Low Production and High Unemployment Essay Example | Topics and Well Written Essays - 1000 words

Low Production and High Unemployment - Essay Example A change in either the demand or the supply will cause a similar shift of the other. However, for an economy to experience sustained economic growth and equilibrium, it must step up its factors of production such as labour, capital, and land. Several economic indicators depict the state of an economy and the stage (Frenkel, Razin 29). The Growth Domestic Product (GDP) is a total market value of goods, and services produced and consumed, investments, minus government spending plus the exports minus the imports. A GDP of a country depicts what is happening now in an economy. Rises in the GDP depicting a rise in the economy while a drop in the GDP depicting a recession. In this scenario, country A has a RGDP, which means that its GDP has fallen. Its economy has shrunk, by the amount of the GDP drop. A Second indicator of an economy is the rate of unemployment that describes an economy after it happens. An increase in the rate of unemployment depicts a lagging economy. A country is said to be in a long run economic equilibrium when no firm in the industry wants to leave or enter the market. In this state, no existing firms make losses and those entering the market make losses. Every firm produces at the efficient cost of production and the maximum profit they can make is zero. This means that price is equivalent to average cost of production (Osborne Web). ... In country A, high levels of unemployment depict a recession. Country A is not in an equilibrium state, meaning that it has to undertake some fiscal and monetary policies to take it to this level. A fiscal policy is a tool used by the branches of government via either spending or taxes to attain a desired change. It is an act done with a conscious mind and geared towards effectiveness and efficiency. For country A that is in a recessionary period, imposing taxes will make the situation worse. Therefore, first, country A will have to increase government spending in the areas it deems fit. This king of fiscal policy is called expansionary that increases the government spending and decreases the taxes. This will increase the government budget deficit to increase and lead the country to a long-run equilibrium. According to Keynes, a government can achieve a real GDP every year through market mechanisms where it influences prices and wages, which they assume to be flexible. They believed that in a recessional economy one should not wait for the prices to go down but instead an expansionary fiscal policy can be used. The government should ensure that its spending is higher than the current tax receipts. This way the level of unemployment will fall as the unemployed persons get to work in the government projects increasing their purchasing power. Secondly, the government can engage in purchasing of bonds to release more fund to the corporate and to individuals. As people gain purchasing power, they will invest in various categories of businesses or even purchase goods increasing demand. Price levels will go up, employment levels going up and eventually raise the RGDP. Thirdly, to achieve a long run

Fashion abstracts Essay Example | Topics and Well Written Essays - 500 words - 2

Fashion abstracts - Essay Example The prelude of my exhibition was fostered on the affirmation given â€Å"The whole art of living is mirrored in fashion† (Beaton 1975). Clothing and accessories are vital elements of studying the popular culture and social history of a given people. Based on fashion on can be able to tell to which class or status one hails from, as well as the gender factor is well determined via fashion constitutes, since the female fashion is way different from the male fashion. Furthermore, the clothing and textile museum was established in 1996 to carter for the storage of fashion artifacts to serve as holotypes of the past culture in relation to the present fashion culture of a people. The exhibition done is fostered on inference done on the clothing ages and the artifacts that’s relate to this ages, for instance, on the dress artifacts we found a varied constellation of dress fashions. Notably, the silk dress (branded sleeves) was a fashion icon of late 1830 and 1180. Furthermore, the museum had a collection of various accessories that went hand in hand with the fashion trend of that age, for example the bell bottom was accustom of the 1970s and a flashy checked shirt acted as its accessory. Within the museum the main chronology of historical accounts stated that a large collection of the clothing artifacts were predominantly from the overseas region that at one point was more advanced in terms of fashion ability. Some such as the waistcoat and women’s pocket was a fashion trend from North America. Some artifacts were picked from different nations such as the paper jumpsuit from Turkey, the inclined boots from Texas State †¦..e.t.c In conclusion, I gained a lot of information on the diversity of culture based on the study of different fashions of clothing. However, the main principle learned was that the fashion world had evolved since time in memorial to date. Nonetheless, the present fashion borrows some

HM: Supply Chain and Outsourcing

HM: Supply Chain and Outsourcing A multinational corporation is a term referring to an organization that conducts business operations out of countries other than the home nation. As economic globalization becomes an increasing movement in modern society, it is not abnormal to see a greater frequency of these types of corporations conducting their business with a variety of countries. More specifically, over time, nations of the Global South have experienced a dramatic increase in corporate appeal from the garment producing industry. It is no surprise then, that with cheap labor, access to raw materials and a promise of rapid development, countries in this region have seen a rise in the demand of foreign establishments vying to carry out production here. As a Hennes and Mauritz (HM) employee of three years, I have come to be familiar with their foreign affairs in the Global South, particularly in Bangladesh. Bangladesh is the main region in which HM outsources the production of their merchandise before shipping the majority of these goods to the Western world. It is not uncommon for the company to take many opportunities each year to educate and update their employees of their interactions with Bangladesh. Being presented with one-sided information concerning these interactions, I was made to believe that HMs presence in this country is beneficial for the development of the nation on a global scale. Such things as training programs in the operation of sewing machines with the guarantee of employment at HM are features I understood to be aiding the country in economic sustainability. However, after study on the topic of the effects of globalization and multinational corporations in developing countries, I recognize that there are argu ments claiming global outsourcing in the Global South is a barrier to the possibility of progress in these nations. Through critical analysis of arguments supporting and against HM in Bangladesh, it is evident that the existence of this company in a developing nation does affect the growth of the country. Despite the fact that HM may abide by the labor and environmental policies of Bangladesh, their presence in the country as a foreign transnational corporation hinders the likelihood of economic or political growth and negatively impacts the nations steps towards development. Founded in 1947, Hennes and Mauritz (HM), is a clothing company that originated in Sweden. Today HM operates out of 38 countries, backed with 87,000 employees (HM 2011: ). Alongside having stores across the globe, HM has special relationships with certain countries in which it outsources the majority of its merchandise. One of the essential countries in which HM relies on for the outsourcing of their merchandise is Bangladesh. Bangladesh, considered being one of the Least Developed countries (LDC), has been tremendously influenced by globalization, particularly the restrictions in the apparel industry over the last decades (Uddin 2006: 7). Bangladesh achieved freedom as an independent country in 1971, and after undergoing trade liberalizations in the 1990s, Bangladesh made the switch from an agriculturally dominant economy to that of a market led one (Uddin 2006: 7). When multinational corporations such as HM learn that a country is newly liberalized, it is common for them to step in and offer the country their business, along with reasons why their business will guarantee this country fast development. For Bangladesh, the quotas acted as a guarantee for certain quantities of export sales, helping to establish market presence (Uddin 2006: 7). The concern attached to these types of export sales for Bangladesh, is that the business HM is outsourcing is the most basic among all the aspects that make up this company. HM sources their manual labor to Bangladesh so as to keep new business issues in the mother country. By sourcing non-core business activities a company can focus on its core business in a better way (Alim 2010: 30). By HM outsourcing its production tasks to Bangladesh, Sweden is sending its no-brainer business to a developing country. The business sector in Bangladesh is less likely to achieve development through HMs outsourcing habits because these second hand projects focus on manual labor. Being that the majority of its market based economy deals with manual labor, Bangladesh is deprived of working with new technology which is the norm for capitalist countries. Therefore development in Bangladesh cannot be attained, as the nature of the work force is not advancing. The emergence of American, European, Japanese and Third World multinationals has created a new competitive environment, requiring the globalization or at least semi-globalization of corporate strategy (Alim 2010: 24). HM is among the worlds leading multinational garment retailers, they promise their customers fashion and quality at the best price (HM 2011: ). In order to remain in a position of competitive advantage, some would say corporations of this nature have to maintain a certain reputation concerning all the aspects of business they conduct. In modern society, methods of sustainable production are being favored as the general public is aware of certain on goings in the production of goods such as child labor, and the exploitation of human rights and environmental laws. Companies of this nature than need to take certain precautions to ensure that their business is being conducted in a manner that follows regulations of the outsourcing country, and in a manner that will result i n a satisfied consumer. It is fair to say that the consumer has a significant influence on the way HM conducts their business. Now that awareness regarding the environment is important on a global scale, many consumers first verify that a sustainable company is manufacturing the merchandise they are purchasing. For example, HM has taken initiative in ensuring that the cotton they use in their products is increasingly organic à ¢Ã¢â€š ¬Ã‚ ¦cotton is the raw material we use the most. Although we do not source any raw materials, directly, we are committed to actively contributing to reduce their impacts (HM 2009: 33). This is extremely popular for HM, who stresses the importance of their products being made in an eco friendly environment. Often times, transnational corporations view outsourcing as a win-win situation (in terms of maintaining a good reputation among customers) as they take their production over seas to developing countries that offer cheap production costs, alongside lenient labor and environm ental laws. A unique fact when analyzing the outsourcing habits of HM in Bangladesh is that they do not own any of the factories in which production of HM merchandise takes place. Instead, roughly 700 independent suppliers deliver their products (Alim 2010: 62). This allows HM to maintain a clean reputation amongst other multinational corporations to its customers in terms of abiding by environmental policies and human rights laws. Due to their large purchasing volumes: HM is the second largest buyer in Bangladesh as a single buyer (Alim 2010: 65), HM plays a large role in the economy of Bangladesh. Seeing as the business they bring to the country is mainly exporting primary material, the country needs to produce these goods in volume for cheap. This can lead to neglect of human rights, The claims surfaced as in Bangladesh, violent protests by tens of thousands of garment workers demanding higher pay forced the closure on Tuesday of 700 factories that supply the top names in Western retail, incl uding HM (Fashion Giant HM evades Taxes in Bangladesh: ). Being that HM does not own the factories in which this neglect takes place, they often claim to encourage management of factories to abide by human rights laws. Although, it is hard for one to tell for certain if this is the case. In an industry where the demand for these products continues to rise, it is very difficult for Bangladesh to break a cycle of human rights abuse in order to meet a quota. A history of exploitation of human rights due to the demand by foreign corporate parts in the country is a factor contributing to the lack of development or potential for development in Bangladesh. There are 2 million individuals that make up the workforce of the garment industry of Bangladesh; of this figure, 70% are women (Wulff 2008: 1). HM takes time to inform their employees of employment opportunities they provide for those in developing countries. They are particularly proud of the work-training program implemented for those who show interest in making clothes in Bangladesh. HM trains prospective factory employees in operating sewing machines with the promise of guaranteed work after successful completion of the program. Though there are obvious benefits to the idea of providing jobs for people of Bangladesh (especially women), the work-training program HM has put into practice has long-term negative effects on the development of the country. An evident gain of the program being that women are provided an opportunity to work and help support their families, has the negative side effect of women continuing to be perceived as a domestic figure sewing clothes while men man age the factories. Aside from a gender bias that will be hard to break as the popularity of this program grows, there is also the issue of young adults not continuing in a higher education. A direct correlation can be seen with respect to the number of people working in a factory, and the number of people in that factory who have received a higher degree of education. Of the amount of individuals producing clothes in a given factory in Bangladesh, the majority has achieved no more than a high school diploma (Uddin 2006: 72). With less of the population attaining a hire education, difficulty in developing an interdependent economy arises due to the dependence on entry-level positions created by HMs work-training program. One of the reasons why outsourcing in Bangladesh is extremely popular for HM, a company that stresses the importance of their clothes being made in an eco friendly environment, is a result of the leniency of labor and environmental laws. Important for consumers to be reminded, is that policies protecting the environment in the Western world are generally much more strict than those protecting the environment in the Global South. Multinational corporations are often the reason why environmental laws in developing countries are so lenient. Governments and authorities in these countries generally feel pressured to comply with the influences of the business needs of transnational corporations. According to the BGMEA (Bangladesh Garment Manufacturers and Exporters Association) officials, the social responsibility initiatives of BGMEA directly responded to the concerns of multinational buying companies the group they believed constituted the most powerful stakeholder group. The BGMEA exec utives made specific reference to the expectations of, and pressures exerted by, buying companies such as Nike and HMà ¢Ã¢â€š ¬Ã‚ ¦ (Azizul 2009: 108). These pressures felt display a direct relationship with the development of a country. When the government which is supposedly the highest authority in a given region, is pressured to act a certain way by a foreign investor, the country ceases to develop in an independent manner, as there is a dependence on the business this investor provides. The extent of Bangladeshs dependence on multinational clothing companies such as HM is seen in the fact that around 4,500 garment factories accounted for roughly 80% of the countrys 16-billion-dollar export income in 2009 (Anger after deadly HM factory fire: ). In the process of outsourcing the production of their merchandise, HM often demands the usage of raw materials that need to be sourced from various countries. It is interesting though, that they leave the chore of purchasing these materials to the production factories in Bangladesh. à ¢Ã¢â€š ¬Ã‚ ¦most of the time, suppliers import the raw materials from abroad due to unavailability in the local market. In some cases, HM nominates the raw materials supplier. In that situation, suppliers purchase the raw materials from those nominated sources, whether they are local or foreign (Alim 2010: 72-73). HMs Sustainability Report from 2009 states that transporting raw materials from a country outside Bangladesh can take up to 44 days to arrive, causing potential delays in the production of merchandise (Alim 2010: 73). Importing materials from nations outside of Bangladesh for the production of goods presents a conflict in terms of development. Firstly being that Bangladesh produces merchandi se under the condition of cheap labor, expenses of importing materials from other countries can damage their overall profit rate. More importantly however, is that by sourcing raw materials from places outside of Bangladesh, domestic businesses suffer when trying to compete against more powerful foreign corporations. Through this cycle, foreign transnational corporations shape the economy of Bangladesh. Through investigation on the subject of the impact of globalization and the presence of transnational corporations in the Global South, strong arguments declare that global outsourcing in these regions is a barrier to the possibility of development. As an employee of a multinational corporation, I have considered its relationship to Bangladesh through two perspectives. Firstly, the relationship presented to me through HMs viewpoint; being that their presence in Bangladesh allows for them to outsource quality merchandise for cheap labor costs while increasing capital of the export sector and creating jobs. As well I have analyzed a more negative stance on the issue of HM in Bangladesh. This being that HM is hindering the possibility for development in Bangladesh through creating dependence and pressuring the government. Both perspectives have in common the argument that HM in Bangladesh acts as a major influence on the development of the country. Although HM follows the labor and envi ronmental policies in Bangladesh, the companys existence in the country is enough to decrease the likelihood of both economic and political growth while negatively affecting the nations ability to develop.

Exxon and Mobil Essay -- essays research papers

Exxon and Mobil Exxon and Mobil were two big competitors in the oil industry. In the 20th century, Exxon and Mobil operated with relatively low-price, and in low-margin environments. The market in the United States and Europe have grown and matured, allowing them both to grow with great success. The competitiveness has tightened worldwide in the crude oil business. Both companies have continued to advance new technologies, introducing new marketing innovations. They have extend there reach into high-growth markets. The two companies became more efficient, reduced costs, and increased shareholder’s value by there merge.   Ã‚  Ã‚  Ã‚  Ã‚  Since the merge Exxon Mobil Corporation has grown to be a national giant and major player in the US economy. Their stock in the past six years has nearly doubled from $37.50 and the beginning of the merge. Their business is one that is on the leading edge of technology from there sky-scraper sized drilling platforms to there catalysts that help to produce thousands of consumer products. They produce high performing fuels and lubricants with zero emissions. Their downstream activities are refining and supply of petroleum products. Also Exxon Mobil’s chemical is a global marketer of ole fins, aromatics, fluids, synthetic rubber, polyethylene, polypropylene, oriented polypropylene packing films, plasticizers. Over the years, the Exxon Mobil Corporation have repeatedly earned the ranking of a top-rated Fortune 500 company by flawl...

Hispanic Culture

Since 1970, United States of America has seen a considerable amount of immigration because of economic chaos and civil wars in Latin American countries. The fight between the government of El Salvador and leftist guerrillas in 1980 brought about 500,000 immigrants to United States. They settled primarily in California, Florida, Massachusetts, and Washington, D. C. The civil war in Nicaragua in the year 1980 drove an estimated 800,000 Nicaraguan immigrants to the United States Mexican Americans are the most prevalent Hispanic group within the United States. Their history can be dated to four centuries within America, contrasting in different regions. In States like California, Texas, New Mexico, Arizona, and Nevada have great amounts of Mexican Americans. (Mexican Americans, 2007). Most of Mexican Americans residing in the United states converse in their own native language. Spanish is usually the solitary language that they use . But english is the universally unrestricted language in the general community. As many generations have passed, a new verbal communication has emerged, called Spanglish, which is a blend of both Spanish and American. America has always been harsh on Mexican Americans. Mexican Americans had a hard time elevating their financial and social status in this country, as they were judged by the color of their skin. The Chicano Movement changed the lives of Mexican Americans’ in the United States. This movement secured these people in the economy with civil rights and economic opportunity. Significant number of Mexican Americans are Roman Catholic. Their religious beliefs influence their perceptions on various aspects of their life, including view on sex, education, and politics. Puerto Ricans are the second largest groups of Hispanics . they reside in large numbers in New Jersey and New York. Puerto Ricans are not considered foreign immigrants, since they are technically American citizens (Puerto Rican, 2008). Puerto Ricans do not have a â€Å"proper language†. They use Castilian Spanish. They differ from other Spanish-speaking groups in the way the pronounce. These people are generally racially and ethnically diverse, and recognize racial variance amongst themselves. They generally call themselves as â€Å"Negro†. Most Puerto Ricans are eligible for benefits in America, since Puerto Rico is a United States commonwealth. But many feel that as they are eligible for benefits in welfare programs, it keeps them within a cycle of poverty. The general population that is not benefited tend to work in the industries around New York and New Jersey. Puerto Ricans are generally Roman Catholic. However, in recent years, it is reported that only 70% of the people consider themselves Catholic, while the majority of the remaining group consider themselves as Protestant. Traditionally, fathers and husbands are seen as the head of the households. Sons take the responsibility of taking care of the â€Å"womenfolk†, specially their younger sisters. They generally have extended families. Cuban Americans are the third largest group of Hispanics within the United States. Most of the Cuban Americans were originally born in Cuba, but moved to United states as a result of Fidel Castro’s communist dictatorship (Cuban Americans, 2008). The older generations of the society continue to carry on their prominent language of Cuban, but it is the younger generations who have started to choose a different path. The new generation prefers to communicate in English than Cuban. Large communities of Cuban Americans can be found in New York City, northern New Jersey, Los Angeles and southern Florida. Most Cuban Americans are successful in these communities, because they back others who share their cultural backgrounds. The new generation are redefining themselves as the older generations are passing away; some seeking identify from their culture, while many others distance themselves from their ethnicity backgrounds. It has been found that out of every 14 Cuban Americans in Southern Florida having entrepreneurial business these people have the highest entrepreneurial rate among all other Hispanic groups. Many Cuban Americans live in little communities of Cuban descent. So they don’t feel the necessity to go out of their community. Thus, a higher rate of business ownership exists. Cuban Americans had a vigorous role in redefining the American Political scene. Most of the Cubans are against Fidel Castro’s Communist government. So any movements or policies that are against his government are supported highly amongst the Cuban American communities. Also any Cuban-related policies within the legislation of the United States are significantly influenced by Cuban Americans (Roots of, 2008). Most of the Cubans are generally Roman Catholics; however this trend has been greatly modified to â€Å"syncretism† by a huge amount of support since Catholicism’s early introduction into Cuban’s history. Most of the Cuban Americans often have extended families, including parents and children, and older relatives (those who are widowed or dependent on others). The chances of intermarriage with individuals out of their ethnicity and culture are very low, as this is against their family value. Dominican Americans form a newer national community in America. They are still in the process of creating a unique atmosphere and place for themselves amongst both the American culture and Hispanic groups (Dominican American, 2008). The official language of Dominican Americans is Spanish. But English is also popularly spoken, and even a French dialect is sometimes heard amongst the Dominican American culture. Most of the Dominicans that come to America face language barriers, alongside with poverty as a major concern. Now a days many Dominican Americans have moved up from a previous immigrant status to a conventional status amongst a common American society. Within the last past few years, the economic status of Dominican Americans has begun to diversify itself, as racial acceptance has become more acceptable. This diversification is amongst different groups of Africans, Hispanics, and American Indians within the Dominican culture. There are no Dominican member in The U. S. House of Representatives although they do exist within the political scene as council members. Dominican Americans have been elected as officials in some other states as well (Buffington, 2008). Most of the Dominican American are Roman Catholics ( a leading statistical amount of 90%). Nonetheless, a small group of Protestants also exist within their communities and culture. But even smaller than this, a small percentag e of African religious beliefs too exist within the society. Cuban Americans in the New York area constitute as much as seven percent of the total population (Schaefer, 2006). Dominican Americans have been making serious steps to the development of their community, and at the same time are increasing their knowledge base so as to be recognized as an important cultural group. The new generations of Dominican Americans are as Dominicans as they are Americans, speaking both languages, English and Spanish. Dominicans have succeeded and have made rapid achievements in all fields of life. (Dr1. com. Dominican Americans). The terms Hispanic or Latino are used to describe people who come from a variety of different countries and cultural settings. These names are given to different ethnic groups when they come to the United States. The four major Hispanic groups – Mexican, Puerto Rican, Cuban, and Dominican Americans have their own separate identity. There are also many similarities that connects them in linguistic, cultural, political, economic, and familial categories. The Spanish language helps to combine them together, though there are some differences in dialect. Roman Catholicism is the major religion followed, but each group also practices Protestantism and other Christian denominations. Puerto Ricans are considered legal citizens of the United States of America. The Mexican Americans and others are still working on to get a legal status. Hispanics in the United States have contributed significantly to its society’s customs and culture for many centuries. These contributions range from politics, public service, military, business, science, organized sports to even the entertainment industry. Their impact on the society can be understood only if we take a closer look. It is quite surprising as many historians have not acknowledged Hispanics’ impact on history, as they are just as intricate within America’s history as any other race or nationality (Contributions of,2008) References Cuban Americans (2008). Wiki. Retrieved January 14, 2009 from http://en.wikipedia.org/wiki/Cuban_American Mexican Americans (2008). Wiki. Retrieved January 14, 2009 from http://en.wikipedia.org/wiki/Mexican-Americans Puerto Ricans (2008). Wiki. Retrieved January 14, 2009 from http://en.wikipedia.org/wiki/Puerto_Rican Americans of Hispanic Heritage Web site: http://www.neta.com/~1stbooks/dod2.htm (2008) Cuban Americans. Retrieved June 23, 2008, from MSN Encarta Web site: Buffington, S. (2008) Dominican Americans. Retrieved June 23, 2008, from Every Culture Web site: http://www.everyculture.com/multi/Bu-Dr/Dominican-Americans.html Hispanic Culture Eemah Pizza Mrs. Katherine Miracle Introduction to Public Speaking 18 February 2013 Outline for Speech The Hispanic Culture influencing The American Culture Specific Purpose: I want my audience to have a better knowledge of The Hispanic Culture; how it differs from The American Culture and influences it as well. Thesis: While Hispanics may not seem important to society, Americans should learn about their culture. Introduction Attention Getting Device: * â€Å"Strangers in a new culture see only what they know. † -Unknown Credibility:I came here when I was seven years old and all I really knew about the United States was that everyone is a â€Å"gringo/a† (white boy/girl). Americans are only white, with blonde hair and blue eyes. Those thoughts took a U-turn when I arrived at JFK Airport in New York City, New York. Then I thought to myself as well if they had a stereotype for Hispanics. Eventually, I did encounter stereotypes, consisting of: â€Å"You’re Mexican; you eat tacos; you’re illegal. † * Thesis: Even though Hispanics may not seem important, Americans should learn about the Hispanic culture. Preview: The Hispanic culture influences the American culture in many ways. The largest minority in the United Stated is made up of Hispanics. And being able to speak Spanish fluently opens many doors and helps a person understand the culture better. Body I. Americans learning about the main concerns in the Hispanic Culture A. From a young age, Hispanic kids are taught good manners, respect, and that family is the foundation of everything. Family is the number one priority in the Hispanic culture. 1. According to Ohioline. osu. edu† Traditionally, the Hispanic family is a close-knit group and the most important social unit.The term familia usually goes beyond the nuclear family. The Hispanic â€Å"family unit† includes not only parents and children but also extended family. In most Hispanic families, the father is the head of the family, and the mother is responsible for the home. Individuals within a family have a moral responsibility to aid other members of the family experiencing financial problems, unemployment, poor health conditions, and other life issues. â€Å" 2. Hispanics are very dependent on Family and spending time together is a major factor. a.If a Hispanic person travels, or moves to another city/town and they have family members that live there as well, it is very common for that person to stay there with that family and/or live with them. b. Spending time together, which is very often, is a valuable part of a Hispanic family (birthday, holidays, graduations, weddings, etc†¦). [Transition: Hispanics want what’s best for their family even if it means migrating to another country and becoming the largest minority for that country. Spanish, Hispanics native language, has become a worldwide known language. In my second main point, this will be explained in further detail. II. Hispanics are the largest minority in U. S. and being able to speak Spanish fluently opens many doors for people. A. According to the University of Illinois. â€Å"Spanish is spoken by more than 500 million people worldwide; half of the population in the western hemisphere speaks Spanish† 1. The United States has shown over the past 30 years a huge growth in the Hispanic population; U. S. population is made up of 11% of Hispanics and it has become the largest minority in the U. S. a. According to the U. S. Census, the number of Hispanics in the U. S. grew by 57. 9% between 1990 and 2000. b.California, Texas, New York, and Florida are the states that have a high percentage of Hispanics. c. 28 million people in The United States speak Spanish. d. 31 million individuals are identified as Hispanics. [Transition: As more Hispanics come to The United States, the impact they have in the culture is seen through all types of media. That is why it’s important to know how Th e Hispanic Culture influences The American Culture. III. The most important reason why Americans should learn about The Hispanic culture is because The Hispanic culture influences The American culture. 1. The Hispanic population has grown rapidly in the 21st century.This means that Hispanics have influenced The American Culture throughout their presence in The United States. How? From politics to business, art, music, film, and FOOD! a. In the 2012 Presidential Election, President Barack Obama had the votes of 71% of Hispanics, according to pewhispanics. org. b. You ask â€Å"who is Lupe De Los Santos? † Group Manger, The Clorox Company; Helped create the shows: â€Å"The Biggest Loser† & â€Å"Dale Con Ganas† c. Two other areas that Hispanics have succeeded are through films and music. Jennifer Lopez, Pitbull, Enrique Iglesias, and Selena have all added a unique flavor to the music industry.In the film industry there are more Hispanic actors/actresses for examp le America Ferrera, Antonio Banderas, Salma Hayek, Zoe Saldana and George Lopez. d. Food is vital to a Hispanic family. It’s what brings everyone together after a long day of school, work, etc†¦ Home cooked warm delicious meals that are made out of love and touch the soul. Now in the American culture, people see more Mexican restaurants, more Hispanic spices, etc†¦ According to DonQuijote. org â€Å"In the business world, the businesses whose owners are Latin Americans have been growing three times faster than others, generating 2 billion dollars a year.Some of these companies include: Latinvox, Ron Bacardi, Goya Foods, Tampico Beverages Inc. or Univision Radio. † As you can see, there is a lot to learn about the Hispanic culture. There are a lot of influences that both cultures have on each other. But most importantly, Hispanics are the second largest minority group in the United States and speaking fluent Spanish will open many doors for a lot of people. Le arning the language makes it easier to understand the beautiful culture. * â€Å"We could learn a lot from crayons. Some are sharp, some are pretty, some are dull, some have weird names, and all are different colors.But, they all fit nicely into the same box. † -Unknown Work Cited Hispanic Americans: The Second Generation. N. d. Web. . â€Å"Latin American Influence in the USA. † DonQuijote. N. p. , n. d. Web. 18 Feb. 2013. â€Å"Ohio State University Fact Sheet. † Understanding the Hispanic Culture, HYG-5237-00. N. p. , n. d. Web. 18 Feb. 2013. . Wadham, Tim. â€Å"A TASTE OF Latino Culture. † School Library Journal 3p 58. 9 (2012): 55-56. Print.

Civil Disobedience Essay

Based on the writings of Henry David Thoreau it is very relevant that he is very opposed to government involvement of any kind. He doesn’t believe that the government should be involved in everyday life. Thoreau doesn’t understand the point of having a government system that will be useful to everyone and not just a select few. Thoreau proceeds to explain his many reasons as to why the â€Å"government is best [when it] governs [the] least.† He thought people should stand up to the very ones that made society so corrupt and weak. Thoreau believes the government puts personal selfish interests on a pedestal. Thoreau’s opening statement set the tone for his entire essay. He begins his essay by saying that the government, so far, has rarely proven to be useful. He believes that the power the government has derived from the majority rather than the few. This is mainly because the majority is the strongest group not because their viewpoint is right but because they have many in numbers. He then continues to express the fact that many people do what they believe is right and not to just follow the law created by the majority. He insists that people should do away with the law all together when the legal system becomes unjust. Thoreau then states that the United States is a perfect example of an unjust government. He believes that is because of the fact that they have shown support of slavery and they have participated in the practice of aggressive war. In regards to a man following his first obligation, Thoreau believes that a man isn’t obligated to get rid of the evils of the world, but he is obligated not to take part in these evils. This means that no man should feel the need to participate in an unruly government if he does not choose to do so. Thoreau asks, â€Å"Must the citizen ever for a moment, or in the least degree, resign his conscience to the legislator? Why has every man a conscience, then? I think we should be men first, and subjects afterward.† He is basically stating that it is far more important to develop respect for what is right, rather than a respect for law. Thoreau sets a very powerful and aggressive tone by choosing to open his essay this way. Thoreau doesn’t see the effectiveness of reform within the US government. Thus, he wants his readers to feel the same way. He then says that he is convinced that petitioning and voting for change achieves very little. Thoreau uses a wide variety of examples, some personal, that depict the unjust system that he discusses. By using his own personal experiences, he is allowing the reader to fully understand everything he is trying to depict. He speaks on the fact that during a protest against slavery, he refused to pay the taxes that were issued to him. Because of his refusal to pay the taxes, he spent the night in jail. But, overall his thoughts and opinions dissociated him from the government because he chose not to participate in its institutions. He then states that one can’t see the government for what it really is because one is still working within it. And, in this way they believe that everything is justified because they are a part of the strong majority. He feels that having too much respect for law causes people to do wild things. For example, he believes that the government has turned soldiers into machines for their own personal use making them a shadow of what is real. Thoreau is very passionate and honest about everything that he says. He wants the reader to know exactly where in his heart these words are coming from. He never uses a harsh syntax or diction when writing because he doesn’t want to sound angry. Throughout his essay, Thoreau uses an intense appeal to pathos. He mostly uses pathos when he describes a conversation with his cell mate. Thoreau asks his fellow prisoner what he got put in jail for and the man replied saying, â€Å"they accuse me of burning a barn; but I never done it.† Thoreau does this to appeal to the emotion of his readers by showing them that what the government does isn’t fair. He also shows this when he says that he has been waiting 3 months for his trial, and he will probably have to wait another 3 months before he actually gets his trial. Thoreau describes the conversation to paint a picture in the minds of his readers, of an innocent man that had to wait a half a year to attempt to prove innocence. The fact that this innocent man was spending his waiting time in jail, draws a lot of sympathy from his readers. Thoreau also uses a great deal of imagery in this essay. When describing his  jail cell, he used â€Å"the rooms were white†¦washed once a month†¦Ã¢â‚¬  He was doing this to show his audience that his punishment really wasn’t as bad as most people thought it would be. Thoreau even said that he viewed his cell almost as if it were an apartment, and the jail house, a city. This supports his idea that jail technically isn’t a punishment for those in it. Thoreau, here, is trying to persuade the readers to stand together and revolt against the government because it is their duty to do so. He then goes on to say that neither him, nor his cell mate pose any real threat to society. This makes the reader question his place in jail. If he really wasn’t a threat, then why was he locked up? Thoreau is very opinionated about his very broad views of the government. He believes that the government has only lasted this long because people refuse to execute their own will. And, until this happens, no changes will ever be made. Thoreau wishes for a society in which man makes decisions of his own mind and not the mind of those that are trying to suppress the truth. In some aspects Thoreau is right. Some current laws are not honorable. Overall, Thoreau just wants to conform to the laws set in place, but he feels that that phenomenon won’t happen. In his essay, Thoreau makes it very clear of his idea that â€Å"government is best [when it] governs [the] least.† He uses many rhetorical strategies such as imagery, symbolism and pathos as an effort to persuade the readers that the best kind of government is one of laissez-faire. His main ideas were present in his writing. He wanted to show people that a hands-off government is not the best thing for everyone. Because if he was thrown in jail for one night due to the fact he didn’t pay poll tax for six years, then why don’t people step up and revolt against the government? He wanted the reader to feel empowered by his words so that there could truly be a change in government policies.

The Sociology of Gender

The Sociology of Gender The sociology of gender is one of the largest subfields within sociology  and features theory and research that critically interrogates the social construction of gender, how gender interacts with other social forces in society, and how gender relates to social structure overall. Sociologists within this subfield study a wide range of topics with a variety of research methods, including things like identity, social interaction, power and oppression, and the interaction of gender with other things like race, class, culture, religion, and sexuality, among others. The Difference Between Sex and Gender To understand the sociology of gender one must first understand how sociologists define gender and sex. Though male/female and man/woman are often conflated in the English language, they actually refer to two very different things: sex and gender. The former, sex, is understood by sociologists to be a biological categorization based on reproductive organs. Most people fall into the categories of male and female, however, some people are born with sex organs that do not clearly fit either category, and they are known as intersex. Either way, sex is a biological classification based on body parts. Gender, on the other hand, is a  social  classification based on ones identity, presentation of self, behavior, and interaction with others. Sociologists view gender as learned behavior and a culturally produced identity, and as such, it is a social category. The Social Construction of Gender That gender is a social construct becomes especially apparent when one compares how men and women behave across different cultures, and how in some cultures and societies, other genders exist too. In Western industrialized nations like the U.S., people tend to think of masculinity and femininity in dichotomous terms, viewing men and women as distinctly different and opposites. Other cultures, however, challenge this assumption and have less distinct views of masculinity and femininity. For example, historically there was a category of people in the Navajo culture called berdaches, who were anatomically normal men but who were defined as a third gender considered to fall between male and female. Berdaches married other ordinary men (not Berdaches), although neither was considered homosexual, as they would be in today’s Western culture. What this suggests is that we learn gender through the process of socialization. For many people, this process begins before they are even born, with parents selecting gendered names on the basis of the sex of a fetus, and by decorating the incoming babys room and selecting its toys and clothes in color-coded and gendered ways that reflect cultural expectations and stereotypes. Then, from infancy on, we are socialized by family, educators, religious leaders, peer groups, and the wider community, who teach us what is expected from us in terms of appearance and behavior based on whether they code us as a boy or a girl. Media and popular culture play important roles in teaching us gender too. One result of gender socialization is the formation of gender identity, which is one’s definition of oneself as a man or woman. Gender identity shapes how we think about others and ourselves and also influences our behaviors. For example, gender differences exist in the likelihood of drug and alcohol abuse, violent behavior, depression, and aggressive driving. Gender identity also has an especially strong effect on how we dress and present ourselves, and what we want our bodies to look like, as measured by normative standards. Major Sociological Theories of Gender Each major sociological framework has its own views and theories regarding gender and how it relates to other aspects of society. During the mid-twentieth century, functionalist theorists argued that men filled instrumental roles in society while women filled  expressive roles, which worked to the benefit of society. They viewed a gendered division of labor as important and necessary for the smooth functioning of a modern society. Further, this perspective suggests that our socialization into prescribed roles drives gender inequality by encouraging men and women to make different choices about family and work. For example, these theorists see wage inequalities as the result of choices women make, assuming they choose family roles that compete with their work roles, which renders them less valuable employees from the managerial standpoint. However, most sociologists now view this functionalist approach as outdated and sexist, and there is now plenty of scientific evidence to suggest that the wage gap is influenced by deeply ingrained gender biases rather than by choices men and women make about family-work balance. A popular and contemporary approach within the sociology of gender is influenced by symbolic interactionist  theory, which focuses on the micro-level everyday interactions that produce and challenge gender as we know it. Sociologists West and Zimmerman popularized this approach with their 1987 article on doing gender, which illustrated how gender is something that is produced through interaction between people, and as such is an interactional accomplishment. This approach highlights the instability and fluidity of gender and recognizes that since it is produced by people through interaction, it is fundamentally changeable. Within the sociology of gender, those inspired by conflict theory focus on how gender and assumptions and biases about gender differences lead to the empowerment of men, oppression of women, and the structural inequality of women relative to men. These sociologists see gendered power dynamics as built into the social structure, and thus manifested throughout all aspects of a patriarchal society. For example, from this viewpoint, wage inequalities that exist between men and women result from men’s historic power to devalue women’s work and benefit as a group from the services that women’s labor provides. Feminist theorists,  building on aspects of the three areas of theory described above, focus on the structural forces, values, world views, norms, and everyday behaviors that create inequality and injustice on the basis of gender. Importantly, they also focus on how these social forces can be changed to create a just and equal society in which no one is penalized for their gender. Updated by Nicki Lisa Cole, Ph.D.

101 Responding and Structure Professor Ramos Blog

101 Responding and Structure Quick Write Quick Write In academia we use the word argument when referring to writing. What do you think we mean by argument? What is the difference between an argument and a fight? Responding Chapter four details the three major forms of response: agree, disagree, and agree but with a difference. You can argue anything. Remember, not everything has to be an argument.  For this class, we will focus on responding to arguments/conversations. Responding Templates The book includes many templates. Including to  Disagree p. 60,  Agreeing p. 62, and  Agreeing and Disagreeing Simultaneously p. 64. Write a response using the templates to one of the articles we have read. You have to write three responses, One agreeing, one disagreeing, and one both agreeing and disagreeing simultaneously. Why did we do this exercise? Show, Don’t Tell The writing you do at this level should do the work, instead of you having to tell us. No more lines like: In this essay†¦ My narrative is about†¦ Building Structure Focus on events in your story. What events help you to tell your story? First Event Next Event Next Event Final Event Do tell us what you went through. Show us what happened. Place us there with you. Four Frames You have four frames to tell us the story. What scenes will you include? What details will you want to draw into each scene? Details are important when telling a story. It helps your readers see what it is you are telling them. Why Diversity Matters Why Diversity Matters

Art of Privacy Portrayed by David Bourne

Art of Privacy Portrayed by David Bourne In The Garden of Eden, David Bourne retreats into his writing to escape the complications of his life, complications located predominantly in the actions and moods of his young wife, Catherine. He keeps a space all his own in which he writes; a daily regimen regulates his work practices. He muses, â€Å"If you cannot respect the way you handle your life then certainly respect your trade. You know about your trade at least† (148). There is comfort in having something all his own that he understands well and can control. Yet Catherine attempts at every turn to undermine this one thing that he has, to cheapen it or appropriate it for herself. Marita, however, is appreciative and respectful of Davids work; she is not jealous of or threatened by his talent. With Marita he no longer must guard himself against incessant insecurity and jealousy; he willingly shares with her the ordered, insular world of his writing and makes himself vulnerable in a new way. His understanding of people and how best to interact with others in the world is altered, if only temporarily, and he is able to tap into a part of his writing previously unknown to him. In Africa, David learned to â€Å"never tell anyone anything† (181). One cannot trust others with anything, because people are apt to use anything given them to pursue only those ends personally beneficial, often destroying something meaningful or beautiful in the process. Thus, at the novels open, David is guarded; he is not free with the world he has established for himself where nothing exists saves those landscapes and characters he creates. Through writing, he achieves pure agency; he lets no one into this world, even peripherally. â€Å". . . [David] wrote from an inner core which could not be split nor even marked nor scratched† (183): because it is exclusively his own, no person is able to corrupt or destroy his writing. His art is the logical outgrowth of his philosophy. David desires total autonomy and he has found it in literature. Catherine is threatened by this part of David that she cannot touch. David is hers – and she has no one else, no friends, no family – and thus she must transform him totally as proof of this, to exercise her agency. She manipulates David into changing his appearance; she changes their sexual dynamic. She and David are â€Å"against all the others,† she says (37), and thus they must be together and equal in all things, or at least (contradictorily) be together and equal in the way she envisions. Davids reviews of his newest book, his â€Å"clippings†, infuriate her. She berates David for keeping them and reading them, as if he were obsessive. The clippings are something of which she is not a part; they are uniquely Davids, a part of his work. She approves of the â€Å"narrative† that he is writing, an account of their time together in Europe, because she sees it as a monument to herself. She fears that when she dies, all that she has done and felt wi ll fall away: â€Å". . . I dont want to die and it be gone† (53). Davids narrative is the solution. She gradually tries to appropriate the narrative for herself, making plans for it, and in her final letter to David actually referring to it as â€Å"my book† (237). Catherine despises his short stories inspired by the African experiences of his youth. Not only are they writings which he does not want her to read or engage with in any way, but they are very nearly autobiographical and therefore immediately personal to David, something which, of course, Catherine cannot tolerate. She says, â€Å". . . [T]he stories are just your way of escaping your duty† (190), his duty, apparently, to her and to documenting their life and experiences. Ultimately, she burns his stories and his clippings to illustrate this and to refocus his work back on the narrative. Catherine wants to take from David everything that is exclusively his – clippings, writing, individual identity, manhood – and she nearly succeeds. Marita is at first another complication brought on by Catherine. David finds her beautiful, but is averse to her presence in their small hotel, thinking it will further wrench he and Catherine apart; â€Å"The hell with her,† David says several times. He wishes Catherine would take her away. However, as Catherine drifts deeper into herself than ever before and becomes more eccentric and moody, David grows closer to Marita, realizing, eventually, his love for her: â€Å"Christ, it was good to finish [the second Africa story] today and have her there. Marita there with no damned jealousy of the work and have her know what you were reaching for and how far you went. She really knows and its not faked. I do love her . . .† (204) Marita adores his Africa stories and expresses properly complex feelings about them, where Catherines reaction is simply disgust – a feeling that is truly a disguise for her jealousy and annoyance that David chose to work on these stories rather than the narrative. Marita is secure in herself and kind, and David senses this. Unlike Catherine, she does not wish to â€Å"destroy† David or the products of his artistry, she admires his talent and wishes for it whatever David wishes. Her affection for Davids Africa stories and relative disinterest in the narrative makes her the metaphorical opposite of Catherine: she sees an especial kind of veracity and power in the Africa short stories, those deeply personal to David. His control over this literary world is not a site of contention, but of appreciation. His control breeds high caliber work, and thus it is worthy of respect. Catherine is too selfish and single minded to see this, or at least to express it; the fact that the stories are at a remove from her is sufficient for her to discount them as evidence of Davids betrayal. Davids time with Catherine only affirms his ideas about not telling anyone anything. Belief in innate human selfishness is at the core of such a philosophy, or rather, fear that human selfishness will lead to the ruin of something important. Indeed, in Davids case, Catherines selfishness and inability to accept his autonomy over one aspect of his life results in the destruction of two of his best stories, the product of weeks – months – of work. However, Marita and Davids flowering relationship calls this philosophy into question. Catherines leaving allows for David and Maritas romance to begin to become fully realized. Her sweetness is in direct contrast to Catherines cruelty. She comforts him and feels the pain of the loss of his stories the same as he does. In a crucial moment after finishing his second Africa short story, he sits and reads with Marita as she reads: â€Å"He had never done this before and it was against everything he believed about writing . . . . He could not help wanting to read it with her and he could not help sharing what he had never shared and what he had believed could not and should not be shared.† (203) He willingly shares with Marita the part of himself that he had for so long kept most carefully guarded: his writing. It is a symbolic affirmation of the difference between his relationship with Marita as compared to his relationship with Catherine, one in which he could never be fully who he was. With Marita, he can â€Å"tell† things, he can reveal himself intimately without fear of being used. David says to Marita after Catherine burns his stories that â€Å"[w]hen its once right you never can do it again. You only do it once for each thing† (230); he cannot rewrite what he has lost. And while this may have been true before, in the final paragraphs of the novel, David gets back his stories, every sentence intact. Opening himself up to Marita, exposing the part of him most sacred, caused a change, one that David recognized when it occurred, but forgot. Marita asks on their way out of the hotel after the two read the story together, â€Å"Do you think were really lucky?† David responds, â€Å"Yes . . . I think it changed this morning or maybe in the night† (205), and thus ends Book 3 of The Garden of Eden. This change, this opening up of himself, paved the way for something new. His luck had changed, and he says at the very end of Chapter 28, the third to last chapter, that when writing one must gamble. â€Å"So gamble,† he says (238). He does gam ble and he wins, his luck having changed; he regains what he had lost, without any â€Å"sign that any of it would ever cease returning to him intact† (247). His emancipation from Catherine – the troubled woman whom he still worries for – and his opening up to Marita allowed for the recovery of his prized stories. The novel concludes with David triumphing, yet there is an undercurrent of troubling ambiguity. The Garden of Edens final line echoes the final line of â€Å"Indian Camp†: â€Å"In the early morning on the lake sitting in the stern of the boat with his father rowing, [Nick] felt quite sure that he would never die† (95,The Short Stories). There is a romantic optimism in both, in Davids case, a kind of pre-lapsarian confidence. Marita in the final pages speaks as did Catherine once, saying, â€Å"Im your girl . . . no matter what Im always your girl† (245). He writes his and Maritas name in the sand as an officiation of their marriage, peculiarly as sand is the most ephemeral of writing materials. Do these instances portentously suggest that their relationship will end as did his and Catherines, that it will dissolve as will certainly their names on the beach? With time, Hemingway seems to suggest, their good luck will turn, but neither yet realize it.

Capital asset pricing model Essay Example | Topics and Well Written Essays - 1000 words

Capital asset pricing model - Essay Example The market indices of the securities market may not always diversify well. The capital-pricing model will not explain investors’ behavior and the beta might fail in capturing the risk of investment in real life practice due to these factors. Therefore, the model fails to act as a uniform and efficient valuation model in a real practical situation. The model only works in a generalized situation that is when dealing with a portfolio but fail if the investment is broken down into single forms of securities. The capital asset pricing model assumes that the higher the risks the higher the return and that all the investors are risk averse. The model assumes that securities are highly divisible into small parts. The model further, assumes that all investors access information at the same time and that investors make decisions based on a single period horizon. The capital asset pricing model is practically difficult to validate. Empirical validation of the capital asset pricing model has to establish that beta has ability to measure the risk of a security (Szyszka, 2009). It also has to show that there is a significant correlation between beta and the expected rate of return. The empirical results have however, being of mixed outcomes. The results have shown that the relationship is not as strong as the capital asset pricing model indicates. The results also have also shown that the expected returns are also related to other measures of risk, which includes firm’s specific risk. Other factors such as market value and book value ratios relationship with returns were found to be significant. In order to test capital asset pricing model empirically researchers need to use data on expected prices. However, the data available is historical information only. This therefore, will result to biased empirical results. The capital asset pricing model assumes that the market portfolio consists of all the assets in all the markets. The market portfolio according to t he capital asset pricing theory must include every marketable asset (Khalaf, 2010). The assumption behind the market portfolio is that market index performance is impacted by every factor in the economy. The use of proxy portfolio is very controversial and this leads to the questioning of the validity of the Capital asset pricing model. Capital asset pricing model measure of a security future risk (Beta) is constant. In a real security market, investors do not have future information about the market to estimate beta. Investors only have past information about the market portfolio, performance of different organizations and prices of shares. Therefore, investors can only estimate the measure of a security future risk using historical data. The use of a historical beta is only applicable in case the beta is stable over time. Research has shown that betas for different securities are not constant over time. Therefore, historical betas are poor indicators to determine future risk of se curities. B) Describe Roll’s critique of the early empirical tests of the Capital as

Managing Financial Resources on Tesco and Sainsbury Essay

Managing Financial Resources on Tesco and Sainsbury - Essay Example Both the companies Tesco and Sainsbury are a retail giant multi-chain retail stores. Both the companies are companies have achieved profitability in the financial year 2013. Looking at the financial statement both the companies are in the relatively safe position in terms of profitability. On the overall Sainsbury has a better profitability margin than Tesco. With regards to the Liquidity ratio both the company are in a similar position. Both the companies should look at improving their financial performance to improve their return to the shareholders. Tesco PLC is a multinational grocery store located in Cheshunt, United Kingdom. It is presently the second largest retailer in the world in terms of revenues. It has its presence in 14 countries across Europe, Asia and North America. Tesco was originally a grocery retailer and has diversified geographically into many areas like books, clothing, retailing, furniture, electronics, petrol and software. It also has its presence in telecoms , financial services and internet services, music downloads and DVD rental. This report will take a look at the financial performances of the two companies; discuss possible users of such analysis and what they can do with this information. Discussion Profitability ratios Three profitability ratio for Sainsbury and Tesco are shown below Profitability Ratio for the year ended 2013 Sainsbury Tesco Gross profit margin 0.05 0.06 Net Profit margin 0.03 0.02 Return on Equity 0.11 0.08 Gross Profit margin is used to measure the financial health of a company. It reveals the amount of money which is left over after deducting the cost of goods sold from the revenues. It is the source of paying for additional expenses and future savings. It indicates the manufacturing efficiency of the production process for the company. A high gross profit margin signifies that a company can make profit while keeping the overhead cost in control. A low margin indicates that a company is not able to control it s production cost. Retail Industry average of Gross profit margin is around 10%. But for both the companies it is below the industry standard. For Sainsbury it is 5% and for Tesco it is 6%. For both the company the cost of sales is high as percentage of its sales. For Sainsbury the cost of goods sold comprises of 95% of the sales figure and for Tesco it is 94%. Both the company must try to reduce its operating cost to improve its efficiency. There are ways to improve the gross profit margin. The company should look to optimise its price structure and should not look at discounting their prices. The company should try to sell goods at higher margins. The company should try to improve the inventory systems like less theft, stock obsolescence. Net Profit Margin The Net profit margin is how much dollar is earned by the company ultimately for each dollar of sales achieved by them. Similar to gross profit margin, their ratio shows the efficiency of the company. This ratio shows the compan y’s pricing policies and how efficient the company is in running its operation. Retail Industry average of Net Profit margin is 10%. For both the companies the ratio is well below the industry average. For both the companies the Net profit margin is nearly the same. They must try to improve their ratio so that the efficiency increases. The companies should try to increase their volume of goods sold. They should aim to decrease their purchase cost, increase their conversion rate of raw materials, and sell goods at higher margins. Return on Equity Return on Equity is another measure of efficiency of the management in generating the returns for the capital invested by the shareholders. The higher is the ratio the better it is for the shareholders to invest their money into the company. In retail industries companies require huge capital to invest in their business. Hence the companies should generate high returns. The industry average of ROE is 15%. Both the companies are both b elow their standard figure. ROE of Sainsbury is higher than that of Tesco. This shows that

Hummingbird Effect Paper Essay Example | Topics and Well Written Essays - 750 words

Hummingbird Effect Paper - Essay Example However, majority of these innovations possesses what is known as the causality effect where the results are virtually unknown. Each of the activities is connected and it is just important that we are able to predict the outcomes and create measures to prevent destruction. The Hummingbird effect is the kind of effect that is felt in relation to recent technological innovation that has been said to cause a positive change on one of the areas while a great negative effect is likely to take place in a completely different area. In this case, it refers to the sense that the innovations that are done in one field are likely to have unintended impacts on another. It is different from the butterfly effect in the sense that it is random and unpredictable. Therefore, it refers to the fact that one technological innovation can lead to the development of a chain of many others in different sectors. The adjacent possibilities take place in the form of finding solutions from the initial innovations when you are not looking for one. For instance, with the advent of the use of computers and the internet, people have been able to communicate in a faster and better way. However, there is also the issue of privacy, security and internet theft among other components (Jo hnson, 2014). In order to experience the best effects of the hummingbird effect, there are a number of technological factors and infrastructure that are required to enable its commercialization. Some of these include security software that will prevent the access of the privacy information of individuals in different sites (Johnson, 2014). It will also include training of the relevant personnel on security issues. In addition, the use of spyware will enable the entrepreneurs to make the predictions at the right time. In case, the hummingbird effects set in before time, they are likely to knock them over and affect the operations of different activities. The realization of the effects too late also leads to the

Transferable Learning Essay Example | Topics and Well Written Essays - 2500 words

Transferable Learning - Essay Example These important industries are the building blocks of successful economic growth. This paper evaluates Lonrho’s business interests in Africa to determine the company’s position, strengths and weaknesses against the backdrop of internal and external constraints and opportunities (Lonrho vision, 2013, Para6). Management structure Stakeholders Stakeholder Stakeholder expectation Customers Customers expect services and products of high quality relative to the price charged. In the case of corporate and government contracts, the expectation is timely delivery of products and services the company is contracted to supply. Investors (shareholders) Shareholders anticipate a return on their investment in terms of dividends and growth in terms of expansion and market capitalization. Employees Employees expect proper remuneration for their labor in terms of the pay package and social security. External Environmental Analysis (PESTLE Analysis) PESTLE is an acronym for political, eco nomic, social, technological, legal and environmental factors, which are used to assess the market for a business or organizational unit (Salva?, 2011, P.96). Political Factors Political factors are government regulations such as employment laws, environmental regulations and tax policy. The company’s John Deere distributor in Mozambique experienced import delays of tractors and other consignments towards the end of the financial year 2012. These delays resulted in loss of contracts and project delays and had a negative effect on the company’s revenue and profitability (Project delays, 2012, Para3).

Discussion questions Article Example | Topics and Well Written Essays - 250 words - 1

Discussion questions - Article Example I agree with the constituencies who argue that the flag preserves the fallen heroes’ legacy. On the other hand, the heroes represented by the flag were against the civil rights which promote racism in the region. The governor should, therefore, remove the flag to reduce cases of unrest and discrimination in South Carolina (Eugene 2011). Q2. Policy making is one of the toughest process lawmakers, and policy implementers go through in any given region. This is because; there are conflicts with respect to the views of various policy makers. Every person is mandated to personal opinion which leads to conflicting versions in the policy making process. It also clear that, some problems in society are not public problems considering the place the place that experiences the problem (Peter 2001). Q3. Regionalism is an approach in policy making that promotes the idea that some problems in the society are not public issues. This is because, the problem affecting a particular region do not affect other regions equally (Eugene 2011). Regionalism has various benefits in problem-solving across the country. For example, the issue of Marijuana consumption and peddling in the U.S has found a solution through implementing laws that legalize its use in the rampant states of Washington and Colorado. This makes it easier for the government to control the use of Marijuana in the specified states. Regionalism is effective in controlling cartels dealing with distribution of the drugs in Colorado and Washington. This is because it helps in eliminating other criminal activities accompanying illegal sale of Marijuana (Peter

Hummingbird Effect Paper Essay Example | Topics and Well Written Essays - 750 words

Hummingbird Effect Paper - Essay Example However, majority of these innovations possesses what is known as the causality effect where the results are virtually unknown. Each of the activities is connected and it is just important that we are able to predict the outcomes and create measures to prevent destruction. The Hummingbird effect is the kind of effect that is felt in relation to recent technological innovation that has been said to cause a positive change on one of the areas while a great negative effect is likely to take place in a completely different area. In this case, it refers to the sense that the innovations that are done in one field are likely to have unintended impacts on another. It is different from the butterfly effect in the sense that it is random and unpredictable. Therefore, it refers to the fact that one technological innovation can lead to the development of a chain of many others in different sectors. The adjacent possibilities take place in the form of finding solutions from the initial innovations when you are not looking for one. For instance, with the advent of the use of computers and the internet, people have been able to communicate in a faster and better way. However, there is also the issue of privacy, security and internet theft among other components (Jo hnson, 2014). In order to experience the best effects of the hummingbird effect, there are a number of technological factors and infrastructure that are required to enable its commercialization. Some of these include security software that will prevent the access of the privacy information of individuals in different sites (Johnson, 2014). It will also include training of the relevant personnel on security issues. In addition, the use of spyware will enable the entrepreneurs to make the predictions at the right time. In case, the hummingbird effects set in before time, they are likely to knock them over and affect the operations of different activities. The realization of the effects too late also leads to the

Discussion questions Article Example | Topics and Well Written Essays - 250 words - 1

Discussion questions - Article Example I agree with the constituencies who argue that the flag preserves the fallen heroes’ legacy. On the other hand, the heroes represented by the flag were against the civil rights which promote racism in the region. The governor should, therefore, remove the flag to reduce cases of unrest and discrimination in South Carolina (Eugene 2011). Q2. Policy making is one of the toughest process lawmakers, and policy implementers go through in any given region. This is because; there are conflicts with respect to the views of various policy makers. Every person is mandated to personal opinion which leads to conflicting versions in the policy making process. It also clear that, some problems in society are not public problems considering the place the place that experiences the problem (Peter 2001). Q3. Regionalism is an approach in policy making that promotes the idea that some problems in the society are not public issues. This is because, the problem affecting a particular region do not affect other regions equally (Eugene 2011). Regionalism has various benefits in problem-solving across the country. For example, the issue of Marijuana consumption and peddling in the U.S has found a solution through implementing laws that legalize its use in the rampant states of Washington and Colorado. This makes it easier for the government to control the use of Marijuana in the specified states. Regionalism is effective in controlling cartels dealing with distribution of the drugs in Colorado and Washington. This is because it helps in eliminating other criminal activities accompanying illegal sale of Marijuana (Peter

The Method of Scientific Investigation Essay Example for Free

The Method of Scientific Investigation Essay Thomas Huxley explains scientific investigation in more depth in his The Method of Scientific Investigation essay, what is he trying to say in this passage? It could be many things, it could be nothing or it could be something, were basically trying to find out what he is explaining when he talks about this certain scientific method. His meaning of scientific investigation is very detailed that one must use the operations of induction and deduction in their everyday lives, and its very much true but we dont notice it not one bit. For example; if you go and buy a cell phone you basically examine it and see it suits your lifestyle and liking, this is called induction, you were analyzing and tracing its logical elements. Huxley as well states something similar but towards a person buying an apple in a fruiterers shop. Huxley states, fou take up one, and, on biting it, you find it is sour; you look at it, and see it is hard and green. The shop man offers you a third; but before biting it, you examine it, and find that it is hard and green, and you immediately say that you will not have it, as it must be sour, like those that you have already tried (Huxley 2). Buying a cell phone, shopping for an apple, or buying anything, you will in fact do some induction, its all in the method of scientific investigation, you generalized the facts and came to conclusion on your final decision on buying the product or not and then thats when you start deducting your choices during this method. Although, people perform inductions and deductions without even knowing that they are, they also perform hypothesizes. A hypothesis to me is an educated guess, as to Huxley; a hypothesis Just means that you are coming to a conclusion without examination. He uses a burglary for example stating that someone has broke open the window, entered the room, and run off with the spoons and the tea-pot (Huxley 4). He states that this is merely a hypothesis rapidly framed in your own mind, that you havent taken the time to properly examine the situation without scientific investigation. All throughout the second paragraph on page four of his essay he gives a brief explanation on what examinations he has gotten from the situation without jumping straight to conclusions, this also relates to induction and deduction, as well as his apple theory which a person will examine an apple and come to his/her final decision to buy it or not is also called a syllogism, he or she is coming to their final etermination. Thomas Huxley wants us to understand that scientific investigation is not as difficult as it seems but it makes everyday life possible. Huxleys tone throughout this essay was very familiar and direct because he talks to the reader about scientific investigation. For example, in his second paragraph on the first page he says, mfou The use of you in this one paragraph and throughout his essay makes it sound like he is talking to whoever is reading directly, thats why his tone is familiar and direct. In conclusion, Thomas Huxleys essay The Method of Scientific Investigation basically explains how this method will help a lot of people and it is used during our everyday lives, which makes it possible as well. The apple theory that he made in his essay is very useful in proving his point in his argument which one uses induction and deduction and come to a final syllogism in choosing an apple from a fruit shop. Also he explains his definition of a hypothesis, when one person comes to a conclusion without examining the situation with more depth, he talks about a urglary of a tea-pot on the fourth page to better explain the meaning of his definition of the term hypothesis, in a familiar and direct tone that really captivates the reader as he talks to them directly. So my definition of scientific investigation was close to his, in which I stated that it breaks down a problem to find a solution scientifically. Work Cited Huxley, Thomas. The Method of Scientific Investigation. Autobiography and Selected Essays. Copyrighted in 1909 by the Riverside College Classics Press. Ed. Ada L. F. Shell. New York City. Print.

Marks and Spencer 2009-2010 Financial Analysis

Marks and Spencer 2009-2010 Financial Analysis This report aims to perform a financial analysis of Marks and Spencers, between 2009 and 2010. Generally, a companys financial statements reflect a certain period of changes in financial position and operating results. Thus, by analyzing the companys financial statements will be able to operate throughout of a basic understanding with its strength, financial adaptability and performance of company. As the annual report is provided information and content to all ranges of users, which includes the companys existing shareholders, potential investors, creditors, government and the nature of other users. Therefore different users of accounts may concentrate in only a few important parts of accounting data and business information. Ratios To compare the revenues across two years, MS has gained 9062.1m in 2009 and then growing to 9536.6m in 2010. It is also likely to continue to trend upward due to their long-term strategy and improved market share. MS managed their costs cautiously, paid attention and responded to their customers changing needs. Profitability Ratios Gross profit % 3618.5/9536.6 3371.9/9062.1 =37.94% =37.21% The figures show on the gross margin has increased from 37.21% to 37.94%, this increase may have arisen from the production costs or from a sales with a good sales value. Thus, MS is able to control its production costs and achieve and optimum sales price and sales quantity. It can be an indication of marketing effectiveness. Pre-tax profit % 702.7/9536.6 706.2/9062.1 =7.37% =7.79% The net profit margin is 7.793% in 2009 and decreased to 7.368 % in 2010. This shows the amount of the net profit from each  £1 turnover a business has earned. After-tax profit % 523/9536.6 506.8/9062.1 =5.48% =5.59% Performance Ratios After tax profit as a 523/2168.6 506.8/2081.7 shareholders funds =24.12% =24.35% Return on Investment 523/7153.2 506.8/7258.1 =7.31% 6.98% The ratio indicates that from 6.98% in 2009 which has increase to 7.31% in 2010. This is a very important ratio for all users of financial statements. Along with the rate of the degree is more efficiency on production, higher profitability MS will get. Earning per share 33.5p 32.3p This ratio used as indicator of financial performance. Compare to 2010 since 2009, there has been 1.2p increased from 32.3p to 33.5p. Dividends per share 15p 22.5p Return on capital 523/ (7153.2-1890.5) 506.8/ (7258.1-2306.9) Employed =9.94% =10.24% This ratio indicates the amount of capital invest in the company in the long term and with the return achieved on that capital. Based on the figures above, the percentage in 2010 has been decreased compare to year 2009. Overall business activities and corporate profitability, the stronger the higher the profitability; return on assets reflects shareholders and creditors  profitability of investment funds; return on equity reflects the profitability of the shareholders to invest.   Liquidity Ratios Current ratio 1520.2:1890.5 1389.8:2306.9 =0.804:1 =0.602:1 According to the rule says that the current ratio must be at least 2 which mean the current asset needs to be double to meet the current liabilities. the quick ratio is a relatively safe, low efficiency of the suspected high, too low, there may be poor management.In 2009 Marks and Spencers only had 0.602 worth of current assets for every pound of liabilities. Even though it has been increased to 0.804 in 2010, they were still unable to support its short term debt from its current assets. The company has considerably less cash in 2010 than in 2008. Quick ratio (1520.2-613.2):1890.5 (1389.8-536):2306.9 =0.48:1 =0.37:1 This ratio provides severe test of liquidity by omitting stocks. The ratio has increased from 0.37 to 0.48. Gearing 2278/2185.9 x 100% 2117.9/2100.6 x 100% =104.2 =100.8 The ratio concerns on long term capital structure. It indicates the relationship between debt and shareholder funds. If borrowings is bigger than equity, there will be a highly gear and this can raise more money as the higher the level of gearing, the greater the risk. Debt ratio 4967.3/7153.2 5157.5/7258.1 =0.694 =0.711 The ratio indicates debt is covered by shareholders funds. The debt to equity ratio shows for every  £1 of shareholders funds in 2009 there was  £0.711 of debt. This compares to  £0.694 in 2010, it has decreased. Short-term liquidity refers to the ability of companies to repay short-term debt.  Short-term solvency deficiency, not only will affect the credit, increasing the future cost and difficulty of raising funds, but also enables companies in financial crisis, or even bankruptcy.   The impact of internal factors Profitability  is  the core  concern  in all aspects, as well as  the key to success. Hence, only profitable companies can survive and achieve long-term sustainable business.  This is the reason whether investors or  creditors are both reflected very seriously in  the rate of  profitability of the business.  Views at 3 April, 2010, group revenues were increased 5.2% to 9.5bn, this is benefited from the growth of market share in the clothing and food market conditions improve. Based on UK sales of 2.9% and international sales of 5.7% increase, from the Singer Capital Markets analyst, Matthew McEachran, said MS non-food business has a good performance to some extent offset by a large-scale impact of profit sharing, making the companys annual earnings expectations basically reached the outside world.   Firstly, as a result of improving consumer confidence has seen the clothing market return to growth. Womenswear value market share grown to 10.7%, due to MS seems expanded their focus group of all ages and lifestyles. Chairman of MS, Stuart Rose said: In the past year, we achieved all the core areas of performance improvement, reflecting MS has a good brand influence. In bringing the company out of  economic crisis, we focus on the factors that consumers care about, namely, quality and value. At the same time, the economic outlook as consumers is still worried about a certain degree, so we are also cautious about the operation of current fiscal year. Therefore by way of retain their position as market leaders, it needs to deliver clothing for Every Women, Every Time. Which means every customer can have the product they want, in the right size, color and style every time when they shop in MS. Furthermore, lingerie has grown volume market share to 18.9% and value market share to 25.9%. This significant indicate that one out of four women buying MS underwear. This gain benefits continued emphasis on innovation and provides lingerie solutions women want. Similarly for menswear and kidswear, in order to become fashionability, MS has more focused on improving the style and designs, putting effort on deliver the best quality. Secondly, food sales of MS is another main revenue income, there was increased 1.8% to 4.3bn in 2010. One of the reasons is deflation with falling food prices and customers were buying more. According to MS annual report shows share of the apparel market in the UK rose 0.3% to reach 11.2%.  At the same time, with the level of consumer spending recovery, all branches of MSs sales are to achieve growth.   Since the summer of 2007 MS achieved comparable sales growth for the first time. However, despite the implementation of price-cutting strategy, MSs market share from 3.9% to 3.8%.   Shop Your Way is another reason of changes in profitability. It is a new ordering service, allowing customers either shop in stores, place orders online or over the phone. This makes an advantage that increasing the efficiency, delivered a strong performance, hence, sales grown by 27% to 413.3m. During 2009/10 international sales were up 5.7%, accounting for 10.2% of total revenues. Although it is hard trading in the Republic of Ireland and Greece, MS  insists international growth plans. India and China  considered as two key regions  overseas expansion.  As India  are convinced that  with  the tremendous  economic  development,  in the next  5-10  years,  there will be a large number of  middle class appear  in the community,  and they  will become  MSs  potential customers. The reason  placed such  high expectations  on overseas markets,  due to the  financial crisis  of this  hundred years old  business  in the local  enormous challenges encountered.  Because of  customers  are choosing  cheaper cost goods supermarket such as TESCO  and o ther  procurement,  caused MS  this past  Christmas  sales  worst  since 1998,  the year,  MS was forced to close  up more than 25  franchised  food  supermarkets and  lay off  thousands. Viewing the clothing market trends in China, MS seem to underestimate the Shanghai consumers fashion needs. According to the survey of Financial Times, consumers were disappointed with MS selling the old fashion of T shirt. Similarly as Daily Mail survey, most of the female consumers thought the only items MS worth buying is lingerie. And other clothes are too old and boring, prices also expensive with little choice. From the above reflects the consumers point of view, MS clothing market in China is still in a position of British middle-aged level, they did not know the elderly in China has been spending very little on clothes, even though they chose are the cheaper ones. Therefore in order to b uild a platform of long term growth, MS is continuing international expansion. Ensure creating sustainable business in these countries; represent a great opportunity for MS. However, on the premise of that, plan for regional variations and accurately stock with right colors and sizes are important. At present  there are more than  30 countries  around the world  with approximately  760  branches  of MS,  became  the most representative of  the UK  chain stores  and clothing  retailers.  In the global  environment from being damaged  under the impact, MS in  November 2007  implement a 5 years eco-plan called PLAN A to  cope with climate change  and other environmental  conservation issues  and the implementation of  waste reduction,  conservation of natural resources,  fair trade, etc.  to create  the correct  concept of environmental protection  of the  health  state.  In 2010  the scheme  had already reached  five main  objectives which are become carbon neutral, send no waste to landfill, extend sustainable sourcing, help improv e the lives of people in supply chain and help customers and employees  live a healthier life-style. This five main goals represent five key areas (climate change, waste, sustainable raw materials, fair partner and health and safety), and they divided for environmental protection and ecological 100 commitments.   From the promotion of PLAN A of the past twelve months, MS has been achieved: reduce carbon dioxide emissions by 55,000 tons within the shops and offices , supporting small-scale farmers feel investing in renewable energy production, the creation of three eco-store testing, purchase 140 air-powered environmental goods, the carbon footprint of the implementation of food programs to reduce waste activities, MS has begun to allow customers to reduce the use of shopping bags and to promote recycling and reuse of old clothes. In addition, MS is also working to reduce product packaging, not only to increase the use of recycled materials, and improve the recycling rate of building materials. In the development of sustainable resources, introduction of more fair trade higher goods, such as organic cotton, organic linen and recycled polyester material. Furthermore, increase 48% in sales of organic food. In a fair partner part of the promotion of fair trade certified products. PLAN A was succe ssfully established with suppliers trading patterns, and increased by 20% fair trade food sales. In terms of health, MS remove those 99% with artificial colors and spice rack food from sale and reduce the sodium content of food. PLAN A advocated by the environmental program has become internationally recognized as the practice of business ethics, but also by the Financial Times reported in March 2007 recognize as the best understanding of consumer needs, and focus on the popular social and environmental enterprises. According to the choice of partners, to promote social responsibility, health view on behalf of the establishment, removal of unhealthy products, able to recognition MS to improve the environment, green determination and enthusiasm. As a result, PLAN A gained 50m additional profit for MS. Ensure MS become succeeds, governance also affect the profitability. Focus on how to get things right across the business during 2009/10, a trusted brand, strong leadership, clear plan, motivated employees and delighted customers as well as right checks and balances. The impact of external factors One of the impacts of external factors on the profitability of MS will be their competitors. 40% compared to a decline in profits last year has been a great improvement though, but as the UKs largest clothing retailer, MS is far behind Next, John Lewis and Debenhams.   Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  MS in the economic crisis hit, especially deep, as it has been the face of competition from discount chain Primark clothing market share and strive to maintain.  It also recognizes too late to adjust their own high-end food business.     Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  The company as it started in full force, in terms of the introduction of cheap Wise Buys food products, such as the introduction of a new clothing line Indigo.   in order to reduce size of the deficit, the British newly formed coalition government plans to value-added tax rate from the current 17.5% to 20%, which will have a significant impact on MS.  Ross said the analyst meeting, MS almost certainly raise prices by the way the VAT increase onto consumers.  Ross also pointed out that since the budget announcement from Ireland, the countrys trade situation to achieve a steady improvement.  

Analysis of the Failure of Superior Bank and Trust Essay example -- es

Superior Bank & Trust The thrift financial Institution Superior Bank & Trust is one of the largest. It is located in Chicago and has many branches eighteen of which can be found in the Chicago area. It is owned by one of Chicago's wealthiest families the Pritzkers and Alvin Dworman a well-known real-estate investor from New York. With assets totaling $2.3 billion and deposits of $1.6 billion Superior Bank FSB got caught up in some problems with sub prime loans. This was their main focus. Sub prime lending is lending to people who are poor credit risks. They lend money or issue credit cards at high interest rates. Many companies have prospered using this method but most have gone under due to rising default rates and early prepayments by borrowers who can refinance at lower rates. Superior Bank & Trust's failure was directly related to sub prime lending. Regulators were believed to have detected problems as early as January 1999. These regulators should have been the ones to step in and notice that things weren't going the way they should have been. Instead Superior's management is bearing the brunt of the blame in this situation. Ellen Seidman states "responsibility for the success or failure of any depository institution rests with its management, directors, and owners." This may be true but if management and financial intermediaries had been performing their tasks properly they would have n...

Life and Achievements of Henry Ford :: Biography

Life and Achievements of Henry Ford Henry Ford was born in Dearborn, Michigan, on July 30, 1863. He died on April 7, 1947, in Dearborn. He started his career in production at the age of 16 as a machinist’s apprentice. He then began his career as a mechanical engineer with the Edison Illuminating Company in 1888 and worked there until 1899. He founded the Ford Motor Company in 1903. He produced his first car, the Quadricycle, in 1896. He had developed this car in his spare time. He finally adopted a production method that would be used forever after its introduction. In 1913 Ford implemented standardized interchangeable parts and assembly-line techniques in his plant. This method of production is something very relevant to the field of industrial engineering. He was now able to maximize the use of his work force and increase production of vehicles substantially. Ford introduced his company’s most famous development, the Model T, in 1908. In its 19 years of production there were 15 million of the car produced. Despite this fact they were not the largest auto manufacturer because of Ford’s decision to he was too slow in adopting the practice of introducing a new model of vehicle each year. Despite this times were not hard at Ford. He was granted a war production contract in 1941, at the start of World War II. His company started off by manufacturing parts for bombers and eventually began to produce the entire airplane. By the time of the war’s completion in 1945 Ford’s assembly lines had successfully produced over 8000 airplanes. Aside from running an amazing business Ford had other interests, many which were charitable. Ford chartered a peace ship in 1915, in which he an other like minded individuals tried to convince the leaders of the countries involved in World War I to stop the war. Life and Achievements of Henry Ford :: Biography Life and Achievements of Henry Ford Henry Ford was born in Dearborn, Michigan, on July 30, 1863. He died on April 7, 1947, in Dearborn. He started his career in production at the age of 16 as a machinist’s apprentice. He then began his career as a mechanical engineer with the Edison Illuminating Company in 1888 and worked there until 1899. He founded the Ford Motor Company in 1903. He produced his first car, the Quadricycle, in 1896. He had developed this car in his spare time. He finally adopted a production method that would be used forever after its introduction. In 1913 Ford implemented standardized interchangeable parts and assembly-line techniques in his plant. This method of production is something very relevant to the field of industrial engineering. He was now able to maximize the use of his work force and increase production of vehicles substantially. Ford introduced his company’s most famous development, the Model T, in 1908. In its 19 years of production there were 15 million of the car produced. Despite this fact they were not the largest auto manufacturer because of Ford’s decision to he was too slow in adopting the practice of introducing a new model of vehicle each year. Despite this times were not hard at Ford. He was granted a war production contract in 1941, at the start of World War II. His company started off by manufacturing parts for bombers and eventually began to produce the entire airplane. By the time of the war’s completion in 1945 Ford’s assembly lines had successfully produced over 8000 airplanes. Aside from running an amazing business Ford had other interests, many which were charitable. Ford chartered a peace ship in 1915, in which he an other like minded individuals tried to convince the leaders of the countries involved in World War I to stop the war.