Csr Framework

Theoretical Framework: Corporate Social Responsibility (CSR) Definition CSR is a much broader concept than business ethics. Business ethics is the application of ethics and ethical theory to the decision of business. CSR claims that businesses are more than just profit-seeking entities and, therefore, also have any obligation to benefit society. CSR is about business and other organizations going beyond the legal obligation to manage the impact they have on the environment and society. In particular, this could include how organizations interact with their employees, suppliers, customers and the community in which they operate, as well as the extent they attempt to protect the environment. Nature According to Carroll’s four-part model, corporate social responsibility encompasses the economic, legal, ethical, and philanthropic expectations [placed on organizations by society at a given point in time. Motivation To be corporate social responsible, businesses must go beyond profit-making to be responsible for a variety of stakeholder groups other than focusing exclusively on investors. It is applicable to both large corporations and SMEs. The firm goes beyond compliance and engages in ‘actions that appear to further some social good, belongs to the interests of the firm and that which is required by law’. Outcome The outcome of CSR includes financial performance, corporate reputation – brand & image, employee commitment, cost saving, customers, government, and competitiveness. Components There are six stakeholder groups considered as the most important influence factors in terms of corporations’ social responsibility. They are shown as followings: Customer responsibility practices It demonstrates customer commitment by providing high quality service that includes complete information, responding to customer complaints, and adapting products and services to enhance customer satisfaction. Employee responsibility practices This element includes equitable employee selection, promotion, and compensation practices, supporting employee educational development, and helping employees attain work-family life balance. Investor responsibility practices It encompasses the factors related to seeking investor input on strategic decisions, responding to investor needs and requests, and providing all investors with a competitive return on their investment. Supplier responsibility practices It focuses on developing long-term collaborative supplier relationships founded on open communication and information sharing, cooperative goal- and decision-making, and offering suppliers price guarantees for the future. Community responsibility practices It demonstrates voluntary commitment to improve the quality of life in their local communities by giving resources to local charities, and sponsoring cultural, sports, and education programs. Environmental responsibilities It integrates environmental sustainability goals and objectives in organizational operations. It is typified by voluntarily exceeding government environmental regulations, implementing environmental management systems. Influence Factors There are two types of Influence Factors in CSR, which are Macro Factors and Micro Factors. Macro Factors are the external elements affecting CSR strategy development of the company whereas Micro Factors are those internal elements having effect on CSR strategy decision making of the company. Macro Factors can be the environmental factors such as Political, Economical, Social and Technological elements. On the other hand, Micro factors can be Firm size, Budget, Top management commitment, Decision maker morality and Company culture.

How Rich Countries Got Rich and Why Poor Countries Stay Poor Essay

How Rich Countries Got Rich and Why Poor Countries Stay Poor By Erik S. Reinert The book How Rich Countries Got Rich and Why Poor Countries Stay Poor is written by Erik S. Reinert and it is published in 2007. Reinert is a 62-year-old Norwegian economist who specializes in development economics and economic history (Wikipedia). Reinert attended the University of St. Gallen in Switzerland (where he studied economics), Harvard University for MBA, and Cornell University for Ph.D.(Wikipedia). In addition to How Rich Countries Got Rich and Why Poor Countries Stay Poor, Reinert has written six books which focus around the theory of uneven development and the history of economic thought and policy (Wikipedia). Reinert is not only an eminent scholar in his field, but also a distinguished entrepreneur. In 1972 he founded a small industrial firm that did color sampling to the paint and automotive industries. Later he developed the firm and added production plants in Norway and Finland, and by the time he sold it in 1991, the company had become the largest of its kind in Eu rope (Wikipedia). Reinert is influenced by Friedrich List and it shows in his piece. Reinert suggests that â€Å"globalization would have been a positive-sum game for all countries if the world has taken Friedrich List’s path to economic integration† (Reinert, 161.). Friedrich has developed his own theory about the timing of tariffs and free trade, and the sequence basically goes like this: (1) a period of free trade for all nations (2) a period when small states protect and build their own industries (4) a period when all countries establish their own competitive industrial sectors (Reinert, 161.).After going through all the above steps, it’s time to open for global free trade and globalization will benefit the poor nations as well as the rich ones. Based on Reinert’s education level, the amount of research and publication he has done in the field of uneven development and his work experience, it can be concluded that Reinert is both qualified educationally and by experience to write this book. How Rich Countries Got Rich and Why Poor Countries Stay Poor is Reinert’s most recent English-language book and his purpose of writing this book is to find out the causes of poverty and to explain the mechanisms that produce the huge gap between the rich and the poor. He looks through the economic history of the past 500 hundred years and concludes the economic structure that most rich countries follow faithfully and eventually make them rich: industrialization policies first, free trade second. Once the rich countries become rich (e.g. the European countries), the type of economic understanding employed by them during their transition from poor to rich dies and they comes up with the completely different standard economics (abstract â€Å"high† theories) for export to poor countries. As a consequence, the standard economics, such as the Washington Consensus, proves to be damaging to poor countries and makes them even poorer. It can be observed that the rich countries were those who emulated the leading industrial nations, such as the United Kingdom, into â€Å"the Age of Industry† (Reinert, 123.) Industrialization is the very first step towards success. With the effect of increasing returns and specialization, the benefit of industrialization goes much further. Industrialized countries take all the jobs that require high skills and technology, while the jobs industrialized countries can no longer mechanize or innovate further, such as straightening of the wire, are farmed out to the non-industrialized countries (Reinert, 39.) Rich countries produce mechanizable products while poor countries can only produce non-mechanizable ones and it explains why no country is able to get rich by only producing raw materials (Reinert, 134.). An industrial sector is essential for a country to become rich. As time zips by, technology and increasing returns, which are main sources of economic power, create economic barriers to entry and make it even more difficult for poor countries to catch up (Reinert, 40.). Rich countries specialize in the right economic activities also develop economic scale and as a consequence, more labor is needed to perform the tasks and the cost of each unit of product falls (Reinert, 40.). Workers are paid more and the things they buy cost less. Both outcomes reflect the two ways to raise the standard of  living: to receive higher wages or to lower the prices of goods (Reinert, 131.). On the other side, rich countries force the conclusions of standard economic policies which they would not apply at home, upon the poor nations that are under their wings, such as keeping the colonies as pure suppliers of raw materials (Reinert, 39.). The rhetoric-reality gap plays an important role in keeping poor countries poor. Another factor that is crucial to the poor nations is the timing of opening up of an economy because free trade tends to destroy the most efficient industries in the least efficient countries (Reinert, 251.). Most rich countries are industrialized before the free trade, so that when they enter the market, they are capable to compete with other countries and get the maximum benefits from globalization but for poor nations, the free trade is like adding frost to snow. In conclusion, Reinert sees the wealth as a result of industrialization, together with other factors such as increasing returns, synergies and he blames poverty for deindustrialization, and the wrong timing of free trade. In general, I agree with Reinert’s opinion that industrialization and the timely free trade policy are the keys to wealth. The development path of China can be a perfect example for this. China was very prosperous during the Tang dynasty, and many western countries sent scholars all the way to China to learn from its success. But during the Qing dynasty, the government chose the policy of isolation and it destroyed the economic development of China. The Qing government restricted the external transport and foreign trade. Imported goods were heavily taxed. The variety and quantity of exported goods were limited as well. China isolated itself from others while many western competitors were in the process of industrialization. Many industrialized western nations were seeking new territories and the deindustrialized China without any advanced arms naturally became their target. Effortlessly, their machine guns bombed the â€Å"locked† country. After that, China learned lessons and started to choose economic structure carefully. Instead of following the immediate economic integration, China followed the Marshall Plan whose goal is to reindustrialize. Fortunately, China chose the right economic structure this time and it was used as proof of the excellence of globalization while Russia, a country faithfully followed the advice given by the World Bank and IMF, experienced disastrous  consequences (Reinert, 118.). Although China has gone back to the right track, but the fact that China is a developing country instead of a developed country demonstrates that the scar caused by the mistaken choice of economic policy and deindustrialization hasn’t healed. The story of China shows the consequences of failing to recognize the importance of industrialization and timely free trade. The failure explains why poor countries are poor and the presently weal thy countries are those who embrace the industrialization and capitalism. Generally speaking, the book is well written. Reinert organizes the book by using sub headings to separate the content and drawing examples from the economic history to support his theories, which make the book more understandable and reliable. There are only a few graphics, a bibliography and a very long appendix at the end, suggesting there are a lot of facts and in-depth research behind the book. The only problem that I have with this book is the repetitiveness of theories. Reinert is very focused on his theme but sometimes he tends to overemphasize it by repeating the similar theories in different chapters. I would recommend the book to readers who have a particular interest in the topic of equalization, or the gap between the rich and the poor. Reinert discusses a lot of highly controversial subjects and people would want to find out the answers. Bibliography S. Reinert, Erik, How Rich Countries Got Rich and Why Poor Countries Stay Poor, London: Constable & Robinson Ltd, 2007 http://en.wikipedia.org/wiki/Erik_S._Reinert

Symbolisms in Kate Chopin’s “The Storm”

Symbolisms in Kate Chopin's â€Å"The Storm† Kate Chopin's â€Å"The Storm† is a short story written in 1898 but was not published until 1969. The story explores an excess of turbulent emotions of the protagonists in the backdrop of unexpected storm. Chopin effectively confronts the brewing conflict of the story by her unflinching depiction of the story through symbolisms. The symbolisms most evident in â€Å"The Storm† includes: the storm itself, Assumption, a small town in which the protagonists first met and whiteness as mentioned many times in the story.Chopin opens the first part of the story by using the illustration of the threatening storm with Calixta's husband, Bobinot: â€Å"Bobinot, who was accustomed to converse on terms of perfect equality with his little son, called the child's attention to certain somber clouds that were rolling with sinister intention from the west, accompanied by a sullen, threatening roar† (123). The storm is one of the obvious themes of the story. It is involve in practically every element of the plot.The text above describes the impending change of weather that is about to come, foreshadowing the series of events that is about to unravel. Bobinot then, decides to wait at the general store with their son, Bibi until the storm evens out. This waiting out or avoidance from the storm suggests that he also avoids the storm of passion that his wife had expected of him. Bobinot's less passionate nature becomes more evident on how he is described later in the story: â€Å"Then he returned to his perch on the keg and sat stolidly holding the can of shirmps while the storm burst† (123).The text gives an insight on Bobinot's general behavior or nature as an individual describing him as stolid, meaning having or revealing little emotion or sensibility or it could also means not easily aroused or excited. After this, the readers are introduced to Calixta at their home who is at first â€Å"unaware of the storm coming† because she is occupied with sewing and doing other mundane chores (124). The story introduces the female protagonist as a dedicated homemaker sewing furiously and gathering her usband's Sunday clothes put out to dry before huge drops of rain wet them. This behavior potrayed by Calixta in beginning story implies that â€Å"her sexuality is repressed by the constraints of her marriage and society's view of women, represented in this passage by the housework† (121). Chopin efficiently compares the storm brewing in nature with the storm within Calixta as she encounters Alcee in her home alone: â€Å"As she stepped outside , Alcee Laballiere rode in at the gate.She had not seen him very often since her marriage, and never alone† (124). The text displays Calixta's surprise reaction upon seeing a past lover right through her door. Out of courtesy, she then let Alcee in her house more so, since the rain is starting to get stronger: â€Å"He expressed an intention to remain outside, but it was soon apparent that he might as well have been out in the open: the water beat in upon the boards in driving sheets, and he went inside, closing the door after him† (125).The text describes the growing intensity of the storm. It also foreshadows the growing storm of passion that is building up between Calixta and Alcee. Chopin's description of the intensity of the storm that is starting to build as the story progress is parallel to the tension raging between Calixta and Alcee: â€Å"The playing of the lightning was incessant. A bolt of lighning struck a tall chinaberry tree at the edge of the field† (124). The text describes the violent temperament of nature. This draws Calixta and Felix physically closer together.Calista, being scared of the raging storm is comforted by Alcee: â€Å"Alcee clasped her shoulders and looked into her face. The contact of her warm, palpitating body when he had unthinkingly drawn her into his arms, had aroused all the old-time infatuation and desire for her flesh† (125). The text explores the passion waging in Calixta's heart suffused with the raging of the storm outside. This also reminds her of the past flirtation they shared a couple of years ago in a place called Assumption. Storms as we know it is useful.Storms is also known for its destructive effects. And lastly storms usually occurs briefly. The storm of passion that takes over Calixta and Alcee is depicted in the story as something beautiful and significant: â€Å"When he touched her breasts they gave themselves up in quivering ecstacy, inviting his lips. Her mouth was a fountain of delight. And when he possessed her, they seemed to swoon together at the very botherland of life's mystery† (125). The text explores the beauty of abandon within the rage of their passion Calixta and Alcee discovered.The symbolism â€Å"The Storm† in the story is intended to reflect Calixta's sub-conscious sexual longin g as a result of her inadequate conjugal relationship with her husband. Just as the climatic storm takes in the characters in the story by surprise, the emotional storm of sexual fulfillment takes her by surprise. She realizes this arousal only after it passed and after the fact (121). Going back to the fact that they were both married to another people, the readers are prompted to question the morality aspects of what happened between Calixta and Alcee.However, such question is dismiss quickly by the story's plot. As quickly as the storm passes by the town where the characters are, so as passion that took over Calixta and Alcee: â€Å"The rain was over; and the sun was turning the glistening green world into a palace of gems. Calixta, on the gallery, watched Alcee ride away† (125). Although Calixta gives in to Alcee's advance, there is no suggestion by the author that the act was one of love making. The whole affair was not so much one of Calixta's love for Alcee, but one of her love for herself.Hence, from a technical point of view this is not a story of romance, but one of human nature. Though acclaimed now, this work was published after Chopin's death as she knew it was in direct oposition to societal norms of her times (433). After the spontaneous sexual encounter between Alcee and Calixta, the storm subsides. The sexual act was not to be forgotten and buried out of consciousness. Both of them have to put it in the context of their lives. While the reader would expect feelings of remorse and guilt from the two, they instead feel rejuvenated and relieved.Chopin captures the state of their minds using the following words: â€Å"So the storm passed and everyone was happy† (126). The tone of ending of the story suggests that everything works out for everyone's benefit. Calixta and Alcee's secret is officially safe, dissipating as the storm itself has. Another symbolism that is evident in the story is Assumption or the small town where Calixta an d Alcee met up and shared kisses five years ago: â€Å"Do you remember– in Assumption, Calixta?Oh, she remembered; for in Assumption he had kissed and kissed her; until his senses would well nigh fail, and to save her he would resort to a desperate flight† (124). The text describes the passion they once shared in Assumption although it does not lead to sex because Alcee would leave Calixta in heights of their passion so as to save her purity. The name Assumption has religious connotations that reminds us of virginity and chastity. In Christianity, it refers to a specific event: the Virgin Mary's ascent to heaven after she dies.Instead of having sex in a place associated with chastity, the place where Calixta and Alcee consumate their feelings for one another is Calixta's home. However, it is the memory of their time in Assumption: a place that reminds them of chastity, where they could not be together that sparks a more mature interlude between them. Another symbolism that Chopin examines in the story is the repeated mention of â€Å"whiteness†. While usually white symbolizes purity or chastity, the story twists it around to represent sexual desire and longing: † She was a revelation in that dim, mysterious chamber; as white as the couch she lay upon.Her firm elastic flesh that was knowing for the first time its birthright was like a creamy lily that the sun invites to contribute its breath and perfume to the undying life of teh world. The generous abandon of her passion, without guile or trickery, was like white flame which penetrated and found response in depths of his own sensuous nature that had never been reached† (124). While this whiteness in literature would traditionally refer to a body the male character could not access, this text transform the meaning of purity into desire and sexuality.The â€Å"flame† of Calixta's â€Å"passion† is â€Å"white†; her body in all its ecstasy is â€Å"like a cre amy lily. † In this story, the color white might almost be better understood as red-hot. It means giving in, not holding back. Works Cited Farca, Paula Anca. â€Å"Foucault Informs Kate Chopin's Short Fiction. † Academic Exchange Quarterly 11. 1 (2007): 120-24. Print. Manning, S. L. â€Å"Kate Chopin Reconsidered: Beyond the Bayou. † The Review of English Studies (1995): 433-442. Print. Kennedy, X. J. , and Dana Gioia. Literature: An Introduction to Fiction, Poetry, Drama, and Writing. New York: Pearson Longman, 2007. Print.

Shakespeare in love and Romeo and juliet Movie Review

Shakespeare in love and Romeo and juliet - Movie Review Example In this way, Will-as he is referred to throughout the film-becomes less of a historical figure and more of a literary character in his own right; Stoppard has created a Romeo with wisdom, showing the audience what might have happened to the tragic lovers had they been less rash. Although Will is fresh faced and handsome like his counterpart, Romeo, he also has maturity and the ability to think things through. Essentially, although many parallels exist between the works, each positive and negative turn of events in Shakespeare in Love speaks to responsibility and sacrifice for the greater good rather than the impulsiveness and selfishness of youth. In the original play, Romeo and Juliet, it is love at first site, with the two falling in love upon first meeting and marrying soon after. Although Romeo woos her with beautiful words, it is clear that attraction is rooted in the chemistry they feel upon meeting more than anything else. Their families are locked in a perpetual feud and Juliet is betrothed to another man, which makes their love forbidden. This of course makes the affair more exciting but more complicated as well. When Romeo is banished for murder, Juliet concocts a plan to fake her own death but Romeo is never informed of it and kills himself in grief. Waking to find him dead, Juliet kills herself and their families are left to deal the fall out from their deaths. We are left to believe that they agree to restore peace among them. Shakespeare in Love, on the other hand, related the story of a young noble woman who falls in love first with Will's poetry, his ability to use words to paint pictures and invoke deep emotions. Many of these words are used within the film, creating a play within a play. Rather than create a direct parallel, wherein all of the elements follow a recognizable predetermined path based upon the play, Stoppard chooses to sprinkle these elements throughout the action. The feud, for example, is not between the families of the lovers for example, but between two play houses-The Rose and The Curtain-and their playwrights-Marlowe and Shakespeare. However, the death of Marlowe and the shutting down of The Rose sparks a truce between the two houses. "Will Shakespeare has a play. I have a theatre," (Stoppard) says the owner, Burbage, when he offers his stage to the now defunct players. Loss brings together these warring groups, just as it did in Romeo and Juliet; however the lesson here is greater. When both children are dead, a truce serves only to prevent further bloodshed. It will not bring these children back nor allow them to enjoy the peace that their deaths have brought. It is a bittersweet victory. However, when the two play houses form a truce, they are both elevated beyond their previous quality, producing a play worthy of the Queen's approval and praise as one that is able to truly demonstrate love. This diversion from the play serves to move the action forward by giving the play a stage, it provides everyone involved with some measure of success, and one could learn a lesson in cooperation-if they were so inclined-as neither party could have reaped the rewards on their own, our lovers Will and Viola included. Another parallel between the plays is the morning after the lovers have first consummated their love affair and are torn from each other by the quickly approaching

Product and Branding Strategies (Starbucks) Essay

Product and Branding Strategies (Starbucks) - Essay Example 2009) It is because of its high quality that the brand charges a high premium for its products. There are several other product attributes, other than the price and quality that contribute towards the image of the products offered under the brand name of â€Å"Starbucks†. Product Positioning Map Other product attributes of Starbucks coffee include taste, richness, features, design, style, innovation and customer service. These together combine to support the brand image. But for the product positioning map, there are two primary attributes that have been focused upon. The first attribute is the innovation and the second attribute is the customer service. Innovation is necessary for the positioning of the product because customer needs and wants change with time and the only way to meet the changing demand is through innovation. Customer service is also a primary aspect of positioning because it always adds value to the customers’ coffee experience at Starbucks. If innov ation is not present, then the brand might fail to serve its target market in the long run. It cannot come up with new products and cannot create demand of its new products which simply means that it will fail to make use of the opportunities available. Customer service on the other hand is a very important attribute that can help retaining the customers and attracting prospective. Consumers always want to go for the products that provide with the customer service. Starbucks incorporates both these primary attributes into its products. Starbucks specializes in gourmet coffee and there are several competitors that have entered the market of specialized coffee. These competitors include McDonald’s and Dunkin Donuts. The reason for choosing these competitors is that they do not charge as high a premium as does Starbucks though the product category is same. Starbucks heavily invests in its customer service because it believes that loyal customers are the backbone of its success a nd it is the most effective way of acquiring more loyal customers. For the attribute of innovation, Starbucks has made its own Research and Development team (R&D). The type and level of investment that Starbucks make in its R&D team is notable. It gives a lead to the brand but this gives a direction to the competitors as well because they can wait to imitate the products. Innovation at Starbucks and also the customer service are high. At McDonald’s customer service is high but innovation of the coffee product is low. Dunkin Donuts is low on both the attributes. It is low on the innovation attribute and also the customer service attribute. Following is the product positioning map of Starbucks with respect to its competitors. Customer Service High Starbucks McDonald’s Innovation Low High Dunkin Donuts Low Starbucks is present in the upper right corner of the product positioning map which means that it is both high in innovation and customer service. Similarly McDonaldâ⠂¬â„¢s is present in the upper left corner meaning that it is high in customer service but low in the attribute of innovation. And finally the Dunkin Donuts which is present in the lower left corner of the map, meaning that the coffee brand is both low on innovation and customer service. Brand Strategy in relation to the Target Market Starbucks’ target audience mainly comprises of the upscale coffee drinkers. Starbucks has a very well defined target audience. It has a target market in each age segment

Global Outsourcing outline Assignment Example | Topics and Well Written Essays - 250 words

Global Outsourcing outline - Assignment Example As the jobs of the first world make their way to the developing regions of the third world, the forces of globalization have had many unintended consequences. The loss of manufacturing jobs in the countries of the world and their movement to the lower paying developing â€Å"third world† has restructured the world economy. This proposal will explore the globalization phenomenon with an eye to outsourcing and the changes dynamics of the global economic community. Critical success factors include access to the latest research on the subject of international IT outsourcing and the availability of data in the field. Risks will be minimized through a concerted effort to maintain the highest standards of professionalism and scholarly attention to the task at hand. Accordingly, this project will most certainly benefit from the most precise and up-to-date scholarly information on the subject of

FORMAL LETTERS AND REPORTS Assignment Example | Topics and Well Written Essays - 500 words

FORMAL LETTERS AND REPORTS - Assignment Example Elsie Chan agreed with the report on the factor that there is a communication breakdown between some health professionals and their patients. Elsie agreed that some doctors judge patients based on past experiences of similar illnesses and on such basis may lose a point as all patients must be examined individually. The doctors failed to fully understand the patients problems as the patients were not given time to express themselves. Logan advocated for awareness to be created for all health professionals to examine patients individually and consider each situation on its own. Marion Hale considered the point of discrimination of patients to be totally unethical and that doctors should embrace the spirit of responsibility to their patients. Marion advocated for a separate office to be created in all hospitals to report cases of discrimination by doctors or nurses and the respective hospital management to reprimand such doctors accordingly. Kelly Mitchell seconded this idea. Mark Ryan advocated that all doctors should be reminded of their code of conduct and ethics which they vowed to follow when they graduated. Ryan proposed that these values be printed and posted in various sections of hospitals to remind them regularly. Nick Yanes raised concerns that patients too had a role to play in the whole scenario. He advocated for patients to be sensitized on the importance of them giving adequate information to doctors as this will help doctors assess them accordingly. Mitchell Jones advocated for strengthening of the counseling department in hospitals to assist those patients that are emotionally despaired due to their illnesses and not willing to

Decision Making Research Paper Example | Topics and Well Written Essays - 750 words

Decision Making - Research Paper Example Ron felt the cost of buying that additional equipment is higher. As the machine has been bought a year back inclusion of these items should be of some use. It should not incur an extra cost. The equipments have to be effective in improving the machine's performance. Ron hesitated to accept the deal in the beginning. If the item is bought, there should be some savings in the cost. The cost of the parts was higher. Although the sales person was explaining Ron about its uses, he was not sure of going in for that product. The sales person then explained Ron about its total cost. The cost seemed to be higher but the sales person then said the initial amount is high. But this investment will be of great use. The initial cost is more but the average amount of that equipment will amount to $1 per day. The executive said this cost will be less than the normal money spent for a soda can. Then Ron started thinking about its benefits. As it was impressive he thought investing some more on that machine will definitely help in the future. Hence he decided to buy the additional equipments. Ron's decision will help in the longer run of the machine, which is an advantage to the company. The decision taken by Ron will be beneficial as it ensures some advantages to the machine and the company. Any decision cannot be taken without analyzing its pros and cons. (Lynch 2009).Equipment cannot be bought since it will be of some use which may lead to some problem in the future. The way Ron handled the situation was correct as getting an item without knowing its purpose and use will not be of any help. As a production manager of a company Ron has some responsibilities of selecting and getting goods that should bring profit to the organization. It is difficult to come to a conclusion without thinking how far it will help the existing machine. In the beginning of the meeting Ron listened to the sales executive's ideas and her opinion about the equipment's use. Then he thought about the various criteria like cost and life of the machine. The presentation had the entire details of the item, the advantages and the features of it. It also showed the options and it clearly explained its usage. Then Ron felt the cost of the additional parts is higher than expected. The sales person started explaining that investing in this equipment will help in increasing the production and the average amount will be $1 a day. Ron then gave it a thought whether it will be worth investing a huge amount on a machine that has been bought a year back. Considering all these options, Ron finalized the purchase of that equipment. The major reason for buying this item is that it can increase the production and will help the company in getting more profit. Although Ron was hesitant to purchase the additional item, after listening to the executive's explanation he changed his decision. Decision has to be taken keeping in mind all its consequences and effects. Any decision may have either a good or bad effect. Proper analysis has to be carried out before making a decision. Decision is made depending on the situation and the issue. The decision made cannot be favorable for everyone in all circumstances. It may lead to improvement or adverse effects on the situation. In this scenario, Ron had to consider several aspects as any wrong step will land them in problem. Any decision cannot be taken as per an individual's wish. Especially in companies a decision has to be made only after

Supermarket Industry Essay Example | Topics and Well Written Essays - 2500 words

Supermarket Industry - Essay Example With the increased competition, many people in the supermarket industry have realized the importance of offering a wide range of products from groceries, electronic items, and clothing among other items which will ensure that their shops have a competitive edge over the rest of their rival supermarkets. The supermarket industry has therefore played a significant role in the growth of the economy in terms of creating employment, provision of vital goods to customers among other roles and most of the supermarkets have undeniably adapted it. Nevertheless, most of the international supermarkets such as wal-mart have been able to survive and they have been able to reinvent themselves over a period of time so as they can be able to attract and maintain a wide base of loyal customer and increasing their sales volume (Robert, S. 2003). Most of them have come up with new concepts and innovation and hence they have been able to succeed in their endeavors. In this world where competition is thrive, it seems as everybody is following the same line where most of the supermarkets have become a one stop shopping p... On the other hand, the supermarket industry is currently faced with some challenges of trying to maintain a market share and profits while attempting some of the new concepts in order they would be able to differentiate themselves from other types of retailers (Carmen, M. 1994). It has been shown that there has been some major demographic and consumer lifestyles which have changed the shopping behavior of consumers and that are why consumers choose where to shop and the products they require (Robert, S. 2003). On the other hand, most of the traditional supermarkets have witnessed a decline in how much shoppers spend and how frequently they shop in a particular store and hence the importance of the changes that have been witnessed in most of these supermarkets (Narasimhan, S. 2006). While there have been some supermarket operators whom have attempted to reduce the operational cost and slashing the prices of the products they stock, they find this to be a tough approach when competing with low cost operators like Wal-Mart and Costco and hence there is a need of re-evaluating their strategies (Kahn, B. 1997). Literature review Majority of supermarkets are essentially devising various strategies of increasing their sales volume and maintaining customer loyalty over the years, and some of the strategies used is diversifying in their products and reducing the prices of their products. However, in our increasingly busy lives, consumers are relying on supermarkets for all their shopping needs due to the fact that it is a one shopping place (Kaufmann P.J. 1994). It has been shown in various instances that customers know what to expect and want and whenever they walk into

Economics Assignment Example | Topics and Well Written Essays - 2000 words - 3

Economics - Assignment Example Manufacturers are essentially limited to the manufacturing of mobile handsets and accessories and supply them to the mobile phone network service providers. Most of the major manufacturers of mobile phone sets are however, foreign and UK imports mobile phones. Major manufactures of mobile phone handsets include Nokia, Samsung, Apple, Sony Ericson are all foreign firms providing mobile phone handsets and other accessories to the service providers.1 Network operators offer airtime and data services to the end users as well as other tied services. They also offer services to indirect services providers as well as the virtual network service providers. They also sell packages to the customers as well as to the dealers to provide pay as you go as well as other bundled services to end users. Dealers actually operate through their retail outlets and offer mobile phone handsets as well as services obtained from the network operators. Though there are large numbers of smaller and independent dealers however, market seems to be dominated by the few very large dealers such as phone4U and other dealers. The growth of mobile phone networks in UK started during 1985 when government started to de-regulate the market. Since then there has been mushroom growth of the mobile networks in the country. Over the period of time, new services have been added thus increasing the overall depth and breadth of the market. (Doyle and Smith, 1999) Some estimates suggest that there are more than 80 million users of mobile phone data services across the country. Such growth in the market therefore suggests that UK is one of the growing markets for the mobile phone networks. What is also critical to understand that the overall number of service providers have remained limited despite such growth in the market. Initially very few operators were allowed to operate however the overall inclusion rate has increased in the recent past. Firms like Orange, O2, and Vodafone

War 1812 Assignment Example | Topics and Well Written Essays - 250 words - 1

War 1812 - Assignment Example The goal of antislavery Republicans was to restore the Union and abolish slavery. They wanted the war to continue until the attainment of these goals. Originally, Lincoln did not recognize emancipation as the war’s goal, but he was burdened by the escape of several slaves in the South (â€Å"The Civil War†). With the fate of the Union being at stake, Lincoln was primarily committed to save the Union. His prime concern was to save the Union with or without freeing the slaves. Events led to the surrender of Lincoln to the antislavery republicans’ pressure. This made slavery the prime factor in Civil War and made the abolition evolve as a strategy to preserve the Union and put an end to the rebellion. Therefore, the president drafted emancipation’s general proclamation which was finally issued on 22 September 1862 and signed and approved by Lincoln on 1 January 1863. Abolitionists were concerned after the war that since the emancipation proclamation was deriv ed from the wartime powers of Lincoln, its power might wane. End of slavery in the US was an event of global significance

Social and Political Implication of Social Media Essay Example for Free

Social and Political Implication of Social Media Essay Communication is as old as humankind, it is the basis of social interactions and life blood of human societies, we can say without communication. Each individual would merely be an island isolated from all other such islands, communication in a simple sense is the process of transferring meaning in the form of ideas or information from a person called the sender to another or people called receivers. The human life depends on communication to attain their full potentials, communication is also a social necessity without it there cannot be real community or society because it is the link between individuals who constitute a community and the link between community in the formation of a larger whole-a metropolis, a province or a nation, society as a whole cannot survive today if they are not properly informed about political affairs, international and local events, all these functions are perform through a media which are the vehicles of transmitting information. In essence, when people communicate with one another, they do so by a medium, some device or process through which they convey information, these means which people use is called social media. 2 This paper will pretend a short historical back ground of social media, the development of social media will be summarized, and much attention will be on the current means of such media which has taken a paradigm shift as a result of technological advancement and modernism such as internet, home video, news paper, magazines, e. . c the social and political implications will be critically explored, for the umpteenth time we should have it in mind that social media has ethical end epistemological implication in human kind and the society, in fact some of its implication could be said to be negative while some could be describe as positive, the implication affects all aspect of human life, belief, religious and even the socio-economic status, most importantly the governance of this great country Nigeria. Social medial technologies take on many different forms including magazine, internet forums, weblogs, social blogs, microbloggind, wikis, social networks, podcast, photographs or pictures, video, rating and social bookmarking, Technologies include: blogs, picture-sharing, wall-postings, email, instant messaging, to name a few, many of these service are integrated via social network aggregation platform by applying a set of theories in the field of media research (social presence, media richness) and social processes (self-presentation, self-disclosure) Kaplan and Haenlein created a classification scheme with different types of social media, they are ;collaborative projects for example, Wikipedia, blogs and microblogs like Twitter, content communities for example, YouTube, social networking sites like Facebook, and virtual social worlds, however, the boundaries between the different types have been increasingly blurred. Social media refers to the means of interaction among people in which they create, share and exchange information and ideas in communities and network. Andreas Kaplan and Michael Haenlein define social media as a group of Internet-based applications that build on the ideological and technological foundations of Web and that allow the creation and exchange of user-generated content,5 social media depend on mobile and web-based technologies to create highly interactive platforms through which individuals and communities share, co-create, discuss, and modify user-generated content, It introduces substantial and pervasive changes to communication between organizations, communities and individuals. Media is as old as human kind as said earlier, from the ancient time, history make it know that our great grand-fathers make use of gong, songs e. t. to communicate, pass information and transfer beliefs, there was paradigm shift as a result of education and civilisation, gong now change to written literatures such as news paper, then technology now help in developing telecommunication such as Television station, radio station, and the current social media, while other media such as magazine, published works also developed, today social media is the leading means and is now in various form, internet website that post information to the whole world in second such as facebook, twitter, 2go, Ebuddy and sites and blogs. 7 Social media differentiates from traditional/industrial media in many aspects such as quality, reach, frequency, usability, immediacy and permanence. There are many effects that stem from internet usage, according to Nielsen, internet users continue to spend more time with social media sites than any other type of site 8. Social media in sum is the communication channels through which news, entertainment, education, data or promotional messages are disseminated this includes every day broadcasting and narrowcasting medium such as newspaper, magazine , T. V, radio, bill boards, direct mail, telephone, fax and internet, social media offers innovative opportunities for people, in a democratic society like Nigeria, social media offers innovation to political actors, political institutions and the public to interact with one another. As said from the beginning that social and political implication of social media could be ethical and epistemological, Cultivational theory expose some ethical issues is a theory that also provide justification about the implication of social media, this theory states that the media is essential with the responsibility for the way in which people view the world,9 this theory explain that media heavily impacts society by influencing the normal view of gender roles, body image and normality, the theory attributes extreme social power to the media and hold that people are taught over time to respond to situations based on what they think is the appropriate way, this theory in essence show some epistemological and ethical implication of social media on human kind, , media teaches normality through television, video, music e. t. , this theory assumed the life we live as a reflection of media ideals that have been portrayed to us since childhood for example we tend to see small children im itating and practising what they watch in movies, most ladies watch Nollywood movies on the internet to sharpen their romantic styles and learn some other necessities of life, styles of dance either good or bad example is the idea of sagging of trouser common among people all these media influences. The truth is we generate belief from media and perceived that it is normal way to live, various advertisement tell woman how to dress, cook and soon on, a recent study in University of Washington found that the amount an adolescent watches soup operas and musical videos is directly correlative with negative body image. Psychological egoism is another implication of social media, psychological egoism is the view that people act in their own interest even what seem to be acts of altruism11, owing to the fact that social media is used as a tool for some people, in a democratic setting like Nigeria, politicians and government use social media for their egoistic nature, the media publish orchestrated information to either promote image or give wrong destroy image, here we realized that the epistemic belief that most of this social media project to the world are cooked, biased and distorted, and these are registered in the mind of people in the society, no doubt also that this info sometimes reveal certain secret, recently through social media Nigerians known that the so called spokesperson of Nigeria Security and Civil Defence Corps, Lagos command do not know the official website of the Corps he is working for, this popular scenario is tagged my oga at the top courtesy Channels television The corollary of the above is that media circulate information, beliefs and knowledge, either acknowledge or not, to the society in a very speedy rate, the question now remains the authenticity and genuineness of this information. Social media are becoming increasingly popular among politicians and organisations as a means to disseminate political message, learn about the interest and needs of constituents and broader public, raise funds and build network support, these activities often take place is private run social networking site or stations that allow political figures and institution to communicate with the public in unmediated, society media are being used by Citizen also to connect with the public, influences decision makers and hold legislature and government to account, take the case of January 2013 subsidy removal, many people could not get to Abuja but somehow they made their opinion known to people through the website one way or the other in form of internet gossiping, example is a social site called Niaraland, people chat there, gossip, make connections either for business or another thing maybe like love affairs and so on, in essence this site through the gossips of it member evaluate the activ e the politicians or government of the country is. Since social media give anyone with internet access an opportunity to disseminate their ideas, the mainstream media sources no longer ,monopolize information channels, in turn new issues and ideas that might otherwise be ignored by the mainstream media can receive public attention, given the vary level of expertise, individual users have unequal right to full potential of social media as a publishing platform, what this implies is that social media help in exercising freedom as a component of modernism, liberalism and democracy. Another social and political implication of social media is that it enables citizen to become more effective political actors, social media remove barriers to collective action and empower citizen to influence and monitor the work of policy makers through a long distance participation, social medial also allow citizens to interact with public institutions and figures in an informal and interactive manner, through social media who are avid users of social media often discuss political issues interactively online with the opportunity to reach a large audience with criticisms of political figures and institutions, another similar social and political implication is that it provides opportunity for synthetic lobbying 12, well crafted and executed social media campaigns led by special interest groups can dominate online exchanges with political figure and institution to the point where decision makers are misled about the actual extent to which ideas are shared via these campaigns as repr esentative of a widely held point of view, such advocacy tactics are often referred to as synthetic lobbying, this occur when coordinated letter writing campaigns have long been an element of politics and the policy process and policy makers have developed mechanisms that identify online submission from the public that form part of coordinated advocacy campaigns by weeding out these particular submission whether email to representative or submitted to an online forum. The use of social media by public institution and figures may lead to surveillance state, by monitoring the information shared citizens on a special media sites, policy makers and representative can gain a better understanding of citizens interest and needs, also government can also use this to work against those they see as opposition, as reported by virtually all Nigerian Newspaper on April 25, 2013, the president of Nigeria Goodluck Ebele Jonathan GCFR, awarded a contract over forty million US Dollars to one Israeli company to monitor emails and social network communications, this is part of the implication of social media we are talking about, it implies that the freedom of the people in the society is somehow restricted, I should be aware now that my so called private email message is monitored if one way or the order I radically against the government , it could be hazardous, though this surveillances could also help in checking certain fraudulent activities like yahoo fraudste rs, organised crime and terrorism networks, and so on, but the implication of this is that the negative freedom as Isaiah Berlin postulated, that is, absence of external constraint in individual to act the way they want example is freedom of speech 13, this negative freedom is will now be limited, whatever this implication (surveillance state) appears either positive or negative, data shared by citizens via social media including sexual orientation, religious belief, political affiliation and other sensitive information will be monitored and used in ways that breach privacy right. A cursory survey of this work shows a philosophical discourse on media and social media, its social and political implication has been so far discussed, in sum the implications are both ethical and epistemological, social media has become instrument that create awareness, publicise beliefs and transmit norms, it could be said that most of the action of human kind if not all is an imitation from the media, the implication of social media is undoubtedly positive and negative. In addition the picture of a society is painted to the world through social media, some years back when Dr Dura Akuyili was still the minister of information, she embarked on a project called rebranding with the slogan Nigeria good people, great nation, this was to change the bad image of the country and most of the activities she used to perform this crusade were majorly on media and social media. Much of the criticism of social media are about its exclusiveness as most sites do not allow the transfer of information from one to another, disparity of information available, issues with trustworthiness and reliability of information presented, concentration, ownership of media content, and the meaning of interactions created by social media. However, it is also argued that social media has positive effects such as allowing the democratization of the internet while also allowing individuals to advertise themselves and form friendships Most people associate social media with positive outcomes, yet this is not always the case. Due to the increase in social media websites, there seems to be a positive correlation between the usage of such media with cyber bullying, online sexual predators and the decrease in face-to-face interactions, social media may expose children to images of alcohol, tobacco, and sexual behaviours. Whether the implications are beneficial or risky, what is clear is that social media are quickly becoming standard communications tools for political figures and institutions and the citizens they serve, this paper recommend whoever is still lacking the knowledge of using social media to do that without wasting time, above all apply Descartes methodic doubt to every information the social media provided, that is subject social media information to thorough scrutiny before taking them as beliefs, also this paper remind the public of the dangers and vices of social media hence, the wise be more wise and the less wise should upgrade not be a victim of the bad influences.

Technical Report On Cell Phone Jammers

Technical Report On Cell Phone Jammers Cell phone jammer is device used to prevent cellular phones from receiving signal from base station. They can be used anywhere but mostly used where phone call would be disruptive. Cell phones are very useful because we are able to contact anyone at anytime but sometimes it become nuisance. Some cell phone users dont know when to stop talking. Jammers are used at classrooms, temples, churches where silence is required. It creates a temporary dead zone to all cell phone traffic in their air system. How a Cell Phone Jammer works Disrupting a cell phone is the same as jamming any other type of radio communication. A cell phone works by communicating with its service network through a cell tower or base station. Cell towers divide a city into small areas. As a cell-phone user drives down the street, the signal is handed from tower to tower. Jamming device transmits on the same radio frequencies as the cell phone, disrupting the communication between the phone and the cell-phone base station in the tower. Its a called a denial-of-service attack. The jammer denies service of the radio spectrum to the cell-phone users within range of the jamming device. Cell phone Jamming Device Jamming devices overpower the cell phone by transmitting a signal on the same frequency and at a high enough power that the two signals collide and cancel each other out. Cell phones are designed to add power if they experience low-level interference, so the jammer must recognize and match the power increase from the phone. Cell phones are full-duplex devices, which mean they use two separate frequencies, one for talking and one for listening simultaneously. Some jammers block only one of the frequencies used by cell phones, which has the effect of blocking both. The phone is tricked into thinking there is no service because it can receive only one of the frequencies. Less complex devices block only one group of frequencies, while sophisticated jammers can block several types of networks at once to head off dual-mode or tri-mode phones that automatically switch among different network types to find an open signal. Some of the high-end devices block all frequencies at once, and others can be tuned to specific frequencies. To jam a cell phone, you need a device that broadcasts on the correct frequencies. Although different cellular systems process signals differently, all cell-phone networks use radio signals that can be interrupted. GSM, used in digital cellular and PCS-based systems, operates in the 900-MHz and 1800-MHz bands in Europe and Asia and in the 1900-MHz band in the United States. Jammers can broadcast on any frequency and are effective against AMPS, CDMA, TDMA, GSM, PCS, DCS, iDEN and Nextel systems. Old-fashioned analog cell phones and todays digital devices are equally susceptible to jamming. The range of the jammer depends on its power and the local environment, which may include hills or walls of a building that block the jamming signal. Low-powered jammers block calls in a range of about 30 feet (9 m). Higher-powered units create a cell-free zone as large as a football field. Units used by law enforcement can shut down service up to 1 mile (1.6 km) from the device. Inside Cell phone Jammers Cell-phone jammers are very basic devices. It just has an on/off switch and a light that indicates its on. More complex devices have switches to activate jamming at different frequencies. Components of a jammer: Antenna Every jamming device has an antenna to send the signal. Some are contained within an electrical cabinet. On stronger devices, antennas are external to provide longer range and may be tuned for individual frequencies. Circuitry: The main electronic components of a jammer are: Voltage-controlled oscillator Generates the radio signal that will interfere with the cell phone signal Tuning circuit Controls the frequency at which the jammer broadcasts its signal by sending a particular voltage to the oscillator Noise generator Produces random electronic output in a specified frequency range to jam the cell-phone network signal (part of the tuning circuit) RF amplification (gain stage) Boosts the power of the radio frequency output to high enough levels to jam a signal Power supply Smaller jamming devices are battery operated. Some look like cell phone and use cell-phone batteries. Stronger devices can be plugged into a standard outlet or wired into a vehicles electrical system. Cell phone Jammer Applications Cell phone jamming devices were originally developed for law enforcement and the military to interrupt communications by criminals and terrorists. The bombs that blew up commuter trains in Spain in March 2004, as well as blasts in Bali in October 2002 and Jakarta in August 2003, all relied on cell phones to trigger explosives. It has been widely reported that a cell-phone jammer thwarted an assassination attempt on Pakistani President Musharraf in December 2003. When President Bush visited London in November 2004, it was reported that British police considered using jammers to protect the presidents motorcade through London. During a hostage situation, police can control when and where a captor can make a phone call. Police can block phone calls during a drug raid so suspects cant communicate outside the area. Cell-phone jammers can be used in areas where radio transmissions are dangerous, (areas with a potentially explosive atmosphere), such as chemical storage facilities or grain elevators. Corporations use jammers to stop corporate espionage by blocking voice transmissions and photo transmissions from camera phones. There are rumors that hotel chains install jammers to block guests cell-phone usage and force them to use in-room phones at high rates. Cell Phone Jamming Legal Issues In the United States, United Kingdom, Australia and many other countries, blocking cell-phone services is against the law. In the United States, cell-phone jamming is covered under the Communications Act of 1934, which prohibits people from willfully or maliciously interfering with the radio communications of any station licensed or authorized to operate. In fact, the manufacture, importation, sale or offer for sale, including advertising, of devices designed to block or jam wireless transmissions is prohibited as well. Jamming is seen as property theft, because a private company has purchased the rights to the radio spectrum, and jamming the spectrum is akin to stealing the property the company has purchased. The Federal Communications Commission is charged with enforcing jamming laws. However, the agency has not yet prosecuted anyone for cell-phone jamming. In most countries, it is illegal for private citizens to jam cell-phone transmission, but some countries are allowing businesses and government organizations to install jammers in areas where cell-phone use is seen as a public nuisance. Armenia: legal [citation needed] Australia: illegal to operate, supply or possess Belgium: illegal to sell, possess and operate (licensed part of the spectrum). Canada: illegal, except by federal law-enforcement agencies who have obtained approval Peoples Republic of China: Used by the Education government department as a method of thwarting cheating in schools. During major end of year exams, mobile phone jammers are used in areas surrounding high schools to prevent students inside from receiving calls or text messages, which may be used for illicit purposes. In some municipalities however, rather than the use of jammers, mobile signal towers close to schools are temporarily shut down for the duration of the week as exams are in progress. Czech Republic: illegal. Denmark: illegal. Finland: illegal. France: France legalized cell-phone jammers in (movie) theaters and other places with performances in 2004.Abandoned due to complaints regarding emergency calls. Still legally used inside jails. Germany: illegal, but installation in jails has been proposed. India: Government, Religious Places, Prisons and Educational Institution use jammers. Iran: illegal to operate for civilians but allowed for police forces and military. It is however legal to own such units, which can be bought in electronic markets without a license. In most jails, libraries and university classrooms such jammers are already in use. In the 2009-2010 Iranian election protests, police forces used cell phone and Bluetooth jammers. Ireland: illegal to operate. Legally used inside prisons by the Irish Prison Service. Italy: technically not illegal to own, but illegal to operate, since the Italian law specifically prohibits disturbing radio and telephoning communications. GSM jammers are however legal to be used in places like hospitals, churches, movie theatres and other places with performances, and other buildings where and when the use of mobile telephones may result in a leak of sensitive information: on such occasions, jammers are legal as long as their operation doesnt interfere with electronic medical equipment and allows mobile phones to make emergency calls. Tri-Band Jammers are reserved to, and in use with, the police forces and are being experimented in prisons. Japan: Illegal to use, but legal to own. Buying of mobile short range versions is allowed. Use of fixed high output jammers with long range is illegal, with fines of up to max $250,000USD and/or 5 years in prison. Mexico: legal inside jails, often used also in churches and hospitals. New Zealand: legal inside jails. Norway: illegal to own and operate. The police and the military can use jammers in situations in which it is necessary. Pakistan: legal inside banks, often used also in libraries. Switzerland: illegal. Turkey: illegal. Only the police and the military use jammers. Ukraine: legal, planned to be used in schools United Kingdom: illegal to use, but legal to own. Installation in jails has been proposed United States: Cell phone blocking devices are used by federal officials under certain circumstances. Privacy rights of property owners may affect the policy and application of law within buildings. The FCC may issue a permit that waivers the law for private use. Alternatives to Cell Phone Jamming While the law clearly prohibits using a device to actively disrupt a cell-phone signal, there are no rules against passive cell-phone blocking. That means using things like wallpaper or building materials embedded with metal fragments to prevent cell-phone signals from reaching inside or outside the room. Some buildings have designs that block radio signals by accident due to thick concrete walls or a steel skeleton. Companies are working on devices that control a cell phone but do not jam the signal. One device sends incoming calls to voicemail and blocks outgoing calls. The argument is that the phone still works, so it is technically not being jammed. It is a legal gray area that has not been ruled on by the FCC as of April 2005. Cell-phone alerts are available that indicate the presence of a cell-phone signal. These have been used in hospitals where cell-phone signals could interfere with sensitive medical equipment. When a signal is detected, users are asked to turn off their phones. Cell-phone users dont know theyre being jammed. The phones just indicate that theres no service or no signal from the network. The jammer simply interrupts the phones ability to establish a link with the nearest cell-phone tower. If the battery on your phone is okay, and youd like to continue your conversation, try walking away from the area. You may be able to get out of the jammers range with just a few steps. Every technology has good aspect as well as bad aspect the important thing is, how we are using it. There are some bad aspects of mobile Jammers like: Jamming blocks all calls in the area, not just the annoying ones. Jamming a signal could block the call of a babysitter frantically trying to contact a parent or someone trying to call for an ambulance. Cell Phone Jammers are very useful to society from the antisocial elements. We can save our national leaders. We can restrict the communication network between the anti social elements. Cell phone Jammers prevent the students from carrying cell phones to the college.

Sources Of Finance For Marks And Spencers

Sources Of Finance For Marks And Spencers Marks Spencer is one of the leading retailers in UK with average 21 million customers visiting per week in stores. They provide with quality clothing, home products and food which is supplied by approximately 2000 suppliers all over the world. The company has 75,839 employees as evaluated in 2008 and has about 700 stores in UK. The 49% of the sales is occupied by clothing and home products while 51% is occupied by food products. Outside UK the company operates in approximately 40 other countries which include India, China and Indonesia etc. The companies 90% business comes from sales in UK while rest comes from overseas sales. Marks Spencer values Quality, Value, Service, Innovation and Trust. The company generated an overall revenue of  £9062.1 million as on 28th March, 2009. The overall profit was  £768.9 million of which  £652.8 million was generated from operations in UK and  £116.1 million from operations overseas. The case study takes into consideration the analysis of financial reports of Marks and Spencer and relates the academic principles of Corporate Finance with the analysis of the report. 2. SOURCES OF FINANCE 2.1 SHORT MEDIUM TERM FINANCE Trade Credit Trade Credit is finance obtained from suppliers of goods and services over the period between delivery of goods and the subsequent settlement of the account by the recipient. (Pike Neale, 2006) It is sometimes also called spontaneous finance as the company can enjoy the goods or benefit from the service provided without having to pay up. Common way of expressing the credit term is- 2/10 : net 30 This implies that the supplier will provide 2% discount if the money is payed back in 10 days otherwise the company has to pay full payment in 30 days. The length of the trade credit depends on certain factors like industry custom and practice, relative bargaining power and type of products. Factoring- Sometimes the suppliers need payment earlier than expected. Institutions called factors help by offering to purchase a firms debtors for cash. Factoring involves raising immediate cash based on the security of the companys debtors, thus accelerating payments from customers. Bank Credit Bank lending to companies is predominantly short term, although now it is also a valuable source of medium term finance. Overdrafts Overdrafts specify the amount that a company may withdraw either in forms of cash or cheques. Interest is charged on a daily basis depending on how much the company is overdrawn each day. Bank generally takes security which can be fixed charge (where overdraft is secured against specific asset) or floating charge (which offers security over all of the companys assets) Short Term Loans Short term loans are generally provided for more than 1 year. The bank can charge variable or fixed rate of interest. Usually fixed rate of interest is quite high. Variable rate of interest can be also in various forms: Bullet Loans Balloon Loans Revolvers It allows the borrowers to borrow, repay and re-borrow over the life of loan facility. Securitisation This is the practice whereby instead of lending money to customers, banks raise finance for them by arranging and selling to customers their securities like commercial papers often allowing lower interest rates. Bill Finance Bill allows the company to pay out a specific amount after a specific period of time. Bills of Exchange Trader purchasing goods from suppliers draws up a bill stating a promise to pay at some future date and its up to the supplier to keep the bill or sell it in the market at a discount if he needs the money earlier. Acceptance Credit It is a tie up between the company and the bank. The bank issues a bill for the company and company can use it at a later date. The bank can sell the bill in the market at a discounted price. If it does then the company collects the money from the company which bought the bill from the bank. Hire Purchase It may be simply defined as hiring with the option to purchase. On payments of final installment ownership of the asset passes to the customer. The inland revenues will generally permit the customer to claim and retain capital allowances provided that the option to purchase fee is less than the market value at the end of the contract term. Leasing A leasing transaction is a commercial arrangement whereby an equipment owner conveys the right to use the equipment in return for payment by equipment user of a specified rental over a pre-agreed period of time. (Pike Neale, 2006) 2.2 LONG TERM FINANCE Equity Shares are described as permanent capital because the funds supplied for their acquisitions are non-returnable in most circumstances other than in the event of a liquidation. Shares are issued at nominal value and are sold at the market price. Shareholders have a share in ownership of company and also have voting rights. Dividends are payed as a percentage return on their nominal value. A company can receive equity finance from various sources like Business Angels: Private equity investor with spare funds to invest who wishes to gamble on the future prospects of young companies. Venture Capital: Sale of equity to a specialist institution that may also provide management assistance. For e.g. 3i. Obtaining a Quotation (IPO) Preference Shares Preference shares are entitled to a fixed percentage dividend, which is paid before any profits are distributed to ordinary shareholders. Participating preference shares may be entitled to some extra dividend, over and above their fixed dividend entitlement. Convertible preference shares can be converted to ordinary shares. Cumulative preference shares have unpaid dividends that are carried forward and must be paid before dividends are paid to ordinary shareholders. Preference share holders do not qualify for tax relief. Debt Debentures Debentures are basically loan secured on company assets with floating or fixed interest rate. It is a multiple loan to the company in the sense that it is contributed by several people opposed to just one individual. Debenture holders are creditors but not members of the company. Loan Stock is a kind of debenture that is issued at face value. It is not secured on assets but effectively secured on firms earning power, thus more risky and lower ranking of payment. Debentures issued at large discounts and redeemable at par or above are known as Deep Discount Bonds. They are generally issued at low rate of interest but have cost of redemption. Mortgages It is a form of secured loan placing the title deeds of property with a lender as security for a cash loan. The interest is payable on the amount borrowed. Warrants They are rights given to investors allowing them to buy new shares in a company at a future date, at affixed given price. They are generally issued alongside unsecured debt as a bribe to potential investors. 2.3 SOURCES OF FINANCE IN MARKS SPENCER 2.3.1 Current Non-Current Liabilities Current liabilities are the one MS needs to pay within 1 year time whereas non-current liabilities are the one MS can pay any time after 1 year. As per the annual report for MS, Current Liability MS has short term loans in the form of Bank Loans and overdrafts worth  £147.9 millions. Syndicated Bank Facility worth  £781.2 million which relates to a  £1.2 bn committed bank revolving credit facility set to mature on 26 March, 2013. Finance Lease liability worth  £13.7 million. The average lease term for the equipment is 6 years and 125 years for property. Interest rates are fixed. Non-Current Liability Bank Loans worth  £11.2 million. Finance lease liabilities worth  £88.2 million. Medium-term notes worth  £ 2018.5 million. 2.3.2 Net Assets Equity Ordinary Share Capital Shares  £m Allotted, called up and fully paid ordinary shares of 25p each At start of year 1,586,478,423 396.6 Shares issued on exercise of share options 2,217,763 0.5 Share purchased in buy-back (10,901,267) (2.7) At end of year 1,577,794,919 394.4 2,217,763 ordinary shares having nominal value were allotted during the year under two schemes namely Save As You Earn (SAYE) Share Option scheme and Executive Share Option Scheme. In SAYE, the board may offer options to purchase ordinary shares in the company once in each financial year to those employees who enter into an HM Revenue Customs approved (SAYE) savings contract. In terms of Executive Share Option Scheme, the Board may offer options to purchase ordinary shares in the company to executive directors and senior managers at the market price on a date to be determined prior to the date of the offer. 10.9 million shares having a nominal value of  £2.7m were bought back and subsequently cancelled during the year in accordance with the authority granted by the share holders at the Annual General Meeting in July 2007. Share Premium Account A reserve setup to account for the issue of new shares at a price above their par value. (Pike Neale, 2006) In MS, Share Premium Account had  £ 236.2 m as on 28th March, 2009 out of which  £ 231.4 m were carried forward from previous year and  £ 4.8 m was from share issued on exercise of employee share options. Capital Redemption Reserve It is a reserve established when the firm buys its own shares in a scenario that result in loss of share capital. In MS it was worth  £ 2202.6 m. As discussed earlier  £ 2.7 m worth were purchased in buy back, thus added to the capital redemption reserve. Hedging Reserve Hedging is an attempt to minimize the risk of loss stemming from exposure to adverse foreign exchange rate movements. MS as on 28th March,2009 had  £ 62.6 m in Hedging Reserve. 2.3.3 Net Debt Cash Cash Equivalents It includes short term deposits with banks and other financial institutions, with an initial maturity of three months or less and credit card payment received within 48 hours. It was worth  £ 422.9 m for MS. Financial Assets MS has current and non-current assets worth  £ 53.1 m that includes unlisted investments and Listed UK Securities. Bank Loans Overdraft MS has current and non-current loans overdrafts that include  £ 4.0 m loan from the Hedge End Park Limited joint venture. Syndicated Bank Facility It relates to a  £ 1.2 bn committed bank revolving credit facility set to mature on 26 March 2013 and is worth  £ 781.2 m. Medium Term Notes These are notes that actually retire in 5 to 10 years. A corporate note continuously offered by a company to investors through a dealer. Investors can choose from differing maturities, ranging from nine months to 30 years. (Forbes Digital) In MS these notes are issued under MS plcs  £ 3bn European Medium Term Note Program and all pay interest annually. The medium term notes are worth  £1848.1 m. Finance Leases It is groups policy to lease certain of its properties and equipments under finance leases and is worth  £ 101.9 m. 3. COST OF CAPITAL 3.1 Weighted Average Cost of Capital 3.2 Weighted Average Cost of Capital for MS As seen earlier MS has capital in the form of debt and equity. To evaluate the Weighted Average Cost of Capital, we need to evaluate Cost of Debt ( Kd) Cost of Equity ( Ke) Weight or proportion of debt equity Cost of Debt (Kd) To evaluate Kd, we need to find I = Interest paid for the debt MV(Market Value) = Total current Market Value of the Debt T = Corporate Tax if any As Kd = [I(1-T)] / MV X 100 Looking at the Annual Report we can see in Cash flows from financing activities that : I =  £ 197.1 m which is approximately 7.9% In Taxation Charges T = 28% In net Debt MV =  £ 2490.8 m Thus we can calculate Kd by putting in the values as: Kd = [ 197.1 m(1-.28)]/ 2490.8m X 100 = (141.912/2490.8) X 100 = 4.7 Cost of Equity To evaluate Ke, we need to evaluate D = Dividend on ordinary share capital MV = Market value of equity As Ke = (D/MV) X 100 Looking at the report we can find Net dividend = 22.5 p per share The total no. of shares at the end of the year = 1,577,794,919 The total Dividend D = .225 X 1,577,794,919 =  £ 355 m approx Market Value MV= .25 X 1,557,794,919 =  £ 394.4 m Therefore Ke = (D/MV) X 100 = (355/394.4) X 100 = 90 Weighted Average Cost of Capital (WACC) Weighted Average Cost of Capital can be calculated by formula WACC = Ke[ E/(E+D) ] + Kd [ D/(E+D) ] Where E = Market Value of Companys Equity D = Market Value of Companys Debt Therefore WACC = 90[394.4/(394.4 + 2490.8)] + 4.7[2490.8/(394.4 + 2490.8)] = (90 X 0.135) + (4.7 X .86) = 12.15 + 4.902 = 17.052 % 3.3 Gearing Indicators for MS To be done Capital Gearing Capital Gearing = 4. INVESTMENT APPRAISAL TECHNIQUES An investment project is a series of cash inflows and outflows, typically starting with cash outflows (the initial investment outlay) followed by cash inflows and/or cash inflows in later periods. (Gotze, Northcott, Schuster, 2008) The financial manager needs to employ appraisal techniques in order to decide which projects to accept and which to reject because these decisions largely shapes the future of the business and its ability to manage its future operations. The project accepted must meet the financial criteria of the company, generally its a return greater than the cost of capital needed to finance it. 4.1 Return on Investment (Accounting Rate of Return) This approach expresses the profit before tax arising from an investment as a percentage of the total outlay on the investment. When using the return on investment approach the project which gives the highest ARR is the one that should be accepted. Difficulties arise with the method when the duration of the investment extends for more than one year, as it then becomes necessary to determine some representative profit and investment value for the duration of the project. Other problem is that profits are the results of receipts and outgoings and they do not represent cash transactions and the cash flow arising is not taken into account during the term of the investment. 4.2 Return on Investment (ARR) related to MS As per the annual reports of MS from year 2006 to 2009, MS has invested on property. The investment, depreciation Net Profit are described in the annual report related to property. The tax budgeted profits are assumed accordingly. Year 2006 2007 2008 2009 Investment  £ 38.5 m  £ 24.1 m  £ 24.3 m  £ 24.3 m Budgeted Profits  £ 4 m  £ 4 m  £ 32 m  £ 8 m Less Depreciation ( £ .1 m) ( £ .2 m) ( £.3 m) ( £ .5 m) Tax ( £ 9.6 m) ( £ 1.9 m) ( £ 4.7m) ( £ 1.1m) Net Profit ( £ 4.7 m)  £ 1.9 m  £ 27 m  £ 6.4 m The average profit for the four years would be: Average Profit = [ (4.7) + 1.9 + 27 + 6.4] / 4 = 29.6 / 4 =  £ 7.4 m We can compare this with the original investment made in four years: Average investment = [ 38.5 + 24.1 + 24.3 + 24.3] /4 =  £ 28.55 m By comparing, Avg Profit/ Investment= (7.4/28.55) X 100 = 24.91 % Thus the company can decide on whether the investment is good or not. 4.3 Payback This method refers to how quickly the incremental benefits that accrues to a company from an investment project payback the initial capital invested. When faced with a straight accept or reject decision it can provide a rule where projects are accepted if they payback the initial investment outlay within a certain predetermined time. In addition, the payback method can provide a rule when a comparison is required of the relative desirability of several mutually exclusive investments (Lumby, 1988). This method simply measures the time period taken until the profits generated from the investment equal the initial cost of investment. The advantage of Payback is that it focuses on risks in considering the period during which the investment remains outstanding. The drawback is that the method takes no account of cash inflows after payback, neither is there any attempt to consider reinvestment possibilities for incoming funds during the period prior to payback. 4.4 Payback related to M S With relation to MS, we again take the project of investment in property, plant equipment. We take the 2 investments made in 2008 and 2009 and compare them with assumptions made for returns in the following years. 2009 2008 Investment Outflow Year 0 ( £ 540. 8 m) ( £ 958.4 m) Cash Inflows Year 1  £ 58.3 m  £ 91.6 m Year 2  £ 142.6 m  £ 400.4 m Year 3  £ 222.4 m  £ 300.2 m Year 4  £ 100.4 m  £ 286.7 m Year 5  £ 143.7 m  £ 123.2 m Total cash Inflow  £ 667.1 m  £ 1202.1 m Now comparing the two projects of 2008 2009 we can see that payback for 2009 is 5 years and payback for project in 2008 is 4 years. Thus project that MS invested is 2008 is better in terms of investment. 4.5 Net Present Value Net Present Value is the net monetary gain (or loss) from a project, computed by discounting all present and future cash inflows and outflows related to the project. (Gotze, Northcott, Schuster, 2008) Using the NPV method, all future cash flows related to investment project are discounted back to time 0. In order to establish the cash flows arising from a project into their present values, it is necessary to establish the cash inflows and outflows arising from it, and what cost of capital should be used to evaluate such projects. In order to determine the NPV of a project, we need to list all the cashflows related to the project. The net cash flows are then discounted at the cost of capital using the formulae: Discount factor = 1/ (1+i) n where n represents the number of periods and i represents the cost of capital per period The general rule is that if NPV is positive, the project is accepted else it is rejected. 4.6 Net Present Value related to MS We assume the example that taken in the pay back technique for the year 2009 and we assume the cost of capital to be 10 %. Year Net Cash Flows Formula Disc. Factor NPV  £  £ 2009 ( £ 540.8 m) 1  £ 540.8 m 2010  £ 58.3 m 1/(1+.1)1 .909  £ 52.99 m 2011  £ 142.6 m 1/(1+.1)2 .826  £ 117.78 m 2012  £ 222.4 m 1/(1+.1)3 .751  £ 167.02 m 2013  £ 100.4 m 1/(1+.1)4 .683  £ 68.57 m 2014  £ 143.7 m 1/(1+.1)5 .621  £ 89.094 m  £ 126.3 m ( £ 44.35 m) As we can see above the NPV for the project is negative thus this project should be rejected. 4.7 Internal Rate of Return (IRR) Internal Rate of Return of a Project is that cost of capital which makes the net present value of a project equal to zero. If the cost of capital required to reduce the future cash flows to zero is greater than the companys cost of capital, then the project will be accepted because it gives a positive return for the business. 4.8 Internal Rate of Return related to MS In internal rate of return we need to assume cost of capital so that NPV nears 0. Thus we assume the cost of capital as 9% first. Year Net Cash Flows Formula Disc. Factor NPV  £  £ 2009 ( £ 540.8 m) 1  £ 540.8 m 2010  £ 58.3 m 1/(1+.09)1 .917  £ 53.46 m 2011  £ 142.6 m 1/(1+.09)2 .842  £ 120.06 m 2012  £ 222.4 m 1/(1+.09)3 .772  £ 171.69 m 2013  £ 100.4 m 1/(1+.09)4 .708  £ 71.08 m 2014  £ 143.7 m 1/(1+.09)5 .650  £ 93.40 m  £ 126.3 m ( £ 31.10 m) Now we try with cost of capital as 7 % Year Net Cash Flows Formula Disc. Factor NPV  £  £ 2009 ( £ 540.8 m) 1  £ 540.8 m 2010  £ 58.3 m 1/(1+.07)1 .935  £ 54.51 m 2011  £ 142.6 m 1/(1+.07)2 .873  £ 124.48 m 2012  £ 222.4 m 1/(1+.07)3 .816  £ 181.48 m 2013  £ 100.4 m 1/(1+.07)4 .763  £ 76.6 m 2014  £ 143.7 m 1/(1+.07)5 .713  £ 102.45 m  £ 126.3 m ( £ 1.7 m) As we can see that with cost of capital as 9% the NPV is  £ 31.10 m and with cost of capital 7% the NPV is  £ 1.7 m, thus it shows that NPV will be zero between 6 and 7 % cost of capital. As the companys cost of capital is 10 % and the cost of capital to make the NPV zero is between 6 7 %, thus this project cant be accepted as its less than the companys cost of capital.

Prejudice in Not Without Laughter by Langston Hughes Essay -- skin colo

Prejudice is a cancer that spreads hate among its perpetrators and victims alike. In 1930 Langston Hughes penned the novel, Not Without Laughter. This powerful story, written from the perspective of an African-American boy named James â€Å"Sandy† Rodgers, begins in the early 1900’s in the small town of Stanton, Kansas. Through the eyes of young Sandy, we see the devastating impact of racism on his family and those they are close to. We also see how the generations of abuse by whites caused a divide within the black community. Among, and even within, black families there were several social classes that seemed to hinge on seeking equality through gaining the approval of whites. The class someone belonged to was determined by the color of their skin, the type of church one attended, their level of education, and where an individual was able to find work. From an early age it was clear to Sandy that, the lighter a person’s skin was, the higher their social status. As the only young child in his household, he was exposed to many conversations among the adults around him that revolved around race. A primary example of this was one of the conversations between his grandmother, Aunt Hager, and her friend, Sister Whiteside. Sandy and the two elder women sat at the kitchen table together to share a meal while the two women chatted. Sandy sat quietly and absorbed their talk of everything from assuming the white ancestry of a lighter-skinned child they knew, to the difficulty of keeping â€Å"colored chillens in school† (13-15). Sandy not only learned through the conversations of the adults around him the importance of skin color, he witnessed a number of events that cemented the notion. Sandy’s somewhat wild Aunt, Har... ... porters and washwomen†¦Ã¢â‚¬  (188). Throughout Hughes’ Not Without Laughter, we see the long-term effect of generations of prejudice and abuse against blacks. Over time, this prejudice manifested itself through the development of several social classes within the black community. Hughes’, through the eyes of young Sandy, shows us how the color of one’s skin, the church they attend, the level of education an individual attained, and the type of employment someone could find impacted their standing within the community and dictated the social class they belonged to. Tragically, decades of slavery and abuse resulted in a class system within the black community that was not built around seeking happiness or fulfillment but, equality through gaining the approval of whites. Works Cited Hughes, L. (1930). Not Without Laughter. New York, NY, USA: Alfred A. Knopf, Inc.

Evaluation of Mother-Women in Chopin’s The Awakening :: Chopin Awakening

Evaluation of Mother-Women in Chopin’s The Awakening In short, Mrs. Pontellier was not a mother-woman. The mother women seemed to prevail that summer at Grand Isle. It was easy to know them, fluttering about with extended, protecting wings when any harm, real or imaginary, threatened their precious brood. They were women who idolized their children, worshiped their husbands, and esteemed it a holy privilege to efface themselves as individuals and grow wings as ministering angels. (p.29) She was fond of her children in an uneven, impulsive way. She would sometimes gather them passionately to her heart; she would sometimes forget them. The year before they had spent part of the summer with their grandmother Pontellier in Iberville. Feeling secure regarding their happiness and welfare, she did not miss them except with an occasional intense longing. Their absence was a sort of relief, though she did not admit this, even to herself. It seemed to free her of a responsibility which she had blindly assumed and for which Fate had not fitted her. (p. 40) Reading the above two passages it is clear that Mrs. Pontellier feels she is different from other mothers. She is not a "mother-woman". Those maternal beings are "angels" who "flutter" about and protect their children, even if they are in no danger. They are not flesh and blood women with lives of their own. Surely they must have begun life that way, but the passage claims that as they "minister" to their children they "grow wings and become angels. Mrs. Pontellier's use of words such as "minister", "angel" and "worship" must mean that she thinks of motherhood as a religion. While the description of these "mother-women" might imply that they are angelic and selfless, in reality their identity (and existence) depends upon their husband and children. They exist only in a familial context. Without their children they would be nothing. If their children are in no real danger, then the "mother-women" must imagine a threat in order to justify their existence. The use of the word "efface" i s strong and telling. It literally means "to remove the face". The reader gathers that neither Mrs. Pontellier nor Kate Chopin admires this type of woman. In order to be socially acceptable in Kate Chopin's time, one certainly needed a husband to have children. Neither of these passages directly refers to Mr. Pontellier. However, since Mrs. Pontellier is not a "mother-woman", the reader can assume that she does not therefore "worship" her husband.

Fantasy Story Essay -- essays papers

Fantasy Story Deep in the City of Chic, on the plant of Decorous, there was a school named Ennui High School. At this school there was a very interesting girl named Bliss. Bliss had long wavy golden brown hair. She had big blue eyes that were on flawless snowy skin. Her lips were full, and they were always the perfect shade of soft crimson even without lipstick. Bliss just turned 17. She was doing well at school, but she really felt she was ready to get out of her old routine and see what else was out there. One spring Friday morning, Bliss was sitting on the stoop of the apartment building were she lived with her parents. She was looking up at the pink and purple towering buildings around her. They are wonderful, but I’ve been gazing at these buildings for 17 years now, she thought. Just then a big silver cat walked by her. It stopped, turned around, and came up to her. It looked at her intensely for a moment then said, "You will do just fine." After Bliss nearly choked on her tongue, she said, "Do just fine for what?" She had never seen a talking cat before, and she was lost in astonishment. The cat said, "I need some help finding an illusive treasure." Bliss replied, "Oh, and where is this illusive treasure?" The cat answered, "I’m not sure but I know where something is that will tell us where the treasure is. And this thing is about 3 blocks away." Bliss thought about this, and decided three blocks isn’t far. Besides she didn’t really want this talking cat walking out of her life. She said, "OK, lets go. What’s your name?" The silver cat said, "Jest. Follow me." They walked and turned corners for about 15 minutes. Bliss had always thought she knew the part of Chic that she lived in really well. They were only walking for a little bit. How did we get to a place I don’t recognize at all, she thought. She was following Jest into a light pink building. They went up two flights of red stairs, and down a hall. The floors, walls, and ceiling of the hall were royal blue. They came to an emerald door. Jest told Bliss to open it. As Bliss opened it, she was shocked at how white the room was. There was nothing in the room except a magenta wand with a light pink glittery top in the middle of the floor. Jest said, "Pick the wand up and ask it where the treasure is." Bliss did so to humor th... ... was made up of shiny platinum just like the outside. The walls, floors, and high ceilings were made of the enchanting platinum. The furnishings and the decorations were made up of glistering platinum and gold. It was breath takenly beautiful. Bliss and Jest followed the wand up three flights of platinum stairs. They went into a hallway that was entirely gold. Bliss, Jest and the wand went to the end of it. The were in front of a plain, solid, gold wall. The wand told Bliss where to knock on it. When Bliss knocked on it, a flight of platinum stairs that were going down appeared in the wall. They went down the stairs and came to a solid pink ruby door with a platinum doorknob. Bliss opened it. Inside was a room completely filled with diamonds. Each diamond was the size of a fist. They were so shiny and sparklingly. After Bliss got over her astonishment, she got the wand to transfer the diamonds, Jest, and herself to her bedroom in Chic. One year later. Bliss has one of the most successful boutiques in Chic. She travels all over Decorous. She lives in an awesome penthouse with Jest. She is thinking of opening a Club. She is never bored anymore. Fantasy Story Essay -- essays papers Fantasy Story Deep in the City of Chic, on the plant of Decorous, there was a school named Ennui High School. At this school there was a very interesting girl named Bliss. Bliss had long wavy golden brown hair. She had big blue eyes that were on flawless snowy skin. Her lips were full, and they were always the perfect shade of soft crimson even without lipstick. Bliss just turned 17. She was doing well at school, but she really felt she was ready to get out of her old routine and see what else was out there. One spring Friday morning, Bliss was sitting on the stoop of the apartment building were she lived with her parents. She was looking up at the pink and purple towering buildings around her. They are wonderful, but I’ve been gazing at these buildings for 17 years now, she thought. Just then a big silver cat walked by her. It stopped, turned around, and came up to her. It looked at her intensely for a moment then said, "You will do just fine." After Bliss nearly choked on her tongue, she said, "Do just fine for what?" She had never seen a talking cat before, and she was lost in astonishment. The cat said, "I need some help finding an illusive treasure." Bliss replied, "Oh, and where is this illusive treasure?" The cat answered, "I’m not sure but I know where something is that will tell us where the treasure is. And this thing is about 3 blocks away." Bliss thought about this, and decided three blocks isn’t far. Besides she didn’t really want this talking cat walking out of her life. She said, "OK, lets go. What’s your name?" The silver cat said, "Jest. Follow me." They walked and turned corners for about 15 minutes. Bliss had always thought she knew the part of Chic that she lived in really well. They were only walking for a little bit. How did we get to a place I don’t recognize at all, she thought. She was following Jest into a light pink building. They went up two flights of red stairs, and down a hall. The floors, walls, and ceiling of the hall were royal blue. They came to an emerald door. Jest told Bliss to open it. As Bliss opened it, she was shocked at how white the room was. There was nothing in the room except a magenta wand with a light pink glittery top in the middle of the floor. Jest said, "Pick the wand up and ask it where the treasure is." Bliss did so to humor th... ... was made up of shiny platinum just like the outside. The walls, floors, and high ceilings were made of the enchanting platinum. The furnishings and the decorations were made up of glistering platinum and gold. It was breath takenly beautiful. Bliss and Jest followed the wand up three flights of platinum stairs. They went into a hallway that was entirely gold. Bliss, Jest and the wand went to the end of it. The were in front of a plain, solid, gold wall. The wand told Bliss where to knock on it. When Bliss knocked on it, a flight of platinum stairs that were going down appeared in the wall. They went down the stairs and came to a solid pink ruby door with a platinum doorknob. Bliss opened it. Inside was a room completely filled with diamonds. Each diamond was the size of a fist. They were so shiny and sparklingly. After Bliss got over her astonishment, she got the wand to transfer the diamonds, Jest, and herself to her bedroom in Chic. One year later. Bliss has one of the most successful boutiques in Chic. She travels all over Decorous. She lives in an awesome penthouse with Jest. She is thinking of opening a Club. She is never bored anymore.