Management Decision Making Essay Example | Topics and Well Written Essays - 2250 words

Management Decision Making - Essay Example This report will present an analysis of the hotel’s resources and systems and evaluate the financial systems, customers, internal business operations, learnings and growth of Forester using the method of balance score card. It will also employ the SERVQUAL method to help in the decision making about the change in revenue generation model. The main task of the report is to conduct an analysis of Forester Hotel in order understand the competitive priorities for the hotel’s customers. This is undertaken by using the Balances Score Card Method for Forester Hotel. The Balanced score card is a technique that provides in depth insights about what a given strategy’s impact may be on different aspects of the organization including the operational and the financial performance, the customer satisfaction and the learning and growth of the organization (Kaplan and Norton, 1996). It is an appropriate tool to arrive at the targets and measures that the organization needs to ad vocate in order to achieve its strategic vision. A Balanced Score card can be used for any organization, but it is particularly useful for service organizations where intangible compinents of operations and services need to be evaluated (Denton and White, 2000). In addition, a balanced score card lets the hotel assess the perceptions and expectations of the customers and hence make the relevant changes in its strategies (Denton and White, 2000).     It is also an exhaustive exercise for the same reason as it involves several steps like the Systems Mapping, the Objectives Mapping and the Strategy Mapping before the balance score card can be developed. Sytem Mapping A balanced score card is however developed on the basis of the information gathered about the financial systems, the customer related systems, the internal operational systems and the learnings and growth systems of the organization. It therefore relies on an exhaustive mapping of the organization in terms of its syste ms and the interlink between them (Kaplan and Norton, 1996). The following figure is a system map and it showcases the systems that are operational at Forester Hotel. Fig 1: Forestar System Mapping Government Legal system: Standards, Licensing Financial support system: Credit, Interets rates Forestar Hotel Operating Systens Restaurants (purchase, prepare, serve) Rooms Management (scheduling $ housekeeping) Activities (schedule, maintenance) Quality Planning Staff Training Food Standards Equipment Maintenance Financial Cost/ Resource Aquisition System Control Systems HR Logistics Purchase Income Generation Capacity Planning Number of Rooms Leisure activities Construction Activities Accomodation Staff Size Food Conferences /Parties Source: Author A system map is a detailed diagram showing the inter-linkages between different sub-systems within an organization and also highlighting the influence of external systems (customer, governmental, legal) on the internal sub systems. It is an e xhaustive representation of how different processes related to each other and hence helps in identification of the impacts that any proposed changes in strategies may bring to the organization (Kaipa, 2000). The only disadvantage of using this technique is that it is time consuming and requires an in depth analysis of the organizat

Math Project Essay Example | Topics and Well Written Essays - 1000 words

Math Project - Essay Example The body structures like kidneys, respiratory structures have been able to be shown on their functionality which has played a major role in improving the treatment of its illnesses. Mathematical models have also helped in the coming up with structures like structures and machines contributing largely to the development of technology. Buildings are first sketched into shapes which are preferably and through that they are able to calculate on the materials to be used in the buildings. Through the models people have tried to come up with various ideas on how they can construct and also improving on the kind of structures to be put in place. Bigger and better buildings have been able to be constructed through mathematical models improving its technology as they use better machinery (Berry 2006, pg.41). Through the models most of the people who have visualize are able to put up into images and the mathematical modeling they are able to come up with building of various different shapes (Kl amkin 2007, pg.45). This has led to the emergence of machineries which are used in making work easier. Scientists find it easier to use models in coming up with ideas while creating machines in different fields. Mathematics models help in solving engineering complexities brought about by the technology evolution. It assists by giving out possibilities to be used in order to manage the technological complexities incurred. They are able to give new ideas or solutions in fewer periods thus more innovations leading to a positive effect to the industry saving time and money. Graphs have also contributed largely in determining the trend or behavior of certain things like in medicine it is used in hospitals in testing pulse rate, blood pressure and other illnesses. Through the graphics instruments in mathematical modeling various people are able to use in stating their industry’s potential like the industry is able to tell if there has been a rise in their profitability and also be able to see their trend and compare it with other competing companies (Gibbons 2005, pg.12). Mathematical models have been used as a teaching guide to the children as they are taught various shapes. In education and also industries it has been able to help in calculation of volume, mass which makes it easier. It has been used in calculating the amount of cement in building, construction and also in medicine in finding the amount or quantity of medicine to patients. Mathematics has contributed largely to the world’s technology evolution. Its contribution has played a major role in many technologies being discovered either scientifically as is assists in calculation etc. Most of the building or infrastructure has majorly depended on calculations in order to put up structures (Berry 2006, pg.67). Through calculus and geometry they are able to construct a sketch on the architecture world. Mathematics provides the platform for architecture through the measurements for example math ematics contributes the unit of measurement for building in meters, inches or feet in which technology simply encodes and decodes. Mathematics also contributes to building of technological hardware because it creates basis of forming these hardwares through shapes and sizes. Sizes in the sense that the developers use inches and centimeters to create these hardwares otherwise technology would not have a standard for example the developers of computers use inches to

Effectiveness of global governance

Effectiveness of global governance Never in the history of the world, has there been such dynamic and complicated level of political, social, economic and cultural fusion. The world as we have it now has evolved from the political era of colonization, which featured states like the United Kingdom and France governing almost all parts of the world, to the subsequent emancipation of states, the popularization of democracy simultaneously with the jet rate of improvement in information technology and transport, which has more or less led to the new world that we have today, the one where lives are so intertwined that distance, gender and colour are no barrier, the world where racism has lost most of its meaning, as people from different races and backgrounds are united in ensuring that the technological revolution does not negatively impact us all. The wide spread of scientific and technological discoveries has brought about the emergence of issues which transcend states borders, from free trade, deregulation, drug trade, Internet scam, Cancer, HIV, Global warming to Terrorism. These issues have more or less propelled states towards joint international efforts, aimed at providing a measure of safety and orderliness in world affairs. Global governance has been given a lot of interpretations in literatures. Global governing can be seen as the coming together of different transnational actors to address political, economic, social and cultural issues of international importance that transcend national or regional borders. This essay will attempt to focus on the existence of global governance and the people and organisations which has been instrumental to global governing, these are regarded as actors in global governance and can be grouped into the Nation-State, International organisations, Transnational or Multinational Corporations, and (International)Non Governmental Organisations. I will also go further to explore the effectiveness, or lack thereof, of global governance. This essay adopts the Neo Gramscian theory of global governance which postulates that there is the presence of hegemonic power dominance in global politics and economics. These powers uses international organisations to maintain the existence of capitalism, thus shaping global governance at the expense of a majority of the society, (Gill, 2000; Gill and Law, 1993; in Held and McGrew, 2002. P.13). I will conclude this essay by suggesting some possible reforms that can bring about some effectiveness in global governance. Global gove rnance exist in theory and practice, what remains contestable is its effectiveness in addressing global issues. Actors In The Shaping Of Global Governance THE NATION STATE The state can be defined in terms of a geographical and cultural entity, with heterogeneous or homogenous people occupying a definite territory. With this definition, we see that every geographically marked entity is a state, sovereign or not. The state as we have it today has come to be associated with sovereignty, security, power and territory, and as the only means of ensuring its citizens are well provided for. The inclusion of the state in global governance, thus, is automatic. Among all the actors in global governance, the state has the longest history of existence, seen by their citizens as their representative both nationally and internationally. The bloc of nations regarded as developed countries are those indutrialized states which have enjoyed aeons of political and economic dominance, while the developing countries is reserved for The state has been instrumental in the creation of all other political actors, (Held, 2000. P.398). International organisations are the result of state deliberations and agreement, free trade, liberalized economy, recognition of fundamental human rights, and democracy adopted by the states have given transnational corporations and Non Governmental organisations alike, the freedom to contribute to global governance. The inclusion of these non state actors in governance, to some people, has eroded the powers enjoyed by the states,(Mathews, 1997. p.50) while this might be true to an extent, it is noteworthy that the state still remains the most powerful actors, controlling the international institutions and their own territories. States like the United States of America, with a strong dose of hegemonic power, and China still get veto power on most issues in the international arena, and since international institutions laws are binding on NGOs and TNCs alike, it follows that they are still a little bit indirectly controlled by the states. INTERNATIONAL ORGANISATIONS International organisations simply refer to those organisations which are created as a result of the enhanced relationships between states, for the purpose of overseeing political, economic, and social relations between them, to ensure fair dealings amongst states, and act as an arbitrator whenever dispute arises. International organisations can be split into those organisations set up through state agreements (membership is optional for all nations of the world), and those which are also set up by the state, but for states sharing the same region,(regional organisations). Examples of the former include The United Nations, The World Trade Organization(WTO) formerly the General Agreements on Tariffs and Trade (GATT), The World Bank, and The International Monetary Fund(IMF). Examples of the latter include The European Union(EU), The North American Free Trade Agreement(NAFTA), The African Union(AU), and The Association of Southeast Asian Nations,(ASEAN). The international organisations like the GATT, IMF and the World Bank were established during the Bretton Woods conference following the great depression. The United Nations was established in 1945 to promote international peace and cooperation, world security and human rights. Its membership include almost all soveriegn nations of the world and it has a number of organisations set up to carry out its duties. Organisations which include the World Health Organisation (WHO), the World Food Programme (WFP), the United Nations Children Fund (UNICEF), and the International Court of Justice (ICJ). TRANSNATIONAL CORPORATIONS Transnational corporations are such corporations, which due to large capacity or capital, have been able to establish branches of their organisation in other countries apart from their home country. They are called transnational because they have been able to establish their subsidiaries in countries more than one. These corporations are also referred to as Multinational Corporations(MNCs). According to Held et al, MNCs account for about 25% of world production, and 70% of world trade, while their sales are equivalent to almost half of the worlds GDP(Held et al.,1999; UNCTAD,2001, in Held and McGrew. 2002: p.3). These corporations are usually privately owned, or owned by a group of persons with public shares. Examples of TNCs include Microsoft, Adidas, Wal-Mart, General Electric, Hewlett Packard, ExxonMobil, Toyota, etc. TNCs exist in every industry known to mankind. The emergence of TNCs in the global economic arena has led to their inclusion in the political arena also, as they have become forces to reckon with in the international scene. The liberalization of trade, globalisation and democracy, revolutions in information technology and transport, has enabled these corporations to transfer their technology and services to different countries with favourable market structures, and has more or less unleashed their ability to give a new meaning to global economy. Due to efficiency and technological advancements of these firms, we see the privatization of government controlled corporations to them. In Nigeria for example, the Nigerian Telecommunications was privatized, giving TNCs the right to bid and buy, which resulted into the sale of the Nigerian Telecommunications plc, to Transcorp Ltd. Government-controlled firms are increasingly outsourced to TNCs, and their expertise is sought on various occasions. The reason why TNCs are more popular and important in the world and especially in the developing world is because, due to their large capital base, they have been able to establish their presence in a lot of countries, they have enough capital to hire and pay smart technological geeks to keep them abreast of technological innovations, they even practically invent most things themselves anyway!. These companies, unlike most state departments, are sophisticated and dedicated because they are capitalists who have been able to put together a team of people who are best in providing the services required. For instance, in Nigerian federal universities, it is not uncommon to find lackadaisical attitudes to teaching amongst lecturers mainly because there is always salary disagreements between themselves and the federal government. Meanwhile, private universities in the same country can effectively boast of the best,(might not be most experienced though!) lecturers because they can afford to pay them and monitor their activities. Subsequently, they use these incentives to draw federal lecturers away from government service. Capitalism is the main driving force of TNCs, and this is a great propeller for their competition for economic and probably, political power control. NON-GOVERNMENTAL ORGANISATIONS Non Governmental organisations,(NGOs) can be regarded as organisations or movements which are not established by the government of any state, rather they are liberal activist charity groups usually founded by individuals or corporate firms, to address issues affecting the society as result of globalisation. They are either globally recognised(International NGOs), or local mobilization groups. NGOs as we see this days, have been a significant force in global governance through their involvement and activities on issues such as the protection of human rights, environmental hazards awareness, the promotion of gender equality, etc, (Held and McGrew,2002. P.244) NGOs activities, like every other sector of the world affairs, have been made easier and more global as a result of the technological revolutions, (Castells,2008. P.86). Small scale activist groups get the chance to advertise and liaise with other people who share their vision in other parts of the world, to build a strong network for their cause. Examples of INGOs include the Amnesty International, The Red Cross Society, Greenpeace, etc., all of whose specialization ranges from environmental awareness and first aid, to the popularization of fundamental human rights. NGOs are individual organisations who do not command the kind of traditional sovereignty enjoyed by the states and International organisations, or the capital that TNCs can boast of. As such, they resort to mass mobilization of workers, activists, and volunteers, as well as funds from corporate organisations, government donations, members dues, individuals committed to charity, to effectively realize their goals. Concerned with humanitarian affairs, reduction of poverty, diseases, and the improvement of the welfare of the people in the developing countries, NGOs charge themselves with the duty of providing first aid, relief materials to victims of war and natural disaster, sensitizing people about growing killer diseases, while also acting as the mouth piece for the millions of neglected people, whose voices will never be heard in the international arena. Due to the nature of their activities and scope of concentration, we often find NGOs acting in roles traditionally meant for gover nments- providing avenue for public opinion for the people, (Wilkinson, 2002. P.xii). we also find that local NGOs could actually be single people who felt they needed to make a change in their environment, a classical example being nominees of the CNN Hero awards, people like 28year old Efren PenaFlorida who founded a teen company to keep youngsters out of gangsterism, and Andrea Ivory, a lady who gives free awareness and tests to women to detect early signs of cancer, (CNN Living,2009). These people use their money, resources and time to promote a better world in their own way. The main contributions of NGOs to global governance lies in their attempt to influence the decisions of states and international organizations to include areas which affect not only the economic lives of people, but the social and cultural areas as well, in their legislations, i.e., to ensure that public opinion is sought on issues, and people benefit from both political and social globalisation. They also seek equality and social justice, (OBrien, 2007. P.394). Equality and social justice as regards gender bias, economic imbalance between nations, racism, and social stratification. NGOs have been the most effective way of ensuring increased awareness of international politics to public opinion, they have, as far as I see, been able to somewhat promote accountability and transparency in global governance. Governments now know that there are associations which will launch demonstrations and picketings on them when they make selfish policies. BENEFITS OF GLOBAL GOVERNANCE The form of global governance that we have today, regardless of obvious lapses, controversies and inconsistences, have been able to keep the world in a relative sanity, preventing anarchy, which would have been what we will have in absence of a regulating system. Due to the growing interconnectedness, the world needed a machinery that can be used to provide law and order and maintain relations. The ability of the form of governing that we have today, to successfully keep the negative aspects of globalisation to a bearable minimum, has also been a plus on its part. If we did not have international organisations to regulate and arbitrate, states would probably have been raining weapons of mass destruction on each other!. This is very important because, in globalisation of the magnitude that we currently have, there should be a system to ensure orderliness, and the International organisations are surprisingly providing this in their own way. Global governing has also been able (to a limited extent), check the excesses of governments against their own citizens and against other countries. This is more on the part of international organisations. They have been able to impose sanctions where agreements are breached, and this has promoted some form of accountability and responsibilty. It has also been able to reduce wars between nations through negotiations , arbitrations and sanctions, which probably even made going to war more tedious than before. SHORTCOMINGS OF GLOBAL GOVERNANCE People usually say that the form of global governance that we have today has done little to be effective in terms of keeping peace and maintaining economic and social stability. This is not an unfounded accusation. The inability of international organisations to effectively eradicate the gap between the rich nations and the poor nations (Murphy, C.N. 2000. P.789), socially and economically, has led to a distrust for the system. Poorer or developing nations have been given a chance to develop through free trade, and economic liberalisation, while developed countries have been given the chance to officially exploit the poor nations through this same economic policies. The policies made by these organisations are deliberated upon by participating nations, but like in the case of the United Nations, vetoed by the security council, which comprises of the most powerful nations of the world. At the end of the day, we can say most policies will not end up being objective. This also brings in the unfairness of the system. Whether it is obvious or not, global governance is still aware of hegemonic powers and their influence, as such, preference is given to them above others. Even TNCs who do not make international rules, will probably sign a deal with the United States faster than it would, say, Benin Republic, except of course if it has a capitalistic motive on the latter. The coalition of the states, international organisations, non governmental organisations, and transnational corporations, has led to multiplicity of opinion, interests, and actions. This is bound to have a negative effect on the society. Effective global governing cannot accommodate extreme diversity of opinion, and this sometimes bring chaos of ideas and ineffective policy making, and there goes the saying of Too many cooks spoil the broth!. International organisations are accountable to their creators,(the states), NGOs are accountable to their donors, while the TNCs are accountable to their owners, and possibly, shareholders. This, I see as multiplicity of allegiance which is capable of bringing diverse self interest in governance. At the end of the day, only NGOs are capable of the largest rate of accountability to the people, who are supposed to be beneficiaries of global governance. Accountability to the states by the international organisations, is supposed to be a form of ind irect accountability to the people, but this only works if the state is effectively accountable to its people. At the end of the day, it looks like they all are pursuing interests other than that of the people. Also, NGOs are obviously the only channel through which active public opinion is sought, developed nations try to do this to an extent. Developing nations most times do not have the facility or the conscience to seek public opinion. In Nigeria for example, results of the nations dealings with other countries only appear in newspapers, when most times, nobody even knew the country was entering an agreement anywhere. The media is used to seek public opinion, and more than half of the nation probably do not even have access to a television, newspaper or radio. WHAT CAN BE DONE? One of the most mportant things that can be proposed for an increased success in global governance is the increased effectiveness of international organisations,(Baylis, et al. 2008 p.35). Since international organisations are the highest determinant of regulations in economic and political activities, they should have the ability to function effectively independently of any hegemonic power or dominant state. If these organisations are equipped with mechanisms to achieve their goals and less vetoes and influence comes from the states, they might just be able to transform into organisations with enough backbone to see the world through. The possibility of total autonomy from the states might not be possible, but if partial autonomy is achieved, it will be better, at least GATT was a more dominated version of WTO and it was successfully transformed to this institution with better autonomy and standard dispute resolution techniques, (Narlikar,2005. P. 86). Efficiency in the making and execution of policies, in penalties for transgressors, sanctions, supports and objective governance, are crucial to any organisation established for regulating world affairs. If this actor of global governance is effective, it will be able to regulate the results of globalisation and the relationship between the states, NGOs and TNCs in economy and politics. NGOs and TNCs are consisted mainly of private organisations, so the most effective way to achieve effective governance is through the international organisations who can check the excesses of the other actors. There also needs to be a balance between the attention given to economic, political and social issues. The concentration of the present form of governance on global market outcomes, states competition and power tussle, has left a huge gap in the social arena. These issues should not take precedence over poverty, education, health, employment, environment, etc. less hegemonic dominance is required to build a better and sustainable system of global governance. BIBLIOGRAPHY BOOKS BAYLIS, J., SMITH, S. and OWEN, P. eds.(2005) The Globalization of World Politics: An Introduction to International Relations, 3rd ed. (Oxford: Oxford University Press). BAYLIS, J., SMITH, S., and OWEN, P. eds. (2008) The Globalisation of World Politics: An Introduction to International Relations, 3rd ed. (Oxford: Oxford University Press). GILPIN, R., (2002), A Realist Perspective on International Governance in Held, D. and McGrew, A. eds., Governing Globalization: Power, Authority and Global Governance, (Cambridge: Polity Press). Held, D. et al (1999) Corporate Power and Global Production Networks Global Transformations, (Stanford: Stanford University Press), Ch. 5: 236-282. Held, D. and McGrew, A. eds (2002) Governing Globalization: Power, Authority and Global Governance, (Cambridge: Polity press). MURPHY, C.N., (2002) Why Pay Attention To Global Governance in Wilkinson, R. and Hughes, S. eds. Global Governance: Critical Perspectives, (London: Routledge). Narlikar, A. (2005) The World Trade Organization: A very short introduction, (Oxford: Oxford University Press). OBrien, R. et al (2000) Contesting Global Governance: Multilateral Economic Institutions and Global Social Movements, (Cambridge: Cambridge University Press). OBrien, R. and Williams, M. (2007) Governing Global Political Economy Global Political Economy: Evolution and Dynamics, Ch. 13, (Basingstoke:Palgrave). Wilkinson, R. and Hughes, S. eds. (2002) Global Governance: Critical Perspectives (London: Routledge). JOURNAL ARTICLES Castells, M. (2008) The New Public Sphere: Global Civil Society, Communication Networks and Global Governance, The ANNALS of the American Academy of Political Science, 616(1): 78-93. Held, D. (2000) Regulating Globalization? The Reinvention of Politics, International Sociology, 15(2): 394-408. Mathews, J. (1997) Power Shift Foreign Affairs, 76(1): 50-66. Murphy, C.N. (2000) Global Governance: Poorly done, and Poorly Understood, International Affairs, 76(4): 789-803. Slaughter, A-M. (1997) The Real New World Order, Foreign Affairs, 76(5): 183-197. BROADCAST CNN Living, (CNN Heroes), 2009 [TV Programme] CNN, 28 November 2009.

Race and the Death Penalty Essays -- Capital Punishment Race African-A

The death penalty is one of the most controversial issues on American soil. Blacks are more likely to face the death penalty than whites in the commission of identical crimes(CNN, 2014). The history of capital punishment dates back to the days before Christ. The Old Testament adage 'an eye for an eye, and a tooth for a tooth,' has survived throughout the ages despite the New Testament's rendition of 'thou shall not kill'. Today's American victims endure a more demure of style of cruel and unusual punishment; death by lethal injection has replaced the barbaric traditions of the past. Statistics prove that for many years the death penalty has fallen disproportionately on racial minorities in the United States. For example, since 1930 nearly 90% of those executed for the crime of rape in this country were African-Americans, and currently, about 50% of those on the nation's death rows are from minority populations representing only 20% of this country's population. Nearly 40% of those executed since 1976 have been black, even though blacks constitute only 12% of the population. And in almost every death penalty case, the race of the victim is white. Of the 229 executions that have occurred since the death penalty was reinstated, only one has involved a white defendant for the murder of a black person (Race and the Death Penalty, 2003). Does this mean that minorities are inherently criminals, or is there an undercurrent of racial segregation affecting the views of the majority in our society? T.V. shows, such as Cops, often depict persons of color as the criminal ele ment, reinforcing the myth that minorities are to be feared. Blacks are sentenced to jail and the death penalty more often that any other minority in America. As the national inmate population has increased in recent decades, the impact of these changes on minority communities has been particularly dramatic. Two-thirds of the people in prison are now racial and ethnic minorities, and for black males in their twenties, one in every eight is in prison or jail on any given day. Moreover, black males born today have a one in three chance of going to prison during their lifetime, compared to a one in seventeen chance for white males. These trends have been exacerbated by the impact of the "war on drugs," with three-fourths of all drug offenders being persons of color, far out of proportion to thei... ...people and it should be abolished. References Author Unknown (2015) Race and the Death Penalty, ACLU. Web. 28 Nov. 2015. https://www.aclu.org/race-and-death-penalty Author Unknown (1994, March) Racial Disparities in Federal Death Penalty Prosecutions 1988-1994 [Online], Available: http://www.deathpenaltyinfo.org/article. Beal, F. (2004, October) Criminal Justice Racism Verified in Recent Studies, Available: www.blackradicalcongress.org/ comm/chronicles Fessenden, Ford. 2000. Deadly Statistics: A Survey of Crime and Punishment. The New York Times September 22, 2000. Available: www.nytimes.com Goertzel, T. (2004, July) Capital Punishment and Homicide: Sociological Realities and Econometric Illusions, Available: http://www.deathpenaltyinfo.org/article. Kalogeras, S., & Mauer, M. (2004, May) The Sentencing Project: Racial Disparities in the Criminal Justice System, Available: http://www.sentencingproject.org/ Rovella, D. (1998, June 8) Race Pervades Death Penalty, Available: www.picard.tnstate.edu/~cmcginnis/RacePervadesDeathPenalty.htm Staff, CNN. "Death Penalty Facts That May Surprise You." CNN. Cable News Network, 8 Sept. 2014. Web. 28 Nov. 2015.

Accounting: Prudence Concept Essay

Prudence concept: revenue and profits are included in the balance sheet only when they are realized(or there is reasonable ‘certainty’ of realizing them) butliabilities are included when there is a reasonable ‘possibility’ of incurring them. Also called conservation concept. Du Pont analysis A type of analysis that examines a company’s Return on Equity (ROE) by breaking it into three main components:profit margin, asset turnover and leverage factor. By breaking the ROE into distinct parts, investors can examine how effectively a company is using equity, since poorly performing components will drag down the overall figure. To calculate a firm’s ROE through Du Pont analysis, multiply theprofit margin (net income divided by sales), asset turnover(sales divided by assets) and leverage factor (total assetsdivided by shareholders’ equity) together. The higher theresult, the higher the return on equity. Return on Equity ROE. A measure of how well a company used reinvestedearnings to generate additional earnings, equal to a fiscal year’s after-tax income (after preferred stock dividends but before common stock dividends) divided by book value, expressed as a percentage. It is used as a general indication of the company’s efficiency; in other words, how much profitit is able to generate given the resources provided by itsstockholders. investors usually look for companies withreturns on equity that are high and growing. Net Working Capital Net Working Capital, is defined as Current Assets minus Current Liabilities. Current assets include stocks, debtors, cash & equivalents and other current assets. Current liabilities include all the short-term borrowings. The formula is the following and the figures are expressed in millions: operation costing hybrid of job-order and process cost systems. Companies that manufacture goods that undergo some similar and some dissimilar processes use this system. Operation costing accumulates total conversion costs and determines a unit conversion cost for each operation. However, direct material costs are charged specifically to products as in job-order systems. Amortization 1. The paying off of debt in regular installments over a period of time.  2. The deduction of capital expenses over a specific period of time (usually over the asset’s life). More specifically, this method measures the consumption of the value of intangible assets, such as a patent or a copyright. Preliminary expenses These are incurred for the incorporation of a company. They may be paid by the promoters before the company is incorporated or by the company after it is incorporated. And they include the following: a) professional charges paid for drafting of memorandum of association and articles of association; b) professional charges for consultation in incorporating the company; c) cost of printing of the initial copies of MoA and AoA; d) stamp duty for the documents; e) registration fee paid to the Registrar of Companies (RoC) for incorporation; f) bank charges incurred on the above; and g) incidental expenses such as stationary, conveyance, and so on. capital gain The amount by which an asset’s selling price exceeds its initial purchase price. A realized capital gain is an investment that has been sold at a profit. An unrealized capital gain is an investment that hasn’t been sold yet but would result in a profit if sold. Capital gain is often used to mean realized capital gain. For most investments sold at a profit, including mutual funds, bonds, options, collectibles, homes, and businesses, the IRS is owed money called capital gains tax. opposite of capital loss. Leverage 1. The use of various financial instruments or borrowed capital, such as margin, to increase the potential return of an investment. 2. The amount of debt used to finance a firm’s assets. A firm with significantly more debt than equity is considered to be highly leveraged. Leverage is most commonly used in real estate transactions through the use of mortgages to purchase a home. Job Costing Job Costing involves preparation to calculate the costs involved of a business manufacturing goods. These costs are recorded in ledger accounts throughout the year and are then shown in the final trial balance before the preparing of the manufacturing statement accounting concept and conventions In drawing up accounting statements, whether they are external â€Å"financial accounts† or internally-focused â€Å"management accounts†, a clear objective has to be that the accounts fairly reflect the true â€Å"substance† of the business and the results of its operation. The theory of accounting has, therefore, developed the concept of a â€Å"true and fair view†. The true and fair view is applied in ensuring and assessing whether accounts do indeed portray accurately the business’ activities. To support the application of the â€Å"true and fair view†, accounting has adopted certain concepts and conventions which help to ensure that accounting information is presented accurately and consistently.

Bel Canto Historical Analysis

Historical Analysis In Ann Patchett’s Bel Canto, the setting is reflected off of the Lima Crisis, otherwise known as the Japanese embassy hostage crisis, which began on December 17, 1996. Bel Canto is a story on the events that happen in the house of a South American country’s vice president. It portrays the relationships of the characters and their feelings toward one another as well as explains the hostage situation. In the Japanese embassy hostage crisis, similar events took place, such as the actual overtake of a mansion which contained high-ranking military officials and others of a high social standing.Both settings deal with the releasing of hostages in exchange for demands that were never met, which led to the resolution of both the Lima crisis and Patchett’s Bel Canto. Bel Canto reflects the historical Japanese embassy hostage crisis, although Bel Canto has a third person omniscient point of view of the occurrences on the inside of the mansion. Bel Canto imitates the incidences of the Japanese embassy hostage crisis.The Japanese embassy hostage crisis was a 126 day hostage crisis where members of a revolutionary movement known as the Tupac Amaru Revolutionary Movement had taken over 600 hostages, a decent amount of which were high ranked military officials and other well-known ambassadors. The MRTA, led by Nestor Cerpa, took over the highly fortified residence of the Japanese ambassador. Cerpa proclaimed that he would release any of his hostages who weren’t involved with the Peruvian government, and they did so. The MRTA eventually release all the captives except 72 men.The original plan of this takeover was to change the ways of the government. In Bel Canto, although the terrorists originally came to take the president, they were a rebellious group from the country and wanted changes in the government. The rebels demanded a few things in return for the safety of the hostages. They requested â€Å"The release of their membe rs from prison; a revision of the government’s neoliberal free market reforms, and they protested against the cruel and inhumane conditions of Peru’s jails† (Japanese embassy hostage crisis).In Bel Canto, the rebels have demands as well: ‘The terrorists having no chance to get what they came for, decided to take something else instead, something they never in their lives knew they wanted until they crouched in the low, dark shaft of the air-conditioning vents: opera. They decided to take that very thing for which Mr. Hosakawa lived. ‘(71). Both terrorists wanted demands out of their seizures of the mansions. In both Bel Canto and in the Japanese crisis, a Red Cross official was the ‘negotiator. He attempted to setup a barter system to which the terrorists would get supplies so long as they give hostages back in return. In the Japanese crisis, Luis Cipriani had worked on getting a deal that would allow the terrorists to be let go into Cuba as exi les. This negotiation failed, as did some of the consultations from Bel Canto. Messner, the negotiator, attempts to make several negotiations with the terrorists, throughout the novel. Although both mediators do try to work the situations out with the rebels, they are not able to meet the standards of the negotiations.In the end of both Bel Canto and the Japanese embassy hostage crisis, the terrorists were killed. They were not done in the same fashion, although the hostages were saved. In Bel Canto, the terrorists allow the hostages to be outside, and one day while they are together, a group of government troops come and shoot all the insurgents, as well as Hosokawa. In the Japanese crisis, a military assault overwhelmed the rebels and forced them to either surrender or be shot and killed. Bel Canto is very much reflected upon the happenings of the Japanese embassy hostage crisis.The similarities of the negotiations between the outside world and the mansions, the motives for invasi on, and the format of how the situations end are all closely related. The book may not have total accuracy of the Lima crisis, although the internal view of the occurrences in the mansion provide a different side of the hostage situation. Works Cited Japanese embassy hostage crisis. † Wikipedia. Wikipedia. Web. 23 Jan. 2013. . Patchett, Ann. Bel Canto. 2005 ed. New York: HarperCollins, 2001. Print.