. The Revolutionary Era: After the British spent an extreme amount of money defending the Colonies against the French, they decided to shift some of the expenditures to the colonists. The result led to the Boston Tea Party in 1773 (Lib. Of Congress, p. 1), when the colonists rebelled against the British and their absurd tax on tea in order to re-coop defense expenditures. Reactions such as this led to the necessitation of order, which led to the Declaration of Independence, and the Revolutionary Era. The Constitution: As a result of deciding not to amend the current Articles of Confederation, a new frame of government was born. 55 delegates from age 26 to age 81 debated, redrafted and created what is now known as the Constitution of the United States. These articles clarified many topics such as how much control the government should have in certain areas, how representatives should be elected, and many other issues we still live by today. Since it’s publishing in 1787, there have been 27 amendments to the original version. Jeffersonianism: Derived from the term Jeffersonian, and named for its discoverer, the Jeffersonianism philosophy held that each man had a right to have a say-so in government, believed in the expansion of human freedom, and believed that every person had a right to be educated. It also supported reliance on the farmer and agriculture, instead of relying solely on History in the Making 3 industry to boost the economy. Hamiltonism, which followed Jeffersonianism, was believed to be an evil stigma to Jeffersonianism by Jeffersonians. Civil War: Brother against brother, the revolutionized nation could not decide whether or not the government should have control over the states, industrialization, and most importantly, slavery. The southern states, or the Confederate States of America, decided to take matters into their own hands and individualized themselves to make their own rules. This led to the Civil War, where one nation quarreled with its counterpart. Although the North won, losing over half a million soldiers did not make the impact any easier for anyone to handle. Reconstruction: After the period of the Civil War, a period of Reconstruction began. Attempts were made to solve differences between the Union and the 11 Confederate states that had seceded from the Union. Though opposition from the Radical Republicans was evident, the Reconstruction Act of 1867 was passed, and military districts in the South were re-established. The South had no choice but to accept the 14th and 15th amendments of the Constitution (39th Congress, p. 1). The New South: Although the days of slavery had ended, the Southern states continued to retain control over their civilization. With the abolition of slavery came anger from loss of control, which led to the birth of the Black Codes. The Black Codes allowed whites to control the newly freed slaves by regulating the type of work black people could do, the hours they worked, and prevented blacks from raising their own crops. Freedom was not freedom after all. Foreign Affairs: Lack of support from the European economies post Civil War distressed the cotton crops, as the producers became overstocked. The North added some restriction to the History in the Making 4 Southern ports, and our foreign allies soon found other sources to fulfill their needs, which hurt the South tremendously. Industrialization: As America advanced, so did the way work was performed. Not only did industrialization bring forth machinery, it also was the birth of transportation and communication. Andrew Carnegie’s steel industry revolutionized transportation. The rails made from refined steel created necessary use of the railroad system, as did communication with the use of the telegraphs and telephone systems (Feldmeth, p. 1). Progressive Era: Along with industrialization came those who felt that anything old was inefficient and useless. These reformers brought forth the Efficiency Movement, which argued that the economy, society and government were inefficient. Frederick Winslow Taylor coined the term â€Å"one best way† with the idea that there was one best way to fix everything. He, along with several other engineers improved industrial efficiency. World Wars: Taking place mostly in Europe, the First World War between the Allied Powers (France, the Russian Empire, the British Empire, Italy and the U. S) and the Central Powers (Austria-Hungary, the German Empire, Bulgaria and the Ottoman Empire) was a result of the assassination of the Austrian throne heir Archduke Franz Ferdinand and his wife. This event soon led to a full fledged war. The Treaty of Versailles would end the first war, and stake victory for the Allied Powers, but controversy over its contents would soon lead to World War II. The second war between the Allied Powers and the Axis Powers (Nazi Germany, Fascist Italy, and the Empire of Japan) would be the deadliest war to date, killing over 60 million people. This war resulted in victory for the Allied Powers. History in the Making 5 The Depression: In 1929 our nation suffered the worst market plunge to date. The stock market crash, in conjunction with the outrageous cost of WWII, led to great losses for many people. Soon, supply exceeded demand. Cities based heavy in industry-type operations, including those outside of the U. S. were hit especially hard. Farmers were also a target, as the price for crops fell between 40 and 50 percent. The New Deal, or restructuring of the economy, enforced by President Roosevelt, would help lead the nation to recovery. The Cold War: The Cold War, as dubbed by Bernard Baruch and Walter Lippmann, is a term used to describe the growing tensions between the US and the Soviet Union. It would be the longest war to date, lasting from the mid 1940’s to the early 1990’s. Post WWII, the two nations could not agree on how to reconstruct the post war world. Wars including the Korean War, the Cuban Missile Crises, and the Vietnam War were possible threats to lead into a third world war. The Cold War came to an end when Gorbachev launched his reform programs, Perestroika (reconstruction of the Soviet economy) and Glastnost (introduction of publicity and openness) (Wikipedia Staff, p. 1). It is almost impossible to summarize our nation’s history. So many events, far too many to place in a single composition of words, played key roles in the structure of how we live today. Needless to say, history continues to ensue every day. From our nation’s birth to the Cold War to the hanging of Saddam, America will continue to write a story we all should be so eager to read. References 1. Library of Congress (1998). Revolutionary Period. Retrieved in January 2007 from www. americaslibrary. gov/cgi. bin/page. cgiljb/revolt. 2. 39th Congress (1866). 14th Amendment to the US Constitution. Retrieved in January 2007 from www. nps. gov/archive/malu/documents/amend14. htm. 3. G. Feldmeth (2000). American Industrialization. Retrieved in January 2007 from www. home. earthlink. net/~gfeldmeth/lec. indust. html. 4. Wikipedia Staff (2001). Definitions for Perestroika and Glastnost. Retrieved in January 2007 from www. en. wikipedia. org.

Great Gatsby and the American Dream Essay Example for Free

Great Gatsby and the American Dream Essay Dream is a wildly creative and imaginative futuristic story of ones, or another’s life dream. It is the American Dream is one that encompasses the most imaginative story which is what the person desires to have or accomplish in his lifetime. Although all people of all ages have American Dreams, the notion of such a dream is truly impossible because of its wildly imporportionate measures of desire. In the Great Gatsby by F. Scott Fitzgerald, the mysterious Jay Gatsby, had a similar fantasy dream. But, in theory, Jay Gatsby is just as far as any other person in their progress towards their true American Dream. Jay Gatsby, whose dream included of being with the girl of his dream, and being filthy rich. Having that sort of dream was not only impossible but by pursuing his dream, it directly led to his downfall and soon his assassination. The American Dream is a widely known and used notion of a person’s â€Å"dream life†, many try to follow or achieve their goals until they realize it is just plainly impossible. Others realize from the very start that their most wild and extravagant American dreams are just what they are†¦ dreams. But then, people like Jay Gatsby do not give up and fight until the end, this came to be the case literally in the â€Å"Great Gatsby† when Gatsby pursues his dream until the time of his death. The entire notion of the American Dream had captured Gatsby, and his dream soon began to dictate his life, and actions. Throughout the novel, Jay is following this one dream that he truly believes can be his one day. This dream was to become very rich and have Daisy Buchanan as his lover. In fact, he does quite well in progressing in the dream until the point where he combines reality and his fantasy and completely forgets about reality. This notion of the American dream was very much hyped up in the time after World War 1, in the 1920’s called the Jazz Age, and this is just the same time frame that this novel is put in. Since there was many wrong doings and many people trying to accomplish these impossible dreams, the time period gave quite a influence on Gatsby and his actions toward his dreams. The corruption is explained by Diane Telgen even further; â€Å"Fitzgeralds book mirrors the headiness, ambition, despair, and disillusionment of America in the 1920s: its ideals lost behind the trappings of class and material success (Telgen, 2). Although something may be impossible, Gatsby knows he will not stop until he achieves it, but due to this mindset he also begins living in a fantasy where he sees his dream take over his life and reality and influence his actions. Throughout the novel, Fitzgerald both openly and subliminally incorporated symbols to represent Gatsby’s dream and his progress to attain the unattainable. As the reader reads the book he is foreshadowed by these symbols of how the dream for Gatsby is literally out of his reach, and thus will never be able to grab it. Throughout the novel, there are many times where Gatsby is looking out and sees a green light. Since the dream has taken control, he warps a simple light into something magnificently grander in his mind. In the text of the novel Fitzgerald writes, a single green light, minute and faraway, that might have been the end of a dock. †(ch. 1) As seen in this quote, Gatsby has been overwhelmed by his dream and all he sees is his dream. He has even confused the differences between logic and fantasy. because as seen here he, throughout the book, continuously is gazing at this minute green light thinking of it to be his dream and the closeness between him and Daisy. But he of course fails to realize the reality of the scene that it might just simply be the end of a dock, nothing more, nothing less. Not only was Gatsby blinded by such disillusionment between reality and fake, but he strived to achieve his goal by doing whatever he thought was needed for the accomplishment of such a dream. Jay Gatsby was so emotionally and physically attached to his American Dream that he would do absolutely anything to attain such a dream. Jay is willing to not only lie, but to do crime and other horrendous things just for his money and love. While in the Car going to New York City, Jay tells Nick Carraway his life dream, what is not told is that this life dream is late to be recognized as false and a cover up lie for Gatsby to seem better off and richer that what he really is. One of these lies is captured by Richard Lehan; â€Å"These absurd adventures he went on like living like a rajah in the capitols of Europe and collecting rubies and jewels made some question his honesty. † (get real quote not paraphrased one). Also not only did he make up a new life, in order to mpress a simple girl and earn money he was willing to even do crime which is just absurd in today’s society’s eyes. In the time of the 1920’s there were many immoral practices and many immoral practitioners like Gatsby committing crimes and making up his life as he went. In the novel he really is just not willing to give up on his greedy dream. Even to the point of death he kept on thinking to himself that there might still be a chance for him to have Daisy for himself, as his lover one day. The Great Gatsby written by F. Scott Fitzgerald included a twisted plot where the main character Jay Gatsby takes off on an impulse to love Daisy Buchanan and want her and his money. OF course his American Dream was just out of reach and due to such standards for Gatsby it truly led to quarrels between the characters which ended up with Gatsby’s death. Jay Gatsby, whose dream included of being with the girl of his dream, and being filthy rich. Having that sort of dream was not only impossible but by pursuing his dream, it directly led to his downfall and soon his assassination. He was so attached to such a dream he saw simple, everyday objects as signs to him that he is getting closer to Daisy, he also was willing to stoop as low as for a wealthy man to commit crime to earn more money just to impress Daisy Buchanan. He also did not stop there, he made up his own fake life where it lightened up his past for Daisy’s amusement and sticked to that notion until his assassination. Through this novel, it is yet again showed how the notion of the American Dream is just what it is; a notion or a dream, nothing more, nothing less, and nothing attainable.

Analysis of Cement Industry in India

Analysis of Cement Industry in India INTRODUCTION People invest in stocks to make their money grow. And to help investors identify the suitable and the appropriate way to invest, there are various modes of analysis. A number of approaches have been developed over time. One most important analytical approach among them is EIC analysis (E for economy, I for industry and C for company). EIC analysis is also sometimes referred to as Fundamental Analysis or the Top Down approach to Fundamental analysis. . In this approach, the investment decisions are taken on the basis of the strength of the economy, industry and company. The major objective of undergoing a project on EIC analysis or top down approach to fundamental analysis is to answer the question as What to buy. At economy level, fundamental analysis will focus on the economic indicators of the country to assess the present and future growth of the economy. Major economic indicators include the GDP growth rate, inflation, imports, exports, monetary and fiscal policies, foreign exchange reserves, IIP, etc. The basic assumption is that if the economy grows, companies would do well. At the industry level, apart from economy other factors like government attitude, entry barriers, competition level, threat of potential entrants, substitute products, cost structure, foreign entrants, also affect the way an industry evolves in time and hence affects the stock prices of companies in that particular industry. This industry analysis will also include Porters five force model (wherever applicable) which will give a better approach to it. The next task to be done in the project is to identify and analyze two companies i.e. ACC and Ultratech cement Ltd. For that a number of factors will be taken into consideration, say, the companys SWOT analysis and the financials of the company. Thus, on the foundation of some major factors, this EIC analysis will analyze the overall economy, industry and company which will give a clear picture and practical approach of stock identification. The second part of the project is Technical analysis which is a method of evaluating securities by analyzing the statistics generated by market activity, such as past prices and volume. Technical analysis looks at the price movement of a security and uses this data to predict its future price movements. Thus a technical analyst approaches a security from the charts. 2. ECONOMIC ANALYSIS EIC analysis is not just about balance-sheets or analysis of a companys financial performance. It is also crucial to look at the broader picture- the macro-economic factors that may directly or indirectly affect the economy, industry and stocks of the company. Economic Analysis is the First Step in a three step security analysis process. An economic slowdown has implications for the earnings and margins of companies. At economy level, fundamental analysis will focus on the economic indicators of the country to assess the present and future growth of the economy. It aims at analyzing the overall Economy and identifying the general direction, in which the economy is heading. Although there are many macroeconomic indicators that are relevant to markets, given below are some must-track-indicators GROSS DOMESTIC PRODUCT The GDP (Gross Domestic Product) growth rate is the most important macroeconomic indicator of a nations economic health. If the GDP is growing, so will economy, businesses, jobs and personal income. If GDP is slowing down, then businesses will hold off investing in new investments and hiring new employees, waiting to see if the economy will improve. If the GDP growth rate actually turns negative, then it means the economy is in a recession. Thus, on the basis of the GDP data, we can analyze the economy and interpret the future of Indias economy up to some extent. Given below is the data of real GDP growth rate from the year 2006 till the year 2010. In the year 2008, Indias GDP growing at 7.9%, was the lowest in three years and was indicative of slowdown in Indian economy. Recorded for the months of April-June 2008, Indias economic growth rate was 7.9% which was less than what it was at the same time last year. The economy had expanded by 7.6 per cent in the July to September quarter of 2008. Indias economic growth slowed to just 5.3 per cent in the last three months of 2008, its slowest pace of expansion in the last six years, as the global financial crisis took its toll on local manufacturers and farm output fell. The International Monetary Fund has forecast Indias economy to grow at 6.75 percent in 2009-10 and 8 percent in 2011-12 on the back of an expected pick-up in private consumption and investment. Indian economy grew 8.6 percent from January to March of 2010, keeping in line with governmental projections. During the quarter, mining and quarrying, manufacturing and trade, hotel, transport and communication saw year-on-year growth of 14 percent, 16.3 percent and 12.4 percent. The country strives to attain 8.5 percent growth of GDP in fiscal year 2010-2011 with the aim of realizing 9 percent growth in the following year. INFLATION Inflation is no stranger to the Indian economy. It is an increase in the price of a basket of goods and services that is representative of the economy as a whole. Inflation is an upward movement in the average level of prices. Because inflation is a rise in the general level of prices, it is intrinsically linked to money. It denotes too much money chasing too few goods. High rates of inflation can have critical effects on economy. It is characterized by depreciation in the value of money. Economists attribute a number of factors to inflation that can be broadly categorized under supply side factors like increased production costs and demand side factors like excessive demand created by tax cuts, cheaper borrowings etc. High rates of inflation can have serious consequences for the economy in general. Therefore, for governments all over the world, reducing movements of prices to a minimum is seen as a primary economic objective. The above effects can be exemplified by taking the current scenario of the Indian economy. Annual Inflation in India in May 2008 was 7.4% which was the highest since November 2004. As a result Industrial production growth declined to 8.6 % in February 2008 as compared to 11 % in February 2007. Thus, high inflationary rate is harmful because the value of the money falls, cost of living rises, reduces the value of savings, discourages future investment and savings and slows down the overall growth of the economy. The Indias economic story can be traced by seeing the general trend of inflation rate in the year 2008. In the Year 2008, RBI had revised its key rates several times to maintain the liquidity in the banking system. The lower interest rates will allow the banks to cut their benchmark lending rates, though the deposits will also see the reduction in interest rates. Lower commodity prices and crude oil prices is driving the Inflation on a downside. This will be wonderful as the lower inflation means, lower cost of credit, which drives the economy on the upside. For 2009, Indian inflation stood at 11.49% Y-o-Y. On March 19, 2010, the Reserve Bank of India raised its benchmark reverse repurchase rate to 3.5% percent, after this rate touched record lows of 3.25%. The repurchase rate was raised to 5% from 4.75% as well, in an attempt to curb Indian inflation. The inflation rate in India was 13.73 percent in June of 2010. This is because of the prices of pulses were up by 34.40 per cent from a year ago, milk by 21.12 per cent, fruits by 13.67 per cent, cereals by 5.41 per cent, rice by 6.76 per cent and wheat by 3.97 per cent. On 19th august, cheaper vegetables pull down inflation to 10.35%. UNEMPLOYMENT RATE India has been facing huge problem of unemployment and underemployment from years. Unemployment is much higher in urban areas than in rural areas and too women face the unemployment more. Various problems like enormous increase in the population, age, vocational unfitness and physical disabilities, technological and economic factors have caused this problem. Other problems also contribute towards unemployment. Several socio-economic problems like poverty, malnutrition, antisocial and criminal activities, drug and substance abuse, etc. are the result of ill effects of unemployment. Underemployment, Disguised unemployment, regional imbalances in the unemployment scenario in India are another important factor. The decline in job creation in agriculture has been identified as one of the important reasons behind the increasing unemployment in India. But players like TCS, BSNL WIPRO have announced their plan to hire more and more people in 2010. IMPORTS Indias merchandise imports witnessed a growth of 44.9 per cent during April-September 2008, and thereafter it showed a deceleration, reflecting the slowdown in industrial activities due to global economic crisis. The overall imports during April 2008-January 2009 at US$ 241.5 billion, recorded a lower growth of 24.4 per cent than 30.9 per cent recorded a year ago. POL imports during April 2008-January 2009 at US$ 82.1 billion, however, maintained broadly a similar growth of 30.6 per cent (31.9 per cent a year ago) reflecting the high pace of crude oil prices. Imports during January 2009 at US$ 18.5 billion also declined by 18.2 per cent for the first time during the current year 2008-09 so far, as against an increase of 64.0 per cent in January 2008, mainly due to sharp decline in oil imports. The overall imports during April 2008-January 2009 at US$ 241.5 billion, showed a growth of 24.4 per cent lower than that registered during the comparable period of previous year (31.0 per cent ) on account of deceleration in both oil and non-oil imports. Indias imports during March, 2010 were valued at US $ 27733 million (Rs.126175  Ãƒâ€šÃ‚  crore) representing a growth of   67.1 per cent in dollar terms (48.4   per cent in Rupee terms)   over the level of imports valued at US $ 16597 million ( Rs. 85022 crore) in March, 2009. Oil imports during March, 2010 were valued at US $ 7730 million which was 85.2   per cent higher than oil imports valued at US $   4175 million in the corresponding period last year.  Ãƒâ€šÃ‚  Non-oil imports during March, 2010 were estimated at US $ 20003 million which was 61.0 per cent higher than non-oil imports of US $ 12422 million in March, 2009. EXPORTS Indias merchandise exports, after recording a steady growth of 35.3 per cent during April-August 2008, declined in all the subsequent months so far, during the current year, viz., (-12.1 per cent in October), (-9.9 per cent in November), (-1.1 per cent in December) and (-15.9 per cent in January 2009) on account of global financial turmoil and economic slowdown. With the result, the overall exports during April 2008-January 2009 at US$143 billion increased by 12.4 per cent as compared with 24.1 per cent during the corresponding period of the previous year. Exports of labor intensive sectors such as, textiles, gems and jewelers, agricultural and allied products, ores and minerals, leather products have registered decelerated growth as these sectors have been adversely affected under the impact of demand recession, mainly in the developed regions, viz., the US and the EU. Exports in2009- 2010 is 90573 crore as compared to 66169 crore in 2008-09, hence showing a growth of 36.9%. EXCHANGE RATE Since the international business environment has no universal medium of exchange, exchange rates is a necessity for international trade. Presently, both translation and conversion of foreign currency involve the use of exchange rates. Therefore, in order to gain a more through understanding of foreign currency translation, it is important to examine the nature of exchange rates and the critical role they play in the international economy. The recent Asian currency crisis demonstrates how critically exchange rates impact economic developments. Economic factors affecting exchange rates include hedging activities, interest rates, inflationary pressures, trade imbalances, and market activities. The political factors influencing exchange rates include the established monetary policy along with government action or inaction on items such as the money supply, inflation, taxes, and deficit financing. Psychological factors also influence exchange rates. These factors include market anticipation, speculative pressures, and future expectations. MONETARY AND FISCAL POLICY Fiscal Policy Riding on the path of fiscal consolidation, in February 2008, the world economy was hit by three unprecedented crises first, the petroleum price rise; second, rise in prices of other commodities; and third, the breakdown of the financial system. The combined effect of these crises of these orders is bound to affect emerging market economies and India was no exception. The first two crises resulted in serious inflationary pressure in the first half of 2008-09. Series of fiscal measures both on tax revenue and expenditure side were undertaken with the objective of easing supply side constraints. These measures were supplemented by monetary initiatives through policy rate changes by the Reserve Bank of India and contributed to the softening of domestic prices. Additional budgetary resources of Rs.1, 50,320 crore was provided as part of stimulus package and various committed liabilities of Government including rising subsidy requirement, implementation of Central Sixth Pay Commission recommendations and Agriculture Debt Waiver and Debt Relief Scheme for Farmers contributed to the higher fiscal deficit of 6 per cent of GDP in RE 2008-09 as compared to 2.5 per cent of GDP in B.E.2008-09. The measures taken by Government to counter the effects of the global meltdown on the Indian economy, have resulted in a short fall in revenues and substantial increases in government expenditures, leading to a temporary deviation from the fiscal consolidation path mandated under the FRBM Act during 2008-09 and 2009-2010. The fiscal policy for the year 2009-2010 is continued to be guided by the objectives of keeping the economy on the higher growth trajectory amidst global slowdown by creating demand through increased public expenditure in identified sectors. Monetary policy India has rapidly integrated into the global system and has linkages with the rest of the world not just through trade channels, but also through two-way movements of capital and finance. As an integral part of a globalizing world, India cannot be expected to remain immune to a global crisis and in responding to the crisis, India has to share the uncertainty on the way forward just like the rest of the world. Both the Government and the Reserve Bank have acted to protect the economy from the adverse impact of the crisis since mid-September 2008. While the Government has announced three major fiscal stimulus packages, the endeavor of the Reserve Bank has been to provide ample rupee liquidity, ensure comfortable dollar liquidity and maintain a monetary policy environment conducive for the continued flow of credit to productive sectors. Towards this endeavor, the Reserve Bank has adopted both conventional measures such as, for example, reduction of the cash reserve ratio (CRR), as well as unconventional measures such as, for example, the dollar swap facility for banks. To improve the flow of credit to productive sectors at viable costs so as to sustain the growth momentum, the Reserve Bank signaled a lowering of the interest rate structure by significantly reducing both its key policy rates the repo rate and the reverse repo rate.   The statutory liquidity ratio (SLR) has also been reduced by one percentage point releasing funds to banks for credit deployment. In the space of just one quarter, the repo rate has been reduced from 9.0 per cent to 5.5 per cent and the reverse repo rate from 6.0 per cent to 4.0 per cent, thereby bringing down both of them to historically lowest levels. The Reserve Bank of India lowered its benchmark repurchase rate to 7.5 percent from 8 percent. At the same time the central bank also reduced the cash reserve ratio to 5.5 percent from 6.5 percent, and cut the amount of money lenders are required to keep in government bonds to 24 percent from 25 percent. But the measures taken by government and the Reserve Bank will continue to maintain vigil, monitor domestic and global developments, and restore the economy to its potential growth path. INDUSTRY ANALYSIS INDUSTRY SNAPSHOT The Indian Cement Industry with a capacity of around 125 Million Ton Per Annum (MTPA) is the fourth largest in the world after China, Japan and USA. However, the per capita consumption in the country is only around 90 kgs as compared to the world average of approx. 250 kgs. The Cement Industry is highly fragmented comprising of more than 50 players operating from more than 125 plants. The Cement Industry is cyclical and capital intensive. Cement is a key infrastructure industry. It has been decontrolled from price and distribution on 1st March, 1989 and delicensed on 25th July, 1991. However, the performance of the industry and prices of cement are monitored regularly. The constraints faced by the industry are reviewed in the Infrastructure Coordination Committee meetings held in the Cabinet Secretariat under the Chairmanship of Secretary (Coordination). Its performance is also reviewed by the Cabinet Committee on Infrastructure. The Cement Industry witnessed a slow start in the FY 2005 due to change in the Government at the centre; slow down in infrastructure spending during the transition and adversities of drought like conditions in the South and West. The subsequent regaining of momentum enabled the industry clock a dispatch growth of 7% for the full year. The Cement sector appears to be on a sustainable growth path, given the strong outlook for the housing sector and the renewed momentum in infrastructure spending. The Cement sector appears to be on a sustainable growth path, given the robust outlook in Government infrastructure spending. It is expected that the industry would grow at an average 8% annual growth in the long run. The industry has witnessed consolidation in the recent years which is likely to increase with the entry of global players. Cement being an energy intensive industry; power and coal are the major cost contributors. Logistics also form a significant portion of the cost. The looming coal shortage will not only affect the cost, but also the quality of coal. Cement prices are expected to firm up across regions in the medium term on account of a better demand- supply balance and greater consolidation. The induction of advanced technology has helped the industry immensely to conserve energy and fuel and to save materials substantially. India is also producing different varieties of cement like Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Portland Blast Furnace Slag Cement (PBFS), Oil Well Cement, Rapid Hardening Portland Cement, Sulphate Resisting Portland Cement, White Cement etc. GROWTH PROSPECT The one Indian industry which is set for growth over the coming years is the Cement Industry. The industry is heavily dependent on 3 sectors; coal, power and transport. Energy and freight are the two major cost components. Over the last few years, while the proportion of energy cost has increased marginally, freight costs have declined. Increasing government expenditure on infrastructure sector and rising demand for commercial and residential real estate development has resulted in higher demand for cement in the country. According to a report by the ICRA Industry Monitor, the installed cement capacity is expected to increase to 241 million tones per annum by the end of 2010. It also expects that driven by higher domestic demand and increasing utilization, Indias cement industry may record an annual growth of 10% over the coming years. Taking cue of the global economic slowdown which was affecting cement companies in India last year, Governments initiative to re-impose counter-veiling duty and special counter-veiling duty this year will help provide a level playing field for domestic players. Moreover, it also appointed a coal regulator to facilitate timely and proper allocation of coal blocks to the important sectors like cement. As coal is one of the prime raw material used in cement production, this seems to be a positive move. Growth potential of cement industry can be judged by the fact that the per capita cement consumption (156 kg) in India is still well below the global average consumption (396 kg). This gap can be expected to be covered in the coming years. Besides, housing sector accounts for almost 50% of the total cement consumption in the country and the large young population will ensure that the demand for infrastructure stays put. The rising cost of energy, transportation raw material continues to pressure the industry as a whole. To sustain profitability, companies will have to explore alternate source of energy while at the same time enhance their operational efficiency. Industry experts opine that the cement industries should now increase their focus on investing adequately in developing human resources that will be capable enough to address the professional needs of construction industry including advanced technologies and construction practices, project management construction and litigation. We expect that the cement production and consumption both will grow substantially over the years. PORTERS FIVE FORCES MODEL Rivalry among Competing Firms Inter firm rivalry is very high in this sector. Reasons for this are manly large number of players in the market, intermittent overcapacity, marginal product differentiation, high storage cost and high exit barriers in the form of huge capital investment. Potential Entry of New Competitors In cement Industry technology and manpower are easily available but still entry of new firms is not that viable. This is because of huge capital investment, broad distribution network and oversupplied market. Potential Development of Substitute Products Only bitumen in road and engineering plastics in building offer some element of competition otherwise no close substitutes are popular in India. Bargaining Power of Suppliers The bargaining power of suppliers of raw materials and intermediate goods is very high. Because of monopolistic control of external cost elements i.e. coal, power, transportation and taxes suppliers are enjoying high bargaining power with the government. Bargaining Power of Consumers Rising share of retail purchase, declining share of bulk purchase by government has taken away the bargaining power of customers. SWOT ANALYSIS Strengths Second largest in terms of capacity- In India there is approximately 124 large and 300 mini plants with installed capacity of 200 million tonnes. Low cost of production- Because of easy availability of raw material and cheap labor. Weakness Demand supply gap, overcapacity- the capacity additions distort the demand supply equilibrium in the industry thus affecting the profitability. Increasing cost of production due to increase in coal prices. High interest rate on housing- increase in interest rate from 7% to 12% has resulted in slowdown in residential property market. Opportunities Increase in infrastructure projects- Infrastructure accounts for 35% of cement consumption in India. And with increase in government focus on infrastructure spending such as roads, highways and airports, the cement demand is likely to grow in future. Growing middle class- There has been a increase in purchasing power of emerging middle class with rise in salary and wages, which results in rising demand for better quality of life that further necessitates infrastructure development and hence increase yhe demand for cement. Technological changes- At present 93% of the total capacity in industry is based on modern and environmental friendly dry process and only 7% is based on old wet and semi dry process technology. The induction of advanced technology has helped the industry immensely to conserve energy and to save materials substantially and hence reduce the cost of production. Threats Excess overcapacity can hurt margins as well as prices. COMPANY ANALYSIS ACC LIMITED Established in 1936, has been a pioneer and trend setter in cement and concrete technology. A prominent overseas presence and figuring on the elite list of consumer super brands of India but most importantly acc has been amongst the first Indian companies to make environment protection as cornerstone of its corporate objectives. The historic merger of ten existing companies has led to the established of acc- melding into a cohesive organization in 1936. It offers the services of ready made concrete and consultancy services. This company is listed by Bombay stock exchange, National stock exchange and in London. During year 2007 company acquired 100% equity stake in Lucky Minmat Private limited for Rs 35 crores and also acquired 43% stake in Shiva Cement Limited. Meanwhile the company divested its entire equity shares in Almatis ACC limited to the Almatis group. The overseas contact with YANBU Cement Company in the kingdom of Saudi Arabia is successfully ongoing relationship from last 28 years and has been renewed up to Feb 28, 2011. The companys various manufacturing units are backed by a central technology support services centre the only one of its kind in the Indian cement industry. ACC has rich experience in mining, being the largest user of limestone. As the largest cement producer in India, it is one of the biggest customers of the domestic coal industry, of Indian Railways, and a considerable user of the countrys road transport network services for inward and outward movement of materials and products. The company has developed comprehensive expansion plans to meet the requirement of its agenda for growth with a view to attain leadership position in the cement industry, for that company made a project for augmentation of clinkering and cement grinding. Also it implements projects for augmenting grinding capacity at Madukkaria by 0.225 MTPA and New Wadi at 0.60 MTPA. Ready mix concrete business has been identified as area of strategic priority. ACC commissioned a Wind Energy Farm in Tamil Nadu to promote clean and green technology. The company foresees substantial scope for growth of this business in India. The company actively promotes the use of alternative fuels and raw materials and offers total solutions for waste management including testing, suggestions for reuse, recycling and co-processing. When we look at the values that are obtained using the DCF and the stock prices we can say that the prices of the companies stock are mispriced to a large extent. The intrinsic values for four consecutive years turned out to be negative which means that the shares are highly over priced. The investments in these stocks are very risky. ULTRATECH CEMENT Ultratech Cement Limited (UltraTech) is India-based one of the largest cement manufacturing company. UltraTech Cement was incorporated as a public limited company on 24th August 2000, as LT Cement Limited a 100% Subsidiary of Larsen Toubro Limited. The name of the Company was changed to UltraTech CemCo Limited with effect from 19th November 2003. The name of the company was again changed to UltraTech Cement Limited with effect from 11th October 2004. UltraTech Cement has an annual capacity of 18.2 million tones. It manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement. It also manufactures ready mix concrete (RMC). The company has five integrated plants, six grinding units and three terminals- two in India and one in Sri Lanka. It is the countrys largest exporter of cement clinker. The export marketspan countries around the Indian Ocean, Africa, Europe and the Middle East. The company has an annual cement production capacity of 18.2 million tones. It is a subsidiary of Grasim Industries Ltd. The company operates two subsidiary companies namely, Dakshin Cement Limited and UltraTech Ceylinco (P) Limited. The company is headquartering at Mumbai in India. The company reported revenues of (Rupee) INR 66,643.30 million during the fiscal year ended March 2009, an increase of 16.43% over 2008. The operating profit of the company was INR 13,678.20 million during the fiscal year 2009, a decrease of 9.73% from 2008. The net profit of the company was INR 9,780.60 million during the fiscal year 2009, a decrease of 3.17% from 2008. According to the analysis done by DCF model the value of the share are 1403.89. five year daily data has been taken for the analysis. RISK ANALYSIS A risk analysis involves identifying the most probable threats to an organization and analyzing the related vulnerabilities of the organization to these threats. In quantitative risk analysis, an attempt is made to numerically determine the probabilities of various adverse events and the likely extent of the losses if a particular event takes place. Qualitative risk analysis, which is used more often, does not involve numerical probabilities or predictions of loss. Instead, the qualitative method involves defining the various threats, determining the extent of vulnerabilities and devising countermeasures should an attack occur. NOTE: The values given in the above tables are calculated for the daily data taken for a period of 5 years for both the companies and the BSE Index (1st January 2006 31st January 2010) ANALYSIS: From the values in the average return, variance and standard deviation we can understand that the return in cement industry was negative for an investor who invested his money in those stocks for that particular period. The risk associated with Ultratech company stock is very high as it has very high standard deviation and variance when compared to the other company ACC Cement. The standard deviation and variance of Ultratech stock are greater than that of Index. Risk Analysis: To analyze the risk associated with a stock we have calculated 3 parameters. Beta, Sharpe and Treynor à ¯Ã‚ Ã‚ ¢ (Beta) Co-efficient (A Measure of Systematic Risk): The beta is a measure of systematic risk or Non-diversifiable risk. The beta of a stock measures the sensitivity or volatility of the stock with reference to a broad based market index, e.g. SENSEX in India. Sharpes Measure of Performance: Sharpe Measure measures the risk Premiums of the portfolio (average portfolio return less risk free return) relative to the total amount of risk in the portfolio (standard deviation of the portfolio). It is also called reward-to-variability ratio. The Sharpe ratio tells us whether a portfolios returns  are due to smart investment decisions or a result of excess risk. The higher the Sharpe ratio for a portfolio, the better the portfolio has performed. Treynors Measure of Performance: The Treynor measure is a relative measure of performance for investment managers and measures the return premium per unit of systematic risk (risk that cannot be diversified) as measured by the beta or relative volatility of the portfolio. While a high and positive Treynors Index shows a superior risk-adjusted performance of a fund, a low and negative Treynors Index is an indication of unfavorable performance. It is also called reward-to-volatility ratio. Analysis: Rf: The risk free return taken is a government treasury bill which has a return of 8% per annum. When we compare the movemen

Illusion of the American Dream in Death of a Salesman and The Glass Men

The American Dream is what all Americans strive to achieve. It is the illusion of prosperity and happiness. The American Dream consists of three different elements, money, sex, and power. The plays â€Å"Death of a Salesman† and â€Å"The Glass Menagerie† are about families who strive to achieve the American Dream. These plays are a lot alike and they have more similarities than differences. In America, money can get you many places in society. In both plays, money plays an essential element. In â€Å"The Glass Menagerie,† Amanda is always concerned about Laura getting a job or marrying someone whom can support her. When Amanda realizes that Laura quit going to business school, she becomes very distressed. â€Å"What are we going to do, what is going to become of us, what is the future?† They did not have a father, or someone to support them; therefore, Amanda did not know what to expect in the future. The relevancy of money is also apparent in â€Å"Death of a Salesman.† Willy believes that he and his sons are great men who can be successful in the business world. Linda, Willy’s wife, says, â€Å"Willy L...

Vegetarian Essay -- Healthy Lifestyle Essay

Vegetarians Growth problems. Animal population problems. Disease. These are all problems caused by being a vegetarian, that is, one who only eats vegetables. There are different degrees of being a vegetarian. To one extreme, is a person who eats nothing associated with animals (no yogurt, ice-cream, or even anything that has come in contact with meat or another animal). The opposite are those who just eat vegan most of the time and will still eat animal bi-products. Then there are others who are in between. Being a vegetarian is not natural. Since the beginning of time, humans have been consuming animals. A vegetarians diet lacks energy, calcium, zinc, and vitamins (B-12 and D). Without supplements, severe medical problems can arise. Also, those supplements are usually man made and do not require some of substances, still un-identified, in meat. A carnivorous diet has always been in American history. Turkey is eaten on Thanksgiving, not Tofu Surprise. Fish on Fridays, not salad. Pop and son would go hunting in the winter for fresh game to eat, they wouldn’t go picking berries and roots. Those who could not or would not eat meat did not survive. Studies have been done by M. J. Lentze, a German who found that vegetarianism causes impaired growth in children five years or younger. Vegan children even fail to grow as well with supplements that exceed the Recommended Daily Allowance. It is true that many vegetables contain a high amount of protein...

Factors That Influence Human Development Essay

In our day and time, socioeconomic status, cultural context, and ethnicity play a huge role in human development. Human development begins while in the womb and at birth and continues through life heavily depending on these particular factors. These factors determine how a person communicates, works, looks, and chooses to live their daily lives. People are individuals and therefore, are all different people and will develop in different ways all depending on the influence of these three things in their lives. The first factor that influences human development is a person’s socioeconomic status. This indicates a person’s position in society as determined by income, wealth, occupation, education, and place of residence. As a child, socioeconomic status has a big effect on the way a child is raised and the opportunities available to him/her. Children that come from high socioeconomic status families typically are more successful because they have more resources readily available to their children. They are able to afford high-quality childcare, education, and healthcare. Read more: Explain how children and young peoples development is influenced by a range of personal factors essay Their children are also typically more involved in recreational sports and extra-curricular activities broadening their children’s horizons and talents. Children that are raised in low socioeconomic families lack the financial, educational, and social support that would make them feel equal to children from higher social standing families. These feelings of unease and not fitting in can lead to low confidence and low motivation. Children have to live with these feelings and the circumstances they were born into until they become adults and can make their own livings. Anyone is capable of overcoming his or her circumstances! When children grow up, they get to decide how far they want to take their education and what type of career field they want to go into as well as where and how they will choose to fit into modern day society. Cultural context is also a large factor that shapes a person’s development. Culture is defined as the characteristics of a particular group of people, defined by everything from language, religion, cuisine, social habits, music, and arts. Culture affects the way we dress, what we eat, what we believe, and even the way we think about life and make decisions. I think that culture is beginning to play a larger role in development as our country begins to grow exponentially with the number or foreign immigrants making this nation their home. Different cultures are beginning to merge together making their heritage and beliefs that much more important in the hearts of their people as they grow and develop into adults. For example, a Muslim or Hindu individual will celebrate certain holidays very differently than a Catholic or Christian individual. A person’s cultural beliefs and traditions have an affect on their everyday lives, and those things will be passed down through generations. One example of a culturally taught idea here in America is the typical â€Å"American Dream† that we, as American children, have been taught through childhood and youth. From an early age, we were taught and told that with hard work, determination, and never giving up on a dream, our opportunities would be endless. Culture is another huge factor on human development. According to the textbook, there is some confusion regarding the differences between race and ethnicity. Ethnicity or an ethnic group is defined as a people whose ancestors were born in the same region and who often share a language, culture, and religion. Race is defined as a group of people who are regarded by themselves or by others as distinct from other groups on the bases of physical appearance. Race can definitely be a misleading concept though. I think ethnicity and culture are very different things, but definitely go hand in hand pertaining to human development. Each human being is their own individual person, therefore, will grow and develop differently. Being a part of an ethnic group can have a very positive influence on a child or an adult by giving them a sense of belonging and identity; it helps them to discover and understand who they are and where they come from. It can also present negative consequences such as creating divisions between different groups of people which have caused discrimination and prejudice which in our history has unfortunately led to conflict and in extreme cases, war. All three of theses areas influence a person’s physical, cognitive, and social development in different ways. Explain why researchers interested in human development study different cultures. Give an example of a research question that would benefit from a multicultural comparison. This question can greatly be connected to the following one. Cultural tendencies are a huge factor in human development, so to get an accurate study regarding development; it would have to be a cross-cultural study. If you were questioning the correlation between height and weight of children from higher socioeconomic families versus children from lower socio economic families testing the theory that a major cause of malnutrition and low growth rate is family income and status, you would have to test your theory in different parts of the world and in different people groups. Things that would need to be considered are different styles of cooking and the way that certain people eat as well as amount of physical activity. For example, children in Africa whose job it is to work in the fields or help their family out doing some form of chores that most likely is outside and involves laborious activity are going to naturally get more physical exercise in their everyday lives that American children who sit in a classroom and then go home to play video games and maybe play an occasional game outside. Children raised in America definitely live a more sedentary lifestyle than most other people groups, and that is something to take into consideration when looking at things such as height and weight that ride on factors such as physical activity and activity level. This is the reason for researchers and psychologists that are interested in studying different cultures to get accurate answers to these questions regarding human development. Since culture, race, and ethnicity play such a huge role in development, it is necessary to study different types of people to make these assumptions. Review information related to Figure 1. 2 (Ecological Model). Explain your own development from a social, physical, and cognitive perspective from this model using at least three of the Five Characteristics of Development (page 11). This model illustrates the social, physical, and cognitive development of a person through these five different characteristics of development. The five systems are the Microsystems, exosystems, macrosystems, mesosystems, and the chronosystem. This model was created by Urie Bronfenbrenner to show how each person is significantly affected by interactions among a number of these overlapping systems. The microsystem seems to be the most critical in my personal opinion; they intimately and immediately shape development. Personally, the examples given in the model are the most important areas or things that mean the most to me as a person, and I would definitely say they are the things that have made me who I am today. My family, friends, and my faith are the most important things in my life and certainly have shaped my life. I was raised in a strong Christian family with two loving parents who support me in everything that I do. My faith is the cornerstone and foundation of who I am, and is my basis for decisions I make and the way I choose in which to live my life and the people I choose to surround myself with. I have an incredible group of friends that keep me grounded and sometimes I feel like they know me better than I know myself. These things that are included in the microsystem of development have certainly been heavyweights as I have developed into the woman I am today. The next system illustrated in this model is called the exosystem, which include external networks such as community, mass media, school/educational settings, and medical institutions that influence the inner circle of the microsystem. Personally, these areas definitely carry weight, especially in such a generation and society that is led by social networking and the media/entertainment industry. Facebook, Twitter, Instagram, and all of the other social networking sites drive this generation, so I believe this system has a large impact on development. As far as schooling, since I am deciding to go back to school to aim for a master’s degree in nursing, this plays a huge role in my life and development. I spend large amounts of time focusing all of my attention on schoolwork and reading to further my education. The third area I feel like has had a large impact on my personal development and life itself is the macrosystem, which influences all of the other systems and includes cultural values, political philosophies, economic patterns, and social conditions. I think the one of these areas that has personally had the most influence on me is the social conditions. Being socially aware and socially open to meeting new people and being able to learn new ways to engage others at the college age level is crucial. When our high school group of friends breaks up and moves away to take on new endeavors of their own, you have to be able to adjust and meet new people, and I feel as if that is an area I have done really well in. I love to meet new people, and I think the reason for that is the social foundation that I already had established from growing up in an environment and around people who made me feel comfortable and established self-confidence and self-worth in me. These are the areas in which I feel like have greatly influenced my personal physical, cognitive, and social development.

Juvenile delinquent Essay

In today’s society more and more juvenile delinquents are being charged as adults in the court systems. The youth are being condemned by a society that allows fear to control its decisions. In the film Juvies narrated by actor Mark Wahlberg, a former juvenile offender, the lives of a group of young kids who are sentenced for many years or life are told. Throughout the film the group explains why they did what they did and how they wished they could have done it differently. One of the kids, a fourteen year old by the name of Anait, was sentenced for seven years. She had driven a group of boys to a high school where they then fought and killed another boy. Anait was charged with accessory to murder because she was the one that was driving the car. Another kid by the name of Duc was sentenced for 35 years, at the age of 16. He had no prior record, wasn’t a gang member but he was affiliated with a gang. He had driven a car that took part in a shooting, and even though no o ne was injured he was still found guilty. I feel, as do many others, that our court system has become much too harsh when it comes to punishing the youth. There is a difference when being tough on crime and giving kids punishments that do not fit the crime. More and more of today’s youth are being sent to adult prisons where they cannot be protected. In a juvenile prison, kids are given second chances. There they learn to right their ways and are sent back out in society where hopefully they will become responsible adults. In adult prisons however, its survival of the fittest. There is no protection for those kids and no one to guide them on the right path. Statistics show that kids sentenced to adult prisons are more likely to end up back behind bars within five years of being released or committing suicide. The media plays a big part in condemning these children. The media has demonized them and the crimes that they commit. Court systems have started to charge more for what could have happened rather than what did happen. Duc is an example of this. He was charged for a crime that wasn’t committed but could have been. Children should not be tried as adults because they cannot think as adults do. Science shows that a person’s brain is not fully developed until their early twenties. The cortex is still developing and this is the part of the brain that controls emotions and impulse. This is why children are more likely to get hotheaded more easily than if they were adults. If a child is not taught how to control his/her emotions than when they become adults these emotions will become harder to manage. Charging young children as adults does more harm than good. Some people feel that if you are going to commit crimes of an adult than you should be charged as an adult. However, a child does not think like an adult nor do they know how to relieve their emotions is a healthy non destructive way. People like Gregory Boyle, Geoffrey Canada, and Aaron Kipnis want to help these kids rather than convict them for the rest of their lives. Children need guidance from responsible adults, especially men. Many boys end up in prison because they never had a dependable male role model in their lives. They don’t feel wanted or accepted, so they find it by other means. They look to gangs to feel like they belong somewhere. There are other approaches that do not involve scaring kids with the threat of prison or punishing them for years. One of these approaches is restorative justice. Offenders are forced to take responsibility for what they have done. Not only do they have to confront their issues but they also get help. Another approach is guiding boys on the pathway to becoming a man. These are just some ways in which to save these boys from destroying their lives. There are so many children, both boys and girls that need help. They need friends, family, love, hope, and trust. They need someone that they can look up to and have faith in. Someone who they know won’t hurt them or throw them to the side when they make mistakes. With both discipline and direction, children from bad backgrounds can grow up and live crime free lives.

Degree Level in Nursing Versus the Baccalaureate

The Associate-Degree Level in Nursing Versus the Baccalaureate-Degree Level in Nursing The Associate-Degree Level of Nursing Versus the Baccalaureate-Degree Level in Nursing Multiple pathways exist today for an individual deciding to seek a career in the nursing profession. It can be intimidating to an individual trying to decipher the various educational programs and the relationship of each program to the future nursing practice (Creasia, J. L. & Friberg, E. , 2011). Programs at all levels provide these multiple pathways that can lead an individual to one or more nursing credentials (Creasia, J. L. & Friberg, E. , 2011).The historical overview of the various programs available can help in building a greater understanding of the factors that are influencing nursing education (Creasia, J. L. & Friberg, E. , 2011). The associate-degree and the baccalaureate-degree levels of nursing both provide contributions towards the contemporary health care system, advancement of the nursing profe ssion, and promotion of a profession dedicated to lifelong learning. In 1965, the educational entry point into the professional practice of nursing was designated to be the baccalaureate degree by the American Nurses Association (ANA) (Creasia, J. L. & Friberg, E. 2011). Three educational pathways for the registered nurse (RN) still exist more than 45 years later. These educational pathways include the diploma programs, associate degree, and baccalaureate. For an individual trying to choose the best pathway to enter the nursing profession, it can be confusing with the existence of the various program types that still exist today. Associate-Degree Level of Nursing In 1952, the Associate Degree in Nursing was designed by Mildred Montag in to assist in the shortage of nurses caused by World War II. These programs were an alternative to the collegiate preparation of technical nurses (Creasia, J. L. amp; Friberg, E. , 2011). A pilot project funded by the W. K. Kellogg Foundation in 1958 successfully led to a large increase in the numbers of associate degree programs in the United States (Creasia, J. L. & Friberg, E. , 2011). Community colleges started offering the associate degree programs, along with four-year colleges and the universities. By 1973, approximately 600 associate degree programs existed in the United States (Creasia, J. L. & Friberg, E. , 2011). Nearly 1,000 state-approved associate-degree nursing programs now exist today according to the National League for Nursing Accrediting Commission (NLNAC) (Creasia, J.L. & Friberg, E. , 2011). Out of these 1,000 programs, 652 of them are accredited (Creasia, J. L. & Friberg, E. , 2011). Designed to be two years in length, the associate degree programs provide academic credit and consist of a balance between general education and courses in clinical nursing (Creasia, J. L. & Friberg, E. , 2011). The purposes of the ADN programs are to prepare competent technical bedside nurses for care settings that included co mmunity hospitals and long-term health-care facilities (Creasia, J. L. & Friberg, E. , 2011).The intent Montag had towards associate degrees was that the ADN nurse would work under the direction of a baccalaureate level registered professional (Creasia, J. L. & Friberg, E. , 2011). This caused some confusion about the roles and relationships among the levels of nursing. According to the Maricopa Community Colleges in Arizona, their Associate in Applied Science (AAS) Degree in Nursing programs educate the registered nurse (RN) as a generalist who provides health care to clients and family groups. Their competencies relate to the art and science of nursing (Maricopa Community Colleges, 2011).Graduates from the Maricopa Community Colleges are able to utilizing therapeutic communication and caring to create an environment that achieves desired client outcomes, demonstrate verbal, behavior, and written communication skills that are effective with health team member, and can care to a div erse population because they are culturally competent (Maricopa Community Colleges, 2011). They gain competencies to be able to utilize research and recommend evidence-based nursing care to meet individualized needs across the care continuum (Maricopa Community Colleges, 2011).An ADN RN can demonstrate coordination of nursing care for multiple clients in collaboration with health team members (Maricopa Community Colleges, 2011). They demonstrate legal and ethical behaviors in all nursing activities, along with behaviors that promote the image and integrity of the nursing profession (Maricopa Community Colleges, 2011). The ADN RN will competently apply the nursing process to provide safe client care and produce positive client outcomes through the use of teaching and learning activities (Maricopa Community Colleges, 2011).Maricopa Community Colleges nursing programs allow the RN to be able to safely provide evidence-based clinically competent care within the current healthcare enviro nment by applying clinical reasoning and scientific principles (Maricopa Community Colleges, 2011). Last, but not least, the ADN graduate can demonstrate accountability for quality improvement in the health care system and provide safe, effective client care by integrating technology (Maricopa Community Colleges, 2011).Graduates of the AAS Degree in Nursing programs are provided with an educational foundation for delivery into the university setting (Maricopa Community Colleges, 2011). I am an ADN graduate from the Maricopa Community Colleges. Baccalaureate-Degree Level of Nursing The University of Michigan established the first baccalaureate of science in nursing program in the United States in 1909 (Creasia, J. L. & Friberg, E. , 2011). Baccalaureate programs consisted of five years of education until the mid-1950s (Creasia, J. L. & Friberg, E. 2011). Today, most baccalaureate programs are now four years in length (Creasia, J. L. & Friberg, E. , 2011). Compared to the ADN graduate s who are educated as generalists delivering health care to clients and family groups and their competencies are related to the art and science of nursing, baccalaureate graduates are â€Å"prepared as generalists to practice nursing in beginning leadership positions in a variety of settings† (Creasia, J. L. & Friberg, E. , 2011). Several components are essential to prepare nurses for this complex role.Quality and patient safety, liberal education, information management, evidence-based practice, communication/collaboration, health care policy and finance, professional values, and clinical prevention/population health are all essential components for all baccalaureate programs (Creasia, J. L. & Friberg, E. , 2011). According to Grand Canyon University College of Nursing’s philosophy, â€Å"the nursing programs prepare graduates to provide excellent, holistic care while encouraging a passion for achievement, a lifelong curiosity for knowledge, and pursuit of advanced p rofessional degree† (GCU, 2011).Transitioning to the Baccalaureate-Degree Level of Nursing The movement to increase the number of baccalaureate-prepared nurses in the workforce is accelerating due to the release of landmark reports from the Carnegie Foundation for the Advancement of Teaching (2009) and the Institute of Medicine (2011) (AACN, 2013). These reports have linked nursing education to enhanced patient outcomes. The need to advance education is also being recognized by registered nurses.In order to transition nurses to the baccalaureate level of proficiency, competencies must include the several essential components as listed in the baccalaureate-degree level of nursing section (AACN, 2013). The AACN Essentials of Baccalaureate Education for Professional Nursing Practice guides the curriculum for Grand Canyon University’s College of Nursing (GCU, 2011). Three dimensions of nursing education and formation were examined in the Carnegie National Nursing Education Study (Carnegie Foundation for the Advancement of Teaching, 2009).The study showed a major finding that due to the demands of nursing practice, today’s nurses are undereducated (Carnegie Foundation for the Advancement of Teaching, 2009). â€Å"To meet the demands of an evolving health care system and meet the changing needs of patients, nurses must achieve higher level of education,† states the expert committee charged with preparing the evidence-based recommendations contained in the landmark report on The Future of Nursing released by the Institute of Medicine (IOM) in October 2010 (AACN, 2013).Education has strongly impacted a nurse’s ability to practice (AACN, 2013). AACN also believes that patients deserve the nursing workforce to be the highest educated possible and the nursing profession should strive to be able to give that to their patients. Research reinforces these beliefs. For example, Dr. Linda Aiken and her colleagues at the University of Pennsylva nia showed a clear link between higher levels of nursing education and better patient outcomes in their study published in the Journal of the American Medical Association in 2003 (AACN, 2013).It was an extensive study on surgical patients and how their survival rate advantage was substantial if treated at a hospital with higher percentage of nurses with degrees at a baccalaureate level or higher (AACN, 2013). The study showed that â€Å"a 10% increase in the proportion of nurses holding BSN degrees decreased the risk of patient death and failure to rescue by 5% (AACN, 2013). † The IOM is recommending that by 2020, the workforce should contain 80% baccalaureate prepared RNs (AACN, 2013). The educational preparation of a BSN nurse versus a diploma or and ADN degree does improve patient care.An example of a patient situation I have experienced that supports this statement is when I witnessed my preceptor who is a BSN nurse educate a family on their child’s condition and h ospital care. Having the background of performing evidence-based research, the BSN RN understood the reasoning behind current practices and was able to educate the family on the patient's plan of care. Being a recent ADN graduate nurse, I felt undereducated and knew that my preceptor was better educated to assist the family with this task.I know my clinical skills, but I am continuing my education to be able to understand the reasons behind our nursing practices. BSN nurses also tend to take a step back and look at the whole picture of patient care before jumping into a situation. This is extremely important when it comes to being on a Rapid Response Team or a Trauma Team. In these situations, I have seen the difference in approach with ADN nurses versus the BSN nurses. I look forward to continuing my education to becoming a baccalaureate-degree nursing professional and providing an even higher level of care to my patients.According to Conceptual Foundations: The Bridge to Professio nal Nursing Practice, â€Å"the demands placed on nursing in the emerging health care system are likely to require a greater proportion of RNs who are prepared beyond the associate degree or diploma level† no matter which type of pathway one takes in the field of nursing (Creasia, J. L. ; Friberg, E. , 2011). I look at the pathway I have chosen in the nursing field and I feel that â€Å"it’s not where you start, but where you finish that counts (Dr.Tim Porter-O’Grady). † References American Association of College of Nursing (AACN). (2013). Creating a More Highly Qualified Nursing Workforce. Retrieved on February 15, 2013 from http://www. aacn. nche. edu/media-relations/fact-sheets/nursing-worforce American Association of College of Nursing (AACN). (2013). White Paper on Expectations for Practice Experiences in the RN to Baccalaureate Curriculum. Retrieved on February 15, 2013 from http://www. aacn. nche. edu Carnegie Foundation for the Advancement of Teac hing. 2009). Book Highlights from Educating Nurses: A Call for Radical Transformation. Retrieved on February 15, 2013 from www. carnegiefoundation. org/elibrary/educating-nurses-highlights Creasia, J. L. ; Friberg, E. (2011). Conceptual Foundations: The Bridge to Professional Nursing (5th Ed. ). St. Louis, MO: Mosby, Inc. Grand Canyon University (GCU). (2011). Grand Canyon University College of Nursing Philosophy. Retrieved on February 15, 2013 from https://lc. gcu. edu/learningPlatform/user/users. html? oken=oxZQCy8VMjQpm14sIn3jTa0SXVNp6bLCdTzhVnvsNXrt%2bE4%2fDNAR1q2VJGlolDMG;operation=home;classId=707215#/learningPlatform/loudBooks/loudbooks. html? operation=landingPage; Institute of Medicine (IOM). (2011). The Future of Nursing: Leading Change, Advancing Health. Retrieved on February 15, 2013 from http://www. iom. edu/~/media/Files/Activity%20Files/Workforce/Nursing/Future%20of%20Nursing%20Education. pdf Maricopa Community Colleges. (2013). Nursing. Retrieved on February 15, 2013 from www. maricopa. edu/programs/index/show/id:3812