Compare and Contrast Engagement Ring vs Promise Ring Essay Example

Compare and Contrast: Engagement Ring vs Promise Ring Paper A little girls fantasy fall comes true; but it starts with one promise of two little words, I do. While this may take time for most girls, I am lucky enough to have two rings, my engagement ring and my promise ring. They both have not only physical features, but symbolic features as well as different stories and backgrounds of how they came to be in my possession; however, they share a single similar promise. My grandmother originally gave me my promise ring.. One day she took me Into Target and I just happened to spot the jewelry counter. At this time I really didnt have any fancy rings that I could wear daily, and I wanted one so badly. I picked out the perfect one! It was sky blue and shaped like a heart. It was on a white gold ring, and beside the blue stone were tiny little dots of sterling silver that look like a flower. It was perfect since my favorite color was blue and It just had everything I wanted In a ring. But sadly, my grandmother said maybe another time. Disheartened, I turned away and we went on with our trip to Target. We will write a custom essay sample on Compare and Contrast: Engagement Ring vs Promise Ring specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Compare and Contrast: Engagement Ring vs Promise Ring specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Compare and Contrast: Engagement Ring vs Promise Ring specifically for you FOR ONLY $16.38 $13.9/page Hire Writer However, that Christmas. Not to long from our Target adventure, my grandmother surprised me with a ring. Although I argued repeatedly that this could not be the ring I had originally picked out, she reassured me that it was. A couple of days after receiving the ring from my grandmother, I had to get a plate put into the backing because my fingers were too small, and the ring would Just slid off. After the ring fit right, looked amazing, and made me so happy, I was finally content with It. At that moment I had decided that I wanted to wear the ring as much as possible. And so, I wore It everyday until I eventually took it off to much and then I wore it only occasionally when would remember to wear it, and finally I eventually stopped wearing it all together because I forget about putting it back on my finger. Several years down the road, my fiancà ©Ã‚ © and I met. We first met in a typical way: through the Internet, on a website known as My Year Book. We chatted for a few months, and finally decided to meet up with each other. Ironically, we were less than five minutes away by car and we never even knew. It honestly was love at first sight. Another month rolled on by, and we saw each other every single day that summer of 2008. Finally, on Tuesday August 12 at 10:30 in the morning while we were walking through the forest near our houses, he asked me if I wanted to be his girlfriend. I can never forget that moment because life Just seemed everlasting. We fell in love and just could not Imagine ourselves with anyone else. Month after month rolled on by, and deeper In love we fell. One day, while I was cleaning out my Jewelry box, I found the ring my grandmother had given me many years ago. I took it and showed my boyfriend the ring the next time I saw him and told him that I found this in my jewelry box, leaving out the part of how my grandmother had bought it. He took one look at it and said this is it! Looking at him puzzled and confused, he proceeded to tell me that he was looking for a ring that he could give to me to show his love and affection Ana Tanat tins roll was perfect. So en Knelt down on one Knee, Ana salad to me, Nicole Renee Rose Heron, would you promise me your heart forever and always and we shall be together until we die and there after? Of course, crying my eyes out, I said yes. And so he then placed it on my left ring finger. After a year went by, we were still promised to each other. Not once did I take off the ring because I had a fear of losing it again or Just forgetting to put it on one day. We still fell deeper and deeper in love with one another daily. Although trying to balance high school, three Jobs and trying to see the man I love was difficult, however, we made the best of everything. We both Just knew that one day we would get married and start a family because we still could not see either of us with any there person. One day, my boyfriend and I decided that we should look at engagement rings at a local department store. So, we did. Again, I noticed the Jewelry counter once I entered the store. Once there, I looked at rings in the engagement area and suggested to my boyfriend about what rings I liked and which ones I wanted. It had to include a diamond and be on white gold. Also at the store, I sized my finger Just for his future knowledge of what my size would be if he would buy me any type of ring. Once he got an idea of everything I wanted in a ring, we left the tore. On Sunday May 10th 2009, also known as Mothers Day, I went over to my boyfriends house for the whole day. We were upstairs lying on his bed Just talking about everything and anything! Things like are we going to get married, are we going to be good parents, are our families ever going to stop fighting, will we be able to support ourselves, how much we loved one another, and the list Just continues on. Everything possibly imaginable was something we talked about. But once tears began to fall from my eyes, he got up and went over to his dresser. I questioned his action, and he Just said hold tight. I sat there waiting; he returned and told me to stand up because he wanted to talk to me. So, I wiped the tears from my cheeks and stood up. He began to talk to me about how much he loved me and how he knew that our trust would never be stronger after we got married. After that, he knelt down on one knee, pulled a box from behind his back and opened it revealing an engagement ring. He proceeded to tell me, Nicole, you are so beautiful and I love you dearly, and our love or each other is so strong, and I want us to never end. I want our trust to be everlasting. I want our love to be pure and true. So I ask you, Nicole Renee Rose Heron, would you do the honor of marrying me and becoming Nicole Renee Rose Rue? Once again, with tears running down my face, I of course said yes! He then took off our promise ring and moved it to the ring finger on my right hand and put the engagement ring on the ring finger on my left hand. This ring was absolutely beautiful! I again denied picking this exact one out, but he reassured me that it was he one that I had my eye on every time we would go out to a Jewelry store or a department store. I had three stones, two sapphires surrounding one diamond. They were all resting on a crafted white gold band. I fell in love with it! Therefore, along with the promise ring, I have not taken it off since: not even to shower. This ring has honestly become part of me Just as my fiancà ©Ã‚ © has become part of me. Some say that the left ring finger has a vein that runs directly to the heart therefore, the engagement and wedding band goes on the left finger. The promise ring acted as the original promise to each other that we should never separate and that we will always love can toner. Metaphorically teen ring Deadlocked toners Trot coming Into my near Then once the engagement ring took over that Job, the promise ring moved to the right hand as a daily reminder, since Im right handed, that I am taken and my heart belongs to someone. Now, the engagement ring is on my left ring finger permanently blocking out foreign men from loving me. These two very different rings that come together for a main purpose: to help two people fall and stay in love with one another.

Pythagoras of Samos essays

Pythagoras of Samos essays Described as the first pure mathematician, Pythagoras is an important figure in maths development, yet relatively little is known about his existence. No reference books or biographies by him are left behind, and since his life in society was lived half-religious and half-scientific, his code of secrecy means he was a mysterious figure. Pythagoras was the son of Mnesarchus and Pythais (a native of Samos). Mnesarchus was a merchant of Tyre who was granted citizenship as a mark of gratitude for his service to Samos in its time of need. Accounts of Mnesarchus tell that little Pythagoras traveled mostly everywhere with him and that he was taught by the Chaldaeans and the learned men of Syria. Although little is known about his childhood or his appearance, a description of a striking birthmark that he had on his thigh is probably the only thing fictitious about his form. His ability to play the lyre and quote poetry by Homer suggests that he was well educated. Although there were many educators for Pythagoras, three philosophers (those among them Pherekydes) were considered to be his teachers. In the length of his life, Pythagoras made many journeys. In 525 BC when Cambyses (king of Persia) invaded Egypt, Polycrates (a good friend of Pythagoras) abandoned his allegiance with Egypt and sent 40 ships to attack it. After Cambyses captured Egypt and held Pythagoras' friends captive, he imprisoned Pythagoras. Afterward, Pythagoras was released and he settled in Babylon and later returned to Samos. After Samos he journeyed to Italy in 518. After he returned to Samos he later traveled to found a philosophical and religious school in Croton that had many followers. Pythagoras was the head of the society and he had an inner circle of followers called mathematikoi. They lived permanently with the Society, they had no personal possessions and they were all vegetarians. Today Pythagoras is known for his famous geometry theorem ...

Creativity and innovation at greenpeace Essay Example | Topics and Well Written Essays - 2500 words

Creativity and innovation at greenpeace - Essay Example While implementing any sustainable strategy, an organization has to closely analyze its resources and capabilities such as culture, diversity, human capital, innovation and creativity, as if they are durable, transferable and replicable or not. Creativity and innovation among organizations usually occurs through development and implementation of new mechanisms in a non-traditional way. Any organizational environment constitutes a social and a cultural aspect called the field and the domain respectively. According to Csikszentmihalyi (1999), â€Å"creativity occurs when a person makes a change in a domain, a change that will be transmitted through time†. Creativity is essentially a two way process in which people must interact with the field and the domain to achieve certain level of novel variation. The person with specific set of talents and experiences transmits the body of knowledge in context of the cultural system (domain). The social system (field) then evaluates innovat ion and retains the selected creativeness in context of the domain. For instance, there are people in the field of modern art who decide whether the new paintings deserve to be purchased, collected and added to the domain or not. Amabile (1998) suggests that â€Å"within every individual, creativity is a function of three components: expertise, creative-thinking skills, and motivation† illustrated in figure 01. In any organization, however, managers are fully capable of influencing these components via workplace practices and conditions. The intellectual, procedural and technical knowledge comprises the expertise. The novel and unique ways in which people approach certain issues come under the creative-thinking skills component, and the inner spirit and devotion required for tackling or solving a particular issue forms the motivation component. Factors such as challenge, freedom, resources, work-group features, supervisory encouragement, and organizational support affect crea tivity and can be analyzed to enhance creativity in organizations. It is important to note here that some systemic practices are existent which may also kill creativity. Figure 01: The Three Components of Creativity. Source: (Amabile, 1998) According to West and Farr (1990), innovation is â€Å"the intentional introduction and application within a job, work team or organization of ideas, processes, products or procedures which are new to that job, work team or organization and which are designed to benefit the job, the work team or organization†. The process of innovation encompasses both the development of a concept and effective translation of that concept into practice. All organizations are capable of being innovative to certain extent depending on the sources of innovation and many of them consider creativity and innovation as part of their competitive strategies. If a change is beneficial, intentional and novel, it can be rightly regarded as innovation. Economic activit ies are mostly dependent on finite and limited set of natural resources present on earth. Overexploitation of these limited resources is continuously threatening the global economy, which at its core is embedded in the environment. Industries worldwide are depleting resources of the earth not taking into account the provision of relatively free ecosystem services. The changing patterns of resource scarcity have given rise to a new business model known as Natural Capitalism. According to Lovins et al. (1999), â€Å"

PARLIAMENT, POLITICS AND POLICY MAKING Essay Example | Topics and Well Written Essays - 2000 words - 1

PARLIAMENT, POLITICS AND POLICY MAKING - Essay Example The government Bills are customarily introduced in the House of Commons, with approved drafts going to the House of Lords and then to Monarch for the subsequent assent. While such a procedure creates necessary checks and balances system in order to prevent the possible implementation of hastily approved Bills, it still limits the powers of popularly elected MPs in favour of non-elected governmental bodies, The time limits on the readings of the Bills in one session represent a significant deficiency of the present system of lawmaking as well. As the sessions of Parliament are closed by the act of prorogation, each Bill that fails to be carried through all necessary legislative steps is considered lapsed, and its authors have to go through this very process of legislative enquiry anew (Keenan and Smith 53). This has a significant adverse effect on the tempo of lawmaking and obstructs the efforts of lawmakers. Nevertheless, the legislative procedure of British House of Commons has its own positive features as well. ... The modernisation agenda of Blaire’s government affected both Houses of the Parliament, leading to many changes in its procedural rules and other structural elements. One of most significant of these policy moves was a thorough reform of the House of Lords, which lost its traditional character of the representative body of hereditary aristocracy after the House of Lords Act of 1999 provided for abolition of all but 92 hereditary peerages (Strickland and Cracknell 3). The modernisation of the House of the Commons proceeded rather unevenly, being somewhat stalled and timid in 1997-2001 and increasing in pace after 2001 (Cowley 20). Under Richard Cook, the Labour Party’s Leader of the House of Commons in 2001-2003, such important reforms were undertaken as the provision for more even resources allocation to select committees, the introduction of more topical Parliamentary Questions, and establishment of payment system for heads of select committees, so that the latter migh t wield an influence comparable to that of the Ministers (Cowley and Stuart 29). The tenure of Jack Straw as the Leader of the House (after 2006) was marked by important changes in standing committees process, with the result that the powers of standing committees were broadened so that they might receive both oral and written evidence before scrutinising the Bills under consideration (Cowley 21). Nevertheless, the other reforms to Parliament introduced by New Labour had mostly detrimental effect on its standing. For instance, the introduction of automatic timetabling of legislation served to make each Bill going through pre-arranged sequence of the debates, which narrowed the chances of Opposition to

Midterm Assignment Example | Topics and Well Written Essays - 1500 words - 1

Midterm - Assignment Example The fall of this age credited with the Dorian Invasion, which is believed to have happened around 1100 B.C., and which came to be the conclusive deathblow to the Minoan civilization (Lawall & Maynard 24). According to Greek legend, it was in this age that the Oedipus tragedy evolved, and the story later depicted in Aeschylus' Oresteia played out. This was the time of the famous Trojan War, which left the Trojans and Greeks alike bereft of some of their most beloved and courageous men who died as heroes on the incarnadine battle fields (Lawall & Maynard 34). This was the time of the wonderings of Aeneas and Odysseus after the war, and a time where the inhabitants of Mount Olympus interacted with the humans more than ever. Homer did not live during the time, which is named after him. He is believed to have lived three hundred years after the Homeric Age of which he wrote about in his epic poems (35). He is, of course, our most important literary source for knowledge of this period, com bining the history, religion, myth, and lore of many generations (Lawall & Maynard 37). The political institutions of the Homeric Greeks were exceedingly primitive. ... Practically his only functions were military and priestly. He commanded the army in time of war and offered sacrifices to keep the gods on the good side of the community (Lawall & Maynard 48). Although each little group of villages had its council of nobles and assembly of warriors, of these bodies had neither any definite membership nor status as an organ of government. The duties of the former were to advise and assist the king and prevent him from usurping despotic powers. The  functions of the latter were to ratify declarations of war and assent to the conclusion of peace (Lawall & Maynard 50). Almost without exception, custom took the place of law, and the administration of justice was private. Even willful murder was punishable only by the family of the victim. While it is true that the king for settlement, he acted in such cases merely as an arbitrator, not as a judge. As a matter of fact, the political consciousness of   the Greeks of this time was so poorly developed tha t they had no conception of government as an indispensable agency for the preservation of social order. When Odysseus, king of Ithaca , was absent for twenty years , no regent was appointed in his place , and no session of the council or assembly was held. No one seemed to think that the complete suspension of government, even for so long a time, was a matter of any critical importance. Just before the violent Doric invasions, the Achaeans fought the Trojans of Asia Minor. The chronicle of that war, the Iliad, furnishes the first clear picture of the early Greek religion as it evolved from a blending of Achaean, Dorian, Minoan, Egyptian, and Asian elements. This phase of Greek religion called Homeric, after the

Analysis Of The Financial Report Of Burberry Finance Essay

Analysis Of The Financial Report Of Burberry Finance Essay In this section we are considering the Annual Report 2009-10 of Burberry and will compare Burberrys performance in this year with the previous years. When financial year 2009-10 started i.e. April 2009, Burberrys main issues of concerns were weak and highly uncertain consumer spending environment (because of prevalent recession). Following which groups main goals were established: Expense Reduction Working Capital Management Indeed, they succeeded up to a remarkable level under most strategic, operational and financial measures. Performance of Burberry was among the best relative to its peers either public or private. Highlights of Burberrys important strategic and operational decision in 2009-10:  £50 M cost efficiency program-helped in reduction of Cost of Sales Upgrading wholesale distribution and restructuring the operations in Spain To maximize Gross Margin, continued to reduce assortment size across categories-resulting in increased Gross Margin from 52.1 % to 59.7% Improved inventory management- inventory reduced 36% over year Added 21 stores with 9% space extension These mentioned decisions helped Burberry perform strongly in 2009-10 and resulted in improved financial strength. Key financial strengths during the period are: Total revenue growth 7%- Revenue  £1.3bn Adjusted operating profit increased 22%  £220M increase Diluted adjusted EPS increased 16% to 35.1p Financial Ratios: Financial ratios are widely used be managers, shareholders, creditors and analysts for all kind of purposes. Firth (1975) proclaimed that these can be used for two purposes. These are: To compare companys latest performance with its performance in earlier periods To make comparisons with corresponding ratios of other firms Following is an analysis of the companys financial ratios and a comparison with the preceding year and its peers: Profitability Ratios: Return on Capital Employed (ROCE): Formula: Net profit before tax/ (All shareholders fund + long term debt) Significance: Profits earned from the two major sources of finance for the company viz. investment by shareholders- shareholders fund and financial institutions mostly- long term debt. The effectiveness of the management in utilising the funds is indicated by ROCE. The return for the FY 2009-10 is 26.03%. It shows a significant change when compared to the previous years return of NEGATIVE 2.78%. A quick glance at the operating profit for the last two years reveals the reason behind such a big leap forward. The company has performed tremendously in the last financial year. From an operating LOSS of  £9.9M for the year ended 31 March 2009 to a significant operating PROFIT of  £171.1M for the year ended 31 March 2010, shows the efficient and effective measures the company had adopted over the year. Even if the comparison is made between adjusted operating profits (after considering the exceptional items) for the last two years, we can see a significant difference of  £39.1M (219.9-180.8). All of this shows that the business is effectively earning on shareholders fund and long term debt generated. Ratio Formula Significance Net margin Net profit before tax/ Total revenue The net profit percentage on the entire revenue earned for the financial year Gross margin Gross profit/ Total revenue The gross margin percentage on the revenue earned for the financial year It is the one of the most commonly used profitability ratio. It shows the net margin with respect to the amount of sales. In 2010 it got increased from -1.34% (2009) to almost 13%. In 2009, Burberry reported negative profit i.e. loss. Main reasons behind this were: High Cost of Sales in 2009 (12.5 % higher than 2010) Higher operating cost (6.71%)in 2008-09 which was mainly because of Goodwill impairment in global market(mainly Spain)  £116.2 million Relocation of headquarters Store impairment and onerous lease provisions Increase in NPM shows that Burberry has controlled its costs effectively in 2009-10. It demonstrates effectiveness of Burberry at converting sales into actual profit. Gross Margin: There is an increase from 55.41% (2009) to 62.82%. It shows that Burberry has increased its gross profit by 7.4 p per  £1 of turnover. It is because of higher sales and low cost of sales in 2010. Sales Growth: Formula: (Present sales- Previous sales) / Previous sales Sales increased from  £1200M (2009) to  £1280M (2010) i.e. an increase by almost 7%. Adapted: Burberry Annual Report 2009-10 Sales growth is one of the KPIs. The above graph shows the revenue earned by Burberry in the last five years. The overall growth shows the increasing trend followed by the company in spite of its macro-economic conditions. This proves the companys ability to capture the market being a luxury brand. Liquidity Ratios: They show the companys ability and the ease with which it can lay its hands on liquid cash. In other words, these ratios signify the liquidity position of the company. The main components of these ratios are the current assets and current liabilities which are also the factors that determine the working capital of the company. Current Ratio: Formula: Total Current Assets/ Total Current Liabilities This is the one of the best known measures that indicates the liquidity position of the company. There is an increase in Current Ratio in 2010 as compared to 2009 which indicates that Burberry has improved its ability to meet the payment schedule of its current debts. The change from 1.36:1 in 2009 to 1.53:1 in 2010 shows the efficiency in working capital requirements. Having current assets equivalent to 1.53 times of current liabilities shows a moderate approach from the management not being too aggressive by holding less current assets nor too conservative by holding more current assets leading to high opportunity cost. Quick Ratio/Acid Test: Formula: (Total current assets-stock)/total current liabilities It measures companys ability to meet short-term obligations with its most liquid assets. An acceptable ratio should be at least 1:1. However in 2009 it was .87 which is not sufficient. An increase from .87 to 1.2 over a period of one year demonstrates that Burberry has stronger liquidity position than it had before. Shareholders POV: Collier (2009) state that Dividends are a decision made by directors on the basis of the proportion of profits they want to distribute and capital needed to be retained in the business to fund growth. (p.114) Shareholders invest in a companys stock with the motive of higher returns through dividends or capital gains. The idea of investing in the shares of a company may give higher returns compared to the other secure investments like bank. However, the risk is also more. The investors measure the prospects of a stock under various scales. Few of them are as follows: Dividend per share (DPS): Formula: Dividends paid/ number of shares Often DPS is the measure of a companys performance because it indicates how profitable a company is over a period of time. In Burberrys case, its excellent performance is reflected through the increase in the dividend per share paid to shareholders. As at 31st march 2010, Burberry had 435,024,782 ordinary shares, of which 77,215 were held as treasury shares, shares that have been bought back by the issuing corporation and is available for retirement or resale; it is issued but not outstanding; it cannot vote and pays no dividends. (http://wordnetweb.princeton.edu/perl/webwn?s=treasury%20shares) As per annual report, Burberry has proposed dividend of  £45.7M, which is 20% higher than last year ( £37.7M). This increases its dividend per share to 10.5p from 8.65p. It also increased interim dividend, which is declared and distributed before the calculations of companys annual earnings, per share slightly from 3.35p to 3.50p during year. So, the total dividend per share is 14p for the year ending 2010 giving a 17% increase from 12p in 2009. Dividend Yield: Formula: Dividend per share/ market value per share It shows the relationship between dividends and market share by expressing a companys dividend as a percentage of its share price. However, dividend yield fluctuates with share price. Burberrys shares price was 276.25 on 27 March 2009 and 725.00 on 1 April 2010. (http://www.google.co.uk/finance?client=obq=LON:BRBY) Using its share price value at financial year end, dividend yield is 1.93% in 2010 and 4.3% in 2009. This need not represent that Burberry has decreased its value in investors eye. This fall is because of 163% increase in share price of Burberry, which made increase in dividend less significant. Dividend Payout Ratio: Formula: Dividend paid / (profit after tax i.e. net income) or the ratio of dividend per share and earnings per share. It helps in predicting how well earnings support the dividend payments. Investors seeking high current income and limited capital growth prefer companies with high Dividend payout ratio. However investors seeking capital growth may prefer lower payout ratio because capital gains are taxed at a lower rate. (http://en.wikipedia.org/wiki/Dividend_payout_ratio) For 2010: it is 14/36 = 38.88 % 2009: 12/31= 39.2% It is almost similar in both years, which shows that Burberry is maintaining the balance between interest of shareholders and expansion of business. Earnings per share (EPS): Formula: profit after tax or net earnings/ number of shares Burberry calculates EPS on the basis of both diluted and basic. When all convertible securities such as convertible preference shares, convertible debts, convertible debentures and warrants exercised; number of outstanding shares increases. This is called Diluted weighted average number of shares, the basis of Diluted EPS. As number of outstanding shares increases, Diluted EPS is always lower than Basic EPS. It is more accurate to use a  Diluted EPS over the reporting term; because the  number of shares outstanding can change over time (We can observe this in annual report that Burberry has always mentioned diluted EPS). In 2010, Diluted weighted average number of shares was about 442 million with dilution effect of 9.3 million. In 2009, it was 438.1 million with dilution effect of 6.8 million. Earnings were  £81.4 million in 2010 as compared to loss of 6 million in 2009, because of reasons mentioned before. This leads Basic EPS to 18.8p (-1.4% in 2009) and Diluted EPS to 18.4p (-1.4% in 2009). Using details of exceptional items in note 4 of annual report 2009-10, adjusted earnings are  £155.2million and  £132.1 million for 2010 and 2009 respectively. This leads to Adjusted Basic EPS to 35.9p (30.6p in 2009) and Adjusted Diluted EPS to 35.1 (30.2 in 2009). Increase in Adjusted Diluted EPS by 17 % is mainly because of 17 % increase in adjusted profit as weighted number of shares is almost same. This increase represents better performance of Burberry in 2009-10. Price-Earnings (P/E) Ratio: Formula: Market value per share/ EPS It is the valuation of companys current share price compared to the per share earnings. This ratio reveals the popularity of a stock because it reflects how much people are willing to pay for it (http://library.thinkquest.org/3298/NoFrames/help/glossary.html). The P/E ratio can be interpreted as number of years of earnings to pay back purchase price, ignoring the time value of money (http://en.wikipedia.org/wiki/P/E_ratio). For 2010 P/E ratio is 725/35.9= 20 and for 2009 it is 276/30.1= 9.2 There is almost two times increase in P/E ratio. This is because of increase in share price by 163%. This increase makes Burberrys stock more attractive than previous year. Bottom line: The above analysis from a shareholders POV leaves an overall positive impact on the investors or the potential investors. Considering the shareholders return, profitability, growth rate the company has been maintaining and the increasing trend in the share value, it would be more than likely a wise decision to invest in the Burberrys stock. Gearing effect: Tools used: Gearing ratio: long-term debt/ (shareholders funds + long-term debt) This ratio gives the proportion of funds which is borrowed from outside in the entire capital employed, than from the shareholders (through issue of shares). This is also called the leverage ratio. The method of introducing debts in place of equity is referred to as trading on equity leverage Collier (2009) states that Higher the gearing, higher is the burden on repaying the debts and the associated interest. Also, if profits turn down, there are substantially more risks carried by the highly geared business. (p.108) However, there is a relationship between risk and return which is to be analysed. Higher proportion of long term debt signifies two issues: Higher return for shareholders Less tax burden Burberry in 2009 has a gearing of 52.72%. For the year ending 2010, it is 43.06% i.e. 56.94% of equity. This shows that their almost half of the sources of finance is through long term borrowings. The effect of generating finance through debts than through equity is shown on the return the shareholders are enjoying. It also shows the company has been closely monitoring tax burden. This is because the provision made for the interest obligation/payment is reflected in reducing the profits, thereby a lower tax on lower profits. However, the debts carry with them the interest obligation and repayment commitments. This way the company has been trying to balance between debt and equity. In the financial year 2009-10, the company has reduced its debt content trying to be a little conservative. The capital structure can be considered to be moderate. Interest cover: Profit before interest tax/ interest payable This represents the profit available, to meet the interest obligation, in terms of the interest payable (number of times). Higher interest cover leaves less strain on the profits and giving a cushion with profit AFTER interest and before tax. Profit before interest and tax: Interest payable: For 2010:  £171.1M  £6.2M For 2009:  £ (9.9) M Loss  £13.4M Interest cover for the year 2009-10 is 27.6 times. This is a highly impressive cover leaving a comfortable position. Considering the loss in the previous year and still maintaining this is very efficient. The decrease in interest commitment this year can be related to the reduction in the debt content of the capital structure (gearing ratio). Financial Risk Management Overview: Burberry deals with variety of financial instruments viz. derivatives, short term and long term borrowings, trade receivables/payables etc. It also combines with variety of financial risks. However, the risk management is carried out by a dedicated Group Treasury under the approval of Board of Directors. Guidelines/ Tools: To reduce the financial risk and ensure sufficient (OPTIMAL) liquidity position Work closely with the business requirements Uses derivative instruments to hedge certain risk exposures Market Risk: Foreign Exchange Risk: Risk: Multiple foreign currency transactions because of international operations Tools/Policies: Entering into forward foreign exchange contracts Hedge anticipated cash flows in each major foreign currency Monitor the desirability of hedging the net assets of the overseas subsidiaries when translated into Sterling for reporting purposes. At 31 March 2010, the Group has performed sensitivity analysis to determine the effect of non-Sterling currencies strengthening/weakening. Price Risk: Risk: Fluctuations in employers national insurance liability due to movements in the share price. Tools/Policies: Entering into equity swaps at the time of granting share options. Monitor the fluctuations in the liability on a continuous basis. Cash flow interest rate risk: Risk: Fluctuations in the interest rates. Tools/Policies: Use interest rate swap derivatives to manage fixed and floating rate borrowings within limits. Credit Risk: Risk: Possible bad debts. Tools/Policies: Wholesale sales only with appropriate credit history/check. Retail sales only through cash or major credit cards. Maximum credit risk exposure is classified separately and attended. Liquidity Risk: Risk: Maintaining sufficient cash balance. Tools/Policies: Maturity profile is established All short term creditors, accruals, bank overdrafts and borrowings within one year. Compliance with all the committed banks credit guidelines. Capital Risk: Risk: Returns to shareholders and other stakeholders; Maintain Going concern. Tools/Policies: Maintain strong credit rating. Appropriate capital structure mix debt and equity. Adjustments according to the economic changes and its strategic objectives. Analysis of the above: All of the above represents the measures adopted by Burberry to meet the Financial Risks. The company having a dedicated risk management team in order to face the risks gives a confidence in the minds. However, they should be continuously aware of the fact that a large corporate like Burberry will have to attend to growing/new risks by anticipating well in advance. They may include a deeper analysis in the following areas: Working capital cycle: Inventory management, EOQ/JIT methods, optimum cash model. Financing needs. Other sources of finance can be analyzed like debt factoring. Capital budgeting decisions before expanding or investing on a project. WACC Weighted average cost of capital is to be considered before deciding the capital structure. Comparisons with the market rate and interest rates prevailing. The overall financial risk management shows the companys ability to address almost all the possible risks efficiently and effectively. Conclusion: With comparison to most of the essential parameters, it can be concluded that Burberry plc showed a promising performance in the last completed financial year 2009-10. Not just with regard to the financial performance, but also in satisfying the shareholders with competent returns. A birds eye view shows the company has made a great comeback this year with a significant profit. However, a deeper penetration/analysis into the last year financials reveals that the loss made in 2008-09 is because of high cost of sales with a difference of  £59.8M compared to the recent year, goodwill impairment charge to the extent of  £116.2M, relocation of HQ costing around  £7.9M and other expansion charges. Also, the above report shows the companys transparency in complying with the Corporate Governance and commitment in attending to its Corporate Social Responsibility, employees welfare etc. Burberry showed continuous interest in brand integrity, being a true leader in luxury brands, and market growth through expansion. Indeed, highly motivated. All this leads to only reaffirm the companys continued efforts in excelling beyond horizons among its peers financially, ethically, and morally!

Among the Impostors :: essays research papers

I have just read the book titled Among the Impostors. The author of this book is Margaret Peterson Haddix. This book is a sequel to Among the Hidden. In Among the Hidden, a boy named Luke is hiding from the world because he is an illegal third child. He shouldn’t exist because the government limited the amount of children to each family to two because of the decreasing amounts of food. Luke gets sick of hiding and wants to make a difference, so he gets a fake I.D. with the help of a neighbor and goes to a boarding school. Among the Impostors continues on with Luke’s life in the boarding school, and shows that no matter how people act, they can be very different on the inside. At the boarding school, there is a boy named Jason who gives Luke a very hard time. He has him do push-ups and a bunch of other pointless tasks just in order to get into his bed. Luke is getting sick of it, and one day, he notices that a door is open in the school. It shows the outdoors, and Luke knows that’s his only chance of escaping the wretched school. Once he gets outside, he notices that it’s surrounded by a huge forest that stretches for miles. He ventures outside and makes himself a pitiful garden, but he feels good about it anyway. That was the only thing that kept him there. Then one day he went outside and found that his garden was ruined by people who had stomped all over it. Luke cooks up a plan to bust the people that ruined his garden. He sneaks out during the night and waits for the people to arrive outside. He finds that one of them is Jason. As he eavesdrops on their conversation, he finds out that they’re all third children too. Once I finished this book, I felt irritated that Luke chose to stay at the school even though he was told he could leave by a trusted neighbor and life-saver (p. 169). He wanted to stay at the school to help all of the third children there live their life without fear of being discovered. I don’t see how he could help the world like he dreamed by having every boy in the school contribute to the garden out back (p. 172). I think he would have done better if he had accepted the offer to go to a real and good school instead of staying at the boarding school with a bunch of low-social boys that would give Luke a bad influence.

Essay on the importance of education Essay

The term education is derived from Latin, word ‘educere’, ‘educare’ and ‘educatum’ which means to ‘to learn’ , ‘to know’ and ‘to lead out’. Education is the process of receiving or giving systematic instruction, especially at a school or university: a course of education, the theory and practice of teaching. A body of knowledge acquired while being educated. In some occasions I would personally say that I am not always learning, this can be caused by: lack of focus; teacher being absent; cover teachers; teacher being unable to teach the subject well; destructive students or no interest in a topic. French is a pleasant subject to learn as it comprises a lotof active and team work which requires a lot of studying and patience. During the period of exams, later on the month of May 2012, I found myself talking and disrupting the class (due to the lack of focus) which was odd as French was one of my strongest subjects and a few in which I enjoyed. The reason for this was that my teacher was absent and we had a cover teacher which I imminently then thought that I had the privilege to mess about for there will be no consequences but I was wrong†¦ The only person this affected was me myself and this caused me into failing French with an E. One day in my Science class around mid March, we were studying momentum and I found myself tuned in with the lesson (which doesn’t happen often) and was fully focused which resulted to improving my understanding of the topic and Iaccumulated more information about it. The reason being was that the lesson was a mixture of practical active learning and theoretical learning. This made me to enjoy, have fun and partake in the lesson. I really did learn a lot despite my weakness and hatred for science. ‘Education is life itself’ Some people would agree with the statement that education is life itself and utter that education is the most powerful weapon and the key to success. Referring to the bible in Ecclesiastes7:12 ‘For the protection of wisdom is like the protection of money and the advantage of knowledge is that wisdom preserves the life of him who has it’. This quote may suggest that the survival of one may depend upon their knowledge. Being educated is an advantage in life so therefore we should cherish and preserve it as we would protect money. On the other hand, other people may disagree with this statement and say that education isn’t life itself for some people are not well educated but have managed to become successful,people such as:Abraham Lincoln, John D. Rockefeller, Amancio Ortega Gaona and many more. This comes to show that knowledge isn’t just the approval on a paper (degree) but can be physical and specialized skills. Also other unfortunate people mostly in LEDCs (less economically developed countries) such as: Egypt, Mali, Haiti, Ghana,Ukraine, Libya, Vietnametc but does this mean that due to lack of being educated results to individuals from these countries to not be successful ?Of course not. Finally, in my belief I think that education is very beneficial to all. From my personally experience I would say that living does in fact educate me, why? In the past I made mistakes that I had to learn from such as revising a week before an exam to major mistake as forbidden sins from the bible (The 10 commandments) but that’s alright because life never came with instructions. We all came to learn, to conquer and to succeed. Robert M. Hutchins aforementioned: ‘Education is not to reform students or amuse them or to make them expert technicians. It is to unsettle their minds widen their horizons inflame their intellects teach them to think straight. If possible’ sowhy is it that the older generation put a lot of pressure on the younger generation in other words the ‘youths’ to study hard to become doctors and lawyers? We cannot all be doctors and lawyers for God gave each individual a conscious to help us make right and wrong decisions and to follow our hearts. Education is life itself some would say, but I say education is a high light to life ‘the key to success. Victor Hugo ‘He who opens a school door, closes a prison.’

According To Kizlik (2014), objectives That Are Used In Education,

According To Kizlik (2014), objectives That Are Used In Education, According To Kizlik (2014), objectives That Are Used In Education, Whether They Are Called Learning – Coursework Example Educational Objectives in Health Provision Health providers, nurses in particular, always have to design programs that are aimed at educating the community; the patients and their various families. These objectives can either be long term or short term. The relevance of such programs is in the creation of awareness to the community on different health issues. The objectives formulated by the health must comply with Kizlik (2014) idea that objectives are terms that refer to descriptions of observable behavior that are used to make the judgment about learning. In designing the educational objectives that articulate the needs of both the patients and the families, Kizlik’s postulate of condition, verb and criteria parts of the objective must be strictly adhered to. All the three parts of the objective must be flexible, doable and achievable by the patient. Health providers must also consider engaging the patient and the family to take part in formulation of the educational progra m objectives. By engaging the community, the health providers open up the avenue for obtaining the real situations on the ground. For example, if the educational program was intended to change the behavior of the patient, the family must be involved since they will be with the patient most of the time. In the case of changing the behavior of the whole community, the health providers would want to come up realistic and achievable objective. This is where the community comes in; both the directly affected and the indirectly affected groups. Nurses must, therefore, establish the main behavior problems by inviting the suggestions of the community. This way, the educational objectives shall be relevant and attainable.ReferenceKizlik, B. (2014). How to Write Learning Objectives that Meet Demanding Behavioral Criteria. Retrieved from adprima.com/objectives.htm

Essay Nespresso SA

Essay Nespresso SA Essay Nespresso SA Essay Nespresso SANespresso SA  is one of the most successful brands renowned for its coffee machines manufactured and supplied internationally. However, in spite of the tremendous success of the brand in the late 1980s – early 1990s, the brand has faced a considerable downturn in its development. At this point, the introduction of technological innovations has played the key part in both the rise and downturn of the brand. To put it more precisely, Nespresso became one of the first companies introducing coffee machines for household use. In addition, the company conducted aggressive international market expansion policy to expand its global market share. However, since the mid-1990s, the company has faced the steady decline of its brand because of the lack of innovations and by the early 2010s, the brand apparently needs the revival because its rivals have already started to outpace the company and push it out of the traditional markets, where the position of Nespresso was traditionally strong.History of the brandNespresso  SA, a Nestlà © Group company was founded in 1986 being inspired by Luiggi Bezzera’s original espresso coffee concept, it developed a revolutionary system of portioned, encapsulated coffee and dedicated machines that interacted to deliver perfect coffee (Nespresso, 2014). The company offered the technology that had four initial coffee varieties including Capriccio, Cosi, Decaffeinato  and  Bolero  (now known as  Volluto), and the first two machines offered (the C100 and C1100) were designed to resemble mini espresso machines. The target markets of the company mirrored the concept of the coffee machine created by the company which was first tested and launched in the office coffee sectors of Switzerland, Japan and Italy as the major target markets for Nespresso.Another important stage in the development of the company was 1989, when The  Nespresso  system was introduced in the Swiss household market with Turmix as machine partner. The company offered the new product offering the coffee making service to customers, who used the new product. The  Nespresso  Club was created to offer a range of exclusive and personalised customer services (Nespresso, 2014). At this point, it is important to place emphasis on the fact that the personalised approach to each customer has become a distinctive feature of the Nespresso  brand since that time on (Nespresso, 2014). Moreover, it was during the late 1980s the company has grown particularly concerned with the brand image and branding of the company and its products. In terms of the new branding policy, the first  Nespresso  consumer mailing was introduced with a member-get-member offer (Nespresso, 2014). The growth of the company at this stage was entirely consumer driven that revealed the importance of customers for the company and its branding strategy.The next stage in the development of Nespresso brand was 1991, when the first  Nespresso   capsule recycling program was introduced in Switzerland with 34 collection points (Nespresso, 2014). At this stage, the company chose a different coffee machine production strategy. While  Nespresso  developed its own machines, Eugster became their exclusive producer (Nespresso, 2014). At this stage, the company had started the new marketing policy using the full potential of its coffee machines as a successful marketing product.  Nespresso  was introduced in the household sectors of France and the United States to mark the first major expansion of the company in international markets. The US as well as French market became the major markets for Nespresso by that time. Furthermore, the distinctive marketing depicting  Nespresso as the ultimate coffee experience played a key role in inspiring the brand’s development. In such a way, the brand expansion involved the strategy of entering new markets to make Nespresso the global leader among coffee machines manufactu rers.The next year the company expanded its services introducing chocolate squares which were introduced as an accessory. The next year,  Toscana  (now  Arpeggio) became the sixth  Nespresso  coffee variety after Roma (Nespresso, 2014). The second line was installed at the Nestlà © factory in Orbe to double capsule production capacity and meet demand (Nespresso, 2014). The company attempted to use the diversification of its products and services to attract more customers. However, at this stage the company has started to ignore technological innovations and its brand image as an innovative company offering exclusive products has started to decline, especially during the late 1990s – early 2000s (Newel, 2011). Today, the brand needs revival and the company should consider the introduction of the new product, the new Nespresso Coffee Machine designed as a tap built into any tabletop and controlled by smart phones (Pine Gilmore, 2009). The introduction of the new pro duct will contribute to the revival of the brand that has been in decline since the mid-1990s because the new product will match the overall progress of the technology and new opportunities the technologies offer to consumers (Masterson Picton, 2004).The advertising and/or other agencies involved in developing the brand communicationsRecently the company has contracted Deep Focus to promote its brand and conduct the promotional campaign of its new products. In this regard, the Deep Focus is the good choice for the promotion of the new Nespresso Coffee machine because this advertising agency focuses on the use of the full potential of social media and use of the contemporary telecommunication systems and mass media to reach the target customer group of the company (Mohrman, 2008). As the company targets at the younger customer group, the Deep Focus should focus on this group and promote the new Nespresso coffee machine to make them buying the new coffee machine which is the innovati ve product in the market so far.The current marketing materialThe current marketing material allows the company to create the new product. On the one hand, Nespresso has well-developed technology of the production of the high quality coffee machines which the company may use as the basis for the design and creation of the new coffee machine (Volti, 2005). On the other hand, the development of the contemporary electronics, information technologies and telecommunication systems allows the company to maintain the communication between users’ smartphones and virtually any other device equipped with the up-to-date technologies. In such a way, at the moment, Nespresso just has to combine the available technologies and the existing coffee machines which the company keeps manufacturing en mass. The combination of existing coffee machines of the company along with new technologies that allow maintaining the interaction between the coffee machine and smartphones of customers.Essay Nesp resso SA part 2

All art is a lie that helps us see the truth more clearly- Pablo Essay

All art is a lie that helps us see the truth more clearly- Pablo Picasso - Essay Example When we say art, we mean something that a person can look at and interpret. Art is a visual perception of its author; it highlights the main subject to depict its reality. The exaggeration of the illusion can be considered as a lie that reveals the truth behind the scenes much more clearly through the art performed, painted or sung. (Simon, 2007) In his own quote, Picasso illustrates an artistic touch to call art, a lie. By that he meant the illusion, the self created image of any topic and the observed scenario which an artist creates to send the message through. Hence, using all the human senses, the artist uses self expression to make analysis about the truth that lies behind the mirror. It is on one part the mirror image but much more of a deep scan that illustrated all the parts. Many artist find that in variety of subjects, much like Yehudi Menuhin, the famous American violinist on NY Times explained: â€Å"I look upon music as the most complete exposition of the body and spir it of man – and of our universe† (NY Times, June 1986)... , The Romantic Manifesto, 47) The excerpt explains it very deeply of how no real apple can actually look like the painted apple but yet gives the direct image of how delicious and ripe the apple is. Art hence covers dimensions of a human brain for it to pursue its desires. Arts that include poetry and theatre performance play a major role in defining how a simple lie, much like Ayn Rands’ Visual Abstractions can sum up major historical events and move people to find the truth amongst the words. In stage direction, now a day, art is being judged on the amount of hits it can get rather the quality of work and the meaning behind the scenes. It is taken as a time past rather, as Harold Clurman says â€Å"as a real communication through the mask of a fable†. (Lies like Truth, 1958) Poetic illusions As Art discovers many dimensions, it plays with words and thoughts, creating images and lies that a person is inclined to look into, to make it a reality. Shel Silverstein through is versatile poetic sense creates an illusion of a tree that can speak, â€Å"Once there was a tree... and she loved a little boy. And every day the boy would come and he would gather her leaves and make them into crowns and play king of the forest. ....... and the tree was happy But the time went by And the boy grew older. And the tree was often alone† (The Giving Tree) In this exemplary piece of art, the poet looks into a lie that is a tree that can speak, but infact is much more than that, for many the tree can be our family on which we stand by every day and they are there to help. Through art, Silverstein emphases that how reality revolves around how human wants are never ending but by the end of everything we go back to nature, where it all start. Too look behind the lie is the art of the reader,

Modern Judaism Essay Example | Topics and Well Written Essays - 1500 words

Modern Judaism - Essay Example A second covenant was made some 450 years later when Moses led the Jews from slavery out of Egypt back to Cannon. It was during this exodus upon Mount Sinai that God told Moses the ten commandments, now contained in the Torah or Old Testament, the first five books of the Bible Genesis, Exodus, Leviticus, Numbers, and Deuteronomy . It was here upon Mount Sinai that saw the beginnings of the structured religion, Judaism. The religion of Judaism is ethical; when the Israelites accepted the ten commandments they committed to follow a religious code of law. The Torah contains 613 commandments from God which teaches them how to act and think about life and death. The religion of Judaism believes that God will judge people by their actions alone this leads to a fundamental difference between Christianity and Judaism. Christians believe that all humans are born with original sin and that this sin cannot be absolved by oneself but that the sacrificial death of Jesus was atonement for all humans' sins. Jews on the other hand do not believe in original sin but believe that all have good and bad in them and that they have the choice of moral actions, Jewish principles are that humans themselves decide how to act and it is their actions that will be their salvation in the face of temptation, whereas in Christianity even the thought of temptation is classed as a sin. 1 Judaism is monotheistic; there is only one god, in Christianity the idea of trintarianism exists, God the Father, God the Son an God the Holy Spirit. Whilst all three represent the one God Almighty in Judaism God cannot be divided. Whilst both religions share the books contained in the old testament many Jews see that Jesus replaced Jewish law. The New testament containing the Gospels and scriptures of Jesus' disciples is not believed or is part of the Hebrew Bible. Whilst Jews do not deny the existence of Jesus they do deny that he was the messiah as they argue he did not fulfill what the prophets had said he would. The coming of the messiah or the Moshiach is a belief held by all Jews however the belief is that when he comes there will be peace created on earth, Jesus was not on this earth in times of peace and there has never complete global been peace since his death. Jewish faith proclaims that every generation has a person born who could potentially be the moshiach but only if the time is right will that person become the messiah however if they die before their mission is completed then he has still yet to come. 2 http://www.jewfaq.org/moshiach.htm Moshiach: The Messiah 2. History and Background the Worldview (2 pages) a. Describe the origin or beginning of this religion/cult. b. What are the major believes of this religion/cult and how do they contrast with the beliefs of Christianity c. Be sure to address the beliefs of your chosen worldview concerning Jesus Christ, their concept of salvation, and how salvation is attained. Instructions: RESEARCH PAPER At the end of the fifth week, you are required to turn in an academic research paper. REQUIREMENTS for the PAPER 1. Length - The Paper should be AT LEAST 5 -7 pages of text (to meet the minimum the 5th page MUST be a full page). If your paper does not meet the 5 page minimum