The Mistake of the Month Essay Example | Topics and Well Written Essays - 250 words - 1

The Mistake of the Month - Essay Example Paine decides to start up a program that would help members admit their mistakes, and come up with solutions that would help them avoid making the same mistakes again (Lee, 2009). During the implementation of the program, Paine discovers that at least 2000 mistakes have been reported, and that very few were repeated (Lee, 2009), such an observation proved to Paine that the winning practice was effective. On the other hand, Sen, Choudhury & Nelakuditi (2011), explain that listening is one of the most essential skills that are needed for effective leadership and communication. It is always important that people evaluate the consequence of their words before they get the opportunity to speak them out, this way; they can avoid some common mistakes that would arise when such care is not carefully followed. Consequently, it is important to understand that mistakes are part of everyday human life; the ability to learn from previous mistakes and avoiding them is important for everyone. One of the ways of being understood is careful listening and attention to detail in every conversation, it is only through this that effective leadership skills can be nurtured in

Luck and Fate in Fyodor Dostoevsky's Crime and Punishment Essay

Luck and Fate in Fyodor Dostoevsky's Crime and Punishment - Essay Example A self-confessed drunkard, a widower with a daughter from his first wife and later on remarried to Katerina Ivanovna, a widow who had three children from her previous husband, believed that it was his fate to be a drunkard to the point that he had sold most of his possessions including some of his wife’s valued possessions (Dostoevsky 16-17). In acceptance of his fate as a hopeless drunkard, Marmeladov claimed, â€Å"Such is my fate! Do you know, sir, do you know, I have sold her very stockings for drink?. (Dostoevsky 17)† But later on reasons out that his drinking is a self-inflicted suffering to pay for his sins to his wife and children as he claimed, â€Å"Thats why I drink too. I try to find sympathy and feeling in drink.. . I drink so that I may suffer twice as much! (Dostoevsky 17)† On a close examination of Marmeladov’s behavior, he blaming his fate of loving alcohol too much was his excuse for behaving as he had confessed. Likened to a McLaughlin quote saying that, â€Å"The chief reason for drinking is the desire to behave in a certain way, and to be able to blame it on alcohol,† (Guillemets) Marmeladov blames his actions to his drinking and not entirely taking the blame to himself. On the contrary, Marmeladov, instead of putting the blame on his drinking and lamenting his fate at the tavern, should at least make efforts to retain his job better yet to accept that his family problems are his fault and that he can make a way to at least feed his children and tend to his ailing wife. Also, he should have thought of these problems when he is sober and not when he was drunk since he would eventually forget all his thoughts when the effects of his drink wear off. Marmeladov’s alcoholism had developed into a family problem. Accordingly, alcoholics may have young, teenage, or grown-up children; they have wives or husbands; they have brothers or sisters; they have parents or other relatives. An alcoholic can totally disrupt family life and cause

Nestlé industry

Nestlà © industry Executive Summary Nestlà © is the largest food and beverage industry in the world. Its revenue in million in 2008 were 89,630.00, they employ over 276000 people around the world. (Global 500) Their goals are to produce good, healthy, and tasty foods which are consisted of important nutrients. (Nestlà © South Africa) These features make Nestlà © a unique business which profits by offering products which gives satisfactions to all customers. After we skimmed through the Fortune 500 list of the companies, there were a lot of choices of well known companies, however, we picked up Nestlà © Corporation. Since we grow up with Nestlà ©s products which are nutritional and healthy products, and at the same time very tasty, it seemed interesting for us to do the project about this well known Corporation. The most important issue facing our company today is to maintain the quality of our products and continue to maintain our strong brand name known for its healthy products. Business Mission Vision According to the founder of Nestlà ©, Henri Nestlà ©, Nestlà ©s mission is to: positively influence the social environment in which we operate as responsible corporate citizens, with due regard for those environmental standards and societal aspirations which improve quality of life. Furthermore, the vision and values of Nestlà © are to make Nestlà © a leading, competitive, Nutrition, Health and Wellness Company delivering improved shareholder value by being a preferred corporate citizen, preferred employer, preferred supplier selling preferred products. (Nestlà © South Africa) Description of the Business The address of corporate headquarters is: Ave, Nestle 55 Vevey 1800, Switzerland. Nestlà © operates in 83 countries, in five continents. It has more than 509 factories out of which 220 are located in Europe, 153 in America, 136 in Africa Oceania (MARKETING PROCESS OF NESTLE CORPORATION) According to the official website of the Company, Nestlà © was formed by Henry Nestlà © in 1867. He was a pharmacist. In the beginning he started to produce milk food for newborn babies, which was the first milk cereal for children. The company was located in Switzerland, where the actual largest headquarter is located even today. Then, in short period the company started to grow and expand, and also offering a large variety of products. Nowadays, the company is a corporation which has multiple stockholders. Throughout its existence, Nestlà © has merged with some international companies. For example, in 1905 merged with a Anglo-Swiss milk company. (MARKETING PROCESS OF NESTLE CORPORATION) In 1998 Nestlà © purchased the UK largest chocolate factory, then it made some other agreements with some other companies. In 2002, Nestlà © made a partnership with Coca-Cola, then with General Mills, LOreal. These mergers helped Nestlà © expand their market shares on the global international market. (Nestlà ©.) The brand name of Nestlà © comes from Henries surname. It is a short name which can be easily remembered. It is a well known and everyone can identify its logo. The quality of Nestlà ©s products made the brand easily identified, including the slogan of the brand, Good Food, Good Life. Since Nestlà © is a company which operates in the global market, it means that its products are spread worldwide and they are available whenever consumers need them. Nestlà © over the time has developed and continues to maintain a strong reputation on the Food Industry. We consider that Nestlà © is on the stage of brand insistency. This means that costumers insist on getting Nestlà ©s products, and this is considered to be a big advantage for the company. (Nestlà ©) The legal status of Nestlà © is a corporation, which is a business that includes stockholders. The main headquarter of Nestlà © is in Switzerland; Peter Brabeck-Letmathe is the CEO. According to the Global 500, the stockholders equity is 46,006.2 million dollars. (Global 500) The board of directors represents the stockholder on managing the corporation. Nestlà © deals with manufacturing of products, thus, its type of business is manufacturing. Nestlà © produces a fairly similar group of individual products. Its products are produced on similar ways, they have fairly similar prices, which make up a great product line. They produce milk and chocolate products, water, baby food, coffee, and so on. Since Nestlà © is a huge corporate, they produce on large amounts. We know that when a product is being produced in large amount, its production costs are lower, comparing to products produced on small amounts, thus these lower production costs leads Nestlà © to bring its products on the market with reasonable prices, from which the consumers benefit directly. Furthermore, they use a production program which includes green technology (environmental friendly technology) that saves electricity, does not pollute the air which leads to consumers benefits. They sell different types of chocolates, ice creams, coffees, natural water, baby food, flavored milks, etc. Some of the products offered from Nestlà © are NESCAFÉ, NESQUIK, Hot Chocolate, Cocoa, Chocolates, AERO BAR ONE Chocolate Assortments CHOCOLATE LOG CLASSIC Slabs CRISP CRUNCH Baking Chocolate KIT KAT TEX MILKY BAR MILO Nestlà © GOLD ROLO SMARTIES SUCROSE FREE Powdered Milk, Nutren Shakes Convalescing Malnourishment Diabetes Supplements Critical Care Nestlà © Baby Foods, CERELAC Gold CERELAC NESTUM Infant Formula Nestlà © Waters, Still Sparkling Flavoured Water Dispensers Imports Ice Cream, Impulse Take Home Out of Home Nestlà © Cereals, and so on. Consumers may benefit in different ways from buying Nestlà ©s products. From the consumers point of view, when we decide to buy something to eat or drink, we want to get the most satisfaction from it. Thus, we look at its price first, then its ingredients, if it is nutritious, if it is tasty, and healthy. Since Nestlà ©s company objective is to produce healthy, tasty, nutritious food, and they offer them at reasonable prices, we conclude that consumers benefit by buying Nestlà © products. Nestlà ©s products are considered as high quality products. Furthermore the raw material for example for chocolate, milk is purchased only from the milk producers who grow and give food to their cows in natural ways. All Nestlà © products are demanded, because Nestlà © first makes research and market analysis then starts to produce its products. But still chocolate products are the most demanded products from Nestlà ©. In order for Nestlà © to grow and expand its market share is to follow up and to adapt to the current trends that are affecting the food industry. For example, the trend of customers demanding low and no fat products is increasing, and if Nestlà © develops a strategy to adapt and expand production of low and no fat products, this would be a growth opportunity. Franchising is perceived as a way for companies to expand on other markets. In our case, this also would be a growth opportunity, however, they should supervise and control and see if the franchisee is maintaining the quality standards that the Nestlà © Company sets to them. Also Nestlà © officials should make sure that the franchisees are maintaining the prestige and the reputation of the brand. The corporate goals and objectives are to maximize their profits. They tend to achieve this by meeting consumers demand, by offering nutritional products which taste good, coping up with trends. There are many resources for producing products related to food industry. Nestlà ©s success is reliant on fresh milk, cocoa, sugar, water, power supply, materials related packaging, technology, transportation modes. Suppliers define success when there is a huge demand for their products, while the stakeholders define success if they achieve to increase the market shares, having enough resources to meet the demand, and maximizing profits by increasing sales. Market Analysis Nestlà ©s primary target is considered to be people of all ages. In this range there are included infants, children, teenagers, adults, and elderly people. If we take age into consideration, we conclude that it is a factor that distinguishes the consumers, since Nestlà ©s has products made especially for infants, while on the other hand we have other products which are targeted to athletes, or to adults, such as coffee. Despite of the age, gender, income, and education level are not factors to be included in targeting Nestlà © consumers. There is not a special product of Nestlà © which is dedicated to males or females, or to people with different levels of education, while when it comes to income, since our products are not expensive, we dont consider income a factor to target Nestlà ©s products. From the consumers point of view, we define Nestlà © as a successful company if they meet our demands, they always supply us with new products, we find Nestlà ©s products easily and with a fair price. Also, a factor of Nestlà ©s success would be seen if they are aware of social responsibility meaning that they should care more for the benefits of the society as a whole and not only for companies profits. In general, the food industry is in the level of steady market that does not necessarily grow since people always use food products because they are necessity goods which no one can substitute them with something else. Furthermore, even if Nestlà © is always bringing new products on the market, since the population is still growing, we cannot say that it is being placed on the growing level. SWOT analysis Strengths Nestlà © has a very organized structure, it manages to lead in an effective way more than 276 000 employees and that requires great organizational skills. Thus, one of the strengths of the company is considered to be the organizational structure, Nestlà © is divided in sectors and each sector has their CEOs, then it has the executive board and in the top is the CEO. The hierarchy on Nestlà © works perfectly. Efficient chain of supply, it delivers its products in a good condition in a fast way. Furthermore, it is a Socially Responsibility and innovative company. It has skilled and educated employees. Weaknesses Since Nestlà © develops many products, it is impossible to promote each of them. Another weakness is that Nestlà ©s products are dependable on milk, any global disease on cows may impact directly on Nestlà ©s production. Opportunities Nestlà © has many growth opportunities which are considered to be current trends that allow the company to extend its market. If Nestlà © catches up with some of the trends that are affecting food industry then it may be an opportunity to increase their profits. Threats As a threat that intimidates the company may be the current global economic crises. Nestlà © has to react fast with a strategy in order to pass the world recession without many losses. It may overturn into a disaster for the company if they ignore what is happening in the global economy. Another threat is competitions operations. PEST analysis Political The government plays a role on Nestle in terms of the rules that the government makes related to the food industry in general. For example failing to meet any standard of quality, hygiene or other set by the government may result in some sanction or fee for the company. Economic When it is about economics, companies always fear any recession that may occur. So if any recession occurs Nestle will be affected, and result in possible losses. Another way of economic involvement is the tax rises which also interrelated to the Political (government regulations). However if the economy is doing well it means that also Nestle expectations are to do well on the market too, because it has the necessary conditions. Social Change of life styles, income level, place of residence, education level are some social factors, which might have an influence in a company. But when it comes to food industry they doesnt make a huge difference, because food is a necessity and whether you live in urban or rural areas, or whether you are educated or not, you need to eat unless it is a luxury, and most of the Nestle products are for everyday use or necessity. Technological Technological advancements always shape the industries; change the way they are produced, and makes industries much more productive, but also the need for employees is lower. With the new technologies productivity has increased, the delivery of products is easier; products are being safer with the new packaging. Another segment related to technology is that the advertisement of Nestle products is much easier with internet, other media channels. Nestlà © uses market segmentation in order to develop a suitable market mixes for different consumers. For example, they segment market for only water consumers or products which are dedicated only for athletes. First step of market segmentation is to name broad product markets, for example, in the case of Nestlà © would be beverage and then as stated earlier segment this market on only a relatively homogeneous group of consumers, such as athletes. According to Fortune 500 the five most influential competitors of Nestlà © are considered to be Unilever, PepsiCo, Sara Lee, Groupe Danone, ConAgra Foods. However, Nestlà © has advantages over these particular competitors since it is a larger company and can produce with lower cost, thus the products can be offered with lower price, this can be seen as a weakness of these companies over Nestlà ©. They, offer fairly similar products as Nestlà © does. They also use many advertisement tools such as, TV, radio, news paper and so forth, some of them also use direct advertisement against Nestlà ©, for example PepsiCo. According to the research that we have done Nestlà © maintains to be ahead of these companies, so they are not taking market shares from Nestlà ©. In order to increase its market shares, Nestlà © Corporation must continue to develop new products, to spread even more on the countries that do not have factories. It must cope up with trends and forces that are affecting food industry today. The promotional budget of Nestlà © is set every year. Nestlà © for its products uses all known promotional tools. Nestlà ©s logo placed in a product makes Nestlà © responsible for the quality of the product. Advertising plan has an important role on promoting Nestlà ©s products therefore, advertising a product in an effective way increases chances for that product to be successful. They use many advertisement techniques to promote their products such as TV, Radio, Internet, Newspapers, and Magazines. (MARKETING PROCESS OF NESTLE CORPORATION) Beside advertisement, Nestlà © pays a lot of attention on the Public Relations field. They have a 24 hours media helpline so that journalists can contact them and inquire information whenever they want. Also, Nestlà © has developed a reputation and maintains that reputation through a variety of public relations strategy. The department of PR in Nestlà © tends to maintain a good relationship among employees and develop goodwill. They have developed or branded their CEO in a very professional matter and made him well known also developed its reputation worldwide. Because of their reputation when they can easily contact media to make announcements or Press Releases. According to Nestlà © pricing strategy, Nestlà © has its own set of techniques for setting the prices of the product. It does not primarily focus on the competitors pricing strategies. It emphasizes on the market demand of the product. Nowadays market is going through tough recession, so they set their prices keeping in view the purchasing power of the customers. Moreover the prices of the products are also subjected to the type of consumer product. If the product is a daily use then it can have a minimum price to attract the customer towards your product. Thus the company cannot influence much on the prices. (MARKETING PROCESS OF NESTLE CORPORATION) Trend 1: Step 1: State the focal issue or decision facing the enterprise. When a customer want to buy a product he goes through a decision process in order to choose between so many offers from different producers for the same product. Now when it comes to the food industry products, there are so many indicators that affect a persons decision. If it is farm friendly than it is an important factor that affects the decision of the buyers. Buyers will always choose the products that are consistent of organic and natural ingredients. In our case Nestlà ©s most important materials that purchases are milk and cocoa. And it is very important that Nestlà © purchases organic and natural milk and cocoa for the production of its products. Step 2: List the key factors that influence this decision. Certainly success will be considered that all of our raw materials (milk and cocoa) to be purchased from the farm-friendly sources. When we sell our products we also put the farm-friendly sign on it than customers will differentiate our products not only with our brand name, Nestlà ©, but also with its farm-friendly sign. Whereas failure would be considered if we fail to purchase organic and natural milk and cocoa. Whether it is because we cannot afford to buy them or nobody produces organic and natural milk, it still would be considered failure to us. In order to purchase the organic and natural sources, we need to know our suppliers. Where are their farms located, are there sufficient hygiene sources, check for possible diseases that cows may have and also some other issues that would affect the milk quality. Step 3: List the driving forces that influence these key factors Predictable: People will shift to the products that are farm-friendly (natural organic). Nestlà © will increase the profit. Nestlà ©s brand name will become stronger. Increase in the number of farmers who offer farm-friendly products Less predictable: Other food industries will use the same strategy. Higher competition. Highly uncertain: Customers will reject the farm-friendly products. The number of farm-friendly farmers will decrease. Step 4: Rank the key factors and driving forces by importance and by uncertainty. Step 5: Compose plots for alternate futures that could impact the decision. Best Case Scenario: The best case scenario would be if our customers like the products that produce by the organic and natural ingredients. And if this happens, customers shift their demand to these kinds of products, and certainly we will have to shift all of our sources in the production of these products. Furthermore we will grow our market because our brand name will be stronger and we expect a market growth for Nestlà ©. Worst Case Scenario: The worst case scenario would be if customers reject the farm-friendly products. And all of our production will be a loss for our company. Therefore we will lose our market shares not only for these kinds of products but also for other products produced by Nestlà ©. And this will lead to the weakening of our brand name. In-between case Scenario: The in-between case scenario would be if people will buy the organic and natural products but there wouldnt be any raise in the market shares or any change in the demand for Nestlà © products. Step 6: Evaluate the decision in each of the postulated scenarios. Best Case Scenario: We have to make the decision of producing our products with organic and natural ingredients because customers always tend to buy products that are natural and organic. And also products with natural and organic ingredients are much healthier and tastier too, so we will provide healthier and tastier products. By using this farm-friendly strategy of production we will affect also in the raise of the number of farmers in the rural areas. Worst Case Scenario: If the worst case scenario occurs than Nestlà © will for sure face losses in the market shares and in other sectors of the company too. In-between case Scenario: With the in-between case scenario occurrence Nestlà © will probably face some losses in some of its sectors, but it will be easier to rehab in a near future. Step 7: Select indicators and signposts for each scenario. Best Case Scenario: There will a huge demand for the products with organic and natural ingredients. Increase the market shares. Increase in profit. Worst Case Scenario: Rejection of farm-friendly products by customers. High production costs. Loose the market shares. In-between case Scenario: Competition. The market shares status: steady. Trend 2: Recently Nestlà © has merged with the Krafts Food Company so they will start to offer frozen pizzas. Since it is easy for people to prepare frozen products, it is considered that this trend will have positive effects on Nestlà ©s profits. Step 1. State the focal issue or decision facing the enterprise. A lot of consumers are interested on frozen products because it is easy to prepare them. If a person can prepare a Pizza for 5 minutes by putting it on Microwave, then they will buy it. The focused target for this products will be people who work and do not have enough time for preparing food. Also, the fact that Nestlà ©s slogan is Good Food, Good Health, it is obvious that the frozen pizzas will be healthy, nutritious and they tasty, therefore, there will be a demand for them. Step 2. List the key factors that influence this decision. In order to achieve this goal, which is to be successful in frozen food industry, we must get information from other food industries which deal with frozen products. We will obtain information which we will analyze, and according to them we will come up with our products. An important factor that influences us to this decision is the name of our company (Nestlà ©), which is a powerful name on the food and beverage industry. People will buy our products more when they realize that Nestlà © is the producer, thus they will increase the demand for the frozen pizzas o There will be a success if with this trend we increase the production and the profit to Nestlà ©. o There will be a failure if the target market will not accept our new products. If they do so, we have to start developing a new trend. Conditions/Events determining the success/failure: o Success  § If the trend increases the profit and bring success of Nestlà ©  § If consumers accept our products and get satisfaction from it  § If the demand of our frozen products will be higher than the demand for our competitors products. o Failure  § If this trend will bring losses to our company  § If frozen products will not be demanded by our target market Critical assumptions defining the logic of these responses o The competition on the food and drink industries nowadays is very large. In order to keep our clients and gain new ones, we must develop the frozen products on the market. Therefore, Nestlà © will be differentiated from other companies and will gain success by this trend. Step 3. List the driving forces that influence these key factors. Highly Predetermined/Predictable o An increase of people who consume frozen products o Increase companies profit o New production technology Less Predictable o A decrease of unemployment rate on rural areas o Market Size o Increase of employees income o Competitive advantage of Nestlà © o Higher production costs Step 4. Rank the key factors and driving forces by importance and by uncertainty. Step 5. Compose plots for alternate futures that could impact the decision. Best Case Scenario If we will be concentrated on frozen products, the demand for our frozen products and the profit of Nestlà © will be higher. In-Between Outcomes The trend of frozen products will keep things going almost on the same direction, but with a lower profit and production. Worst Case Scenario If we will not go through the strategy of our trend, our market size would be decreased and we will no more have competitive advantage. No one would buy frozen products with a high price if they find almost the same product with a lower price. Step 6. Evaluate the decision in each of the postulated scenarios. Best Case Scenario We should make this decision because it is a reasonable decision. First of all, the demand for frozen products is higher. Nowadays, most of the people are working and they need products which they can prepare quickly. By informing people about our trend which is Nestlà ©s Frozen Products, we will change the peoples behavior so the demand for our frozen products will increase even more. In Between On this case, the things will diverge a little from the best case, but we are sure that they will not get very bad. This is not a decision which brings us high profits, but it will help us to avoid failure. Worst Case Scenario If we take this scenario, we will face loses for sure. This is obvious that by having a high production cost, the price will increase, which would keep us away from clients. Step 7. Select indicators and signposts for each scenario. Best Case Scenario Demand for our products Number of clients is high Profit is high In Between The demand for frozen pizzas only (not necessarily other frozen products) Worst Case Scenario High production costs Small number of clients Many competitors Summary During the completion of the project we have done a lot of research to find proper information for each sector of the project assigned to us. We tried to work together on each sector in order to make the project more cohesive. We found very interesting information about Nestlà © and how a big company should operate. We used the terminology and concepts learned through the quarter in the Global Forces and Trends course. During the completion of the project we found out that Nestlà © is a very serious company, each department of Nestlà © has its own responsibilities and it is very well organized. It is important for Nestlà © to observe forces and trends that are affecting the food industry nowadays. It is essential for the company to maintain its market shares and its position in the global market through following the current trends such as: low and no fat products, use of green technology, farm friendly (use of organic and natural sources), healthy and tasty drinks, frozen produc ts and so on. We could expand our knowledge if continue to do more research and explore the company even in more details. Bibliography Global 500. CNN Money. CNN, 01 Jan. 2009. Web. 8 Feb. 2010. . MARKETING PROCESS OF NESTLE CORPORATION. Http://www.scribd.com. Nestle Corporation, 29 May 2009. Web. 8 Feb. 2010. . Nestlà ©. Nestlà © Corporation, n.d. Web. 8 Feb. 2010. . Nestlà © South Africa. Nestlà © Corporation, n.d. Web. 8 Feb. 2010. . Scenarios from Homework Arianit Bllaca: Trend: Low and no-fat products Step1: Trend The food industry is a very competitive market and companies are trying to adapt to changes of customer tastes, attitudes, beliefs in order to grab as much market shares as they can. Nestle is one of the most important brand on food industry that deals mainly with producing products such as chocolate, ice creams, beverage and so forth. Although, it is a leading company on this industry it has a very strong competitors. Nowadays many people are concentrating on buying products that have very low or no fat at all. Until now Nestle products had on average amount also included fat. The key issue is whether we as a company should shift our production on products with low and no fat? Or, perhaps give no importance to this trend and focus on other potential trends with higher importance? Step2: Key Factors that influence the decision In order to have clearer picture of the problem and construct a strategy on this issue, we need to have more information on the impact and importance of this trend on our company. We should do primary market research in order to create alternatives for solving the problem. If the results show that there is enough evidence that the trend will impact the market in wide range then we should go on with the decision. o If the companys decision to increase the production of the products that have low or no fat increases market shares, this would be considered as a success. It is also important that the shift of production in this direction will not impact on the cost of producing these types of products; the cost is lower or approximately the same as previous. o Failure is, if the decision for making more products with low or no fat essentially depreciates our customers base. The customers do not respond positively and do not appreciate the change. Conditions/Events determining the success/failure: o Success:  § The decision increases profit.  § The changes made by the company lead to more market shares.  § The actual customers like our new products.  § We are perceived as shapers of the market.  § We wider our customers base. o Failure:  § If our market shares drop significantly.  § The products do not taste as delicious as previous ones.  § The actual customers perceive it as an unnecessary move.  § We cannot attract new customers.

My Last Duchess and Porphyrias Lover by Robert Browning Essay -- Rober

Robert Browning wrote the two poems, "My Last Duchess" and "Porphyria's Lover." Both poems convey an thoughtful, examination profound commentary about the concept of love. communicates two interpretations concerning Both poems describe the behavior of people who are in loving, romantic relationships. There are several aspects common in both poems. Using the literary technique of dramatic dialogue, the author reveals the plot and central idea of each poem. Robert Browning tells each poetic story through a single speaker. Both poems reveal an account in which the admirer kills the object of his love. This paper will compare and contrast the following characteristics: the setting, the speaker, the mood and tone, and theme found "My Last Duchess" and "Porphyria's Lover." One speaker, the Duke of Ferrara, tells the story of "My Last Duchess." The story occurs prior to a meeting between the Count, his emissary, and other dignitaries. Duke Ferrara is speaking privately with the Count's emissary in a room located upstairs within the residence. The Duke is describing a painting of his last wife. The room is stately, well furnished, and decorated with several artistic items. Similarly, a speaker whose identity is unknown tells the poem "Porphyria's Lover." In a dramatic monologue, each speaker relates the details of his poem. Unlike "My Last Duchess," the poem, "Porphyria's Lover," has a very different setting. The events that transpire in "Porphyria's Lover" happen in a secluded cottage on a stormy night. The speaker is alone in the cottage. The strong wind and the unceasing rain are heard and felt inside the dwelling. The cottage is located near a lake and is surrounded by a dense forest. The storyteller has a speci... ... of the love shared between a man and a woman. The aspects of jealousy, vanity, pride, obsessive desire, beauty, and flirtatious behavior are contained in both poems. The desire to completely possess another person's love and affection are related through a dramatic monologue. Robert Browning compares the love Duke Ferrara has for his Duchess with the obsession of Porphyria's lover. The Duke's has a jealous, stubborn, and irrational love for his Duchess. Likewise, Porphyria's is the recipient of a sinister, uncontrolled, and destructive love. Her mysterious admirer is overwhelmed by Porphyria's supreme beauty and her sensual mannerisms. His jealousy and obsession for Porphyria, compels him to act upon his depraved thoughts that will secure her total love and devotion. Porphyria and the Duchess experience similar outcomes that result in the death of both women.

World of dream

I saw a dream that I was in a land of chocolates . Full of candies , toffees . There was a river which was made of chocolate soup ,tree full of candies and even the who were around them were full of chocolates . I took a slide over a river and I ate many chocolates . I was very happy and I wonder If I would be there for years then suddenly I fell down my bed and heard many noises of my other who was trying to wake me up for the school that day I understood that It was only a dream and not reality and then I felt very sad.I would be there for years then suddenly I fell down my bed and heard many noises of my mother who was trying to wake me up for the school I was very sorry for that Incident but can't help at last when he was happy he was guilty for his act and decided to punish himself. Full of candles , toffees .There was a river which was made of chocolate soup ,tree full of candles and even the who were around them but now understood my pain of life with no one thankful at last I want to say that I am very depressed and want my life to be settled he said and locked him in his room . It was a bad day a worst day of his life his birthday couldn't be celebrated as he don't knew to enjoy sad very sad but can't do anything helpless .There was a river which was made of chocolate soup tree full f candies and even the who were around them but now understood my pain of life to be settled he said and locked him in his bed and felt asleep a happy ending couldn't be achieved . I would be there for years then suddenly I fell down my bed and heard many noises of my mother who was trying to wake me up for the school I was very sorry for that incident but can't help at last when he was happy he was guilty for his act and decided to punish he would like to punish his family friends and so on

Arguments of the Afterlife Essay

Throughout all recorded history mankind has battled to find answers to each and every one of life’s questions and to some avail found quite a few; still, one question that has yet to be answered pertains to the possibility of life after death. Some argue that the idea of survival of consciousness without a body is extremely impractical and out of the question; however, when relying on only practical evidence alone it is hard to formulate a concrete theory. On the other hand, when we look at things such as cross-cultural studies on near death experiences and their underlying similarities we can utilize them as clues to suggest the possibility of an afterlife. Using both logic and intuition we should be able to gain some insight on the matter. A near death experience (NDE) is a term that was originated by Dr. Raymond A. Moody in his bestseller Life After Life, a book that has revolutionized the way many people see death (Morris, 1; C.  Tan 1). According to Moody NDEs are visions of the afterlife that must happen to an individual under the conditions of one of the three following circumstances: being pronounced clinically dead; are close to death due to traumatic injury; or descriptions of visions seen by a dying person and later described by someone who is present (12). These visions are similar to fingerprints in the fact that no two are exactly the same (Moody, 17). However, there are many common characteristics such as: feelings of quiet and peace; strange noises that have been sometimes described as â€Å"disturbing† or even â€Å"peaceful†; beautiful being(s) of light that are often religious figures, but not always; dark winding tunnels that are usually cylindrical; intense flashbacks that play back the person’s entire life in order to â€Å"provoke reflection†; being greeted by family members or friends who have passed on before; and borderlines that could be any sort of border imaginable (Moody, 21-55). Although the term â€Å"NDE† is fairly new the experiences that define it are not. Since the beginning of civilization every culture has mentioned some form of an afterlife idea based on various religions and areas in which they are centered around; thus, we can compare anthropological and psychological observations from reliable sources- every civilization (C. Tan, 1). The earliest clues to NDEs can be found in ancient texts such as: The Egyptian and Tibetan Books of the Dead, which both describe the transition of life to death and what they might see; and even Plato acknowledges these experiences in Book X of the Republic which tells a short story of a soldier who was killed in battle along with several other soldiers, they all traveled through a tunnel together to be judged by a light; however, he was sent back by the light to tell everyone what he had experienced. Still another important clue is that NDEs are not limited to any certain religious group, gender or age. Muslims, Jews, Christians, Buddhists, males, females, adults and children have told their NDE accounts (C. Tan, 2; â€Å"Historical Tradition† sec. 2-3; Moody, 86; Williams, sec. 3). Skeptics may argue that the concept of an afterlife is unrealistic and brush these findings to the side by labeling them under hallucinations and psychological factors. Not only does the brain release certain chemicals such as DMT as a physical response to death, but also culture plays a strong roll in what a person might describe to have seen during an NDE (Neimark, sec. 1). For example, both a Christian and a Muslim encounter the same â€Å"being of light† during an NDE, while the Christian believes they have encountered Jesus Christ the Muslim believes that they have encountered Allah; simply in accordance to their religious beliefs. It is true that the brain releases DMT during its time of death and certain aspects of NDEs do vary from culture to culture due to psychological factors; nevertheless, this does not disprove the evidence supporting the idea of an afterlife (Williams, sec. 1-2). Meanwhile, when we study cases of NDEs such as Harvard neurosurgeon and former skeptic, Dr. Eben Alexander III; consequently, whose personal encounter with such an experience changed his whole view on this topic (â€Å"Heaven Exists, Says US Neurosurgeon Eben Alexander after Waking from Coma†, 1-2). In his book, Proof of Heaven: A Neurosurgeons Journey into the Afterlife, Alexander descriptively illustrates his personal NDE through a logical and intuitive point of view. He was admitted to the hospital on November 10th 2008 when he was discovered to have bacterial meningitis; moreover tests taken indicated gram-negative meningitis, which has a high mortality rate. Dr. Alexander was reported to fall in to a coma for 6 days and his mortality rate rose up to 97 percent, until the 7th day when he miraculously awoke. According to Scott Wade, M. D. who treated Dr. Alexander, â€Å"The fact that he went on to have a full recovery from this illness after being in a coma for nearly a week is truly remarkable. † (Wade, 184). Yet Dr. Alexander’s quick recovery from an almost fatal coma was not the only aspect that should be noted as â€Å"truly remarkable† (Wade 184). Not only did he experience some of the more commonly reported events in NDEs, such as: noises, beings of light and even an encounter with a family member who had passed some years before (Alexander, 38-79). But, Alexander also underwent some unconventional events in his NDE, that have never been reported in previous times, including: that during this NDE he had no knowledge of who he was before, what he was or even where he was; the family member that lead him through his afterlife experiences turned out to be his biological sister who he had never seen until after his NDE when a photo of her was sent to him by another biological sibling; and during this coma his neocortex which is the part of the brain that hallucinogens such as DMT affect was shut down (Alexander, 29-171). In fact, Alexander was in such a heave state of coma that there would have been no possible way of the vivid recollections of his NDE, because his cortex was not even functioning (Alexander, 140-186). Similar to having reoccurring characteristics in NDEs, the most universal reported event NDEs is that that everyone who has been â€Å"sent back† claims to have been â€Å"told† that the reason we are all here to learn how to love. They display a more spiritual lifestyle and usually have a set notion of certain beliefs pertaining to the afterlife, which cannot be budged (Alexander, 72-79; C. Tan 1-2; Neimark 3; Williams sec. 5). As Moody puts it â€Å"Still, the experience affects his life profoundly, especially his views about death and its relationship to life. † (C. Tan, 1). A number of these people even assert that â€Å"†¦we are not using the word ‘death’†¦ after you have the experience that I had, you know in your heart that there is no such thing as death. † (Moody, 73). Although we live in a world where scientific backing must play a roll in our research to conclude theories, we must also note that we are not scientifically advanced enough to rule out all that is considered to be an illogical argument. Likewise, until we are completely able to balance logic with intuition we will never be fully capable of finding answers to all of our questions. NDEs cannot be disproved until all holes in the logical argument are filled; moreover, NDEs show more supporting or at least unexplainable evidence than they do contracting evidence that could quite possibly answer some of questions if better researched.

Using the Spanish Word Bien

Using the Spanish Word Bien Bien is most often used as an adverb meaning well (i.e., in a good manner) although in a more flexible way than the English word. Bien also can be a noun whose meanings include goodness and asset. Here are some examples of where well is a good translation for bien: Raquel cree que canta bien. Raquel thinks she sings well. Un alimento bien cocinado puede contaminarse si tiene contacto con carnes crudas. A well-cooked food can get tainted if it has contact with undercooked meats. Aprende bien las reglas de manejar. Learn well the rules of driving. Mi bebe duerme bien. My baby sleeps well. No entiendo bien tu pregunta. I dont understand your question well. Bien often carries the idea of something occuring correctly, sufficiently or to a great degree: No puede reparar bien mi coche. He cant fix my car correctly. Llovià ³ bien hasta enero y despuà ©s se cortà ³. It rained a lot until January and then it stopped. La computadora no me funciona bien. The computer doesnt work right for me. Se sentir en casa con la comida deliciosa y las bebidas bien frà ­as. You will feel at home with the delicious food and well-chilled drinks. No estoy seguro de haber descargado bien el software. Im not sure the software was downloaded properly. La pelà ­cula est bien divertida y no tiene mensajes de doble sentido. The film is quite fun and doesnt have mixed messages. Often with estar (and sometimes other verbs), bien is sometimes translated as a positive adjective that varies with context: Estuvo muy bien el desayuno. The breakfast tasted great. Estoy bien hoy. Im feeling good today. Ests bien en tu foto de Facebook. You look good in your Facebook photo. Todos estamos bien. Were all fine. Todo est bien. Everythings OK. Te est bien la camisa. The shirt looks good on you. As an interjection, bien can have a similarly positive meaning. For example, fans at a sports context might shout  ¡Bien! as a way of saying Good job! As a noun, el bien can mean goodness or something similar: El mundo est plagado de gente que no hace el bien. The world is plagued by people who dont do the right thing. La à ©tica, por definicià ³n, busca el bien. Ethics, by definition, looks for the good. In financial matters, el bien can refer to various types of assets or goods. For example, un bien tangible is a tangible asset, and bienes raà ­ces refers to real estate.

Guide on How to Write an Anthropology Essay with Ease

Guide on How to Write an Anthropology Essay with Ease Need help in writing a challenging anthropology essay? Being a social science, anthropology mostly consists of an argument about how certain social facts are to be interpreted. Modern anthropology cannot be regarded as a unified body of knowledge and only few anthropology issues have been resolved. Anthropology as a science is a dialectical production so we can’t find many generally accepted answers. That’s why an anthropology essay has to show not just some factual knowledge, but also demonstrate your ability to present arguments and counter-arguments about particular issues and assess them. In this article, you will find an easy guide to writing an anthropology essay, a short list of good anthropology essay topics, and some useful anthropology essay writing tips that will help you succeed. What is An Anthropology Essay? Students who study anthropology are commonly assigned to write short essays where they have to discuss some challenging and controversial material that they study in class. These may be reflective essays such as reflections written in the journal-entry style and you may be asked to synthesize some concepts and other information that was covered in class lectures, readings, and discussions. Such essays require strong organization and logical development of the ideas and are based on the in-depth research of scholarly sources. Review the Assignment Guidelines or Choose a Topic Understanding what exactly you have to do for completing your anthropology essay can really help you in every step on the way. Read carefully the entire assignment before you start writing. If there is something that you don’t understand, ask your instructor to explain it to you. Your assignment may have several parts so pay attention to each of them and find out how many issues you have to address in your anthropology essay. When reading your assignment, make sure that you fully understand the keywords. Your assignment may ask you to comment, analyze, identify, reflect, describe etc. and your task will be to give a specific and clear commentary, analysis, reflection, description etc. You should also determine and underline the key subjects of the assignment for your essay because you will need to consider all of them when making an outline. If the topic for your essay was not given by your instructor, you need to choose a topic that you are interested in. You should do preliminary research to find out if it is possible to find enough credible primary and secondary sources that have the information needed for your argument. Besides, you should take care that the topic is narrow enough so you will be able to cover it in your essay. If the topic is too broad, you should narrow it and make it manageable. Take a look at this short list of interesting anthropology essay topics that you may use to get started. Anthropology Essay Topics for Your Consideration: The Development of Anthropology in the Digital Age The Relationship between Language and Culture Problems of Researching Food Habits Religious Beliefs and Practices of Ancient Maya Marriage in Primitive Societies New Directions in the Anthropology of Gender The Anthropology of Tourism Education in the Era of Globalization Art as a Cultural Phenomenon Climate Change as a Human Problem A History of Economic Anthropology The Future of Visual Anthropology Aids in Africa Health and Income Differences Third World Poverty Structure of an Anthropology Essay An anthropology essay consists of three main parts, just like any other academic essay: an introduction, the body, and a conclusion. The Introduction The introduction has to foreshadow your argument and present your topic and the key ideas that you are going to argue in your essay. You should end this part of an essay with a thesis statement or research question. A clear thesis is the key component of analytical papers and it should identify precisely what you will discuss in the body of your essay. It’s vital to revise your thesis statement as your essay develops because, most likely, you will need to make some changes. As you write, you will realize more ideas, and some ideas that you originally included in the thesis statement may become less prominent for your essay. The Body The body of your anthropology essay should be broken into sections that should discuss a major theme and each section should be broken into several paragraphs. The paragraphs are the building blocks of your essay and each paragraph should be devoted to a single main idea. You should ensure that every main idea flows logically to the next. Clarity and organization are the keys to a successful essay and you can achieve it only by careful planning, referring back to the reading material as you write you paragraphs, and revision of what you have written as you proceed. While working on the body of your essay, you should develop your discussion coherently and ensure that all the sentences and paragraphs in your anthropology essay follow logically from one another. The Conclusion The conclusion should include a brief summary of your essay’s topic and highlight the relevant points of your argument. You need to present a final answer to your research question or provide an assessment of the problem. A well-written conclusion is your chance to show how coherent your previous sections are in answering your essay question. It’s your last chance to impress your readers so try to end your anthropology essay as effectively and neatly as possible. Planning Your Anthropology Essay Before you start writing your paper, you should make a brief outline of each part of your project, taking into account the basic essay structure. It will help you present a clear and logical picture. Different students prefer different methods. You can make a traditional outline or use any other popular techniques such as a ‘knowledge tree’ or a ‘mind map’. These techniques may not work well for everyone but they are worth trying. Typically, you should address your essay question through several logical steps such as introduction, specific component sections, relevant scholarly sources, etc. These steps lead you from your essay question into analysis and further discussion and back to the answer of your research question. Students who use brainstorming and create a ‘mind map’ as a part of the planning process can get three valuable outcomes: they can identify the information that may be irrelevant for their topic; they will be able to achieve a flowing writing style where every point connects to the next one; they will spend less time writing in a coherent style so they will have more time rereading, editing, and reshaping the final anthropology essay draft. In general, making outlines helps when planning out the essay’s organization before you add some details, support for your ideas, and style. Use of Sources and Quotations You should write your anthropology essay in your own words even if you think they are awkward. Of course, you should use quotations, but the quotation and paraphrasing should not account for more than 10% of your essay. And it’s crucial that you should properly cite the reference materials that you use in your project and give credit to these sources for the data or ideas that you borrow. If you paraphrase or quote another person’s work without acknowledgment, it is considered plagiarism which is not acceptable in any academic field. You should cite your sources carefully. Usually, your instructor will provide you with guidelines on how to cite your sources, but if he/she doesn’t provide you with specific instructions, you may check the American Anthropological Association Style Guide. You should be cautious when you use quotes because usually, instructors are likely to be more interested in how you express your own ideas to support your argument and not in how you collect different quotes no matter how good they are. Your instructors actually want to know what you think so it’s quite possible to complete a good academic essay with the minimal use of quotes. You should use a quotation only if you need it to make a point and you have to provide an explanation why you are using a quote. You should provide the source of information every time you give facts or figures, paraphrase or summarize someone else’s argument or make a direct quotation. It will allow your audience to follow up on the information that is cited, to determine the parts of your anthropology essay that are original, and check the truth of your statements. You must acknowledge all sources in the list of references or bibliography at the end of your essay and in the text. At the end of the quote, you just have to put in parenthesis the last name of the author, the year of publication, a colon, and the number of the page. Footnotes or endnotes may be also sparingly used if you want to clarify or expand some side issues or details that are relevant to the essay but it would not be appropriate to expand them within an argument of your anthropology essay. Polishing the Draft No one can write a perfect first draft so when you start writing, don’t care too much about your grammar and style because you will fix it later. At this stage, you should concentrate on the content of your essay and do your best to answer the essay question and argue your thesis statement clearly and logically. To succeed in writing an impressive essay, you will need to revise all or some parts of the paper several times. Revision is an important part of the writing process. You have to review the components of your essay and make changes in the content and structure to ensure that your essay focuses on the topic and provides a good answer to the essay questions. Typically, you will need to add, delete and reorganize your material, doing the global revision. Besides, you will have to edit your essay and do the so-called surface-level revision. When you complete your final draft, you have to check the logical flow and organization and make sure that your arguments in different parts of your essay are consistent with each other and all your assertions are supported with appropriate evidence. Make sure that all your paragraphs have topic sentences and include appropriate transitions. Check if the points in your discussion are clear and precise and that the discussion has an explicit overall development. Make sure that you used clearly relevant concepts, examples, arguments, categories, evidence, positions and that, for each concept, you have explained what you mean by the concept. Make sure that you have avoided wordiness and unnecessary use of the passive voice. Proofread your anthropology essay and fix grammar, spelling, and punctuation mistakes and typos. Check if you have cited the sources properly. General Anthropology Essay Writing Comments from Our Experts Try to express your ideas as clearly and concisely as possible. Use complete sentences and make them as short and succinct as possible. Your sentences should not take up more than three lines so if they do, break them down into smaller pieces that are easier to read. Your paragraphs should consist of at least three sentences. The length of your paragraphs can vary depending on the argument that you are making in your essay as well as your personal style. But if the paragraphs in your essay are too long, your readers will find them harder to follow. Do not artificially lengthen your essay with irrelevant points and excessive repetition. Keep your essay simple and use only those words that you understand. You should explain all anthropological terms that you use. Use a spell checker to fix minor errors and typos and find someone to read your essay and proof it. Keep your essay length within the word count. Your essay should not be significantly under or significantly over the word limit. Be careful with using block quotations. Never cite the work of other if you just want to fill up space and make your essay look longer.

logic - definition and observations

logic - definition and observations Definition: The study of the principles of reasoning. Logic (or dialectic) was one of the arts in the medieval trivium. Over the course of the 20th century, notes A.D. Irvine, the study of logic has benefited, not only from advances in traditional fields such as philosophy and mathematics, but also from advances in other fields as diverse as computer science and economics (Philosophy of Science, Logic and Mathematics in the Twentieth Century, 2003) See also: ArgumentDeduction Enthymeme and Syllogism FallacyInductionInferenceInformal LogicLogical ProofLogosRenaissance Rhetoric Etymology: Observations: But of all the arts the first and most general is logic, next grammar, and finally rhetoric, since there can be much use of reason without speech, but no use of speech without reason. We gave the second place to grammar because correct speech can be unadorned; but it can hardly be adorned before it is correct.(John Milton, The Art of Logic, 1672)Logic is the armory of reason, furnished with all defensive and offensive weapons. There are syllogisms, long swords; enthymemes, short daggers; dilemmas, two-edged swords that cut on both sides; sorites, chain-shot.(Thomas Fuller, The General Artist, 1661) Logic and RhetoricA good deal of everyday talk, even gossip, is intended to influence the beliefs and actions of others and thus constitutes a kind of argument. . . . [A]dvertisements often just provide product information rather than advance explicit arguments, yet clearly every such ad has an implied conclusionthat you should buy the advertised product.Nevertheless, it is important to un derstand the difference between rhetoric that is primarily expository and discourse that is basically argumentative. An argument makes the claim, explicit or implicit, that one of its statements follows from some of its other statements. It at least implies that acceptance of its conclusion is justified if one accepts its premises. A passage that is purely expository gives us no reason to accept any facts it may contain (other than the implied authority of the writer or speaker, as, for example, when a friend tells us that she had a good time at the beach).(Howard Kahane and Nancy Cavender, Logic and Contemporary Rhetoric: The Use of Reason in Everyday Life, 10th ed. Thomson Wadsworth, 2006) Formal Logic and Informal LogicSome logicians study only formal logic; that is, they work only with abstract models that have purely logical substance and content. . . .Relating the abstract systems of formal logic to real statements and arguments is not part of formal logic itself; it requires the consideration of many issues and factors beyond the basic logical forms of the statements and arguments. The study of the factors other than logical form relevant to the analysis and evaluation of statements and arguments of the kind that occur in everyday situations is known as informal logic. This study includes considerations of such things as: identification and clarification of vague or ambiguous statements; identification of unstated assumptions, presuppositions or biases and making them explicit; recognition of frequently used but highly questionable premises; and assessment of the strength of analogies between more or less similar cases.(Robert Baum, Logic, 4th edition, Harcourt B race, 1996) Pronunciation: LOJ-ik

Federal Bailout Research Paper Example | Topics and Well Written Essays - 1500 words - 1

Federal Bailout - Research Paper Example With these higher unemployment numbers and the fear amongst those in the banking industry, more and more restrictions were placed upon the opportunity to guarantee new credit to consumers, while the already issued credit lines were at risk of being defaulted on. As a way to intervene in the matter, the federal government would seek to purchase existing debt from major banks, in the hopes of creating more room for new growth. Like anything else the government seeks to do, their plan for the banking industry would have its supporters, along with its vocal naysayers. With a considerable amount at stake going into the Presidential election of 2008, it would become important for both candidates to respond in their own ways, to the legislation that was being proposed by their fellow elected representatives and such legislation, that would be signed into law by the very man that each candidate was hoping to replace come November 2008. At the beginning of debate towards the end of the third quarter in 2008, the initial proposers of such action, would be then-Treasury Secretary Henry Paulson and current Federal Reserve Chairman Ben Bernanke. This action would see support from both men, the White House, along with both Presidential candidates and the Democratic leaders on Capitol Hill. Considerable opposition to the plan itself, would come from many Republicans, who felt it would be too much government control. In this case, â€Å"The first proposal for a sweeping bailout of financial institutions came at the height of the panic in mid-September, 2008. Mr. Paulson, with the backing of Mr. Bernanke, asked Congress for $700 billion to use to buy up mortgage-backed securities whose value had dropped sharply or had become impossible to sell, in what he called the Trouble Asset Relief Program, or TARP. As originally outlined, the

Benefits of breathing in Pilates Term Paper Example | Topics and Well Written Essays - 500 words

Benefits of breathing in Pilates - Term Paper Example In Pilates exercises, breathing was conducted according to belief that having blood pumped to awaken all cells in the body and carry away all the waste related to fatigue. For this purpose, the blood has to be oxygenated and free of waste gases by breathing properly. Therefore, Pilate exercises demand for inhalation in preparation for a movement followed by exhalation just before execution of the movement. In any movement, one should always breath and especially in all the difficult portions of a movement. Pilate’s exercises call for breathing deeply and fully where inhalation is through the nose and exhalation is through the mouth. Breathing through the nose warms the air and filters it thus ensuring there are no toxic materials entering the body. In the process of inhalation, the diaphragm contracts and allows more air to fill the lungs (Pilates Trends, Para. 4). At the same time, the ribcage expands out to the sides and back, and as a result, the shoulders move upwards. These movements allow for the lower part of the lungs to receive oxygen thus increasing efficiency of the gaseous exchange process. In an exhale, the ribs relax and come closer to the medial plane allowing the diaphragm to relax and arc upwards in the abdominal cavity (Pilates Trends, Para. 5). As a result, air is forced of the lungs thus taking away the carbon dioxide from the body. Breathing in Pilates follows several principles that are to be followed at all times: one should always keep one’s breathe flowing and therefore, should not hold their breath. Air should be inhaled through the nose and exhaled through the mouth while exhalation should be through the mouth should be done with relaxed lips and not pursed ones. Also, exhalation should be done to flex the spine and inhalation should be to extend it. (Pilates Trends, Para. 9) Pilates exercises are beneficial to those who take part in them and have been for numerous therapies and treatments.

Women Suffrage Thesis Example | Topics and Well Written Essays - 1750 words

Women Suffrage - Thesis Example n the hands of their physically stronger counterparts and tend mostly the home and the hearth, not to say that they could even if they wanted ,for power in the barbaric ages was the privilege of the brute . Neither could the vanquished classes, whatever the gender, theoretically come anywhere near it till the age of democracy ushered in by the thinkers and the educated classes of this world came to blossom. And education and knowledge, once it began to infiltrate the recesses of the kitchens, brought with it a desire for self determination and empowerment. Though subservience of women to men is advocated by various religious texts, it is a sad fact that duties demanded in return are found fantastically wanting. On the other side, the premise that women are totally excluded from decision-making is also not true, acknowledged popularly in the phenomenon known as â€Å"pillow talk†. A notable example from a religious text is the case of the Pilate’s wife, a woman of better sense and judgment and goodness than her husband, advocating leniency for Jesus Christ who was under the sentence of crucifixion.[Mathew 12;34,KJV]. Similar instances abound in history, which perhaps if heeded to, would have made the world a vastly better place and perhaps saved it from many a catastrophe. â€Å"Do not put such unlimited power into the hands of the husbands. Remember all men would be tyrants if they could†, said Abigail Adams Abigail Adams  Quotes . AbigailAdams  (1744-1818) By Jone Johnson Lewis, About.com Guide Interesting and amusing sallies for and against the cause were presented in the â€Å"Woman’s Wrongs† and the Woman’s Rights by Rev. John Todd [Todd] and the â€Å"Woman’s Wrongs† by Mary Dodge [Dodge] . Early in the 18th century, the ideas promoted by Mary Astell , English philosopher in her epic letter Serious Proposal to Ladies, 1697,was one of the pioneers who led the charge saying [founded on Descartes theory of dualism which advocated that mind is not

Research Assignment Example | Topics and Well Written Essays - 250 words - 5

Research - Assignment Example Research findings, clinical knowledge, knowledge resulting from basic science as well as opinion from expert are all regarded as â€Å"evidence† (Drake and Goldman 32). Practices that are based on research findings, however, have high chances of resulting into outcomes that match the desires of patients across different settings as well as geographic locations. The challenge for evidence based practice is caused by the pressure from health care facility due to containment of cost, larger availability of information, greater sway of consumer regarding care and treatment options. This kind of practice demands some changes in students’ education, more research which is practice-relevant, and a working relationship between researchers and clinicians (Drake and Goldman 38). Evidence-based form of practice also brings an opportunity for nursing care to be more effective, more individualized, dynamic, streamlined and opportunities to maximize clinical judgment effects. When there is reliance on evidence in defining best practices but not for supporting practices that exist, then nursing care is said to be keeping pace with recent technological changes and benefits from developments of new knowledge (Drake and Goldman 49). Although many young professionals have embraced this new approach, it has come with its challenges. A number of researc h studies have indicated that perception of nurses towards EBP is positive and they regard it useful to better care of patients. This research will critically analyze the barriers towards full acceptance of EBP. This will be a descriptive research design. Qualitative research does not, by definition, aim to precisely estimate population parameters or test hypotheses. However, most qualitative projects do attempt. This design was identified as the most convenient and ensured that the data obtained gave answers to the research questions. Descriptive design also offers the opportunity for a logical structure of the inquiry into

Art history Essay Example | Topics and Well Written Essays - 1250 words - 2

Art history - Essay Example He is perhaps best known as a portrait painter but critics have found it difficult to categorize him much more accurately beyond that. The Encyclopaedia Britannica cites his â€Å"large-scale Photo-Realist† portraits as his most famous achievement while the Oxford Dictionary of Art labels his early work as â€Å"Abstract Expressionist† and his later work as â€Å"Superrealism†. Many commentators (Sultan, 2003) have regarded his work in the medium of print to be even more significant than his paintings and it is certainly true that photography and print media have influenced his painting, as well as being major works of art in their own right. Throughout his life Chuck close has given interviews and collaborated on many books and television programmes (see for example Finch, 2007) which gives critics a good insight into his life and thought. His childhood was in some ways difficult, because of illness in the family and his own learning difficulties. Nowadays he would have no doubt been diagnosed with dyslexia and coached out of his rather individual way of seeing things, but as it was, he used his disability with words to focus on what he was good at, namely art. He has an exceptional awareness of his own artistic development and an uncanny talent for finding new techniques. While still a student Close was fascinated by prints and photography, citing Jasper Johns as an early influence (Sultan 10). He was a student in the 1960s, and experienced the blossoming of Pop Art first hand. The work of Johns and Warhol opened up a whole new field of exploration where the boundaries between collage and paint, between commercial silk screen printing and traditional fine art painting seemed to be merged. Multiple repetitions of the same subject were made in different colors and on a huge scale, highlighting these artists’ ability to frame even very ordinary items in unusual ways and change our perception of these items. Images such as the cans of soup and the Marylin

Email revision Essay Example | Topics and Well Written Essays - 250 words

Email revision - Essay Example I would like to take such a chance to submit my request to you as a supervisor in the sense that I have imperative ideas, whose discussion is vital. Therefore, I beg for the date’s adjustment to 22nd since I have a due schedule on 20th where I have some reports to deliver. In the first place, I would like us to consider salary increment due to the extreme economic crisis where we are not able to meet our personal needs. Secondly, we should consider the clothing character where the management should permit casual wear on Fridays. Thirdly, I would like us to factor gender balance in the company. It is a concept, which will establish respect among the employees hence restrict them in their entitlements Further, the management should enhance an effective strategy to promote self-esteem to the staff. Such an approach will involve eradication of the nepotism character in the entity. Further, the idea will enhance equality. Moreover, we should discuss a mechanism, which will factor staff advancement. Critically, it is recommendable for the workers to exchange ideas and train one another a method, which will perfect their skills. Finally, we should determine the remedies towards frequent short notices and excessive travelling. I kindly hope that you will be interested as you respond to my request. Yours faithfully, Miguel

Art history Essay Example | Topics and Well Written Essays - 1250 words - 2

Art history - Essay Example He is perhaps best known as a portrait painter but critics have found it difficult to categorize him much more accurately beyond that. The Encyclopaedia Britannica cites his â€Å"large-scale Photo-Realist† portraits as his most famous achievement while the Oxford Dictionary of Art labels his early work as â€Å"Abstract Expressionist† and his later work as â€Å"Superrealism†. Many commentators (Sultan, 2003) have regarded his work in the medium of print to be even more significant than his paintings and it is certainly true that photography and print media have influenced his painting, as well as being major works of art in their own right. Throughout his life Chuck close has given interviews and collaborated on many books and television programmes (see for example Finch, 2007) which gives critics a good insight into his life and thought. His childhood was in some ways difficult, because of illness in the family and his own learning difficulties. Nowadays he would have no doubt been diagnosed with dyslexia and coached out of his rather individual way of seeing things, but as it was, he used his disability with words to focus on what he was good at, namely art. He has an exceptional awareness of his own artistic development and an uncanny talent for finding new techniques. While still a student Close was fascinated by prints and photography, citing Jasper Johns as an early influence (Sultan 10). He was a student in the 1960s, and experienced the blossoming of Pop Art first hand. The work of Johns and Warhol opened up a whole new field of exploration where the boundaries between collage and paint, between commercial silk screen printing and traditional fine art painting seemed to be merged. Multiple repetitions of the same subject were made in different colors and on a huge scale, highlighting these artists’ ability to frame even very ordinary items in unusual ways and change our perception of these items. Images such as the cans of soup and the Marylin

Key Skills of Management Essay Example for Free

Key Skills of Management Essay 1. Introduction In this essay I have attempted to describe the key skills of management, in my opinion, and how working with others can develop them. I have drawn on my own experiences as a manager and reinforced my answers with research from the internet and other reference sources. There are various skills needed for good management, some skills are learned others are instilled as a part of that person’s nature. Within this essay I discuss these skills and the importance of good management behaviour. 2. Key skills my viewpoint I manage four teams, each consisting of 15 members of staff. Within each team is a supervisor whose task is to monitor the running of the operation line and to inform me of any deviation from the norm. I am privileged enough to have a support team of a quality facilitator, two fitters, an electrician and a process engineer, who I direct to assist with the events of the day. Enthusiasm and motivation I am enthusiastic and self-motivated; I maintain this through seeing issues as a challenge and an opportunity to test my skills. If I am enthusiastic then my staff will be encouraged to be motivated too, ‘It’s hard to be productive without enthusiasm.’ (Gates B) Henri Fayol states that there are fourteen principles of management. In principle number seven (Remuneration) Fayol argues that ‘Workers must be paid sufficiently as this is a chief motivation of employees and therefore greatly influences productivity.’ I personally do not feel that this is a chief motivation even though it is a factor but that job satisfaction and also a sense of belonging are greater influences in productivity. Communication I believe it is important to have a pre-shift meeting with the supervisors and run through what is planned for the day. Any concerns are raised prior to the start of the shift, so we have a clear direction of how we are going to achieve these goals. I try to keep meetings informative, constructive yet light and brisk. I feel it is important that we start the day with a can-do attitude. It is important to me that the delivery of any communication is clear, precise and accurate. Communication works two ways and I feel that we only learn by listening. I operate an open door policy, where any member of staff at any level can speak to me. Encouraging growth of people and business I want to encourage growth within the company; in order to do this I develop people by encouraging them to learn new skills and keep up-to-date with processes on the line. The rotation of staff within the production line not only benefits the operator with skills and self worth but also protects the company when manning levels are low. Control of production is constantly developing and shifts with new products, technology and tools. Clear instruction is given to staff to embrace and use these as a way forward for the success of the company and maintain our position as leaders in the world market. Following policies I follow the company policies in all aspects of my work and with discipline. I feel I am firm but fair; I nip things in the bud and deal with conflict in a calm, mature and professional manner. I am trustworthy and always deal with matters with integrity. Respect Respect plays an important role in getting results from staff. I respect everyone and work hard to earn respect from my staff by being a team player and not taking my role for granted. I have worked on every process on each line to different skill levels and am aware of the requirements of each job. I would never expect any member of staff to complete a task I would not do myself. Understanding customers It is important to understand the expectations of customers, to achieve these within the budget and on time. In order to achieve this we work closely to a plan, delivering on time and in full (OTIF). Feedback It is important that recognition is given on a regular basis to staff that are doing well and like wise, support is given to staff who find things a struggle. It is easier to rectify any non-conformance at the very beginning than letting bad habits form. The ability to explain things that are incorrect and how to rectify them is an important management quality. Resolving issues Whenever a major problem comes to light, I tend to bring key skilled personnel such as quality facilitators, department manager, shift manager, manufacturing supervisors, process engineers, fitters, electricians or operators into a brain storming session. We utilise the skills we have developed and use management tools such as, the ‘Ishikawa diagram’, or known to myself as the ‘Fishbone diagram’. Each personnel would have a valuable input using the knowledge that they have obtained from their own perspective. Cause Cause Cause Cause Cause Figure 1: Fishbone diagram as based on the original by Kaoru Ishikawa. In these sessions, we systematically work through inputs that could cause the effect that we see and then place a frame around the problem to find out what is, and is not a possible factor. Further investigation is made into these probable causes until the root of the issue is found. It is extremely important to use all of the skills at hand to have a complete overview. 3. Conclusion Throughout this essay I have explored the use of what are in my opinion, the most important skills to have as a manager. It is not intended as an exhaustive list, but a sample of the many ways people manage. In my opinion the most important skills of management are being able to project manage and coordinate while also having leadership qualities, or personable skills. In the words of John C Maxwell, Anyone can steer the ship, but it takes a leader to chart the course. Within this essay I have explored the nature of the key skills and have shown that in working together with staff, results can be achieved by following these rules.

Corporate Strategy Tata Corus Acquisition Marketing Essay

Corporate Strategy Tata Corus Acquisition Marketing Essay Corporate Strategy is about enabling an organization to achieve and sustain superior overall performance and returns. It is a core responsibility of senior executives and encompasses a range of critical activities, from defining and refining corporate vision to strategic performance measurement and management. Organizations are facing exciting and dynamic challenges in the 21st century. In the globalised business, companies require strategic thinking and only by evolving good corporate strategies can they become strategically competitive. A sustained or sustainable competitive advantage occurs when firm implements a value creating strategy of which other companies are unable to duplicate the benefits or find it too costly to initiate. Corporate strategy includes the commitments, decisions and actions required for a firm to achieve strategic competitiveness and earn above average returns. Corporate growth strategies Growth can be achieved by different means. One approach is from within and another is from outside -that is combinations. Different forms of combinations are: Amalgamation/Merger: Merger takes place when there is a combination of two or more organizations. Merger does create a new corporation. Acquisition/takeovers: One Company acquires another companys controlling interest. The acquired company operates as a separate division or subsidiary by offering cash or securities in exchange for majority of shares of another company. Sales of Assets: A company can sell its assets to another and cease to exist. Holding company acquisition: This is a quasi merger. Either the total or majority of a firms stock will be acquired. The purpose is only management and control of other. Mergers can also be classified into the following forms: 1. Horizontal mergers take place when there is a combination of two or more organizations in the same business, or of organizations engaged in certain aspects of the production or marketing process. For instance a company making footwear combines with another retailer in the same business. 2. Vertical mergers take place when there is a combination of two or more organizations not necessarily in the same business, which complement either in terms of supply of materials (inputs) or marketing of goods and services (outputs). For instance a footwear company combines with a leather tannery or with a chain of she retail stores. 3. Concentric mergers take place when there is a combination of two or more organizations related to each other either in terms of customer functions, customer groups, or the alternative technologies used. A footwear company combining with hosiery firm making socks or another specialty footwear company, or with a leather goods company making purses, handbags, and so on. 4. Conglomerate mergers take place when there is a combination of two more organizations unrelated to each other, either in terms of customer functions, customer groups, or alternative technologies used. For Example: A foot wear company combining with a pharmaceuticals firm. In our project report, we explore the various facets of perhaps one of the most important acquisitions ever made by an Indian Company, that of Tata-Corus. History of the two giants TATA Group Tata Group is an Indian multinational conglomerate company headquartered in the Bombay House in Mumbai, India. In terms of market capitalization and revenues, Tata Group is the largest private corporate group in India. It has interests in chemicals, steel, automobiles, information technology, communication, power, beverages, and hospitality. The Tata Group has operations in more than 80 countries across six continents and its companies export products and services to 80 nations. The Tata Group comprises 114 companies and subsidiaries in eight business sectors. Its total revenue is $67.4 billion, profit $1.74 billion and total assets $52.8 billion. The main aim of the TATA group is to improve the quality of life of the community it serves. The group has played a pioneering role in a variety of fields after Indias independence and it is widely respected for the initiatives it has taken in different fields for upliftment of the country. TATA Steel Tata Steel Group is one of Indias largest integrated private sector steel companies. The group manufactures and distributes steel, welded steel tubes, cold rolled strips, bearings, and other related products. Tata Steel Group operates across Asia, Europe, and Australia. Tata Steel Group is headquartered in Mumbai, India and employs about 86,600 people. The group recorded revenues of INR 1,473,292.6 million (approximately $32,147.2 million) in the financial year ended March 2009 (FY2009), an increase of 12% over FY2008. The operating profit of the group was INR141,279.5 million (approximately $3,082.7 million) in FY2009, compared with an operating profit of INR 141,213.4 million (approximately $3,081.3 million) in FY2008. The net profit was INR49,509 million(approximately $1,080.3 million) in FY2009, a decrease of 59.9% compared with FY2008.It is the worlds sixth largest steel company with capacity of 31 million tones per annum (tpa).The group is the worlds second most geographically diversified steel producer, with operations in 26 countries and commercial presence in more than 50 countries. Tata Steel Groups strong market position gives it advantage of scale and increases its bargaining power. The story of Tata Steel is a century old. And so is the story of steel in India. Etched with the visions and hardships of a single man, the story has flowed through ages to re-define steel in every way. The saga, which started in 1907, completed a century of trust in 2007 and carries on. Over the years this one company has discovered different avenues of effective steel utilisation and its story defines and re-defines conventional wisdom in more ways than one.The Steel Company obtained its first colliery in 1910, adding six more in course of time. Several mines were spread over the states of Bihar, Orissa and Karnataka. The Tatas soon became the first to own a fully mechanised iron ore mine in India at Noamundi. The Coal Beneficiation Plant at West Bokaro undertook beneficiation of low-grade coal, thus helping in the conservation of the fast dwindling resources of high quality coal. The collieries, the mines and the quarries together furnish the bulk of the raw material requirements of the plant. When the entire world was reeling in the Great Depression, the Tatas survived and supplied nearly three-fourth of the countrys steel requirements. By the Second World War, Tatas production capacities had expanded enough to make their prices lower than those of steel produced in England, raising them to an authoritarian position. Post-Independence the Tatas decided to set on the Herculean task of nation building. The much-required steel for the newly devised Five-year Plans came from the Tata factories. The Company undertook the Howrah Bridge in Calcutta, the Bhakra-Nangal Project and the Damodar Valley Corporation, the port at Kandla, the city of Chandigarh and many more important projects. The last decade of the twentieth century happened to be a very hectic period of self-renewal and growth for Tata Steel. An extensive technological overhaul, several improvement projects, cost control measures, optimising IT support and a strong customer-centric approach were all instrumental in finding the right direction for changing outlooks. At the turn of the millennium, Tata Steel had earned the complete trust of the whole wide world and emerged as a strong entity in the global steel industry.The last decade has been marked by Tata Steels prominent role in the overall development of the country, even during phases of economic turbulence and its decisive foray into more and more global territory. Intense strategic thinking about future expansions, plans for organic growth and initiation of new projects are a few highlights in Tata Steels expanding and more penetrative roles in the larger perspective. The acquisition of NatSteel in 2004 was Tata Steels first overseas acquisition a nd the series of joint ventures and mergers that followed found a peak when the acquisition of Corus, happened in April 2007. But in every positive step that the Company has taken towards growth and expansion, involving diverse cultures and geographies, Tata Steel has never lost sight of its great heritage of social and community responsibility. The long journey of Tata Steel has seen the Company re-define its performance parameters in a number of ways to become the global steel industry benchmark for value creation and corporate citizenship. It ensures a total commitment to its ethical business practices and a people oriented vision. SWOT Analysis Of Tata Steel Strengths Strong market position Integrated steel operations in India Strong research and development (RD) capabilities Weakness Dependence on third party suppliers for raw material in Europe Dependence on Europe Opportunities Expansion in India Joint ventures to develop mining activities Anticipated demand for steel in India Threats Consolidation in the global steel industry Environmental regulations Corus Group Corus Group plc was formed on 6th October 1999, through the merger of two companies, British Steel and Koninklijke Hoogovens, following the privatization of many steelworks companies by the U.K. government. The company consists of four divisions which include: Strip Products, Long Products, Aluminum and Distribution and Building Systems. With headquarters in London, Corus operates as an international company, satisfying the demand of many steel customers worldwide. Its core business comprises of manufacturing, development and allocation of steel and aluminum products and services.The company has a wide variety of products and services which comprise of the manufacturing of electrical steel, narrow strip, plates, packaging steel, plated steel strip, semi finished steel, tube products, wire rod and rail products and services. However, the company is also engaged in providing a variety of services including design, technology and consultancy services. Corus products and services are acq uired by customers from diverse fields such as commercial and military aerospace ventures, the automotive, construction, engineering, defense and security, as well as the rail and shipbuilding industry. In terms of performance, the company is regarded as the largest steel producer in the UK. It is headquartered in London, the UK and employs 21,300 people. The group recorded revenues of  £9,733 million during the fiscal year ended December 2006, an increase of 6.3% over 2005. The operating profit of the company  £457 million a decline of 28.9% over 2005. The net profit was  £229 million in fiscal year 2006, a decline of 49.2% over 2005. SWOT Analysis Of Corus Group Strengths Diversified product portfolio Strong technology Diversified geographic presence Weakness Rising expenses Lack of scale Weak returns Opportunities Positive outlook for the aircraft industry Growing US construction industry Growing Chinese steel market Threats Economic slowdown in the US and Eurozone Consolidation in the global steel industry Increase in energy and fuel costs The Deal The deal (between Tata Corus) was officially announced on April 2nd, 2007 at a price of 608 pence per ordinary share in cash. This deal was a 100% acquisition and the new entity was be run by one of Tatas steel subsidiaries. As stated by Tata, the initial motive behind the completion of the deal was not Corus revenue size, but rather its market value. Even though Corus is larger in size compared to Tata, the company was valued less than Tata (at approximately $6 billion) at the time when the deal negotiations started. But from Corus point of view, as the management has stated that the basic reason for supporting this deal were the expected synergies between the two entities. Corus has supported the Tata acquisition due to different motives. However, with the Tata acquisition Corus has gained a great and profitable opportunity to make an exit as the company has been looking out for a potential buyer for quite some time. The total value of this acquisition amounted to à ¢Ã¢â‚¬Å¡Ã‚ ¤6.2 billion (US$12 billion). Tata Steel the winner of the auction for Corus declared a bid of 608 pence per share surpassing the final bid from Brazilian Steel maker Companhia Siderurgica Nacional (CSN) of 603 pence per share. Prior to the beginning of the deal negotiations, both Tata Steel and Corus were interested in entering into an MA deal due to several reasons. The official press release issued by both the company states that the combined entity will have a pro forma crude steel production of 27 million tones in 2007, with 84,000 employees across four continents and a joint presence in 45 countries, which makes it a serious rival to other steel giants. The official declaration of the completed transaction between the two companies was announced to be effective by Court of Justice in England and Wales and consistent with the Scheme of Arrangement of the Tata Steel Scheme on April 2, 2007. According the Scheme regulations, Tata Steel was required to deliver a consideration not later than 2 weeks following the official date of the completion of the transaction. At the time of acquisition, nearly 49% of Corus was owned by British shareholders, 11% by North American shareholders, 10% by Dutch shareholders and another 30% by shareholders in Germany, France, Belgium and other countries. At first, it had appeared that Tata would get Corus unopposed as the bid had received favourable initial response from the Corusà ¢Ã¢â€š ¬Ã… ¸ Board. The Corus board had unanimously accepted Tata Steels takeover proposal and had even recommended it for shareholders approval. However, things changed soon after CSN entered the fray, making a more competitive offer than Tata. The bidding process continued for three months with CSN countering each successive move by Tata with a higher bid for the equity of Corus. For example, when Tata raised their bid to $9.2 billion for Corusà ¢Ã¢â€š ¬Ã… ¸ equity in early December 2006, CSN countered it with $9.6 billion within hours of the Tataà ¢Ã¢â€š ¬Ã… ¸s offer. When months of takeover battle could not determine the winner, UKà ¢Ã¢â€š ¬Ã… ¸s Takeover Panel announced that it would hold an auction with a maximum of nine rounds to decide the winner. The auction took place on 30th January 2007. On the auction eve, Ratan Tata along with Tata Steel managing director B Muthuraman were monitoring the Corus auction taking place thousands of miles away in London. The Tata Sons director Arun Gandhi, their investment bankers and advisers were in London representing Tata Steel. The entire deal timeline is detailed below: Deal Timeline September 20, 2006 : Corus Steel has decided to acquire a strategic partnership with a company that is a low cost producer October 5, 2006 : The Indian steel giant, Tata Steel wants to fulfill its ambition toExpand its business further. October 6, 2006 : The initial offer from Tata Steel is considered to be too low both by Corus and analysts. October 17, 2006 : Tata Steel has kept its offer to 455p per share. October 18, 2006 : Tata still doesnt react to Corus and its bid price remains the same. October 20, 2006 : Corus accepts terms of à ¢Ã¢â‚¬Å¡Ã‚ ¤ 4.3 billion takeover bid from Tata Steel October 23, 2006 : The Brazilian Steel Group CSN recruits a leading investment bank to offer advice on possible counter-offer to Tata Steels bid. October 27, 2006 :Corus is criticized by the chairman of JCB, Sir Anthony Bamford, for its decision to accept an offer from Tata. November 3, 2006 : The Russian steel giant Severstal announces officially that it will not make a bid for Corus November 18, 2006 : The battle over Corus intensifies when Brazilian group CSN approached the board of the company with a bid of 475p pershare November 27, 2006 : The board of Corus decides that it is in the best interest of its will shareholders to give more time to CSN to satisfy the preconditions and decide whether it issue forward a formal offer December 18, 2006 : Within hours of Tata Steel increasing its original bid for Corus to 500 pence per share, Brazils CSN made its formal counter bid for Corus at 515 pence per share in cash, 3% more than Tata Steels Offer. January 31, 2007 : Britains Takeover Panel announces in an e-mailed statement that after an auction Tata Steel had agreed to offer Corus investors 608 pence per share in cash April 2, 2007 : Tata Steel manages to win the acquisition to CSN and has the full voting support form Corus Valuation Due Diligence Tataà ¢Ã¢â€š ¬Ã… ¸s original bid for Corus had been at 455 pence a share in mid-October 2006, valuing Corusà ¢Ã¢â€š ¬Ã… ¸s equity at $8 billion. But as a result of the bitter fight with CSN of Brazil, Tata finally paid a price of $12.9 billion in an all-cash deal, raising doubts that the acquisition would likely turn out to be a winnerà ¢Ã¢â€š ¬Ã… ¸s curse. Within weeks of the acquisition announcement, Tata Steel had lost over $1 billion in market capitalization, as the market reacted negatively to the high price paid. The wealth-accretion advantages of the deal, if any, would accrue in the long term. Immediately, it meant raising huge amounts of debt and equity to finance the deal. Both Moodyà ¢Ã¢â€š ¬Ã… ¸s Investors Service and Standard Poorà ¢Ã¢â€š ¬Ã… ¸s said they might lower Tataà ¢Ã¢â€š ¬Ã… ¸s debt rating which meant that debt financing would likely neither be easy nor cheap. To finance the Corus buy, Tata Steel embarked upon what was perhaps the biggest fund-raising exercise by an Indian company. It raised funds through a number of sources. These included a rights issue of equity shares, rights issue of convertible preference shares and long-term debt including foreign currency structured issues. Tata Steel and its fully owned subsidiaries Tata Steel UK and Tata Steel Asia Singapore were involved in the unprecedented fund raising exercise by an Indian company. Tata Steel UK was also the SPV for the Corus takeover. The whopping about $13 billion was planned to have been raised as shown in the table below Company Source Amount ($ Mil) Tata Steel Internal generation 700 Tata Steel External commercial borrowings 500 Tata Steel Preferential issue of equity shares to Tata Sons 640 Tata Steel Rights issue of equity shares to its shareholders 862 Tata Steel Rights issue of convertible preference shares 1,000 Tata Steel ADR/GDR EQUITY ISSUE 500 Tata Steel UK Non-recourse debt raised from a consortium of banks 6,140 Tata Steel Asia Singapore Bridge finance 2,660 Total 13,002 By early April 2007, Tata Steel had completed the $12.9 billion (Rs 52,700 crore) acquisition of Corus Group plc at a price of 608 pence per ordinary share in cash. The enlarged company would have a crude steel production of 27 million tonnes in 2007 and would be the worlds fifth largest steel producer with 84,000 employees across four continents. Need for the Deal Introduction The Tata Iron and Steel Company (name later changed to Tata Steel) was established by Sir Jamsetji Tata in 1907. By 2006 it was Indias largest integrated private sector steel company. With its recent acquisitions and mergers, the company has become a multinational with operations in various countries. It was recognized as the worlds best quality steel producer in 2005. Though domestically the company had seen significant growth in the 100 years, it ranked a poor number 56 globally in terms of steel output. In order to enhance its market share in the global market Tata steel made several smaller foreign acquisitions, including Singapores NatSteel and Thailands Millennium Steel. But these small incremental deals would not enable Tata Steel to capture the sudden opportunity that had arisen in the steel market. We believe that Tata Steel had to act in response to the changing environment, the industry structure and to exploit its competencies and resources at its disposal, which led to its decision of acquiring Corus, a steel firm much bigger in size compared to Tata Steel. We propose to explain the need for the related linked diversification, logic and reasoning behind the deal through the Resource-Based Model of Above Average Returns and the I/O Model of Above Average Returns. Resource-Based Model of Above Average Returns Deriving Synergies There were a lot of apparent synergies between Tata Steel which was a low cost steel producer in fast developing region of the world and Corus which was a high value product manufacturer in the region of the world demanding value products. Synergies also existed in terms of sharing and manufacturing practices, shared services and purchasing. Also there were other synergies between the two companies; Corus was a large player in value-added services while Tata Steel was one of the lowest cost producers of steel in the world. According to Tata Steel Annual Report of 2007-08 the expected synergies and efficiencies had already started flowing in and would bring in annual benefits of USD 450 million per annum by year 2010. Raw Material Tata Steel also has a relative cost advantage because it owns iron-ore mines which Corus did not. Corus was fighting to keep its productions costs under control and was on the lookout for sources of iron ore. (Tata Steel owns enormous volumes of high-quality iron ore and other minerals needed for steel-making. Captive raw materials linkages have given the modernizing and expanding Jamshedpur mill a competitive edge. Tata Steel is set to build greenfield mills in iron ore-rich states of Orissa, Jharkhand and Chhattisgarh). The joint entity will have a self sufficiency in raw material. Cultural There was a strong culture fit between the two organizations both of which highly emphasized on continuous improvement and ethics. Tata steels Continuous Improvement Program Aspire with the core values: trusteeship, integrity, respect for individual, credibility and excellence. Coruss Continuous Improvement Program The Corus Way with the core values: code of ethics, integrity, creating value in steel, customer focus, selective growth and respect for our people. Importantly, the rest of cultural differences between the two companies had been taken care of and the two merged entities were working under their joint management. Tata Steels earnings per share had improved after the merger. Sharing Competencies According to Ratan Tata, post-merger the immediate focus would be on extracting synergies from Corus. He felt that there was scope to make Corus a competitive steel company by inculcating the creativity and cost-consciousness in Corus as had been generated in Tata Steel. Product Mix Geographical and product mix possibilities. The combined entity will emerge as the second most geographically diversified steel company. It will have access to high valued- added product mix and strong market positions in automotive, construction and packaging. Reputation The Corus acquisition allowed Tata Steel to enhance its reputation and acquire a Global name. This has the potential to open up other markets for steel for Tata Steel, improve its bargaining power with respect to suppliers and customers. Sharing Complimentary Strengths Corus has a strong Research and Development (the number one position in the entire world) and product development for value added products in auto, construction and packaging which compliment what Tata Steel is doing in the fast growing Asian markets. A merger would complement their respective strengths. Low Cost Slabs Tata Steel has large supply of iron ore slabs from its green fields established in India in places like Orissa, Jharkhand, etc. Tata Steel can supply this slabs to Corus once these green fields in India are complete. In addition, there will be other ways to create value, linked to the projects of Tata Steel in India today. Patents and Technological know-how Corus has eighty-one patents that have been filed and assigned to the Corus by the United States Patent Trademark Office. Tatas completion of the acquisition meant it ended up becoming the owner of these patents. There would be technology transfer and cross-fertilization of RD capabilities between the two companies that specialized in different areas of the value chain. Distribution Network Tata has a strong retail and distribution network in India and SE Asia. This would give the European manufacturer a in-road into the emerging Asian markets. Tata was a major supplier to the Indian auto industry and the demand for value added steel products was growing in this market. Hence there would be a powerful combination of high quality developed and low cost high growth markets. With Tata Steel the cheapest manufacture of steel in the world the new company will become highly profitable. Strategic and Integration Committee A Strategic and Integration Committee was formulated to develop and execute the integration and further growth plans. Appropriate cross functional teams were formed under this committee to look into specific issues. There were some concerns over the lower return of capital employed and EBIDTA margins in 2007-08 which seemed to have declined. As debt would be repaid over the years, the EBIDTA margin as well as return of capital employed were likely to improve, but would need to be carefully watched. I/O Model of Above Average Returns Scanning At around eight per cent of GDP growth, India is seen well poised for a burst in development, a high increase in production output and a surge in demand for various goods from the common people of India. Industry experts are buoyant and bullish on the economic, demographic (in terms of young workforce, increase in incomes and hence an increase in consumption), and the helpful political environment (in terms of tax reliefs to industries, a commitment from the government to implement and introduce policies which further the interests of commerce). The Tatas were able to identify the early signals of potential changes in the environment and detect the changes that were underway. They were able to connect the dots and realize that as a result of the above changes in the environment the steel industry would look more and more attractive. There would be more need of steel due to the growth of car and aviation industries. Monitoring It was clear that in a fragmented steel industry to get the cost advantages and a competitive edge to exploit the emerging opportunities consolidation was needed in the steel segment. This logic was the basis for a spree of mergers and acquisitions pursued by Tata Steel. The rapid progress of the Indian automobile, engineering and construction industries means that the country will need more and more high-quality steel and it is seen that the global steel prices are on an incline. Access to Corus technology will, in course of time, allow Tata Steel to move up in the value chain. The acrimonious but successful Mittal-Arcelor deal also gave Tatas sufficient signal on consolidation being the emerging trend in the steel industry. Forecasting Although, Tata Steel was Indias largest integrated private sector steel company but globally ranked number 56 in terms of steel output. The Tatas realized that the Corus buy would instantly catapult Tata Steel to the position of 5th largest steel producer in the world, and provide access to the latest technology and strategic European markets as Corus had plants in Britain, Germany, France, the Netherlands and Belgium. It was also expected that Tata Steel would benefit from reduced production costs due to large volume, combined RD operations and broader product range. Corus acquisition would also dovetail with Tata Steels efforts to move up the value chain, as the former had built a reputation as an established supplier to the aviation and auto industries. Assessing Brazilà ¢Ã¢â€š ¬Ã… ¸s CSN and other players were also trying hard to acquire Corus which meant that a quick acquisition was the only alternative. Tatas had and assessed the situation realized the need to act quickly and swiftly. It was clear that a small window for a big opportunity had opened up for Tata steel. This was a risky consolidation, considering that the future of Tata Steel is dependent mostly on Corus performance but it is well known that entrepreneurial decisions involve risk. We can understand that it may be one of the entrepreneurial decisions that Tata Steel had to make for the future success of the company. Aftermath of the deal Post merger integration is the biggest challenge in any acquisition. But before we look at the challenges, let us first look at the immediate synergies that TATA Steel aimed at before going for the deal and how it obtained them after the deal. Synergies Advantages After the acquisition, TATA-Corus combine became the 5th largest steel producer in the world with an output around a quarter that of the largest, Arcelor Mittal. Before the deal, TATA Steel was not ranked among the top 50 global steel producers in 2005/06, producing just 5.3mn tonnes. Corus, by contrast was the 9th largest producer with an output of 18.2mn tonnes. Economies of scale have a very significant impact on any steel firm. This deal came at a time when consolidation in the steel industry was a necessity with increase in demand from China A growing presence in Asia and the developed European economies would surely leverage the economies of scale from Europe and harness growth from Asia The two corporations made a formidable presence a presence in 42 countries, a combined capacity of 25mn tonnes and a collective sales turnover of Rs 1 lac cr (March 2008 estimates at the time of the deal) The deal came at a perfect time for TATA Steel after its successful acquisitions of Singapores NatSteel in 2004 and Thailands Millennium Steel in 2005. Acquisition of Corus, a steel giant in the Western markets, gave TATA access to the vast distribution network as well as the opportunity to become a global player. TATA is a low cost producer of steel and Corus is famous for its value additions and technology especially in manufacturing of steel used in high rise buildings. The acquisition paved the way for TATA to access the RD facilities of Corus as well as to introduce its low cost production techniques in the Western markets. This can be considered as one of the most important synergies in the entire deal. The deal helped the TATAs in getting 20mn tonnes of steel capacity at virtually half the price as such a capacity would have required nothing less than $20bn $25bn as per 2006/07 estimates. The synergie