Five Goals Expected to Learn From Business in Singapore Essay - 7

Five Goals Expected to Learn From Business in Singapore - Essay Example It is planned to carry on research and form an understanding of how Singaporean culture relates to and how they do business. How Singapore do business with another country which does not agree with their beliefs? This research paper will try to analyze the Singapore Culture through the lens of Hofstede’s dimensions and evaluates the same with the American culture and to find out the main areas of issues for the business between Singapore and USA thereby offering a recommendation to fish out these differences to further enhance mutual business between these nations. (www.geert-hofstede.com/singapore.html, 2014). Singapore culture can be regarded as ‘pro-west’ in many manners and it more or less reflects the Anglo-culture. The traditional Singaporean culture encourages the work culture that is comprised of collective decision and group harmony and Western business people who visit Singapore would often face a vast variance and clearly visualize how collectivism still exists in a modern society (Wong, 2013, p.132). In this section of the research paper, more emphasis will be given to what is Singapore’s impact on the business world internationally not just local or regionally? IFC and the World Bank rate Singapore as leading and number one nation as regards to ease of doing business and places Singapore is in the second place in the international level for the strength of investor’s protection. The port of Singapore remains as the globe’s busiest seaport and remains as the second top center for containerized transhipment traffic. Singapore remains as the globe’s 4th largest center for foreign exchange activities.  

Tornadoes;From start to finish Research Paper Example | Topics and Well Written Essays - 1000 words

Tornadoes;From start to finish - Research Paper Example They can wipe out an entire town in a matter of minutes. Scientists are still unclear as to the true cause of a tornado, but it usually forms when the cold polar air from Canada meets the warm tropical air from the Gulf of Mexico. Great instability is caused by the rising warm air; as a result, a giant rotating thunderstorm called a supercell is formed. Then, a squall line or narrow zone of cumulonimbus clouds appears. Lightning flashes, heavy rains, and hail begin to fall. After that, the funnel part of the tornado seems to descend from the base of the cumulonimbus clouds. But, this does not really happen. What really happens is the pressure within the cloud drops due to the increasing wind speeds. This is known as Bernoulli’s principle which states that as the speed of a moving fluid increases, the pressure within the fluid decreases (mitchellscience.com). As the pressure drops, it causes moisture in the air to condense. This action continues down the spiral, giving the impression that the funnel is descending from the cloud base . In addition to the visible funnel, there is also a hissing sound, which turns into a loud roar when the tornado touches the ground. Once the tornado reaches the ground, it starts to gather debris around it (ORACLE.ThinkQuest.org). This changes the color of the tornado. Tornadoes appear nearly transparent until they touch the ground and pick up dust and debris or a cloud forms in the funnel. Once they are formed, the average speed of a tornado is 30 miles per hour, but this may vary from stationary to 70 miles per hour. Tornadoes have been noted to move from Southwest to Northeast. But, they have also been known to move in any direction. Tornadoes move in a path that is controlled by the route of their parent thundercloud, and they often appear to hop. This happens when the vortex is disturbed. A vortex is easily disturbed, but it can also reform. This can also happen

Assessing financial management within Tesco plc

Assessing financial management within Tesco plc 1.1 Determine how to obtain financial data and assess it validity Tesco is Britains leading retailer. We are one of the top three retailers in the world, operating over 2,711 stores globally and employing 366,000 people. Tesco operates in 11 countries outside the UK Republic of Ireland, Hungary, Czech Republic, Slovakia, Turkey and Poland in Europe; China, Japan, Malaysia, South Korea and Thailand in Asia. Everyday life keeps changing and the Tesco team excels at responding to those changes. Tesco has grown from a market stall, set up by Jack Cohen in1919. The name Tesco first appeared above a shop in Edgware in 1929 and since then the company has grown and developed, responding to new opportunities and pioneering many innovations. By the early 1990s we faced strong competitors and needed a new strategy. We were good at buying and selling goods but had begun to forget the customers. Sir Terry Leahy, who became Chief Executive in 1997, asked customers the simple question what are we doing wrong? . We then invested in the things that matter to customers. For example, we launched our loyalty scheme Club card and Tesco.com, our internet home shopping service. Going the extra mile for customers has been key to our growth. We want to make customers lives easier and better in any way we can. Most plcs have their Annual reports available from their own web sites .. look for Investor Pages or Corporate News etc. Others can be downloaded as PDFs from sites like FTSE, Yahoo Finance etc. It is well known that high employee satisfaction contributes significantly to high customer satisfaction, which drives intent to return, and therefore, financial results. High employee satisfaction expresses itself as enthusiasm in ones work, which directly impacts the experience of the customer. Likewise, high customer satisfaction expresses itself as enthusiasm toward a particular organization, its products or services, which directly impacts the intent to return rate. It is a short leap, then, to understand how a high intent to return rate among customers impacts financial results. But with so many variables affecting employee and customer satisfaction, how does one determine those of greatest importance, so that interventions aimed at increasing satisfaction are of maximum effectiveness? The answer is in the root cause analysis derived from employee and customer survey data, (West, S.J.DR, 2009). 1.2 Apply different types of analytical tools and techniques to a range of financial documents and formulate conclusions about performance levels and needs of stakeholders When implementing human performance improvement, most organizations hope and expect that it will have an effect on the bottom line that there will be a financial benefit that justifies the improvement effort. But human performance is a complex entity, and translating changes in performance into quantitative and financial results is often a daunting task. In the ideal, it is desirable to generate a causal chain of evidence from the intervention to the final financial impact. For instance, consider a simple performance improvement intervention such as a training program. In order for the program to affect the financial bottom line of the organization, we must first assure that the training is in an area that is relevant to the bottom line. It is, after all, possible to do training on topics that are irrelevant to financial performance. Assuming that the training is relevant, we might expect that it first needs to affect the knowledge and skills of the learners. Even if it does, it will not be translated into human performance unless the learner is motivated to use the knowledge. Even if the learner wants to use the new knowledge, there are any number of factors that can prevent them from doing so, or cause them to try under less than optimal conditions. Even if the learner performs perfectly, this performance may not affect the overall performance of the business (e.g., how efficiently departments process products). And, even if there is an effect on busi ness performance, there may not be a corresponding financial impact (depending on how relevant the business performance is to financial results). We see that in most performance improvement contexts, the causal chain from the program to final result is often a long and difficult one. The method described in this paper falls into the class of statistical estimation approaches to financial returns. It has several key advantages over other methods of estimating financial returns: It requires only a small investment of client participant time typically less than one hour to determine reasonable estimates of project-level financial benefits. It calculates boundaries on financial return estimates (i.e., lower and upper limits), rather than just a single value. It integrates financial return estimation with human performance measurement at all levels. In this approach, project costs are estimated using traditional accounting procedures. Project-level financial benefits are estimated by a client participant group using an iterative Delphi methodology. These cost and benefit estimates are proportionally distributed across performance goals and objectives and weighted by observed performance. The performance-weighted financial returns (i.e., Benefit/cost ratio and ROI) can then be presented for each performance objective, performance goal, or the whole project. There are several key assumptions in this approach: Because all financial estimation methods are fallible, it makes more sense to estimate a range of financial return values within which the true value is likely to fall. In statistical terminology, rather than doing a point estimate, it is desirable to do an interval estimate. Following common statistical practice, for each financial return estimate, the 95% confidence interval will be calculated. With this interval, the odds are 95 out of 100 that the true estimate falls within the range. All financial estimates are calculated for a fixed period of time. Typically, returns are estimated on an annual basis. However, for many performance interventions, it is reasonable to expect that the major effects will accrue over time periods longer than one year. If this is the case, it will usually be desirable to estimate the returns for multiple years. Since the costs of interventions are not likely to be distributed evenly over time, it is also necessary to estimate costs for the same time pe riods. Depending on the situation, it may be reasonable to amortize some of the first year costs over a several year period. It is actually quite simple to implement in practice, assuming you have taken the time to develop a performance hierarchy. Once a hierarchy exists, all thats needed is an estimate of total costs and benefits for the project. Total costs should be relatively easy to obtain. Before implementation, one could use the budgeted amount for the program as an estimate. After the program is implemented, one simply uses the accounted costs for the project. To estimate benefits requires the Delphi procedure described earlier. This is a relatively simple process that should be easy to accomplish in less than an hour of participant time. The bottom line here is that a good performance measurement system will enable relatively easy estimation of financial results there is little additional marginal cost to estimating financial outcomes, assuming you have a well-constructed measurement system. The Concept System approach is designed so that the performance hierarchy is correctly constructed. Adding in the estimation of financial returns is then a relatively simple and inexpensive addition that yields critical information about the financial impacts of the performance improvement project, (Trochim .M.K.W, 2009). 1.3 Conduct comparative analysis of financial data Financial analysis refers to an assessment of the viability, stability and profitability of a business, sub-business or project. It is performed by professionals who prepare reports using ratios that make use of information taken from financial statements and other reports. These reports are usually presented to top management as one of their bases in making business decisions. Based on these reports, management may: Continue or discontinue its main operation or part of its business Make or purchase certain materials in the manufacture of its product; Acquire or rent/lease certain machineries and equipment in the production of its goods; Issue stocks or negotiate for a bank loan to increase its working capital; Make decisions regarding investing or lending capital; Other decisions that allow management to make an informed selection on various alternatives in the conduct of its business. Financial analysts often assess the firms: 1. Profitability its ability to earn income and sustain growth in both short-term and long-term. A companys degree of profitability is usually based on the income statement, which reports on the companys results of operations; 2. Solvency its ability to pay its obligation to creditors and other third parties in the long-term; 3. Liquidity its ability to maintain positive cash flow, while satisfying immediate obligations; Both 2 and 3 are based on the companys balance sheet, which indicates the financial condition of a business as of a given point in time. 4. Stability- the firms ability to remain in business in the long run, without having to sustain significant losses in the conduct of its business. Assessing a companys stability requires the use of both the income statement and the balance sheet, as well as other financial and non-financial indicators. Financial analysts often compare financial ratios (of solvency, profitability, growth, etc.): Past Performance Across historical time periods for the same firm (the last 5 years for example), Future Performance Using historical figures and certain mathematical and statistical techniques, including present and future values, This extrapolation method is the main source of errors in financial analysis as past statistics can be poor predictors of future prospects. Comparative Performance Comparison between similar firms. These ratios are calculated by dividing a (group of) account balance(s), taken from the balance sheet and / or the income statement, by another, for example  : n / equity = return on equity Net income / total assets = return on assets Stock price / earnings per share = P/E-ratio Comparing financial ratios are merely one way of conducting financial analysis. Financial ratios face several theoretical challenges: They say little about the firms prospects in an absolute sense. Their insights about relative performance require a reference point from other time periods or similar firms. One ratio holds little meaning. As indicators, ratios can be logically interpreted in at least two ways. One can partially overcome this problem by combining several related ratios to paint a more comprehensive picture of the firms performance. Seasonal factors may prevent year-end values from being representative. A ratios values may be distorted as account balances change from the beginning to the end of an accounting period. Use average values for such accounts whenever possible. Financial ratios are no more objective than the accounting methods employed. Changes in accounting policies or choices can yield drastically different ratio values,( Web 1, 2009). 1.4 Review and question financial data In November 2007 the Panel identified the areas in the economy considered to be under most strain as the banking, retail, travel, commercial property and house-building industries. The Panels selection of accounts for review in 2008/09 has been biased towards these sectors as annual financial statements and half-yearly accounts have become available. These reviews are continuing and the Panel is in correspondence with a number of companies. The Financial Reporting Council (FRC) has also taken a closer look at impairment and liquidity two aspects of reporting that are of increased significance given the pressure from the restricted availability of credit and reduced expectations for growth in the economy. The FRC is reviewing the goodwill and related impairment disclosures of 30 listed companies with significant goodwill balances at 31 December 2007 and the liquidity disclosures of 30 listed companies that have announced profit warnings or rescue fund raisings in the first half of 2008. The FRC will publish brief reports on its findings later in October. In 2007/08, the Panel reviewed 300 sets of accounts (2006/07: 311) and wrote letters to 138 companies (2006/07: 135) asking for further information about areas of possible non-compliance with the accounting requirements of the Companies Act 1985 (the Act) or the Financial Services Authoritys (FSAs) Listing Rules. At the time of writing this report, all but 17 cases are concluded. On the basis of accounts reviewed to March 2008, the Panel has concluded that the current standard of corporate reporting in the UK is good. The areas of reporting that prompted most questions were those dealing with more complex accounting issues or where the exercise of judgement b y management is most critical. The Panel did not identify any systemic issues requiring immediate remedial action. The Panel does not ask questions about reports and accounts in order to test its judgement against that of management. Directors, with the assistance of their professional advisers, are best placed to apply corporate reporting requirements to the particular circumstances of their companies. The Panel asks directors for additional information or explanations when it needs to clarify the facts and circumstances attaching to specific events, transactions or conditions reflected in reports and accounts. Once these are available the Panel is better placed to consider the thought processes applied to the reporting requirements, particularly the extent to which management has relied on working assumptions that are supported by a realistic appraisal of past performance and experience and future expectations, taking account of risks and uncertainties. It is the Panels experience that reports which clearly set out the companys business model are those which are easiest to understand. The Panel continues to be pleased by the way in which directors co-operate openly and constructively with the Panel and by their willingness to volunteer undertakings to improve the quality of their future annual and halfyearly reports. Company responses to the Panels letters of enquiry continued to be well considered. Directors who answered the questions they were asked, who presented well analysed and comprehensive replies, and who involved audit committees and external auditors in the process will usually have found that the Panel was able to conclude its enquiries after minimal exchanges of correspondence. The Panel published two press notices in the year in respect of companies that had failed to comply with the requirements of the Act. These companies restated comparative amounts in their next set of annual and half-yearly financial statements. UK companies with securities traded on a regulated market have been required since 2005 to prepare their consolidated financial statements in accordance with IFRS. From January 2007, AIM quoted companies have also prepared their accounts in accordance with IFRS as required by the Stock Exchange. The Panels experience is that there has been good progress and that the overall quality of financial statements has improved since 2005. The areas referred to below represent those where there is room for further advances in quality, particularly in the context of the difficult current conditions in the financial markets. Disclosure points that were frequently raised with companies during the period under review are noted at the end of the section. During the year to March 2008, the Panel reviewed the accounts of 10 retail and investment banks reporting under IFRS. The Panel considered compliance with all applicable reporting standards. The Panel identified banks as a priority sector in its accounts selection for 2008/09. Reviews conducted in the current year have concentrated on disclosures of financial risks as required by IFRS 7, the results of which will be reflected in the 2009 Panel Report. Issues raised varied between banks and there was no evidence of systemic reporting weaknesses. Most of the points raised indicated a need for refinement of certain disclosures rather than significant changes in recognition or measurement policies. The Panels remit was extended during the year to cover directors reports, including the business review, for periods commencing on or after 1 April 2006; effectively 31 March 2007 year ends. The following summarised findings therefore relate only to a minority of accounts reviewed in the period to March 2008. Comments on business reviews now feature regularly in the Panels correspondence with companies. The Panels approach to the business review was set out in a press notice published in September 2007 and also in a paper made available on the FRRP website, (Web 2, 2009). 2: Be able to assess budgets based on financial data to support organizational objectives. 2.1 Identify how a budget can be produced taking into account financial constraints and achievement of targets, legal requirements and accounting conventions The modern U.S. budget process dates from the Budget and Accounting act of 1921, which required that federal agencies request their funds from Congress only through the presidents budget. This act reflected in the view that the budget is a financial plan for the government, which has become among the most common ways of characterizing it. Equally frequent is the statement that the budget is ultimately a political document or that the budget process is ultimately a political one. Perhaps because they are stated so frequently, these phrases tend to be passed over, as if their implications were obvious. On reflection, however, the combination of a comprehensive financial plan that becomes a reality with a political process driven by the structure of the US governmental system hardly seems to be a formula for rationally driven, clear and effective budget. That there are shortcomings is not so surprising. The budget is a financial plan, but it is one of extraordinary scope and detail. Modern budgetary practice recognizes three major levels which the budget addresses: Macro economic (concerning the degree to which the budget affects national savings consumption investment and output), Major sector choices or national needs Karen including considerations of both expenditure policy and tax policy), and Detailed program design and execution. Simply put, the budget attempts to cope with this dilemma: people want individual pieces of the budget to be larger but for the total to be smaller. Steps in the Evolution of the Budget Process Budget and accounting act of 1921 established a single federal budget proposed by the president to Congress Post-World War II evolution of fiscal policy incorporated the budget as a factor in determining the direction of the economy Budget and deficit control act of 1973 created a congressional budget process and provided for specific measures for the president to propose and the Congress to act on reductions in approved appropriations. Graham Rodman Hollings provided for automatic cuts in budget outlays in the event deficit targets were exceeded Budget enforcement act provided specific limits for annual appropriations and created zero sum rules for changes to an entitlement programs and revenue measures. A major purpose of Budget concepts is to create a level playing field on which advocates for using the public treasury may meet in fair and open competition. Continuing the familiar analogy, the budget process provides the rules of the game. However, the game may be played by five- year-olds, and there can be as many referees yelling from the sidelines as there are players maybe more. Five-year-olds understand cheating, which is not to be condoned, but they also understand that changing the rules of the game, redefining what constitutes winning and getting a referee to rule in your favor are all excellent substitutes. It is not a coincidence that insiders discuss budget scorekeeping as something that is malleable, (Mathiasen.D,2009). 2.2 Analyse the budget outcomes against organization objectives and identify alternatives. 1. An operating budget is a formal, written plan that aligns the operating requirements with the funding sources of an organization. An operating budget reflects the missions and specific command objectives of the organization, as well as any limitations and controls (e.g., constraining targets, available funds) imposed upon it. An operating budget provides one the means to control obligations and expenditures against approved funding levels. 2. The objective of the operating budget is to provide managers with the ability to plan, organize, staff, and control the operations to accomplish the mission for the fiscal year. 3. There are several factors that are critical to the success of an operating budget. The following is a synopsis of those factors that need to be present to create a positive effect on the process. a. Management Support. Managers at all levels must support the operating budget concept not only in the formulation stage but through the execution stage. b. Guidelines. Guidance must be issued early to allow sufficient time for logical thought processes to take place, and to allow time for establishing milestone dates, specifying targets and limitations, defining terms, formats, and cost categories. c. Periodic Review. Operating budgets must be reviewed periodically to determine that the budget is properly executed. Appropriate adjustments can be made after these reviews. d. Level of Control. The responsibility for budget preparation and execution must be assigned to the level of management that has the responsibility and authority to control costs. Managers should not delegate this responsibility to personnel who do not have the skills and knowledge needed to prepare the organizations operating budget. Budget formulation and execution responsibilities should be incorporated into each appropriate managers performance standards to ensure accountability. Operating Budgeting Process The operating budget process consists of seven phases. Following is a brief description of each phase. Phase 1. Formulation This is the initial phase of the operating budget process. Budget Officers identify policies and guidance from HQUSACE and local areas of concern. Budget Officers will also determine the workload (income and expense), identify targets and limitations (planning and design, supervision and administration, overtime, travel, training, awards, etc.), income estimating guidelines and budget milestones. Phase 2. Review and Analysis Budget Officers review the initial input from the organizations for reasonableness, accuracy, valid assumptions, and past performance. They are also responsible for ensuring rates for departmental overhead, general and administrative overhead, facility accounts and plant accounts are appropriate and reasonable. Budget Officers prepare a proposed budget, identify the impact of alternatives to the proposed budget, make recommendations, and present the proposed budget to the PBAC (Program and Budget Advisory Committee). Phase 3. PBAC Review and Consensus The PBAC will review the proposed budget and alternatives and will determine a recommended budget for submission to the Commander. The PBAC may identify unfinanced requirements, showing their dollar amounts and justifications. Significant changes will be approved by the PBAC and the Commander. Phase 4. Approval The Budget Officer submits the PBAC recommended budget and alternatives for final Command approval. The approved operating budget is made available for execution. Phase 5. Execution Managers obligate and expend funds in accordance with the approved operating budget. Phase 6. Monitoring Operating budgets should be monitored on a monthly basis. Feedback reports are available to managers for monitoring actual performance compared to budgeted amounts. The Budget Officer provides periodic execution reports and analysis to the PBAC and the Commander. As a minimum, mid-year review will be completed. Phase 7. Adjustments Significant operating budget changes identified during the monitoring stage will be summarized and presented to the PBAC and the Commander for approval, (Genetti.A.JR, 1998). 3: Be able to evaluate financial proposals for expenditure submitted by others 3.1 Identify criteria by which proposals are judged The Sustain our Nation experts will be judging proposals using the following criteria: Identifying a Need Does the proposal address one or more of the five key themes? Does the proposal identify a genuine social need without creating issues or problems? User Empathy Have the relevant target individuals and groups been fully consulted in order to identify a legitimate issue? Does the designer fully understand the lifestyle and attitudes of the end user/stakeholders? Sustainability Has the designer considered the triple bottom line: economic, social and environmental factors? Innovation Does the proposal demonstrate a breadth of innovation and creativity? Business planning Are the business/enterprise, its objectives, strategies and market credible? Does the application include viable financial forecasts? Quality of presentation Is the presentation of a professional standard with cohesive narrative and appropriate visuals? (Web 3, 2009). 3.2 Analyse the viability of a proposal for expenditure Calculation of Financial and Economic Viability    Financial and economic appraisal is an important component of any project without which it is incomplete. Increasing awareness about the use of scare resources and the returns obtainable from it makes the issue more important. Financial analysis is used to describe the commercial viability of the project and shows its strength from financial angle. The concept of economic analysis can be considered as an extension of the financial analysis. In economic analysis the concern is on the developmental effect on the society/economy as a whole as against the financial analysis that bothers the interest of the specific entity. In the present report, financial analysis has been done for each market and of each category. Assumptions In the absence of past trends and its proper records it is necessary to make certain assumptions based on the reality of situations for assessing the true viability of any project. For this master plan, following assumptions have been taken:   i) Economic Life of the Project The horizon is important for calculation of benefit and cost of a project. Generally, 20-25 years period is considered proper as economic life of the project. In present case, calculations have been made assuming the economic life of the markets as 20years ending at 2020 A.D.   ii) Growth Period Proposed proposals for market development in Chhatishgarh is very simple. In number of markets, already minimum necessary requirement of construction has been met out and only a small addition or change will take place. In other cases markets would come up in a reasonable time. Therefore, it has been assumed that three-years period will be sufficient for completion of the proposed construction to make the new market yard fully operational. The full revenue in the form of ground rent is expected to flow after a gestation period of three years only.   iii) Occupancy    While making calculations, it has been assumed that all sellers operating in the market at present will shift and occupy space in new market, as they would get better trading facilities. Therefore, 100% space occupancy along with zero leakage of revenue has been considered. Occupancy of space in godown has been estimated for three to six months only in a year since space in godown may be utilized or in demand during harvesting and peak marketing season of different commodities. iv) Income and Expenditure    The main source of income of markets is market fee, leased rent and other sources of income. The income from market fee is assumed and computed at the rate of 1.5% of the value of arrivals expected with the implicit assumption that all the markets will be regulated and there will be a market committee to supervise the market operations and collect the market fee. The growth rate, which has been used for projecting the arrivals, is used for projecting income from this source for next 20 years i.e. up to 2018. Base year value is based on the actual value of arrival for the year 1998-99.   The other main source of income is rent chargeable on buildings. Rent has been assumed at 14% of the cost of construction of trading section and non-trading sections. No change rental has been proposed. While projecting income from this source it would get generate after the gestation period of three years is over. Usually, rent can be increased @10% after every 3 years, which would be, beneficial to the markets. Other income includes fines, sale of forms etc. that has been assumed  £.20,000 per annum and has been kept constant.   Various kinds of expenditure items like establishment cost, repair and maintenance, cost of land, capital cost etc. have to be looked into before preparing cash-flow statement. Establishment cost has been assumed @30% of the market fee expected, as the present staffing plan and expenditure was not available. Repair and maintenance cost has been estimated at 1% of the total cost. A lump sum amount of  £.5000 has been kept as miscellaneous expenditure to meet any contingency. Each market committee has to contribute Marketing Board Fund out of its income. Accordingly, it has been proposed that each market will contribute 10% of its market fee to this fund and the same has been kept as one of the component of operating expenditure. Gross benefits have been worked out for 26 years by deducting total operating expenditure from total income. Net benefits are net of interest payment and depreciation. Depreciation has been estimated by the straight-line method i.e. total capital cost divided by the life of the project assumed a

Womens Ice Hockey :: Sports Essays

Womens Ice Hockey The fight for women's ice hockey players to earn respect and acceptance has been hard fought over the past one hundred years. Women have constantly been told that they can not play with men and that there sport is a second rate version of the men's game. The road of women's ice hockey has had many ups and downs but has perservered to the present day and is stronger than it has ever been. The future of women's ice hockey is bright thanks to diligence and hard work of those who kept it all going. Ironically women began playing the sport side by side with men over 100 years ago right at the sports inception. One of the oldest action pictures featuring ice hockey shows men playing with women. Part of the reason that women enjoyed early participation with men is because of the way that the public viewed the game. At the start, hockey was seen as a recreational activity. Women have been routinely barred from participating in serious and competitive sport, but if the game is viewed as merel y recreational then women are more accepted. In the 1890's this is what happened to the sport of ice hockey. Suddenly the game was more than recreation and organization entered, rules were drawn and leagues were formed. With the new structure came segregation of the sexes. As the sport progressed for the men, the women were left behind. In spite of all this, the first all female organized game was played in Barrie, Ontario in 1892. Women's ice hockey slowly limped on up until the 1920's. In the 1920's womens ice hockey began to pick up again. Amateur, college and junior level teams were formed and the women's sport became much more organized. In 1924 the Ladies Ontario Hockey Association was formed and would for years be the benchmark of women's ice hockey. Bonnie Rosenfield, a tremendous Canadien athlete who won Olympic medals in Track and Field would be the sports first true superstar. Bonnie grew up in a hockey family and became a very skilled player at a young age. She became irritated with the lack of opportunity for women and took up track were she excelled on an international level. She returned to hockey though with the formation of the LOHA. She became the leagues first star and became a role model for young women who also wanted to play the game.

Advanced technology social interactions among young adults

Over the recent years, there has been an advance in technology that has greatly changed the way people interact socially and the way they work. Technological advancement in the communication sector especially has given rise to faster and improved modes of communication.One such mode of communication is the internet or world wide web (www). The Internet is a mode of communication that interconnects different independent networks to turn the world into one big village.This has been made possible through the invention of a new type of computers that have improved speed, high data storage capacity   and are small in size as compared to the older generation computers. They are also user friendly (Daniel J. Myers (2000).Thesis statement The Internet operates through communication software that enable the users to get access to the Internet. These are programs such as Mozillafirefox, Miocrosoft |Internet Explorer, Netscapes Navigator to name but a few. We also have programs that enable th e user to access information about any subject that he/she wishes to explore.Such programs are known as search engines and good examples are www.Google.com and www.yahoo.com. Such programs provide email and internet services. To add the list are Instant Messaging or chatting, blogging, Social Networking Sites and computer games among others.Telephone lines are used to interconnect different computers to enableflow of data or information. Through the   internet, communication has become faster and more reliable and a short text message (sms) is as reliable as a telephone call (Blaise W. Liffick, Ph.D.)Telecommunication sector has also benefited from the introduction of a convenient and fast mode of communication, the mobile phone. As the name suggests, this phone is portable and it ensures one of communication wherever you go as long as the area is covered by a network.Advanced technology has interconnected the computer, mobile phone and radio communication in such a way that a use r is able to listen to the radio online or through their mobile phone.The people who have embraced this kind of change in technology are the youth and this has greatly affected the way the that they interact within society. Improved computer literacy has favored the young people in that majority of them are computer literate and can understand the computer language.The youth for example are the dominant group that will be found at social networking sites. To understand better how advanced technology has affected the life of the young adult generation, we need to explore a bit into the different methods of communication.The mobile phone is the most easily accessible gadget used in modern day communication.   Millions of people worldwide especially the young adults have embraced this mode of communication and majority own mobile phones.A mobile phone has great advantage over a fixed telephone or computer in that it is portable and helps the user take communication wherever he or she goes. Communication has become faster and cheaper through calls or short text messages and people are now closely knit together through this network.Improvements to this service have given rise to radio and email communication through the mobile phone and one can now access the internet of listen to radio through the phone. Mobile phone communication means that information goes with you wherever you are.Through the mobile phone, it has become very easy to keep contact with colleagues such as former schoolmates, parents, friends etc.Everything has its own disadvantages and the mobile phone is no exception. Wrong information can easily be relayed through this mode of communication and lawbreakers have taken advantage of this.Unruly youths have been able to organize criminal activities in a faster and more organized manner making it difficult for the law to get them. The mobile phone has been a source of breakups in relationships as people disagree on phone. Young adults are most pron e to this kind of problem.The internet also known as the web or cyberspace has turned the world into one village by interconnecting and the world can now meet together on the internet.Anyone who can be able to access the internet has access to almost everything they need. Where young people previously referred to libraries and archives for information, they can now collect materials from the internet.  The internet works through a collection of web addresses or www which enable the user to access the internet . This is done through internet service providers who make these web pages accessible to the users. Various computer programs enable the user to carry out different functions over the internet such as chatting,   teleconferencing, blogging and email.The internet has become a source of employment for millions of young people around the world as they are the people working in the fields of networking, programming etc This means that a new social group that was not there befor e is now in existent and in operation. These groups have their own way of interacting and co-existing in their working and also social emvironment.E-mail is a mode of communication on the internet that links together subscribers who have registered on the internet. It allows a subscriber to receive, read, compose and reply mail online. This mode of communication is very popular with the young people as it is a more modern method of letter writing.It beats normal postage in that the reciepent   gets the information immediately. It is cheaper that a telephone call and carrys more information than a text message. The young adults have taken advantage of its convenience to update each other on different issues, to apply for schools and jobs etc.The email makes the distance covered by normal mail shorter, is faster and more reliable. We also have webmail the difference being that with an email you have to work online but with a webmail you work offline and get connected when sending th e information.The email service is now available through the mobile phone and this has made it even cheaper and more convenient as one does not have to visit a cyber room to send or receive an email (Joan Tunstall, J. (1999).Chatting   refers to a mode of communication over the internet in which two or more people in different localities can hold a conversation or discussion online by typing information on the computer.This is a style very popular with the youth as it is same as if people were talking face to face the only difference being that you cannot hear or see each other.Chat rooms created on the web have become meeting places fro many young people and they have also been able to make new friends through this channel. This has given rise to   new kind of social group that   communicates through chat rooms (Daniel J. Myers (2000).Blogging is another type of internet communication that is popular with the young people. This form of online publishing enables the user to ad d new information onto an already existing topic.Blogging is very convenient in that a new user can use an already existing blog to add new contributions to a certain topic. Blogging is very popular with people who wish to market their products as they have a fast means of letting fellow bloggers what’s on the market.The internet provides such programs as Windows Media Player that enables the user to play digital music through the computer e.g CDs, DVDs   and also listen to FM stations. Young people are fun lovers and they are now able to watch movies, listen to music and   radio through the internet.This can be done form the comfort of you living room or even in the office when relaxing. This has affected the mode of interaction amongst the youth in that they now no longer have to visit movie houses to watch movies but can borrow from the library .Download software programs also enable the young people to play various types of games which would otherwise have been un aff ordable in the real situation.Young adults are also able to share ideas through Social Networking Sites (SNSs). Social Network Sites are internet based services that enable people to created their own personal profiles. Examples are Mysapce and Facebook.These profiles can be shared with other persons within a closed environment. Users will be able to interact within the same user group although these sites can also be viewed by non-users. Users are able to upload such items as photos, videos etc.This mode of communication is used to enhance interaction between relationships that were already existing offline. Users of this service are introduced by others already in the service and thus the reason why young people are attracted to SNSs; because their friends are already on these sites.This work to create closed user groups. Social Network Sites grow in popularity among people of a certain country, race, sex or even community. SNSs   like CyWorld and Orkut for example are very popu lar in countries such as Korea, India and Brazil. An SNS will therefore enable a certain community or group to post and share comments as well as enhance friendships.The users are able to express themselves while at the same time interacting with others within an SNS   community. This mode of communication makes interaction easier and faster by reducing distance between the users (Ramy H.N., Moppett S. A (2000).Teleconfrencing is yet another mode if internet communication that has changed the way young adults interact. This refers to holding of meetings through the internet between groups at different geographical locations. Unlike in chatting, the parties involved are able to see and hear each other.Social forums   involving young people as well as academic exchange programs are carried out through teleconferencing.   This means that ideas are exchanged and solutions to various found while avoiding traveling costs.

Explain “Transfer Pricing” as presented in Stealing Africa

Explain â€Å"Transfer Pricing† as presented in Stealing Africa. Transportation Pricing: When there is any kind of trade or merchandising or buying that occurs between two companies that are lawfully related someway so the monetary value of the goods or the merchandises that are traded between those two companies is what we call reassign pricing. Transfer pricing is fundamentally the money saved by the company by hedging revenue enhancement through selling the goods or purchasing the goods from its ain subordinate and so showing it as an disbursal in its balance sheets. GLENCORE owns the excavation Millss in Zambia and the coal that is obtained from the state is one of the biggest export points of the state and a batch of their fiscal public assistance depend upon this natural resource. What GLENCORE does is that it extracts coal from Zambia through MOPANI mines that it owns in the state and so buys the coal at a monetary value that they set for themselves. This manner they evade paying a higher revenue enhancement rate by demoing a lower income or net income that is generated by the company runing in Zambia. Legally it is of import for companies to bear down a monetary value for a merchandise that they decide to sell and purchase from its subordinate or to its subordinate at a monetary value that would hold been chosen if the company was covering or trading with a company that was non a portion of its entity that is what we normally call an arm’s length trader. Unless and until GLENCORE buys the coal that it extracts from Zambia at a monetary value that it would hold to pay in instance it was purchasing from an independent party. Since the company is non making this, the state and the people of Zambia are enduring through immense losingss in national income as companies like GLENCORE usage transportation pricing to hedge the revenue enhancements that they should really be paying. Taking advantage of the inefficient legal system present in Zambia, the company is carry oning concern in a non-ethical mode. Harmonizing to Stealing Africa and Amos Wilson, Whites are dominant globally because they are still populating on the accrued advantages gained from white privilege historically and in the present. Explain including illustrations. White privilege fundamentally means that a individual gets treated otherwise merely because of his race. When a white individual is given penchant over other people belonging to different races, he is fundamentally sing white privilege. Even though things have been a small better for people from different races late but its still non anything near perfect. Black people are discriminated badly all around the universe but particularly in the western states. The jurisprudence, the province and other establishments are ever biased towards the westerner and the fact that it has been a superior race in the past and is still ruling the universe scenario, it is hard to raise a voice against it and make something to wholly do it halt. In the docudrama, they talked about Marc Rich who had been involved in the biggest fiscal fraud and revenue enhancement fraud in the history of the United States of America but he was still pardoned because of his presence non merely socially every bit good as economically. He had the best of the best attorneies supporting him and constructing up a instance to turn out him guiltless even though there was adequate grounds to convict him and direct him to gaol. GLENCORE’s operations in Zambia are earnestly damaging the country’s environment and public wellness conditions and besides rip offing the country’s fiscal establishments by non paying the right sum of revenue enhancements utilizing transportation pricing to take down their cost and take advantage of Zambia’s uneffective legal system utilizing their expert attorneies and comptrollers that gathers informations and physiques instances and present studies that can non be countered by the Zambians. Africa is a affluent continent yet many Africans live in poorness. Explain. Africa is so a rich continent but the continent is non rich in footings of fiscal criterions and economic growing. The continent is highly affluent when it comes to holding natural resources that are an of import trade good out in the universe and that have attracted legion Multinationals in to the continent. Now even though many would state that the foreign direct investing inflow would assist the states in the continent flourish and recognize their true potency but that is non what is go oning. Majority of the African states are really a portion of the list that includes the poorest states and the little economic sizes. The major ground for this is that the legal system in these states is really inefficient as of now. There is high corruptness and really small focal point on the some of the really major issues such as wellness and instruction. The political system in these states is besides really weak which makes the provinces really vulnerable to foreign influence and puts them at a hazard of being exploited which is what is go oning. The multinationals that are runing in the states in Africa are taking advantage of the all the loopholes on the system and operating in an unethical manner which consequences in highly high net incomes for them but the states itself and the people populating there are severely affected. The negative effects on the people are non merely restricted to pollution and corruptness, there is small money available to better the substructure and no focal point on instruction as they lack even more major basic necessities like nutrient and wellness attention. The rate of unemployment is besides really high and the immense companies prefer paying below the globally recognized pay rates taking advantage of the fact that the people in these states are highly despairing for a occupation. Harmonizing to Amos Wilson ( Blueprint for Black power ) , the wealth of people is non in their things but in their heads. Explain. If the wealth you had depended upon the things that you had so Africa wouldn’t have been fighting with issues such as poorness and unemployment. Taking the illustration of Zambia as it was discussed rather briefly in the docudrama, the state is fighting with serious issues and even though it has copiousness of natural resources like coal, it still fails to better its conditions and is a direct to foreign development. The states that have leverage on other states are the 1s that can acquire what they want even if its illegal and so protect themselves from the effects. They do that by assailing at the loopholes in the system of these hapless or developing states and utilize their influence to acquire their manner. Even though Zambia has immense sums of coal with it but merely holding the resource with them is non making them any good and the state is enduring at the custodies of the multinationals that aren’t paying adequate revenue enhancement and destructing their environment and people’s wellness without any guilt. If these states had people that could be after a manner to utilize their strength in a manner that could assist them protect themselves against these multinationals and foreign influence so the province of the Zambia would hold been better than what it is now. The state lacks heads that could assist them counter the foreign menaces and influence and do people do concern on their footings since they are utilizing their resources, their land and their people. Merely because Zambia lacks a proper system and proper planning and heads that can happen a manner to leverage their place, they will maintain on enduring from legion issues even when it is highly affluent when it comes to natural resources like coal.