Who benefits from take over resistance tactics free essay sample

According to the finance literature, a takeover is a process whereby a firm acquires another firm, resulting in a change of the controlling interest of the acquired firm. Takeovers can occur through acquisitions, proxy contests and going-private transactions. They can be friendly when the management of the target firm is receptive to the bidder offer or they can be hostile when target firm managers resist takeover attempts by using defensive tactics. According to Ross et al (2010), takeovers can result in change of firm policies, layoffs, terminations, or overhaul of business operations. To analyze who benefits from a takeover resistance tactic, we should first examine the reasons or motivations of the defensive tactic by target firm managers. According to Ruback (1987), managers resist takeovers for the following reasons: Managers believe that firm has hidden values, this is due to the private information they have about the firms future prospects that is not available to the public and when managers assess the takeover bid by comparing the offer price with what they believe is the fair value of the firm (incorporating the private information) and the offer price turns out to be less, managers will oppose the offer. We will write a custom essay sample on Who benefits from take over resistance tactics? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Managers believe the resistance will increase offer price, therefore, their attempt to resist slows the bid and create opportunity to an increase of the tender offer as the bidder after an initial unsuccessful friend offer, tries to buy through a tender offer and if not successful, try the auction for the firm. According to Ruback (1983) cited in Ruback (1987), the final offer price exceeded the initial offer price by 23% in 48 competitive tender offers between 1962-81. Managers may want to preserve their jobs and positions, especially when they are ware that the bidder intends to replace the target firm’s management. Target firm managers use a variety of defensive tactics to avoid takeovers, from altering the terms of directors where managers amend charters of the firm to make takeovers more difficult; golden parachutes related to severance packages payable to managers in the event of takeover, increasing the cost of acquisition; poison pills provision that are deterrent to the acquirer diluting for example the acquirers share in the firm. Other tactics after the company in in play include greenmail and standstill agreement, white knight and white squire, recapitalization and repurchases where managers issue debt to repurchase shares raising the market share price, making it less attractive to the bidder; exclusionary self-tenders and asset restructuring. These tactics are built by management for self-protection reasons, being severe, (blocking takeovers) or soft tactics with no substantial impact on the offer price. However, empirical evidence shows that although manager’s defensive tactics may sometime rarely shareholders by increasing wealth, in general, these tactics do not have a positive impact in the share price of the target firm. According to DeAnglelo and Rice (1983) cited in Ruback (1987. p56-57), they found no evidence of share price reaction to adoption of corporate charters amendment when analyzing 53 firms using staggered boards as well as the effect of super majority provision. Ho (1986) cited in Ruback (1987), found no evidence of existence of abnormal return for a sample of 23 poison pills. This conclusion is also consistent with findings of Kidder, Peabody and Company for a sample of 167 poison pills where no stock price change was observed. Evidence by Dann and DeAngelo (1983) proves that there is a negative stock price reaction with the use of standstill agreements by -4% whereas, greenmails, cause a negative stock reaction of -3%. Dann and DeAngelo (1986) cited in Ruback (1987), analyzed 20 transactions where they found that acquisitions and divestitures, reduce by 2% the share price of the target firm. In general, empirical evidence supports the idea that manager’s defensive tactics are harmful to the target firm value. For example, Bates et al (2012) reported that Microsoft Corporation offered USD 47 billion to Yahoo in 2008, a premium above 60% however; this offer was rejected by Yahoo executives. Following Microsoft? s withdrawal of the acquisition bid, Yahoo? s shares dropped by 15%; the CEO of Yahoo was later replaced for this costly and selfish behavior. According to Bradley et al (1988) cited in Devos (2009), companies merge to benefit from synergies. For a sample of 236 successful tender offers from 1963-1884, they noted that the equity value for the combined firms increased by 7,4% in average. Synergy is when the combined firm value exceeds the value of the acquirer and acquired firm before the acquisition. Therefore, synergy is attached to the incremental cash flows, coming from revenue enhancement, cost reduction, tax gains and reduced capital requirements. According to Brealey (2003), acquisitions can happen in three basic forms, merger or consolidation, acquisition of stock and acquisition of assets. The merger is the incorporation of assets and liabilities of one firm by another and the acquirer maintains its name whereas the acquired firm ceases to exist. The main advantage of this method over others rely on the minimum costs incurred on mergers as they do not require the transfer of title deed of individual assets of the acquired firm to the acquiring firm which is costly provided that the merger is approved. In addition, in the transfer of assets form according to Ross et al (2010), minority shareholders often cause problems to the majority shareholders. The acquisition of stock as we saw above, can be costly to the bidder because of the defensive tactics used by the target firm managers as an attempt to avoid the takeover. Therefore, the outcome aimed by the acquiring firm may not be achieved as the tender price may be pushed us, above the real market value of the acquired firm.

Macroeconomics Test 2 Review Essays - National Accounts, Free Essays

Macroeconomics Test 2 Review Essays - National Accounts, Free Essays Macroeconomics Test 2 Review CHAPTER 7 GDP (Gross Domestic Product): Aggregate output as the dollar value of all final goods and services produced within the boarders of a country during a specific period of time Expenditures Approach: The method that adds all expenditures for all final goods and final services to measure the GDP GDP= C + Ig + G + Xn oPersonal Consumption Expenditures (C): Covers all expenditures by households on goods and services oGross Private Domestic Investment (Ig): Expenditures for newly produced capital goods and for additions to inventories Net Investment= Gross Investment Depreciation oGovernment Purchases (G): All government expenditures on final goods and all direct purchases of resources oNet Export (Xn): Exports (X) Imports (M) Income Approach: The method that adds all the income generated by the production of final goods and final services to measure the GDP Wages Rents Interest Profits Statistical Adjustment Intermediate Goods: Products that are purchased for resale or further processing or manufacturing. Value Added: The values of a product sold by a firm less the value of the products (materials) purchased and used by the firm to produce that product Net Domestic Product: The nations total output available for consumption or additions to the capital stock. NDP= GDP Consumption of Fixed Capital (Depreciation) National Income= (NDP Statistical discrepancy) + Net Foreign Factor Income Personal Income= National Income Taxes on Production and Imports Social Security Contributions Corporate Income Taxes Undistributed Corporate Profits + Transfer payments Disposable Income= C + S Nominal GDP: GDP based on the prices that prevailed when the output was produced Real GDP: GDP that has been deflated or inflated to reflect changed in the price level Price Index: A measure of the price of a specified collection of goods and services, in a given year as compared to the price of an indentical collection of goods and services in a reference year Price Index Price= (Price of market basket in specific year) / (Price of some market basket in base year) Chapter 8 Economic Growth: An increase in Real GDP occurring over some time period; An increase in Real GDP per capita occurring over some time period Real GDP Per Capita: The amount of real output per person in a country Real GDP per Capita= Real GDP/ Population Rule of 70: Provides a quantitative grasp of the effect of economic growth It finds the numbers of years it will take for some measure to double, given its annual % increase, by dividing that percentage increase into the # 70 Approximate # of years 70 / required to = Annual Percentage double real GDP Rate of Growth Chapter 9 Four Phases of the Business Cycle: Peak, Recession, Trough and Expansion Peak: Business activity is at maximum, price level rises, economy is at or near full employment, level of real output is at or close economys capacity Recession: Decline in total output, income, and employment Trough: Output and employment bottom out at their lowest levels Expansion: Real GDP, income, and employment rise oInflation can occur in expansion because there can be more spending than production capacity Unemployment Rate: The percentage of the labor forced unemployed Unemployment Rate= Unemployed / Labor Force oUnemployed= Labor Force Employed Three Types of Unemployment: Frictional Unemployment, Structural Unemployment, and Cyclical Unemployment Frictional Unemployment: Workers who are either searching for jobs or waiting to take jobs in the near future Structural Unemployment: Workers who skills are not demanded by employers Cyclical Unemployment: Caused by sufficient spending and begins in the recession phase Natural Rate of Employment: The economy is said to be producing its potential output Opportunity Cost of Unemployment? Lost production output GDP Gap= Actual GDP Potential GDP Okuns Law: For every 1% by which the actual unemployment rater exceeds the natural rate, a negative GDP gap of about 2% occurs Consumer Price Index: Measures the prices of a fixed market basket of some 300 goods and services bought by a typical consumer CPI= (Price of the most recent market basket in the production year) / (Price estimate of the market basket in 1982-1984) X 100 Rate of Inflation= (CPI from one year CPI from previous year) / (CPI from previous year) X 100 2 types of inflation: Demand-Pull and Cost-Push Demand-Pull Inflation: Too much spending chasing too few goods Cost-Push Inflation: Increasing the price level resulting from an increase in resource cost Per-Unit Production Costs: The average cost of a particular level of output Per-Unit Production Cost= (Total Input Cost) / (Units of Output) CHAPTER 10 Income Consumption and Saving have a direct or positive relationship Disposable Income=

Italian Adjective Order

Italian Adjective Order In general  Italian adjectives  follow the  noun: È una lingua difficile.  (It is a difficult language.)Marina à ¨ una ragazza generosa.  (Marina is a generous girl.) Certain common adjectives, however, generally come before the noun: Anna à ¨ una cara amica.  (Anna is a dear friend.)Gino à ¨ un bravo dottore.  (Gino is a good doctor.)È un bruttaffare.  (Its a bad situation.) The most common adjectives that come before the noun are listed in the table below. Italian Adjectives That Precede Nouns bello beautiful bravo good, able brutto ugly buono good caro dear cattivo bad giovane young grande large; great lungo long nuovo new piccolo small, little stesso same vecchio old vero true But even these adjectives must follow the noun for emphasis or contrast, and when modified by an  adverb: Oggi non porta labito vecchio, porta un abito nuovo.  (Today he is not wearing the old suit, he is wearing a new suit.)Abitano in una casa molto piccola.  (They live in a very small house.)

Regressing Japans economic growth Literature review

Regressing Japans economic growth - Literature review Example This article is therefore relevant because it addresses the key points related to the yen/$ exchange rate and points to the prolonged stagnation in Japan. Hamada and Okada, in this article argue that in the 1980s, Japanese economy was marked by a phase of a speculative bubble. In the course of the 1980s, the state had a large commercial surplus with the U.S, exporting far much than its imports. Japan gained from a devalued currency, meaning that its exports became cheaper for the United States. Japans exports really flourished during this era till the leading American policy elites got concerned about the â€Å"disruptive force† of Japan in American economic living. To get a solution to this commercial imbalance, the Japanese regime permitted the yen to appreciate alongside the dollar in early 1986. This shortly led to an economic contraction and a decrease in the export-based electronics, automobile, and steel industry. The Central Bank of Japan made an effort to alleviate a weakening economy by lowering the official interest, which resulted in the historical documentation of high stock prices that were at the peak in 1989. The article further suggests that the large commercial surpluses, the low interest rates, and the strong yen swelled Japan’s monetary supply. The auto industry, which was the countries stronghold in industrial economy had dominated the markets, and wanted speculative outlets for their huge savings. On the other hand, banks were enthusiastic to lend money to people to purchase real estates. In 1987, when the gross national product (GNP) in Japan was 345 trillion yen, monetary assets went up by 382 trillion yen, as the land assets increased at 374 trillion yen. In addition, the banks... Even though Japan went through a crisis especially the worldwide recession in 2008, its present depression can be traced back to late 1980s and early 1990s as well as the collapse of the Equity markets and its housing. Many economists have researched on the â€Å"lost decade†, developing arguments about the causes and suitable policy responses that explain the issue. According to Schaltegger, C. A., & Weder, M, 2013, the monetary policy of the Bank of Japan at the end of 1980s is similar to the Federal Reserve’s strategy before the global financial catastrophe. Interest rates had been maintained at uniquely low levels for some good time even though the economic growth was strong and robust price increases in a number of financial assets were present. Interest rates then went up decisively and repeatedly from 2.5% to 6% in a period of 16 months. In the same way, the US learned the most important lessons as a result of the great depression; that monetary policy was too procyclical and restrictive, resulting to a downward spiral and deflation in economic activity. The federal reserve in America has committed itself to maintain interest rates close to zero till it reaches mid 2015 even if it means economic activities might be stronger than it is expected at present. On the other hand, Japan reduced interest rates more gradually from six to three percent within the foremost 15 months of the crisis. In connection to this, the impact was that persistent problems in the monetary field, slow growth, and deflation led Japans bank to lessen interest rates further to approximately 0.5% in September 1995.

Measure the warehouse efftiency Essay Example | Topics and Well Written Essays - 1250 words

Measure the warehouse efftiency - Essay Example MRP will provide you with the ability to be pro-active rather than re-active in the management of your inventory levels and material flow (Inventory Solutions Logistics Corp). has developed for production, inventory, staffing, etc. It sets the quantity of each end item to be completed in each week of a short-range planning horizon. A Master Production Schedule is the master of all schedules.It is a plan for future production of end items. The Master Production Schedule gives production, planning, purchasing, and top management the information needed to plan and control the manufacturing operation. The application ties overall business planning and forecasting to detail operations through the Master Production Schedule. A bill of materials or bill of material (abbreviated "BOM") describes a product in terms of its assemblies, sub-assemblies, and basic parts. Basically consisting of a list of parts, a BOM is an essential part of the design and manufacture of any product. top level, BOM describing a list of components and sub-assemblies. Take a PC, for example: the top level BOM might list the shipping box, manual, packaging, packaging labels and the actual PC. The BOM for the PC itself is referenced in the top level BOM and would contain its own list of sub-assemblies like power supply, motherboard, case, etc. This increasing levThis increasing level of detail continues for all sub-assemblies until it reaches its constituent parts (like resistors or processors), or modules that are out of the scope of the BOM (like the parts that make up a fan that is brought in as a module from another manufacturer). BOMs are important, since without a basic knowledge of how many parts a product needs, there is no way of knowing how many units of that part you need to buy. A bill of material can define products as they are designed, as they are manufactured, as they are ordered, as they are built, or as they are maintained. There are different types of bills of materials dependent upon the discipline that generates them and the purpose for which they are intended. It is important to ensure the type of bill of material that you have and its intended use prior to working with a bill of material. 3. Part Lead Times A lead time is the period of time between the initiation of any process of production and the completion of that process. Thus the lead time associated with ordering a new car from a manufacturer may be anywhere from 2 weeks to 6 months. In industry, lead time reduction is an important part of lean manufacturing. An MRP calculates Lead time quite efficiently. The other functionalities include 1.

Dorothy Smith Essay Example for Free

Dorothy Smith Essay Dorothy Smith was born in North England in 1929. At a young age she did various jobs as a secretary before realizing that she needed to study in order to get a well paying job. In the early 1950’s she studied at the London School of Economics where she specialized in sociology. In 1955 Dorothy moved to the University of Berkeley where she got her doctorate. (Gardiner 180). While at Berkeley, she was exposed to sociological thinkers like Mead, Irving Goffman and Merleau. For two decades up from 1950, Dorothy was involved in many leftist organizations and attended various anti war demonstrations. She divorced her husband when her second son was nine months and faced many difficulties and challenges raising them. (classiques. uqac. ca). During her times, there was an outright gender discrimination against women. She sought the Marxist ideologies to explain the on goings and she clearly realized the differences in power on the lines of gender in the society. To her, males dominated the most important sectors like education, politics, medical as well as the economic field. This way, the female gender was marginalized and their interests and aspirations suppressed. (Gardiner 180). Dorothy graduated in 1963 after which she went into teaching in Berkeley, Essex and British Columbia. She continued with her institutional ethnographic studies after her retirement. As one of the renowned feminists, Dorothy argued that the society was male dominated, with the laws and the existing legal structures being highly patriarchal. Her research therefore focused on how men who had the power in economic terms dominated women. She also argued that even the religion was male dominated and the women were the ‘dormant gender’ whose voices were rarely heard. (Gardiner 180). To her, the domination was so severe that some women would end up using male figures. For instance, a female author would use a male name probably to attract an audience. The male dominance had been made universal and it appeared as if the women’s fate had been sealed. In education, women were denied formal education as well as positions; an example is in medicine where the society accepted male dominance as universal. Again, those seeking education in the male dominated schools would be influenced by the system. Most references in the schools portrayed male as the dominant gender and the female related studies were poorly funded or dismissed as of less importance. (classiques. uqac. ca). Institutional ethnography was a form of sociological inquiry introduced by Smith to explain how social relations influenced people’s everyday lives. The sociology for the people encompassed all people in the society and tried to establish the contradictions between people’s experiences in their every day lives as well as the way their social relations were organized. (Smith 1-6). Their approach differed from other theories in the sense that it placed more emphasis on people’s experiences rather than the predetermined social relations in the society. To illustrate her theory, she carried out various researches like the effect of single mothers and schooling of their children as well as alienation of middle class managers and the role their wives played. Smith and a colleague in the teaching career, Alison, researched on single parents and their effect on the education of their children. This â€Å"research focused on the socially organized processes which structured some families as different in the schooling environment. †(Smith129). Single parenthood was deemed as a social problem. Such parents were viewed as ineffective especially in bringing up children due to the purported negative influences on the children’s emotional development as well as their long term behaviors (Smith 130). Dorothy and Alison critically analyzed the existing literature on single parents. They established that most of what was depicted in the media was very different from what was happening on the ground. The media was a reflection of the works of some professionals such as teachers, administrators as well as social workers but it had an overall effect on the society. (Smith 137). Their research clearly explained the variances between what is depicted in the media (literature) and what actually happens. In her article, women, the family and the corporate capitalism, Dorothy tried to establish the alienation of a middle class manager and the role played by his wife to reinforce the man’s alienation. To Smith, the middle class manager was different from the working class man whose alienation was more to the ownership of the means of production as opposed to the woman who was a ‘personal service to him’. Smith established that when the man ceased to provide for his family the relationship changed, a clear indication that male dominance is highly correlated to the economic dependence which is an external force as neither of them has control over it. To Smith, â€Å"monopoly or the corporate capitalism alienated both the men and women of the middle classes while eliminating the socio economic basis for an autonomous selfhood for women†. (Sydie Adams 560). To Dorothy, there was a general consent of how laws, courts and welfare agencies helped enforce certain understandings of how the entire world was expected to work. The prevailing understanding seemed to favor men at the expense of women and there was a general association of women and child bearing. Dorothy made a major contribution to sociology as it is today. In her new sociological inquiry, she advocated that researchers be on the same critical plane as the subject of the research. Here, researchers were to look deeper rather than just the objects of the research if their research was to be effective. Conducting research in the traditional way would not reveal how the object was constructed or what it consisted of when relating it to the social relations that affected peoples every day lives. Although women problems demanded for a sociological explanation as their experiences created problems, their experiences alone would not suffice to offer solutions. Their experiences would be as a result of the social, political as well as the economic organization. Dorothy’s work made sociologists especially the researcher focus on the factors that influence people before making final conclusions as people’s experiences alone would be effectively addressed by monitoring their social relations in everyday activities. To Denise and Cheryl, in their extinguished book nursing research, Dorothy Smith’s ‘institutional ethnography’ has been applied in various fields such as nursing, social work, and community health as well as in the study of professional services. It focuses on the social organization as well as the institutional work processes and consequently the outcome of the research plays a significant role in the establishment of organizational changes as the real problems are established. (Polit Beck 227). Like other feminist theorists, Dorothy posits that sociology as well as other social science disciplines was constructed by males in the highly patriarchal society. To resolve women problems would therefore only be successful if the female stand point was considered. Smith used the Marxism approach and highlighted the aspect of alienation, capitalism as well as the economic aspects in the society. To her, there was need to focus more on the alienated in the society, these being women as well as other groups who were oppressed. (uregina. ca). To Dorothy, there was a need to research more on people’s experiences as well as situations as what was present in the prevailing literature was inaccurate in explaining their actual fate. As Johnson in ‘contemporary sociology theory’ noted, Dorothy Smith’s ideologies could differ from those of other feminist theorists. Some feminists unlike Dorothy tried to show how variations on the lines of racial or class backgrounds as well as sexual orientation intersected with gender bringing about different experiences across the various categories of women. This is to say that other feminists considered other factors and their role in influencing the plight of women rather than focusing strictly on male dominance in addressing the problems of women. Location was also another issue considered as it was clearly established that women from different regions say the developed world would experience different issues or problems as opposed to those in the less developed countries. The contemporary sociologists will therefore incorporate such variations in their studies. (Johnson 432-3) Major concerns that can be raised against Dorothy’s work are the overemphasis on the male dominance in the society. The queries here are that sociology is not always related with the ruling or power games in the society. (uregina. ca). Her argument that sociology as well as other social sciences had been established by man, the dominant gender in the society, is therefore untrue as in most cases sociology seeks to establish the social problems in the society, an example being the plight of immigrants as well as the poor in society. Dorothy emphasized on every day experiences or situations in relation to the social relations that one had. Critics would argue that she underestimated the inner self or being of people which also has a role to play in influencing who they are. She also failed to explain the role played by other groups in the society and only focused on male and their dominance. (uregina. ca). Works Cited: Adams Bert N and Sydie Rosalind Ann. Sociological Theory. Pine Forge Press, 2001 Dorothy E. Smith. retrieved on 29th April from http://classiques. uqac. ca/contemporains/smith_dorothy/smith_dorothy_photo/smith_dorothy_photo. html Feminist Standpoint Theory – Dorothy Smith. Retrieved on 29th April from http://uregina. ca/~gingrich/319m2206. htm. Gardiner Michael. Critiques of everyday life. Routledge Publishers. 2000 Polit Denise F and Beck Cheryl Tatano. Nursing research: principles and methods. Lippincott Williams Wilkins Publishers. 2003 Smith Dorothy E. Institutional ethnography as practice. Rowman Littlefield Publishers. 2006

Analytical Response to Male Pregnancy Essay -- Science Technology Essa

Analytical Response to Male Pregnancy Male Pregnancy by Dick Teresi and Kathleen McAuliffe support that the technology and the demand for male pregnancy will be possible in the future. They specifically state that, "Someday a man will have a baby". They have written this article in an attempt to show why they believe this will one day become accepted and widely practiced. However, I disagree with Teresi and McAuliffe. I feel male pregnancy will never be freely practiced or accepted by any means. Teresi and McAuliffe start out their article by explaining what their general idea is for male pregnancy to occur. They state, "What we're talking about is implanting an embryo into a man's abdominal cavity, where the fetus would take nourishment, grow to term, and be delivered by an operation similar to a cesarean section. Already, this idea seems illogical to me. As a result of a man being pregnant, there must be a cesarean section to remove the baby. Even for women, this is a risk doctors prefer to avoid if possible. It puts the mother at a much greater risk of injury or death as well as the baby. Going to great lengths to make a man attempt to do something that has a high risk seems foolish when the same results can be achieved naturally with a much lower risk. Slightly further into the article Teresi and McAuliffe discuss how a researcher, Dr. Cecil Jacobsen, injected a fertilized egg of a female baboon into the abdominal cavity of a male baboon. He then states that "with very moderate chemical support, the male baboon was able to carry the pregnancy toward term". Again this goes back to the fact that women can go through the process of child birth natural in most cases. However, for a male to car... ...erring to why they would not want to carry a baby in the summer but any other time is okay. It is not just themselves they are affecting if the operation and procedure is a success, it is also the child who will have to grow up in a society where everyone else's mother is a female, but his mother is dad also. Overall, I felt Teresi and McAuliffe's arguments for pursuing the technology of male pregnancies is not strong enough to actually do further research in the area. I feel that females are biologically established for birth where men's bodies naturally can not give birth. It seems illogical to try to change a system that has worked so well for so many years. If there is a technology dealing with birth that should be researched it should be increasing the safety of it, not a step backwards since the abdomen is a much more dangerous and illogical way.

External Analysis

External Analysis 1. PESTLE Factors Political and Legal · Government has high work efficiency, justice and transparency.  · Company or individual have low tax rate easy to calculate.  · Government supports the development of industry and commerce. | Economic ·Hong Kong is the world’s 11th trading powers and 2nd stock market in Asia.  ·One of the most free trade port and open investment policy. It is the only one RMB offshore market.  ·Over-estimation of the number of visitors. Loss $46 million in the second year and $12 million in its third year. | Socio-Cultural ·By colonial influence, Hong Kong’s culture will more closely to the western country.  ·More open and easy then investment in mainland China. Widely recognized as one of the freest economies in the world.  ·Well adapt the Chinese culture.  ·Marketing campaign was not aggressive enough. | Technological ·Diversification in Business and professional service. Have highly educated professional talents and modern management structure. | Environmental ·Resulted in major environmental problem, such as the death of the marine life and pollution from the nightly fireworks display. | | 2. Implication of PESTLE Analysis * As the management over-estimation of the number of visitors and with the Shanghai Disneyland will open in 2014, Disney HK should consider expansion their current target markets, not only focusing on the visitors are from the mainland China. Hong Kong Disney should be more aggressive in their marketing campaign to let more visitors will able to make more visit. At the same time, Disney HK should improve their service quality also the management as well. * Hong Kong public feels that Disney has shown little respect for the sentiments of people and has exhibited little social responsibility. Disney HK should increasing emphasis on environmentally and become more socially responsible. External Analysis External Analysis 1. PESTLE Factors Political and Legal · Government has high work efficiency, justice and transparency.  · Company or individual have low tax rate easy to calculate.  · Government supports the development of industry and commerce. | Economic ·Hong Kong is the world’s 11th trading powers and 2nd stock market in Asia.  ·One of the most free trade port and open investment policy. It is the only one RMB offshore market.  ·Over-estimation of the number of visitors. Loss $46 million in the second year and $12 million in its third year. | Socio-Cultural ·By colonial influence, Hong Kong’s culture will more closely to the western country.  ·More open and easy then investment in mainland China. Widely recognized as one of the freest economies in the world.  ·Well adapt the Chinese culture.  ·Marketing campaign was not aggressive enough. | Technological ·Diversification in Business and professional service. Have highly educated professional talents and modern management structure. | Environmental ·Resulted in major environmental problem, such as the death of the marine life and pollution from the nightly fireworks display. | | 2. Implication of PESTLE Analysis * As the management over-estimation of the number of visitors and with the Shanghai Disneyland will open in 2014, Disney HK should consider expansion their current target markets, not only focusing on the visitors are from the mainland China. Hong Kong Disney should be more aggressive in their marketing campaign to let more visitors will able to make more visit. At the same time, Disney HK should improve their service quality also the management as well. * Hong Kong public feels that Disney has shown little respect for the sentiments of people and has exhibited little social responsibility. Disney HK should increasing emphasis on environmentally and become more socially responsible.

School Uniforms Persuasive Essay

In public and private schools, students are constantly being judged on what they wear and how they look. These judgments influence students to pick on others and induce bullying. If schools make uniforms mandatory, this cause of bullying would be eliminated, thus reducing the number of bullying incidents. Therefore, school uniforms should be required for all students because they will reduce bullying, relieve stress and make school a safer place. People are judged on what they say, where they go, and what they believe, but the main form of judgment is due to appearance.With one look, we make inferences on the economic status and background of other people. It is no secret that less fortunate people generally do not have as nice clothing as those who are wealthy. But is the difference in one’s clothing a worthy reason for them to be treated differently? The answer is no, yet it still occurs each and every day for students who are without uniforms. Children should not be treated differently just because their parents are unable to buy them trendier clothes.With the implementation of school uniforms, students can focus more on learning and building social connections based on interests and beliefs and not their societal status. School uniforms are the most effective way to eliminate social and economic differences among students. Because society is incredibly materialistic and money is a power issue, the judgments that are made on how someone appears become a main cause of bullying. Mandatory school uniforms would eliminate this problem and allow students to be judged on personality, not just what they wear.Bullying in general is malevolent; it is not only an unnecessary barrier to learning, but has the potential to make students’ lives unbearable. This sort of torment may not be terminated, but it would surely be reduced with mandatory uniforms. With the new HIB (harassment, intimidation and bullying) laws that Governor Chris Christie passed in New Jersey, and the studies that signify the increased number of bullying incidents within the past few years, bullying has become a larger problem than ever.Along with bullying, theft and gang activity can be reduced by wearing uniforms. In many areas, gangs are identified and encouraged through their clothing. Without the knowledge of who is in what gang, violence will be reduced and the school will be safer. If society insists on doing everything it can to prevent the mistreatment of other students, school uniforms should be made mandatory. There are other benefits of wearing uniforms as well.First, students’ lives would be much easier and less stressful. A great amount of time is usually spent on choosing and worrying about outfits. If students were refunded this time, they could have more time for other daily requirements such as homework. Some students, especially girls, stress about what they are going to wear every day and how they are going to look compared to everyone e lse. School uniforms will eliminate this unnecessary cause of stress.Having uniforms would not only eliminate stress put on students, but stress and pressure put on their parents as well. Some parents just cannot afford the in-style clothing items that other parents can provide. Every parent yearns for their children to fit in and be happy. As hard as they try to accommodate this for their young ones, some parents find this task impossible to accomplish. It must kill a parent to see their child mistreated or bullied because of something they could not provide for them.Adversaries to this argument may dispute being able to choose what to wear is the student’s prerogative and is what allows them to express their individuality, but is what students wear what makes them individuals? What happened to individuality being based on personality, positive attributes and passion? It is not clothes that make us unique. Wearing hand-me-downs because that is all that a family can afford fo r their child does not allow them to express themselves; it is not what makes them an individual and it certainly does not reflect who they are inside.What it does do is make that unfortunate child self conscious and ashamed. Many present conflicts within school systems can be easily solved or at least minimized with school uniforms. They can aid the prosperity of our schools and students, so why not take advantage of this simple answer to our problems? Action needs to be taken to make uniforms mandatory. They reduce the insecurities felt by children as well as their parents. Uniforms allow students to shine and excel for who they really are and not for whom they appear to be.

Deer of Providencia Essay Example

Deer of Providencia Essay Example Deer of Providencia Paper Deer of Providencia Paper The story â€Å"The Deer at Providencia† begins with four North Americans in the jungle of Ecuador. Three of the other North Americans are metropolitan men; our narrator is the only female in the group. As they made their way from riverside villages to the next, they came across a village called Providencia. There they saw an â€Å"awful† sight, a poor helpless deer tied to a tree. Its limbs caught in the noose around its neck. Its malnutrition body limped on the ground. The deer was caught just earlier that morning, and would be prepared for dinner that night. For fifteen minutes the travelers and village people watched as the â€Å"poor† animal thrashed for its life, trying to free itself, without success, the travelers proceeded to eat lunch. Here they were given a type of stew of meat in shreds and rice. When our narrator asked what kind of deer was tied to the tree, she was answered â€Å"Gama. † They were also told that the stew they were eating was Gama as well. The narrator went on to say that the meat was very good, and was surprised by the tenderness of the meat. The three men were surprised by how our narrator was able to watch the â€Å"awful† event earlier that day without making an expression. The story then switched, and our narrator is now at home. As she combs her hair in front of the mirror there is a photograph from a newspaper taped to her mirror. It reads â€Å"Alan McDonald in Miami hospital bed. † He was a burn victim, for the second time. He was burnt thirteen years ago by flaming gasoline. Now thirteen years later he is a burnt victim once again from gunpowder this time. Alan McDonald asked from his hospital bed â€Å"Why does God hate me? †(p714) His wife concludes to the piece with â€Å"Man, it just isn’t fair. †(p714) Unfairness happens in life, people and animals alike suffer, and that is just how life is. How you continue living is what matters. At first glance the narrator seems to be emotionally detached because she shows no emotion to the helpless. She has no problem eating the same kind of meat as that of the deer, right after seeing the horrific scene. One man went on to say â€Å"if that had been my wife, she wouldn’t have cared what was going on; she would have dropped everything right at the moment and gone in the village from here to there to there, she would not have stopped until that animal was out of its suffering one way or another. She couldn’t bear to see a creature in agony like that. (p713) Or one may conclude that she just does not understand why these things happen, in the case of the deer and Mr. McDonald. That â€Å"These things are not issues; they are mysteries. †(p713) But as I see it, the narrator is not emotionally detached nor seeking the answer to a question that is impossible to answer. She is a realist. She realizes that these types of things happen. Whether they happen for a reason or not is not the question. She understands that suffering goes on in the world, and worrying about it does not change anything. Why did she not run in to save the deer when it was suffering and was able to eat right after that? It is simple; she realizes that everything needs to eat to survive. The village people hunt to feed themselves. To not eat a meal that has been prepared is disgraceful to your host. Also to eat the meat of an animal that has lost its life to be part of the meal is a disgrace to the animal. I also believe that the reason our narrator tapes a newspaper clipping of Mr. McDonald’s ordeal is to constantly remind herself that whatever may happen to you, you should not lose hope but continue to live. Once I read that people who survive bad burns tend to go crazy; they have a very high suicide rate. †(p714) Mr. McDonald was different, after being burnt the first time thirteen years ago. He did not give up on life and continued to live his life. Was it fair to him that it happened again thirteen years later? Mrs. McDonald said â€Å"Man, it just isn’t fair. †(p714) Wh ether or not it is fair is not the question. The question is will he continue to live his life again now that it has happened again? I would believe he would. He has been through it before once. He was able to live thirteen more years, with his family and friends. Therefore after being through all the pain and suffering once, the second time might be easier for Mr. McDonald. I see no reason for him to end his life now that it has happened again. Like the narrator in the story, I’ve witness my share of unfairness in life, whether it be racially or just for no reason. I am lucky to say I have not witness suffering myself, but I have seen suffering. My uncle just passed away in April of 2008. His courage to endure suffering is what I keep in mind constantly. It drives me to pursue life to the fullest. In his mid 20’s he was diagnosed with having failing kidneys. He had to go through blood transfusions three times a week, as he waited on the donor list for a kidney transplant. As he was lying in his death bed at the hospital awaiting his fate, the doctors got a call a donor has been found. He got the kidney he dearly needed, but in a kidney transplant situation the kidney would only last 10 years. He saw it was God’s way of giving 10 more years. After he was married with one child, and the 10 year mark drew near. The second time was better than the first; he did not have to wait long. After the operation was done, my uncle found out that kidney he got was from a 12 year old boy. The boy died in a car accident. Was it fair for the 12 year old boy who died so my uncle to live? Did my uncle give up on life to run from the suffering? My uncle continued to live life fullest, traveling to his birthplace Vietnam, taking award winning photos, and loving his family. Until the 10 year mark once again creped up. This time was different from the rest; he could not be put on the donor list. So he went back to the ever painful blood transfusions. On April of this year, in Saint Joseph Hospital, my uncle, after a life time of suffering and pain, drew his last breath. Both in the story and my uncle’s suffering, shows that suffering and unfairness happens whether we want it to or not. Whenever something bad happens to you or someone around you, you will most often hear â€Å"Man that just isn’t fair† or â€Å"life isn’t fair. † That is the basic truth behind life, it is not fair. It will happen and does happen. As humans we hope it never happens to us. Unfairness can take many forms, so as can suffering. Whether it takes form in racial profiling, religious discrimination, or simply the difference between rich and poor. Was it fair for the deer that died? Was it fair for Mr. McDonald? The answers to those are simple, no. Why did the deer have to suffer? Why did Mr. McDonald have to suffer? Why did my uncle have to endure all those years of suffering? Why did that 12 year old boy have to die at such a young age? Those questions are not issues, they are more like enigmas. How we stand up, and continue to strive to live which will make the difference. I’ll leave you now with two quotes â€Å"Our greatest glory is not in never falling, but in rising every time we fall. † – Confucius. â€Å"It’s not your fault you were born with nothing, but it is your fault if you die with nothing. † – Bill Gates.

A Depiction Of Berlin In Robert Walser’s “Berlin Stories” and Walter Benjamin’s “Berlin Childhood Around 1900”

A Depiction Of Berlin In Robert Walser’s â€Å"Berlin Stories† and Walter Benjamin’s â€Å"Berlin Childhood Around 1900† Robert Walser’s â€Å"Berlin Stories† is a collection of vignettes that track his observation during his jaunts through the city. Walter Benjamin’s â€Å"Berlin Childhood Around 1900† is an attempt by Benjamin to recollect his urban childhood as an adult in exile. They both write about Berlin at the turn of the century but are able to produce images of the city that are at once captivating in their portrayal of a city in constant movement and honest in their dealings with the realities of modern life. In presenting Berlin as both a voluptuous giantess and a protective mother, the authors show that modernity can be both sensual and nurturing. In Walser’s â€Å"Good Morning, Giantess!† the titular figure is the city of Berlin: â€Å"The chest expands, the giantess Metropolis has just, with the most voluptuous leisureliness, pulled on her sun-shimmery chemise. A giantess like this doesn’t dress so quickly, but each of her beautiful, huge motions is fragrant and steams and pounds and peals.† (Walser 5) By likening Berlin to a giantess, Walser merges images of power and sexuality. The city steams and pounds and peals† but also expands its chest with a â€Å"voluptuous leisureliness.† Significantly, the giantess’ power is a mechanical power. Each of her motions â€Å"steams and pounds and peals,† invoking images of the modern factory, calling to mind Berlin’s namesake—Europe’s Fabrikstadt. Additionally, Walser points out that, â€Å"A giantess like this doesn’t dress so quickly.† The giantess Metropolis is slow and leisurely, and the language that Walser uses here even slows down the reader—â€Å"sun-shimmery chemise.† This language even extends to passages where Walser describes Berlin’s urban rush: â€Å"what a ravishing, beguiling haste can be seen in all this ostensible packed-in-ness and sober-mindedness† (11). By using sensuous language and a deliberate pace, Walser makes even Berlin’s hurriedness and crowdedness part of the city’s allure. However, Berlin, like a giantess, is frightening, even disgusting. Before the day breaks, â€Å"before even the electric trams are running,† Berlin is not a giantess, but a monster (3). Placing the reader in Berlin’s cold, early morning streets, Walser writes, â€Å"you trot along, rubbing your hands, and watch people coming out of the gates and doorways of their buildings, as though some impatient monster were spewing out warm, flaming saliva† (3). This disgusting image of a salivating monster deviates sharply from the image of a luxurious giantess slowly pulling on her chemise. This is because Walser is showing the reader the â€Å"dark side† of Berlin: the class divide. The people â€Å"coming out of the gates and doorways of their buildings† are lower class workers or, as Walser puts it, â€Å"people of no significance† (4). Walser contrasts these people with Berlin’s upper class, namely, â€Å"refined persons who make it a habit to arise late† and â€Å"the children of wealthy, beautiful parents† who are still asleep as the hoi polloi make their morning commute. Alternatively, in Benjamin’s â€Å"Berlin Childhood Around 1900† the city of Berlin acts as a surrogate mother. Benjamin calls the loggias in which he grew up while living in Berlin â€Å"the cradle in which the city laid its new citizen† (Benjamin 38). By merging images of Berlin with images of maternity, Benjamin introduces the city as a nurturer and protector. By carrying over images of maternity to a city as urban as Berlin, Benjamin is showing how memories of his Berlin childhood can be just as tender and innocent as â€Å"memories of a childhood spent in the country† (38). According to Benjamin, â€Å"The rhythm of the metropolitan railway and of carpet-beating rocked me to sleep,† and this imagery demonstrates Berlin’s ability to â€Å"nurse† young Benjamin in spite of its urban technology and elbow-to-elbow housing arrangements. Overall, Benjamin attempts to forge an image of the city that is nurturing and protective, despite i ts lack of rolling fields and lowing cattle. The juxtaposition of maternity and technology occurs later in the text when Benjamin describes the household telephone: â€Å"The night from which [the noises of the telephone] came was the one that precedes every true birth. And the voice that slumbered in those instruments was a newborn voice. Each day and every hour, the telephone was my twin brother.† (48) Here the reader encounters a young child’s wonder at modern technology, but, interestingly, Benjamin illustrates this by invoking images of maternity. Benjamin ascribes to the ring of the telephone the life-giving function which gives birth to both the voices on the other end of the phone call and young Benjamin himself. In other words, the telephone brings life into the home but also calls everyone within earshot of its ring into existence. However, in 1900, the German countryside had virtually no telephones while in Berlin these same devices were commonplace in middleclass family homes. By extending the maternal, life-giving language to the city’s technology, Benjamin establishing Berlin and its modernity as a city full of life. However, besides its ability to give life, the telephone also â€Å"multipl[ies] the terrors of the Berlin household† (49). The language that Benjamin uses to describe himself working up the courage to answer the phone as a child is fraught with violence and fear. According to Benjamin, â€Å"There was nothing to allay the violence with which [the telephone] pierced me,† shifting the image of the telephone from life-giver to violent penetrator (50). Earlier, Benjamin described the way the telephone slowly conquered his home, moving from a â€Å"dark hallway in the back of the house† to the front room, and now the phone has become a violating and intrusive presence (48). In this way, Benjamin paints an image of a modern childhood in an urban city that is nurturing and full of life but also filled with violence and fear in the form of technology. Between Robert Walser’s â€Å"Berlin Stories† and Walter Benjamin’s â€Å"Berlin Childhood Around 1900,† Berlin becomes both a voluptuous giantess and a nurturing mother. Berlin as giantess paints an image of the city that is sensual and leisurely, and Berlin as mother establishes the city as protective and life-giving. Of course, Berlin is far from a utopia, but these images transform what was at the turn of the city a dirty, overcrowded, and in many ways ugly city into a place that both of these authors is able to present proudly and lovingly to the reader.

Ip2 hr Research Paper Example | Topics and Well Written Essays - 250 words

Ip2 hr - Research Paper Example The required working hours should be stipulated in the agreement. A section stating the salary or wage that the employee will be paid is crucial. An employment agreement should have a clause on the company’s redundancy measures. Also, essential to the agreement is a section on the terms of resolving the employment contract. Proper description of duties and responsibilities of different jobs is essential in human resources practices. Such practices include recruitment and screening, planning, orientation, appraisal and in the classification of positions. An effective job description will outline the characteristics of the position clearly. It should spell out in detail the demands of the job, expected supervision and the distinguishing features that demarcate the job from others in the organization. Proper job description will list the tasks involved in the job and the number of people the individual will need to contact within the course of doing the job (Jackson et. al., 2009). It is essential to provide for the tools of work the position needs including manuals. Recruitment helps in getting candidates who are best qualified for a vacancy. The recruitment process should be fair and should uphold transparency. It should outline procedures involved in staffing clearly. It should provide a chance for incumbent employees to apply for the vacancy. Describing the process both internally and externally provides a chance for prospective applicants to gauge the fairness of the process. Different responsibilities and roles involved in the process should be articulated (Banks & Banks, 2011). A fair recruitment process will provide a clear description of the vacancy. Recruiters need to be well versed with laws and regulations that govern employment. Also, important to recruitment is the provision of clear procedures of how applicants can register complaints and appeals. Recruitment is an