Rise of South Korea Economy

Introduction South Korea has one of the most fascinating economic histories in the world. A country that was once threatened with war and instability, overcame all the odds to become a shining star in the Asian region and around the world. How did South Korea rise to attain its current economic status?Advertising We will write a custom research paper sample on Rise of South Korea Economy specifically for you for only $16.05 $11/page Learn More This research explores South Korean economic rise, with emphasis on its economic progress after the Korean War. Of importance will be the country’s regime change and elements of its social and economic development and how they influenced each other. Additionally, the research will cover dramatic political move during 1970s and the social move of 80s. Background of South Korean Economy Like many other countries round the world, Korea entered a window of reconstruction at the end of the Second World War in mid 1940s. The emergence of opposing administration on the Korean peninsula was to test the progress of the region as the two sides struggled to replace the colonial government and promote economic development.1 The U.S. military took charge of the southern region while USSR controlled the northern part by establishing a Korean rule. This decolonization process did not go unnoticed. There was severe disruption of trade between Korea and Japan, which led to immense economic interference. As a result, the U.S. administration initiated strategies, aimed at salvaging the situation. These included the privatization of all assets, which were under the management of the Japanese government. In 1948, the first South Korean government was established, which initiated land reform efforts that resulted into democratic ownership of land.2 Unfortunately, the 1950s was to be remembered negatively as the Korean War broke, lasting for three years and resulting into the death of more than one and half million people. Besides the massacre, the Korean War equally destroyed the economic foundation, which had been laid at the end of the Second World War. After the end of the Korean War in 1953, South Korean leaders were tasked with formulating strategies, which were to promote economic growth in the region. Some of the policies augmented the expansion of native industrial firms. This idea was an emulation of most countries around the world whose economies were thriving after WWII. In order to achieve this, the South Korean government identified a number of firms in the country and bestowed certain powers upon them, which permitted them to acquire foreign currencies and borrow money from banks at affordable rates. Additionally, the administration initiated tariff barriers together with a ban on manufacturing imports, in order to promote the advancement of domestic firms and allow them to import new technology.Advertising Looking for research paper on business economics? Let's se e if we can help you! Get your first paper with 15% OFF Learn More Following the import-substitution industrialization (ISI) policy, most entrepreneurs sought to maximize on favors and bribing of politicians and other influential people in order to advance their interests. Nevertheless, this behavior commonly referred to as directly unproductive profit-seeking activities (DUP), negatively affected the economic growth in South Korea, leading to the First Republic in April 1960. Reconstruction As mentioned above, the Korean War had significant economic impact. For instance the war damaged private dwellings, plant and equipment, infrastructure and public facilities. The total damage resulting from the war was approximated to be $3.0 billion, an equivalent of the combination of the country’s GNP for 1952 and 1953. However, the country experienced an exponential economic growth between 1953 and 1957, registering an annual growth rate of 5%, with an exception of 1956, whic h recorded a lower percentage. In the same year, the agricultural sector experienced the least growth of about 6% per year, compared to mining and manufacturing which had almost 15% growth rate. By contrast, South Korea realized a declining GNP economic growth between 1958 and 1960, averaging at less than four percent annually. During this time, the country’s population increased at 2.9% annually.3 As a result, per capita income almost remained unchanged as the growth of mining and manufacturing dropped from 15% to about 9%. This economic stagnation was attributed to a financial stabilization program, which had been implemented in 1958 and 1959. It is also important to mention that a large portion of South Korea’s imports were funded by foreign grants from 1953 to 1960. The two main sources for the grants were the United Nations Korea Reconstruction Agency, UNKRA together with the United States bilateral assistance program. Between 1953 and 1960, UNKRA’s aid tot aled to $120 million while the U.S. aid was approximately $1,745 million. Notably, the American aid included a $158 million of PL 480 goods. The main role of the two aids was to import food and industrial raw materials together with capital goods. During this time, up to 70% of the country’s imports were funded by foreign aid agencies. The most important contributor was the United States, which financed almost 80% of South Korea’s imports between 1956 and 1958. Due to the effect of the foreign assistance, the country experienced rapid economic growth from 1953 to 1957 before the effects of inflation haunted South Korean economy, at a rate of almost forty percent per year. Indeed, the impact of inflation was being felt, prompting the need for a solution to reverse or stabilize the situation. As a result, the South Korean government signed an agreement with the Office of the Economic Coordinator on a special financial program, which was implemented from 1957.Advertising We will write a custom research paper sample on Rise of South Korea Economy specifically for you for only $16.05 $11/page Learn More Consequently, the inflation rate dropped while market prices stabilized. However, this was not to last due to the student revolution, experienced in the country in April 1960. The revolt led to the rise of another government, which abandoned the financial program immediately after taking office, leading to a sharp rise in prices of commodities by eleven percent. It is also important to note that the period of rapid economic growth was characterized by a reduction in commodity exports. By the year 1957, they had dropped to less than a half of what was exported in 1953. They however began to increase during the recovery period. Generally, the impact of exports was almost negligible, totaling to 1.1 to 2.4 of the GNP. Mining, fishing and agricultural products continued to dominate the export market.4 Military Government Follo wing a student revolution that was witnessed in April 1960, the government of Chang Myon was overthrown in 1960. As a result, South Korean economy was controlled by the military from May 1961 up to the end of 1963. Due to the unstable social and political environment, the country’s economy stagnated. Similarly, the military was interested in the growth of the country’s economy, making it to adopt expansionary set of monetary and fiscal policies. Unfortunately, the policies turned out to be unrealistic, resulting into inflation, hitting a high of fifteen percent annually between 1960 and 1963. Furthermore, the policies stimulated growth, with the country’s GNP rising by 8.8% in the year 1963. This stimulation was attributed to several economic reforms, which were enacted by the military government between 1961 and 1962. Some of these reforms included tax and budget reforms, foreign exchange control system reforms and currency reforms. Besides these major reforms, South Korea’s economy was also subjected to a new budget, with the enactment of accounting laws. Additionally, there was need to revise tax laws mainly to increase domestic tax revenue and promote business internal saving.5 A major concern of the military government was its ability to earn foreign exchange and increase the country’s domestic savings, following a reduction of the United States funding aid in the year 1960. Following the U.S. reluctance to fund the economy, South Korea continued to register a decrease in foreign exchange between 1961 and 1963. As a result, the government introduced import control measures coupled with import incentives like tax exemptions. By the fact that domestic savings averaged only at 4.3 percent, most of the investment bulk was funded.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Even though the country had witnessed a rapid commodity since 1959, it began at a low pace, without significance until 1963, when the economy registered $87 million, an equivalent of 3.3 percent of the GNP. In the same year, the value of exports significantly increased, hitting a total of more than 50%. The military government announced the First Five-Year Plan in 1961, which reflected the main economic policies of the government. Additionally, the government set 7.1 as the annual growth rate target, with the following economic priorities:6 The first item, which required the highest attention, was increment in the supply of energy, which included electric power and coal. Secondly, the government listed agricultural production and farmers’ income. This was essential based on the role that was being played by the agricultural sector. Thirdly, there was need for the government to expand major industries and social overhead capital. Additionally, national land conservation and de velopment was to be implemented through utilization of idle resources, which was mainly manpower. Moreover, the improvement in the balance of payments was to be realized through the expansion of the exports sector. The last item on the priority list of the military government was the advancement in technology. This was important in promoting several economic sectors and their expansion.7 Civilian government, 1964-1966 After three years of military rule, there was a general election in 1964, which paved way for a civilian government. This development saw South Korea’s GNP rise rapidly from 1964 to 1966, with an average of 9 percent growth rate. However, there was an increase in the rate of inflation in 1964, hitting the highest mark of 35%. This did not last forever, as the rate dropped to 10 and 9% in 1966. It is worth noting that the rapid economic growth witnessed during the period was as a result of major economic reforms, which were implemented in 1964 and 1965. Additiona lly, the stabilization program that was initiated by the military government remained crucial in stabilizing the economy of South Korea.8 The most outstanding feature of the program was its strictness on controlling the supply of money, thus limiting the flow of money in four major sources, including bank reserves, central bank finances of the government, foreign sector deposits and fertilizer loans. The government also eliminated all existing financial deposits, starting in 1964 and allowed short-term borrowing alone. The civilian government also made interest rate reforms, which increased the amount that was being charged on deposits and borrowed loans. This resulted into an exponential increase in bank time and saving deposits, hence expanding the supply of funds that were allowed for loaning. Foreign loans became more attractive since the interest rate reforms caused a major differential margin. Additionally, there was improvement in tax collection at the start of 1965.9 This wa s made possible through improved tax administration and implementation of changes in rates. Due to these reform strategies, the government registered increased tax revenues from 7.3% in 1964 to 10.8% of the GNP in 1966. By this time, up to 75% of the government expenditure was being financed by domestic revenues, while a small portion of the fund emanated from the United States’ financial aid. During this time, there was also an increase in domestic savings by 1966. Following the tax drive and the interest rates reform of 1965, there was a remarkable rise in both government and private savings. The growth of South Korea’s economy continued to expand rapidly from 1967 to 1971, characterized by stable market prices. The Second Five-Year plan further played a major role in attaining this economic growth together with the Overall Resources Budget for the implementation of the plan. The plan had an annual growth rate of 7% between 1967 and 1971.10 Basically, it was aimed at enhancing modernization of the industrial sector and the establishment of a self-supporting economy. The success of the plan was evidenced by surplus profits and remarkable performance witnessed during its implementation period. The government also revised the plan annually, based on yearly performance and future prospects. As a result, the GNP surpassed the target figure as export goods and services hit the target mark by 1968, leading to an extensive government export drive. Nevertheless, it is important to note that the trade did not show significant improvement despite the fact that there was a rapid increase in commodity exports. This was mainly attributed to an increase in imports. This increase in imports reflected the impact of a number of issues, including but not limited to increased demand for raw materials, trade liberalization and increased inflows of foreign loans.11 The country also recorded rapid accumulation of foreign exchange holdings, which augmented money suppl y. Economy in 1970s The period between 1970 and 1980 was a defining economic period in the history of South Korea. The country witnessed several political struggles, a major one being the assassination of President Park in the year 1979. It was believed that the president was assassinated by the South Korean Central Intelligence Agency boss. Despite the fact that there were strained political relationships in the country, its economy remained stable. At the onset of the decade, there was need for money to finance huge development projects. This was made possible by the establishment of unique financial institutions together with directing all commercial banks to give loan preference to specific projects. It is important to note that by late 1970s, the policy loan had risen to up to 60 percent.12 There was slow growth in industrial production and construction between 1971 and 1972. As a result, South Korea’s GNP dropped to seven percent from 9.2% in 1971. Additionally, there w as an absolute drop in the Gross domestic investment by an alarming 12%.13 Among other factors, this was caused by external forces, which were affecting the country’s export markets like the United States and Japan. Additionally, the export sector was significantly hit by a surcharge that was introduced by the United States on most of its exports. Moreover, there was financial pressure on most South Korean firms, which led to the slowdown. For instance, most domestic manufacturers had borrowed heavily from foreign lenders to import capital goods, which were necessary for industrial expansion. Due to this economic stagnation, the government responded by an Emergency Presidential Decree for Economic Stabilization and Growth on the second day of August in 1972.14 The decree was composed of several economic reforms aimed at resuming the rapid economic growth that had been experienced before. From 1972 to 1976, the Third Five-Year Economic Development Plan was instrumental in esta blishing and export-led economy by supporting high production in chemical and heavy industries. In other words, there were some industries, which received special financial privileges. These included household electronics, iron and steel and transport machinery, among others. Developers of some industries like heavy and chemical industries were tasked with ensuring that young industries are fed with raw materials and capital goods. This approach was also aimed at minimizing the tradition of most industries being financed through foreign aid. These industries were to be built towards the southern side of the country, far away from North Korea. The selection of the southern area was strategically chosen to allow industrial development in other areas apart from Seoul.15 Additionally, the idea was to create job opportunities in less developed regions of the country to promote national growth. The five-year plan began in 1977 and ended in 1981. The plan was highly applauded for promoting the establishment of industries that were capable of competing favorably with other industries in the export market around the world. Importantly, this category of industries mainly included labor-intensive and technology-intensive firms, say, shipbuilding, machinery and electronics.16 As mentioned before, the plan had significant emphasis on chemical and heavy industries, including but not limited to petrochemicals and steel. From this plan, several results were realized, which were vital in promoting economic growth. For instance, there was a significant growth of 51.8% in heavy and chemical industries by the year 1981. On the other hand, their direct exports rose to 45.3%. In explaining these results, analysts believe that that there was excellent performance in certain industries like shipbuilding, steel and iron. Consequently, it was possible to produce high-quality products at relatively low costs. This was a boost to South Korea since most of the heavy and chemical industrie s around the world suffered greatly in 1970s.17 There was also remarkable growth in machinery industries as it experienced double investments in certain sections like construction equipment, electric power generation and diesel engines among others. Above all, the growth was enhanced by the government’s support. Following the global recession that was experienced in the late 70s, South Korea was not an exception. This recession emanated from high levels of inflation around the world with rising fuel prices. As a result, the country’s industrial structure lost balance, breeding severe inflation since the country had widely invested in heavy industries, yet the products lost the market.18 As a way of salvaging the country’s economy from the effects of inflation, the government implemented the Fifth Five-Year Economic and Social Development Plan from 1982-1986. The main driving force behind this idea was the need for the country to divert its investment efforts fro m heavy and chemical industries to technology-oriented industries.19 The shift was to focus at electronics and information equipment. Due to ready market and high demand for these products, there were reasons, which necessitated improving the quality of the products produced. By the time the fifth-year plan ended, the government decided to advance the program by launching The Sixth Five-Year Economic and Social Development Plan that was to run from 1987 to 1991.20 It therefore embraced the previous plan’s ideas and vision. In order to realize success, the government promoted import liberalization and eliminated business barriers, which were mainly imposed on imports. It is worth noting that most of these decisions were triggered by the need of protecting the country’s economy from severe effects of the market. Some of the dreaded effects included monetary expansion and pending industrial modification, emanating from the presence of excess funds. Moreover, Seoul played a major role in facing out any form of direct assistance to specified firms. It was to emphasize the training of human resource and resource development. To achieve this target, Seoul increased the ratio of research and development to more than 3% of the GNP by the end of the Sixth Five-Year Economic and Social Development Plan in 1991.21 Between 1992 and 1996, the government launched the Seventh Five-Year Economic and Social Development Plan whose main objective was to advance technology in the country.22 This was to be realized by establishing advanced technology fields, including bioengineering, microelectronics, and optics among others. Through joint collaboration, the government and the industry developed high-technology facilities, which were evenly distributed around the country, covering up to seven provinces. Current economic status In 1997, South Korea was hit by the worst financial crisis to have been experienced throughout its history. As a result, Seoul sought the inter vention of the IMF for a bailout of $58 billion in order to manage the situation. It is in the same year that Kim Dae Jung was elected as the president, making history to have worn the presidency from opposition.23 The country further experienced a collapse of financial institutions, resulting from the overuse of credit cards by consumers. This significantly affected economic growth of the country, falling to a low of 3.1%. The population of credit card holders increased in 2004, with majority of people being unable to pay back their debts. South Korea is among other nations with a market economy. Its economy is ranked position fifteen based on GDP ranking and is categorized among the G-20 major global economies. It is a member of OECD and prides to be among the famous Asian Tigers. The country registered the fastest economic growth in 60s and is still among developed countries with fastest growing economies.24 Due to the absence of minerals in the country, South Korea adopted an ex port-led economy, concentrating on the manufacturing industry. Following this, it was ranked as the 7th largest exporter in the world in 2010. It is faced with the problem of overpopulation. Additionally, North Korea’s military advancements have continuously affected the country’s stock market. It is however considered to be among the economies of the future together with BRIC. Importantly, it survived the global financial crisis of 2007-2008.25 Conclusion From the above analysis, it is evident that the history of South Korea’s economy is quite fascinating. Since 1953 after the Korean War, the country has maintained a progressive economic trend with minimal crises. Nevertheless, political leaders played a major role in shaping the country’s economy through implementation of several Economic and Social Development Plans. It is remains to be one of the promising global economies. Bibliography Chung, Young-Iob. South Korea in the Fast Lane: Economic Developm ent and Capital Formation. UK: Oxford University Press, 2007. Hart-Landsberg, Martin. â€Å"The South Korean Economy and U.S. Policy.† Asian Perspective. 28, no. 4 (2004): 89-117. Heo, Uk, and Terence Roehrig. South Korea Since 1980. Cambridge: Cambridge University Press, 2010. Kil, SÃ… ­ng-hÃ… ­m, and Chung-In Moon. Understanding Korean Politics. Albany: SUNY Press, 2001. Lie, John. Han Unbound: The Political Economy of South Korea. UK: Stanford University Press, 2000. Manyin, Mark. â€Å"South Korea-U.S. Economic Relations: Cooperation, Friction, and Future Prospects.† CRS Report for Congress. 2004. www.fas.org/man/crs/RL30566.pdf. Mo, Jongryn, and David Brady. The Rule of Law in South Korea. California: Hoover Press, 2009. Noland, Marcus. â€Å"South Korea’s Experience with International Capital Flows.† National Bureau of Economic Research. 2007. www.nber.org/chapters/c0155.pdf. Publishing OECD Publishing. OECD Economic Surveys: Korea 2010. NYC: OECD P ublishing, 2010. Thompson, Grahame. Economic Dynamism in the Asia-Pacific: The Growth of Integration and Competitiveness. London: Routledge, 1998. Wang, James. Comparative Asian politics: power, policy, and change. New Jersey: Prentice Hall, 1994. Footnotes 1 SÃ… ­ng-hÃ… ­m Kil and Chung-In Moon. Understanding Korean Politics (Albany: SUNY Press, 2001), 13. 2 Ibid. 3 Ibid., 14. 4 Ibid., 15. 5 Ibid. 6 Ibid., 16. 7 James Wang, Comparative Asian politics: power, policy, and change (New Jersey: Prentice Hall, 1994), 236. 8 Ibid. 9 Jongryn Mo and David Brady, The Rule of Law in South Korea (California: Hoover Press, 2009), 148. 10 Ibid. 11 Ibid., 149. 12 Young-Iob Chung, South Korea in the Fast Lane: Economic Development and Capital Formation (UK: Oxford University Press, 2007), 14. 13 Ibid. 14 Ibid. 15 Ibid., 15. 16 John Lie, Han Unbound: The Political Economy of South Korea (UK: Stanford University Press, 2000), 77. 17 Ibid. 18 Uk Heo and Terence Roehrig, South Korea Since 1980 (Cambri dge: Cambridge University Press, 2010), 83. 19 Ibid. 20 Grahame Thompson, Economic Dynamism in the Asia-Pacific: The Growth of Integration and Competitiveness (London: Routledge, 1998), 41. 21 Ibid. 22 Martin, Hart-Landsberg, â€Å"The South Korean Economy and U.S. Policy. Asian Perspective, 28. no. 4 (2004): 89. 23 Marcus Noland, â€Å"South Korea’s Experience with International Capital Flows,† National Bureau of Economic Research, 2007, www.nber.org/chapters/c0155.pdf. 24 Publishing OECD Publishing, OECD Economic Surveys: Korea 2010 (NYC: OECD Publishing, 2010), 57. 25 Mark Manyin, â€Å"South Korea-U.S. Economic Relations: Cooperation, Friction, and Future Prospects,† CRS Report for Congress, 2004, www.fas.org/man/crs/RL30566.pdf. This research paper on Rise of South Korea Economy was written and submitted by user Brayden Meadows to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Redesigned SAT Writing and Language Test

Redesigned SAT Writing and Language Test In March of 2016, the College Board will administer the first Redesigned SAT test to students across the country. This new Redesigned SAT test looks incredibly different from the current exam! One of the major changes is the retiring of the Writing test. It will be replaced by the Evidence-Based Reading and Writing section, of which, the Writing and Language test is a major part. This page explains what you can expect to find from that portion when you sit for the exam in 2016.   Check out the Current SAT vs. Redesigned SAT chart for an easy explanation of each tests format.  Want to know even more about the redesign? Check out  Redesigned SAT 101  for  all  the facts.   Aim of the SAT Writing and Language Test According to the College Board, The basic aim of the redesigned SAT’s Writing and Language Test is to determine whether students can demonstrate college and career readiness proficiency in revising and editing a range of texts in a variety of content areas, both academic and career related, for development, organization, and effective language use and for conformity to the conventions of standard written English grammar, usage, and punctuation. Format of the SAT Writing and Language Test 4 complete passages 4 sections44 multiple-choice questions 11 questions per passage35 minutes 8 minutes 45 seconds per passage if youd like to plan your time. You will not be given only 8 minutes 45 seconds per passage – you may distribute the 35 minutes any way youd like.    Passage Information What exactly will you be reading on this Writing and Language test? Well, first, each of the four sections passages will be between 400 - 450 words for a total of 1700, so each is a manageable portion of text. One of the passages will be from a career perspective. Another text will relate to History or Social Studies. The third passage will relate to Humanities and the fourth will relate to Science. Youll also see one or more graphics in one or more of the test sections. In addition, the purposes of each passage will vary somewhat. One or two of the passages will make an argument; one or two will inform or explain; and one will be a nonfiction narrative. So, if youre a visual learner, here is an imagined example of what your Writing and Language test could look like: Section 1: A 425-word argument passage about the need for diversity in the workplace. 1 chart showing the percentages of ethnicities in healthcare. 11 questions Section 2: A 410-word passage explaining Julius Caesars reign. 11 questions Section 3: A 430-word passage arguing for an increase in nutrient-rich foods in cafeterias of Floridian schools. 1 table describing the daily nutrition of available lunches. 11 questions Section 4: A 435-word passage telling a story about a specific doctors use of robotics in her surgical procedures. 11 questions Writing and Language Skills Tested Youll have 44 questions; might as well figure out the skills those questions are designed to measure! On this exam, you should be able to do the following: Development: Add, revise, or retain central ideas, main claims, counterclaims, topic sentences, and the like to structure text and convey arguments, information, and ideas.Add, revise, or retain information and ideas (e.g., details, facts, statistics) intended to support claims or points in text clearly and effectively.Add, revise, retain, or delete information and ideas in text for the sake of relevance to topic and purpose.Relate information presented quantitatively in such forms as graphs, charts, and tables to information presented in text. Organization: Revise text as needed to ensure that information and ideas are presented in the most logical order.Revise text as needed to improve the beginning or ending of a text or paragraph to ensure that transition words, phrases, or sentences are used effectively to connect information and ideas. Effective Language Use: Revise text as needed to improve the exactness or content appropriateness of word choice.Revise text as needed to improve the economy of word choice (i.e., to eliminate wordiness and redundancy).Revise text as necessary to ensure consistency of style and tone within a text or to improve the match of style and tone to purpose. Use various sentence structures to accomplish needed rhetorical purposes. Sentence Structure: Recognize and correct grammatically incomplete sentences (e.g., rhetorically inappropriate fragments and run-ons).Recognize and correct problems in coordination and subordination in sentences.Recognize and correct problems in parallel structure in sentences.Recognize and correct problems in modifier placement (e.g., misplaced or dangling modifiers).Recognize and correct inappropriate shifts in verb tense, voice, and mood within and between sentences.Recognize and correct inappropriate shifts in pronoun person and number within and between sentences. Conventions of Usage: Recognize and correct pronouns with unclear or ambiguous antecedents.Recognize and correct cases in which possessive determiners (its, your, their), contractions (it’s, you’re, they’re), and adverbs (there) are confused with each other.Recognize and correct lack of agreement between pronoun and antecedent.Recognize and correct lack of agreement between subject and verb.Recognize and correct lack of agreement between nouns.Recognize and correct instances in which a word or phrase is confused with another (e.g., accept/except, allusion/illusion).Recognize and correct cases in which unlike terms are compared.Recognize and correct cases in which a given expression is inconsistent with standard written English. Conventions of Punctuation: Recognize and correct inappropriate uses of ending punctuation in cases in which the context makes the intent clear.Correctly use and recognize and correct inappropriate uses of colons, semicolons, and dashes to indicate sharp breaks in thought within sentences.Recognize and correct inappropriate uses of possessive nouns and pronouns as well as differentiate between possessive and plural forms.Correctly use and recognize and correct inappropriate uses of punctuation (commas and sometimes semicolons) to separate items in a series.Correctly use punctuation (commas, parentheses, dashes) to set off nonrestrictive and parenthetical sentence elements as well as recognize and correct cases in which restrictive or essential sentence elements are inappropriately set off with punctuation.Recognize and correct cases in which unnecessary punctuation appears in a sentence. Preparing for the Redesigned SAT Writing and Language Test The College Board and the Khan Academy are offering free test prep for students interested in getting ready for the exam. You read that correctly: Free. Check it out!

Critical Thinking Discussion Question Essay Example | Topics and Well Written Essays - 500 words

Critical Thinking Discussion Question - Essay Example Framing a problem before offering up solutions can influence the outcome. Prior to an early morning board meeting a look out the window shows heavy snow falling. A check online at The Weather Channel shows a forecast of heavy snow for the next forty-eight hours. With this information you head down the hall to the boardroom where others are gathering. There is murmuring about the weather and the desire of many to go home. The chairman of the board enters and begins to discuss the need to draft a coordinated plan to hire contractors to build a bridge that the team designed. It is Wednesday and he wants the finished product on his desk by Friday. The others in the room are periodically glancing toward the window where they can see the snow falling. The room is quiet. The Chairman looks out the window and then back at the room full of employees. He chuckles and says: Oh yeah, grab your laptops and go home. Set up a conference call to compile your work and have it in my email box by Friday. A sigh of relief fills the room. The Chairman leaves the room followed by the team heading towards the doors with coats and laptops in hand. Problem solved! Forces of influence can change how one frames an argument and that influences the outcome.

Strategic Management for FMCG Market During Recession Dissertation

Strategic Management for FMCG Market During Recession - Dissertation Example During recessions depending on its severity, the only surviving product that is still moving is the FMCG's otherwise known as FMCG. These are the essential products that are used by the consumers in their everyday lives. An example of FMCGs is coffee, milk, and sugars. Infant foods or pharmaceutical products used in the maintenance of ailments such as anti-hyper tension and anti rejections are also considered FMCGs. Laundry and dish washing soaps, including body soaps and shampoos, are also considered as FMCGs. Every FMCG manufacturer’s or distributor’s goal is to capture a big chunk of the market as much as possible during a recession since the trust that will be gained from the brand will be carried over until the recession is over. The foot in the door approach as a strategy for FMCG is an effective way of capturing a large chunk of the market. The most efficacious way of staying on the radar of consumers is the FMCGs price. During a recession, the resource that is the most affected is the liquidity of the company and most especially the consumers. Thus maximizing the use of money is the most potent approach for consumers to survive the recession. Armed with this knowledge further investigation was conducted for the purpose of determining the efficacy of the strategy of value-pack packaging as the direction of capturing the FMCG market. However, the investigation leads to the realization that value pack packaging is also environmentally harmful since it costs a lot of packaging raw material to packaging FMCG in smaller packs or volumes. ... Thus maximizing the use of money is the most potent approach for consumers to survive the recession. This paper investigated the theory by conducting a survey to verify the behaviour of consumers during recessions. Further investigation through the use of surveys determined that due to the affordability of products that are packaged in smaller volumes consumer behaviour therefore gravitate towards this direction. Armed with this knowledge further investigation was conducted for the purpose of determining the efficacy of the strategy of value-pack packaging as the direction of capturing the FMCG market. However, the investigation lead to the realization that value pack packaging is also environmentally harmful since it costs a lot of packaging raw material to package FMCG in smaller packs or volumes. Not only that but the intended reduction in price may not be realized since the cost will be eaten by the packaging materials and the increased cost of warehousing the added volume of sma ller packs packaging. Acknowledgement I would like to acknowledge the many people who have supported me and provided me with moral and actual assistance during the time when I needed it most. The many stress filled sleepless nights has been made bearable with the help of the following people. My family who has given me the strength and moral support to continue to be resilient and strong while making this paper, my MBA Course Moderator, Ms. Helen Goworek for the guidance and support, Dr. Paul Yap (Executive Director, FMCG Company) for writing approach and Guidance. The many unknown faces of grocers, store owners and FMCG industry packaging supervisors who was patient in answering incessant questions about the FMCG industry. Table of Contents Abstract 2 Executive Summary 3

BusinessModelCanvas Assignment Example | Topics and Well Written Essays - 1000 words

BusinessModelCanvas - Assignment Example sence, all one has to do is to join our website and gain access to a multitude of services and products offered by thousands of businesses (Papadopoulou 16). We have bundles consisting of (but not limited to): airline tickets, hotel and restaurant vouchers, and a wide range of merchandise (ranging from mobile phones to clothes). We also have utility services like cleaning, and just about any service in almost all service industries (Osterwalder, Pigneur & Clark 56). The reality is that our customers do not have routines. The reason for this is that we are an online service, therefore it is impossible to work out customer routines. What we do is make sure that the channels are available 24/7, all-year round. You never know when customer X or Y might decide to log in and search for a particular service or product (Osterwalder, Pigneur & Clark 56). Our business is service-based and involves a lot of interaction and communication with customers, therefore the customer service relationship is employed as a tool for making communication and interaction possible. The marketing relationship helps the company track deals, responses, clicks and leads, which are the core aspects of our business. The business model I would associate with Groupon (to an extent) is the free as a business model pattern. Although its services are not free per se, the only point a registered customer is charged is if he/she decides to purchase a product or service by buying a deal. Essentially, all other services on the website are free until a customer decides to purchase a product or service. Also, there are no subscription fees, and one can be a registered member and still retain membership even if he/she is not buying anything. For instance, it is free to browse the site, check on available deals without paying anything. I am therefore convinced that the free as a business model is the closest model Groupon identifies

The Joys Of Motherhood, Buchi Emecheta

The Joys Of Motherhood, Buchi Emecheta During the colonization process, many changes have occurred in Africa and the indigenous populations were forced to adopt and adhere to the western values and lifestyle. The effects were felt on all levels of society and in her novel The Joys of Motherhood; Buchi Emecheta highlights the consequences of this confrontation on a traditional Igbo woman, Nnu Ego. It is show at the very beginning of the novel that fertility is a determinant factor of a womans status and reputation. This standard established by this patriarchal society is anchored in Nnu Ego and she does not know how to be self-fulfilled other than the cult domesticity. However, with the changes that occurred in her society, the joys and rewards of motherhood that she desired for a longtime have been compromised. This extended essay thus investigates the impact of the clash of cultures on Nnu Ego. To do so, I first examined the situation of women during the pre-colonial Nigeria in order to underline the differences during the colonial time. Then, I analyzed the two main conflicts of the novel which are the protagonists struggle for self-fulfillment and her dilemma between assimilating the colonial lifestyle and clinging to her traditional values. After this investigation, I came to the conclusion that the tragedy in the story of Nnu Ego is that her imprisonment in tradition prevented her to recognize and embrace the changes that occurred before her. Emechetas novel is thus both a critique of colonization and the conservative nature of the Igbo tradition that prevents women to emancipate and build a better future. Introduction European colonization in Africa has had both favorable and unfavorable consequences as far as it has destabilized and controlled the indigenous ruling systems while bringing modernization to the continent. This notion of modernity is however just as problematic because it represents an antagonism to the traditional African values which resulted in an inevitable clash opposing tradition to modernity. The confusions and struggles raised from this conflict are dealt in different ways and as regards African women; they are confronted, until now, to obstacles in the cultural, economical as well as the political side. Indeed, in most of African cultures, women are victims of subordination within their society because the opposite gender overpowers and retrains them in their development by dictating their thoughts, behavior and decisions. Buchi Emecheta is one of the first African women novelists to address the issue of the conditions of women and their battle for self-fulfillment and emancipation. In her novel, The Joys of Motherhood, she explores the positive and negative effects of modernization on women as well as their imprisonment between tradition and change. Through the story of Nnu Ego, the protagonist, she also shows how the strict traditions discriminate women who are regarded as mens property, producers of children and are placed in second position on the social pyramid. In order to understand the impact of Nigerias confrontation with western world on women, the following essay will first take a look at the situation of women during the pre-colonial and colonial Nigeria. Then, it will examine the struggles of Nnu Ego for self-fulfillment and emancipation and finally, her dilemma between assimilating the colonial lifestyle and clinging to her tradition. The clash of cultures in The joys of Motherhood and its impact on Nnu Ego The downfall of African women from a position of power happened during the process of colonization. Prior that, societal roles were equal and there was a complementarity between the roles played by each gender. For instance, they even switched roles and women were allowed to work in the agricultural field. In addition to that, women did not only work in pairs with their male counterparts but they were also respected and sometimes worshiped. Most men like Agbadi, a renowned chief and the father of the protagonist, preferred a woman who: was troublesome and impetuous, who had the audacity to fight with her man before letting him have her (p.21). Ona, the mother of Ngu Ego represented that type of women and was depicted as a strong, stubborn and highly respected character. She functioned as queen sister, a chief and was an inspiration to the young women in her village because showed the men that she was just as powerful as them. However, during the colonial era, the traditional rules concerning women were rigidified, which led to the devaluation of female roles and status. Indeed, by introducing capitalism as a new economic system and Christianity as a new spiritual doctrine, the English colonizers have indirectly modified the roles and status of the genders in Nigeria. In modern and capitalist societies, money is a determinant factor of ones status and women have gradually been excluded from trading or any paid work. This resulted in uplifting the status of men and diminishing the status of women whose only roles now were to maintain the household and carry children. As shown in the book, these changes have also affected the vision men had of women because: in [Agbadis] young days, a woman who gave in to a man without first fighting for her honor was never respected. To regard a woman who is quiet and timid as desirable was something that came after his time, with Christianity and other changes (p.10). Thus , considering the fact that men married women: who could claim to be helpless without them (p.36), women were forced to comply with the new standards. Strong minded women like Ona gradually disappeared and women who used to be equally treated in her time were now considered as more vulnerable and weaker than men. By introducing her novel with a short description of Onas life, Buchi Emechetas purpose was to show that the subordination of women is a result of a change in beliefs which gradually anchored in the Igbo tradition. It moreover helps the reader to understand the contrast between Ona and Nnu Ego and gives an insight on Nnu Egos struggles. Buchi Emecheta evokes in her novel two elements which represent an obstacle to Nnu Egos self-fulfillment which are the relationship between men and women and children. The protagonist lives in a mans world in which women must prove that there are good daughters and then good wives in order to gain respect. As an example, when her father arranged a second marriage for her, Nnu Ego did not approve of her new husband, Nnaife, because he was physically different to the men in her village, Ibuza. However, she wanted to prove to herself, to Agbadi and to her society that she wasnt barren but a complete woman. She would [have] rather [died] in this town called Lagos than go back home and say Father, I just do not like the man you have chosen for me' (p.44). She gradually learned to respect this man and put up with his crude ways and ugly appearance (p.44) because he fulfilled her dream which was to have a child. Yet, with the other pregnancies, their relationship degraded because Nnu Ego lo st all respect for her husband. She was not given enough housekeeping money because her husband, Nnaife, spent most of the money on his drink and the children were starving. She then realized that: she was a prisoner, imprisoned by her love for her children, imprisoned in her role as the senior wife. She was not even expected to demand more money for her family; that was considered below the standard expected of a woman in her position. It was not fair, she felt the way men cleverly used a womans sense of responsibility to actually enslave her (p.137). It is shown trough this excerpt that in a couple, the woman must be worthy and accept her fate without complaining. If she fails in doing so, not only will she be branded as a bad and not respectful wife but she would also bring the shame over her family. As Nnu Ego said it, she is imprisoned in a code of conduct established by her patriarchal society which preaches submission. As a result, the man takes all the decisions and as regards the protagonists husband, he is depicted as a selfish man who spends his money without taking into consideration the needs of his family. She was consequently powerless and when Nnaife returned from war with a big fortune he gained the fear and respect of Nnu Ego. He could even afford to beat her up if she went beyond the limits he could stand (p117). This demonstrates on one hand that money and violence are the primary sources of power for men. On the other hand it testifies that the submissive image of women to which Nnu Ego must comply represents a n obstacle for her emancipation and self-fulfillment. This code of conduct imposed on women is also responsible for the fact that a womans voice was rarely taken into consideration as regards the important decisions. For an example, when her husband was at war, Nnu Ego gave birth to a child to whom she did not attribute a name before the return of her husband. She was scared of being regarded as overcivilised woman who chose the names her children by herself, just because her husband was fighting in the war(p.155). Stated differently, endemic sexism, patriarchal attitudes, and the force of blinding tradition bond African men in a hegemonic system that nourishes and protects their interest . This can also be seen through the two polygamous marriages undergone by Nnu Ego. In the first one, she was unable to produce a child and lost her position as a senior wife. Yet, the major function of a wife in her culture is to bear children. Women just like men, grant much importance to the fert ility of a woman because it is the only way to gain respect from the community. The marriage is only truly strengthened with the birth of a child, particularly a boy who will be the heir and the support of the family. The Igbo woman is thus subjected to a lot of pressure during the first years of the marriage because her reputation is concerned. Childless marriages are rarely recognized because: when a woman is virtuous, it is easy for her to conceive (p.31). Nnu Ego is a very emotional character and her barrenness only accentuated her unstable state of mind which manifested through endless tears of frustration and hopelessness (p.32). This situation drove her husband to become polygamous which also undermined her self-confidence. Few had noticed that it was bad for her morale to hear her husband give pleasure to another woman in the same courtyard where she slept (p. 21). In the end, the fact that she remained childless for two years led to the disintegration of her marriage. In the second marriage, she succeeded in having eight children but it did not prevent her husband from looking for a second woman. Nnu Ego and her co-wife were complete opposite and she hated this type of woman, who would flatter a man, depend on him, need him (p.118). Nnu Ego was compared to a jealous cat because she could not understand why her husband bought a new wife especially when they were living in such terrible conditions. She tried to control her feelings, to be sophisticated just like she had been taught but the unfairness of the situation revolted her. She withdrew in herself but was forced to behave properly. She [had] to be careful if she did not want her sons future wives to say but your mother was always jealous whenever her husband brought a young wife' (p.185). Polygamy is in the book another mean for men to control women. Nnu Ego had the feeling she was given more power as a senior wife but in fact, she was imprisoned in her role and her love for her children forb ad her from reacting indecently. Moreover, as a senior wife, Nnu Ego was force to follow some standards which restrain her in self-expression. Indeed, when her husband was enlisted against his will to fight with the English during the Second World War, she and her co-wife were terrified. However: her culture did not permit her to give in to her fears. She was supposed to be strong, being the senior wife, to behave more like a man than a woman. As men were not permitted open grief, she had to learn to hide hers as well. She heard Adaku crying, and she envied her freedom (p.140). The effect achieve by Emecheta was to show that a traditional woman like Nnu Ego is forced to abide to traditional customs, values or beliefs in order to feel fulfilled. If she doesnt she runs the risk of being denied by her husband, classified among bad women and at the same time, compromising her childrens reputation and future. Children thus play an important role in the sense of womens achievement and represent another element which empowers Nnu Ego. Her only goal throughout the novel was to have children and raise them properly since she had been brought up to believe that children made a woman. (p.219) A child is part of a womans identity and the only symbol of hope, success and self-fulfillment for women. This vision of femininity and motherhood established by her culture was the main cause of Nnu Egos failed suicide attempt. When her first child died, Nnu Ego was desperate, in grief and fell into depression. All women agreed that a woman without a child for her husband was a failed woman (p.62). She was brought to perceive herself as a failure and even her closest friends where comforting her husband rather than her. They said to Nnaife who felt guilty: you are to give her children and food, she is to cook and bear the children and look them. A woman may be ugly and grow old, but a man is never ugly an d never old. He matures with age and is dignified (p.71). This disparaging declaration clearly illustrates the image of women and men in the Igbo society. In all cases, the woman is to blame and this has a negative impact on emotional and unstable characters such as Nnu Ego. It could have been fatal but she was determined to refute the fact that she was a failed woman. She lastly gave birth to several children and it is from this moment that she drastically evolved. The financial situation of the couple did not allow them to feed correctly the children and her vision of motherhood began to change. She compared her life to her colleagues who worked and had few children and she regretted having so many children. Her children suffered from malnutrition yet all because she was the mother of three sons, she was supposed to be happy in her poverty, in her cramped room (p.167). She became self-aware that being a mother did not only revolve around having many children but also about raising them properly. She wasnt able to put all the eight of them in good conditions so she put all her hope into her eldest son. Before, her refrain used to be: All will be well when Nnaife returns from war. Now it was: All will be well when Oshia returns from college(p.190). She believed that with rewards of motherhood, she will acquire a higher social status and that he will feed her in her old age and will wipe the tears of shame. In addition to struggling for self-fulfillment, Nnu Ego also struggled between assimilating the colonial lifestyle and sticking to her tradition when she made the transition from a rural world to a modern life. This constitutes another major external conflict of the novel because Nnu Ego was living in a society whose mode of thought and behavior were evolving while she remained firmly attached in traditions. For example, Buchi Emecheta painted a vivid picture of the strict gender division among the Igbo society in her novel. The father instructs his son about how to manage a house, protect the women and introduces him to the rites and traditional meetings. In contrast, the young girls duty is only to help in the house holding. She is firmly taught that her life strictly concentrates on the marriage, having children and cook for her husband. Through this informal education, the young boys are influenced to perceive themselves as higher, better and more important than women whereas the young girls are educated to see themselves as a complement of men. They are also taught to be submissive by bending to the mens requests and desires. As a result, men along with women accept their gender roles as a matter of fact. However, since Lagos is rapidly evolving and tending towards modernization, the daughter of Nnu Ego, Kehinde doesnt understand why she and her sisters have to stay home while her brothers get the chance to study. But you are girls! They are boys. You have to sell to put them in a good position in life, so that they will be able to look after the family. When you husbands are nasty to you, they will defend you (p.176) is the answer given to Kehinde from her mother. This shows that Nnu Ego is still hampered in her tradition while her daughters mentality is changing. This difference of opinion between Nnu Ego and her daughter foreshadowed another major conflict at the novel opposing Kehinde to her parents. However, Nnu Ego eventually rebelled and decided to break the chains of tradition because she could not see her children suffer anymore. In fact, there is an old and Igbo sacred saying which stipulates that women and money are incompatible and if you spent all your time making money and getting rich, the gods wouldnt give you any children ; if you wanted children, you had to forget about money, and be content to be poor. (p.80). Ngu Ego decided during her second pregnancy to abandon her trading works because she firmly believed that it was because she didnt follow the rules that she lost her first child. However, two years later, the family was very poor because Nnaifes incomes were not enough to satisfy their needs. Nnu Egos internal conflict plunged her during a long period of self-doubt and dilemma because she wanted to put her two children in better conditions but was afraid to lose the other child she was carrying. She eventually decided to cross the line which made her benefit from a certain control over the household expenses. The effect achieve by Buchi Emecheta was to show that to be independent, women must initially have some financial freedom. Contrary to her counterparts in Ibuza, Ngu Ego did not completely depend on her husband anymore. It represented on one hand the first sign of revolt and rejection of traditional beliefs. On the other hand, it was a major step for her emancipation and self-fulfillment because she was able to raise her voice. She discovered her power as mother, a woman and a worker. Nevertheless, the fact that Nnu Ego was being more independent did not help her to reach her goal. On the opposite, even if she sacrificed all her money, time and energy on the education of her children, her love and duty for her children were like her chain of slavery (p.186). Emecheta compares Nnu Egos life to a slave in order to emphasize the fact her success will be determined by the success of her children. She strove throughout the whole story to send her boys to school so that they will be member of the new Nigerian elite and tried to raise her daughter according to the traditional model. Such devotion should have helped her to reach her goals but it was not the case because by the time her children grew up the values of her people have changed considerably while she stood firm to her tradition. Nnu Ego refused to adapt to the new mentalities and beliefs and this resulted in a series of disagreements with her children and a series of failure. In the first place, when her eldes t son won a scholarship to study in Canada, her husband was firmly opposed to this idea. In the Igbo culture, when the father reaches a certain age, the eldest son must take over the whole family. However, Oshias dream was to get a higher level of education and this resulted in an irrevocable quarrel. In the end, Oshia was denied by his father and Nnu Ego was blamed for not bringing well her children. From this moment, Nnaife started to refer to the children as Nnu Egos and she was becoming fed up of this two-way standard. When the children were good, the belonged to the father; when they were bad, they belonged to the mother (p.206). It is the same with her daughter who married a man from another tribe. This is considered as the worst act of betrayal and Nnu Ego plunged into despair. She did not understand where she failed and Emechata thus symbolizes Nnu Ego as the danger of resisting change. The heroine was so hampered by tradition which make it looks like women must aspire for c hildren or die(p.187). The conservative side of tradition prevented her from seeing the change around her and its impact on her childrens education. This means that the title of the book, The Joys of Motherhood, is thus ironic and a double-edged sword. On one hand, Nnu Egos cup of happiness was almost full because she was pleased to see her children happy. She was very proud of the fact that she brought up her children even if the road was strewed with difficulties. Her reward was also in the fact that those same children might rub shoulders one day with the great men of Nigeria (p.202). On the other hand, she died alone with a husband who denied her, no child to hold her hand and no friend to talk to her(p.224). Throughout this journey, Nnu Ego has matured and realized that until women keep subscribing to the laws imposed by men, they will be powerless, dominated and unfulfilled. She finally understands that if she failed to live according to the standards expected of her it is because she was a prisoner of traditional values and customs in a modern world. Conclusion As shown in this essay, the patriarchal society in which Nnu Ego lived has established the standards for female valorization. A woman has no identity of her own as far as it is the status and the position of their husbands that defines them. Through the journey of Nnu Ego, Buchi Emecheta shows that the influence of the tradition is highly responsible of the Igbo womens situation because it has on one hand, determined the boundaries between the genders and one the other hand, established standards to which women must follow in order to gain respect and to feel fulfilled. However, colonization has eroded the Igbo traditions which made Nnu Egos life a journey of endless struggles. As a result, the novel is not only a criticism of tradition as regards womens emancipation and self-realization. It is also about a warning of resisting change and it encourages women to fight for gender equality. Nnu Egos self-examination over her successes and failures conveys a powerful message. Indeed, women subscribe to the traditional customs and laws more than men and until they revolutionize this, they will not be able to build a better future for the upcoming generations.

Bruce Dawe Essay -- Australian Poets Poetry Poems Essays

Bruce Dawe Bruce Dawe is a prominent Australian poet born in 1930, in Geelong. His experiences as a laborer, postman, gardener, and in particular his 9 years as a sergeant in the Royal Australian Air Force, have enabled him to recollect and articulate his memories into a renowned compendium, Sometimes Gladness, which has been described as â€Å"perhaps the most successful book of verse by a contemporary Australian poet†. His anthology contains a variety of poems. The three I will be discussing include The Day that They Shot Santa Claus, The Wholly Innocent, and Homo Suburbiensis, all of which focus on life (or the lack of it) and its ups and downs. The Day That They Shot Santa Claus tells a story through the eyes of a bystander; obviously in central Melbourne (the reference to Bourke St). It elaborates not the death of Santa Claus, but rather the consequences of the event. It tells of extreme sadness after the death of the highly prominent symbol of innocence, happiness and festive spirit, key themes of this verse. The speaker is portrayed very sadly, (yet in a way...

Financial Disclosure of Starbucks

Accounting is the language of business. It is used basically to communicate or to provide information about the profit or loss and the financial position of the business about which there are many interested parties like owners, employees, creditors, government, investors, and research scholars. To provide such valuable information an accountant prepares financial statements comprising of Trading and Profit and Loss Account and the Balance Sheet. But these statements cannot meet the needs of a wide variety of users unless they are prepared in a prescribed form and discloses all the material facts of the business.To comply with this accounting principle namely ‘full disclosure principle’ has been developed which postulates that the financial statements should disclose all the important material facts about the business. In addition to this, it also states that the objective of such statements must not only be to provide true and fair view of the state of affairs of the bu siness but also it must be able to give the prescribed forms under which such financial statements are prepared. This disclosure of accounting principle helps the organization to reveal their financial statements and mail stone of the development of the business.A qualified financial statement helps to the organization to take the decision accurately. This paper discusses the disclosure principles followed by Starbucks Inc. with regard to certain items. The essay covers only important items of current assets such as cash and cash equivalents, receivables and inventory. The essay also discusses the various components of cash and cash equivalents of the company. Disclosure Policy with regard to cash and cash equivalents, Receivables and Inventory Starbucks is recognized as the world's number 1 specialty coffee retailer company.It has more than 16,000 coffee shops situated at different countries which are about more than 35 countries. Their outlets offer not only coffee drinks and food items, but also roasted beans, coffee accessories, and teas. Starbucks owns more than 9,000 of its shops, which are located in about 10 countries, but most of its outlets are situated in US, while licensees and franchisees operate more than 7,400 units worldwide and they are mainly focused on shopping centers and airports. The company also owns the Seattle's Best Coffee and Torrefazione Italia coffee brands.In addition to this, Starbucks markets its coffee through grocery stores and licenses its brand for other food and beverage products. Starbucks as a firm has some accounting flexibility in measuring their key success factors and risks. This flexibility makes them to manage its reported numbers in such a way that it makes their accounting data to be informative and reliable as regards to how their company is doing and to evaluate and analyze their performance more significantly. Starbucks, like most other companies in the United States, must adhere to standard accounting policies and conventions.With all of the new SEC regulations, companies have less room to move around numbers in their financial statements in a way to benefit the company and it discloses the financial information more clearly and up to date. In order to assess the firm’s business strategy and explaining key accounting policies financial disclosure is necessary. It describes lot about the items involved in the financial statement such as cash and cash equivalents, cash receivable, inventory, allowance for doubtful accounts, property, plant and equipment, etc.The Management Discussion and Analysis of Financial Conditions and Results of Operations section of the 10-K sufficiently explains Starbucks’ current performance and Also their report describes the increase in earnings. Revenues are growing due to the increase of new stores opening in the United States and in other countries. This depicts comparing the Starbucks’Consolidated Statements of Earnings and Liquidity and Capital Resources. This also shows breaks down each item and describes why each increased between the years.Operating segments are the business segments that are focused on in the 10-K. The 10-K does not reflect any bad news or hardly any poor performance that has occurred. Starbucks is a growing company and their revenues do increase each year, but it mainly shows all the increases of the statements and gives some explanation on why certain items decreased. Cash from Sales consists of Sales +/- the decrease/increase of Accounts Receivable. Each year, Cash provided/ (used) by changes in operating assets specifically Accounts Receivable were at a decrease.Because of this reason why the ratio is below one because Cash from Sales is greater than Sales. ThNetSales/Net Accounts Receivable ratio fluctuated throughout the years. Sales increased substantially each year as Accounts Receivable only increased slightly. The Net Sales/Unearned Revenue ratio consistently decreased through the ye ars. The disclose procedure of inventory valuation with respect to Starbucks can implement moving average cost method, last-in-first-out method, or the first-in-first-out method.All of these methods produce variant outcomes that can either benefit or maintain the financial statements of the firm. Also, every firm has a choice on how they want to amortize Goodwill over the period. They can write-off the Goodwill over forty years or take a more conservative approach and write it off over a shorter time period. It is also important to realize how Starbucks records their inventory on their consolidated financial statements. Since they sell products, not services, they have a large inventory, which they record at the lower of cost or market.It is also crucial how a firm records and depreciates its inventory, and can give investors wrong information if not done correctly. Components of Cash and Cash equivalents The components of cash and cash equivalents are stated by Starbucks as being h ighly liquid instruments with a maturity of three months or less when purchased to be cash equivalents. The cash and cash equivalent components of star bucks Cash and cash equivalents are the most liquid assets found within the asset portion of a company's balance sheet.Cash equivalents are assets that are readily convertible into cash, such as money market holdings, short-term government bonds or Treasury bills, marketable securities and commercial paper. Cash equivalents are distinguished from other investments through their short-term existence; they mature within 3 months whereas short-term investments are 12 months or less, and long-term investments are any investments that mature in excess of 12 months.Another important condition a cash equivalent needs to satisfy is that the investment should have insignificant risk of change in value, when used in the context of payments and payments transactions refer to currency, coins, money orders, paper checks, and stored value products such as gift certificates and gift cards. If in adjustment of cash flow is written that investment is short term which should not consider that investment as a part of cash and cash equivalent.

Free Essays on Net Privacy

The internet has brought mixed blessings to the people who use it. It is a fantastic information source but the relative lack of privacy has brought forth a major problem. Anyone with even little hacking knowledge can track every move that you make while using internet services and/or view private or confidential information. It is now possible for some internet sites can actually find information such as e-mail addresses or the name of the person/people viewing the site without authorisation. This problem can affect everyone who uses any internet services and ultimately can lead to very confidential information(such as credit card numbers) getting into the hands of criminals. Internet services and facilities are now used and provided by many companies and individuals worldwide. Each web site that is visited could have the capability of finding out your name and/or e-mail address and sending junk e-mail or cataloguing this information and then selling it to other companies. The ISP that you connect to the internet also has a record of every bit of information you upload or download, and must keep records for official purposes. Any sites that ask for your credit card number for "pay by use" or restricted services could, in fact, sell or use such information for illegal purposes such as fraud. The actual hardware requirements for using the internet are minimal, only an internet service provider(a company that allows a connection to the internet), modem(to send and receive data transmissions through a phone line), phone line(to dial up the I.S.P,) and a reasonably fast computer(to run the hardware and software) are needed to get onto the internet. This allows almost anyone with a computer to access the internet. Software is needed to browse or view the internet is a browser(such as Netscape Navigator, MS Internet Explorer) and for e-mail services, programs such as Eudora, Netscape Navigator or MS Internet Explorer are needed to sen... Free Essays on Net Privacy Free Essays on Net Privacy The internet has brought mixed blessings to the people who use it. It is a fantastic information source but the relative lack of privacy has brought forth a major problem. Anyone with even little hacking knowledge can track every move that you make while using internet services and/or view private or confidential information. It is now possible for some internet sites can actually find information such as e-mail addresses or the name of the person/people viewing the site without authorisation. This problem can affect everyone who uses any internet services and ultimately can lead to very confidential information(such as credit card numbers) getting into the hands of criminals. Internet services and facilities are now used and provided by many companies and individuals worldwide. Each web site that is visited could have the capability of finding out your name and/or e-mail address and sending junk e-mail or cataloguing this information and then selling it to other companies. The ISP that you connect to the internet also has a record of every bit of information you upload or download, and must keep records for official purposes. Any sites that ask for your credit card number for "pay by use" or restricted services could, in fact, sell or use such information for illegal purposes such as fraud. The actual hardware requirements for using the internet are minimal, only an internet service provider(a company that allows a connection to the internet), modem(to send and receive data transmissions through a phone line), phone line(to dial up the I.S.P,) and a reasonably fast computer(to run the hardware and software) are needed to get onto the internet. This allows almost anyone with a computer to access the internet. Software is needed to browse or view the internet is a browser(such as Netscape Navigator, MS Internet Explorer) and for e-mail services, programs such as Eudora, Netscape Navigator or MS Internet Explorer are needed to sen...

Does your resume pass this key checklist

Does your resume pass this key checklist Life is better with checklists: Highly Organized, Bilingual Administrative AssistantSummary:  This is a short list (or brief paragraph) of the key bullet points that make you most qualified for this particular job. This is a place where you can really tailor the content to the job description, to grab the attention of the reader (or robot reader seeking keywords). You can also use it to highlight your most relevant skills. A summary works best for job seekers who have deep experience or skills in their field.Objective:  This is a short statement letting the reader know your goal(s), coupled with your top-level qualifications. It’s basically a formula: Strong traits + The role you want to fill + Good fit for the company = Objective. The objective works best for people without a lot of experience, or experience in a different field (changing careers).This section sets the tone for the rest of your resume, and can help make the difference between someone reading through the r est of the resume or tossing it aside.The Meat-and-Potatoes Section (Skills and Experience)This is the heart of your resume, so it’s extra important to make sure you’re not leaving anything out. You should include:Your Skills:  Whether you put these before or after your experience (depending on which you want to emphasize for the reader), it’s important to include a standalone section of bullet points describing your relevant skills. Be sure you’re only including the most relevant ones. Your abiding love and talent for playing the tuba may be a huge part of your life, but if it’s not directly relevant to the job for which you’re applying, leave it out.This section should include any applicable hard skills (specific job-related technology or certifications) and soft skills that can be directly applied to the job at hand.Work Experience:  These are separate listings for your most relevant jobs, working backwards through your career. Each w ork experience section should include:Job titleCompany nameDates worked4-6 bullet points outlining your most relevant duties there. As much as possible, describe achievements over simple tasks or responsibilities. You should also be choosy about which jobs you include. If you’ve already held two or three full-time jobs in your career, you can start leaving out part-time jobs or internships that you held in the past. If you need to include a job so it doesn’t look like you have large gaps, you can do that, but you don’t have to include too much information about your job unless it’s relevant to the one for which you’re currently applying. You can use those instead to highlight particular skills you used/developed.The Education Certifications SectionEducation is one of your best assets in a job search, and you should sing it loud and proud on your resume. Just make sure you’re including the most relevant education information, moving back in reverse order. If applicable, you should include:Professional training programs:  If you’ve completed a non-degree course or training program related to your field, include it here.Professional certifications:  If you have a license or certification in your field, include it here.College, university, or professional training program:  Unless you’re in high school, or you’re specifically asked about it, there’s no need to include information about your high school education here. You also don’t need to include graduation dates if you don’t want to do so- employers are forbidden from asking you about your age, so if you feel like this would be offering too much info, you can just include the school name and the degree you received.The Nice-to-HavesIf you have room after including everything outlined above, then there are some other pieces of info you can include on your resume, if they’re applicable to the job.Volunteer experience :  Are the skills or experience from this volunteer position relevant to the job you’re seeking? If so, include. If not, leave it out.Hobbies:  Again, make sure these are relevant to the job for which you’re applying.The Style ChecklistOnce you’ve got all your core info included in your resume, it’s time to take another pass and see how you’ve done, writing-wise. Is your resume:Saved as a standard document format?  Is your resume saved as an uncommon file extension, or one that most computers will readily recognize (like .doc or .pdf)?A short read?  Brevity is key here. We’ve all heard the â€Å"one page† rule, but if you simply have too much experience for one small page, make sure you haven’t gone overboard, length-wise.Organized in a clear and readable way?  The resume should be laid out in a clear, relatively uncrowded outline, so that the reader can easily follow what’s going on. If you’re seeing ma ssive chunks of narrative text, go back and revise it into more manageable bullets. Margins should be no less than 1 inch all around, for readability. Your font should also be consistent all the way through, easy to read, black, and between 10-12 points.Full of action verbs?  Strong verbs can not only grab interest, they can help you cut down on your overall word count by getting straight to the heart of what you want to say.Customized for the job?  Generic resumes are not fun to read, and a one-size-fits-all behemoth may not get you the interview opportunity you want. Take the time to make sure that your skills and experience especially are directly relevant to the job/company for which you’re applying.Proofread?  This one is non-negotiable. No matter how eagle-eyed you may be, we all miss small mistakes in our own writing occasionally. Find a trusted friend or family member to check your resume for mistakes.Taking the time to check these elements help ensure that your final product ends up looking just as smooth and professional as you are.The Un-ChecklistIf you have any of these things on your resume, time to take them out. You should not include:Pictures or visual elements:  Unless you’re doing a portfolio or a visual resume, don’t illustrate your basic resume. And you definitely don’t need to include a picture of yourself.Lies:  Just don’t do it! If anyone questions you or catches you in a falsehood, I don’t think you need me to tell you that it would not be good for your hiring prospects for this job.References:  If the hiring process gets to the point where you need to provide references, you’ll be asked for them. There’s no need to include them upfront and take up valuable space on your resume.References to age, gender, or family status  This information really isn’t necessary, and could introduce potential discriminatory elements, even though employers are forbidden from aski ng you about them.So†¦there you have it, your checklist for building a full and successful resume. Does your resume check all the right boxes?

Readings are from Robert Nozick's The Examined Life Essay

Readings are from Robert Nozick's The Examined Life - Essay Example The philosopher offers to two of lives with the same amount of happiness. The first (A) slopes upwards with an increasingly amount of happiness as the individual ages while the second (B) slopes downwards with a decreasingly amount of happiness as the individual ages. In this case, Nozick is of the opinion that most people would prefer (A) over (B) despite the fact that all have an equal amount of happiness. Nozick asserts that (A) lives with the expectation of better things and more happiness in the future while (B) lives with the memories of the past happiness though his happiness continues to decline with age. Nozick concludes that human beings want happiness to have direction and contours as they age this is because people expect good things in the future (Nozick 86). In the second thought experiment of the experiment machine, Nozick demonstrates that pleasure does not lead to happiness. Nozick questions whether human beings would be willing to be hooked up in technology advances whereby virtual reality machines would allow them feel any experience they wish. According to his experiment, people would not be willing to remain in the machine since it is not real and lacks connection with reality matters such as growing. These feelings of experiment machine would only be false evaluations. According to Nozick, people can be happy for seeing numerous things realized such as World Peace thus feelings are directed connected to individual values that are realized such as academic success (Nozick 99). Happiness is a state of consciousness rather than illusions. Nozick focuses on the reality principle by asserting that happiness is seeing that something has been accomplished. Happiness is focusing at one moment in life that your life is better like what people feel when taking a walk. The third form is focusing on the whole life through reflection on the standard of life that an individual hoped to live. Happiness will entail emotions on events such as friendâ€℠¢s promotion in the workplace. Happiness is based on individual evaluations and beliefs concerning the future, the world, and prospects of success based on standards of expectations. Happiness is more than an emotional response (Nozick 102). Nozick demonstrates this using direction of happiness and experience machine. People would start their life unhappy but end it happy. People desire to live a meaningful life and undergo real experiences in their lives. For a person still hooked up to the experiment machine, being happy would not be the same as having a meaningful life. Living a meaningful life will entail having a positive effect on the surrounding people like family members and society. For one to have a meaningful life, repeated good experiences must be balanced with negative experiences. If people lived in the experiment machine, they would never have any opportunity to grow or establish any meaningful relationships with others. According to Nozick, experiment machine would e nable the individual to have the life desires and pleasures they wish but they would incur some costs since they would need to sacrifice their physical bodies in order to enter in the imaginative world that is reality. Nozick states that human beings should not use such machines since they are capable of living a meaningful life, but the machines destroy the idea of self as well as the ability to establish relationships with others (Nozick 101). Nozick advocates assert that human beings are

Frozen yorgurt Essay Example | Topics and Well Written Essays - 250 words

Frozen yorgurt - Essay Example It otherwise suffers from its flexibility, excess calories and loses its freshness very fast. Red Mango is the best to control, but it has limited the number of flavors. It is awesome when used as a supplement. As a result, it is somewhat costly. There is Baskin Robbins that contains thirty-one flavors, is readily affordable and is consumable at home in cakes. The blow to this category is its self-inefficiency and does not create such a welcoming atmosphere (Ahmed, Haroun and Eisa). Another competitor is the yogurt land that is not artificial, but is affordable. It contains moderate fats and has a taste of its kind. Reasons, why one would prefer frozen yogurt to the others, include its affordability ad lovely feel. It brings fewer health risks thus suitable for the growing youngsters. Considering that it’s painless, it provides an opportunity to couple with other staff including chocolate, candy, granola and fruits. Other benefits include the cooling effect it has during the summer, the awesome savor. Some advantages are personal like creating a beautiful moment when catching up with colleagues and creating an opportunity to spend time with