The Democratic Republic of Congo Research Paper

The Democratic Republic of Congo - Research Paper Example This paper is a critical evaluation of the country’s history, specifically, of the armed conflict which occurred between 1998 and 2003, as well as of the two most recent general elections that have been conducted in the country. The Second Congo War (1998-2003) The Democratic Republic of Congo (DRC) is a country which has had a share of civil conflicts, most importantly, the Second Congo War. This is a war that started in August 1998 and ended in 2003, and at which more than 5 million people lost their lives (Prunier, 2008). It is believed that a significant number of these victims died as a result of hunger and malnutrition as well as of diseases such as malaria and diarrhea among others. Some sources term this war as the African World War based on the fact that the fighting was not exclusively among the Congo people. It may be important to state that other countries such as Rwanda, Uganda, Zimbabwe, Angola, Sudan, Chad and Namibia were actively involved in this conflict, hen ce the reason why some refer it to as the African World War in comparison to WW1 and WW2 whereby different countries formed coalitions to support each other (Prunier, 2008). The root causes of this war were largely based on the events of the first Congo war (Turner, 2007). Zaire, as the country was previously called, was under the authoritarian rule of Mobutu Seseseko for the period between 1965 and 1997, and this had motivated the formation of rebel groups with the intent of overthrowing Mobutu. During this period, too, Rwanda, a neighboring country, experienced a genocide which resulted in the fleeing of members of the Hutu community into the then Zaire, who resided in refugee camps. These people were the prime targets of violence orchestrated by the Tutsis and after fleeing into Zaire, they formed rebel groups, especially Interahamwe, which continued to level attacks on Tutsis in Rwanda. Later, the Zairian forces joined hands with these militia groups to attack Tutsis in Zaire, a nd this compelled the Rwandan government to provide military aid to the antigovernment forces in Zaire in order to remove Mobutu from power, after which someone friendly to them would be installed as president so as to be able to crush the rebel groups (Prunier, 2008). This person happened to be Laurent Kabila, who had been in the forefront for a long time in the fight to remove Mobutu from power. On the other hand, Uganda was interested in the vast resources present in the country and therefore, they also wanted Mobutu to be out of the picture and to achieve this, they joined rebel forces and other politicians in a military campaign to overthrow the then government whose popularity, in the region, was dwindling day after day (Clark, 2002). In May 1997, Mobutu lost the battle and fled the country, after which Laurent Kabila declared himself as president and changed the country’s name from Zaire to DRC. However, after the successful removal of Mobutu from power, the Rwandan an d Ugandan forces remained in the country, which made it difficult for Kabila to exercise authority as president. This was made worse by the fact that Kabila’s government was full of Tutsis, whom he had appointed to senior positions such as the chief of staff, his personal secretary, and minister for foreign affairs among others. Due to internal pressure and his suspicion that the Rwandan gover

Creative Play Essay Example for Free

Creative Play Essay Creative development is provided within settings through role play, music, dance and messy activities. Creativity can stem to a range of other things to, such as problem solving, knowledge and understanding of the world, Personal social and emotional development and physical development. When creative activities are set out for children they can gain a great deal of satisfaction and it can increase the child’s confidence and self esteem. Children do not necessarily have an end product in mind but they may just want to explore and enjoy the creative materials they are using. Children are learning all the time and we as practitioners need to make learning fun and enjoyable. It is important that we provide enough opportunities for children to develop creatively we can do this by providing resources that they may not have access to at home and offering support in exploring these materials. As practitioners we are good observers and reflectors and should encourage children to reflect on their experiences to. From children’s reflections you can then look at where an activity should go next and how you can adapt that activity to support the individual child’s learning. Children can learn from as young as newborn. They begin to learn skills such as grasp, facial expression, textures, smells and sounds. The first sign of a child’s creativity begins with exploring sounds and listening to familiar voices around them. They may link these sounds to key people such as their parents, siblings, grandparents or carers. The process of a newborn is to become familiar with its surroundings and to sense a gain of belonging. They can gain this from bonding with its parents. As the child gets older they begin to learn new skills and have more opportunities in which they are able to explore. They become more inquisitive and like to have free flow of activities within the setting they are in and practitioners need to encourage them to explore the surroundings without taking charge of their play. For babies we offer opportunities for them to explore a wide range of materials and resources such as musical and light toys and natural ‘holistic’ objects such as brushes, wool, saucepans, utensils, wood, sponges and a range of different textured fabrics. Babies use the senses to acquire the skills of play they explore by using their hands and eyes. Children gradually learn to understand the properties of the objects that they played with – whether they are hard or soft, or big or small; whether the have a ight or a wrong way up; whether their shape changes or stays the same; whether they taste or smell good, and so on. Babies learn so much from exploratory play and we as practitioners provide them with a safe and secure place to do this. We let the children take risks which they may not be able to do at home such as having out blunt cutlery, pasta and other exciting and interesting objects in which they can play with and learn from. Children are more likely to l earn through play if you make it exciting for them and you help in supporting their play. When supporting children within their play you should aim to provide minimum intervention in children’s play activities while keeping them safe from harm. You should support rather than direct their play and help create a play environment that will stimulate their self directed play and provide maximum opportunities for them to experience a wide variety of activities. You can show support within children’s play by providing flexible planning and enable them to choose from a broad range of play opportunities both indoors and outdoors. You should support their play by giving the child a choice of whether or not they wish to be involved in the play activity. By giving the child plenty of space to play especially when they are taking part in physical and imaginative play and to provide challenging play opportunities to avoid boredom; risk taking is part of the enjoyment of play. Creative play allows children to express their feelings through art, music, role play, singing and story telling. It is important that as practitioners we introduce new concepts of play to children in order to expand on their existing knowledge. When supporting a child in creative play practitioners should not stress that they are to produce an end product, and that there is no competition to who produces the best piece of work as children develop at different levels and stages. Practitioners should support the fact that the child has had a learning experience whether they have just explored the resources and materials or they have reached the end product. All children should be praised for the efforts they have made and feel pride in what they have achieved and learnt and we should support children in not being disappointed in their efforts of creative play. Children’s creative development is broken down into 4 sections these are responding to experiences, expressing and communicating ideas, exploring media and materials, Creating music and dance and developing imagination and imaginative play. Children need the opportunity to explore and investigate and have a sound knowledge of where they want to go in life. Creativity can give your child a chance to experience and develop new skills and sharing their knowledge and skills with others It is a way in which children explore and develop an understanding of the world. Through creative play children develop social, material, and imaginary worlds and their relationships with them, they elaborate all the while a flexible range of responses to the challenges that they may encounter. Creativity plays a part in all the learning areas within the foundation stage for example; Personal, social and emotional development, creativity builds upon a child’s curiosity and encourages a positive approach to new experiences.

Mcdonalds Marketing Campaigns And Glocalisation Marketing Essay

Mcdonalds Marketing Campaigns And Glocalisation Marketing Essay McDonalds Corporation is the worlds largest chain of hamburger fast food restaurants, serving more than 58 million customers daily (McDonalds- company history). The company came into existence in 1940 by two brothers Richard and Maurice McDonald in San Berdardino, California. The corporation was the pioneer in introducing Speedee Service System in 1948, which is now known as fast food. The present corporation dates its founding to the opening of a franchised restaurant by Ray Kroc in Des Plaines, Illinois on April 15, 1955. Kroc later on went to purchase the McDonalds brother equity from the company. The use of aggressive businesses practices is what defined him as an individual (www.wikipedia.com). One of the main factors for McDonalds immense growth over the years came from Glocalization, where they started entering new markets by either offering a franchisee, an affiliate or the corporation itself. The corporations revenues came from rent, royalties and fees paid by the franchisee s as well as sales generated from the company owned outlets. Glocalisation (or glocalization) is a combination of globalization and localization.   By definition, the term glocal refers to an individual, group, division, unit, organisation, and community which are willing and able to think globally and act locally (ABCs Social Media, September 18th 2008). McDonalds have spread their business to many other countries and rely heavily upon the importance of thinking global and acting local in order to suit the tastes and preferences of cultures of various countries. Kroc believed the corporation could make more money if it appealed to children and went onto sponsoring a kids TV show called bozo the clown (www.bbc.co.uk, A brief history of McDonalds). McDonalds continued to grow as a chain over the USA. Having covered the states, McDonalds first overseas restaurant was in Australia in 1971. The company made its presence felt in most of the European countries. However, the corporation noticed an immense demand and a young vibrant market in the Indian sub-continent. McDonalds first entered India in October 1996 by establishing a joint venture in New Delhi managed by 2 Indians Amit Jatia the managing director of Hardcastle Restaurants spearheaded McDonalds in west and south India while McDonalds in North and East of India are owned and managed by Vikram Bakshi the entrepreneur of Connaught plaza restaurants (www.mcdonaldsindia.com). McDonalds has won several awards in consecutive years from 2001-07. It has built a strong relation with more than 2.75 lakh customers who place their trust in the brand everyday by providing them the highest quality of food and at a great value. OBJECTIVES OF MCDONALDS (company perspective)- McDonalds underwent a lot of changes in order to adapt to the Indian market. As mentioned by McDonalds management in their Indian website- Our strategy is to achieve best value by enhancing experience (offering best quality), while keeping prices low. The objectives of the corporation remain unchanged as they follow the same procedure which defines their global standard. Their main emphasis is on providing food that is served hot and fresh, made from the highest quality ingredients, served within minutes of placing the order (www.mcdonaldsindia.com). However, the companies main objectives in order to ensure consumers have a truly Indian experience is- Local sourcing is the key for truly Indian products- the corporation has developed local Indian businesses, which supply them the highest quality products required for their Indian operations. Respect for Indian customs and culture- McDonalds worldwide is well known for the high degree of respect to local culture. In line with its respect for local culture, India is the first country where the corporation does not offer any pork or beef. An employer of opportunity- an employer of opportunity, providing long term careers and quality employment to the Indian population. Quality, service, cleanliness and value- this is McDonalds USP to provide high quality products, served quickly with a smile and in a clean and pleasant environment. Community partnerships- the corporation believes in giving back to the community it serves. Source- (Mcdonaldsindia) PROMOTION From a marketers point of view, the corporation underwent a huge change in order to market its products in India. Since most of the western nations nearly share the same taste and culture, the corporation uses the theory of standardization since there is hardly any difference in the cultural aspect. However, entering the Indian subcontinent, which differs significantly from the west and also other Asian countries, the corporation got involved in in-depth research before entering the market. Press coverage Media advertisements and tag lines- Media for children- McDonalds advertised their kids meal on cartoon channels by showing a free toy with the purchase of a burger, which attracted a lot of attention to young children. Community work- community work always catches the eyes of the press. The corporation has participated in several fields which contribute to the community as a whole. Example- the mayors marathon for cleanliness, the BMC-McDonalds (Bombay municipal corporation) health seminar, housing charities, supporting pulse polio etc. Source- (http://www.mcdonaldsindia.com/mediacenter.html) This brings me to discussing what this research would conduct. The main subject this research would be contributing towards is whether by thinking global and acting local and the corporations marketing objectives help McDonalds attain a profitable and positive consumer base in the Indian subcontinent. OBJECTIVES OF THE STUDY Marketing campaigns- eagerness of individuals to participate in marketing campaigns. Example- during a festival, are consumers aware of the chance to win a free iPod or to dine in with a celebrity. Marketing mix- how has McDonalds used the marketing mix to adapt itself to the Indian Market. Cultural difference- to identify till what extent has McDonalds gone to culturally adapt itself to the market. Promotional and penetrating strategies adopted by McDonalds with regard to expansion plans and market dominance. Purpose- why do consumers chose McDonalds. This field would encompass the practical idea of cost conscious consumers, societys influence of purchasing patterns, influence of the west, consistency provided by the corporation, influence of children in choosing McDonalds, relaxed environment and advertisement campaigns/social campaigns. New concepts- asking individuals how McDonalds can serve their customers better. This might be in the form of having more location, introducing a concept such a drive thru in more locations, adding more to their existing menu in order to avoid repetitive purchase and stagnancy. LIMITATION This research survey would be targeted towards gaining information on consumers in India and their perception over McDonalds marketing objectives and how well has their Glocalization (thinking global and acting local) campaign help individuals develop loyalty towards the brand. From a companies perspective, the research would help understand and identify the corporations marketing activities but however would not give an insight into the budget that is allocated for them to carry out their tasks. Chapter one: introduction to the study Introduction Objectives of the study Scope of the study Chapter two: global marketing 2.1 The paradoxes of globalization 2.2 The globalization process 2.3 The positioning of Global brands 2.4 Global brands- The cobnsumer point of view 2.5 Global market entry strategies 2.6 Configuring the global marketing mix 2.7 The product 2.8 The price 2.9 The distribution channels 2.10 The promotion Chapter three: methodology 3.1 Introduction 3.2 The case study method 3.3 Applying the exploratory case study method 3.4 The interviewees 3.5 The interviews focus Chapter four: Mcdonalds: the globalization process The make-Up world market Product categories Segmentation of the market The value of the market The expansion strategy New market development The marketing mix Chapter five: conclusions Introduction Implemented strategies analysis Problem identification Recommendations Culture and competitive advantage Effective international division structure Future managerial applications Abstract The exploratory research helps identify and examine how McDonalds corporation manages its marketing strategies based on the concept of Globalization. It helps examine and explore how the American fast food giant has adapted to the local taste and preferences of individuals in the Indian Sub-continent. Based on the concept of globalization and entering international markets, this research identifies the marketing strategies used by McDonalds corporation with respect to the marketing mix, buyer behavior based on consumer perception, cultural adaptation and promotional tools for further business expansion Qualitative research used in this research encompasses interviewing branch managers of McDonalds in selected location in India. The research also focuses on the perception and buying behavior of individuals who dine in McDonalds. The information obtained defines detailed description of various responses from the individuals interviewed, which eventually led to the completion of the research of how the corporation has used globalization and its tools for its marketing strategies in the Indian Sub-continent. Since globalization is a broad concept, the only limitation that this research faces is the clash of cultures, which can be defined as the main driver for problems associated with globalization. The problem identified in the research is based both on basis of society and the organization. This study is based solely on the concept of globalization used by McDonalds for its marketing strategies in the Indian sub-continent and there is no mentioning of comparisons to McDonalds outlets in different countries since the cross cultural analysis would be very limited and would result in the research being incomplete. Eventually, recommendations in the conclusion column is mentioned to address the future strategies that can help McDonalds achieve a more profound and effective approach for achieving a higher market growth. CHAPTER TWO: LITERATURE REVIEW INTRODUCTION Globalization describes the process by which regional economies, societies and cultures have become integrated through a global network of communication, transportation and trade. However, there are several limitations associated with globalization from, the main factor being cross cultural analysis. This is where a new concept emerged, the term Glocalization, meaning think global by acting local. McDonalds have spread their business to many other countries and rely heavily upon the importance of thinking global and acting local in order to suit the tastes and preferences of cultures of various countries. Emphasising on this factor has helped the corporation build effective marketing strategies which have led to a profitable consumer base in India. In order to identify and the marketing objectives of the corporation and the perception that individuals have of the global brand, quantitative research can help establish a base/platform for identifying how these factors contribute to the success of McDonalds in India. To help identify the major objectives of the research, the following forms of secondary research are used- Internal company data Surveys Journals Web articles Computerized databases METHODOLOGY Secondary research can be helpful in identifying the current problem but does not guarantee any solution to the problem at hand. The McDonalds corporation has entered the market only to be welcomed. Years of research have led the corporation to a thorough understanding of the culture and sentiments of the public. The globalization process helps us understand that the buying process does not adhere to the product itself but is associated with fundamental cultural attributes/values which McDonalds understand and values. According to McDonalds senior management (www.mcdonaldsindia.com), standardization of their product is the main phenomena behind their company objectives. However, one key drawback to standardization is that it refers to a product rather than a consumer. A standardized product might be a failure when the cultural aspect comes into question. Hence the adaptation strategy used by McDonalds emphasizes on the consumer more than the product that they offer. (Cateora, 1993) m entions marketeers must be made aware of the diverse cultures present in other countries if they intend on having a profitable international expansion. Applying qualitative research in the form of journal articles, web articles and internal data helps formulate an appropriate research design (Naresh k Malhotra, Marketing research, page 96). Using the corporations internal data, the research identifies what types of entry and adaptation strategies have McDonalds used in India to give its product a definite Indian touch. Before entering the market, McDonalds had to understand the nature and consumption patterns on the Indian fast food industry. The staple fast food diet of individuals before the introduction of McDonalds was- pizza, burgers, chaat (traditional), vada pav (traditional), pani puri (traditional) etc. the leading fast food joints in this sector were Nirulas for pizzas and hot dogs (www.nirulas.com), Wimpys for its burgers, pizza corner, Haladirams for traditional and global fast food cuisine and several other local competitors. The corporation realized and understood the potential for growth in this sector. According to the Government of India website (http://business.gov.in/Industry_services/retailing.php), India is one of the most attractive markets for retail investment. Many national and global players have been investing in the retail segment and have ambitious plans for further expansion. The vast middle class with rising purchasing power are attracting global retail giants into th e almost untapped retail industry. Some of the international players already present in the Indian market include fast food chains like McDonalds and Pizza Huts; Dominos; Levis; Lee; Nike; Adidas; Benetton; Sony; Sharp; Kodak; etc. The investment opportunities in the domestic retail industry lay in most of the product categories particularly food and grocery (the largest category). According to (McDonalds India), the company invested four years to develop its unique cold chain, which has brought about a veritable revolution in food handling, immensely benefitting the farmers at one end and enabling customers to get the highest quality food products, absolutely fresh and at a great value. By using the theory penetration pricing, McDonalds priced its products at rates fairly less in comparison to its global locations. Example- a Mc chicken meal in London costs a person 3.5 GBP. The same meal in India would cost an individual $ 1. Its exclusive vegetarian burgers cost less than 30 pence. Another interesting factor that revolves around the taste a quality that differs from region to region in McDonalds products in order to serve the local taste that consumers prefer, the corporation decided to outsource their supplies to local supplier, hence keeping costs down which eventually benefits both consumers and the corporation. With regards to globalization, the corporation has set its objectives to offering their customers a complete Indian experience, which suits their culture. From a consumers perspective, branding plays an important role when it comes to choosing a product. As mentioned by ( ), the spending patterns of the Indian consumers has evolved over time. The maximum they tend to spend is on food. Since trade and commerce is growing in the country, the consumers are more aware of international brands entering the market and being bombarded with several advertisements which catches their attention and sentiments. POSITIONING OF MCDONALDS The corporate strategy of every multi-national corporation is to enter international markets. According to Keegan (1999), there are three product categories in the local-to-global continuum: national, international and global. However with regards to McDonalds, the research would only compare the differences in a national product and a global product. A national product is the one that, in a context of a particular company is offered in a single national market. Sometimes national products appear when a global company caters to the needs and preferences of countries sharing similar cultures. Example- McDonalds has its standardized product which it sells the world over Mc Aloo Tikki. Since the majority of the population in India are vegetarian, the corporation introduced its first vegetarian burger which suits the tastes and preferences of the local population and the major share of sales for McDonalds in India is derived from its vegetarian products. (www.mcdonaldsindia.com) A global product is offered in global markets. They are international and multi-regional. Example- McDonalds serves its Mc chicken burger in America, Europe, Asia, South East Asia, Australia and NewZealand. This is because the nature of the product suits the tastes and preferences of most cultures. By consulting web articles from ( ), the research identifies approach adopted by McDonalds to advertise its products in India. This would help the research identify the marketing mix adopted by the corporation to suit the Indian sub-continent. Since McDonalds is a global brand, its marketing mix varies from region to region catering to the difference in consumer taste and preferences as well as perception. Perception is what holds the key to positioning a brand. According to Trout and Ries, positioning is not what you do to a product. Positioning is what you do to the mind of the prospect. That is, you position (place) the product in the mind of the prospect. Since that time in marketing, positioning is the technique in which marketers try to create an image or identity for a product, brand, or company in the perception of the target market. What matter is how potential buyers see the product? It is expressed relative to the position of the competitors. Another factor that proves to be a factor which effects globalization is communication. Globalization does bring the world together but however, sharing of cultures and languages of different regions can be a strenuous task not resulting in productivity at times. However the concept of glocalization questions this statement. Having a thorough knowledge of any market can only be possible if there is a local citizen belonging to that region working with you. Hence, having tie-ups and the concept of franchising has helped McDonalds corporation overcome this dilemma and grow in a country where language would have been the main barrier. Quantitative research has helped the research identify how McDonalds promotes its product in a country consisting of a vast social diversity. As mentioned by a web article by (DR. Amit Rangnekar), India as a country has 20 different languages, 800 + dialects and 8 languages for national launch, can make a new product launch for any multi-national company risky and difficult by not choosing the right medium. Extensive use of the media helped capture the attention of several audiences. The corporation understood the sentiments of the population, which helped them, establish a proper communication network to address the needs of the consumers in all major languages spoken. Focussing on the Indian population, the corporation has gone to the extent of creating advertisements which capture the attention of the audience. Example- Leo Burnetts advertisement and taglines for McDonalds India- for the happy meal which was introduced in 1997 what your bahaana is? meaning what is your excuse. purane zamaane ka daam, bees mein full dhamaal- meaning (prices so low that would attract your ancestors, enjoy a blast by paying only Rs 20) and recently Im loving it. McDonalds has undergone a lot of press coverage. As quoted by (The Hindu Business Line)- happy to go McDesi covers how McDonalds besides adapting to Indian tastes is offering a range of touch points for customers on the go. It is focussed on having its presence felt in all spheres right from petrol pumps to kiosks to drive thru and home delivery. (http://www.mcdonaldsindia.com/mediacenter.html) With reference to these advertisements and slogans, the research identifies the significant impact a thoroughly understood marketing campaign has on individuals. The brand has positioned itself to suit pockets of nearly all individuals. With my personal experience, the product that is priced the cheapest in McDonalds India, can suit the pocket of a Labour, who own $ 10/day. Understanding the value and sentiments of individuals has the corporation develop a profound and trustworthy consumer base. According to Dr. Amit Rangnekar of NMIMS, McDonaldsstrategy is based on 5 key drivers of exceptional consumer experiences- People + the 4 Ps and founded on the belief of 3 success components- Operational Leadership marketing Innovation The intent of delivering an exceptional experience to almost 2.75 lakh people a day who place their trust in the brand and offering better efficiency and speed of service is what differentiates McDonalds from local counterparts in India. The efficiency with which they use their resources and the use of technology helps them retain their brand essence. Consumer perception associated with global brands has evolved over the years. According to a survey conducted by (KSA Technopak), the sector for eating out is growing tremendously, since consumer spending is increasing. The Urban fast food sector is growing at a rate of 20 % and quotes McDonalds is just not a substitute for Indian food, its just one more option for people to exercise. Indians want a taste of America but not on a regular basis as quoted by survey conducted by KSA Technopak and Dr. Amit Rangnekar. Inflexibility in the product mix could be their undoing. However, innovation has led to the introduction of products which has resulted in increased footfall of consumers eating at McDonalds and growth in the number of outlets nationwide. Concentrating on the marketing mix of McDonalds, quantitative data has helped the research identify- Pricing strategy Promotional strategy

Essay --

1. Name of the system HRMIS is stands for Human Resources Management Information System. 2. Summary of the system to be developed HRMIS is system that will be developing to assist an employee’s record management in Human Resources Department and Finance Department. This system will help both department to collaborate in the making of finalize report which it been demand in the end of the month or year. This system will retrieve all the activity that contains of employee activities either active or non-active records such as for HR Department they consists a report attendance for KPI (key performance indicator), leave, mc, pension’s information and for Finance Department information like staffing’s salary. So, using this system where it is built using an intranet where staff from this two department can attach and update the information at the metadata immediately whereby it making the information currency. Besides that, they can monitor all the activities that related to the employee among themselves. This system contains a metadata that can be a key to the employee. So the inf...

Myself the Writer Essay

  One of the reasons why I love writing is because it is my desire to progress in writing through setting more achievable objectives, building on novel ideas, in addition to developing new skills. Through writing I am able to advance my knowledge on a variety of subjects. Every time I write I am able to learn something new. I take writing as a way through which I can express my feeling. However, writing is a challenging task due to the fact that it calls for extra caution. There are many rules and regulations that surround writing. Some of these rules limit the extent to which one can express himself in writing (Elbow p, 12). There are various challenges that I come across in the process of writing that tend to slow me down. Finding the right words is the hardest of these challenges. Sometimes it is very hard to find the most appropriate words to make my writing sound the way I would like. Writing can also be a boring as well as demoralizing task when a writer fails to get the necessary information (Elbow p, 26). Trying to figure out the words that will follow the work I have already completed is the other challenge that I face as a writer. Lack of knowledge concerning a particular topic is the other challenge I face as a writer. Along with lack of knowledge, lack of information from various sources is the other factor that negatively impacts on my writing. Writer’s block is the other challenge that I face in writing. However, I have learned that in order to overcome writer’s block I need to put down what is in my head. Work Cited: Elbow P. , (edn 2), (1998). Writing with power: techniques for mastering the writing process, ISBN 0195120175: Oxford University Press US

aerosmith essays

aerosmith essays Cause and Effect Aerosmith In this capitalist society where trends and popular opinions drastically sway the value of arts, it is rather difficult for artists to cleave to their original preferences throughout their careers. This was certainly the case for the popular band Aerosmith who initially had started as a rock band and had then turned into a pop band. In this short paper, I will explain how Aerosmiths drug issues had eventually become the cause for this change in music style. Founded in the early seventies by Steven Tyler, Joe Perry and Ray Tabano, Aerosmith originally began as a rock band. Although Ray Tabano leaves the band, Aerosmith is soon joined by Tom Hamilton, Brad Whitford and Joey Kramer who further strengthened their rock music. Performing their self-made music at local bars, Aerosmtih soon attracted rock fans from all over the United States. After signing with Columbia records in 1973, Aerosmith gradually gained popularity as a hard rock band producing hit singles such as Dream On. Building a strong, targeted fan base, the rock band continuously released hit albums and eventually became one of the significant icons in the genre of rock music. However, the sex, drugs and rock-n-roll band faces a sharp decline in popularity and sales in the late seventies when the members experience serious drug problems. Needless to say, their incessant drug abuse led to bad publicity and performance. To illustrate, the band frequently destroyed hotel rooms with chainsaws, took drugs during performances, attacked fans and so on. Named as the Toxic Twins, Tyler and Perry spent most of their money on drugs and soon went bankrupt. To make matters even worse, Perry and Whitford leave the band in 1979 after a quarrel. Aerosmith had lost most of their loyal fans and was headed for their withdrawal from the music industry. Something...

Causes of the Mexican-American War

Causes of the Mexican-American War The origins of the Mexican-American War can largely be traced back to Texas winning its independence from Mexico in 1836. Following his defeat at the Battle of San Jacinto (4/21/1836), Mexican General Antonio Là ³pez de Santa Anna was captured and forced to recognize the sovereignty of the Republic of Texas in exchange for his freedom. The Mexican government, however, refused to honor Santa Anna’s agreement, stating that he was not authorized to make such a deal and that it still considered Texas a province in rebellion. Any thoughts the Mexican government had of recovering the territory quickly were eliminated when the new Republic of Texas received diplomatic recognition from the United States, Great Britain, and France. Statehood During the next nine years, many Texans openly favored annexation by the United States, however, Washington rejected the issue. Many in the North were concerned about adding another â€Å"slave† state to the Union, while others were concerned about provoking a conflict with Mexico. In 1844, Democrat James K. Polk was elected to the presidency on a pro-annexation platform. Acting quickly, his predecessor, John Tyler, initiated statehood proceedings in Congress before Polk took office. Texas officially joined the Union on December 29, 1845. In response to this action, Mexico threatened war but was persuaded against it by the British and French. Tensions Rise As annexation was debated in Washington in 1845, controversy escalated over the location of the southern border of Texas. The Republic of Texas stated that border was situated at the Rio Grande as set forth by the Treaties of Velasco which had ended the Texas Revolution. Mexico argued that the river stipulated in the documents was the Nueces which was located approximately 150 miles further north. When Polk publicly supported the Texan position, the Mexicans began assembling men and sent troops over the Rio Grande into the disputed territory.   Responding, Polk directed Brigadier General Zachary Taylor to take a force south to enforce the Rio Grande as the border. In mid-1845, he established a base for his Army of Occupation at Corpus Christi near the mouth of the Nueces. In an effort to reduce tensions, Polk dispatched John Slidell as minister plenipotentiary to Mexico in November 1845 with orders to open talks regarding the United States purchasing land from the Mexicans. Specifically, Slidell was to offer up to $30 million in exchange for locating the border at the Rio Grande as well as the territories of Santa Fe de Nuevo Mexico and Alta California. Slidell was also authorized to forgive the $3 million in damages owed to US citizens from the Mexican War of Independence (1810-1821). This offer was refused by the Mexican government which due to internal instability and public pressure was unwilling to negotiate. The situation was further inflamed when a party led by noted explorer Captain John C. Frà ©mont arrived in northern California and began agitating American settlers in the region against the Mexican government.     Ã‚         Thornton Affair War In March 1846, Taylor received orders from Polk to move south into the disputed territory and establish a position along the Rio Grande. This was prompted by new Mexican President Mariano Paredes declaring in his inaugural address that he intended to uphold Mexican territorial integrity as far as the Sabine River, including all of Texas. Reaching the river opposite Matamoros on March 28, Taylor directed Captain Joseph K. Mansfield to build an earthen star fort, dubbed Fort Texas, on the north bank. On April 24, General Mariano Arista arrived in Matamoros with around 5,000 men.  Ã‚   The following evening, while leading 70 US Dragoons to investigate a hacienda in the disputed territory between the rivers, Captain Seth Thornton stumbled upon a force of 2,000 Mexican soldiers. A fierce firefight ensued and 16 of Thornton’s men were killed before the remainder was forced to surrender. On May 11, 1846, Polk, citing the Thornton Affair asked Congress to declare war on Mexico. After two days of debate, Congress voted for war- not knowing that the conflict had already escalated.

CELTA Language Task Essays

CELTA Language Task Essays CELTA Language Task Essay CELTA Language Task Essay I have chosen an authentic article, for it gives students taste of real language in use, and provides them with valid linguistic data for their unconscious acquisition (Swan 1 985, p. 85). Furthermore, an authentic text provides learners with opportunities to experience language as it is used beyond the classroom (Nana 1999, p. 80) as opposed to scripted texts. Thus, an authentic text proves to be more essential to LET for it should engage and challenge students at this level. Believe there are no words that are crucial to an overall understanding of the article. Ere with Harmer (2001 , p. 272) with reference to pre-teaching: by giving them some or all those words, we deny them a chance to practice tackling authentic texts. Nonetheless, I would elicit some lexis to make sure the students have understood the text and managed to guess the meaning from the context. This however would be done ATA later stage of the lesson. Lead in/prediction: At the beginning of a typical English languag e lesson it is good to lead-in by activating the students schema, which is their pre-existent knowledge of the world (Cook, 69, 1989). By encouraging students to use what they already now, the opportunity for language learning is maximized. I would begin by displaying the main picture and the heading of the article, then ask the class to work in pairs. The students would be asked to predict what the topic of the newspaper article is (Appendix 1. 0). This is a very student centered activity which creates interest in the content of the text and activates schemata. Once the discussions quiet down, class feedback would be gathered. To ensure the students read for gist in the next activity, would only flag up three predictions on the board for the students to verify. This stage will leave the dents with a good reason to read (Harmer, p. 288). Skimming (Reading for gist): would ask the students to skim read the article (Appendix 2. 0) and ask them to discuss in pairs whether the predictions they made earlier were correct or not before doing a class discussion. However, to ensure that students gist read only I would give learners 3 minutes, so that they do not read the article intensively. This task is used to develop the students sub-skill Of reading for gist, or skimming (Scrivener, p. 185). Also to make students better readers, it is important to raise awareness that its not always essential to understand very word, as this could cause students to use their dictionaries and pause from reading (Scrivener, p. 153). Reading for further detail (Intensive reading In order to develop the sub skill of reading for further detail, set a series of true/false questions (Appendix 3. 0). The activity will test whether the student! Gained maximum information from the text (Harmer, p. 70). The true and false activities can fall both into reading for specific information and reading for detail, therefore it is very important to formulate appropriate questions, which will require the learner to read to find further detail as opposed to pacific piece of information. In order to have the students focus, they would work on their own, underlining the excerpts of text where they found an swers. Once done with reading and answering true/false statements, the students peer check and discuss their answers among themselves, referring to the highlighted text. Bellyacher quoted in (Alison, peg. 102) states that if there is a climate of trust and support in the classroom, then the students ARP more likely to contribute. One way of developing this is to allow pair checking of answers before open-class checking answers, the students will then be ore likely to contribute during the open class discussion. This promotes communicative language teaching. Furthermore, this would give me an opportunity to monitor student discussions. Once the conversation naturally quiets down I would gather whole class feedback. Nominating a student and also asking them to expand on their reasoning, as well as asking further questions or even getting their personal views. This is an important stage of the lesson, as Scrivener points out a lesson without feedback is teaching dhal proceeds forward without reference to what impact this is having on the g. 73). This is to show their engagement with the text, as opposed to simply answering true/false statements. This could be done with some follow up questions, as Harmer (2007, peg. 75) says, we should always ask the students where in the text they have found the answer, as it provoke a detailed study of the text. Post-reading free discussion The last activity is a free discussion, which would allow me to monitor further for any errors in meaning, form or pronunciation (MAP) while the students discuss their own opinions on these inventions in groups of four. Would first vie an example in the form of my own opinion to present the language in context and encourage students to express their thoughts on the topic. The purpose of the post reading task is to allow the students to utilize the studied vocabulary. I would then gather feedback from the class, nominating group members to summaries what their team has discussed, whether they agree with the creators or not. Having the chance to monitor two major discussion in the class, should at this stage have gathered some errors that the students have made, either with meaning, form or pronunciation. I have left his to the end, as interrupting student discussions to correct an error could be embarrassing, and would disrupt the flow of the lesson. Whereas, towards the end of the lesson it is easy to grab class attention and go through some of the errors together, eliciting the correct MAP from the students, in order to give them a chance to correct their mistakes and fossil the correct form. Reading like listening are receptive language skills and developing these skill: is key to increasing student comprehension and appreciation of the English language. Thus, a well-structured lesson which follows the SEA (Engage, stucco ND activate) stages is essential to the learners development.

Pinky's Department Store Essay Example | Topics and Well Written Essays - 1500 words

Pinky's Department Store - Essay Example The business will be financed with  £ 100,000 by a sole proprietor and  £ 200,000 through a business loan from a bank. Sales are estimated to reach about  £ 52,000 average for the first and second year. A positive cash flow is projected at the end of the first year. Pinky Department Store shall offer products of various British Designers, from casual wear to formal wear, and to special attires depending on the season. As it caters mainly to women in their 20s and 30s who are already busy with their careers, it would present to this target market a wide array of choices in terms of clothing. It would offer practical get ups for the overly busy working women, and would carry stylish and fashionable ensembles as well. Pinky Department Store’s Target Market would primarily be working women in their early 20s to their late 40s, whose monthly salary range is from  £ 10,000 to  £ 50,000. They are the ones who appreciate trend and styles and would spend a considerable amount for nice clothing that would fit their lifestyle and their needs. They are the ones who would choose carefully the clothes they wear for work, for fun and for other daily activities. They are the ones who would watch for the latest trends in TVs and fashion magazines, and would have a know-how in terms of fashion. They have discriminating taste for fabrics and designs, and would not sacrifice quality for cost. 2. Market Knowledge – As a Retail Outlet, it is crucial for Pinky Department Store to be able to identify in particular the trends in the fashion industry to come up with a good mix in terms of its products. Being a retail store, its sole control over its products is the system by which each choice is made regarding the product lines. 3. Inventory Management – By identifying the right products to push, Pinky Department Store would be able to manage its Inventory by acquiring only those that are sellable and keeping in stock only those that may be disposed for a short

Art and Revolution Essay Example | Topics and Well Written Essays - 2000 words

Art and Revolution - Essay Example Racism is obviously the key theme to the story since in Richard wright’s life, it is the central theme. In the 1900s the black community is disrespected and suffers at the hands of its white counterpart. Richard does not see any difference between whites and blacks when he is young but his view in life and particularly in relation to the subject above changes as he grows up (Wright 38). At the time of the death of his friend’s brother and his uncle Hoskins his eyes are opened to the truth. The white people being the ones behind this tragedy that engulfs him, makes him yearn for freedom from racism. Hand in hand with racism is the violence around. This is extreme in the southern states where violence is the order of the day. In as much as Richard looks for comfort from his own people when the whites are suppressing them the opposite is what he gets. He is often beaten by his relatives and family members. This experience together with encouragement from his mother forces him to fight against those who attack and suppress him thus becoming violent himself. He gets into fights in school with the hope and expectation that this will attain the respect and freedom he wants from his peers. It doesn’t stop there because at some point he threatens his aunt Addie and his uncle with razor blades. This is a show that he is desperate and hungry for freedom from violence and even if it means him turning into a violent guy, he is ready to play that card (Wright 58). He is always fighting against someone to be himself, express himself and even better himself in case there is a greater challenge the next day. Richard fights and claws his way through everything in life all in an attempt to accomplish the goals that everyone deemed pointless. The other point clearly coming out in our emphasis that there was a hunger for freedom is the issue on oppression. Oppression occurs between couples of different groups of people throughout the novel. The main being the o ppression of the white community over the black community in terms of availed opportunities, preference and outright hatred just but to the mention a few. As we scrutinize this point we should be careful to not forget that oppression is also evident within the black community itself. Be it in the family setting where it is either the father against the children, a husband against a wife or a brother against a sister. Richard is ridiculed and discriminated against for his intellectualism and desire to write by his neighbors, classmates and even his own family members. The people who should have your back at each and every point pulling you down (Wright 74). One word to describe this, very demoralizing. It is not just the white people that hold black people back but the ones oppressed try and hold back those who want and yearn for a better life. Maldoror and the Complete Works of the Comte De Lautreamont The career of Ducasse is a posthumous one since it is chronically complicated by the interpretation of Lautreamont and Malodor which is a mystery and an enigma. He is born in the month of April 1846. His father being well-to-do and he even goes on to become a chancellor but little is known about his mother (Lautreamont 19). The book is first printed in 1868 under the title les chants de Malodor but the next year, the complete Malodor is printed and bound in Belgium where the author is identified as Comte de Lautreamont. This is because of the fear of

Customer Satisfaction Measurement Essay Example | Topics and Well Written Essays - 1000 words

Customer Satisfaction Measurement - Essay Example Net Promoter measures the loyalty of the customer while the J.D power and Associates measure the customer service. Net promoter is useful because it is a practical method. It has several advantages such as its simplicity (The Net Promoter). It applies the use of questioning through taking up a survey. It uses the Net Promoter Score to determine the business line and even the customer service. It is easy to use unlike other complicated indexes. The company may choose to use a phone, email, or web to conduct its surveys. The Net Promoter has a quick follow-up. This index gives the feedback of customers on time whenever it is assigned to investigate on them. Its work is to contact the company manager and give updates concerning his customers. The Net Promoter is a growing body with a lot of experiences; this implies that it has a lot of experiences. It has worked for several companies (The Net Promoter). It has the ability adaptability hence flexible to any change that can occur at any given time. J.D Associates is popular for its consumer surveys. It is best for conducting automotive surveys in most industries. This index ensures that the customers’ satisfaction is under achievement level (J. D. Power). Its main emphasis is on the effective handling service to customers. It takes into account five measures to determine the overall satisfaction of the customer. It ensures that customers have the required repair and maintenance for their vehicles hence keeping them satisfied with their service. The results shown by the two indexes help the company to identify the customer satisfaction, point the unhappy customers, and get the advocates with full potential. Customer satisfaction survey provides the ratings of customers that can have a powerful effect to the company development. These effects aid the employees to gain focus in their work as a result, they push towards satisfying the customers’ expectations (The Net Promoter). They give warnings about

A paper on the best practice for information systems consultancy Essay

A paper on the best practice for information systems consultancy projects - Essay Example In accordance with the above, consultants need to have the ability to understand the current needs of the firm and propose the most appropriate solution taking into account the current trends of the market and the ability of the firm to follow the project proposed regarding a specific issue. Current paper will discuss the intervention of consultancy in the area of information technology. At the same time particular aspects of consultancy are going to be examined taking into account that firms tend to differentiate their behaviour within a specific market in order to keep their performance at a standard level – wherever such a strategy is applicable. As already stated above one of the most important elements of consultancy is knowledge. This knowledge refers not only to the knowledge of consultant regarding a particular problem of the firm but mainly to the knowledge available to the company on a constantly basis. Indeed, the study of Bollinger et al. (2001, 8) showed that ‘knowledge is a resource valuable to an organizations ability to innovate and compete’. On the other hand, it is noticed by Anand et al. (2003, 15) that ‘the knowledge possessed by an organization and its members can be classified as explicit or tacit; explicit knowledge can be codified and communicated without much difficulty while tacit knowledge--such as the manner of operating sensitive equipment or interpersonal skills--is not so easily articulated’. Consultants should be able to process effectively all types of knowledge ensuring the viability of the firm in the long term. Consultancy was precisely described by Wood (2002). In his book, he stated that consultancy can refer to the following activities: 1 Management and administration: including management consultancy, legal, accounting, financial strategy and fiscal advice, mergers, and takeovers and

Quality Management in Business Assignment Example | Topics and Well Written Essays - 1250 words

Quality Management in Business - Assignment Example The group has a net operating cash flow of  £125.5 million. In the year 2014, Zizzi managed to sell products worth  £594.7 million. Depicting a 5.6% increase in total sales from the previous year. Zizzi’s earnings before interest, tax, depreciation and amortization accumulated to  £119.1 million. There have been significant improvements in food perceptions among Zizzi customers according to The Big Restaurant survey in 2014. Zizzi restaurant is ISO certified (Woodhouse, 2014). I. Understanding the various quality management strategies/techniques that are suitable for commercial operations Zizzi restaurant is perceived to offer services of high quality. Zizzi demonstrates quality by striving to provide the best possible services to its customers. This is offered by Zizzi’s highly trained and talented chefs who cook very delicious Italian and local meals. The design of every restaurant is performed by local artists to ensure the restaurant entails local people’s tastes and preferences. The restaurant utilizes the following dimensions when measuring the quality of services to its customers (McCormick, 2002):  · Features – Zizzi examines the features of different dishes offered in its menu to measure the quality of the services it provides. Dish features include special recipes desserts and spices.  · Performance – The restaurant also scrutinizes financial reports to assess the quality of service it offers. The Increase in total sales indicates a rise in the quality of service provided. Alternatively, a decrease in total sales will imply a reduction in quality.

Marketing plan for amazon.com Research Paper Example | Topics and Well Written Essays - 1500 words

Marketing plan for amazon.com - Research Paper Example cific industry in which Amazon.com operates, the organization requires a holistic marketing strategy associated with the Amazon name rather than attempting the laborious and costly activity of differentiating each and every market in which the company maintains a presence. Therefore, the company should be focusing on building a brand personality for the company as a whole, making a variety of markets gain favorable impressions of the company and not the products or industries in which the business operates. The marketing strategy is to ensure that disparate consumer segments build a perception of brand preference for Amazon.com over its plethora of different competitors. Brand preference is defined as the level to which consumer segments prefer a company or brand after weighing equality related to product availability and pricing structures (Boone & Kurtz, 2007). It is the extent to which consumers would rather make purchases with one company over other competitive offerings in an established market. Advertising is a powerful influence in creating brand preference (Jedidi, Mela & Gupta, 1999). Price is also a substantial persuasion that impacts the level of demand that companies can expect which is an indicator of brand preference (Draganska & Jain, 2006). Amazon.com, as a company that has been in operation since 1994, has already established brand recognition and brand awareness with millions of consumers which is justified by attained revenues of $61.09 billion in 2012 (Amazon, 2013). However, if the company can establish brand preference, it will open many new market opportunities and increase market share for this company that is still in the growth stage. Companies that have managed to establish brand preference experience higher revenue growth and can even allow organizations to charge higher prices since consumers believe in the quality and integrity of the brand (Chaudhuri & Holbrook, 2001). To accomplish this goal of establishing more significant brand

A paper on the best practice for information systems consultancy Essay

A paper on the best practice for information systems consultancy projects - Essay Example In accordance with the above, consultants need to have the ability to understand the current needs of the firm and propose the most appropriate solution taking into account the current trends of the market and the ability of the firm to follow the project proposed regarding a specific issue. Current paper will discuss the intervention of consultancy in the area of information technology. At the same time particular aspects of consultancy are going to be examined taking into account that firms tend to differentiate their behaviour within a specific market in order to keep their performance at a standard level – wherever such a strategy is applicable. As already stated above one of the most important elements of consultancy is knowledge. This knowledge refers not only to the knowledge of consultant regarding a particular problem of the firm but mainly to the knowledge available to the company on a constantly basis. Indeed, the study of Bollinger et al. (2001, 8) showed that ‘knowledge is a resource valuable to an organizations ability to innovate and compete’. On the other hand, it is noticed by Anand et al. (2003, 15) that ‘the knowledge possessed by an organization and its members can be classified as explicit or tacit; explicit knowledge can be codified and communicated without much difficulty while tacit knowledge--such as the manner of operating sensitive equipment or interpersonal skills--is not so easily articulated’. Consultants should be able to process effectively all types of knowledge ensuring the viability of the firm in the long term. Consultancy was precisely described by Wood (2002). In his book, he stated that consultancy can refer to the following activities: 1 Management and administration: including management consultancy, legal, accounting, financial strategy and fiscal advice, mergers, and takeovers and

Marketing plan for amazon.com Research Paper Example | Topics and Well Written Essays - 1500 words

Marketing plan for amazon.com - Research Paper Example cific industry in which Amazon.com operates, the organization requires a holistic marketing strategy associated with the Amazon name rather than attempting the laborious and costly activity of differentiating each and every market in which the company maintains a presence. Therefore, the company should be focusing on building a brand personality for the company as a whole, making a variety of markets gain favorable impressions of the company and not the products or industries in which the business operates. The marketing strategy is to ensure that disparate consumer segments build a perception of brand preference for Amazon.com over its plethora of different competitors. Brand preference is defined as the level to which consumer segments prefer a company or brand after weighing equality related to product availability and pricing structures (Boone & Kurtz, 2007). It is the extent to which consumers would rather make purchases with one company over other competitive offerings in an established market. Advertising is a powerful influence in creating brand preference (Jedidi, Mela & Gupta, 1999). Price is also a substantial persuasion that impacts the level of demand that companies can expect which is an indicator of brand preference (Draganska & Jain, 2006). Amazon.com, as a company that has been in operation since 1994, has already established brand recognition and brand awareness with millions of consumers which is justified by attained revenues of $61.09 billion in 2012 (Amazon, 2013). However, if the company can establish brand preference, it will open many new market opportunities and increase market share for this company that is still in the growth stage. Companies that have managed to establish brand preference experience higher revenue growth and can even allow organizations to charge higher prices since consumers believe in the quality and integrity of the brand (Chaudhuri & Holbrook, 2001). To accomplish this goal of establishing more significant brand

German military Essay Example for Free

German military Essay The overwhelming tactics unleashed by the Nazis at the beginning of World War Two signaled a shocking advance in the art of warfare. The allies struggled to devise defenses against the blitzkrieg of the German military. Eventually, they were able to repel the Germans. However, the nations of the world learned a great deal from the blitzkrieg. This frightening tactic would be emulated and modified in the decades to come. As the Blitzkrieg inspired fear in its opponents, it also eventually inspired overconfidence in the Germans. Many of the nations that the Germans attacked in the first years had antiquated militaries and were ill prepared for the onslaught of the German Wehrmacht and the Luftwaffe. In the first years of the conflict, the Luftwaffe seemed both omnipresent and nearly invincible as it fought on fronts as distant as North Africa and Northern Russia. 1 The Allies would be forced by the Blitzkrieg to rapidly retool their militaries and their military strategies. In the mean time, the Blitzkrieg would cause devastation across Europe. War in the early 20th Century World War One served as a major turning point in the conduct of warfare. Prior to this war, the idea of honor for ones opponent still existed to a certain degree. Many commanders frowned upon sneak attacks and civilian casualties. By 1914, the technology of weaponry had advanced significantly. It was now possible to kill large numbers of 1. Dale Brown (ed. ). The Luftwaffe. Alexandria, VA: Time-Life Books, 1982. (16). soldiers easily. The tremendous number of casualties eliminated any sense of battlefield chivalry that remained. The machine gun, deadly gases, air power and more accurate and deadly shells resulted in unprecedented casualties. Yet, neither side was gaining any substantial ground. The war settled into a deadly stalemate in which soldiers were routinely sacrificed in large numbers with little hope of gain. With the exit of the newly formed Soviet Union and the entry of the United States into the conflict it became clear that Germany would run out of manpower before the allies. The eventual peace levied a punitive price on Germany. The nation was forced to accept full blame for the war, change its form of government, pay reparations and reduce the size of its military. Feeling the humiliation of the Versailles treaty, the Germans who would later come to power were determined not to make the same mistakes as their predecessors. After World War One, a committee was formed to assess war issues and strategies. It was decided that strategies emphasizing maneuver and surprise would be necessary in the future. Carl von Clausewitz and other German military theoreticians had successfully used such tactics in prior wars. 2 The new German command would draw on these principles, and merge them with rapidly advancing military technology. The Germans knew that, for them, a war of attrition was unwinnable. Yet, there were some who wanted to avenge the harsh terms of the Versailles treaty. The Nazis only held a minority in the Reichstag, but Hitler managed to maneuver his way into absolute power. From the early 1930’s, the Germans violated the terms of the treaty and rebuilt 2. Larry H. Addington. The Pattern of War Since the Eighteenth Century. Bloomington: Indiana University Press, 1994. their military to frightening levels. Military leaders, such as Goring and Himmler studied the theories of J. F. C. Fuller and Liddell Hart in order to craft military strategies that took advantage of cutting edge technology. 3 Shades of the future could be seen even before the end of World War One. The Germans used Blitzkrieg-like attacks in Russia and in France during 1918. By that time, however, attrition had decimated the German forces and they were ultimately unable to capitalize upon these successes. What is Blitzkrieg? Blitzkrieg, or â€Å"Lightning War† was a startling advance on warfare first used comprehensively in the Nazi attack of Poland in 1939. The tactic was used extensively in the following years. The Blitzkrieg provided great success for the regime throughout Europe, in North Africa, and initially in Russia. The term â€Å"Blitzkrieg† is now a general term used to describe a variety of military actions. In all cases, it is a well-planned, widespread attack used to decimate the enemy’s defenses swiftly. In World War Two, the Nazi blitzkriegs often consisted of a specific sequence of actions. Any definition of Blitzkrieg should include the following elements: a decentralized command structure, the avoidance of combat in favor of targeting infrastructure, the use of air support, and the use of mobile, mechanized artillery. Engineering assets must also be prevalent in order to keep the force moving quickly. 4 3. Kenneth Macksey. Guderian: Panzer General. London: Greenhill Books, 2003 4. Alexander B. Rossino. Hitler Strikes Poland: Blitzkrieg Ideology and Atrocity. Lawrence: University Press of Kansas, 2003. The term itself came into use in the mid 1930’s, although elements of the strategy had been around for centuries. It came into widespread use after Time magazine used it to describe the German attack on Poland in 1939. First, infrastructure, communications, and the front and back line troops are attacked by air. Any air forces were to be neutralized immediately. This is done by heavy, concentrated bombing sorties. The goal was to effectively blind the enemy and gain air superiority. Following closely behind, tank divisions break through and advance quickly. Other mechanized units follow the tanks, engaging the enemy and establishing strategic strongholds. Communication is critical for such an attack. Advances in radio technology allowed the Germans to create a seamless network in which commanders could receive, and react to, real time information from any sector of the battlefield. Meanwhile, the infantry is engaging the enemy forces. Those forces are then unable to pull back and defend against the fast-moving mechanized forces. The enemy flanks are also attacked. Ground forces continue the process of encircling the enemy forces, while the tank units plunge ever further into enemy territory. The highly concentrated, fierce attacks often caught enemies off-guard. The mechanized units advanced at such a rate that they were able to continually out flank defenders. Often within weeks the enemy forces would be circled and cut of from reinforcements. To enhance the effectiveness of these attacks, the Germans usually did not declare war. In some cases, Hitler had even made non-aggression pacts with countries he later attacked. Unleashing the new war machine The Nazi war plan was the product of years of preparation. Although the Blitzkrieg is a name specifically describing actions that began in 1939, the Nazis had already experimented with the idea prior to the war. The Spanish civil war of the late 1930’s provided a proving ground, of sorts, for a new theory of war. German high command participated in the war, evaluating and honing tactics for the larger conflict to come. According to Dale M Brown in The Luftwaffe: The eruption of that conflict in 1936 had been welcomed by Hitler and his Generals as a heaven sent opportunity for the young German air force to test its planes, train its air crews and develop new fighting techniques under modern battle conditions. 5 In 1939, the Nazi government manufactured a border dispute with neighboring Poland. The Polish army was accused of entering German territory and committing murder. Coincidentally enough, German forces were already poised at the border and ready for an offensive attack. What would occur next would come to be known as the Blitzkrieg. Poland and the other European nations were ill-prepared for the German onslaught. German forces poured in to Poland with lightning speed, while the Luftwaffe quickly neutralized the Polish Air Force. The Blitzkrieg had achieved its first major success. Edwin P. Holt writes in Angels of Death: Goring’s Luftwaffe: The effect was terrible. In minutes the roads were scenes of devastation and carnage. It was a case of a modern war machine 5. Dale Brown (ed. ). The Luftwaffe. Alexandria, VA: Time-Life Books, 1982. (19). fighting a nineteenth-century army. 6 The speed of the attack was unprecedented. It was both physically and psychologically devastating for the Polish populace. Centers of population thought safely within the country’s interior were now reachable in a matter of days. The stunning attacks struck fear into both the civilian and military population. This, in fact, was a critical part of the Blitzkrieg plan. A population that feels utterly vulnerable is likely to submit quickly. The eyewitnesstohistory. com website provides a diary entry fro a German tank commander. He writes of the later French campaign: The people in the houses were rudely awoken by the din of our tanks, the clatter and roar of tracks and engines. Troops lay bivouacked beside the road†¦Civilians and French troops, their faces distorted with terror lay huddled in the ditches. 7 The Blitzkrieg later used against the French would be ruthlessly efficient. Historians disagree as to whether the Polish campaign was technically a Blitzkrieg, citing many of its conventional elements. It has come to be known as the beginning of Blitzkrieg none the less. It was devastatingly fast, and nearly impossible to defend against. The Polish defenders fought valiantly, but they were over matched. Polish troops repeatedly charged the German tanks in what amounted to a suicide mission. Nazi commanders, secure in their tanks spoke arrogantly of the Polish campaign. In Tank, Patrick Wright described the Nazi’s attitude: 6. Edwin P. Hoyt. Angels of Death: Goring’s Luftwaffe. New York: Forge, 1994. (146). 7. Ibis Communications Inc. â€Å"Blitzkrieg: 1940. † 2002. http://eyewitnesstohistory. com/pfblitzkrieg. htm . Accessed 22 December 2006. Hitler’s tank General, Heinz Guderian, claimed that the Polish Lancers took this desperate step â€Å"In ignorance of the nature of our tanks† and suffered â€Å"tremendous losses† as a consequence. 8 After the successful campaign against the Poles, the Nazi regime turned its sights toward the other neighboring countries. Some of them, intimidated by the Blitzkrieg, fell without a fight. Others were quickly overwhelmed by the ever more efficient blitz tactics. Before the end of 1940, Norway, the Netherlands and Belgium had all fallen into German hands. With military confidence at an all-time high, Hitler unleashed the blitz on Russia in 1941. In short order, German troops surrounded Moscow and Leningrad. In the East, Hitler stood triumphantly in Paris. France had been conquered in less than two months. After the First World War, the French had constructed a system of border defenses called the Maginot Line. It was thought that this line could prevent any invasion, or at least delay it long enough for defenders to assemble. The Germans studied the line intensively and found its weak points. This illustrates the theory of schwerpunkt – a maximum concentration of integrated forces at one focal area. 9 From there, mechanized forces could get behind, and eventually encircle defenders. Ultimately, the Maginot line could not stand up to the much-advanced German tanks and artillery. Mechanized units plunged through the line, fanned out, and quickly drove remaining French forces underground. The process would be repeated many times throughout Europe. 8. Patrick Wright. Tank: the progress of a monstrous war machine. New York: Penguin Books, 2003. (232) 9. Bryan Perrett and John Hacket. A History of Blitzkrieg. New York: Stein and Day, 1984. German forces under Gen Erwin Rommel also used Blitzkrieg tactics in North Africa. Initially, they faced little resistance. Deception was often a part of the North African version of Blitzkrieg. Tanks and the Luftwaffe were still the spearheads of the attack, but Rommel also used the natural elements to his advantage. From The War in the Desert by Richard Collier: Behind them [the tanks] groaned trucks whose drivers were doing their best to obey Rommel’s order: â€Å"Rear vehicles to raise dust – Nothing but dust. † 10 Small deceptions such as this allowed the Germans to stretch their forces farther than otherwise possible. The Germans streaked across the desert, acquiring strategic positions and valuable natural resources. The allies had seen the devastating Blitzkrieg in Europe and now they faced a foe of unknown strength in Africa. That was how the Germans wanted it. From The War in the Desert: It was becoming increasingly clear that the enemy believed us to be far stronger than we actually were, Rommel said, â€Å"A belief that was essential to maintain. 11 In addition, the bombing of London is commonly referred to as â€Å"the Blitz†. From the perspective of those being bombed, this is understandable. Militarily, however, these attacks did not meet the technical definition of Blitzkrieg. Still, the whistle of the dive- bombing German Stukas provided the intimidation that could have made a later invasion easier. 10. Richard Collier. The War in the Desert. Alex. , VA: Time-Life Books, 1977. (64). 11. Richard Collier. The War in the Desert. Alex. , VA: Time-Life Books, 1977. (65). A key aspect of Blitzkrieg is the integration of all branches of the military in a well-coordinated attack. Air power was still relatively new to the battlefield. It had existed in WWI. Initially, balloons had been used for reconnaissance and occasional bombing. Later in the war, fighter aircraft were developed to the point of effectiveness. Strategy, however, was in its infancy. Using air power in concert with the army was rare and often ineffective. The Nazi’s were innovative in using the rapidly developing flight technology to its best advantage. If air power was important to the success of the blitzkrieg, the tank was critical. The mobility, firepower and defenses of the tank were substantially better than their WWI counterparts, due mainly to the innovation of the Germans. In World War One the tank was still relatively new. It showed potential as an offensive weapon, but it had many problems as well. WWI tanks frequently got stuck, broke down or were sabotaged. Some were very lightly armored. By the end of the war, the Germans had realized that the tank was ineffective in a stalemate situation. However, it showed great promise in swift, mobile attacks. Some of Germany’s potential foes also realized the military potential of mechanized warfare. British generals, including Sir Basil Liddell, were simultaneously developing the strategy of mechanized warfare. George Parada writes: They all postulated that tanks could not only seize ground by brute strength, but could also be the central factor in a new strategy of warfare†¦. All of them found the tank to be the ultimate weapon. 12 Speed was the central aspect to the Blitzkrieg. The Nazi’s had to cut off 12. George Parada. â€Å"The Concept of Blitzkrieg: Achtung Panzer. † 1996. http://www. achtungpanzer. com/blitz. htm . Accessed 23 December 2006. reinforcements and prevent enemy troops from regrouping to be successful. All of the actions of the Blitzkrieg were aimed toward those ends. Technological advances allowed for that speed. If the first wave of potential defenders could not be completely destroyed, at the logistics and communication that support those defenders could be interrupted. Further reinforcements would then have a difficult time catching up to the speedy German attack. The differences in military hardware between WWI and WWII are stark. Aircraft, for example, had become many times faster and more deadly. Tanks, also, were far more powerful and mobile than in the First World War. The changes in strategy that created the Blitzkrieg soon followed. From the eyewitnesstohistory. com website: This was a new kind of warfare integrating tanks, air power, artillery and motorized infantry into a steel juggernaut emphasizing speedy movement and maximization of battlefield opportunities. 13 The end of the Blitz? The success of the Blitzkrieg was reliant on many factors. For years, the Germans had been planning out every detail of their actions. One critical element, however, was beyond their control. The lack of enemy preparedness was as important as anything the Germans did in the attacks. As the war dragged on, German resources waned and the preparedness of the Allies increased. The blitz proved to be devastatingly effective against Germany’s European neighbors. Most were overrun within weeks. The blitz had its limitations, though. When the Nazi’s attacked the Soviet Union success appeared imminent. Russia is a massive 13. Ibis Communications Inc. â€Å"Blitzkrieg: 1940. † 2002. http://eyewitnesstohistory. com/pfblitzkrieg. htm . Accessed 22 December 2006. landmass with a vast amount of resources and often severe weather conditions. These forces would spread the German military too thin, and eventually turn it back. In the West, the English Channel provided a natural barrier against the Germans. The same fast, well-coordinated and overwhelming attacks that had brought great success in Europe were simply not possible against Great Britain. Germany was never able to gain air superiority over England and never launched an invasion. By 1944 the Blitzkrieg attacks had run their course. The Soviets had outlasted the Germans on the Eastern front. In the east, the Americans had joined Allied forces for the successful D-Day invasion. On the defensive, Germany was no longer able to mount massive blitz attacks. During their retreat, they were able to perform one final coordinated attack, at the Ardennes in France. The Blitzkrieg was undoubtedly effective in the early going. The stealth and speed of the attacks allowed the Germans to quickly conquer territories that might not have been possible with conventional tactics. As effective as it was, the Blitzkrieg could not counteract one maxim of conventional warfare – The side with the most resources will eventually win. The Germans simply could not match the resources the Allies could muster. The element of surprise was also gone by 1943. In the face of overwhelming force, the Blitzkrieg was neutralized. Pointing toward the future The Blitzkrieg advanced warfare to shocking levels. At least in the early going the Germans were successful in avoiding long wars of attrition. The Blitzkrieg also provided an intimidating image in which civilians were often in the crosshairs of the war machine. From Tank by Patrick Wright: †¦the image converts the opening weeks of the Second World War into a collision between eras; petrol against muscle, faceless mechanized power against personal valour. 14 It was a rude awakening to a new era of warfare. Killing was now impersonal in many cases. It could now be done from great distances in any conditions. Te days of two armies warring endlessly along a well-defined front were over. The Germans cannot be given all of the credit for developing what would become the Blitzkrieg. Mobile warfare had, in fact, been around for centuries. German commander Guderian and others gave credit to British theoreticians Liddell Hart and J. F. C. Fuller, although the extent of their influence is still a matter of debate. 15 During the late 1920’s the British had created an experimental force to test the effects of fully mechanized warfare. Fuller created new battle plans emphasizing the role of the modern tank. The Germans studied these actions closely, and improved upon them. Germany had also emerged as an industrial and scientific power. This was critical in the development of their new military. The advances in machinery in the early twentieth century allowed for unprecedented military speed. The Germans learned well from their World War One experience. Other nations were also developing Blitzkrieg-like tactics before WWII. The Germans, however, were the first to use the new strategy in a comprehensive way. In a world still war weary and suffering an economic depression, the Blitzkrieg achieved maximum shock value. 14. Patrick Wright. Tank: the progress of a monstrous war machine. New York: Penguin Books, 2003. (232). 15. Kenneth Macksey. Guderian: Panzer General. London: Greenhill Books, 2003. Anything successful is bound to be copied. The Allies were not oblivious to the new German tactics. The innovative German tactics would now be used against them. George Parada describes the process of adaptation: At the same time [the] potential of Blitzkrieg and related tactics was fully appreciated by the Allies, who implemented its tactics on both fronts†¦George Patton used Blitzkrieg and mobile warfare tactics in his European operations of 1944. 16 Echoes of the German blitz can be seen in modern warfare. The â€Å"shock and awe† campaign of the United States military against the Iraqi regime is one such example. It was a well-prepared and widespread attack on a vast number of pre-designated targets. Unlike the German attacks, this was not initially an invasion. The advances in air and missile technology allowed for this. The Iraqi regime, unlike the European nations in WWII, had plenty of warning that the attack would occur. The goals of the blitz and the â€Å"shock and awe† campaign remain the same, however. The attacks were designed to target military assets and the infrastructure that supports them. At the same time, the attackers want to intimidate and overwhelm their foes. The ultimate goal is to avoid a bloody stalemate such as that in World War One. Today, weaponry has advanced to the point where the element of surprise is no longer necessary for a major power. Guerrilla wars are also far more prevalent today. These types of wars limit the effectiveness of Blitzkrieg-type attacks. In short, the Blitzkrieg has greatly influenced attack strategy. However, the strategy is not as invincible as it once was. 16. Parada, George. â€Å"The Concept of Blitzkrieg: Achtung Panzer. † 1996. http://www. achtungpanzer. com/blitz. htm . Accessed 23 December 2006. Notes 1. Dale Brown (ed. ). The Luftwaffe. Alexandria, VA: Time-Life Books, 1982. (16). 2. Larry H. Addington. The Pattern of War Since the Eighteenth Century. Bloomington: Indiana University Press, 1994. 3. Kenneth Macksey. Guderian: Panzer General. London: Greenhill Books, 2003 4. Alexander B. Rossino. Hitler Strikes Poland: Blitzkrieg Ideology and Atrocity. Lawrence: University Press of Kansas, 2003. 5. Dale Brown (ed. ). The Luftwaffe. Alexandria, VA: Time-Life Books, 1982. (19). 6. Edwin P. Hoyt. Angels of Death: Goring’s Luftwaffe. New York: Forge, 1994. (146). 7. Ibis Communications Inc. â€Å"Blitzkrieg: 1940. † 2002. http://eyewitnesstohistory. com/pfblitzkrieg. htm . Accessed 22 December 2006. 8. Patrick Wright. Tank: the progress of a monstrous war machine. New York: Penguin Books, 2003. (232) 9. Bryan Perrett and John Hacket. A History of Blitzkrieg. New York: Stein and Day, 1984. 10. Richard Collier. The War in the Desert. Alex. , VA: Time-Life Books, 1977. (64). 11. Richard Collier. The War in the Desert. Alex. , VA: Time-Life Books, 1977. (65). 12. George Parada. â€Å"The Concept of Blitzkrieg: Achtung Panzer. † 1996. http://www. achtungpanzer. com/blitz. htm . Accessed 23 December 2006. 13. Ibis Communications Inc. â€Å"Blitzkrieg : 1940. † 2002. http://eyewitnesstohistory. com/pfblitzkrieg. htm . Accessed 22 December 2006. 14. Patrick Wright. Tank: the progress of a monstrous war machine. New York: Penguin Books, 2003. (232). 15. Kenneth Macksey. Guderian: Panzer General. London: Greenhill Books, 2003. 16. Parada, George. â€Å"The Concept of Blitzkrieg: Achtung Panzer. † 1996. http://www. achtungpanzer. com/blitz. htm . Accessed 23 December 2006. Sources Addington, Larry H. The Pattern of War Since the Eighteenth Century. Bloomington: Indiana University Press, 1994. Brown, Dale (ed. ). The Luftwaffe. Alexandria, VA: Time-Life Books, 1982. Collier, Richard. The War in the Desert. Alexandria, VA: Time-Life Books, 1977. Corum, James S. The Roots of Blitzkrieg. Lawrence: University Press of Kansas, 1992. Ferguson, Niall. The War of the World: twentieth-century conflict and the descent of the West. New York: Penguin Books, 2006. Hoyt, Edwin P. Angels of Death: Goring’s Luftwaffe. New York: Forge, 1994. Ibis Communications Inc. â€Å"Blitzkrieg: 1940. † 2002. http://eyewitnesstohistory. com/pfblitzkrieg. htm . Accessed 22 December 2006. Macksey, Kenneth. Guderian: Panzer General. London: Greenhill Books, 2003. Parada, George. â€Å"The Concept of Blitzkrieg: Achtung Panzer. † 1996. http://www. achtungpanzer. com/blitz. htm . Accessed 23 December 2006. Perrett, Bryan and Hacket, John. A History of Blitzkrieg. New York: Stein and Day, 1984. Rossino, Alexander B. Hitler Strikes Poland: Blitzkrieg Ideology and Atrocity. Lawrence: University Press of Kansas, 2003. Rutherford, Ward. Blitzkrieg 1940. New York: Putnam Sons, 1979. Sheperd, Alan. France1940 Blitzkrieg in the West. Oxford: Osprey Publishing, 2003. Wernick, Robert. Blitzkrieg. New York: Time-Life Books, 1976. Wright, Patrick. Tank: the progress of a monstrous war machine. New York: Penguin Books, 2003.

Case Study of China Aviation Oil Corporation Ltd

Case Study of China Aviation Oil Corporation Ltd Risk Management and Corporate Governance A Case Study of China Aviation Oil Corporation Ltd. Background introduction to CAO China Aviation Oil (Singapore) Corporation Ltd (CAO) is the Singapore subsidiary of China Aviation Oil. CAO was established in 1993 and its main business were jet fuel (kerosene) purchase for Chinese airports and international trading of fuels. CAO developed really fast and achieved 92% market share of the procurement of imported jet fuel for Chinas civil aviation industry by 2001. However, it was then involved in a big scandal which lead to its failure. In November 2004, CAO declared a total loss of $550 million and filed for bankruptcy. timeline of critical events Q1 2003 CAO enters into speculative option trades on oil prices with a bullish view Q4 2003 CAO changed its strategy and started trading speculative option trades taking a bearish view. Oct 2004 à ¢Ã¢â€š ¬Ã‚  international oil prices rose steeply, leaving CAO facing significant margin calls on its open (short) derivative positions. Nov 2004 in a press release CAO stated it was unable to meet some of the margin calls arising from speculative derivative trades. The total derivative losses amounted to $550m. Mar 2006 à ¢Ã¢â€š ¬Ã‚  CEO Mr. Chen Jiulin was arrested with the charge of insider trading, fined and sentenced to 51 months imprisonment. Literature Review option-based strategies There are two types of options: call and put option. One can either long or short the two options to gain profit (speculating) or mitigate risk(hedging) from price changes. In this case, CAO started its option trading in 2002 initially to hedge its jet fuel risk thorough. derivatives of futures and swaps. However, in the mid 2003, CAO started trading in speculative derivative options. hedging A hedge is needed to mitigate the risk from potential unfavorable swings in commodities. However, considering the cost and benefit effect, a hedge is not always necessary. One needs to understand the risks to be hedged, evaluate the severity and timing of downside risks properly, consider the financial instruments available and costs of certain instruments to determine the most cost-effective way to hedge. risk management and corporate governance Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from various sources including uncertainty in financial markets, threats from project failures, legal liabilities, credit risk, accidents, natural causes and disasters, or uncertain events, etc. The Board should establish appropriate guidelines for trading and ensured that they were consistent with the companys fundamental risk management policies, management capabilities and expertise, and overall risk appetite and tolerance. Senior managers (including executive members of the board) should formulate the major policies and guidelines of an institution. There should be a separation of duties between those who generate financial risks and those who manage and control these risks. Analysis CAOs trading strategies escalating bets As mentioned above, the companys trading strategy changing from hedging risks in 2002 to speculation with bullish strategy (bought calls and sold puts)in Q1 2003, which proved to be an accurate prediction. However, CAO then took a bearish view of the trend in oil prices in the fourth quarter of 2003, and began to sell calls and buy puts, with the result that it was in a short position at the end of the quarter. As the assumption was that oil prices would fall, it was further assumed that the counterparties would not extend the options, and these would therefore lapse to the benefit of the company. However, the price went further upward this time. The rise in oil prices resulted in the counterparties exercising the extendible features on options, and with the calls that were sold, the company faced the real risk of having to sell the contracted number of barrels at the strike price and realizing substantial loss. incorrect option valuation methodology The Special Auditor from PwC assigned by SGX discovered that the company used the wrong MTM valuation method by ignoring the time value, which lead to the misestimation of oil price and the wrong speculation strategy. While CAO had the chance to remedy the mistake by comparing the pricing with counterparties but the company met the margin calls without protest until it lost the financial capacity to do so at the end of September 2004. motivations behind Financial: the company developed fast and became monopoly in the market since 2000. In order to bolster its profile as well as boost investors confidence and generate more profit, the company was willing to take high risk. Political: according to exhibit 8, the year 2003 saw the burst of Gulf War. The company may want to take advantage of the war so that higher risk is acceptable as fuel is a critical resource during wars. Corporational: the lack of risk management knowledge of the CEO, insufficient management environment within the company and the inefficient external audit, as will be discussed in detail in the next section, further accelerated the fall of the big company. CAOs risk management and corporate governance In its 2003 annual report, CAO indicated that it had a formal system of rigorous internal controls over three layers. Meanwhile, other sources of control includes China Securities Regulatory Commission and External Audits. It seems that the company should have a stringent risk appetite. However, according to PwCs report, despite a continuing significant loss in 2004, in order to avoid recording and reporting losses, the company adopted a much larger risk exposure by selling longà ¢Ã¢â€š ¬Ã‚ term options with extremely high risk profiles to raise the premiums to cover the cost of closing out the lossà ¢Ã¢â€š ¬Ã‚ making option contracts (Exhibit 1). So in effect, CAO coveredà ¢Ã¢â€š ¬Ã‚ up the losses that were realized when closing out the lossà ¢Ã¢â€š ¬Ã‚ making nearà ¢Ã¢â€š ¬Ã‚ dated options. Exhibit 1 It was unclear why the companys directors did not question or object to this contravention of regulations. The Audit Committee did not carry out its function of identifying and monitoring the financial risks involved in options trading, and investigating whether the risk management framework and safeguards were sufficient for dealing with the business. Follow-up Development Restructuring outcome: In response to the investigation results by PwC, CAO indicated in a press statement that it intended to form a committee to study the results and to recommend the company on specific remedial or disciplinary improvements. It also expressed the willingness to be more honest on past events and to move forward with the debt and equity restructuring exercise in a positive manner. The company then called for a creditor meeting to approve its latest debt restructuring plan on June 8. As far as I am concerned, with the resources of the parent company, both from the aspects of finance and entrepreneurship, the support from Chinese government, and the establishment of a strict risk management framework, CAO can still gain back confidence from stakeholders, which may need time and effort. Conclusion Improper application of accounting principles, lack of oversight, inadequate knowledge of market and ineffective risk management systems for the speculative options deal were the major contributing factors towards CAOs failure. We should learn a lesson from the case as factors are similar and equally applicable to different business contexts so it is important to avoid certain mistakes. References Li, S., Nadeem, M. (2010). Risk Management and Internal Control: A case study of China Aviation Oil Corporation Ltd. Farhan. (2016, April 10). China Aviation Oil (Singapore) Corporation Limiteds Jet Fuel Scandal (2005) Casestudy. Retrieved January 15, 2017, from https://financetrainingcourse.com/education/2014/04/china-aviation-oil-singapore-corporation-limiteds-jet-fuel-scandal-2005-casestudy/ Yeo, A. (2014). China Aviation(Singapore) Limited- Sliding down a Slippery Slope: The $550m Derivative Trading Loss on November 2004.

Essay on Character Movement in James Joyces Dubliners -- Dubliners Es

Character Movement in Dubliners  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚   In a letter to his publisher, Grant Richards, concerning his collection of stories called Dubliners, James Joyce wrote: My intention was to write a chapter of the moral history of my country and I chose Dublin for the scene because that city seemed to me the centre of paralysis. I have tried to present it to the indifferent public under four of its aspects: childhood, adolescence, maturity, and public life. The stories are arranged in this order. I have written it for the most part in a style of scrupulous meanness and with the conviction that he is a very bold man who dares to alter in the resentment, still more to deform, whatever he has seen and heard (Peake 2). Joyce's passion for Dublin presents itself in the copious detail he uses in Dubliners. No street name, tower, pub, or church is left unspecified. Joyce often boasted to his brother Stanislaus that if Dublin were to disappear off the face of the earth, it would not be difficult to reconstruct it, simply based on Joyce's work (Walzl 169). Though all but three of the Dubliners stories were written while Joyce was in self-imposed exile form Ireland, he describes strolls his characters took throughout Dublin, carefully noting every turn of every street corner. The movements Joyce notes are not arbitrary, but symbolic. Joyce intended for his audience to give special attention to the direction of the characters' movements. In most of the stories, the East symbolizes willful exile and escape. Movements westward indicate acceptance of corruption and eternal paralysis. In Dubliners, Joyce uses symbolic physical movement to trace the different stages of paralysis in his characters. In the three childhood stories, "Sist... ...ements of his book" (60). The movements of Joyce's characters in his work Dubliners offer a telling picture of where Joyce predicted the city of Dublin was headed. Works Cited Bidwell, Bruce and Linda Heffer. The Joycean Way: A Topographic Guide to Dubliners and A Portrait of the Artist as a Young Man. Johns Hopkins: Baltimore, 1981. Gifford, Don. Joyce Annotated: Notes for Dubliners and A Portrait of the Artist as a Young Man. University of California: Berkeley, 1982. Joyce, James. Dubliners. Penguin Books: New York, 1975. Peake, C.H. James Joyce: The Citizen and the Artist. Stanford University: Stanford, 1977. Tindall, William York. A Reader's Guide to James Joyce. Noonday Press: New York, 1959. Walzl, Florence L. "Dubliners." A Companion Study to James Joyce. Ed. Zack Bowen and James F. Carens. Greenwood Press: London, 1984.