Stefan’s Diaries: Origins Chapter 5

The next morning, I awoke to breathless news from Rosalyn's servants that her prized dog, Penny, had been attacked. Mrs. Cartwright summoned me to her daughter's chambers, saying nothing had stopped Rosalyn from crying. I tried to comfort her, but her wracking sobs never abated. The whole time, Mrs. Cartwright kept giving me disapproving glances, as if I should be doing a better job calming Rosalyn. â€Å"Y have me,† I'd said at one point, if only to ou appease her. At that, Rosalyn had flung her arms around me, crying so hard into my shoulder that her tears left a wet mark on my waistcoat. I tried to be sympathetic, but I felt a stab of annoyance at the way she was carrying on. After all, I'd never carried on like that when my mother had died. Father hadn't let me. You have to be strong, a fighter, he'd said at the funeral. And so I was. I didn't cry when, just a week after Mother's death, our nanny, Cordelia, began absentmindedly humming the French lullaby Mother had always sung. Not when Father took down the portrait of Mother that had hung in the front room. Not even when Artemis, Mother's favorite horse, had to be put down. â€Å"Did you see the dog?† Damon asked, as we walked into town together that night to get a drink at the tavern. Now that the dinner where I was to publicly propose to Rosalyn was just days away, we were heading out for a whiskey to celebrate my impending nuptials. At least, that's what Damon called it, elongating his accent to a flat Charlestonian drawl and wiggling his eyebrows as he said it. I tried to smile as if I thought it was a great joke, but if I began talking, I knew I wouldn't be able to hold back my dismay about marrying Rosalyn. And there wasn't anything wrong with her. It was just †¦ it was just that she wasn't Katherine. I turned my thoughts back to Penny. â€Å"Y Its es. throat had a gash in it, but whatever the animal was didn't go for her innards. Strange, right?† I said as I rushed to keep up with him. The army had made him stronger and faster. â€Å"It's a strange time, brother,† Damon said. â€Å"Maybe it's the Yankees,† he teased with a smirk. As we walked down the cobblestone streets, I noticed signs affixed to most doorways: A reward of one hundred dollars was being offered to anyone who found the wild animal responsible for the attacks. I stared at the sign. Maybe I could find it, then take the money and buy a train ticket to Boston, or New Y ork, or some city where no one could find me and no one had ever heard of Rosalyn Cartwright. I smiled to myself; that would be something Damon might actually do–he never worried about consequences or other people's feelings. I was about to point out the sign and ask what he'd do with one hundred dollars when I saw someone frantically waving at us in front of the apothecary. â€Å"Are those the Salvatore brothers?† a voice called from up the street. I squinted across the twilight and saw Pearl, the apothecary, standing outside her shop with her daughter, Anna. Pearl and Anna were two more victims of the war. Pearl's husband had died at the Vicksburg siege just last spring. After that, Pearl had found a home in Mystic Falls, and she ran an apothecary that was always busy. Jonathan Gilbert, in particular, was almost always there when I walked by, complaining about some ailment or purchasing some remedy or another. Town gossip was that he fancied her. â€Å"Pearl, you remember my brother, Damon?† I called as we walked over the square to greet them. Pearl smiled and nodded. Her face was unlined, and a game among the girls was trying to determine how old she was. She had a daughter who was only a few years younger than me, so she couldn't be that young. â€Å"Y two certainly look ou handsome,† she said fondly. Anna was the spitting image of her mother, and when they stood side by side, the two looked as if they could be sisters. â€Å"Anna, you look more beautiful each year. Are you old enough to be going to dances yet?† Damon asked, a twinkle in his eyes. I smiled despite myself. Of course Damon would be able to charm both a mother and a daughter. â€Å"Almost,† Anna said, her eyes sparkling in anticipation. Fifteen was the age when girls were old enough to stay through dinner and hear the band strike up a waltz. Pearl used a wrought-iron key to lock the apothecary, then turned to face us. â€Å"Damon, can you do me a favor? Can you make sure Katherine gets on tomorrow night? She's a lovely girl, and, well, you know how people talk about strangers. I knew her in Atlanta.† â€Å"I promise,† Damon said solemnly. I stiffened. Was Damon escorting Katherine tomorrow night? I hadn't thought she'd come to the party, and I couldn't imagine proposing in front of her. But what choice did I have? Tell Father that Katherine wasn't invited? Not propose to Rosalyn? â€Å"Have fun tonight, boys,† Pearl said, breaking me out of my reverie. â€Å"Wait!† I called, the dinner momentarily forgotten. Pearl turned around, a quizzical expression on her face. â€Å"It's dark, and there have been more attacks. Would you like us to escort you ladies home?† I asked. Pearl shook her head. â€Å"Anna and I are strong women. We'll be fine. Besides †¦Ã¢â‚¬  She blushed and glanced around, as if afraid to be overheard. â€Å"I believe Jonathan Gilbert wants to do that for us. But I do thank you for your concern.† Damon wiggled his eyebrows and let out a low whistle. â€Å"Y know how I feel about strong women,† ou he whispered. â€Å"Damon. Be appropriate,† I said, slugging him on the shoulder. After all, he wasn't on the battlefields anymore. He was in Mystic Falls, a town where people liked to eavesdrop and loved to talk. Had he forgotten so quickly? â€Å"Okay, Auntie Stefan!† Damon teased, raising his voice in a high lisp. I laughed despite myself and slugged him again on the arm for good measure. The punch was light, but felt good–a way to unleash some of my annoyance that he was able to escort Katherine to the dinner. He good-naturedly slugged me back, and we would have broken out into an all-out brotherly brawl if Damon hadn't pushed open the wooden door to the Mystic Falls Tavern. We were immediately greeted by an enthusiastic smile from the voluptuous, red-haired barmaid behind the counter. It was clear that Damon had made himself at home here on several occasions. We elbowed our way to the back of the tavern. The room smelled of sawdust and sweat, and men in uniform were everywhere. Some had bandages on their heads, others wore slings, and some hobbled to the counter on crutches. I recognized Henry, a dark-skinned soldier who practically lived at the tavern, drinking whiskey alone in a corner. Robert had told me stories about him: He never socialized with anyone, and no one ever saw him in the light of day. There was talk that maybe he was associated with the attacks, but how could he be, if he was always at the tavern? I peeled my eyes away to take in the rest of the scene. There were older men tightly grouped in a corner, playing cards and drinking whiskey and, in the opposite corner, a few women. I could tell from the rouge on their cheeks and their painted fingernails that they weren't the types to spend time with our childhood playmates, Clementine Haverford or Amelia Hawke. As we walked past, one of them brushed my arm with her painted fingernails. â€Å"Y like it here?† Damon pulled out a wooden ou table from the wall, an amused smile on his face. â€Å"I suppose I do.† I plunked down on the hard wooden bench and surveyed my surroundings once again. Being in the tavern, I felt I'd stumbled into a secret society of men, just one more thing I knew I'd have little chance to discover before I was a married man and expected to be at home every evening. â€Å"I'll get us some drinks,† Damon said, making his way to the bar. I watched as he rested his elbows on the counter and easily talked to the barmaid, who tilted her head back and laughed as if he'd said something hilarious. Which he probably had. That's why all women fell in love with him. â€Å"So, how does it feel to be a married man?† I turned around to see Dr. Janes behind me. Well into his seventies, Dr. Janes was slightly senile and often loudly proclaimed to anyone who'd listen that his longevity was due exclusively to his prodigious indulgence in whiskey. â€Å"Not married yet, Doctor.† I smiled tightly, wishing Damon would come back with our drinks. â€Å"Ah, my boy, but you will be. Mr. Cartwright at the bank has been discussing it for weeks. The fair young Rosalyn. Quite a catch!† Dr. Janes continued loudly. I glanced around, hoping no one had heard. At that moment, Damon appeared and gently set our whiskeys on the table. â€Å"Thank you,† I said, drinking mine down in one gulp. Dr. Janes hobbled away. â€Å"That thirsty, huh?† Damon asked, taking a small sip of his own drink. I shrugged. In the past, I'd never kept secrets from my brother. But talking about Rosalyn felt dangerous. Somehow, no matter what I said or felt, I still had to marry her. If anyone heard even an inkling of regret from me, there'd be no end to the talk. Suddenly, a new whiskey appeared in front of me. I glanced up to see the pretty bartender Damon had been talking to standing over our table. â€Å"Y look like you need this. Seems you've had out a rough day.† The barmaid winked one of her green eyes and set the sweating tumbler on the rough-hewn wooden table in front of me. â€Å"Thank you,† I said as I took a small, grateful sip. â€Å"Anytime,† the barmaid said, her crinoline skirts swishing over her hips. I watched her retreating back. All the women in the tavern, even those with loose reputations, were more interesting than Rosalyn. But no matter who I glanced at, the only image that filled my mind was Katherine's face. â€Å"Alice likes you,† Damon observed. I shook my head. â€Å"You know I can't look. By the you end of summer, I'll be a married man. Y ou, meanwhile, are free to do as you please.† I'd meant it to be an observation, but the words came out as a judgment. â€Å"That's true,† Damon said. â€Å"But you do know you don't have to do something just because Father says so, right?† â€Å"It's not that simple.† I clenched my jaw. Damon couldn't understand because he was wild and untamable–so much so that Father had entrusted me, the younger brother, with the future of Veritas, a role I now found stifling. A sliver of betrayal shot through me at this thought–that it was Damon's fault I had to shoulder so much responsibility. I shook my head, as if trying to remove the idea from it, and took another drink of whiskey. â€Å"It's very simple,† Damon said, oblivious to my momentary annoyance. â€Å"Just tell him you are not in love with Rosalyn. That you need to find your own place in the world and can't just follow someone's orders blindly. That's what I learned in the army: Y have to believe in what you do. Otherwise, ou what's the point?† I shook my head. â€Å"I'm not like you. I trust Father. And I know he only wants the best. It's just that I wish †¦ I wish I had more time,† I said finally. It was true. Maybe I could grow to love Rosalyn, but the thought that I could be married and have a child in just one short year filled me with dread. â€Å"But it'll be fine,† I said with finality. It had to be. â€Å"What do you think of our new houseguest?† I said, changing the subject. Damon smiled. â€Å"Katherine,† he said, drawing the name into the full three syllables, as if he could taste it on his tongue. â€Å"Now, she's a girl who's difficult to figure out, don't you agree?† â€Å"I suppose,† I said, glad that Damon didn't â€Å"I suppose,† I said, glad that Damon didn't know that I was dreaming of Katherine at night, and by day pausing at the door to the carriage house to see if I could hear her laughing with her maid; once I even stopped by the stable to smell the broad back of her horse, Clover, just to see if her lemon and ginger scent had lingered. It hadn't, and at that moment, in the barn surrounded by the horses, I'd realized how unbalanced I was becoming. â€Å"They don't make girls like her in Mystic Falls. Do you think she has a soldier somewhere?† Damon asked. â€Å"No!† I said, annoyed once again. â€Å"She's in mourning for her parents. I hardly think she's looking for a beau.† â€Å"Of course.† Damon knit his eyebrows together contritely. â€Å"And I wasn't presuming anything. But if she needs a shoulder to cry on, I'd be happy to lend it to her.† I shrugged. Even though I'd brought up the subject, I was no longer sure I wanted to hear what Damon thought of her. In fact, as beautiful as she was, I almost wished that some far-flung relatives from Charleston or Richmond or Atlanta would step forward to invite her to live with them. If she were out of sight, then maybe I could somehow force myself to love Rosalyn. Damon stared at me, and I knew in that moment how miserable I must have looked. â€Å"Cheer up, brother,† he said. â€Å"The night is young, and the whiskey's on me.† But there wasn't enough whiskey in all of Virginia to make me love Rosalyn †¦ or forget about Katherine.

Diseconomies of Scale Essay

Diseconomies of scale occur when a firm increases its output and the cost of the long run production of this output also increases. Diseconomies of scale occur when a firm is very big to bring about coordination problems and increasing input costs. This occurs because of two main reasons: coordination problems and the increasing input costs. Coordination problems can be broken down to several issues. And this problem is usually due to the number of employees in a firm. One of the issues with coordination is communication.Upon increasing the number of employees in a firm for the purpose of increasing output, the channels for communication (i.e. telephone lines, cost of having internet connection for further information dissemination, etc) also increases. This is so since ratio of the number of employees and the communication channels is not 1:1. This means an increase in cost. So in the long run, having more people becomes not viable already since it now causes coordination problem th rough communication cost, thus increasing in production cost in general. Another issue with having a lot of people in a firm is that the firm’s response time becomes slower. This can also be connected to the communication problem that I discussed above.This is so since, having a lot of people implies the need for bureaucracy. With bureaucracy, come standard operating procedures, policies to be followed, roles and division of responsibilities, and hierarchies. Consider a policy which reduces the company’s daily cost from 1000USD to 500USD. Before it can be approved, it has to go through a lot, thus causing a slower response time for a very urgent need. Because of the bureaucracy that is needed for coordinating a large number of people, the longer the delay of approving this policy; and the longer the company delays producing twice the output for the same input cost.Increasing input costs can also be broken down to several issues. One issue with the increasing input cost s is that when the firm gets so big, one department might be working with the same projects as with other departments. This means that the firm is producing or profiting from a single project and is paying for twice the number of employees who can actually finish the job. Another issue with increasing input costs is that having a lot of people to do the job needs managers to coordinate them.Having more managers means paying more for employees who does not actually contribute to the production and is only there to supervise the people. So let’s say that there are five employees, paid 10USD, that need one manager, paid 20USD, to supervise them. The manager is getting 28. 6% of the over-all salary, but the company which pays for 70USD over all is only producing 83. 3% since only 5 out of 6 people are actually working. So, having a lot of people means getting a lot of managers which leaves lesser people who actually does the production.

Two Journals Movie Review Example | Topics and Well Written Essays - 750 words

Two Journals - Movie Review Example The case of Na’vi humanoids, however, is way beyond a frightening state of dominion from species of other forms, for humans in this regard would be found the emerging culprits whose greed causes perils even upon the unseen world. Even though the Na’vi possess looks and stature that are nearly dreadful, the feelings they convey are deeply heartfelt it almost moves me to tears while watching some scenes that exhibit tribe members communicating warmly with each other. Like real humans, they manage to deliver thoughts and emotions in a sensible manner just as how Jake Sully under his avatar suit is able to derive fruitful and solemn interactions with Neytiri. It is greatly fascinating to see that instead of anticipated mysteries or mystic potentials, creatures of another dimension are revealed as almost equal to men in strength, intelligence, and general capacity in coping with love, fear, and hatred. Despite all the wonders and beauty to marvel at in the Pandora’s biosphere, science-oriented humans have reached that stage of discontent in simply navigating cosmic systems. It turns out they desire moreover to explore and gain further knowledge to meet intellectual objectives even at the expense of the moon’s habitat. This is something that makes me reflect on human nature at depth especially when it comes to the extent to which greed among humans may proceed just so the amply increasing demands on human economy are satisfied. The film exemplifies a future possibility when men are no longer astonished by the exquisite sights and encounters of the wonder-filled nature whether on this planet or in a region of outer-space yet to be fathomed. How awful indeed it is to realize when human beings become consumed with covetousness whereby as long as we are conscious regarding the adjustable measure of our potentials, there seems no room for rest until

Compare between two institutions policies Research Paper

Compare between two institutions policies - Research Paper Example Human resource department in an organization carries out a number of functions for the management of the workforce including recruitment, selection, development, orientation, performance, and career path management (Zanko, 2002). This study aims at analyzing employee development as a human resource function as integrated in human resource functions of Shell and Qatar Petroleum. This will be done through numerating the various ways both organizations have similar employee development methods followed by the difference as represented by the policies implemented on employee decision making in Shell and Qatar Petroleum. Employee development augments the skills and understanding of the employees for the achievement of high productivity by the organization and ability of employees to achieve their own personal goals of career development and promotion in the organization (Schmidheiny, 1992). Since employee development ensures the organization has enough human capital with adequate skills a nd knowledge, therefore, it is very important to be implemented in any organization. At shell, a number of measures are taken to ensure the development of employees. In Qatar Petroleum, measures to improve employee development have also been implemented. ... en Shell and Qatar Petroleum in employee development is that the two companies have realized on the need to develop their employees through the provision of measures for employee development. The two companies understand the benefits of a motivated, skilled and well trained human resource as depicted in the different policies and practices harnessed in ensuring employee development is done in both companies (International Business Publications, 2012). Both Shell and Qatar Petroleum offer training of employees for the benefit of the employees in terms of career development and augments their skills in meeting the company’s needs. The measures taken to ensure employment training however differ in the two companies. Qatar provides employee development through the Qatar Petroleum Corporate Training Department (CT), to ensure all employees have enough skills as required by the company. The ways that are used by Qatar Petroleum Corporate Training Department (CT) include provision of professional and training programs. This is similar to Shell where professional training and development is done by the human resource development department in the organization. Shell and Qatar Petroleum have a similar decision making in human resource development that is the exposure of the employees. Employees in both companies area offered opportunities to work in an international environment since the two companies operate in different countries offering the means for the access of these global environment training opportunities. Shell and Qatar Petroleum provide its employees with different training destinations beyond their home country, mainly middle and high level management, in the subsidiaries. Being global companies, employees have opportunities to work with colleagues from around

Fascebook Essay Example | Topics and Well Written Essays - 1000 words

Fascebook - Essay Example In other cases like Zuckerberg’s, where leadership seems to be more authentically connected to team rather than personal goals, the groups tend to work more effectively and move together towards goals more saliently. This can be related to rational systems theory, when aligned with these theories of leadership. â€Å"While focusing on the growth of the user base, Facebook also paid close attention to the revenue side of the business. The company had several sources of income: direct brand sales, online sales, working with the top 200 advertisers in the USA, etc† (Facebook, 2010). At Facebook, Zuckerberg shows how effective leadership is perhaps the most important factor in creating successful partnerships. True leaders are able to motivate and provide vision while still subscribing to a basic pattern of teamwork and support that engenders an atmosphere of trust and mutual respect. Too often leaders are more interested in leading than in providing fundamental solutions to the problems at hand. In today’s dynamic society, leaders are also increasingly adhering to a pattern that accepts change, rather than stability, as the standard. This creates an environment in which dynamism is supported and can lead to new creative solutions. It is sometimes easy for a business or corporation to accept its position as the status quo without realizing that the world has a habit of changing very quickly, as today’s giants can become tomorrow’s vacant office blocks. Therefore, effective leaders must see the change inherent in the outside environment and p roject it inwardly to adhere to the vision of their organization and supply real-world solutions to the problems at hand. â€Å"Communications processes both internally with employees and externally with customers are integral parts of a system†¦ while some advocates of systems analysis were suggesting that managers look at inputs, transformation processes and outputs,

Is playtime valuable in the primary school Essay

Is playtime valuable in the primary school - Essay Example The play time also allow the children to fight obesity as they are more active. The physical activity increases the energy level of the children. The children who indulged in playtime can have increased bone and muscle strength and can have good health. The physical activity can increase the blood circulation which also helps in increased growth. The children are playful in young age and if they indulge in play time then they have increased interest in study time. The children cannot be weary of studies as play time can give them extra leisure time. As per Ridgers (2006) â€Å"Physical activity guidelines state that children should engage in atleast 1 hour of moderate intense physical activity once a day† Play time also has an important effect on the emotional health of the children. The play time revives the mental energy of the children as they can be increasingly happy and joyful after play hours. According to Entin (2011) â€Å"When children are in charge of their own play, it provides a foundation for their future mental health as older children and adults†. The children if do not get enough time to play then they can feel depressed and anxious. In childhood children are more interested in play rather than study. The emotional health of a child is highly depended upon their physical activity. The brain development of a child is largely based on their physical activity. A child gets the most mental satisfaction from play time and hence it is highly beneficial on emotional levels. The cognitive development of a child is also based on their play time hours. The play time is not only healthy for children but also helps in increased emotional, cognitive development and be more resilient and stress managers .... ased emotional, cognitive development and be more resilient and stress managers .The impact of play time on emotional development of children is greater than we think. The creativity, imaginative skill of a child increases with play time hours (Scott,2007). The play time also has effect on the social development of a child. The play time can give children many socializing skills. They can learn to co – operate, sharing and interacting. The children largely interact while they play and hence play time has a potential benefit on social development of children. As per Milteer(2012)â€Å"Play time is a natural tool which cans co – operate, overcome challenge and negotiate with others†. The increased physical activity can increase the personality of child not only in younger years but also in future life. They can be more adaptive too unpredictable circumstances due to play time experiences. The children who engage in play time can be more expressive and communicative . They can be more outward and socializing as they engage more with their peers and friends. The play time allows children to make choices as they engage in various plays and games which have intelligence and logical importance. According to Tomlin (2008) â€Å"Maturation and socialization develop during all stages of childhood through the use of play†. The play time allow children to be more aware and alert and can be more of practical and energetic. The social skills of person are based on the child’s exposure to other people of their age group. During play time the children can be more interacting with other children and this can make them more socializing person in future. As per Caldwell (2012) â€Å"A positive self concept which boosts children is also a benefit of play time in primary schools†. The

Teaching techniques. Differentiated Process, Product, and Content Assignment

Teaching techniques. Differentiated Process, Product, and Content - Assignment Example Students are then encouraged to develop critical thinking skills by looking at writings and other forms of media that influence them today, and compare that to the time of the Founding Fathers as well. All of the objectives stated in the lesson are clearly explained to the students from the outset, and the main assessment related directly back to aforementioned learning goals. Because of the varied types of writing in existence during the time the Constitution was being written, and the plethora of different messages we receive today, this particular lesson and topic provides multiple opportunities to introduce differentiated instruction into the classroom. Based upon student interest, the instructor can tailor make various videos, multi-media, technology, and print based options for the students to learn the necessary concepts for this unit. Each of these strategies would fit the stated learning outcomes (that each student will understand the influence that others have on our way of thinking) and can be aligned to cover differentiated access, product, and content. Differentiated Process, Product, and Content In considering how to apply differentiation to this lesson, it is important that teachers remember that their role is to match the interest level of each student with the mode of instruction and assessment. For this particular unit, the teacher will need to consider the types of media that most influence each student in the class. This can include taking a learning inventory, or simply through observation, but the bottom line is that the instructor needs to bring the curriculum alive to the students. Implementing the differentiation process for this unit will enable each student in the class to understand the lesson objectives, presented in the form of source documents, in their own unique manner. In so doing, it is possible for teachers to differentiate the content, process, and product for their students (Sousa & Tomlinson, 2011). The differentiation of content refers to the change that occurs in the material as it is being taught and learned by each individual student in the class. As example of this for this particular lesson would be if the classroom objective is for all students in the classroom to be able to identify the reasons why source documents influence our thinking and way of life. In order to accomplish this task, some students may choose to focus on the original writings of the day, while other may choose to use modern day media to illustrate a real life example that is relevant today. The differentiation process actually refers to the way in which each student in the class accesses the material. One study, for example, may explore various writings contained an in actual historical text, while others may choose to review video representations of the same material. This process continues with the differentiation of product, which most commonly refers to the way in which a student demonstrates what he or she has actuall y learned. For this unit, that will take place via the individual or group products that are presented at the conclusion of the lesson. One group or individual might choose to present a skit, for example, while other will choose to demonstrate their findings via a PowerPoint. When implementing the differentiated process, the sky is truly the limit. Conclusion As teachers decide to differentiate their lessons, they must take into account the readiness, interest, and learning profile of each individual student in the class. In this case, readiness most commonly ref

Reading journal Essay Example | Topics and Well Written Essays - 500 words - 2

Reading journal - Essay Example The government sees the covering of face using veil, mask, or any other such thing as a threat to national security. The author has raised two questions for this stance of French government. First question is that whether all French people wearing masks and helmets be punished or restricted the same way as in case of veils? Second question is that will the government force the Arab tourists to bare their faces? When these questions are there, why the government is creating such a fuss for a very less number of face covering women? The answers seem to be the cultural, historical, and political facts. In the French culture, conversations between strangers and eye contact hold a key place but Muslim women do not do this because of which the French values are at risk. Sartorial rejection of French values because of veils is another reason for the government to put a ban on face covering. The author sums up the article by stating the fact that France is a country where uncovered bodies, breasts, and buttocks are cheered and celebrated. Covering the face by veil does just opposite to that because of which the government cannot allow it in any case. The issues that the article summarized above raises for me or my classroom community are personal preference and culture. For example, if I am from a culture where covering the face is essential for a woman when she is in public, then what will I do when the government will not allow me to do so? Similarly, it can be my own choice to cover my face or not. Does not it go against the self-independence or self-freedom? Although such questions can rise in the mind of any person, but the issues associated with veils, such as, threat to security cannot be ignored. Female terrorists have been reported to be using veils and burkas while carrying out the terrorist attacks in different parts of the world. They can hide their identities using veils and can carry out any violent attempt on any one. This article by

Business Environment 2 Assignment Example | Topics and Well Written Essays - 1000 words

Business Environment 2 - Assignment Example Market structures, pricing and output decisions The key factors that influence British Airways pricing and output decisions include airport capacity, technology, fuel costs, costs of leasing or buying aircrafts and cost of labour. Accordingly, the route structure and distance of freight must be factored in the pricing decision. Network-Legacy Airlines use the Hub & Spoke model for the international flights, and long routes and mainly consider the number of passengers flying the route. For the domestic flights, British Airways flies directly to the destination airport and ensures a low-cost structure in the costing system (Stonehouse & Houston, 2013). The airline operates in a oligopoly market structure that is characterised by few large players that control the pricing decisions in the market. In this case, the airline must consider the strategic pricing decisions made by other competitor airlines. The airline industry in the UK is characterised by high barriers of both entry and exi t due to high capital outlay required to start operations and cumbersome regulatory environment. In addition, the dominant airlines enjoy considerable economies of scale of operations and price wars in order to attain high market share (Stonehouse & Houston, 2013). ... The company is agitating for the Open Skies policy that will enable its flights to access US airports and total liberalization of the aviation industry across the major markets. Market forces affecting British Airways Several market forces affect the operations of British Airways across the world. The pricing decisions are influenced by the supply and demand of air travel services in the particular geographical market. The airline has attained economies of scale in North American and European markets and thus has been able to implement a low-cost travel plan through its Iberia subsidiary. Accordingly, the industry is characterised by formation of strategic alliances and partnerships such as the SkyTeam and Star alliances that dominate the European market. The airline has entered in to partnerships with major sporting teams, logistic companies and hotels in order to provide full services to its customers. The company is currently increasing its presence in key international cities and building its leadership position in London. Accordingly, the airline has embarked on delivering differentiated services and attaining superior customer value for longhaul premium customers. The airline must improve its margins through creating new revenues streams in order to remain competitive (Stonehouse & Houston, 2013). Business and cultural environment of British Airways British Airways operations must comply with the business and cultural environment prevailing in the external market. The airline operates in stable political environment in the North American market and European countries. However, the current political turmoil in several Asian countries has hindered the operations of the airline in the affected countries thus leading to a decline

Port Management Essay Example | Topics and Well Written Essays - 2000 words

Port Management - Essay Example These include increased competition among ports, changes in transport technology and ports, and internal competition for global markets. Over the recent years, lending agencies and governments have come to agree on the view that the participation of the private sector can be a powerful tool for improving the performance of port assets. Many government officials and port managers believe that privatization is the only way in which the performance of public port organizations can be improved. This view emerges from the believe that some specific characteristics of the private sector are very critical in the achievement of the desired commercial success in ports. Currently, many ports have undergone reformations with an aim of reducing the role of government in port operations. In this case, the government is supposed to maintain the landlord function only. Port reform also enables a port to obtain financial autonomy and achieve increase productivity. The aim of this report is to analyz e the benefits and burdens of port reform with respect to existing forms of reform. The main objective of the report is to analyze the benefit offered by each form of port reform. Finally, the paper determines if the benefits of port reform overweigh its burdens. 2.0 Benefits of port reform 2.1 Forms of port reform strategy The overall benefit of port reform is improved operational and organizational performance. This can be achieved through the adoption of an appropriate form of port reform strategy. These forms include commercialization, privatization, corporation, liberalization or deregulation port services and modernization of Port Administration and management. These strategies present different benefits hence they are normally chosen depending on setting of the specific port. 2.1.1 Commercialization In commercialization, a public port is not changed into a private company. However, the port authorities apply accounting and management principles which are similar to those of p rivate companies. The main benefits that commercialization offers to a port is the attainment of increased accountability and autonomy in terms of decision-making and overall performance. This means that a port is free to adopt the characteristics and practices of private sector and the end results of such step improved efficiency and profitability. Commercialization as a reform strategy is characterized by decentralization of the decision-making process. This means the port management does not have to wait for a government dictate each and everything that happens in the port. Instead, they are able to make prompt decisions or change former decisions as dictated by circumstances. Decentralization also encourages specialization which is important in the delivery of quality services or leadership. Gos (1990) states that the involvement of government in port management complicates the hierarchy of its management hence commercialization as a port reform strategy therefore helps to relax this hierarchy. This enables the port management to exercise more control over, procurement and purchasing, budgeting, hiring and firing, maintenance strategies and

Definition Courage Essay Example for Free

Definition Courage Essay All of us trust the dictionary to give us the full understanding of a word we do not know. In this aspect, it is insufficient when it describes courage. While it defines physical courage, it omits inner courage which can be argued to be much more valuable to posses. Webster’s New World Dictionary describes courage as â€Å"an attitude of facing and dealing with anything recognized as dangerous, difficult or painful, instead of withdrawing from it†. Courage is not the ability to be brave or to laugh in the face of danger. Courage is not risking your life for justice. Courage is not a person who agrees to fight, but he who can stand up against it. Courage is not something you can define entirely, and therefore can vary between each person. It can be said that a little girl who ventures out on her bike for the first time displays as much courage as a man jumping into a lake to save a drowning woman, knowing he cannot swim. Courage is a state of mind that enables a person to overcome fear, pain, danger or hardship. Although different from one another, all aspects of courage involve taking risks. Physical courage is facing your fears of possible bodily harm. A fireman rushing into a burning building, a woman running across thin- ice to save a child that has just fallen through, an officer charging into a building to save a hostage. These are all examples of physical courage. Mental courage is standing up to your phobias. While some fear heights, I myself fear speaking in front of a large audience. A son who overcomes his fear of flying to be by his dying mothers side is mental courage that cannot be fully measured or explained. Mental courage is the ability to overcome tragedy and to move forward in the face of sheer defeat. Mental courage is a man finding out he has a brain tumor, and still cherishing and living life to the fullest. Mental courage is taking care of your brother and sister following the death of their parents. The word courage comes from the Latin word cor, meaning heart. It derives from the belief that all feelings begin in the heart. The definitions given to all of us do not suffice because they lack depth and clarity. Mental courage, while not mentioned, and not defined, is portrayed in all of us on a daily basis; and should be along-side physical courage in the references we rely on.

Public Relations Campaign American Girl Brand Essay Example for Free

Public Relations Campaign American Girl Brand Essay In a very competitive market, today most organizations are relying on public relations departments to create interest and manage the overall public perception. Publicity determines the people willingness to buy a product, invest in a company, and general interest of the association with the company in question mostly through employment. Companies use public relations to create publicity. The purpose of this paper is to explore ways in which America Girl can use PR to promote the new brand, Graceâ„ ¢ doll. American Girl brands are owned by Mattel, Inc that is registered on the NASDAQ stock exchange. The Mattel family specializes in design and production of toys and family products (Business Wire, 2015). The American Girl brand was introduced in 1986, and has been committed to products that suit girls aged 3 to 12 years such as movies, clothes, high-quality dolls, unforgettable experiences and high-quality dolls. The newest product of the American Girl is an 18-inch â€Å"doll† named Grace Thomas. She is a fanatic baker and also desires to start a baking business. She is motivated to pursue her entrepreneurial spirit. The â€Å"doll† has accessories, toys and outfits that reflect her interests including premium French Bakery set comprised of more than 60 pieces. Mattel Inc plans on producing product Grace Thomas doll for a period of one year, and the purpose of this paper is to create a publicity plan for the new product. Based on both demographic and psychographic information and factors such as age, gender and interests, the target audience for this campaign is g irls in the age group 3 to 12 years. The discussion in this paper focuses on reaching the target audience through the most effective means, which are screen media and social media. The target audience also has the influence on the family pocketbook and can influence the spending patterns of their families CITATION Cal08 l 1033 (Calvert, 2008). Goals                     To increase the number of American Girl Facebook followers from 947 likes to 2000 likes, targeting girls aged 3 to 12 within a period of three months To increase the number of American Girl Instagram followers from 830 followers to 2000 followers targeting the girls in the age 3 to 12 years within three months Objectives                     To increase the awareness of the Graceâ„ ¢ doll in the age group 3 to 12 years by 77% within a period of three months To increase the acceptance of the Graceâ„ ¢ by the adult population, especially parents, by 30 % within three months To motivate an action by the target audience specifically to try Graceâ„ ¢ and increase public interest by 25% within three months. The set goals and objectives can be achieved by integrating the services of traditional media. One of the most effective ways of achieving a successful campaign is through production of a pitch in a television show that promotes Graceâ„ ¢. In order to make the pitch successful, it has to be accompanied by a captivating and visually-oriented story. The story has to be pitched by a person who can effectively connect to the target audience. The pitch has to go suit the target audience’s needs, just like they way a TV producer can choose the programs that suit the target audience. The use of pitch can also be applied in the radio stations, where the radio host can help in reaching out to the target audience. Brochures, coupons, and Graceâ„ ¢ flyers are some of the traditional media that can be used in this campaign. The use of can also use direct mailing services to send promotional materials directly to the target audience. Summarily, public relation is a vital part of marketing. The goals and objectives set up in a PR campaign should be achievable. Since a public relations program is cheaper to ramp up than marketing, companies have shifted attention to public relations. A successful PR campaign needs to be unique, and entice the target audience. Traditional media can be integrated with a PR campaign to increase awareness of a product. References Business Wire. (2015). American Girl’s 2015 Girl of the Year â€Å"Bakes† a Difference and Helps Girls Find Their Own Recipe for Success. Retrieved from http://www.businesswire.com/multimedia/home/20150101005003/en/#.VOKyBCyAHK8 Calvert, S. L. (2008). Children as Consumers: Advertising and marketing. The future of children, 18(1), 205-234. Source document

The Graduate Cultural Significance

The Graduate Cultural Significance The Graduate is a 1960s American film based on the novel of the same name by Charles Webb. The film tells a story of a university graduate named Benjamin Braddock who did not have a clear idea about his future. The young man was seduced by an old woman, Mrs. Robinson, but he fell in love with her daughter Elaine in the end. The film reflects the confusion and helplessness of the American young people in the 1960s. The characteristics of the counterculture movements were also shown in the movie. Consequently, instead of just being a comedy, the graduate plays an essential role in reflecting and promoting the culture and ideology of the 1960s America. It shows more sympathy than satire to the young generation at that time. The film starts by showing Benjamins void, loneliness and helplessness, which can be clearly seen from his facial expression. The theme songsound of silence also expresses a stuck and hollow feeling, which actually is the keynote of the whole movie. There is a conversation between Ben and his father at the beginning of the movie, when Bens father ask him what he is worried about, Ben hesitantly answers he does not know and he just wants his future to be different. Being the keynote of the film, the hollow feeling lasts till the end of the movie. At the end of the movie, when Ben and Elaine escape from the church and sit in the bus, their facial expressions are actually very calm, which is quite different from their happiness and excitement when running away from the church. Although they have extricated themselves from the shackle of their family and made their own choices, they still do not know what to do next. This kind of hollow feeling shows exactly the ideology of the young peo ple living in the 1960s America. Unlike the older generations who had a strong idea of the America dream, young people in the 1960s did not experience the hardship caused by war and there was a generation gap between them and their parents. The older generation hoped the young people could cherish their peaceful life and continue to fight for the America dream, but the young generation did not understand why they need to do that and their dream of achieving social justice is slightly ideal. The difference in the sense of value between two generations is also shown in the film by the conversation between Ben and his father, which can further reflect the opposite attitude of the young people at that time towards the traditional sense of value. The two different values had conflicted with each other for several years, and in the late 1960s, there was a strong dissatisfaction of the current social situation and the sense of value of the middle class among the young people. With the outbreak of the Vietnam War, both the counterculture movement and anti-war movement reached the peak in around 1967, and The Graduate exactly shows the idea of counterculture of the young people at that time. Anti-war movement is an essential part of the 1960s American society. One scene in the film is that Ben tiredly sits in the campus of Berkeley when the national flag of America is waving high above his head. Berkeley is one of the most active campuses during the anti-war movement in the 1960s. It becomes world-famous for the Free Speech Movement in 1964 and the strike against the Vietnam War organized by the students at that time. The anti-war movement showed the young peoples sense of social responsibility and their desire for a peace world. The draft for a compulsory military service is one of the main reasons for all kinds of anti-war protests. Under the draft, lots of young people were sent to Vietnam and many of them died, which made their families suffer a lot. Hippie is another good illustration of the youth culture at that time. Hippies were against the mainstream and reacted to the difficult times by dropping out of the society. There is one scene in the film that shows the hippy culture. When Ben and Elaine are eating and talking in the car, there are some hippies playing rock music beside their car. However, instead of turning down the music as required by Ben, those hippies turn up the volume and keep playing the music. Their reaction shows the idea of counterculture and disapproval of the social mainstream. Being a symbol of the 1960s youth culture, hippies are remembered for their fancy clothes and deviant behavior like taking psychedelic drugs. Sexual revolution is a part of the counterculture movements in the 1960s and it is shown in the movie by Mrs. Robinsons seduction behavior. This new culture of free love encouraged millions of young people to accept the beauty of sex as a natural part of everyday life. Besides this reason, Bens relationship with Mrs. Robinson is partly due to another factor, which is his loneliness and helplessness. The 1960s is a crossroad in the whole American history. The Graduate is of great importance in recording that period of history, especially the behavior and thought of the young people at that time.

Factors that Affect Profitability Essay -- Business, Exporting, Forei

Procedures that you need to follow when exporting After establishing that South Korea is an economy with an increasingly more liberal economy, there are some problems for foreign direct investment, mainly through non-transparency and burdensome regulations (Heritage Foundation). In order to take it a step further and to perform a complete analysis of the business environment, it is necessary to compare the business procedures when doing business. As an industry, the imports of foreign goods procedure will be analyzed and contrasted with neighboring countries in order to have a complete snapshot of the business environment. Firstly, The country of interest: South Korea. In what the import of foreign goods is concerned, South Korea has a relatively quick and easy process. Importing procedures are estimated to take 7 days, (2 days for each: preparation of documents, port handling and inland handling and approximately 1 day for customs clearance). The cost of the procedures for the 7 days is estimated to be $790 (World Bank Doing Business, 2011). This information, at first glance seems positive. The procedures are fairly quick and the $790 cost is not an absurd amount of money paid in order to import goods. The bureaucracy is simple. The documents needed are: the bill of lading, customs import declaration and terminal handling receipts (World Bank Doing Business, 2011). Corruption Perception Index The latest corruption perception index by transparency international in 2008 includes five sets of data. These include: the 2008 Corruption Perception Index (CPI) score, the amount of surveys used, the standard deviation, the high low range and the confidence range. Before the analysis of the data, it is important to understand what ea... ...). The Heritage Foundation has ranked South Korea with a very low score of 55 out of 100, which might imply that corruption is widespread and there is still a long way to go to have a positive rating. (Heritage Foundation, 2011) 10) Labor Freedom Labor freedom has the lowest score of 46.5 out of 100. This shows that there are various problems regarding labor, a clear example is the very high cost of firing an employee whilst the non salary cost of employing a worker are moderate (Heritage, 2011). In conclusion, the overall freedom of the country is relatively positive. The ratings of the Heritage Foundation are fairly high, above the world average for the most part. Additionally, the government involvement in business is quite low compared to other countries and at least it is not widespread to a degree to which investors would be fearful to engage in business.

Ireland :: essays research papers

Why are the Irish so lucky? What is a leprechaun? Is there really gold at the end of a rainbow? And why does everyone drink green beer on St. Patrick's Day? These questions all have one thing in common, they are myths from the Emerald Isle we all call Ireland. In this paper I will try to explain these myths through Ireland's people, their Celtic tradition, and their religion. To understand the people of Ireland, you first need to understand where Ireland is and what it's like there. Ireland is an island, to the West of England. The climate in Ireland is rainy, year round. Ireland has a little bit of everything from the mountains and castles, to the coasts and pastures. People first came to Ireland about 10,000 years ago. Ireland was one of the last parts of Europe to become inhabited. The people who came to Ireland probably went across the land bridges that linked England to Scotland, and Scotland to Ireland. These first people lived mostly along the coasts of Ireland eating berries, small animals, and shell fish. Then about 6,000 years ago, these tribes of people started to become more advanced and civilized. They raised cattle and sheep and farmed the land for crops. They also moved further inland and had very extravagant burial grounds. Next around 2000 BC, the Bronze age came upon Ireland. The Irish people quickly became infamous for their weapons made of metal, especially their swords. This encouraged trade amongst other European countries, mainly England, Spain, and Portugal. By 500 BC the Celtic people had started to invade Ireland. The Celts as they were known were a very aggressive tribal group that originated as a Germanic tribe. They had defeated the Romans for a slight time period, but eventually they were run out of Europe. Their only safe haven was Ireland. For some reason, the Romans stopped their Empire at England. In Ireland, the Celtic people easily over threw the simple Irish tribes. This happened for two main reasons, 1) The Celts were much better fighters, and 2) There was about five times as many Celts as there were Irish tribes men. The Celts were not just great fighters though, Roman writers described them as being 'lively, imaginative people fond of fighting and hunting as well as poetry and storytelling. They had a complex tribal community made up of chieftains, warriors, poets, and Druids, (the priests of their mystical

Autism Essay -- Chromosome Disorders

What is autism? "Autism is a potentially severe neurological condition affecting social functioning, communication skills, reasoning, and behavior. It is considered a "spectrum disorder," meaning that the symptoms and characteristics of autism can present themselves in a variety of combinations, ranging from extremely mild to quite severe" (Fergus 2002 para.1). Autism was first reported in 1943 by a Dr. Leo Kanner of John Hopkins University. Dr Leo Kanner based his theory on 11 children who showed signs of withdrawal from human contact, this started at age 1 between the years of 1938 to 1943. In the 1940’s, the research of autism was so rare and this was a new case, Dr. Leo Kanner based the disability to be schizophrenia which in the eyes of the parents they thought they were at fault. In the 60’s, that is when the knowledge of autism and the treatments came clear. (Edelson Para. 8) Having the basic history of autism will let people understand where and how Dr. Leo Kan ner had come across the disability. Some people have never heard about autism and the treatments that go into helping someone with autism. The three main points that will be discussed are treatment, prognosis, and the quality of life. Having a child with autism can make life difficult but with therapy and treatment children with autism can grow to be what society calls normal. With a child who has been diagnosed as autistic, this starts the wheels turning of what is to do next. The diagnosis of autism is based on I.Q. tests and observations; this will introduce what needs that the child may have. As physicians observe children with autism and evaluate how severe each child may be. Depending on the severity of the children depends on the course of treatment th... ...riskfactors Autism Research Institute. (2008). What is autism? Retrieved August 29, 2008, from Autism Research Institute: http://www.autism.com/autism/index.htm -Autism Society of America. (n.d.). Unique needs and abilities. Retrieved August 29, 2008, from Autism Society of America: http://www.autism-society.org/site/PageServer?pagename=life_edu_unique Autism Spectrum Disorder program. (2000) Wichita State University. Retrieved from September 20, 2008, from http://webs.wichita.edu/?u=vbain&p=/AutismSpectrumClinic/ Pediatrics (Oct 2005): 54(10). General OneFile. Gale. Apollo Library. R etrieved from September 20, 2008 from . American health line. (2007). Pediatrics: Reports on Autism. Retrieved on September 20, 2008 from University of Phoenix Library. Lee LC (2007) Quality of life. Retrieved from September 20, 2008 from http://www.ncbi.nlm.nih.gov/sites/entrez

Project Charter for Payroll System Essay

1Project Background 1.1Problem/Opportunity Description The following problems or opportunities listed below are organizational problems that the proponents discovered after analyzing the process of not having a system for employee’s payroll: Manual Payroll can’t handle large numbers of employees; Multiple works and positions of an employee makes the payroll more complicated; Searching of data (Data Mining) when particular data is needed due to an urgent matter can be very hard for both employees and owner of the business firm; Difficulty in managing and recording of information on work schedule, hours worked units of pay, deductions and leave of absences, distribution of exact amount of wages and salaries in manual payroll that causes delay and sometimes insufficiency in amount of compensation given to employees during payday; And lastly, not all Payroll System are generic. 1.2Benefits One of the most important tasks in running a business is completing payroll. The following shows the prospect hospital benefits in having Payroll System and proponents benefits as well: A fair, on-time, and consistent distribution of income or organization; Accurate recording of time and attendance, information on work schedule, hours worked, units of pay, deductions and leave of absences in the system; Manageability in employee’s work units so that exact amount of wages, salaries, and other bonuses will be financially given on payday; Calculate benefits, taxes and dependencies of the employee; Payroll System that can be used by any hospitals; 1.3Goals Goals are the purpose and direction to the project. The proponent’s goals in Payroll System are the following: Create a system that can cater large number of employees’ payroll; A system that may allow the possibility of having employee’s multiple work units; A system that can accurately record time and attendance, information on work schedule, hours worked, units of pay, deductions and leave of absences in the system; A system that can ensure the exact amount of wages, salaries and bonuses that will be given to employees on payday; A system that is generic and can be used to any company or establishment’s payroll; And lastly, to provide a Payroll System that will be as functional as the other Payroll Systems. 1.4Stakeholders and Clients The stakeholders and clients who will be involved and support this project are as follows: Companies who do not have and would like to have a system for the payroll The proponents who will develop the payroll system The project adviser who requires the proponents to have the payroll system as their project The Project Evaluation Committee (PEC) who will give advices and guide the proponents before the development of the project 2Project Scope 2.1Objectives The objectives of the development team on creating the payroll system are the following: To create a system that can manage data of employees and have a solution in creating their salaries without interrupting the process of the other systems; A system that can provide a flexible system that can easily modify a response to any altered circumstances or conditions; A system that can ensure the safety of data from other possible circumstances that may result to corruption and loss of data; A system that have a user-friendly interfaced so that the user who will administer and use the system will not have a hard time; A system that can generate analytical reports at any time; A system that can calculate accurately the benefits, taxes and dependencies of employees; A system that is generic and can be applied or used to any hospitals; A system that attain the same quality and functionality with other payroll system; And lastly, a system that is accessible and well-integrated to other hospital modules. 2.2Deliverables A deliverable is any tangible, measurable outcome of a project. The following tables consists specific end results, products, or outputs of the project for each objectives: Objective 1 – To provide a system that can manage data of employees and have a solution in creating their salaries without interrupting the process of the other systems. Project Deliverable Work Products/Description Manage data of employees Create a system that will ensure the management of employee’s data Ensure that the computation of salaries will be accurate and will not affect or interrupt other related processes in the system Create a database and specialized table that will generate an accurate computation of employee’s salaries Objective 2 – A system that can provide a flexible system that can easily modify a response to any altered circumstances or conditions. Project Deliverable Work Products/Description Provide a system that can modify a response to any possible circumstances, conditions, or situations that may occur in future Consider situations and possibilities to the risks that may be encountered on payroll and create a risk management solution. Objective 3 – A system that can ensure the safety of data from other possible circumstances that may result to corruption and loss of data. Project Deliverable Work Products/Description Ensure data security Provide a secured database. Back-up and archive all the transactions and reports every day. Provide trusted and effective anti-virus software to avoid corruption or immediate loss of files. Objective 4 – A system that have a user-friendly interfaced so that the user who will administer and use the system will not have a hard time Project Deliverable Work Products/Description Create a user-friendly interfaced system Apply the standards and guidelines in choosing template for the system. Use a user-friendly template for system’s interfaced so that anyone who will use it will not have a hard time. Objective 5 – A system that can generate analytical reports at any time Project Deliverable Work Products/Description Generate analytical reports Include analytical reports that can be generated anytime. Objective 6 – A system that can calculate accurately the benefits, taxes and dependencies of employees Project Deliverable Work Products/Description Calculate benefits, taxes and dependencies of employees Ensure the correct amount of benefits, taxes and dependencies Review every deductions that may happen to the salary of employees Objective 7 – A system that is generic and can be applied or used to any hospitals Project Deliverable Work Products/Description Generic Payroll System Know the different payroll processes in different type of company/establishment and apply the rules in developing the system. Objective 8 – A system that attain the same quality and functionality with other payroll system Project Deliverable Work Products/Description Same quality and functional payroll system Conduct a research about payroll system. Schedule and make an interview with hospitals who has a payroll system. Analyze and combine all the information gathered about the payroll system and create a guidelines that will be used system‘s development. Objective 9 – A system that is accessible and well-integrated to other hospital modules Project Deliverable Work Products/Description Follow database standards Follow the standards implemented to avoid problems in integration and to attain the expected output for the system. Create a flexible payroll system that can be integrated to other related systems Ensure that the processes were correct so there will be no problem when integration was applied. 2.3Out of Scope The items listed below may be related but will not be managed as part of the project. This critical important section of project, allows the proponents to defend scope throughout the course of the work, by declining requests to work on items that are clearly defined as out of scope. Items are as follows: Employee trainings Professional Fee 3Project Plan 3.1Approach and Methodology The methods and approaches of the development team to finish the project are classified into three: Data Gathering Process: The proponents will conduct an interview from different hospitals and other companies that can help to the system development Study and research (using Internet) are also essential to gather information about the system Development: The proponents will be using Software Development Life Cycle (SDLC) particularly Waterfall method for the development of the system The system will be built from scratch that will include open source software for the front end and proprietary software for the database. Testing: Create a test plan and test cases to follow the expected and actual results of the system. The development team will also interact to other systems integrated on the system. 3.2Project Timeline The table below shows the project timeline of Payroll System: 3.3Success Criteria The project milestones of this project are the things that must be achieved by the developers to meet their goals and these are the following: Payroll System is fully functional Required reports can be generated All the requirement has been followed Payroll system has become more accessible and conforms on the quality assurance standards Payroll System is well integrated to other Hospital modules in Hospital EIS Generic Payroll System 3.4Issues and Policy Implications The proponents do brainstorming and come up to some dependencies that may affect the process of the system. These are: Human Errors – Wrong input on data in the system Unexpected errors that may cause delays in recording of data Unexpected natural disaster that may cause loss of data Unwanted virus that may corrupt the system 3.5Risk Management Plan There are the factors that can affect the outcome of the project including major dependencies on other events or actions. These factors can affect deliverables, success, and completion of the project. The proponents think actions to some factors that may affect the whole process of Payroll System. The likelihood of each risk are indicated in the Probability and Impact on the project and rated as H (high), M (medium), L (low). 3.6Service Transition (Optional) If the project will change or otherwise impact a previously defined ITS service, here are the proponent’s plan for transitioning project deliverables into service operations. Service transition includes activities such as: Have a system support center to fix problems that may occur while using the system If the support center will have any changes in their management, dissemination of information will be immediately sent through e-mail or phone calls. The implementation will occur only after both parties will approve on the changes. The programmer and other staff who is responsible for the system support may be the one to respond for the system’s problem 3.7Option Analysis We can’t say that the success criteria of the proposed system were a success; here are some options that will help if the process of development has been interrupted: If the interview was not enough, the proponents will ask some IT alumni (who already developed Payroll System) to gather more essential information that the proponents missed during the interview; The proponents decided to conduct another interview to other Hospitals; They will ask programmers who are familiar to the system; If the Production cost was not enough to develop the system, they will ask supports from the IT alumni; If the proponents don’t have a machine (laptop) to develop and create the system, they will rent a laptop or else, if they don’t have a choice, a desktop may do. 4Technical Features This section provides a detailed description of technical requirements stated in terms suitable to form the basis for the actual design development and production processes of the project having the qualities specified in the operational characteristics. Hardware Specifications Hardware Specification Processor Min. requirement of 2.6 GHz and recommended requirements is 3.3 GHz or higher Memory Min. requirement of 1 to 2 GB and recommended requirement is 2 GB or higher Hard Drive Min. requirement of 80 to 250 GB and recommended requirement is 500 GB or higher Servers Dedicated to run one or more services Software Specifications Software Specification Use Windows 7 Operating System For the environment oor platform to be used Java Programming Language For the development of the system MsSQL Database For the storage of records 5Project Organization and Staffing The template provided below includes an organization chart, or both, list of the roles, names, and responsibilities of individuals that will be involved in the project. Role Names & Contact information Responsibilities Executive Sponsor Serve as ultimate authority / responsibility for the project Provide strategic direction and guidance Approve changes to scope Identify and secure funding Project Sponsor

Howard Schultz Essay

I. Introduction Starbucks today is astray recognized as the megabrand for chocolate berry, and there all(a) the way are no make full competitors that let its world-wide recognition and scope. Starbucks has gr give birth to prosecute over 160,000 people and generates just about 13.6 one thousand thousand dollars per year (Forbes). Much of Starbucks succeeder is attrisolelyed to a man with a sportsman wish well vision and drive Howard Schultz. Howard Schultzs sexual love for give birthing reference umber along with a positive caf subsist has given him the motivational determination to demonstrate exceptional leading traits. This paper result give a brief overview of the hi fib of Starbucks, and leave alone so investigate the changes that were made after Schultz stepped in. Further more than, problems that Schultz encountered by means ofout his succession as chief executive officer will also be discussed, along with the get wind steps he in any casek to bring S tarbucks keep going on to a road of recovery. As a concluding remark, Schultzs leading style and abilities will be canvass in terms of effectiveness.II. A design History of StarbucksLooking at the Starbucks p maneuvernership today, it is difficult to imagine that a confederation that has over twenty thousand locations in sixty-one countries (Starbucks) was once a one small retailer that had but common chord employees. In 1971, three academics, Jerry Baldwin, Zev Siegel, and Gordon Bowker, open(a) a small store at Pikes take Market based on their collective love for fine java-making. Baldwin, Siegel, and Bowkers sign goals were to expose Seattle to bring a small cocoa culture that existed in the San Francisco mouth Area. The three looked to Alfred Peet, an expert coffee roaster from Berkeley, CA, who taught them the art of dark-coffee roasting. Baldwin, Seagel, and Bowker took on that knowledge to produce their admit roasts and blends that were then distributed in their stores.Ten age later, Howard Schultz, then the vice president and frequent manager for a Swedish kitchen and housewares, visited Starbucks to consider why they were placing such large orders for a particular coffee maker. Schultz was immediately catch by the aromas and quality of coffee that was offered by the store. He, gained as much insight as possible from Baldwin and Bowker about the entire coffee production process, and later convinced them to uniting their group.It was non until Schultz took a trip to Italy, when he began to envision a fresh Starbucks. Schultz visited legion(predicate) espresso bars and was exposed to a new culture of coffee drinking that we wanted to bring to the United States. Upon his return, Schultz did all he could to convince the managers at Starbucks to get a full espresso bar and begin help lattes and drinks at Starbucks. Due to m any disagreements with the managers on the values and culture that Starbucks should digest, Schultz mad a conclusion to leave and climb up his own caf Il Giornale. With this venture, Schultz had the executive freedom to pull in a culture that he turbulently envisioned. Schultzs business plan was widely successful, and within two years, he opened up three cafes that generated 1.5 million dollars annually (McGrawhill). With his success, Schultz acquired Starbucks to gain wider reach and growth.III. New duration for Starbucks and Problems Arising Now as the new CEO of Starbucks, Schultz set about many difficulties and challenges. The biggest problem that Schultz confront was making sure that Starbucks retained its spirit in spite of growing into a large corporation. The biggest issues that played into Starbucks maintaining its soul was hiring the right-hand(a) managers and executives on his team, having consistent quality products and in-store take for all Starbucks stores, and lastly- establishing a positive friendship culture for both the employees and nodes. At the start of his parcel outer as the CEO for Starbucks, Schultz was face with many obstacles to over summon. The first issue he tackled was getting the right people on his team. Lack of a Strong upshot Executive TeamWith nine stores open, Schultz motto that Starbucks lacked professional care skills to control all the processes to grow to his plan of adding 125 stores in the next five years McGrawHill. He made sure to add A players to his team roasters and caf owners with decades of experience, a president of a profitable beverage company, and a chief financial officer with eighteen years of management consulting experience at Deloitte and Touche. Schultz was able to rede the acquire to recruit fuddled players with a lap of experience in the coffee and management industry. Early on, Schultz addressed the lack of arrangement management that was crucial for Starbucks to accelerate forward. Employee devotion and CommitmentAnother problem that Schultz faced was the issue of building a str ong ticker of employees passim the company. Schultz found that as the company grew, it lacked strong dedication from its employees. Starbucks had a high turnover rate, just like many other entry-level service jobs at McDonalds or retail stores. Schultz aphorism this as a huge problem for not only the money Starbucks lost through losing an employee and having to pay more to hire and organize new ones, but also losing team members. Schultz wanted to create an environment for Starbucks employees in which they would want to stay in. Schultz had difficulties convincing Starbucks Board of Directors to invest in immutable reproduction, higher salaries, and rewards based on merit.He even went far enough for wanting(p) baristas to become invested in building Starbucks into a great company, and thus offered them stock options. The biggest execution step he took to really turn out that he wanted to show that Starbucks had a heart and soul for their employees was fighting for providi ng health care coverage to all its employees. Schultzs aim recently battled cancer, and he knew that it would not only add tremendous value to the lives of Starbucks employees, but also allow them to have an motivator to stay. Through a particular story about the impact that Starbucks was having on its employees lives, I learned that Schultz had high delirious wisdom and the ability to put himself in others shoes. Schultz recalled,I had known Jim was gay but had no idea he was sick. His disease had entered a new phase, he explained that he wouldnt be able to work any longer. We sat together and cried, for I could not find meaningful words to encourage him I could not compose myself. I hugged him. McGrawhillSchultz built his career from the bottom up from nothing, and his ability to demonstrate sympathy to others understandably showed great loss lead skills. Having adept emotional skills is incredibly valuable for a leader because it gains the trust and approval of many people . Maintaining reproducible Product Quality and Customer go outThe last problem that will be discussed in this paper is how Schultz check intod product quality and positive store experience throughout all the Starbucks locations. Schultz could not empha size of it enough how important it was to maintain the integrity of the coffee bean and the quality of the coffee throughout the stores. In order to do so, he made strict guidelines on preserving the heart of Starbucks history getting good coffee to all customers. Starbucks had the option of chemically seasoning the beans, but Schultz made the executive decision to never add any chemicals to their core products. If customers wanted flavoring in their coffee, the bug of additional flavoring could not come from the bean, but rather from a sirup mixed into the coffee. Another example is that he stressed the exact temperature that the milk for lattes required to be heated to, the amount of time coffee can sit in a pot, and ceaseles sly compensating dissatisfied customers with a free drink. Schultzs stringent standards on awarding consistent experiences also let him to scrapping a popular breakfast sandwich because it interfered with the coffee aroma in the Starbucks stores.III. Schultzs lead Style Without Schultz trailblazing leadership styles, Starbucks would not have nearly achieved the success that it has today. The passion that Schultz exudes in terms of implementing the true Italian coffee house experience on an international scale has definitely shown through in his time as CEO. Schultzs leadership style shows a commitment to retentiveness soul despite the large size of the company. Schultzs standards for quality have never been compromised, and he continually makes the effort to ensure that his entire company is on jury with delivering his goals. Aside from delivering quality to customers, Schultzs leadership style also emphasizes treating all of his employees with approve and individuality. He guarantees that when working at Starbucks, an employee will be treated with fairness and dignity. Schultz more than anything emphasizes improving quality in terms of any experiences for whoever comes in contact with the Starbucks name. IV. thought process on Leadership Style and takeawaySchultzs strong vision and penetrating awareness for what the Starbucks brand was very weighty when he came back to Starbucks after stepping down. Schultz saw many problems, such as too many stores and below-par customer service. Schultz made a very bold move to close down Starbucks stores for three hours for mandatory training that cost the company millions of dollars. Schultz also unappealing down many locations. Schultz is very skilful when it comes to giving a positive customer experience, and drives his motivation and actions off of that. I deal that Schultzs ability to isolate and deliver the needs of Starbucks customers is his strong point. He has always been convincing Starbucks partner s and board of directors to also see his standards for quality and having Starbucks retain its soul. His leadership style has definitely proved to be effective in building Starbucks into the titan of a company that it is today.Personally, I accept to be as passionate about delivering something to consumers when I take on a leadership position. To be cognizant of what merely needs to get done to deliver a quality experience without losing taper is an important trait that can be learned through Howard Schultzs leadership style.

Only the Strong Survive

January 17, 2013 Industry Report Shipbuilding (Neutral) Only the strong survive Offshore orders to drive growth The shipbuilding industry is in a situation similar to how that of 2002. In 2013, plunging order volume and weak new building prices are fueling intensifying competition. In 2002, shipbuilding shares rose because of an increase in orders, but then quickly fell on concerns over weak new building prices, which caused earnings to stagnate. For a period in 2002, shipbuilders went into red.Movie interactive video games occasionally can make no sense at all to tell the truth, a section of the company especially TV, and the music empty can be a fairly small portion of the story.Daewoo Securities Co. , Ltd. Ki-jong Sung +822-768-3263 kijong. [email  protected] com Ryan Kang +822-768-3065 ryan.Youre in need of a leader of culture if youre new beginning an agency.

Although shipbuilding shares currently trade at a P/B of 1. 0x, we believe they have the potential trade at a P/B of 1. 2x.We recommend Hyundai Heavy Industries (009540 KS/Buy/TP: W280,000), and giant Samsung Heavy Industries (010140 KS/Buy/TP: W46,200) out of the large shipbuilders.Respect and seeing possible is.share price of major shipbuilders (R) (1/31/2005=100) 1,000 6,000 800 600 2,000 400 -2,000 200 -6,000 05 06 07 08 09 10 11 12 13F 13 14 14F 0 Source: KDB Daewoo Securities Research Analysts who prepared this report are registered as research analysts in Korea but not in any other jurisdiction, including the U. S. January 17, 2013 Shipbuilding Figure 1. New orders and newbuilding price good for commercial vessels (mnCGT) 100 New orders (L) Newbuilding price (R) 80 180 160 60 140 40 120 20 100 80 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 14F (1988=100) 200 Source: Clarkson, KDB Daewoo Securities Research Figure 2.You should have a feeling of self pride.

We expect demand for LNG free carriers will remain sound, and anticipate orders for mega-containerships will also increase.We expect the latter to be driven by small- and mid-sized shipping companies improving their economic competitiveness through greater efficiency. We also expect shipbuilders will be forced to take new orders at lower-than-normal prices because of the dearth of order backlogs for commercial vessels. We forecast the number of bids and orders for large offshore-plant construction projects to increase for each company in 2013.Let your much joy scream.We believe share prices will improve (despite concerns about lower-priced orders) thanks to increasing orders, and improved cashflow. Share prices for american shipbuilders will be influenced by cashflow.Despite intensifying market competition, we anticipate Hyundai Mipo Dockyard will take an increasing amount of orders, even though some will be lower-priced. 3.Many people think tattoos for men will need to be fero cious and tough.

We expect these trends will continue in 2013. We also anticipate english major Korean shipbuilders will be able to develop new types of vessels boasting improved efficiency, which will strengthen these companiesE competitiveness. Risk factors Earnings at shipbuilders will not recover easily, due to orders at lower-than-normal prices and won appreciation. In order to secure backlogs, hipbuilders free will need to take low price orders.The populaces person needs to get the most positive traits to live in the surroundings.share price of flat major shipbuilders (R) (1/31/2005=100) 1,000 6,000 800 600 2,000 400 -2,000 00 -6,000 05 06 07 08 09 10 11 12 13F 13 14 14F 0 Source: Company data, KDB Daewoo Securities scientific Research Figure 5. Korean and Chinese shipbuildersE restructuring (No. of shipuilders) 200 Korea China 160 197 120 -88. 3% 80 40 24 23 -66.The intention isnt to humiliate or belittle anyone.

In addition, the ROE of shipbuildersE is projected to improve to 19%. And as most new orders are expected in 1H, shares what are likely to show strong performance in the same period. The relative share performance of global shipbuilders has changed. Thanks to the rising proportion of offshore orders, Korean shipbuilders and Hyundai Mipo Dockyard are now grouped together with Keppl Corp.Theres a good deal of variety, to simulate real social life conditions.Although we believe the shares have bottomed, we do not expect a long term recovery until new building prices rebound in earnest. We suggest accumulating the shares near a P/B of 1. 0x. Shipbuilding shares will likely begin to recover full-swing from 2014, when the market starts to turnaround, along with increased orders for commercial vessels, improved cashflow, and earnings recovery.Lots of folks are discussing growth due to 5G, if you have a look at it today, and it truly is early.

0x 30 20 30 1. 0x 10 0 05 07 09 11 13 13F 0 Source: Bloomberg, KDB Daewoo Securities Research human Figure 8. Relative share performances of major shipbuilders (-1Y=100) 150 140 130 120 110 100 90 80 70 60 1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12 1/13 HHI DSME HMD Guangzhou new Shipyard Keppel Corp. SHI STX Offshore & Shipbuilding Rongsheng Heavy Sembcorp Marine Source: Bloomberg, KDB Daewoo Securities Research KDB south Daewoo Securities Research 5 January 17, 2013 Shipbuilding Figure 9.Then will humanity be changed at the Kingdom of Gods region.0x 2. 5x 2. 0x 1. 5x 1.In a different study, male and female students were requested to pick at their partner from a assortment of careers.

0x 4. 0x central Figure 14. Hyundai Mipo DockyardEs P/B trend (Market cap,Wbn) 10,000 2. 5x 8,000 1.They find it extremely hard to forgive an event.5x 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 13F Source: KDB Daewoo Securities ResearchSource: KDB Daewoo Securities Research KDB Daewoo Securities Research 6 January 17, 2013 Shipbuilding Figure 15. Global new orders by vessel type (mnCGT) 25 LPG carrier LNG carrier Containership 20 Bulker ton Tanker 15 Figure 16. Newbuilding prices by vessel type (US$000/TEU) 30 Containership (L) Tanker (R) Gas carrier (R) Bulker (R) (US$000/DWT) 3 20 2 10 10 5 1 0 03 04 05 06 07 08 09 10 11 12 0 04 05 06 07 08 09 10 11 12F 12 13F 13 0 Source: Clarkson, KDB Daewoo Securities Research Source: Clarkson, KDB Daewoo Securities Research Figure 17. ROE-P/B comparison (P/B ,x) 3.Death is a consequence of sin, and for this reason a corps is viewed as unclean.

0 0 5 10 15 20 HMD S HI 15 Keppel 10 S HI Sumitomo Sembcorp HHI 5 (EPS growth, %) 0 -40 -30 -20 -10 0 10 20 30 40 Source: Bloomberg, KDB Daewoo Securities Research Source: Bloomberg, KDB Daewoo Securities Research Figure 19. Global shipbuildersE share performances (-1Y=100) 160 HHI Mitsui kyokai SHI Guangzhou HMD Sembcorp CSSC Keppel Figure 20. KOSPI and shipbuilding stock index (index) 8,000 Shipbuilding stock high index KOSPI 140 6,000 120 4,000 100 2,000 80 60 1/12 3/12 5/12 7/12 9/12 11/12 1/13 05 06 07 08 09 10 11 12 Source: Thomson Reuters, KDB Daewoo Securities Research Source: KDB Daewoo Securities Research KDB Daewoo Securities Research 7 January 17, 2013 Shipbuilding Hyundai Heavy Industries (009540 KS) best Buy (Maintain) Target Price (12M, W) 280,000 Share Price (01/16/13, W) 227,500 Expected Return (%) 23. 1 EPS Growth (13F, %) 17.Its never simple to turn down.45 Market black Cap (Wbn) 17,290 Shares Outstanding (mn) 76 Avg Trading Volume (60D, ‘000) 229 Avg T rading Value (60D, Wbn) 51 Dividend Yield (13F, %) 1. Free Float (%) 59. 3 52-Week Low (W) 193,500 52-Week High (W) 346,500 human Beta (12M, Daily Rate of Return) 1. 46 Price Return Volatility (12M Daily, %, SD) 2.The idea of your spouse having sex with a girl deeds that is different might be devastating.

36%) NPS (5. 08%) Price Performance (%) 1M 6M 12M Absolute -1. 7 -3. 8 -20.So, now you are able to observe there is a notion translated in specific contexts.7bn and revenues of W26. 9tr (non-consolidated) in 2013 Implemented a self-rescue plan for the first time in 40 years. Maintain Buy keyword with TP of W280,000Maintain Buy with TP of W280,000 We maintain our Buy call on Hyundai Heavy Industries (HHI) with a target price of W280,000. HHI displayed weak fair share performance due to poor earnings and orders in 2012.0x, the lowest levels in the companyEs peer group.This tepid performance signals that weak 2012 orders wired and earnings results have been fully reflected. However, HHI has strong investment merits in 2013, as it is projected to win massive orders. Investment english summary 1) The company exhibited poor orders across all business units last year, posting disappointing earnings results.

5bn) and the Brass LNG project (US$3. 5bn) in 1Q. In addition, HHI is expected to bid for additional projects worth US$1-4bn; indeed, we believe the company will be aggressive in its order-taking efforts. 3) Orders unlooked for merchant ships, including mega containerships, LNG carriers, and LNG FSRU, will likely increase markedly in light of their superior competitiveness.Share price 130 120 110 100 90 80 70 60 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue (Wbn) 37,342 53,712 54,741 58,433 63,025 OP OP Margin (Wbn) (%) 5,532 14. 8 4,536 8. 4 2,485 4. 5 3,331 5.7 7. 6 22,750 3,469 -2,260 10. 2 10. 6 26,750 4,320 2,005 11.5 1. 3 1. 1 1. 0 0.

2 5. 2 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates korean Daewoo Securities Research 8 January 17, 2013 Shipbuilding Hyundai Heavy Industries (009540 KS/Buy/TP: W280,000) Comprehensive Income Statement (Summarized) Wbn) Revenues Cost of Sales late Gross Profit SG Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain from Inv in Associates Pretax gross Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit Controlling Interests Non-Controlling Interests Total Comprehensive net Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating Profit Margin (%) Net Profit Margin (%) 12/11 53,712 46,784 6,927 2,392 4,536 4,536 -659 52 -148 3,876 1,133 2,743 0 2,743 2,559 184 2,617 2,498 118 5,473 -504 10. 8. 4 4.4 5. 7 3. 5 12/14F 63,025 56,408 6,618 2,836 3,782 3,782 -338 188 -150 3,444 895 2,549 0 2,549 2,449 100 2,288 2,178 110 4,768 2,297 7. 6 6.5 7. 1 5. 6 6. 8 5.0 0. 9 5. 3 8. 5 6.

1 10. 0 1. 6 0. 0 1.7. 9 -13. 5 -36. 6 24.0 13. 5 -38. 4 -32. 4 17.1 6. 1 9. 3 8. 2 8.

7 5. 8 5. 7 3. 7 4.1 12. 2 17. 3 7. 8 10.0 134. 5 90. 5 110. 6 118.1 22. 7 15. 7 6. 0 7.

1 P/E (13F, x) 9. Market P/E (13F, x) 9. 0 KOSPI 1,977. 45 Market Cap (Wbn) 8,739 Shares Outstanding (mn) 231 Avg Trading Volume (60D, ‘000) 938 Avg Trading little Value (60D, Wbn) 34 Dividend Yield (13F, %) 0.0 Major Shareholder(s) Samsung Electronics et al. (24. 42%) Treasury shares (6. 13%) Mirae Asset Global Investment (5.8 -4. 5 6. 0 Reliable again in 2013 ? ? ? 2013 orders and revenues forecast at US$14. 2bn and W14.We expect SHI to win massive orders of US$14. 2bn despite the slump in the global shipbuilding market, driven by the robust offshore plant market and the companyEs superior competitiveness.SHIEs shares are trading at a 2013F P/E of 9. 4x logical and a P/B of 1.

As such, the company has solid earnings relative to its competitors. 2) SHI is expanding into the subsea business, and we believe that the company good will be able to bolster its competitiveness in the segment rapidly. ) The commercial vessel unit, which exhibited a tepid performance last year, is likely to recover in 2013 thanks to: 1) rising mega containership orders and 2) steady orders for LNG carriers and LNG FSRU. 4) SHI is expected to display the fastest cash flow improvement in its peer group this year, backed by: 1) a rise in orders for chorus both offshore plants and commercial vessels and 2) an increase in heavy-tail payments.7 851 1,226 8. 2 929 1,198 8. 0 934 1,355 8. 6 1,015 EPS EBITDA FCF ROE (Won) (Wbn) (Wbn) (%) 4,330 1,504 598 28.9 P/E (x) 9. 5 7. 6 9. 6 9.5 1. 3 1. 1 EV/EBITDA (x) 8. 2 5.

9 8. 7 6. 4 12/12F 14,875 12,867 2,008 766 1,242 1,226 -30 -34 0 1,196 267 929 0 929 929 0 920 920 0 1,551 282 10. 4 8.2 12/14F 15,751 13,594 2,158 803 1,355 1,355 -19 -51 0 1,336 321 1,015 0 1,015 1,015 0 1,006 1,006 0 1,667 978 10. 6 8. 6 6. 5 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets Total other Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests Capital live Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 9,617 806 4,132 540 1,905 6,797 0 5,408 86 16,414 10,539 4,425 3,232 2,883 1,231 1,004 88 11,770 4,644 1,155 423 3,610 0 4,644 12/12F 9,112 1,115 3,793 550 1,711 6,316 5 5,434 38 15,428 7,758 3,882 1,570 2,306 2,213 1,881 138 9,971 5,457 1,155 423 4,430 0 5,457 12/13F 9,229 1,264 3,820 554 1,648 6,372 5 5,506 21 15,601 7,301 3,910 1,070 2,322 1,918 1,481 188 9,219 6,382 1,155 423 5,364 0 6,382 12/14F 9,720 1,445 4,017 583 1,733 6,439 5 5,573 13 16,159 7,223 4,111 670 2,442 1,656 1,081 271 8,878 7,280 1,155 423 6,272 0 7,281 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and Expense Depreciation Amortization Others visible Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income general Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets several Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others Increase (Decrease) in Cash Beginning Balance Ending Balance 12/11 1,341 1,150 189 294 78 75 549 1,284 150 164 -548 332 -242 -1 309 265 -1,306 -1,090 1 -108 - 109 359 447 806 12/12F 351 1,131 558 297 11 -268 -1,061 34 39 -541 -276 -274 -368 -1 3 92 240 416 1 -108 -68 309 806 1,115 12/13F 1,376 934 580 299 17 -50 130 -27 -4 27 -268 -310 -370 -1 0 61 -917 -900 0 -108 -17 149 1,115 1,264 12/14F 1,408 1,015 651 302 10 -50 62 -197 -29 201 -321 -307 -370 -1 0 64 -921 -800 0 -108 -13 181 1,264 1,445 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit Growth (%) EPS rapid Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity Ratio (%) Current same Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 7.7 1. 8 1. 9 -3. 3 -19.2 4. 8 19. 4 15. 5 253.

6 7. 2 1. 5 6. 1 4,021 5,358 26,307 0 0.7 9. 1 3. 8 27. 3 3.7 117. 5 7. 2 57. 9 12/13F 9.6 0. 0 0. 7 -2. 4 -2.

0 6. 0 15. 8 16. 9 144.6 6. 6 1. 1 4. 5 4,396 5,747 34,309 0 0.0 8. 7 4. 1 27. 7 4.9 134. 6 -22. 5 106. 2 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 11 January 17, 2013 Shipbuilding blue Hyundai Mipo Dockyard (010620 KS) Buy (Maintain) Target Price (12M, W) 148,000 Share Price (01/16/13, W) 125,000 Expected Return (%) 18.

0 KOSPI 1,977. 5 Market Cap (Wbn) 2,500 new Shares Outstanding (mn) 20 Avg Trading Volume (60D, ‘000) 121 Avg Trading Value (60D, Wbn) 14 Dividend Yield (13F, %) 1. 6 Free Float (%) 51. 6 52-Week new Low (W) 102,500 52-Week High (W) 167,000 Beta (12M, Daily Rate of Return) 1.4%) NPS (7. 38%) Price Performance (%) Absolute Relative Shining in the dark ? ? ? 2013 target: US$3. 2bn in orders and W3. 6tr in revenues Stands to benefit most from industry restructuring Maintain Buy and TP of W148,000 Maintain Buy and TP of W148,000We maintain our Buy recommendation on Hyundai Mipo Dockyard (HMD) and our target price of W148,000.4tr; 8. 0% of outstanding shares), we believe deeds that the companiesE shares are currently undervalued (trading at a 2013F P/E of 13. 1x and a P/B of 0. 9x).3) In the small- to mid-sized merchant ship market, the product carrier (P/C) segment, in which HMD has the strongest competitive edge, is expected to be relatively robust in 2013. ) If the shipbuil ding market remains in a slump for a protracted period of time, HMD should be able to widen its gap with its peers. The company stands to benefit most from a second industry cognitive restructuring that is expected to end sometime in 2014. 1M 2.

6 5. 3 Share price 160 150 140 130 120 110 100 90 80 1/12 5/12 9/12 1/13 KOSPI Earnings & high Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue OP OP Margin NP EPS EBITDA FCF ROE P/E (Wbn) (Wbn) (%) (Wbn) (Won) (Wbn) (Wbn) (%) (x) 4,138 683 16. 5 493 24,629 741 431 14. 7 9.9 131 6,556 192 -563 4. 3 19. 4 4,624 191 4. 1 190 9,518 256 397 6.6 P/B EV/EBITDA (x) (x) 1. 2 4. 4 0. 8 4.6 0. 8 6. 0 Notes: All figures are based on consolidated K-IFRS; NP refers to neural net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 12 January 17, 2013 Shipbuilding Hyundai Mipo Dockyard (010620 KS/Buy/TP: W148,000) Comprehensive Income Statement (Summarized) (Wbn) Revenues Cost of Sales Gross Profit SG medical Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain from Inv in Associates Pretax Profit Income Tax net Profit from ContinuingOperations Profit from Discontinued Operations Net Profit Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests positive EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating Profit Margin (%) Net Profit Margin (%) 12/11 4,624 3,975 649 272 378 378 -63 -24 0 315 112 202 0 202 200 3 -821 -823 2 441 -633 9. 5 8.

0 12/13F 4,624 4,143 481 290 191 191 52 -9 -2 243 58 185 0 185 190 -5 185 194 -9 256 397 5. 5 4. 1 4. 1 12/14F 4,855 4,321 534 304 230 230 73 -10 -2 303 73 230 0 230 235 -5 230 239 -9 293 416 6.4 13. 1 10. 6 8. 5 12.0 0. 9 0. 8 4. 2 13.9 20. 6 16. 6 1. 8 1.

8 5. 0 5. 0 -40. 5 -56.8 52. 2 20. 3 -59. 4 -34.2 3. 9 5. 0 18. 1 17.2 3. 8 3. 8 2. 3 1.

3 6. 4 7. 4 53. 8 8.8 162. 5 146. 2 105. 6 111.9 -16. 9 -27. 9 689. 5 45.1 P/E (13F, x) Market P/E (13F, x) 9. 0 KOSPI 1,977. 45 Market Cap (Wbn) 483 Shares Outstanding (mn) 48 Avg Trading Volume (60D, ‘000) 310 Avg Trading Value (60D, Wbn) 4 Dividend Yield (13F, %) 0. 0 Free Float (%) 62.

38%) KB Asset Management (5. 13%) Price Performance (%) 1M Absolute -23. 4 Relative -22. 5 Unlikely to weather domestic market slump ? ? ? Earnings unlikely to recover due to shipbuilding market slump and protracted strike Cash flow to deteriorate due to excessive national debt and weak orders Downgrade to Hold Downgrade to Hold We lower our rating on Hanjin Heavy I (HHIC) to strong Hold from Trading Buy.Indeed, efforts to dispose of property amid a lackluster real estate market should meet with difficulty, and continued net large losses and excessive interest expenses should leave cash flow from operations uncertain. Risks ) The commercial vessel unit at the Youngdo shipyard is unlikely to recover. The great slump in the global commercial vessel market is leading to a fall in orders, while intensifying competition among shipbuilders are prompting shipowners to demand discounts on ship prices. .Indeed, the company needs more capital to engage in the development project near the Incheon port. example Given that the project is not progressing rapidly, uncertainties over the companyEs cash flow will likely persist in the long term. 5) HHIC holds massive debt (W2. 8tr).9 -54. 3 fair Share price 120 110 100 90 80 70 60 50 40 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation MetricsFY 12/10 12/11 12/12F 12/13F 12/14F Revenue OP OP anterior Margin NP (Wbn) (Wbn) (%) (Wbn) 3,168 120 3. 8 -72 2,892 108 3. 7 -97 2,547 63 2.

1 -2,123 148 243 -5. 7 -158 195 182 -0. 6 -466 184 146 -1. 8 P/E (x) P/B (x) 1.4 EV/EBITDA (x) 14. 5 19. 9 24. 0 16.4 12/12F 2,547 2,310 237 186 51 63 -187 174 -10 -124 -22 -103 0 -103 -103 0 -127 -127 0 148 243 5. 8 2. 5 -4. 0 12/13F 2,795 2,516 280 204 76 76 -89 159 -5 -13 -3 -11 0 -11 -10 0 -35 -34 0 195 182 7.7 -1. 1 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash modern Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets national Total Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests human Capital Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 2,392 854 917 361 237 4,645 66 3,144 89 7,037 2,483 811 1,603 69 2,6 87 2,317 329 5,170 1,864 241 644 814 2 1,867 12/12F 2,058 686 868 280 209 4,535 81 2,980 89 6,592 2,286 802 1,421 63 2,566 2,177 336 4,852 1,738 241 644 712 2 1,740 12/13F 2,077 617 925 294 228 4,487 76 2,871 89 6,564 2,384 895 1,421 69 2,369 1,977 338 4,753 1,809 346 644 701 2 1,810 12/14F 2,025 422 1,016 322 250 4,412 76 2,780 89 6,437 2,479 983 1,421 76 2,204 1,777 373 4,683 1,752 346 644 669 2 1,754 Cash Flows (Summarized) Wbn) Cash Flows extract from Op Activities Net Profit Non-Cash Income and Expense Depreciation Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income Tax Paid Cash Flows from Inv economic Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets Others Cash Flows from Fin other Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others Increase (Decrease) in Cash Beginning Balance Ending proper Balance 12/11 -228 -97 246 113 0 44 -379 -192 -42 -150 2 68 -15 0 -43 126 -106 91 1 0 -198 -262 1,116 854 12/12F 316 -103 265 97 0 16 131 23 77 33 22 9 -21 0 -14 44 -488 -297 0 0 -192 -168 854 686 12/13F 194 -11 206 120 0 25 -4 -57 -13 92 3 11 -10 0 0 21 -275 -200 105 0 -180 -70 686 617 12/14F 165 -33 216 101 0 25 -28 -91 -29 88 9 10 -10 0 0 20 -370 -200 0 0 -170 -194 617 422 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) visual EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit Growth (%) EPS Growth (%) national Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity Ratio (%) Current Ratio (%) neural Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 57. 4 0. 5 19.

9 -9. 8 RR 3. 3 8. 9 3.9 96. 3 163. 0 0. 5 12/12F -112.0 -11. 9 -25. 9 -41. 8 RR 3.7 1. 4 278. 9 90. 0 166.

9 -158 1,691 24,843 0 0. 0 0. 0 9. 8 31.1 -0. 2 -0. 6 2. 1 262.1 0. 4 18. 0 -466 989 24,030 0 0. 0 0.6 10. 0 4. 0 -0. 5 -1.

4 0. 5 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 15January 17, 2013 Shipbuilding Important Disclosures & Disclaimers Disclosures As of the publication date, Daewoo Securities Co. , Ltd. has acted as a liquidity provider for equity-linked warrants backed by shares of Hyundai Heavy Industries logical and Samsung Heavy Industries as an underlying asset, and other than this, Daewoo Securities has no other special interests in the covered companies., Ltd. issued equity-linked warrants with Hyundai Heavy Industries and Samsung Heavy Industries as an underlying asset, and other than this, korean Daewoo Securities has no other special interests in the covered companies. Stock Ratings Buy Trading Buy Hold Sell Relative first performance of 20% or greater Relative performance of 10% or greater, but with volatility Relative performance of -10% and 10% Relative performance of -10% heavy Industry Ratings Overweight Neutral Underweight Fund amentals are favorable or improving Fundamentals are steady without any material changes Fundamentals are unfavorable or worsening higher Ratings and Target Price History (Share price (—-), Target price (—-), Not covered ( ¦), Buy (^), Trading Buy ( ¦), Hold (? ), Sell (? )) * Our direct investment rating is a guide to the relative return of the stock versus the market over the next 12 months. * Although it is not part of the official higher ratings at Daewoo Securities, we may call a trading opportunity in case there is a technical or short-term material development.Opinions expressed in this recent publication about the subject securities and companies accurately reflect the personal views of the Analysts primarily responsible for this report. Daewoo Securities Co. , Ltd. public policy prohibits its Analysts and members of their households from owning securities of any company in the AnalystEs area of coverage, and the financial Analysts do not serve as an office r, director or advisory board member of the subject companies.except as otherwise stated herein. Disclaimers This report is published by Daewoo Securities Co. , Ltd. („Daewoo†°), a broker-dealer registered in the Republic of Korea and a member of the Korea Exchange.

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