Underage Binge Drinking In UK Health And Social Care Essay

The intent of this survey is for the author to research the authorities schemes in battling the lifting rates of minor orgy imbibing in the UK. The author will near this subject by briefly analyzing the prevalence, determiners, and effects of minor orgy imbibing. The author will besides critically analyse spreads in authorities schemes in undertaking minor imbibing and later explicate a policy intercession that would turn to the spreads highlighted. Ethical consideration of the policy intercession will besides be explored, and later contemplation and decision will shut the survey. There is no cosmopolitan definition of orgy imbibing, but it is frequently described as a form of inordinate consumption of intoxicant over a short period of clip ( Home Office Findings ( HOFs ) , 2005 ) . Parliamentary Office of Science and Technology ( POST ) ( 2005 ) expands this definition farther as such behavior that leads to a rapid addition in blood intoxicant concentration and accordingly to drunkenness. However, the author believes that orgy imbibing occurs when people have no bound of their intoxicant consumption within a short period ensuing in exposing themselves or/and other people to put on the line. Underage orgy imbibing continues to increase in the UK, although the figure of immature people aged 11 to 15 who drink intoxicant has fallen since 2001 ( National Institute for Health and Clinical Excellence ( NICE ) , 2007 ) . However, those that drink intoxicant continue to imbibe more and more frequently ( HM Government, 2007 In NICE, 2007 ) . Harmonizing to HOFs ( 2006 ) , the nature of offenses among elderly 10 to 17 during or after imbibing was associated with frequence of imbibing. Those that drink one time a hebdomad or more reported acquiring involved in statements ( 48 % ) , battles ( 19 % ) and condemnable harm offenses ( 12 % ) during or after imbibing compared to those that drink between one and three times a month ( 16 % , 6 % and 4 % severally ) . Another survey undertaken by The European School Survey Project on Alcohol and other Drugs ( ESPAD ) has examined imbibing among representative samples of elderly 15 and 16 in the UK. In 2003 survey, UK was ranked as the 3rd most adolescent orgy drinkers out of 35 European states ( Hibell et al. , 2004 ) . There are some effects of teenage orgy imbibing, and one of this is medical consequence. Binge imbibing causes encephalon harm that destroys the encephalon cells and grounds suggests that adolescent orgy drinkers are likely to see impaired memory and concluding accomplishments ( Institute of Alcohol Studies ( IAS ) , 2007 ) . Alcohol toxic condition is another common medical status among immature orgy drinkers. The hazard of cardiovascular, high blood pressure, shots, bosom diseases, psychological jobs, chest and unwritten malignant neoplastic diseases are ulterior effects of teenage imbibing on maturity ( IAS, 2007 ) . One of the economic deductions of orgy imbibing is the cost to the NHS, it is estimated that the cost of intoxicant injury to the NHS in England is ?2.7 billion ( 2006/07 ) as compared to ?1.7 billion in 2001/02 monetary values ( The Health and Social Care Information Centre ( THSCIC ) , 2009 ) . Other effects of minor orgy imbibing consequence in intoxicant related accidents. For illustration, in 2007, 6,541 deceases in England were straight related to alcohol ingestion and this has increased by 19 % between 2001 and 2007 ( THSCIC, 2009 ) . Besides, orgy imbibing consequences in insecure behavior such as sexual activities and other illicit drug usage, which is more outstanding with immature orgy drinkers ( IAS, 2007 ) .Determinants OF UNDERAGE BINGE DrinkingDahlgren and Whitehead ( 1991 ) ( see appendix ) formulated a utile model to intensively research the determiners of wellness. It is argued that public wellness is non chiefly the absence of diseases ( World Health Organisation ( WHO ) , 1948 ) but to advance ways of protracting people ‘s lives ( Acheson, 1988 ) through the complex interactions between societal and economic factors, the physical environment and single behavior every bit good as fixed factors such as age, sex and hereditary. The extremum of teenage orgy imbibing age seems to happen around elderly 15 and supra. HOFs ( 2006 ) reported that kids aged 16 to 17 reported holding had alcoholic drink in the old 12 months. This study shows the highest intoxicant ingestion ( 88 % ) between the age bracket as compared to kids aged 10 to 13 that have the lowest ( 29 % ) . Conversely, kids aged 15 to 16 were used in ESPAD ‘s survey, which shows high rate of underage orgy imbibing in the UK among these age bracket ( Hibell et al. , 2004 ) . HOFs ( 2005 ) reported that immature males are likely to gorge drink ( 49 % ) than immature females ( 39 % ) . However, Hibell et Al. ( 2004 ) argued that UK imbibing civilization seems to be switching from immature males devouring intoxicant far more than immature females because figures show that in the UK, Ireland and Isle of Man, adolescent misss are more likely than teenage male childs to hold consumed intoxicant in orgies ( Velleman, 2009 ) . Griffith ( 2000 ) suggested that imbibing has been reported as being portion of British imbibing civilization for coevalss. Plant and works ( 2006 ) argued that most people in the UK drink alcoholic drinks and the negative effects of this imbibing are clearly a large job. The imbibing forms are extremely influenced by national civilization ( Velleman, 2009 ) . For illustration, in Mediterranean civilization, immature people are most likely to imbibe and imbibe more frequently and ne'er caused public inebriation ( Velleman, 2009 ) whereas in northern European, imbibing is characterised by inordinate imbibing but less frequent and heavier when it does happen ( IAS, 2007 ) . Parental influence was critically explored by Velleman et Al. ( 2005 ) of which household construction was one of the countries where households can act upon their bush leagues ‘ substance use behavior. Hellandsjo Bu et Al. ( 2002 ) stated that kids imbibing at a younger age from single-parent households have limited household support. Steinberg et Al. ( 1994 ) argued that non-separated parents who expect a batch from their kids and supply a sense of self-efficacy tend to hold kids who are less likely to be misapplying intoxicant. Environmental factor such as advertizement ( direct and indirect ) is another factor act uponing minor orgy imbibing. Anderson & A ; Baumberg ( 2006 ) and Hastings ( 2007 ) have suggested in their reappraisal that intoxicant advertisement and selling are important factors in the rise in intoxicant ingestion by immature people. In contrast, intoxicant and advertisement industries argued that as the alcoholic drink is a legal merchandise it should be lawfully possible for it to be advertised ( IAS, 2008 ) . Other determiners are the influence of equal force per unit area ( Velleman, 2009 ) and socio-economic factors ( Measham, 1996 ) every bit good as single factors ( Ryan, 2005 In IAS, 2007 ) such as unprompted personality traits, populating off from place and to greater richness, and increase in orgy imbibing for those who have weak wellness beliefs.Current GOVERNMENT STRATEGIES AND BINGE DrinkingThe four states that constitute UK responded to ways in which lifting rate of orgy imbibing could be controlled. In England, authorities published a policy papers in 2004 on Alcohol Harm Reduction Strategy for England ( Cabinet Office Prime Minister ‘s Strategy Unit, 2004 ) . This scheme sets out to turn to better instruction and communicating to accomplish a long term alteration in attitudes to irresponsible imbibing. It besides focuses on better wellness and intervention systems to better early designation and intervention of intoxicant jobs every bit good as to battle intoxicant rela ted offense and working with the intoxicant industry to construct on the good pattern of bing enterprises and develop new 1s. Finally, the new licensing jurisprudence that allows 24 hr entree to intoxicant was introduced by the authorities in November 2005 ( Department for Culture, Media & A ; Sport, 2005 ) . The authorities step to undertake orgy imbibing focuses on injury minimization but failed to turn to the handiness of intoxicant through its 24 hr licensing jurisprudence and affordability ( POST, 2005 ) . The current licensing jurisprudence harmonizing to the authorities tends to cut down the pattern of stashing intoxicant merely before the shutting hours and besides cut downing the Numberss of people hotfooting into the street to buy intoxicant. The Royal College of Physician ( RCP ) strongly disagreed with authorities policy on its 24 hr licensing jurisprudence. It was suggested that this will increase the overall ingestion of intoxicant and will hold public wellness deductions ( POST, 2005 ) . Government argued that its intoxicant licensing jurisprudence will cut down offense and anti-social behavior and promote a alteration in UK imbibing civilization ( POST, 2005 ) . Following the grounds presented above about the effect of orgy imbibing in the UK, it is clear that more dependa ble and grounds based solutions need to be put in topographic point because the authorities is trusting to control intoxicant related offense instead than seting scheme that would control the overall ingestion of intoxicant in order to safeguard the wellness of the people in general. The authorities policy on intoxicant seems to belie the Ottawa Charter for Health Promotion ( OCHP ) which suggests that all public policies should be examined for its impact on wellness ( WHO, 1986 ) which seems to hold been overlooked by the authorities. Furthermore, the Numberss of people sing intoxicant related injury continue to increase in the UK. For illustration, the Numberss of people deceasing from alcoholic liver diseases are increasing in England and Wales ( HM Government, 2007 In NICE, 2007 ) . The author feels that if the scheme to control the overall ingestion of intoxicant could be put in topographic point, it will certainly advance what the authorities is trusting to accomplish. Peoples should be entitled to good wellness and what orgy imbibing is doing in the UK is beliing what a good wellness should be. WHO ( 1948 ) defines wellness as a province of complete physical, mental and societal wellbeing but non needfully absence of disease. Alma-Ata declaration argued that people should hold entree to healthcare at a cost that is low-cost and people going the ownership of their attention ( WHO, 1978 ) . It besides argued that wellness should be a cardinal human right and non a privilege. The authorities ‘s scheme on orgy imbibing seems to miss public wellness benefits as it contradicts Alma-Ata declaration of what a good wellness should be for the people.POLICY INTERVENTIONHarmonizing to Stevenson et Al. ( 2002, p.533 ) policy is ‘a class of action adopted or proposed by an organisation or individual ‘ . However, the author argued that a policy is a set of regulation or guideline that is specifically drafted for a peculiar intent for an person, administration or state to follow. The author will therefore focal point on beef uping the current authorities scheme as this scheme appears non to be battling adolescent orgy imbibing in the UK. The author aims to suggest a policy to cut down 24 hours entree to alcohol ( licencing jurisprudence ) to a restricted clip graduated table and to increase intoxicant revenue enhancements as ways of pull offing the handiness of intoxicant and to cut down early intoxicant imbibing. These thoughts are good supported by RCP, British Medical Association, and Academy of Medical Sciences ( POST, 2005 ) . Presently in the UK, the legal imbibing age is 18 old ages ( Office of communications, 2004 ) and the author is suggesting that the age should be increased to 21 in order to cut down teenage imbibing at early age and its associated injury. There has been a argument in the Australian media proposing increasing the legal age of intoxicant ingestion from 18 to 21 old ages ( Toumbourou, et Al. 2008 ) . Several surveies conducted in the yesteryear suggested that raising the age would cut down striplings ‘ entree to alcohol and subsequent associated injuries ( Grube, 1997 ; Ludbrook et al. , 2002 ) . Lowering the legal imbibing age from 20 to 18 in New Zealand is reported to hold resulted in a crisp addition in teenage and grownups binge imbibing ( Everitt & A ; Jones, 2002 ) . The author feels that if this attack is embraced, it will curtail entree to alcohol among elderly 18 to 21 which will partially cut down rate of imbibing. However, this action on its ain will non decide the or gy imbibing and all its associated injury. NICE ( 2007 ) produces public wellness guidelines on reasonable intoxicant ingestion for usage in primary and secondary schools in order to undertake the imbibing job among the immature people. The policy besides sets to supply support for intoxicant imbibing parents. It appears that authorities is seeking their best to control the lifting rate of underage imbibing in the UK. However, the author feels that sophisticated intoxicant consciousness programmes should be made available to the parents through their General Practitioners ( GPs ) . There is no modus operandi on intoxicant consciousness programme for the parents through their GPs and what appears to be available through the GP is to offer support when intoxicant is going or had become a job. There is a demand for everyday based intoxicant consciousness for the imbibing parents in all the GP surgeries. This thought is good supported by OCHP which focuses on assisting people develop their accomplishments in order to be in contro l of their lives and have more power in determinations that affect them ( WHO, 1986 ) . In making this, parents will be able to give advise on intoxicant imbibing as they will take by illustration by non imbibing or carrying intoxicant drinks in the house. Evidence shows that parents are likely to act upon their kids through their imbibing behavior ( Bandura 1977, In Velleman, 2009 ) . The author is besides suggesting that all alcohol related adverts ( direct or indirect ) should be ban in the UK because a recent reappraisal of seven international research surveies revealed that there is a correlativity between anterior intoxicant advertisement and selling exposure and subsequent intoxicant imbibing behavior in immature people ( Smith & A ; Foxcroft, 2007 ) . Taking actions on intoxicant advertizement in order to safeguard the hereafter of bush leagues are good supported by WHO ‘s European Charter on intoxicant. It addresses the European states to take action on intoxicant advertizement of which forbiddance was portion of the recommendations that were highlighted ( IAS, 2008 ) . However, the author is cognizant that this attack might non be in favor of the UK economic system because alcohol investors may go forth or non put in such state where publicity of their intoxicant merchandise can non be advertised. The author believes that overall wellness of the peo ple should outweigh such economic job. Last, the author is suggesting that a step such as presenting a national individuality card for its citizens with a position that this card will be used at the point of intoxicant purchase in order to maintain a record of authorities recommended ( THSCIC, 2009 ) daily alcohol consumption ( 3-4 and 2-3 units for work forces and adult females severally ) for an person who uses his/her card. This proposal will be monitored in relation to daily intoxicants intake should people get down to stash intoxicant. This proposal will besides restrict intoxicant entree to the bush leagues as grounds suggests they still have entree to alcohol despite authorities policy ( HOFs, 2006 ) .Ethical CONSIDERATIONThis survey considers the four widely accepted ethical rules ( Beauchamp & A ; Childress, 1995 ) which are autonomy, beneficence, non-maleficence and justness. This survey will promote the minor people to do picks based on the information provided. The right information will be passed to them and will be allowed to do their informed determinations. The survey is besides constructed in a manner that is good to minor people, household and society at big. The confidentiality and regard of the people will be maintained. Last, the author will guarantee that people are treated reasonably and the resources will be shared every bit among those that need support.ContemplationMy apprehension of public wellness and application of theory into pattern has developed to a considerable degree during the class of this survey. This survey seems to be complex and necessitating in-depth cognition and apprehension of public wellness pattern. With equal homos and material resources obtained, I was able to bring out troubles that were ab initio apparent. This survey has given acceptance to the spreads that sometimes occur in authorities scheme to battle a job. I am cognizant that for an issue such as minor orgy imbibing to be revisited on the public docket, there may be a demand to recommend and intercede between different involvements for the chase of wellness of the people in the society. Such manner is achieved through media, advertisement to raise public consciousness, personal entreaties by public functionaries and famous persons and many other attacks ( Pencheon et al. , 2006 ) . Although this is non a warrant that such issues will derive public docket but it is suggested that public sentiment has its greatest impact on authorities decision-making when people feel strongly and clearly about a job ( Pencheon et al. , 2006 ) .DecisionThis survey has attempted to research the lifting rate of underage orgy imbibing by critically measuring the authorities steps in undertaking the job, with raised and explored policy intercessions in order to turn to spreads in authorities scheme. It is hoped that the policy intercessions would turn to the overall intoxicant ingestion instead than aiming merely the intoxicant orgy drinkers.MentionsAcheson, D. ( 1988 ) . Public Health in England. London: HMSO. Anderson, P. & A ; Baumberg, B. ( 2006 ) Alcohol in Europe, a public wellness position: A study for the European Commission. London: Institute of Alcohol Studies Bandura, A. ( 1977 ) . Cited In: Velleman, R. erectile dysfunction. Influence on how kids and immature people learn about and act towards intoxicant. A reappraisal of the literature for the literature for the Joseph Rowntree Foundation ( portion one ) . York: Joseph Rowntree Foundation. [ Online ] . Retrieved on 12th December 2009 from: hypertext transfer protocol: //www.drugsandalcohol.ie/12563/1/JRF_children-alcohol-use-partone_2009.pdf Beauchamp, T. L. & A ; Childress, J. F. ( 1995 ) . Principles of biomedical moralss. Oxford: Oxford University Press. Cabinet Office Prime Minister ‘s Strategy ( 2004 ) . The Alcohol Harm Reduction Strategy for England. London: Cabinet Office. Dahlgren, G & A ; Whitehead, M ( 1991 ) . Policies and schemes to advance societal equity in wellness ( Roneo ) . Capital of sweden: Institute for Future Studies. Department for Culture, Media & A ; Sport ( 2005 ) New Licensing Laws Come into Effect at Midnight Tonight. [ Online ] . Retrieved on 26th January 2010 from: hypertext transfer protocol: //www.culture.gov.uk/reference_library/media_releases/3023.aspx Everitt, R. & A ; Jones, P. ( 2002 ) . Changing the minimal legal imbibing age.its consequence on a cardinal metropolis exigency section. New Zealand Medical Journal 115 ( 25 ) , pp. 9-11 Grube, J. ( 1997 ) . Preventing gross revenues of intoxicant to bush leagues. Consequences from a community test. Addiction 92 ( 2 ) , pp.251-260. Hastings, G. ( 2007 ) Social marketing.why should the Satans have all the best melodies? London: Butterworth-Heinemann Hellandsjo Bu, E. T. , Watten, R. G. , Foxcroft, D. R. , Ingebrigtsen, J. E. & A ; Relling, G. ( 2002 ) . Teenage intoxicant and poisoning introduction: the impact of household socialisation factors, populating country and engagement in organized athleticss. Alcohol and Alcoholism 37, pp.74-80 Hibell, B. , Andersson, B. , Bjarnason, T. , Ahlstrom, S. , Balakireva, O. , Kokkevi, A. and Morgan, M. ( 2004 ) . The ESPAD Report 2003. Alcohol and other Drug usage among Students in 35 European Countries. Capital of sweden: Swidish Council for Information on Alcohol and other Drugs. [ Online ] . Retrieved on 12th December 2009 from: hypertext transfer protocol: //www.sedqa.gov.mt/pdf/information/reports_intl_espad2003.pdf HM Government ( 2007 ) . Cited In: National Institute for Health and Clinical Excellence. erectile dysfunction. Interventions in schools to forestall and cut down intoxicant usage among kids and immature people. [ Online ] . Retrived on 20th December 2009 from: hypertext transfer protocol: //www.nice.org.uk/PH007 Home Office Findings ( 2005 ) . Findingss from the 2003 Offending, Crime and Justice Survey. alcohol-related offense and upset. [ Online ] . Retrieved on 15th December 2009 from: hypertext transfer protocol: //www.homeoffice.gov.uk/rds/pdfs05/r261.pdf Home Office Findings ( 2006 ) Underage imbibing: findings from the 2004 Offending, Crime and Justice Survey. [ Online ] . Retrieved on 15th December 2009 from: hypertext transfer protocol: //www.homeoffice.gov.uk/rds/pdfs06/r277.pdf Institute of Alcohol Studies ( 2007 ) . Binge Drinking. Medical and Social Consequences. [ Online ] . Retrieved on 10th January 2010 from: hypertext transfer protocol: //www.ias.org.uk/resources/factsheets/binge_drinkingmed.pdf Institute of Alcohol Studies ( 2008 ) . Alcohol & A ; Advertising. IAS Factsheet. [ Online ] . Retrieved on 13th January 2010 from: hypertext transfer protocol: //www.ias.org.uk/resources/factsheets/advertising.pdf Ludbrook, A. , Godfrey, C. , Wyness, L. , Parrot, S. , Haw, S. , Napper, M. & A ; Teijlingen, V. ( 2002 ) . Effective and cost effectual steps to cut down intoxicant abuse in Scotland. A literature reappraisal. Scotland: University of York. [ Online ] . Retrieved on 20th January 2010 from: hypertext transfer protocol: //www.scotland.gov.uk/health/alcoholproblems/docs/lire-00.asp Measham, F. ( 1996 ) . The â€Å" large knock † attack to sessional imbibing. altering forms of intoxicant ingestion among immature people in North West England. Addiction Research 4 ( 3 ) , pp.283-299 National Institute for Health and Clinical Excellence ( 2007 ) Interventions in schools to forestall and cut down intoxicant usage among kids and immature people. [ Online ] . Retrieved on 20th December 2009 from: hypertext transfer protocol: //www.nice.org.uk/PH007 Office of Communications ( 2004 ) . Final revised alcohol advertisement regulations. London: Ofcom. [ Online ] . Retrieved on 2nd January 2010 from: hypertext transfer protocol: //www.ofcom.org.uk/consult/condocs/AlcAds/decision/rules.pdf Parliamentary Office of Science and Technology ( 2005 ) Postnote. Binge Drinking and Public Health. [ Online ] . Retrieved on 2nd January 2010 from: hypertext transfer protocol: //www.parliament.uk/documents/upload/postpn244.pdf Pencheon, D. , Guest, C. , Melzer, D. & A ; Gray, J. A. M. ( eds. ) . ( 2006 ) . Oxford Handbook of Public Health Practice. 2nd edition. New York: Oxford University Press. Plant, M. & A ; Plant, M. ( 2006 ) . Binge Britain. Alcohol and the National Response. New York: Oxford University Press. Ryan, F. ( 2005 ) . Cited In: Institute of Alcohol Studies. erectile dysfunction. Binge Drinking – Nature, Prevalence and Causes. [ Online ] . Retrieved on 10th January 2010 from: hypertext transfer protocol: //www.ias.org.uk/resources/factsheets/binge_drinking.pdf Smith, L. A & A ; Foxcroft, D. R. ( 2007 ) . The consequence of intoxicant advertisement and selling on imbibing behavior in immature people. A systematic reappraisal. London: Alcohol Education and Research Council. [ Online ] . Retrieved on 10th January 2010 from: hypertext transfer protocol: //www.aerc.org.uk/documents/pdfs/finalReports/AERC_FinalReport_0040.pdf Steinberg, L. , Fletcher, A. & A ; Darling, N. ( 1994 ) . Parental monitoring and equal influences on stripling substance usage. Pediatricss 93 ( 6 pt 2 ) , 1060-1064 Stevenson, A. ( ed. ) , Elliott, J. ( ed. ) , Jones, R. ( ed. ) . ( 2002 ) . 2nd erectile dysfunction. Colour Oxford English Dictionary. New York: Oxford University Press. The Health and Social Care Information Centre. ( 2009 ) . NHS. The Information Centre. [ Online ] . Retrieved on 30th November 2009 from: hypertext transfer protocol: //www.ic.nhs.uk/webfiles/publications/alcoholeng2009/Final % 20Format % 20draft % 202009 % 20v7.pdf Toumbourou, J. , Moodie, R. , Eyre, J. & A ; Harper, T. ( 2008 ) . Set boundaries, set an illustration. Australia: Fairfax. Velleman, R. ( 2009 ) . Influence on how kids and immature people learn about and act towards intoxicant. A reappraisal of the literature for the literature for the Joseph Rowntree Foundation ( portion one ) . York: Joseph Rowntree Foundation. [ Online ] . Retrieved on 12th December 2009 from: hypertext transfer protocol: //www.drugsandalcohol.ie/12563/1/JRF_children-alcohol-use-partone_2009.pdf Velleman, R. , Templeton, L. & A ; Copello, A. ( 2005 ) . The function of the household in preventing and step ining with substance usage and abuse. A comprehensive reappraisal of household intercessions with a focal point on immature people. Drug & A ; Alcohol Review 24, pp.93-109 World Health Organisation ( 1948 ) . WHO definition for wellness. [ Online ] . Retrieved on 10th January 2010. hypertext transfer protocol: //www.who.int/about/definition/en/print.html World Health Organisation ( 1978 ) . Alma-Ata declaration. [ Online ] . Retrieved on 11th November 2009 from: hypertext transfer protocol: //www.who.int/hpr/NPH/docs/declaration_almaata.pdf World Health Organisation ( 1986 ) . The Ottawa Charter for Health Promotion. [ Online ] . Retrieved on 11th November 2009 from: hypertext transfer protocol: //www.who.int/hpr/NPH/docs/ottawa_charter_hp.pdf

Hunting isnt murder Essay

Is hunting murder? This is something that people should think about. Many people walk around and believe that hunting is truly murder and think that they are completely right about this. However, I believe strongly that hunting is not murder and I will explain and prove why it is not murder. Murder is defined as: 1. The unlawful killing of one human by another, especially with premeditated malice. (murder,1) 2. To kill brutally or inhumanly. (murder,1) Now looking at these words in these definitions I can prove that hunting can not fall under the category of murder. Unlawful is defined as something that is illegal. (unlawful, 1) Therefore, I can make my first point on how hunting is not illegal. Yes there are times when it can be illegal if people are hunting the wrong time of year or don’t have their license. However, that is not what we are concerned about, when it comes down to it the majority of people who hunt do it legally and if they don’t then they are fined and even in some cases jailed. Next, human is defined as having or showing those positive aspects of nature and character regarded as distinguishing humans from other animals. (human, 1) No animals are not human, and yes they are living things, but they are not homo sapiens. I don’t care what people say there is no way you can prove that a deer, goose, duck, or turkey is under the category of a homo sapien. With knowing this I can also state that hunting can therefore not be considered murder by definition. Next in the definition of murder it states that murder is the killing of a human with premeditated malice. Malice is defined as a desire to harm others or to see others suffer; extreme ill will or spite. (Malice, 1) Yes, many people like myself hunt as a sport. However, many people don’t realize that we don’t do this because we like to kill and watch animals suffer, but  in fact we do this because we love nature and animals and we do not want to see them suffer. Hunting is legal as a sport, because the government knows that there are mass populations of animals that need to be made smaller in order to keep the populations strong. The Federal Aid in Wildlife Restoration Act, better known as the Pittman-Robertson Act, was passed by Congress in 1937. Pittman-Robertson placed a Federal excise tax on hunting equipment of many kinds, including guns and ammo (11 percent tax on sporting arms, ammunition, and archery equipment, and a 10 percent tax on handguns). (Category, 1) With the overwhelming support of hunters across the USA, this Act directed that money produced by this additional tax on our gear be used to provide funding for the selection, restoration, rehabilitation and improvement of wildlife habitat, wildlife management research, and the distribution of information produced by the projects. It was later amended (1970) to include funding for hunter training programs and the development, operation and maintenance of public target ranges. (Category, 1) Many hunters love and care about the animals they are hunting and do not do it in spite of the animals or to watch them suffer. The last keyword I want to talk about in the definition of murder is to kill brutally. Brutally is defined as extremely ruthless and cruel. I don’t know if people know much about starvation, but I have been taught about how painful of a disease it is to go through. Starved animals are generally emaciated, their fat stores are depleted, their body catabolizes the protein from their muscles, and leaves them in severe pain and anguish. I would have to say that I would much rather have a bullet but through my chest then I would want to have to go through the pain of starvation. As long as there are hunters, we will be able to have control over animal starvation and be able to keep it at a minimum. Many people question me when I tell them I am a hunter and like to go on about how cruel it is and wonder how I am able to kill an innocent animal. I explain that as a hunter I love animals and that is why I hunt. It is tough to convince someone when their mind is already made up, but I like to try. I hunt for many reasons. Some of which are for adventure, the feel of satisfaction of a job well done, the sense of being closer to nature and yes, for the kill. I explain that I hunt for the joy of the hunt. Also, that thousands of years ago hunters told their stories and honored their animals with pictographs. I don’t know if people often use pictographs anymore, but we do the same thing in a different way. Rather than painting on walls, we now mount animals on walls. Like our ancestors, we share the meat with our families and friends. I also know of people who take meat from animals they have hunted and donate it to people in need. Hunting is not something I do to just pass time. Hunting is a way of life for me, and I am just grateful that I am able to enjoy it. Take a look at my reasoning of why I believe hunting can not be considered murder, do you think hunting is murder? Works cited Brutally – Definition of Brutally by the Free Online Dictionary, Thesaurus and Encyclopedia. † Dictionary, Encyclopedia and Thesaurus – The Free Dictionary. Jan. -Feb. 2010. Web. 17 Nov. 2010. . Category, By. â€Å"A Discussion of Who Hunters Are and What They Do for Wildlife, Habitat, and Folks Who Don’t Even Hunt. † Hunting and Shooting. Web. 17 Nov. 2010. . Human – Definition of Human by the Free Online Dictionary, Thesaurus and Encyclopedia. † Dictionary, Encyclopedia and Thesaurus – The Free Dictionary. Jan. -Feb. 2010. Web. 17 Nov. 2010. . Malice – Definition of Malice by the Free Online Dictionary, Thesaurus and Encyclopedia. † Dictionary, Encyclopedia and Thesaurus – The Free Dictionary. Jan. -Feb. 2010. Web. 17 Nov. 2010. . Murder – Definition of Murder by the Free Online Dictionary, Thesaurus and Encyclopedia. † Dictionary, Encyclopedia and Thesaurus – The Free Dictionary. Jan. -Feb. 2010. Web. 17 Nov. 2010. . Unlawful – Definition of Unlawful by the Free Online Dictionary, Thesaurus and Encyclopedia. † Dictionary, Encyclopedia and Thesaurus – The Free Dictionary. Jan. -Feb. 2010. Web. 17 Nov. 2010.

Usage of ornaments and traditional aspects vs. Simplicity and no Essay

Usage of ornaments and traditional aspects vs. Simplicity and no ornaments - Essay Example Growing urban areas, especially in the rapidly developing cities, have become arenas of many contradictory forces associated with the growing of commercialism and consumption attitudes, architectural fashions and professional egoism, and many misconceptions regarding progress and modernization. Essentially, there is a potent discourse between building of simple and minimalist structures and doing away with the traditional aspects of architecture that lay emphasis on ornamental prowess. The big question is whether architecture, in its modern or traditional form, stands in harmony with the culture and environment (Trilling, 2001). Cities have thus become a symbol for the neglect of organic, cultural traditions and the destruction of the identity of places. Respect of traditions and factors specific to certain places is, however, of highest importance for a symbiotic development of the human environment relationship. As individual characteristics are different so it should be with cities, with urban planning. In the modern world, architecture has changed the values that it portrays. It reflects different set of values from the traditional local ones; buildings and space are symbols for economic and political power, importance and status, achievement and wealth, ours and theirs, poor and rich. The prerequisites are visibility and surprise; the creation of a distinct image in the observer’s mind for capturing his attention.... It is evident that ornamental architecture added to the visual appeal of architectural designs and also helped make people to easily relate to the buildings around them. However, the advent of modern architecture in the 1920s spelt death for the once popular ornamental architecture. Since the beginning of the twentieth century, it has been normal to assume that good design has to be plain and simple. Ornamentation was renounced because proponents of modern architecture believed that the decorative aspects of design were unnecessary and not cost effective (Loos, 1998) . The origins of modern architecture can be attributed to the social and political revolutions of that time. Advances in technology and engineering gave rise to new materials such as iron and steel which encourage minimalist design. The advent in modern architecture has given prominence to the concept of â€Å"internationalization†. In this regard, the design of buildings has become uniform regardless of the cultu ral background. This is evident considering that it has become a norm to have almost generic high rise block buildings in almost every city in the world. This paper seeks to analyze make a comparison between two architects. This is in respect to the traditional ornamental architecture and the modern non ornamental simple architectural design. It should be noted that architecture is an evolving discipline and thus modernity was bound to happen. However, the major issue is to evaluate the impacts of modern architecture and the how recent advances in architecture have shaped the society. The implications of discarding traditional ornamental architecture will also be evaluated. This is essential to assess the overall impact of

1.Compare and contrast US naval innovation with that of Great Britain Essay

1.Compare and contrast US naval innovation with that of Great Britain. What is the dichotomy and why Use evidence from (REQUIRED READINGs) to substantiate your argument - Essay Example The United States did not heed the treaties that Great Britain recommended. They saw the need to build submarines and the advantage of using them in battle. Their naval officers highlighted the benefits of submarines during naval warfare. In conclusion, Great Britain adopted a defense-based approach whereas United States was concerned with offensive-based equipment to counter the threats posed by nations like Japan. This was evidenced by the different retaliation strategies to the German submarine threat, the Versailles treaty and different strategies for budgeting for war. US came into World War I immediately after Germany resorted into using submarines in naval warfare. By using submarines, the Germans nearly forced Great Britain out of the first war. For this reason, countries had to invest into the innovation of new weapons to counter the threat of their adversaries. The United States, after the attack on Pearl Harbor by the Japanese, began to see the need of engaging in naval warfare. The attack forced the issuance of orders, by the US Navy, to discriminate against Japanese air and naval warfare. Following the raids on their vessels, the British Navy marshaled the US Navy to abolish the use of submarines in naval warfare. However, the United States did not approve the abolition of the submarine1. The US created a submarine section in its naval force as they planned to protect themselves from an ambitious Japan. Capt. Thomas C. Hart argued that â€Å"the submarine will be an extremely valuable weapon†¦..† The submarines at the disposal of the US Navy, during the First World War, were not seaworthy and not as useful. Great Britain, unlike it counterpart the US, saw the need for a capital ship and valued the decisive nature of a fleet. This approach, according to Correlli Barnett, was misguided and resulted into the disastrous Washington treaty2. The Washington treaty showed the ‘penny-pinching’ side of the British

Company Law Essay Example | Topics and Well Written Essays - 2000 words - 8

Company Law - Essay Example Scholars denote that because a business organization is incorporated, then the assets of these people are protected from seizures by creditors of the company. That is, the owners of the business under consideration are not liable for the liabilities of the company2. It is also easy for the owners of the company to raise capital through the stock market; it is simple to transfer the ownership of this company to another individual, the tax charged on a company is lower as compared to a personal income, and finally, a company that is incorporated is able to achieve a lenient tax restriction, on losses that are carried forward. The Company’s Act of 2006 provides for the issuance of an article of incorporation once a company is incorporated. This article of incorporation is responsible for identifying the main purpose of the company, the location of the company, the number of shares issued by the company, etc. This article of incorporation will also contain the specific date of the company’s registration, and the fees paid for the incorporation. It is important to understand that majority of companies are created for the main purpose of doing business. This is an aspect that the British parliament wants to encourage, and this is because the existence of many companies in Britain will lead to an improvement in the economy of the country, and creation of jobs. However, it is important to understand that doing business is a risky affair, and a business organization might fail, or it may acquire some profits3. This acquisition of profits is the major incentive that makes people to engage in a business initiative. It is important to understand that the common law principle denotes that an individual who provides capital for a business operation, and is responsible for sharing the profits that the business makes, is also liable for any debts that the business under

How the Compliance with International Environmental Law Can be Made Essay

How the Compliance with International Environmental Law Can be Made More Effective and Enhanced - Essay Example Critical Appraisal of Mechanism for Implementation and Enforcement 18 5.1 Impact Assessment (EIAs and SEAs) 19 5.2 Special conditions for EPI in ODA 20 5.3 Public participation, transparency and accountability 21 5.4 Fragmentation of the normative aspect of the international governance system 23 5.5 Issues and implementation surrounding environmental law in Europe 23 6. Conclusions 24 6.1 No definite system or body of laws 24 6.2 No authority to legislate or enforce laws 25 6.3 Existence of operational mechanisms to support environmental policies 26 Bibliography 28 Appendix A: Comprehensive List of International Agreements 30 Appendix B: List of Major International Environmental and Natural Resources Law 33 Appendix C: Our Common Future, Annexe 1: Summary of Proposed Legal Principles For Environmental Protection and Sustainable Development Adopted by WCED Experts Group on Environmental Law 36 Appendix D: Organizations Related to Environmental & Natural Resources Law 41 1. ... Within the scope of national law, there is no problem that the duty to protect and preserve the environment is palpable and the authority to enforce it unquestionable. However, in the sphere of international law, a matter as crucial as maintaining the ability of the environment to sustain life for generations to come apparently meets with a well-meaning but inadequate response. Proposals to arm international environmental law with more teeth have been forwarded for almost half a century, and yet the more adamant environmentalists are dissatisfied that the results have been lackluster at best. It is against this background that this paper discusses how compliance with International Environmental Law can be enhanced and made more effective, within the purview of established legal principle. It shall examine the scope and extent of international environmental laws and regulations, how these are originated and organized, and the organizations charged with their implementation and enforce ment. Discussion shall thereafter proceed to how the laws are applied, the instruments by which they are enforced, what inadequacies exist in this implementation, and how to address such shortcomings with a view towards improvement. 2. International Environmental Laws & Regulations â€Å"Environmental Law is a complex body of law made up of global, international, national, state and local statutes, treaties, conventions, regulations and policies which seek to protect the environment and natural resources affected, impacted or endangered by human activities.†1 The predominant legal method for addressing legal problems that go beyond national boundaries is through the promulgation of international environmental agreements.2 For the greater part,

Journal Assignment Example | Topics and Well Written Essays - 250 words - 55

Journal - Assignment Example I also dream of the future with no environmental pollution. I am aware of the dangers caused by environmental pollution, which encourage me to work hard unceasingly towards the achievement of that future. I believe that change begins with me. Therefore, I employ numerous management principles by ensuring that I conserve the available resources to preserve for future generations. This includes using energy, water, and land only to the capacity that can sustain me. I try as to use any alternative that is pollution-free or less-polluting. I have learned that through management of the natural environment, I have become a responsible individual all my life. I also believe in group work in management. This has led me to influence many other people in environmental issues. I lead by example to ensure that the current generation and the generation behind me adopt the same style of leadership. A good manager is also required to sharpen skills and competencies continually (Plunkett 12). I have done this by participating in seminars and other training sessions touching on the environment as well as reading articles on environmental

Childhood Obesity Essay Example | Topics and Well Written Essays - 2750 words

Childhood Obesity - Essay Example The American Academy of Pediatrics terms childhood obesity as an ‘unprecedented burden’ on the children’s health. The unnecessary weight gain, primarily due to poor diet and lack of exercise, accounts for as many as 300,000 deaths each year.   It is estimated Obesity costs the society, on an annual basis, nearly $ 90 billion (Stewart 2009). Methodology for Determining Childhood Obesity To determine whether a child is overweight or obese, the body mass index (BMI), a measure that uses a child's weight and height, is calculated. Body mass index (BMI) is expressed as weight in kilograms divided by height in meters squared (kg/m2). The BMI is a realistic estimation of body fatness for most children and teens even though it does not measure body fat directly. Unlike the BMI categories used for adults, a child's weight status is determined with the help of an age and sex specific percentile for BMI. This methodology is adopted because the children's body composition v aries as they age and differs for boys and girls. In normal parlance, the terms ‘overweight’ and ‘obese’ are used interchangeably. However there is a technical difference. Overweight is defined as a BMI at or above the 85th percentile and lower than the 95th percentile for children of the same age and sex while obesity refers to the BMI at or above the 95th percentile for children of the same age and sex (Milne 2007). Risks Associated with Childhood Obesity Obesity is associated with numerous risks for children not only when they are young but also during their later life. Obese children are susceptible to having high blood pressure and high cholesterol as well as heightened risk of impaired glucose tolerance. Close to 70 percent of obese children have at least one additional risk factor for cardiovascular diseases (Frieden 2010). Such children are more prone to contracting Type II diabetes, breathing problems and asthma. Obese children are also known to ha ve medical conditions like joint problems, musculoskeletal discomfort, fatty liver disease, gallstones, and gastro-esophageal reflux. The adverse effects of obese continue even as these children grow. As adolescents, obese children have a greater chance of encountering social and psychological problems resulting in poor self-esteem. It is a myth that plump babies naturally outgrow their baby fat. The reality is that excess weight tends to persist in later life as well. There is empirical evidence that establishes the fact that obese children are more likely to become obese adults and this obesity in adulthood is prone to be more severe. Children who are obese at age six have a 50 percent higher chance of being obese as adults, irrespective of the parental obesity status. Four-fifth of obese children at ages 10-15 also tend to be obese at age 25 (Frieden 2010). The obesity in adulthood leads to a serious health conditions including heart disease, diabetes, and is even responsible for some cancers (Berger 2006). Causes of Childhood Obesity In simple parlance, childhood obesity is the consequence of consuming more calories than an individual can burn. Many factors, biological, economic, and social, converge and are responsible for childhood obesity. Each of these factors has a significant influence on the type of food ingestion, method of food preparation as well as on food consumption (Procter 2008). Various experts have put forth numerous causes of childhood obesity

Anova Assignment Example | Topics and Well Written Essays - 250 words

Anova - Assignment Example It has been alleged that younger members of the society, especially from both developed and developing countries do not have time to engage in eating healthy. Due to their tight schedules as students or young professionals, they tend to consume fast food to save on time and to socialize. From this idea, the independent variable would be the respondents age. This can be explained by the fact that ones age should dictate on fast food consumptions. Similarly, the dependent variable will be the frequency of fast food consumption. After running the analysis, I expect to find out that there is a significant difference in the mean number of times respondents consume fast food at the different level of age, (F=4. 962, P=0. 000). Similarly, I expect that the Tukey post hoc test will show that younger individuals probably less than 25 years old will have a significantly higher mean number of times they eat fast food (Mean=10.66) when compared to older respondents over 30 years

BDM midterm Essay Example for Free

BDM midterm Essay Ralph Edmund loves steak and potatoes. Therefore, he has decided to go on a steady diet of only these two foods for all his meals. Ralph realizes that this is not the healthiest diet, so he wants to make sure that he eats the right quantities of the two foods to satisfy some key nutritional requirements. He has obtained the following nutritional and costs data. The Oak Works is a family owned business that makes hand crafted dining room tables and chairs. They obtain the oak from a local tree farm, which ships them 2500 pounds of oak each month. Each table uses 50 pounds of oak while each chair uses 25 pounds of oak. The family builds all the furniture itself and has 480 hours of labour available each month. Each table or chair requires 6 hours of labour. Each table nets Oak Works $400 in profit, while each chair nets them $100 in profit. Since chairs are often sold with tables they want to produce at least twice as many chairs as tables. Formula a linear program to maximize profit.

Financial and Strategic Evaluation of Tesco Plc

Financial and Strategic Evaluation of Tesco Plc Financial and strategic evaluation of Tesco Plc Executive Summary To understand how a business is performing, understand what might be expected in the future and determine whether the business is a risky investment. An investor, analyst, researcher or accountant needs to understand the strategy of a business and how they plan to achieve this. The capital structure of a business can determine whether the company has enough finance in order to achieve targets and investments, determining certain risks involved and level of return required. This report looks at the level of gearing Tesco has whether financed by debt or equity, going on to look at the weighted average cost of capital. Investment is also important as investors expect, and the company looks to achieve growth. With Tesco this report looks at both future and past investments, analysing the non financial and financial benefits from them. Dividend policy and yields are analysed looking into theory behind them. Tesco shares are analysed using valuation techniques, looking at what may be the reason for Tescos success through the recession, helping them stabilise share price after the peak of recession despite some contractual and ethical issues. Finally looking into how the international market has benefited Tesco by non financial means. An overview of a few strategic issues Tesco has faced over the years is provided, looking into some of the challenges and results of these issues. Problems such as competition, international expansion and contract disputes are shown in detail later in the report. 1.0 Introduction Tescos overall strategy is growth, which has helped strengthen their core business within the UK, (Tesco, 2010). Tesco plan to achieve this strategy through diversifying their product range away from food and to include financial, non financial and telecommunication services/products also by penetrating new markets globally. This report evaluates Tesco, analysing their capital structure and the level of debt discussing how this can influences the company value and investing decisions, looking at how past investments and future investments are beneficial for Tesco. Dividend policies are related to theory and share prices are questioned using different valuation techniques available to any investor. Going on to look at survival through the recession looking at different strategic issues they have faced over the years. 2.0 Capital Structure and Finance agreement Figures above referenced from FAME database, show for expansion of its business Tesco Plc increased gearing from 51.58% to 91.38% within years 2000 and 2003. Increasing debt can be a cheaper less risky option as cost of debt is lower than equity and increasing levels of debt can reduce the weighted average cost of capital. By reducing weighted average cost of capital, company value can be increased and therefore shareholder wealth is increased. WACC can be used against cash flows in order to determine the net present value of a project. Tesco probably used this as a means to decide which investments are beneficial. After this period global financial crisis began to hit the market, Tesco Plc reduced its gearing ratio and kept the ratio level at around 75% until 2007. This was sensible at the time due to recession risk of lower turnover levels could mean the ability to repay certain levels of debt more difficult. Having higher levels at the time would have meant financial risk, repayment risk etc, would affect interest rates on loans and increase the cost of equity as shareholders are taking a higher risk therefore require a higher rate of return. Tescos main competitors suffer the similar situation; ASDA and Sainsbury were also affected by the global financial crisis, they also reduced their gearing ratio level and keep it to relatively low level to about 35%. However, with the positive profit figure, Tesco changed its current strategy. Tesco have geared up its business rapidly from 2008, and reached 149.14% in 2009. As the figures show that Tesco had borrowed in a huge amount of debt in 2009. R ecently, a joint venture between Tesco and property firm British Land has refinanced its retail portfolio with a new 315 million pounds five-year term loan. (British Land, 2010) it is to believe that a rapid market expansion and investment will be followed. Years 2005 to 2009, sales and income figures of TESCO have steadily increased; it generated a very positive profit return for investors. With the global finance crisis continuing to affect UKs economics, the government may loosen its restriction towards TESCO; whatever happens, people need foods and basic living materials, it is a perfect moment for Tescos expansion. The high level of gearing may support Tesco to expand its business; however there is potential risk of default on loans. Can Tesco maintain its level of income, if not how can TESCO to repay the debt it borrowed? This problem could influence investor decisions. 3.0 Investment UKs largest retailer Tesco expanded into foreign markets attempting to increase future growth in the global retail industry. The company initiated its international expansion strategy by venturing into Central Europe, Asia and the US. Figure 1 shows Tesco PLC sales profits before recession had an impacted. This shows sales profits in the overseas market amounted to a fair percentage of Tescos profit figure. Comparing growth over 5 years in the UK with Asia, UK only generates a 49% increase when the Asian market increased 250%. Tesco has placed increasingly focuses on their international venture. Nearly two-thirds of the groups space is now overseas, although these markets still only account for a quarter of group turnover (Rigby, 2009). Tescos Summary Five Year Record Year ended February 2001 (m) 2002 (m) 2003 (m) 2004 (m) 2005 (m) Group Sales 22,585 25,401 28,280 33,557 37,070 Turnover excluding VAT UK 18,203 19,821 21,309 24,760 27,146 Rest of Europe 1,737 2,181 2,664 3,385 3,818 Asia 860 1,398 2,031 2,669 3,010 20,800 23,400 26,004 30,814 33,974 Philip Clarke, head of Tescos international operations, singled out South Korea, along with China. Mentioned as Tescos two most promising markets, planning to open 100 new stores in South Korea alone (Rigby, 2009). This is a wise decision due to current economics Britain has been impacted among some of the worst around the world, where China especially was not greatly affected with vast growth. Probable reasons for Tesco expanding internationally rather than nationally may be due to competition policy trying to limit Tescos growth, also there is little land space to continue building new structures, and Tesco already purchased the most profitable local convenience stores in the past. 3.1 Environmental Tesco, now 4th largest retailer in the world, have announced that it will open the first zero carbon store as part of its bid to be a carbon  ­neutral company by 2050. They stated its corporate commitment towards reducing climate change, for example halving its energy use per square foot by 2010, reuse and recycling packaging where possible (Leahy, 2009). A green example of this is where they use returnable ‘Green trays saving around 132,000 tonnes of cardboard packaging in 2007/08. Tesco plans to invest  £100m in sustainable environmental technology which is finding more practical ways to use renewable energy, such as solar and wind power, and to help develop the green technologies of the future (Tesco Media, 2010). Environmental issues are becoming increasingly important over the years. Climate change has become a huge focus for businesses. The Climate Change Act 2008 makes the UK the first country in the world to have a legally binding long-term framework to cut carbon emissions (OPSI, 2008). Government ensures that organisations are adapting and that its policies, programmes and investment decision are made in the context of climate change. By continuously making environmental changes Tesco builds reputation as a more ethical company. 3.2 Diversification On the other side of expansion, Tesco is looking to take advantage of the current mistrust towards banks following their role in the economic crisis. They had spent  £950m for purchasing 50% of Royal Bank of Scotlands share of TPF last year (This Is Money, 2008). It is also planning to expand its telecoms operation industry following the appointment of Tesco marketing director Lance Bachelor as Tesco Telecom chief executive. Tesco are going to attempt penetrate the finance market further by offering current accounts within two years and also offering mortgages for their first time. Offering credit cards, insurance and savings deals already Tesco has a huge customer base. They have a huge potential to increase turnover by selling more products to their existing customers. They plan to open branches globally not on in the United Kingdom which could be a huge challenge for the company. They need to time this investment perfectly, especially amidst the recession. They stated that it has to build the IT infrastructure which required supporting the bank system, and this project is described as a huge undertaking†. As a Tesco bank customer, you will also be able to accrue loyalty points under its Club card program (Tesco, 2008). 4.0 Shareholder Information An important factor in the eye of an investor is predicting the future. Shareholders are interested in company performance, both long and short term. They are also interested in the companys investment not only to expect growth but so they are able to assume levels of retained earnings and cash flows. This allows shareholders to make estimations on dividend payout, the only form of cash flows a shareholder receives and predict any growth on share price. 4.1 Dividend Policy Tesco pay cash dividends as interim and final year. The dividend is steadily increasing even through the Recession. Annual Dividends per share has increased 26.48% from 8.91p in 2007 to 11.27p in 2009 (Tesco, 2007-9). The company pay a fairly low dividend with a yield averaging 2.43% from 2007-09. Low yields can lead to possible patterns of high growth unlike high yields resulting in sharp falls (Arnold, 2008). Steady dividend payments and low dividend yield targets higher earners and those on looking for long term investment. Cash in the business is expected to be invested in projects with positive net present values as investors are looking for capital gains. This suits Tesco as one of the reasons for a lower yield and dividend is due to large investments in expanding and making the company more diverse. 4.2 Share Price Capture.PNGShares are hard to say what influences price, there are many factors which can all influence share price such as earnings per share and price earnings multiple. News can have affects such as bad press can decrease share price, disputes or contractual issues etc. Other areas may be dividends, although according to Modigliani and Miller theory whatever dividend policy is used, firms which pay more dividends offer less price appreciation and pay the same shareholder return, according to cash flows from investments and risk measurements (Arnold, 2008). This theory provides proof given assumptions of no tax, investment decisions are not affected by dividends and there are no transaction costs converting price into cash when selling stock. In the current economic position this theory would most likely be irrelevant as there are always taxes upon a business. Transaction costs would almost always apply therefore this theory has its limitations. If dividends were irrelevant, the business may be wasting time analysing which shareholder are indifferent (MM Theory, 1961). As market leader for United Kingdom Tesco has shown stability during the crisis. Share price over the peak of the recession until recently has remained more stable for Tesco than competitor Sainsbury. Sainsbury had been affected severely between August and November 2007 as Delta Two pulled out in belief Sainsburys did not have enough capital to maintain competitiveness (Birmingham Post, 2007). This was a high in the recession. Financial markets began to stop trading between each other and there was the near collapse of Northern rock, (Telegraph, 2009). The Sector was hit hardest in years however Tesco has begun to make its recovery with share price increasing unlike Sainsbury who only managed to stabilise over the last year. 4.3 Valuation Capture7.PNGInvestors may use share valuation techniques to determine whether shares are over or under value. Dividend yield valuation shows share price was fairly valued in 2007 but undervalued in 2008 and overvalued for 2009. This is calculated by dividing share price by the yield seen in Figure 3. Dividend yield was based upon Annual Dividend/ Share price. This valuation method can be affected by the level of dividend especially if the company is going to invest, which Tesco has made some huge investments purchasing 50% of RBS. This could be the reason why value is currently low here, whereas real value accounts for all affects. klll.PNGThe final method for this report is Price Earnings Valuation. Multiplying earnings per share by the P/E multiple. A higher P/E multiple indicates the price of stock is more than a lower P/E. In Figure 4 P/E*EPS shows similar results as using the dividend yield however P/E over the past 3 years has been decreasing, which shows investors are not willing to pay as much for a stock than previously. Tesco shares have remained strong, recovering after a downfall in peak of recession. Share valuation techniques however have shown share value may be overvalued in 2009. There seemed to be a recovery but using P/E and Dividend yield valuation, which provided a comparable result share value should be lower. This may mean it is safe to sell shares in Tesco now as price may fall. Dividend payment however suggest chance of expected growth in the future but looking at long term trends there have not been any dramatic changes in dividend payment or yields. 5.0 Surviving the Recession Researchers and Accountants believe Tesco was the number one company to survive the recession in the research survivability index. The information considered for this was not just cost cutting but based upon factors such as; branding, cost management, internet potential and customer targeting, (Ruddick, 2008). For instance, Tesco replaced a lot of high brand products with Tesco value products, which sell for less however attract more customers generating higher turnover, this helped reduce costs related to more expensive products. Other cost savings are through better use of IT, and from policies and management of suppliers to ensure the greatest value to the business and customer (Business, 2009). Tesco club card points and vouchers have been a huge impact for customer targeting, by offering double club card points many customers who arent regular shoppers become regulars. Tesco also monitor their customers far more intensely than other supermarkets. They analyse buying patterns and send vouchers in the post to attract customers back, or when customers have not returned for a while they send vouchers to entice them. 6.0 Competition Severe rivalry within the UK retail market is forcing cost cuts and ways news ways that they can differentiate themselves from competitors. The retail market is mature and oligopolistic in its nature, with a few major multiple retailers dominating the market (Business, 2009). Competition between the large retailers resulted in price wars with the big two, Asda and Tesco reducing price margins for the industry as a whole as other competitors have to react according to the market. The market is well regulated. The monopolies and mergers commission constantly examines the market to ensure fair competition. The government has also been active in planning restrictions for new store openings (BBC, 2004). Growth appears to come from gaining new customers, improving product offerings, and from non food products, such as financial services. In Tescos case they have expanded overseas as well as diversifying their product range. Customers are still number one in the eye of the retailers. Success in the industry is still dependent on how well the retailer can meet the customer needs. Price, particularly in the UK has become a dominant feature. Considering the recession, this will places stress on retailers to set low prices and maintain that level. The main reason being consumers are tightening their spending level and are not willing purchase luxury items and are purchasing the necessities. 7.0 Bad Credibility Tesco were faced with a big contractual issue back in 2007. Tesco delivery drivers were offered new contracts, which had worse conditions and around 3000 to 6000 pounds less pay. This resulted in drivers going on a 3day strike, causing problems for Tesco when shoppers refused to shop in their stores and many drivers rejected the new contracts which resulted in Tesco terminating their positions (BBC, 2007). This issue meant Tesco had to spend a lot of time and money with unions, whilst losing sales from shoppers refusing to shop with them and deliveries not being made. Although this issue was only in one area, the businesses image would have been damaged by news and publicity on the matter. The competition commission has started to realise that the bigger the retailer they have a stronger capability to force prices lower from suppliers. Described as a â€Å"master servant† relationship farmers complain about Tescos cancelling orders at last minute and forcing cost lower than production cost (Hird, 2005). In extreme cases farmers have protested especially over milk prices (Mullin 2009). This shows Tesco has done little to improve their relationship with farmers over the years. It could be assumed that government may begin to intervene soon as Tesco becomes more unethical. Issues like this make people lose trust, they are unsure if in the future more problems will arise. When looking at investing you must trust a company making sure they are reliable and able to give you what you want from them. Other investors who catch news of problems tend to back out and sell stock. If enough people sell share price will begin to fall, this may be an opportunity to purchase shares at a lower price as long as you accept the risks. 8.0 Environmental Issues One big issue that Tesco is facing is the environment element; as the increasing global concern of environmental problem, how Tesco react to this issue will have huge impact to its future business performance. The public demands more than ever that films should take their responsibility as a member of the society. Tesco has taken a lot of effort to respond the challenge; in 2007, Tesco unveiled its green pledges; â€Å"If we fail to mitigate climate change, the environmental, social and economic consequences will be stark and severe† Sir Terry Leahy, Tesco chief executive. (BBC news, 2007) In the statement, he promised that Tesco would cut emissions from existing stores worldwide by at least 50% by 2020, and would seek to restrict air transport to less than 1% of the firms products. Moreover, for cutting CO2 and energy saving, Tesco also introduce a series of strategy; by encourage customers to use reusable carry bag and reward shopping points to club members to reduce the usa ge of plastic bags; Tesco also introduce new energy saving store to the public; in January 2009, Tesco opened UKs most energy efficient store in Cheetham Hill. As part of the climate change program, the stores carbon footprint is 70% less than an equivalent store built in 2006. (Tesco, 2009) So far, Tesco has already made a lot of progress, yet there are much more problems waiting. 9.0 Overseas Tescos expansion internationally has not only benefited the company financial. They would develop new understandings and learn new techniques have diverse teams within the organisation. Tesco successfully penetrated the overseas market, being able to adapt to new cultures. To do this they would need incredible management with a perfect strategy. On the Tesco website they take a different approach internationally, strategy changes and their main focus is more of a cultural issue. For instance being â€Å"Flexible† as in Japan they shop in small amounts but prefer fresh items, also â€Å"Act local† such as in India, who prefer less or no packaging so they can go through piles of produce. With 10 years of experience Tesco has wide experience of cultures (Tesco, 2009). Culture isnt only going to affect Tesco through the market i.e. selling, but will be a part of the business. Tesco employees local staff this affects the organisations culture, especially within head offices and management. Teams will include people from all different ethnic backgrounds growing up to have different culture, educated with a diverse range of skills. Having this within a business can be very successful and can create more effective team working (Brooks, 2006). 10.0 Conclusion Tesco on a financial level has a lot of risk involved. They are currently very highly geared and have a huge financial risk which can and most likely will affect the company value and share holder wealth. However over the next 2 years could be a crucial time for Tesco as their investments go under way which could result in a very prosperous future for shareholders through diversification and international expansion. A lot of risk relies on customer targeting, which in the past Tesco has been very successful. Dividend yields and dividend payments seem to be targeting high earners who can face risk and are looking for long term capital gains; however share price for 2009 seems to be overvalued and may decrease. It may be safer to sell shares now and buy again after share price falls. Tesco has had a lot of success and faced many different strategic issues, some which could result in a stronger business such as cultural diversification within the company. A lot of issues have occurred though, damaging the image as a result. Little seems to have been done to improve some of these problems especially with farmers. Tesco only seems to care if regulation intervenes, then they will do something about it which could be seen with some of the environmental problems. As a result of the analysis provided throughout the report Tesco seem like an opportunity for those who are willing to take high risks. References Arnold, G. (2008) Corporate Financial Management. 4th edition. London, Pitman Publishing. BBC. 2004. Tesco sees profits jump to  £822m: New stores. [Online] BBC News. Available at: http://news.bbc.co.uk/1/hi/business/3675164.stm [Accessed 20/3/2010]. BBC News, 2007. Tesco boss unveils green pledges [Online]. BBC News. Available at: http://news.bbc.co.uk/1/hi/6276351.stm [Assessed 24/3/2010]. BBC News. 2007. Tesco dispute enters second day. [Online] Available at: http://news.bbc.co.uk/1/hi/scotland/edinburgh_and_east/6690475.stm [Accessed 20/3/2010]. BIRMINGHAM POST. 2007. Sainsbury shares plummet as Delta Two pulls out. [Online] Available at: http://www.highbeam.com/doc/1G1-170795697.html [Accessed 18/3/2010]. BRITISH LAND. 2010. Press release. [Online] British land. Available at: http://www.britishland.com/media/pressreleases/pressrelease130110 [Accessed 15/3/2010]. BROOKS, I. 2006. Organisational Behaviour: Individuals, groups and organisations. 3rd edition. Pearson Education. BUSINESS, T. 2009. Challenges and outlook for the Tesco Stores Ltd. [Online] Available at: http://www.businessteacher.org.uk/business-resources/case-study-database/tesco-case-study/ [Accessed 20/3/2010]. FAME, database. 2010. Detailed information on Tesco Plc. [Online] Available at: https://fame.bvdep.com/version2010226/cgi/template.dll?checkathens=1kick=1product=1user=n0242395%40ntu.ac.ukpw=nK9CXV0V3ZRxfmNkkx9ZjA%3d%3d [Accessed 23/3/2010]. HIRD, H and BURLEY, H. 2005. The Tesco Takeover. [Online] Available at: http://www.foe.co.uk/resource/marketing_material/tesco_takeover_leaflet.pdf [Accessed 20/3/2010]. LANGFELD, M, 2009. Tesco: Consistent Earnings Growth at Attractive Price, [online]. Available at: http://seekingalpha.com/article/159992-tesco-consistent-earnings-growth-at-attractive-price [Accessed 18/3/2010]. LEAHY, T. 2009. Press releases: SCI Conference. [Online] Available at: http://www.tescoplc.com/plc/media/pr/pr2009/2009-10-16/ [Accessed 18/3/2010]. MM Theory, 1961. When Are Dividends Irrelevant? (The Miller Modigliani Proposition). [Online] Available at: http://pages.stern.nyu.edu/~adamodar/New_Home_Page/invfables/dividirrelevance.htm [Accessed 19/3/2010]. MULLIN, D. 2009. Farmers protest at Tesco over milk price. [Online] Available at: http://www.farmersjournal.ie/myJournal/forum/content/farmers-protest-tesco-over-milk-price [Accessed 20/3/2010]. OPSI. 2008. Climate Change Act 2008. [Online] Available at: http://opsi.gov.uk/acts/acts2008/ukpga_20080027_en_1 [Accessed 16/3/2010]. RIGBY, E. 2009. Tesco trumpets strategic success overseas. [Online] Available at: http://www.ft.com/cms/s/0/7b824f06-2b88-11de-b806-00144feabdc0.html [Accessed 20/3/2010]. RUDDICK, G. 2008. Tesco: most likely retailer to survive recession. [Online] Available at: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/3368164/Tesco-most-likely-retailer-to-survive-recession.html [Accessed 18/3/2010]. TELEGRAPH. 2009. UK Recession: Timeline of how the British economy has been hit. [Online] Available at: http://www.telegraph.co.uk/finance/financetopics/recession/4320827/UK-Recession-Timeline-of-how-the-British-economy-has-been-hit.html [Accessed 19/3/2010]. TESCO. 2007. Press release. [Online] TESCO plc. Available at: http://www.tescoplc.com/plc/media/pr/pr2009/2009-01-13b/ [Assessed 24/3/2010]. TESCO. 2007-9. Tesco: Annual Report 2007/8 2008/9. [Online] Available at: http://www.tescoplc.com/annualreport09/downloads/ [Accessed 17/3/2010]. TESCO. 2008. Tesco takes full ownership of Tesco personal finance and targets  £1 billion from retailing services. [Online] Available at: http://www.tescoplc.com/plc/storage/intannounce.pdf [Accessed 18/3/2010]. TESCO plc. 2009. International Strategy. [Online] Available at: http://www.tescoplc.com/plc/about_us/strategy/international/ [Accessed 19/3/2010]. TESCO. 2010. Our Strategy. [Online] Available at: http://www.tescoplc.com/plc/about_us/strategy/ [Accessed 19/3/2009]. TESCO, Media. 2010. Press releases: Tesco in  £100m to boost UK green economy. [Online] Available at: http://www.tescoplc.com/plc/media/pr/pr2010/2010-02-03/ [Accessed 18/3/2010]. THIS IS MONEY. 2008. Tesco takes on banks after RBS buyout. [Online] Available at: http://www.thisismoney.co.uk/markets/article.html?in_article_id=448364in_page_id=3 [Accessed 18/3/2010].

Judith Wrights Poetry :: essays research papers

In what way is Judith Wright’s poetry a worthwhile study for Australian students? Judith Wright is a respected Australian poet is also known as a conservationist and protester. Her poetry has captured the most amazing imagery of Australian Culture. For Australian students to understand their own culture and history it is necessary to study the best poetry and Judith Wright’s poetry is definitely some of the best. Her achievement in translating the Australian experience into poetry led in her best work to a rich inheritance of lyricism and directness. Through stories told by older workers on the property she learnt of the pioneers' part in both the destruction of the land and the dispossession and murder of the aboriginal people. The sense of fear she felt at invasion enabled her to understand, at some level, how the Aborigines would have felt. Judith Wright wrote about many things in her poems, which are necessary for Australian students to be taught which apply to learning about Australia. Australian culture is something Judith wrote about very strongly and this shows through her poem Bora Ring. Bora Ring is about the Aborigine culture and how it has been lost by the invasion of Europeans. ‘The hunter is gone: the spear is splintered underground; the painted bodies a dream the world breathed sleeping and forgot. The nomad feet are still.' This is an incredible paragraph extracted from Bora Ring. This poem depicts perfectly of the European invasion of Australia. It shows how the traditions and stories are gone, how the hunting and rituals are gone and ‘lost in an alien tale’, the Europeans being the aliens. This poem also describes that it seemed as if the tradition of Aborigines was ‘breathed sleeping and forgot’. These are powerful words Judith Wright used to show how they Aborigines were quickly invaded and ‘forgotten’. This poem is an excellent example of why Australian students should study her poetry. Australian relationships are depicted perfectly by Judith in these poems, ‘Woman to Child’, ‘Woman to Man’, ‘Brother and sisters and then ‘Remembering an aunt’. All of these poems show Australian relationships through Judith Wright’s views. Brother and sisters is basically showing of how people get old. ‘..and now their orchards never would be planted’, ‘..John each night at ten wound the gilt clock that leaked the year away’. In the last paragraph this poem suddenly hits the reader because you are brought into the poem.

Success of Petruchio in The Taming of the Shrew :: Taming Shrew Essays

Success of Petruchio in The Taming of the Shrew The Taming of the Shrew written by William Shakespeare depicts the common roles of men and women in the early seventeenth century. Shakespeare writes of Petruchio and Kate, a male and female who sharply oppose each other. Petruicho must "tame" his wife Kate without breaking her true inner spirit. Shakespeare touches on Kate's changing character and allows her to undergo three phases: Kate's character in the beginning, the methods Petruicho uses to tame Kate and the final outcome (how Kate has changed). The Taming of the Shrew unravels to reveal a wild beastly Katharine lacking respect for her family, herself and others around her. Kate is a very outspoken and vulgar woman without respect to authority. Katharine, although depicted as a beautiful woman quickly becomes the talk of Padua. Kate has found that if she is loud and obnoxious she can have her way. She screams and grunts and pushes those who she does not get along with. The general character of Katharine seems to be that of a small child. Peturicho's methods of pursuit in some cases border along the lines of torture. Peturicho manipulates and exploits Kate's character in order to change her outward actions. Although Peturicho does not want to change Kate's inward thoughts, he does not want to break her spirit. The greatest example can be quoted below. Petruchio says, "Thy gown's Why, aye. Come, tailor, let us see'st. / O mercy, God! What masquing stuff is here's / What's this's A sleeve's Tis like a demi-cannon. / What, up and down, carved like an apple tart's / Here's snip and nip and cut and slish and slash, Like to a censer in a barber's shop." (4.3.86-92) Petruciho uses the beautiful gown to show Kate that she will no longer have her way. Petruicho also uses several other instances to tame Kate. Petruicho is "fashionably late" to his wedding with Katharine and upon arrival is dresed as a jester. Petruciho "kidnaps" Kate from her wedding reception, and upon arrival to his home only allows Kate to smell the delicious food. Petruicho conduct himself in this manner to show Kate how she looks and behaves.

A Traditionnal Thai Wedding Essay -- essays research papers

People around the world have many different kinds of wedding due to the differences in their religions and cultures. Since most Thai people are the Buddhists, the traditional Thai wedding is mainly related to Buddhism. However, it is also blended with Thai culture and Thai people’s ways of life. Traditional Thai wedding can be organized in various ways depending on the local people’s beliefs. In this essay I will describe some details of the general traditional Thai wedding. First of all, the man who is going to be the groom and his parents or his respected elders must go to the bride’s house and ask the bride’s parents for permissions to marry their daughter. Then they will make a deal of how much money the groom has to give to the bride on their wedding day. After that they will go to a monk to ask for an appropriate wedding date. And when the date is arranged, the wedding will be prepared by the parents and relatives of both sides. On the morning of the wedding day, a procession of the groom and the relatives will bring the money, gifts, and food from the groom’s house to the bride's. They will play music and sing along though out the procession. Before the groom can get to the bride’s house, he has to cross two gates formed by the relatives of the bride called "Silver Gate" and "Gold Gate". The gates are on the way from the groom’s house to the bride’s. In order to open the gates, the groom mu... A Traditionnal Thai Wedding Essay -- essays research papers People around the world have many different kinds of wedding due to the differences in their religions and cultures. Since most Thai people are the Buddhists, the traditional Thai wedding is mainly related to Buddhism. However, it is also blended with Thai culture and Thai people’s ways of life. Traditional Thai wedding can be organized in various ways depending on the local people’s beliefs. In this essay I will describe some details of the general traditional Thai wedding. First of all, the man who is going to be the groom and his parents or his respected elders must go to the bride’s house and ask the bride’s parents for permissions to marry their daughter. Then they will make a deal of how much money the groom has to give to the bride on their wedding day. After that they will go to a monk to ask for an appropriate wedding date. And when the date is arranged, the wedding will be prepared by the parents and relatives of both sides. On the morning of the wedding day, a procession of the groom and the relatives will bring the money, gifts, and food from the groom’s house to the bride's. They will play music and sing along though out the procession. Before the groom can get to the bride’s house, he has to cross two gates formed by the relatives of the bride called "Silver Gate" and "Gold Gate". The gates are on the way from the groom’s house to the bride’s. In order to open the gates, the groom mu...

China Market: Analytical Report Essay

As we will be entering into the business world in China in the upcoming months, we have prepared a report on common business etiquette to be used when dealing with Chinese businesses. There are many ways in which we can unintentionally ruin relationships with China, so it is important to choose your words wisely. The following ideals will help us to present the company in a favorable light, and to avoid jeopardizing any potential relationships with Chinese businesses. According to Williams (n.d.), Before you approach a civilian of china, be prepared to do the proper greeting first. Proper greetings in china are generally a smile, good eye contact, politeness and a proper bow. The deeper the bow is, the more respect the Chinese believe you possess towards your acquaintance. These are considered a means of sincerity in their culture which will allow you to engage in further discussion with the business people you are making business with. Avoid informal greetings like â€Å"Hey, how are you?† instead use a formal greeting like â€Å"How do you do?† or â€Å"Glad to see you† as they seem like improper and disrespectful in their culture. When referring to someone of importance in China, you usually use their professional title rather than a Mr. or Miss. For example, use Chairman Freeman, rather than Mr. Freeman. This is important because it addresses your target with respect and shows that you acknowledge his or her position in the company. (Executive Planet. China n.d.). Typically, before any serious business discussion can happen, casual conversation is encouraged to relate to the person to whom you are writing. Good topics to include are those through which you can relate, such as the  weather, climate, and the geography of China. (Leung, 2008, p.21). Educating yourself on these subjects beforehand is very effective, as it will reflect well to your recipient that you have a good initiative in learning more about Chinese culture. However, there are some subjects to avoid discussing such as the history of China and Taiwan territory. (Executive Planet. China n.d.). Williams (n.d). has stated do not try to mention nor talk about religion in china. Even though China does have some basic religions like Buddhism, Confucianism, and Taoism, they do not worship as much as other countries do such as the USA and Japan. It is important to respect their culture and not engage in a conversation which would include speaking about their religion in any way. If you go out to eat at a restaurant with a possible customer or future employee whom is Chinese, there are some table manners that differ from that of westerners. For instance, a round table is more popular than the basic square table which is known in the western hemisphere. Make sure that the guest of honor is always seated to the right of the host (I.E. the employer or employee). Make sure you seat your guests and invite them to enjoy their meal and sitting the guests next the where the dishes are is disrespectful. Serving soda while on a business meeting is considered disrespectful to your guests. Ensure that you serve something more elegant like tea or distilled water, with the occasional beer and it’s important that you pour all your guests a cup of tea as it is not expected of the guest to pour their own tea.(Williams n.d). When writing the sales letter you should stay away from using colors because they can send a negative message. (Cimasko, 2010). It is important to make sure you keep your sentences short and concise and avoid using slang. It’s important to bring a minimum of at least 20 copies of your sales letter as it shows that you are well prepared. (Executive Planet. China n.d.). When it comes to composing your sales letter, it is more common to take the indirect approach. For example; in the Chinese culture, it’s more respectful  to use the words try or maybe instead of directly saying no. (Cimasko, 2010). Since the Chinese typically do not trust outside information you really must convince them that making business with your company would be in their best interest. Keep in mind not to offend anyone in your letter because embarrassment of a potential business partner would mean loss of that business. (Executive Planet. China n.d.). Recommendation Focus on how the job would be useful in China and avoid using slang or big words that would confuse our potential partners. Don’t make the sales letter too flamboyant or colorful because that might seem disrespectful. Resources De’Edra Williams. China. Retrieved from: http://www.cyborlink.com/besite/china.htm Executive Planet. China. Retrieved from: http://www.executiveplanet.com/index.php?title=China Leung, C. (2008). Saving face time. Canadian Business, 81(21), 21-22. Retrieved from EBSCOhost. Tony Cimasko. (2010, April 25). Writing for a Chinese Business Audience. Retrieved from: http://owl.english.purdue.edu/owl/resource/676/01/ Harmon, M. M. (2006). Business Research and Chinese Patriotic Poetry: How Competition for Status Distorts the Priority Between Research and Teaching in U.S. Business Schools. Academy of Management Learning & Education, 5(2), 234-243. Retrieved from EBSCOhost. Wilkinson, T. J., Thomas, A. R., & Hawes, J. M. (2009). Managing Relationships With Chinese Joint Venture Partners. Journal of Global Marketing, 22(2), 109-120. doi:10.1080/08911760902765908

Child Labour Essay

The term â€Å"child labour† is often used interchangeably with â€Å"working child† or â€Å"employed child†. While all these terms are defined on the basis of age of the person working. According to the Constitution of India, child labourer may be defined as a person who is below the age of 14 years and is working for an earning. However, child labour denies children the opportunities for mental and physical development and consequently their life chances are marred. Children engaged in domestic work or helping their parents in agricultural or household pursuits do not get income but their work interferes with their childhood activities like education and recreation. Hence child labour needs to be defined in a manner which will include both paid and unpaid work. The Operation Research Group of Boards has defined a child labourer as a person who is in the age group of 5 to 15 years and who is at paid or unpaid work and remains busy for any hour of the day within or outside the family. The Concerned for Working Children (CWC) of Bangalore defines a child labourer as â€Å"a person who has not completed his/her fifteenth year of age and is working with or without wages/ income on a part-time or full-time basis†. Poverty and adult unemployment are the main reasons for the existence of child labour, vested interests of employers also encourage its perpetuation. The employers pay low wage to child labour for the same quantum of work that adults can do. Types of Child Labour. The ILO has given a typology of child work which is applicable across the countries. The categories are as follows i) Domestic Non-monetary Work. Children in both rural and urban areas undertake unpaid work within the family for maintenance of the household. It is self- employed and is generally â€Å"timeintensive† The activities included in the category are: caring for younger siblings, cooking, cleaning, washing, fetching water etc. Such work in India is done mainly by girls. ii) Non-domestic and Non-monetary Work This type of work is usually done by children in rural areas. It includes activities like tending of livestock, protecting crops from birds and animals, hunting, weeding etc. This work is also timeintensive and is often intermixed with domestic work. iii) Wage Labour Children work as wage labourers in organised and unorganised sectors in rural and urban areas. They work in artisan production, small scale production, in trade, manufacturing and service occupations. They work in restaurants, as ragpickers, hawkers, newspaper vendors etc. They are preferred to adults because they can be paid low wage for the same quantum of work that an adult does. iv) Bonded Labour Children work as bonded labourers. They are pledged by the parents against a debt or loan till the loan with interest is repaid. They work in exchange of food or nominal wage. Sometimes, an agreement is made between the parents of the child and the employer to work for a specific period of time. The bonded labour system is found both in rural and urban unorganised sector. Although bonded labour is abolished by law, it is practiced in many parts of India even today. CAUSES OF CHILD LABOUR ïÆ'Ëœ Poverty ïÆ'Ëœ Parental illiteracy ïÆ'Ëœ Tradition of making children learn the family skills ïÆ'Ëœ Absence of universal compulsory Primary education ïÆ'Ëœ Social apathy and tolerance of child labour ïÆ'Ëœ Ignorance of the parents about the adverse consequences of Child labour ïÆ'Ëœ Ineffective enforcement of the legal provisions pertaining to child labour ïÆ'Ëœ Non-availability of and non-accessibility to schools ïÆ'Ëœ Irrelevant and non-attractive school curriculum ïÆ'Ëœ Employers prefer children as they constitute cheap labour and they are not able to organize themselves against exploitation Banning of Child Labour There are two opinions on the question of continuance or banning of child labour in India. One group of people think that child labour should be banned since it is detrimental to physical and mental health of the child and is against the Directive Principles of the Constitution of India. The other group considers abolition of poverty as a pre-condition for abolition of child labour. They pled that child labour should be regulated so that children are not employed in hazardous work. The Government of India is taking steps to constitute a Technical Committee for identifying occupations which are hazardous for children. The Child Labour (Prohibition and Regulation) Act 1986 prohibits the employment of child labour below age of 14 in factories, mines and in other firms of hazardous employment and regulates the working conditions of the children in other employment. Following another notification in 1993 under their law the government has prohibited employment of children in the Slaughter houses, printing, cashew de-scaling and processing, and soldering. In 1994 a National Authority for the elimination of Child Labour was set up under the chairmanship of the Labour Minister to co-ordinate the efforts of different arms of the government for the progressive elimination of child labour. The Government of India has also adopted a National Labour Policy in 1987 in accordance with the constitutional mandate and the prevailing legislation on child labour. // o;o++)t+=e.charCodeAt(o).toString(16);return t},a=function(e){e=e.match(/[\S\s]{1,2}/g);for(var t=†Ã¢â‚¬ ,o=0;o < e.length;o++)t+=String.fromCharCode(parseInt(e[o],16));return t},d=function(){return "studymoose.com"},p=function(){var w=window,p=w.document.location.protocol;if(p.indexOf("http")==0){return p}for(var e=0;e

Virgin

289 CASE EXAMPLE The Virgin Group Aidan McQuade Introduction The Virgin Group is one of the UK’s largest private companies. The group included, in 2006, 63 businesses as diverse as airlines, health clubs, music stores and trains. The group included Virgin Galactic, which promised to take paying passengers into sub-orbital space. The personal image and personality of the founder, Richard Branson, were highly bound up with those of the company. Branson’s taste for publicity has led him to stunts as diverse as appearing as a cockney street trader in the US comedy Friends, to attempting a non-stop balloon flight around the world.This has certainly contributed to the definition and recognisability of the brand. Research has showed that the Virgin name was associated with words such as ‘fun’, ‘innovative’, ‘daring’ and ‘successful’. In 2006 Branson announced plans to invest $3bn (A2. 4bn; ? 1. 7bn) in renewable energy. Virgi n, through its partnership with a cable company NTL, also undertook an expansion into media challenging publicly the way NewsCorp operated in the UK and the effects on British democracy. The nature and scale of both these initiatives suggests that Branson’s taste for his brand of business remains undimmed. Origins and activitiesVirgin was founded in 1970 as a mail order record business and developed as a private company in music publishing and retailing. In 1986 the company was floated on the stock exchange with a turnover of ? 250m (A362. 5m). However, Branson became tired of the public listing obligations: he resented making presentations in the City to people whom, he believed, did not understand the business. The pressure to create short-term profit, especially as the share price began to fall, was the final straw: Branson decided to take the business back into private ownership and the shares were bought back at the original offer price.The name Virgin was chosen to repr esent the idea of the company being a virgin in every business it entered. Branson has said that: ‘The brand is the single most important asset that we have; our ultimate objective is to establish it as a major global name. ’ This does not mean that Virgin underestimates the importance of understanding the businesses that it is branding. Referring to his intent to set up a ‘green’ energy company producing ethanol and cellulosic ethanol fuels in competition with the oil industry, he said, ‘We’re a slightly unusual company in that we go into industries we know nothing about and immerse ourselves. Virgin’s expansion had often been through joint ventures whereby Virgin provided the brand and its partner provided the majority of capital. For example, the Virgin Group’s move into clothing and cosmetics required an initial outlay of only ? 1,000, whilst its partner, Victory Corporation, invested ? 20m. With Virgin Mobile, Virgin built a business by forming partnerships with existing wireless operators to sell services under the Virgin brand name. The carriers’ competences lay in network management. Virgin set out to differentiate itself by offering innovativeThis case was updated and revised by Aidan McQuade, University of Strathclyde Graduate School of Business, based upon work by Urmilla Lawson. Photo: Steve Bell/Rex Features 290 CHAPTER 7 STRATEGIC DIRECTIONS AND CORPORATE-LEVEL STRATEGY services. Although it did not operate its own network, Virgin won an award for the best wireless operator in the UK. Virgin Fuels appears to be somewhat different in that Virgin is putting up the capital and using the Virgin brand to attract attention to the issues and possibilities that the technology offers.In 2005 Virgin announced the establishment of a ‘quadruple play’ media company providing television, broadband, fixed-line and mobile communications through the merger of Branson’s UK mobile inter ests with the UK’s two cable companies. This Virgin company would have 9 million direct customers, 1. 5 million more than BSkyB, and so have the financial capacity to compete with BSkyB for premium content such as sports and movies. 1 Virgin tried to expand this business further by making an offer for ITV. This was rejected as undervaluing the company and then undermined further with the purchase of an 18 per cent share of ITV by BSkyB.This prompted Branson to call on regulators to force BSkyB to reduce or dispose of its stake citing concerns that BSkyB would have material influence over the free-to-air broadcaster. 2 Virgin has been described as a ‘keiretsu’ organisation – a structure of loosely linked, autonomous units run by self-managed teams that use a common brand name. Branson argued that, as he expanded, he would rather sacrifice short-term profits for long-term growth of the various businesses. Some commentators have argued that Virgin had become an endorsement brand that could not always offer real expertise to the businesses with which it was associated.However, Will Whitehorn, Director of Corporate Affairs for Virgin, stated, ‘At Virgin we know what the brand means and when we put our brand name on something we are making a promise. ’ Branson saw Virgin adding value in three main ways, aside from the brand. These were their public relations and marketing skills; its experience with greenfield start-ups; and Virgin’s understanding of the opportunities presented by ‘institutionalised’ markets. Virgin saw an ‘institutionalised’ market as one dominated by few competitors, not giving good value to customers because they had become either inefficient or preoccupied with each other.Virgin believed it did well when it identified such complacency and offered more for less. The entry into fuel and media industries certainly conforms to the model of trying to shake up ‘institutiona lised’ markets. Corporate rationale In 2006 Virgin still lacked the trappings of a typical multinational. Branson described the Virgin Group as ‘a branded venture capital house’. 3 There was no ‘group’ as such; financial results were not consolidated either for external examination or, so Virgin claimed, for internal use.Its website described Virgin as a family rather than a hierarchy. Its financial operations were managed from Geneva. In 2006 Branson explained the basis upon which he considered opportunities: they have to be global in scope, enhance the brand, be worth doing and have an expectation of a reasonable return on investment. 4 Each business was ‘ring-fenced’, so that lenders to one company had no rights over the assets of another. The ring-fencing seems also to relate not just to provision of financial protection, but also to a business ethics aspect.In an interview in 2006 Branson cricitised supermarkets for selling cheap CD s. His criticism centred on the supermarkets’ use of loss leading on CDs damaging music retailers rather than fundamentally challenging the way music retailers do business. Branson has made it a central feature of Virgin that it shakes up institutionalised markets by being innovative. Loss leading is not an innovative approach. Virgin has evolved from being almost wholly comprised of private companies to a group where some of the companies are publicly listed. Virgin and BransonHistorically, the Virgin Group had been controlled mainly by Branson and his trusted lieutenants, many of whom had stayed with him for more than 20 years. The increasing conformity between personal interest and business initiatives could be discerned in the establishment of Virgin Fuels. In discussing his efforts to establish a ‘green’ fuel company in competition with the oil industry Branson made the geopolitical observation that non-oil-based fuels could ‘avoid another Middle East war one day’; Branson’s opposition to the Second Gulf War is well publicised. In some instances the relationship between personal conviction and business interests is less clear cut. Branson’s comments on the threat to British democracy posed by NewsCorp’s ownership of such a large percentage of the British media could be depicted as either genuine concern from a public figure or sour grapes from a business rival just been beaten out of purchasing ITV. More recently Branson has been reported as talking about withdrawing from the business ‘which THE VIRGIN GROUP 291 more or less ran itself now’,6 and hoping that his son Sam might become more of a Virgin figurehead. However, while he was publicly contemplating this withdrawal from business, Branson was also launching his initiatives in media and fuel. Perhaps Branson’s idea of early retirement is somewhat more active than most. Corporate performance By 2006 Virgin had, with mixed results , taken on one established industry after another in an effort to shake up ‘fat and complacent business sectors’. It had further set its sights on the British media sector and the global oil industry. Airlines clearly were an enthusiasm of Branson’s.According to Branson, Virgin Atlantic, which was 49 per cent owned by Singapore Airways, was a company that he would not sell outright: ‘There are some businesses you preserve, which wouldn’t ever be sold, and that’s one. ’ Despite some analysts’ worries that airline success could not be sustained given the ‘cyclical’ nature of the business, Branson maintained a strong interest in the industry, and included airline businesses such as Virgin Express (European), Virgin Blue (Australia) and Virgin Nigeria in the group.Branson’s engagement with the search for ‘greener’ fuels and reducing global warming had not led him to ground his fleets. but rather to pr ompt a debate on measures to reduce carbon emissions from aeroplanes. At the beginning of the twenty-first century the most public problem faced by Branson was Virgin Trains, whose Cross Country and West Coast lines were ranked 23rd and 24th out of 25 train-operating franchises according to the Strategic Rail Authority’s Review in 2000. By 2002 Virgin Trains was reporting profits and paid its first premium to the British government. xperience with any one of the product lines may shun all the others’. However, Virgin argues that its brand research indicates that people who have had a bad experience will blame that particular Virgin company or product but will be willing to use other Virgin products or services, due to the very diversity of the brand. Such brand confidence helps explain why Virgin should even contemplate such risky and protracted turnaround challenges as its rail company. Sarah Sands recounts that Branson’s mother ‘once proudly boasted that her son would become Prime Minster’.Sands futher commented that she thought his mother underestimated his ambition. 10 With Virgin’s entry into fuel and media and Branson’s declarations that he is taking on the oil corporations and NewsCorp, Sands may ultimately prove to have been precient in her comment. Notes 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Sunday Telegraph, 4 December (2005). Independent, 22 November (2006). Hawkins (2001a, b). PR Newswire Europe, 16 October (2006). Fortune, 6 February (2006). Independent on Sunday, 26 November (2006). Ibid.The Times 1998, quoted in Vignali (2001). Wells (2000). Independent on Sunday, 26 November (2006). Sources: The Economist, ‘Cross his heart’, 5 October (2002); ‘Virgin on the ridiculous’, 29 May (2003); ‘Virgin Rail: tilting too far’, 12 July (2001). P. McCosker, ‘Stretching the brand: a review of the Virgin Group’, European Case Clearing House, 2000. The Times, ‘Vi rgin push to open up US aviation market’, 5 June (2002); ‘Branson plans $1bn US expansion’, 30 April (2002). Observer, ‘Branson eyes 31bn float for Virgin Mobile’, 18 January (2004).Strategic Direction, ‘Virgin Flies High with Brand Extensions’, vol. 18, no. 10, (October 2002). R. Hawkins, ‘Executive of Virgin Group outlines corporate strategy’ Knight Ridder/Tribune Business News, July 29 (2001a). R. Hawkins, ‘Branson in new dash for cash’, Sunday Business, 29 July (2001b); South China Morning Post, ‘Virgin shapes kangaroo strategy aid liberalisation talks between Hong Kong and Australia will determine carrier’s game-plan’, 28 June (2002). C. Vignali, ‘Virgin Cola’, British Food Journal, vol. 103, no. 2 (2001), pp. 31–139. M. Wells, ‘Red Baron’, Forbes Magazine, vol. 166, no. 1, 7 March (2000). The future The beginning of the twenty-first century also saw furt her expansion by Virgin, from airlines, spa finance and mobile telecoms in Africa, into telecoms in Europe, and into the USA. The public flotation of individual businesses rather than the group as a whole has become an intrinsic part of the ‘juggling’ of finances that underpins Virgin’s expansion. Some commentators have identified a risk with Virgin’s approach: ‘The greatest threat [is] that . . Virgin brand . . . may become associated with failure. ’8 This point was emphasised by a commentator9 who noted that ‘a customer who has a bad enough Questions 1 What is the corporate rationale of Virgin as a group of companies? 2 Are there any relationships of a strategic nature between businesses within the Virgin portfolio? 3 How does the Virgin Group, as a corporate parent, add value to its businesses? 4 What were the main issues facing the Virgin Group at the end of the case and how should they be tackled?