Analysis of Body Language Article Example | Topics and Well Written Essays - 500 words

Analysis of Body Language - Article Example For example, nod when saying no, and shake your head when saying yes. In his article, ‘What You Don’t Know about Body Language - but Should’, Nick Morgan asserts that one given gesture may have meaning, and may be interpreted differently (Morgan, 2012). Even so, there are widely accepted meanings to various gestures. For instance, wide-open eyes imply interest. According to the author, effective communication encompasses both verbal and nonverbal communication. When communicating, it is important to pay attention not only to the spoken words but also to the body language. It is argued that body language is more truthful as compared with the spoken word. The human needs, feelings, emotions, intentions, and thoughts are thought to be controlled by the limbic system in the brain. This part tends to react to the world in real times and this is shown by the way the body reacts through the various gestures. These gestures have evolved in people globally. An extensive analysis of President Barrack Obama’s body language has exposed that his body language tends to change from location to location as well as form speech to speech. Also, his body language cues tend to differ in debates and interviews that they are in speeches. Nonverbally, President Obama is an emotional man. A more explicit example is his Tuesday, January 24, 2012 State of the Union Address, whose nonverbal communication with regards to the use of body language was excellent. One eminent gesture throughout the speech was his smile. The smile on his face made him appear genuine. The human brain tends to prefer happy faces as opposed to those faces with negative expressions. His verbal and nonverbal alignments during the speech were on point. His body language supported his message such that it could easily make people believe that he really meant what he said. He looked comfortable and composed. He walked with ease, stood with ease, and all his gestures were fluid and flowing. Â  

Education of the filipino Essay Example for Free

Education of the filipino Essay ?According to the article, it seems that foreigners, especially the Americans influence us in a lot of different ways. They influence us in terms of speech, sense of style and clothing, food we eat, the movies we watch and even how we think and decide. And for that, I can say that our minds are somewhat manipulated by the Western culture and thus, we think and act as if we were like them. Where is the modern day Crisostomo Ibarra and Maria Clara who took their stand for the traditional way of living? Where are the people who care enough to preserve our culture and tradition? I agree with Renato Constantinos statement in which I would quote Education is a vital weapon of people striving for economic emancipation, political independence and cultural renascence. One must be aware of the countrys problems, understand the solution and be caring and courageous enough to work and sacrifice for our countrys salvation. We Filipinos must work hand in hand to achieve one goal. In my opinion, many Pinoys want the Philippines to be an American state because for them, lying in independence could mean poverty. Hopeless and grim as it may seem. For me, its not just the government and the system that has problem here, its the people and their manners plus attitude. It is also said that the most effective way of subjugating people is to capture their minds. In doing so, we are tricked into doing or being someone we are unlikely to be and some of our beliefs and stand can be swayed by such illusions of freedom to express. As long as feelings of resistance remain in the hearts of the vanquished, no conqueror is secure and as long as we are strong and sure of ourselves, we can avoid being swayed by others. The Filipinos mentality sometimes just escapes me. Many are bias and many are just plain jealous of the fact that Filipinos can be smart too. A lot cant still accept that fact. On the other hand, there are several weak beings that move beside the authorized person holding the power against them or what we call puppets. The American culture has been a part of the Filipinos lives. But despite of that I believe that we must preserve our resources and Filipino values to an extent. The fact still remains that these people are in a conquered nation whose national life had to be woven into the pattern of American dominance. The drawback is that we still rely on first world countries such as the United States for support financially and economically. Absurd as it may sound but the truth remains that we are poor and we need them to survive. A classic example would be us students most especially those taking up Nursing. We are struggling hard to finish this course because of its demands abroad. Many are aiming to seek for better job opportunities abroad. I would be lying if I say that I am taking up Nursing because I want to serve my country, but who doesnt want a brighter future? Now wheres my sense of nationalism? I say Im just being practical. Its much better to accept the fact that we, Filipinos are diverse in culture and language as well as our way of thinking because we have been influenced by so many cultures internally and externally. It is true that education will bring emancipation and the right education will broaden our perspective and hopefully, appreciate and capitalize on the diversity to propel us forward.

Accounting Ratio Analysis And Comparison Of Companies Finance Essay

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

Althusser - A Critique :: essays research papers

<a href="http://www.geocities.com/vaksam/">Sam Vaknin's Psychology, Philosophy, Economics and Foreign Affairs Web Sites With the exception of Nietzsche, no other madman has contributed so much to human sanity as has Louis Althusser. He is mentioned twice in the Encyclopaedia Britannica as someone's teacher. There could be no greater lapse: for two important decades (the 60s and the 70s), Althusser was at the eye of all the important cultural storms. He fathered quite a few of them. This newly-found obscurity forces me to summarize his work before suggesting a few (minor) modifications to it. (1) Society consists of practices: economic, political and ideological. Althusser defines a practice as: "Any process of transformation of a determinate product, affected by a determinate human labour, using determinate means (of production)" The economic practice (the historically specific mode of production) transforms raw materials to finished products using human labour and other means of production, all organized within defined webs of inter-relations. The political practice does the same with social relations as the raw materials. Finally, ideology is the transformation of the way that a subject relates to his real life conditions of existence. This is a rejection of the mechanistic worldview (replete with bases and superstructures). It is a rejection of the Marxist theorization of ideology. It is a rejection of the Hegelian fascist "social totality". It is a dynamic, revealing, modern day model. In it, the very existence and reproduction of the social base (not merely its expression) is dependent upon the social superstructure. The superstructure is "relatively autonomous" and ideology has a central part in it - see entry about Marx and Engels and entry concerning Hegel. The economic structure is determinant but another structure could be dominant, depending on the historical conjuncture. Determination (now called over-determination - see Note) specifies the form of economic production upon which the dominant practice depends. Put otherwise: the economic is determinant not because the practices of the social formation (political and ideological) are the social formation's expressive epiphenomena - but because it determines WHICH of them is dominant. (2) People relate to the conditions of existence through the practice of ideology. Contradictions are smoothed over and (real) problems are offered false (though seemingly true) solutions. Thus, ideology has a realistic dimension - and a dimension of representations (myths, concepts, ideas, images). There is (harsh, conflicting) reality - and the way that we represent it both to ourselves and to others.

Interview With Sports Organisation Leader Essay

Part I: Interview Questionnaire 1. Briefly describe your current position and its duties and responsibilities. I am the treasurer to the Mid-Crest Panthers. My responsibilities include ensuring safe custody of all the organization funds and assets as well as handling all financial matters in the organization. I am also a member of the board in which most decisions of the organization are made. 2. How long have you held this position? 3. What is the leadership structure like in your organization? This organization has a board which is the main decision making body. The board is made of the president, vice president, treasurer, secretary, athletic director, cheer coordinator, football director, parent coordinator, and fundraising coordinator. The organization also has team coaches which head various teams. However, all these leaders work in union as far as coordination of the club is concerned. 4. Who are some of the primary stakeholders of this organization? The primary stakeholders include customers and fans, management, coaches, staff, youth and parents. 5. How do you strive to meet the needs of the stakeholders? All stakeholders are represented in board meetings where they give their opinions of what whom they represented would like to see happens in the organization.   I also note this down and ensure that their needs are met as much as possible while still considering all decisions made by the board. 6. How would you describe your leadership style? My leadership style is including others views in carrying out duties entrusted to me. It is democratic leadership. Coming up with ideas and then letting other opinion into these ideas. 7. How important is leadership to the success of your organization? Leadership is very important. It gives the guideline of what activities to be carried out, how and when they will be carried out. It also comes up with strategies of financing these activities. It unites all stakeholders of the organization. It also gives solution to various problems that faces the organization as far as daily activities are concerned. The leadership monitors the organizations activities and gives direction for the necessary actions. 8. What do you feel is the most important aspect of leadership? Most aspect of leadership is to understand people you are leading and their needs- what they need, and then come up with appropriate way of solving these problems. 9. What are some of the significant changes your organization has undergone? The size of this organization has greatly increased over the past years. The organization has also increased its network with other organization in its effort to ensure reliable club funding and participating stakeholders. 10.   What role did leadership play in these changes? The leadership comes up with policies that will enhance this and then present them to the stakeholders as they seek support of the same. 11.   What methods do you use to resolve conflict or resistance to change? Method of solving conflict depends on what kind of conflict is at hand. There are some conflicts which are solved by the team leader, the board or both. Opinions from different members are also given priority so as to avoid conflicts. Dialogue is employed so as to solve many conflicts and rule of majority is also employed. 12. What advice would you give someone entering a leadership position for the first time? One should be ready to work extra hard than the people he/she is leading, understand their needs, including their weaknesses and strengths and be ready to listen to their opinions. Part II: Interview Summary According to this interview, it is clear that a leader is not a person who makes decisions and imposes them those he/she is leading. Success of a leader greatly depends on the relationship he/she has created with those he/she is leading. It is not enough to make decision on how to lead an organization, it also calls for great effort to sell these ideas to all stakeholders so as these decisions may be well implemented. This interview has also changed my view about this organization. I have come to understand that it is a big family where cooperation of all stakeholders is emphasized. All stakeholders are well informed of all activities going on in the organization. It is not a place where stakeholders receive policies from the top management; it is a place where all of them are involved in decision making e.g. in this organization, board members consist of representatives from all stakeholders. As the main decision making body, it is certain that decisions made will involve opinions from all stakeholders. This interview also enriched my knowledge about leadership. As a leader I should have ideas about how to handle a certain situation, but I should also make sure this is supported by the majority and also enrich these ideas from opinions of all stakeholders. In case I was in leadership position, I will consider others opinions very important for my success as a leader. I will equally respect all staff to this organization and support decisions made by the board.

Natnl Missile Defense essays

Natn'l Missile Defense essays Ever since nuclear weapons of mass destruction have existed, people have been attempting to create ways to prevent a war that would bring about a worldwide Arma-geddon. Many of todays top military and government officials have been studying ways in which the United States can protect itself from a nuclear missile attack. What they have come up with is the National Missile Defense program, or NMD. The NMD would consist of a network of satellites, early-warning devices, and missiles pro-grammed to spot an incoming nuclear missile. When a nuclear missile is detected, the NMD would automatically launch the computer-guided interceptor missiles to seek out and destroy the incoming nuclear missile. This program, however, should not be im-plemented or researched any further. There are a few factors to support this claim. First, the NMD program is very costly. According to the website of the Federation of American Scientists, the projected total costs by the year 2005 will be close to $14 bil-lion dollars, obviously a large amount of money that could be well spent elsewhere. Second, the NMD program is ineffective. There are many ways for a rouge state or a terrorist group with nuclear capabilities to get around the NMD. Third, an American development of a NMD program would be a violation one of the most important inter-national nuclear weapons agreements of the nuclear age: the Anti-Ballistic Missile Treaty (ABM). During the height of the cold war, the threat of a nuclear attack was real. Many citizens were afraid that an enemy state, most likely the Soviet Union, would launch nuclear missiles at the US. This fear was almost realized during the Cuban Missile cri-sis in 1962. Fortunately, that crisis passed without any nuclear missiles launched. The fear of an attack, however, stayed with many people. It became the goal of the United States to stockpile weapons, to use in the event of a nuclear attack from...

Impact of New Economic Policy 1991 Essays

Impact of New Economic Policy 1991 Essays Impact of New Economic Policy 1991 Essay Impact of New Economic Policy 1991 Essay Essay Topic: Claim of Policy Industrialization through import permutation and public sector production with accent on heavy industry has been a really of import aim of our planning for development. In peculiar an of import differentiation was made among industries to be developed entirely by the populace sector. those reserved for the private sector. and those unfastened to development by either or both sectors. The reforms of 1991 abolished industrial licensing. except in a few industries for locational grounds or for environmental considerations. and import licensing. except in the instance of most consumer goods. Restrictions under the Monopolies and Restrictive Trade Practices Act were eased. Entry demands ( including bounds on equity engagement ) for foreign direct investing were relaxed. private ( domestic and foreign ) investing were allowed into sectors such as power which had been reserved for public sector investing merely. Disinvestment of equity in the populace sector was besides initiated. The reforms. by concentrating chiefly on the private sector and non turn toing the jobs of PSEs. have exacerbated them. Industry histories for 28 % of the GDP and use 14 % of the entire work force. [ 20 ] In absolute footings. India is 12th in the universe in footings of nominal mill end product. [ 77 ] The Indian industrial sector underwent important alterations as a consequence of the economic reforms of 1991. which removed import limitations. brought in foreign competition. led to denationalization of certain public sector industries. liberalized the FDI government. improved substructure and led to an enlargement in the production of fast traveling consumer goods. [ 78 ] Post-liberalization. the Indian private sector was faced with increasing domestic every bit good as foreign competition. including the menace of cheaper Chinese imports. It has since handled the alteration by squashing costs. revamping direction. and trusting on inexpensive labor and new engineering. However. this has besides reduced employment coevals even by smaller makers who earlier relied on comparatively labor-intensive procedures. [ Decision Over the decennaries. the Indian theoretical account of development has created what is called the double economic system. On the one manus an enclave of big urban industries based on modem engineering was created both in the private and public sectors. uhich rernain tied to foreign assistance and engineering. On the other manus. there was the remainder of the economic system of the hapless which was left to fend for itself. I’he financial and trade systems were besides designed to enclave the economic system. rhe new economic policy will surely beef up this dichotomy and make something wasteful besides. which is evidently anti-poor. On behalf of the new industrial policy it is claimed that it will let go of the Indian industry from unneeded bureaucratic bonds by cut downing the n~lmber of clearances required from the Government. Chiefly. there are two concession~s: The proposed policy allows foreign investing up to 1 per cent to 100 per cent equity on automatic footing topic to some limitations on imports of capital goods. This grant is meant merely for the aliens or those who collaborate with Indian opposite numbers. In other words this proviso will beef up the clasp of the foreign companies on Indian Industry. I h e 2nd grant is for the Indian enterprisers and relates to technological imports. The policy provides no defence against inauspicious impact on the domestic capital goods industry. There is no selectivity in the policy I n the sense that import should non be allowed in those instances where domestic market is in a place to provide capital goods in equal measure and quality. There is no appropriate industry program with appropriate industrial mix. technological choice on the footing of precedences. 22 The sudden displacement from import permutation to export publicity misses both the co~nplementarity and the sequence. It besides misses the demand to take monolithic deformation: j. dependence and the ruptures between the two. The basic standard finding import permutation and taking industrial undertakings has so Ear aimed at salvaging foreign exchange in the short and average periods. Some projections were made for long-run foreign exchange demands but there was Small consideration given to the fact that short-tenn additions in ioreign exchange secured through puting up of all sorts of precedence every bit good as non-priority industries either for limited export or import permutation cnight lead to greater dependance on the universe market and foreign capital imd this push India into a more serious external fiscal crisis. Of class. non all industries set up were that sort. Quite a few. peculiarly the basic and natural stuff bring forthing undertakings. had long term good effects but a still larger figure did non fall in this class. Indeed. trust on foreign coaction and capital and engineering every bit good as universe market and universe monopolies have led both to greater dependance on exterior every bit good as greater and spread outing influence of external capital on Indian industry. peculiarly the new industries. which were set up with the professed intent of making economic independency. What came as an unintended effect of old policy will now be accentuated as a effect of N E I . ~ ~ The new policy is wholly soundless on employment. During the 1880ss. when the industrial growtli increased from five per cent to eight per cent. employment snaps uniformly declined in all. except in the services sector. Unemployment is no A ; going politically unacceptable and already taking to monolithic societal agitation. One expected of the Government to do a clear statement on the employment aim. peculiarly when there is traveling to be a monolithic displacement towards ask foring foreign capital which will be invested merely in capital- intensive industries. Modemisation and export publicity will escalate capital strength every bit good as import-intensity which is besides biased in favc~ur of capital and against labor. The agricultural sector of the economic system is adversely affected by the New Economic Policy. Our farming community is now at the clemency of transnational corporations. They were now confronting two types of jobs. On one side the cost of cultivation is increasing as a consequence of retreating subsidy by the authorities to farm inputs. and the other side they were non acquiring compensable monetary value for their merchandises. The disregard and jobs of a sector which provide support to more than 60 % of the population is black to the Indian economic system. Most of the agricultural harvests shows a worsening growing rate after the acceptance of the New Economic Policy. The economic or. more specifically fiscal crisis is non to the full independent. I t is linked. both as a cause and consequence with many other crisis. The whole society is caught with Inany fold societal paroxysms. The NEP is a despairing dip to rneet some immediate economic menaces. It may or may non win. It has positive facets which are welcome but there are many others which may intensify the crisis. If monolithic investing in the populace sector and import permutation failed to do lndia autonomous how can private sector. including foreign investors and export publicity achieve autonomy under imposed external restraints? So it is logical to reason that the way of the economic system has to alter. There ought to be paradigm displacements towards a more self reliant. sustainable and merely development theoretical account whose end will besides be fundamentally different: non more production of material richness but the creative activity of a new single and society- a contented comfortable community based on a set of values Gandhi propagated and worked for viz. . co-operation sharing engagement common authorization non-violence and peace prior to the mid-1960s India relied on imports and nutrient assistance to run into domestic demands. However. two old ages of terrible drouth in 1965 and 1966 convinced India to reform its agricultural policy. and that India could non trust on forei gn assistance and foreign imports for nutrient security. India adopted important policy reforms focused on the end of foodgrain autonomy. This ushered in India’sGreen Revolution. It began with the determination to follow superior giving up. disease immune wheat assortments in combination with better farming cognition to better productiveness. India ranks 2nd worldwide in farm end product. Agriculture and allied sectors like forestry. logging and fishing accounted for 15. 7 % of the GDP in 2009–10. employed 52. 1 % of the entire work force. and despite a steady diminution of its portion in the GDP. is still the largest economic sector and a important piece of the overall socio-economic development of India. [ 94 ] Outputs per unit country of all harvests have grown since 1950. due to the particular accent placed on agribusiness in the five-year programs and steady betterments in irrigation. engineering. application of modern agricultural patterns and proviso of agricultural recognition and subsidies since the Green Revolution in India. However. international comparings reveal the mean output in India is by and large 30 % to 50 % of the highest mean output in the universe. [ 95 ] Indian provinces Uttar Pradesh. Punjab. Haryana. Madhya Pradesh. Andhra Pradesh. Bihar. West Bengal. Gujarat and Maharashtra are cardinal agricultural lending provinces of India. India receives an mean one-year rainfall of 1. 208 millimeters ( 47. 6 in ) and a entire one-year precipitation of 4000 billion three-dimensional meters. with the entire utilisable H2O resources. including surface andgroundwater. amounting to 1123 billion three-dimensional meters. [ 96 ] 546. 820 square kilometers ( 211. 130 sq myocardial infarction ) of the land country. or about 39 % of the entire cultivated country. is irrigated. [ 97 ] India’s inland H2O resources including rivers. canals. pools and lakes and marine resources consisting the E and west seashores of the Indian ocean and other gulfs and bays provide employment to about six million people in the piscaries sector. In 2008. India had the world’s 3rd largest fishing industry. [ 98 ] India is the largest manufacturer in the universe of milk. jute and pulsations. and besides has the world’s 2nd largest cowss population with 175 million animate beings in 2008. [ 99 ] It is the 2nd largest manufacturer of rice. wheat. sugar cane. cotton and Indian potatos. every bit good as the 2nd largest fruit and vegetable manufacturer. accounting for 10. 9 % and 8. 6 % of the universe fruit and vegetable production severally. [ 99 ] India is besides the 2nd largest manufacturer and the largest consumer of silk in the universe. bring forthing 77. 000 million dozenss in 2005. [ 100 ]

The 3 Types of SAT Reading Passages You Should Know

The 3 Types of SAT Reading Passages You Should Know SAT / ACT Prep Online Guides and Tips There are 3 types of SAT reading passages that you, as the test taker, need to be familiar with. The 3 types of passages mainly differ in length, but also somewhat in content. Therefore, the strategies for tackling them need to be different. Below, we'll go over the different types of reading passages on the SAT and what you can expect from the questions that follow them. NOTE: This article was written about the old SAT Critical Reading section. For more information about passages on the current SAT Reading, we recommend instead reading this article. Types of Passages: Short passages Short passages are generally 100-200 words, 5 or 6 questions per passage.You might have multiple short passages in a section but, because they have less space to express ideas, they are usually informational pieces, rather than fiction. Here's an example of a short passage: These short reading passages tend to follow the sentence completions.Short passages are generally more straightforward and convey simpler ideas. Therefore, you should be able to go through them faster, and with greater accuracy than thelong or paired passages. Short Passage Questions Short passage questions tend to focus around reading comprehension questions. They're likely to be specific questions, or information based, with some general questions about the main idea or tone. Long Passages Long passages are 400-800 words, with anywhere between 7-10 questions per passage.The types of questions likely to be covered in a long passage are mentioned in another section below. Because of its length, you may find yourself forgetting what you read by the time you get to the questions. Therefore, make things easier for yourself! Mark important sections or words as you're reading the passage so that you can easily find it again later as you are going through the questions, just like in the example above. Long Passage Questions Longpassages are the bread and butter of the reading passage and usually involve main idea questions in some form. You should definitelyexpect plot summary questions, questions about the author’s views, and questions about individual characters (if the subject is fiction). Paired Passages Paired passages are 250-600 words each.They generally share the same topic or theme but approach it from a different perspective. Paired passagesare either both long or both short but, don't worry, they are no more difficult than the standard long or short passages. Here's an example of a passage pairing that's particularly short: With paired passages, remember to read any introductory material describing or giving information about two passages. This will usually be found in italics at the beginning and contain valuable information that can start helping you compare and contrast the two viewpoints. It might also be good to keep in mind the kind of sources that the 3 types of reading passages are drawn from. We'll cover these in more detail in another article, but for now, here's a very brief overview, below. Paired Passage Questions For paired passages, the first group of questions will refer to the first passage and the second group of questions will refer to the second passage. The last group of questions will almost always refer to how the passages relate to each other -this question type is unique to paired passages. Paired Passages Generally Have the Following Format for their Questions: A few questions on passage 1 A few questions on passage 2 Some questionsthat ask you to compare and contrast the two passages Some questions that ask you to consider what one author thinks about the other author's point of view Reading passages usually concern these subjects: Natural Sciences Humanities [Arts Commentary, History] Social Sciences [Science and culture] Literary Fiction [Literature] Personal Narrative We cover all these types in more detail in another article, Master SAT Reading: 5 Types of Passages. Question Types Across Passage Types: There are a total of 48 critical reading questions that are passage based, distributed across the 3 types of passages above. All passages share certain types of questions in common, while each passage type also has unique question types. First, we'll cover the types of questions that are common to all passage types. Vocabulary in context questions Vocab in Context questionsgenerallynumber between12-16 questions in total. Typically, they ask about a word in the passage.These questions are straight forward and quick. They're also easy to practice for - don't waste this opportunity to accumulate points!Always refer back to the passage first (get an idea of what word means in your terms then look at answer choice and pick one that matches). Specific Questions Specific questions will often contain a line or paragraph reference, a piece of information that isn't identified by line number.You will need to look for one identifiable piece of information within the passage, not the passage as a whole.If you find the answer, then approach itlike you would the vocab questions - think of the answer in your own words, and only thenlook back at the question.Specific questions can be literal comprehension, extended reasoning, or main idea questions. Literal comprehension questionswant you tofind a specific piece of information. Extended reasoning questionsask you to enter, make connections or draw conclusions about specific information in the passage. They never stray far from the text!You can draw conclusions but keep in mind that they're still specific questions! All answers should be drawnfrom the passage.Sometimes you may have to identify cause and effect,make inferences, orunderstand the logic of analogies or arguments. Main Idea Questions Main idea questions generally ask about passage as a whole (about author's tone, about attitude/development of a character).To answer these, you must have reasonable grasp of the entire passage.These can take a long time, so save them for last if you have trouble with time management. Confused About How to Sort This Out? Don't worry! We've got you covered! Below are some questions that should help you assess how you are doing on the critical reading - what you're good at, what you're having trouble with, where you can improve, etc. Answer them on a separate piece of paper and go over them with another practice test in hand. If you have a tutor, bring your answers to them, so they can have a clear idea of where you need help most! We've also got some links to articles that focus on strategies to ace the SAT Critical Reading section. Check out the section What's Next? at the bottom of this article. Questions to Ask Yourself: What Passage Types Are You Bad At? For each type of passage, categorize the number of questions you get right, wrong, and omit Figure out your % performance for each type of passages Ifone of these is worse than others (say 10% lower than others), focus on that type of passage Categorize the types of questions across the test, then figure out your % for each type of question Focus on your weaker questions/passages when studying for your test What's Next? For more information on SAT Critical Reading, check out: What's Actually Tested on SAT Reading? SAT Reading Skills Printable SAT Practice Tests: 8 FREE Official Tests The Best Way to Read the Passage in SAT Reading Want to improve your SAT score by 240 points?We've written a guide about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Johnson Matthey Case Study Example | Topics and Well Written Essays - 2500 words

Johnson Matthey - Case Study Example 14 Consolidated Income Statement 15 Consolidated and Parent Company Cash Flow Statements 16 PART A: Financial Analysis 1. Company Summary Johnson Matthey is a speciality chemicals company. Focusing on its core skills in catalysts, fine chemicals and precious metals, the company's main activities are organized through its Environmental Technologies, Precious Metals and Fine Chemicals & Catalysts Divisions. Johnson Matthey manufactures catalysts, pollution control systems, and fine chemicals, engages in the refining and fabrication of precious metals and produces active pharmaceutical ingredients (Annual Report, 2009). Important strategic acquisitions are: the acquisition of Argillon Group in February 2008; the selling of non-core Insulators and Alumina businesses to Lapp Insulator GmbH & Co in November 2008; the acquisition of the 49% Alfa Aesar China Limited in March 2009 (Google Finance, 2009) The common stock trades on the London Stock Exchange (LSE: JMAT.L). 2. Strategic Objectives (Annual Report, 2009) For 2009/2010, Johnson Matthey's strategic objective is to generate consistent growth in earnings by developing high added value products and services. The company aims at further supporting R&D and financing organic growth. Although opportunities for growth are on the agenda, the company plans on reducing capital expenditure to generate more cash. The group's financial objectives are: achieving constant and above average growth in earnings per share; achieving an ROI above the group's cost of capital; achieving a 20% ROA for all its divisions; maximizing dividends in line with earnings to ensure sufficient funds are retained to support organic growth The priorities given in strategic direction are: Focusing on its core skills in the... The paper concludes that Johnson Matthey's financial statements are clearly structured, facilitating the company's financial analysis. Also, non-financial statements communicate the group's quality, innovation and efficiency to shareholders in a comprehensive way that identifies the company's strategic objectives. Johnson Matthey is a speciality chemicals company. Focusing on its core skills in catalysts, fine chemicals and precious metals, the company's main activities are organized through its Environmental Technologies, Precious Metals and Fine Chemicals & Catalysts Divisions. Johnson Matthey manufactures catalysts, pollution control systems, and fine chemicals, engages in the refining and fabrication of precious metals and produces active pharmaceutical ingredients (Annual Report, 2009). Important strategic acquisitions are: the acquisition of Argillon Group in February 2008; the selling of non-core Insulators and Alumina businesses to Lapp Insulator GmbH & Co in November 2008; the acquisition of the 49% Alfa Aesar China Limited in March 2009 (Google Finance, 2009) For the fiscal year ended 31 March 2009, Johnson Matthey's revenues increased 4.66% to 7,847.8m.

Steel Industry Essay Example | Topics and Well Written Essays - 1000 words

Steel Industry - Essay Example Arcelor was also the top steel producer in 2003 and 2004 in terms of output in metric tons (International Iron and Steel Institute [IISI]). POSCO, based in Korea, is a manufacturer and distributor of steel rolled products and plates in the domestic and overseas markets. In 2004, the company produced more than 30.2 million tons of crude steel. Its products include hot rolled and cold rolled products, plates, wire rods, silicon steel sheets and stainless steel products. Other products include lower value-added semi-finished products such as pig iron, billets, blooms and slabs. The company enjoyed a market share of around 50% of the total steel products sales in Korea in 2004, with 74.2% of its total sales generated primarily from the Korean market. The company's major export market is Asia, primarily the Chinese and Japanese markets. Other important markets are North America and Europe (POSCO Annual Report). POSCO is the fifth top producer in terms of output from 2003 to 2004 (IISI). Mittal Steel Company N.V., formerly known as Ispat International N.V., produces finished and semi-finished carbon steel products including hot-rolled sheets, cold-rolled sheets, plates, electro-galvanized and coated steel, bars, wire-rods, wire-products, pipes, billets, blooms, slabs, tinplate, structural sections and rails. The company produces steel according to various specifications such as many difficult and technically sophisticated products for use in several high-end applications. Mittal Steel supplied industries in more than 90 countries in 2004, concentrating mainly in North American and European markets. In 2004, it was one of the largest manufacturers of direct reduced iron, with total production of 9.7 million tons. Mittal Steel takes advantage of its strategic shipping location in London, which is a key hub of the global shipping business (Mittal Steel Annual Report). Mittal Steel was the second top steel producer in 2003 and 2004 (IISI). Source: International Iron and Steel Institute However, Mittal, which consolidated Ispat International, Ispat Inland, LNM Holdings and International Steel Group in late 2004 and early 2005, is bound to become the largest steel producer in the world. Steel producers continuously face difficult challenges. For instance, steel companies are highly dependent on demands of such industries as the automotive, beverage and housing that when these industries suffer, they follow suit ("Steel and Iron Industry Profile"). Steel companies exporting their products to North America also have to tackle various issues. In the United States, companies such as POSCO of South Korea and Nippon Steel of Japan, has to contend with complaints from US steel makers demanding an end to illegal dumping by offshore steel manufacturers ("Steel and Iron Industry Profile"). United States Steel Corporation, based in Pittsburgh, PA, is the second largest integrated steelmaker in the United States, and the seventh top steel producer in the world, producing sheet and semi-finished steel, tubular and plate steel and tin products. The company primarily markets its products to the automotive, construction,

Research tutoial Essay Example | Topics and Well Written Essays - 1000 words

Research tutoial - Essay Example Research on nursing usually falls mainly into two areas. These are qualitative research and quantitative research. Quantitative research has its basis on the paradigm of logical positivism, and it focuses on outcomes for clients which are measurable (Polit & Beck, 2010). These are generally statistics. On the other hand, qualitative research as its basis on grounded theory, phenomenology and ethnography among others (Polit & Beck, 2010). It takes into consideration of those involved in delivering the nursing care, putting more emphasis on the meaning which it holds for the individual. There are set guidelines, as well as procedures that assist the participants of nursing research to carry out an effective research. Embracement of these guidelines and procedures will help in protecting the participants as they carry out their research, as well as practice. Legal and ethical issues involve the requirements of participants on their daily work. It takes into consideration the protection of dignity with regard to the information publication in the research. Nevertheless, when nurses participate in any research, they have to put up with the society, nursing practices, and science (Sawatzky-Dickson & Clarke, 2008). The main legal and ethical issues during nursing research include informed consent, beneficence, respect for confidentiality and anonymity and respect for privacy. Informed consent is one of the main ethical issues in conducting nursing research. It is one of the means that enhance protection of the right of the patient to autonomy. It involves the ability for determination, with respect to a personal plan (Sawatzky-Dickson & Clarke, 2008). When it comes to beneficence, it includes professional mandate to carry out a significant and effective research for the purpose of serving and promoting the welfare of the constituents. This implies that the nurses should conduct their

Final Report on Shenzhen Company Essay Example | Topics and Well Written Essays - 1500 words

Final Report on Shenzhen Company - Essay Example The company is a limited liability company with ownership never changing hands since the company’s establishment. As a management policy, human resource is developed in the company through internal training. Most often than not, the company trains lower ranked staff to take up top rank position so as to ensure that less resources are spent on recruitment and placement. Greater part of the company’s clientele has to do with other production companies most of whom have their operations demanding the constant supply of energy. To a large extent therefore, every newly established company becomes an automatic target client for the company. The company’s internal systems have translated into a business image whereby the company is seen as one with a well regulated organizational culture that is based on customer satisfaction. Clearly, the customer satisfaction models used by the company have become its greatest competitive edge. Though public publicity and advertisemen ts are done, most of the company’s new clients are the result of the good things that existing customers tell them about the company. This includes the numerous customer appreciation promotions they enjoy from the company. As a strategy, pricing has always been the same as that of competitors. However, there is a slight difference whereby there are regular discount programs to reward faithful customers. The company’s competitors include other energy companies especially government funded energy companies. Part II. Strengths and Weaknesses of the Company (30 pts) In a number of ways, the company has exhibited a number of strong points as far as the delivery of work is concerned. For instance the company has established an organizational culture that focuses purposely on the customer. This has generally improved the customer service of the company and made it one of the best to in the world as far as customer satisfaction is concerned. There also exists the use of compet itive pricing in the company. Instead of strategizing in the use of lower prices, the company wins the hearts of customers through other for a such as the institutionalization of quality assurance and excellent customer service so that these would make room for maintaining competitive pricing that ensures that the company does not run at losses resulting from reduced prices of goods and services. What is more, the use of internal recruitment is an excellent way of ensuring that workers in the company give off their very best when they are at post. If for nothing at all, the employee would work hard and be committed to work so that he or she gains promotion to take up higher portfolios. The strengths discussed above not withstanding, there remain certain vital weaknesses that are worth addressing with immediate effect. The greater part of this has to do with the growth and expansion policy of the company. Presently, the company concentrates more on regional expansion rather than glob al expansion. This means that not as many branches as the company is in a position to build are formed in international economies. What this implies is that the company is denied of precious foreign exchange. The company also lacks diversity in its overall workforce. Again, the company is not opened to international standards and competition. It is therefore suggested that the company starts major

Consumer Behaviour in Action Coursework Example | Topics and Well Written Essays - 500 words

Consumer Behaviour in Action - Coursework Example Need recognition results from imbalance between actual and desired states as a result of a stimulus that motivates the individual to make buying decision (Lamb et al. 2011). Stimulus may be internal such as hunger or external such as an advert. Need may arise if current product malfunctions, runs out or discovery of a more superior product. This prompts the buyer to start the decision process by gathering necessary information. However, if a product is available which satisfies the need, there is no need for information search. Information may be internal or external and depends on whether the buyer is highly involved with the product or not. The level of involvement depends on previous experience, interest, perceived risk, and situation (Lamb et al. 2011). Routine purchases and low-cost goods are low-involvement; therefore, do not require a lot of information. The buyer may even skip searching for information and make purchases. If buyer has previous product experience but is unfamiliar with current brand, he/she may search for little information hence low-involvement. However, if perceived risk is high, the buyer is highly involved thus extensive information is sought (Blythe, 2008). For example, a routine product like hotdog does not require more information while an expensive car or home is a high-involvement product requiring more information. Information can be from: personal sources like family, co-workers, friends; commercial such as advertising, salespeople, displays; public such as newspaper, TV, consumer organisations or experiential such as using the product. Information sought regards price, quality, compatibility, capability, among other attributes. Once buyer gets information, he/she carries out evaluation to determine the right choice among alternatives.

Cosmetic Surgery - New Form of Modern Art or Pure Science Essay

Cosmetic Surgery - New Form of Modern Art or Pure Science - Essay Example The essay "Cosmetic Surgery - New Form of Modern Art or Pure Science" analyzes the phenomenon of cosmetic surgery. The issue of cosmetic surgery is probably the most debated within the domain of modern medicine. Within the recent decade it was highly debated not only in the US medical and ethical journals but also on TV and in popular newspapers. One of the most popular theses for such debates is following: is cosmetic surgery an art (as it does not require medical indications for the treatment) or a science (as it is based on profound medical techniques)? Simple â€Å"googling† the Internet gives clear evidence that most surgeons working in this area as well as respective clinics advertise their business as the â€Å"art of plastic / cosmetic surgery† instead of propagating it as a purely scientific and sophisticated activity. Conventionally comparing their business with Pygmalion’s statuary – the mythological Greek sculptor who created his ideal Galatea out of a marble stone – surgeons underline that the ultimate goal of cosmetic surgery is to make people more fit common aesthetic standards and appeal more both to themselves and the others. Not surprisingly, as Blum mentions many of cosmetic surgeons call themselves artists and sculptors. In many aspects comparisons between cosmetic surgery and art are based on the reasonable ground. Dislike the general surgery, cosmetic one does not have the standardized procedures. Contrasting to surgery where the doctor is the one and only who knows the way to successful treatment.

Final Report on Shenzhen Company Essay Example | Topics and Well Written Essays - 1500 words

Final Report on Shenzhen Company - Essay Example The company is a limited liability company with ownership never changing hands since the company’s establishment. As a management policy, human resource is developed in the company through internal training. Most often than not, the company trains lower ranked staff to take up top rank position so as to ensure that less resources are spent on recruitment and placement. Greater part of the company’s clientele has to do with other production companies most of whom have their operations demanding the constant supply of energy. To a large extent therefore, every newly established company becomes an automatic target client for the company. The company’s internal systems have translated into a business image whereby the company is seen as one with a well regulated organizational culture that is based on customer satisfaction. Clearly, the customer satisfaction models used by the company have become its greatest competitive edge. Though public publicity and advertisemen ts are done, most of the company’s new clients are the result of the good things that existing customers tell them about the company. This includes the numerous customer appreciation promotions they enjoy from the company. As a strategy, pricing has always been the same as that of competitors. However, there is a slight difference whereby there are regular discount programs to reward faithful customers. The company’s competitors include other energy companies especially government funded energy companies. Part II. Strengths and Weaknesses of the Company (30 pts) In a number of ways, the company has exhibited a number of strong points as far as the delivery of work is concerned. For instance the company has established an organizational culture that focuses purposely on the customer. This has generally improved the customer service of the company and made it one of the best to in the world as far as customer satisfaction is concerned. There also exists the use of compet itive pricing in the company. Instead of strategizing in the use of lower prices, the company wins the hearts of customers through other for a such as the institutionalization of quality assurance and excellent customer service so that these would make room for maintaining competitive pricing that ensures that the company does not run at losses resulting from reduced prices of goods and services. What is more, the use of internal recruitment is an excellent way of ensuring that workers in the company give off their very best when they are at post. If for nothing at all, the employee would work hard and be committed to work so that he or she gains promotion to take up higher portfolios. The strengths discussed above not withstanding, there remain certain vital weaknesses that are worth addressing with immediate effect. The greater part of this has to do with the growth and expansion policy of the company. Presently, the company concentrates more on regional expansion rather than glob al expansion. This means that not as many branches as the company is in a position to build are formed in international economies. What this implies is that the company is denied of precious foreign exchange. The company also lacks diversity in its overall workforce. Again, the company is not opened to international standards and competition. It is therefore suggested that the company starts major

Cosmetic Surgery - New Form of Modern Art or Pure Science Essay

Cosmetic Surgery - New Form of Modern Art or Pure Science - Essay Example The essay "Cosmetic Surgery - New Form of Modern Art or Pure Science" analyzes the phenomenon of cosmetic surgery. The issue of cosmetic surgery is probably the most debated within the domain of modern medicine. Within the recent decade it was highly debated not only in the US medical and ethical journals but also on TV and in popular newspapers. One of the most popular theses for such debates is following: is cosmetic surgery an art (as it does not require medical indications for the treatment) or a science (as it is based on profound medical techniques)? Simple â€Å"googling† the Internet gives clear evidence that most surgeons working in this area as well as respective clinics advertise their business as the â€Å"art of plastic / cosmetic surgery† instead of propagating it as a purely scientific and sophisticated activity. Conventionally comparing their business with Pygmalion’s statuary – the mythological Greek sculptor who created his ideal Galatea out of a marble stone – surgeons underline that the ultimate goal of cosmetic surgery is to make people more fit common aesthetic standards and appeal more both to themselves and the others. Not surprisingly, as Blum mentions many of cosmetic surgeons call themselves artists and sculptors. In many aspects comparisons between cosmetic surgery and art are based on the reasonable ground. Dislike the general surgery, cosmetic one does not have the standardized procedures. Contrasting to surgery where the doctor is the one and only who knows the way to successful treatment.

Gallery Review - Nancy Lang Essay Example for Free

Gallery Review Nancy Lang Essay Today, the 9th of March, I have heard of the Pyo Gallery, and as soon as I heard that it was in Wangjing, I changed my plan from going to the Dashanzi District to trying the new place. It was hidden in several other galleries. I was lucky to get there before the exhibition time was over. The owner was a Korean, who kindly explained some paintings for me. I was glad to find out that they currently had an exhibition of Nancy Langs art. I have always wanted to find out more about Nancy Lang ever since I have seen her in person at the art fare I have been to, in Korea last summer. There was her trademark series of Taboo Yogini paintings of which I have seen one piece of it before. Among all of the paintings that looked similar in overall size and image, I preferred this particular painting the most. Nancy Lang is an American born-Korean Pop artist who is very young and innovative. This piece of her is named the Taboo Yogini, Swinger and has an enormous size of 210 x 175 cm. She used mixed media on canvas to create this huge piece. This painting was finished in the year 2006, when she was 27. On this humungous canvas, there is a big character in the middle which has the body of a robot and a head of a girl with some abstract and obscure figures as legs. The subject has a basket full of tennis balls in its right hand. The light-blue background is solid with no value. The most interesting aspect about this art piece is the mysterious figure placed in the center holding the viewers attention. This piece looks more like a collage than a painting with images attached on the screen. The positive space is the one and only subject on the canvas. The body, which appears to be a robot, contains the three primary colors with a considerable amount of white. These colors together form a fancy image of a childs robot toy, attracting the viewers eyes to the center of the figure, which is where the head is placed. An image of the head of a human girl is used, juxtaposing the robot body. In the figures right hand there is a basket of lime green tennis balls. In the lower part of the art piece, as the legs of the main subject there are two obscure figures that could be hardly described. On the left side there is a fan shaped quadrilateral printed on a shiny material, and on the right side there is a figure that seems like a mixture of blood vessels and bones. The objects do not seem to have any connection between them, but as a whole they get together very well forming one huge body. The negative space is painted in one tone of light-blue, which helps the subject to stand out. Unlike its visual texture the actual texture of the piece is very smooth just like a painting. Nancy Lang is famous for her mysterious art pieces and unconventional performances. She is a multi-talented young woman who wants to be famous and rich, according to her own words. She actually has played a violin in the middle of a street wearing Victoria Secret lingerie and red high heels with kabuki style makeup. In her series of Taboo Yogini, she mixes up diverse icons to create a sort of cyborg that she declares to be the ironical face of the democracies we live in. According to her, this character Yogini, which originally means a yoga trainee, points to an existence between an angel and devil. So the name of her series Taboo Yogini is in a way representing both good and bad. I think the half-robots that appear on her pieces also represent Nancy Lang herself and the various different sides of her. Nancy Langs paintings are very obscure and difficult to understand. When I first looked at this piece, I was totally blown away by the innovative design of the image. However, I could never see the ironical face of the democracies before I read the explanation. These mystical figures, which look almost like monsters, keep appearing on her canvases expanding the viewers imagination and interpretation of them. Still, I think they are insufficient to clearly deliver the authors true intention of creating such images. Nevertheless, it is impossible for one to see through the genuine mind of an author. I really like Nancy Lang and her innovative spirit. She is afraid of nothing, even the awkward stare of others.

International Business Research Question and Answer

International Business Research Question and Answer Question 3 You are the CEO of a company that has to choose between making a $100 million investment in Russia or Poland. Both investments promise the same long-run return so your choice is driven by risk considerations. Assess the various risks of doing business in each of these nations. Which investment would you favour and why? Answer INTRODUCTION International Business International Business is evolved from international trade and international marketing. International business is a crucial venture due to the influence of varied social, cultural, political, economic, natural factor and government policies and laws. According to Michael H. Moffett, â€Å"International business is the process of focusing on the resources of the globe and objectives of the organizations on global opportunities and threats in order to produce, buy, sell or exchange of goods and services world-wide. Factors Lead to International Business Establishment of WTO Globalization of Economies Rapid technological Advancement Enlargement of European Union Increase in competition Higher growth rate of GDP in developing Countries Increase in business alliances in degree and variety Emergence of supportive institution RUSSIA Russia is the worlds largest country in terms of territory. Its consumer market consists of over 140 million people. It has vast resources, a highly educated workforce, and technologically advanced research and production capabilities. Still, Russias economic potential remains largely untapped. Many investors shy of Russia amid growing concerns that the political system in the country is breeding dissent among the population. As such, the economy has been in a state of flux in recent months and its close proximity to Europe amid the financial crisis remains a pivotal danger. However, none of these things change what Russia has to offer. Its technological capabilities matched with its natural resources give the countrys economy great potential. Political turmoil will only drive prices down, making it a better time to invest in this country. Investment Climate and Opportunities Overview 1. Dynamic Economic Growth 2. One of the Largest Consumer Markets 3. World-Renowned Human Capital 4. Vast Natural Resources 5. Unique Geographic Position 6. Technologically Advanced Economy 7. Attractive Taxation System 8. Extensive Government Support 9. Stable Social and Political System RUSSIA’S ECONOMIC OVERVIEW Russia has undergone significant changes since the collapse of the Soviet Union, moving from a globally-isolated, centrally-planned economy towards a more market-based and globally-integrated economy, but stalling as a partially reformed, statist economy with a high concentration of wealth in officials hands. RUSSIA: RISK ASSESSMENT 1. SLOW DOWN IN GROWTH: Growth has slowed down in Q2. This trend should beconfirmed over the whole of 2012, with the Russian economyhowever holding up in a very depressed internationaleconomic context. Oil production reached a record level inthe middle of the year. On the other hand, industrial productionhas suffered from a fall in demand from the mainpartners of Russia (European Union and China). Investmenthas been curbed by a rise in production costs reducingcompany profits. Private consumption, the main driver ofthe Russian economy, was buoyed in HY1 by the rise inwages and social spending, growth in banking credit aswell as the good state of the employment market. However,the rise in inflation is now affecting the increase in realwages and therefore domestic demand. Inflationary pressurehas increased since June, under the effect of the risein the price of food (increased by the effects of the summerdrought) and public services (energy). The Central Bankraised its refinancing rat e in mid-September (from 8% to8.25%) to try to contain the rise in prices within the limit ofits 6% target. 2. BUDGET CURRENT BALANCES DEPENDENT ON OIL PRICES: The 2012 budget was amended in June to take accountof an expected rise in oil prices (from $100 to $115 a barrel),which increases fiscal revenue and allows expenditureto be maintained. Oil revenue accounts for half of Staterevenue and the price of oil ensuring equilibrium in publicfinances has doubled since 2008. Taking into account therecent change in the price of a barrel, revenue should bebelow that expected while expenditure will not be reviseddownwards. Consequently, the balance should be slightlyin deficit at the end of the year. However, Russian publicfinances remain solid with public debt below 10% of GDP,leaving the government some room for manoeuvre, at leastin the short term. 3. COMPLEX JUDICIAL SYSTEM: Property rights are widely perceived to be contingent on political connections, and intimidation of businesses by the FSB and police for political and financial ends is frequent. Red tape stifles innovation, and lack of transparency makes adequate partner due diligence elusive. The judicial system is also problematic: legislation implementation is broadly unpredictable and the independence and integrity of Russian courts is deeply flawed. 4. CORRUPTION AND LACK OF GOVERNANCE: Corruption and weak corporate transparency is another major ongoing risk for investors. Many analysts admit say that this is a big problem particularly among some of the smaller companies, whose accounts are not particularly transparent. Even well-known and respected companies like IKEA which heavily focus on practicing ethical businesses activities declared a moratorium on subsequent Russian investments due to the ongoing concerns of corruption. Based on the Corruption Perception Index, Russia has a lot of obstacles to fair and efficient business practices. Even Iran, Libya and Pakistan are perceived as having less corruption. 5. POLICIES: Russia’s economic and fiscal policy is not investor-friendly. The tax code is overly complex. Russia also has a distinct penchant for protectionism: despite its WTO accession, it continues to unpredictably implement levies, tariffs and bans on hundreds of imports. Tight relations between business and politics are highly detrimental to the business environment. POLAND Polands economy is much smaller than that of Russia. However, with a strong consumer market of 38 million, it is still one of the biggest markets in Europe. The country benefits greatly from its geographical location, which makes it possible to export goods to all European countries and thus reach over 500 million consumers. Similar to Russia, Poland has a highly educated workforce. Therefore, Poland also falls victim to its proximity to Europe and the ongoing crisis. For these reasons many investors are also shying away from this nation. In these trying times though, Europe still remains a solid economy, and though it has faltered, it has managed to remain intact. As investors flee Europe amid growing concerns over the failure to revive the economy and provide successful solutions, Poland offers a great bargain. Polands economic performance could improve if the country addresses some of the remaining deficiencies in its road and rail infrastructure, business environment, rigid labour code, commercial court system, government red tape, and burdensome tax system. ECONOMIC OVERVIEW OF POLAND Poland has the largest economy in Eastern Europe, and one of the highest levels of foreign investment at $13.9 billion as of 2006. Polands economy has been growing quickly, at about 6%, for the past 5 years, and was growing at an even faster pace before this. Despite its GDP growth, Poland faces numerous economic issues; it has chronic high unemployment, low wages despite significant increase of productivity, massive flight of educated population abroad, and low level of innovativeness and highest percentage of people working for national minimum wage among countries of European Union Poland: Risk Assessment 1. DECELEARTING GROWTH IN 2012: Economic activity remained sustained in 2011, despite a slowdown in growth during the last quarter. Growth has continued to decelerate in 2012. Household spending, which represents 60% of GDP, effectively remains low due to a decline in consumer confidence, in conjunction with an annual inflation rate of 3.8% in August 2012, a public sector wage freeze and deterioration in the employment market (13.3% unemployment). The Polish trade deficit shrank in 2012 following a contraction in domestic demand in Q2 VS. Q1 (-3.1%) and slowing exports (+0.8%). Although exports were impacted by a slowdown in Western Europe, exports towards Russia and Ukraine progressed by more than 20%. The heavy deficit in the income balance wiped out most of the positive effect from the trade improvement. The impact of external trade on GDP was nonetheless limited on account of the low level of trade openness compared to other Central European countries. An expected reduction in i nflation should enable the Polish central bank to modify monetary policy. The governor has committed to cutting rates in the event of an economic slowdown. Despite the decline foreign investment flows will cover the current account deficit. At the end of July 2012 net investment flows covered the deficit, i.e. EUR 8 billion. The private construction sector was weighed down by a fall in household demand. The construction production index published monthly by Euro stat fell 8% over the first 7 months of 2012 compared to 2011. Furthermore, the construction sector was boosted, during several months, by the organisation of the European football championships in June 2012 (stadiums, hotels, road networks †¦) with support from public investment. Corporate credit remained dynamic during Q1, particularly in zloty terms, but investment will decelerate sharply over coming months. 2. STRUCTURE AND HIERARCHY IN POLISH COMPANIES: Organisations in Poland have a strong respect for hierarchy and authority, with structure and delegation coming from above. This hierarchical style is reflected in manyPolish businessformalities and settings, including the decision-making process and the use of professional titles. Seniority in Polish organisations is acknowledged and respected and the corporate hierarchy is often formed on the basis of age and educational background. For this reason, when negotiating, it is advisable to send delegates of a similar status to those of Polish colleagues, both in age and professional qualifications. Rules and regulations are an important part of the Polish business environment so Polish counterparts may expect theirbusiness partners to know and appreciate established etiquette and business protocol. 3. RELATIONSHIPS: Doing business in Poland requires an understanding of the importance of relationships in polish businessculture. Building individual relationships is essential to the success of business objectives, especially in the long term. Polish people take time to establish relationships with business partners and to build trust. Poland has a family-focused society, and poles value building and maintaining close personal relationships. This may be considered as a challenge for many foreigners doing business in poland who are not used to sharing personal information with their business partners. For poles this is one of the stages of the trust-building process. 4. COMPLEX BUREAUCRACY: Although Poland’s per capita GDP is increasing relative to the rest of the EU, it amounts to less than 70% of the EU average. Nonetheless, strong domestic consumption is one of the engines of growth in Poland. Poland has made great strides toward improving the commercial climate, but investors point to an inefficient commercial court system, a rigid labour code, bureaucratic red tape, and a burdensome tax system as challenges for foreign companies. 5. IMPROVEMENTS IN INFRASTRUCTURE: Although many infrastructure improvements have been completed or are underway, Poland still has much work to do in order to modernize its road and railway network. Weaknesses in transportation infrastructure increases the cost of doing business for U.S. businesses by limiting ready access to all of the markets within Poland and diminishes the country’s current attractiveness as a regional distribution hub. Internet access and connection strength is good in the cities, but still very limited in less populated regions. 6. IMPROVING PUBLIC FINANCES: The Public finances development and consolidation plan implemented by the government in order to respect Maastricht criteria from 2013 onwards will be pursued. The public deficit, which reached almost 8% of GDP in 2010, is expected to fall below 4% in 2012, through higher taxes on oil products and an increase in social contributions. As a result, public debt should stabilise at around 55% of GDP. However, as a large proportion of the debt is held by non residents, it is vulnerable to risk aversion among investors. Furthermore, the European recession has weighed on foreign direct investment flows in 2012 which has meant that the only stable capital flows financing the current account deficit have come from European structural funds. The Polish banking system seems relatively robust, with capitalisation ratios in excess of Basel III minimum requirements. However, subsidiaries of foreign banks, which are mostly implanted in the euro zone, represent two-thi rds of the banking sector, which is therefore dependant on foreign capital. Banks remain highly exposed to currency risk, as household loans denominated in foreign currency account for 14% of GDP. Furthermore, the zloty depreciated by 8% of its value against the euro between January and September 2012. 7. A COMPARATIVELY STABLE POLITICAL CONTEXT: -The 2010 presidential election resulted in Bronislaw Komorowski leading a coalition between his centre-right party (PO), which had been in power since October 2007, and the Polish people’s party (PSA). The general elections held on 9 October 2011 confirmed the coalition’s position. The Prime Minister, Donald Tusk has made budget deficit reduction a priority. However, the latest opinion polls highlight growing popular discontent with current fiscal austerity. Furthermore, the adoption of the euro has been postponed due to the single currency’s current lack of appeal according to the Prime Minister. CONCLUSION Both countries have positives and negatives aspect of investment. But after assessing risks Quotient in these two countries one can conclude that it is difficult to set up new facility in Russia. Because there are more factors affecting risk perception in Russia as compared to risk perception in Poland. Poland is better option than Russia REASONS FOR THIS The only EU country to have avoided recession in 2009 FDI appeal is reinforced by the size of the domesticmarket Diversified economy The highest absorption rate of European structuralfunds in emerging Europe