Technology Is The World Of Online Education - 1026 Words

As the world of online education continues to evolve, schools are incorporating digital learning into their classrooms. Through diversifying learning and opening communication technology has become the most unique way to develop the comprehension the school’s desire. Student learning and the outcome of the technology generation has become a common development and looks as though it is here to stay. This paper discusses the pros for technology as the gateway to education, such as: diversity technology gives and individuality and responsibility technology makes students have; however, the most repetitive con this paper discusses and disproves is the idea that technology is a distraction. Technology is one of the most controversial and innovative subjects in recent history. It has been said that it’s what will cause us to survive in the near, but distant future. Technology has been entering the realm of education for years now. Some schools are becoming one on one schools-where every student has their own computer. The increasing population of ELL students have also come to use technological resources as a way to not only communicate, but to learn the English language. However, there are those who see technology as a distraction or it does not socialize the students. The main argument for technology in the classroom is that emerging students should be able to apply classroom concepts to daily life, and a large part of daily life revolves around technology.Show MoreRelatedImpact Of Technology On Education1404 Words   |  6 PagesWith the great advances in technology, one can accomplish many great feats, be it Virtual Reality, a backpack desktop computer and ev en smart watches. However, technology has influenced many other parts of our world including education. How has technology influenced education? How do the pupils receive an education? How does technology play a viable role in this process? I will specifically be focusing on how education in South Africa is affected by technology. Technology has played a valuable roleRead MoreOnline Learning Is Not The Next Big Thing1279 Words   |  6 Pagestrue advantages of online education. Not only with college students, but younger K-12 kids too. Editor of Training and Development Magazine, Donna J Abernathy, wrote, â€Å"Online Learning is not the next big thing, it is the now big thing† (Pappas). She is referring to the advancements in technology that are here in the present, that are here to help, and are here to teach. More frequently these days, K-12 students are using online-based work. Some say submerging kids into technology is unhealthy for theirRead MoreTechnology : Technology And Education1702 Words   |  7 PagesTechnology and Education In today’s society, technology has become the world. Technology is shaping the world and many people are using it for its convenience. Technology has changed tremendously that it is now being incorporated into the educational system. Heidi Hayes Jacobs, an author and world renowned education leader stated that, â€Å"Teachers need to integrate technology seamlessly into the curriculum instead of viewing it as an add-on, an afterthought, or an event†. Technology should help enhanceRead MoreTechnology And The Education System Interaction1494 Words   |  6 PagesTechnology and the Education System Interaction Technology has been part of our lives in every different aspect ever since it was created and now we use it in our education system to boost up our knowledge rapidly. The usage of technology can be seen from the increased amount that numerous of each students posses, from smart phones to Ipads. Also in classrooms there are a significant increased amount of technology being used today from computer labs to online classes. Yet, many of these technologiesRead MoreImpact of Technology on Education1146 Words   |  5 Pages------------------------------------------------- Positive Impact of Technology on Education Technology plays a very important role in the field of education, especially in this 21st century. In fact, computer technology has become easier for teachers to transfer knowledge and for students to obtain it. The use of technology has made the process of teaching and learning more convenient. Talking in a positive sense, the impact of technology on education has been extraordinary. Using Internet and computers asRead MoreOnline Education : Explanatory Essay764 Words   |  4 PagesOnline Education: Explanatory Essay Every year and every decade colleges change. Courses and requirements all change over the years. One thing that has changed over the years is online education. Online education was not always a part of colleges and courses but over time it has developed and has become part of the current college education. But what is online education? The article â€Å"Online Education. Opposing Viewpoints Online Collection† said it best. â€Å"Online education, also called distance learningRead MoreThe Importance Of Technology Education932 Words   |  4 Pagesget online classes and some people like to learn face to face with a teacher. Back then in the 1900’s not that many people enrolled in college because they did not have enough funds to help support them in college so they were always stuck working in low wage jobs. Then in the early 2000’s lots of people were able to afford college so an enormous amount of people enrolled so the teachers had to find a new form of a tea ching method. Thats when teachers adapted the teaching form of technology. StudentsRead MoreWhat Is Computerized System Learning?1688 Words   |  7 Pagesassistance program for education. Prior to the onset of technology in the classroom and in higher education, the learning in the classroom started with someone writing on a chalkboard and then posing a question or making a statement, also known as the chalk and talk method. That was the norm. Today that has changed. Technology and Computerized Systems learning has made learning on the university level more convenient and accessible then ever. To begin let’s start when â€Å"technology† was first gettingRead MoreUsing Technology For Academic Success1192 Words   |  5 PagesUsing Technology to Increase Academic Success Michael D. Calabrese COLL 100 American Military University Professor Jennifer Gordonâ€Æ' Using Technology to Increase Academic Success This essay will talk about how in today’s modern world we can use technology to increase the academic success of a student. Along with that, we will cover the different types of devices used today, the World Wide Web and its search engines, how technology is used in school and what are its downfalls, and how technology benefitsRead MoreOnline Education Will Help Benefit Student s Intellectual Skills1411 Words   |  6 Pagesthat the world of technologies will advance so much that we can learn course through this area. Online education will change the effect of time itself. This will lead to start of benefit of how the world will transfer in another one hundred years. â€Å"On that point are increasing opportunities for scholars to earn high school credits online over the Internet without attending a regular school. Generally speaking, do you approve or disapprove of this practice?(Sandra. M) II. Online education will help

Walmart Supply Chain Management System - 2559 Words

WALMART REATIL SUPPLY CHAIN MANAGEMENT System Karan Dewan 300808446 Professor Jeff Parsons Business Communication BUSN 733-102 12th November 2014 Executive Summary Wal-Mart supply chain management system is one of the best in the world. Wal-Mart emphasized the need to reduce purchasing costs and offer the best price to the customer. The company directly procured from manufacturers, by passing all intermediaries. For Wal-Mart, its SCM methods yield lower costs for products and inventory, better control over selection in its stores and the ultimate result of lower prices that can be passed to customers, Trade Gecko said.(Alliance, 2014) Wal-Mart was successful in launching the new technologies in their supply chain management system like â€Å"Cross docking† which makes sure that once the order is placed it is tracked from the warehouse till it reaches the end customer. In this system, the finished goods were directly picked up from the manufacturing plant, sorted out and then directly supplied to the customers. The main plan of Wal-Mart’s SCM is providing good quality product to customers with lower price. In addition, Wal-Mart also plans to minimize it inventory quantities (University of San Francisco, 2010). In order to achieve those plans, Wal-Mart integrates manufacturing, suppliers, and warehousing together. Wal-Mart purchases the goods from very fast range of vendors. In order to get the right product at right place and at right time they need to maintain aShow MoreRelatedWal Mart s Supply Chain Management Essay1510 Words   |  7 Pages WAL-MART’S SUPPLY CHAIN MANAGEMENT TECHNIQUES Praseeda Sasanka Pisipati NUID :94862513 Table of Contents: Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦3 A Brief History of Supply Chain Management (SCM)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....4 How Supply chain management influenced the retail business †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..5 Gartner hype cycle and scope of SCM trends†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.7 Supply Chain Management in the Gartner hype cycle†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreSupply Chain Management Is A Process Which Requires Precise1366 Words   |  6 PagesSupply chain management is a process which requires precise efficiency for smooth business practice. Efficient supply chain management can separate companies within an industry and deliver impressive results with net positive effects. The theme of supply chain management requires the effective use of assets to satisfy customer needs. Components include, the flow of goods, the transportation of products, labor usage, warehouse/inventory management, aggregate planning, and etc. Given recent technologyRead MoreStrategic Vision And Operations Planning1210 Words   |  5 Pages Over the past ten years Walmart has become one of the most powerful retails with the highest sales around the world. The company has been recognized with a successful supply chain management. However as 2016, Walmart closed 269 stores, this means that not all the stores are successful and there is a problem that is affecting its operations planning. Walmart by 32nd St. has operation planning problems during winter time when the population increases in the area. This report was written to understandRead MoreWalmarts Vision And Strategies1542 Words   |  7 PagesWalmart stores can be found across the United States and 26 other countries globally, including – Canada, Mexico, Brazil, Puerto Rico, Ghana, China, United Kingdom, India, and others. In order to adequately serve the expanding demand for quality goods at reasonable prices – Walmart has to ensure that its supply-chain functions efficiently on a regular basis. To this end, in what follows, the author explores the manner in which Walmart manages its supply-chain, the impact of the management of theRead MoreOrganizational Structure Of Walmart1055 Words   |  5 Pagescompany I chose to write about is Walmart, in this paper I will be describing the Organizational structure, and also explain the importance of effective Supply Chain integration in an organization. Due to Walmart holding such a strong leadership position in the Global market its supply chain management according to (flash global.com 2017) overall methods and main components line up with most supply chains like purchasing, operations, distribution, and integration. Walmart has 120 million square foot networkRead MoreAnalysis And Evaluation Of Walmart1158 Words   |  5 PagesI. BACKGROUND Walmart the supercenter giant was founded in Rogers, Arkansas in 1962(Walmart). Founded by Sam Walton with his visionary leadership and along with his associates they focused on helping consumers and communities to save money and live better (Walmart). The successful retail giant has been known to dominate markets and operate on global efficiencies. Walmart operates in 27 countries with more than 11,000 stores serving more than 2 million consumers worldwide (Walmart). The economic satisfactionRead MoreWalmart Case Study Essay1621 Words   |  7 PagesWal-Mart, now it is branded as Walmart is the world largest public multinational corporation by revenue in 2010, which runs a chain of large discount department stores and a chain of warehouse stores worldwide. Walmart focuses on the improvement of sales, constant reducing costs to offer goods at the best price, the adaptation of efficient distribution and logistics management systems to ensure the constant flow of the goods and the use of innovative IT and systems to accurate efficient operatingRead MoreWalmart Swot Analysis : Walmart Essay984 Words   |  4 PagesWALMART ANALYSIS 1 WALMART ANALYSIS 5 Business Process Management Hieu Le Columbia Southern University Walmart Analysis Walmart is the largest supply chain in the world which distributes different products of multiple firms. For the last fifteen years, Walmart has grown significantlyRead MoreChina: The Start of a New Era for Wal-Mart Global Expansion1514 Words   |  6 PagesWalMart in China Introduction WalMarts approach to global expansion exemplifies the journey of self-discovery many corporations who have a stable, profitable domestic base of operations go through as they attempt to enter new markets globally. For WalMart this meant confronting the exceptionally high level of ethnocentrism in their organization while also using their analytics-based prowess to better understand cultures, not just costs and profits (Ming-Ling, Donegan, Ganon, Kan, 2011). TheRead MoreSupply Chain Management : Walmart And Amazon Essay838 Words   |  4 PagesSUPPLY CHAIN MANAGEMENT-INDIVIDUAL Introduction: The supply chain management is considered as a management concept from past two decades as the customers are concerned about timely and safe delivery. The competitiveness has been increasing among the companies to deliver the products as quickly as possible to the customers all around the world. This has made the supply chain management as a vital tool for the management. This is also measured as a competitive parameter for the companies. The two supply

Conflict Management Drawbacks in the Business

Question: Discuss about theConflict Management for Drawbacks in the Business. Answer: Introduction: Conflict management is one of the major drawbacks in the business. In the recent years, most of the businesses have been facing difficulties in diminishing such issues in an effective manner. According to Condliffe (2012), conflict management not only damages the workplace culture but also it decreases the production level of the business. Over the past few years, workplace diversity allows the employees in discussing their ideas and views on a particular topic. Consequently, different ideas and point of views indeed create conflicts among the employees in the organization. In this particular assignment, specific recommendations have been provided the managers for reducing the conflicts in the business. Moreover, the discussion has been based on the assignment 3, where critical review of journals has been conducted in an efficient manner. By analyzing the assignment 3, different points of views on the conflict management have been sketched throughout this particular research paper. Discussion: For reducing the conflicts in the business, the organization could adopt different strategies including the accommodating, avoiding, collaborating, compromising and competing. The utilization of the accommodation occurs in the business when one party wishes to keep calm for reducing conflict at the workplace (Pines et al. 2012). Employees utilizing the accommodation strategy need to track and develop the resentment in an effectual manner. Besides the accommodation, the employees must focus on the avoiding conflicts in order to uphold the peaceful work environment. On the other hand, by analyzing the assignment 3, it can be assessed that the organization needs to follow the constructive conflict management model for reducing such issues within the certain timeline. With the involvement of the constructive conflict management model, the organization would obtain the productive, mutually beneficial decision for the business. According to Wolff (2013), the constructive model indicates th e conflicts in the business, where the benefits exceed the cost. On the other hand, the constructive conflict has several beneficial aspects in the business. For instance, the constructive conflicts provide adequate opportunities to the organization in order to increase the participation in the decision making process. During the development of the conflicts, different ideas can be identified. Consequently, it facilitates the manager to evaluate the most beneficial ideas for the business. Besides this, the impact of the conflict management also facilitates in accumulating the better information regarding the business. According to de Wit, Greer and Jehn (2012), the managers in the organization would obtain several ideas for diminishing the conflicts by the implementation of the constructive conflict model. By analyzing the article, it can be assessed that the involvement of the constructive model would also focus on enhancing the understanding among the employees. Without improving the understanding level, the manager would not be able to enhance the business opportunities within the targeted timeline. Hence, it can be assessed that the importance of the constructive conflict model would facilitate the manager in reducing the conflicts at the workplace in an appropriate manner. In the assignment 3, the author has clearly identified the fact that the conflict is bound to happen when all team members work together for a particular project. For executing a project in an efficient manner, the team members need to share their individual ideas and suggestions for improving the quality of the project. Hence, the author has suggested to the managers of the organization in analyzing the entire project before the execution. Moreover, the project manager needs to analyze, identify and evaluate the beneficial aspects as well as the drawbacks of the conflicts and their impacts on the individual performance (Wolff and Yakinthou 2013). On the contrary, the article reviewed in the assignment 3 has also identified the fact that the conflicts management has some benefits for the business. With the involvement of the group conflicts, the team members could easily highlight their individual ideas in an efficient manner. In most of the cases, the organizations have been facing challenges due to the managerial conflicts. The managerial conflicts have several drawbacks in the business. For instance, due to the conflicts in the management, the organizations suffer from the problematic work environment. Tjosvold et al. (2014) have discussed the fact that the conflict in the work environment would cause the huge loss in the business. Over the past few years, most of the industries have been experiencing the huge employee turnover due to the conflicts in the organization. In the assignment 3, the author has discussed that the impact of the interpersonal conflicts. Interpersonal conflict is important in the business, as it often provided a proper solution to the business. However, upholding a proper level of interpersonal conflict is important for achieving the triumph in the business. By analyzing the effectiveness of the interpersonal conflicts, it can be assessed that the particular process has several beneficial aspects of the business including competition, attrition, teamwork, and providing a solution to the queries (Prenzel and Vanclay 2014). With the involvement of the interpersonal conflict, the management would be able to identify the effective solution for the targeted issues. In most of the cases, the interpersonal conflicts enhance the teamwork ability in an efficient manner. The particular article has highlighted the importance of the interpersonal conflicts in a detailed method. Hence, it can be recommended to the manager to adopt the interpersonal conflicts in the organization for obtaining the business growth. In the assignment 3, another article by Powelson (2015) has identified that the nature of the conflicts needs to be analyzed in an effectual manner. Without discussing the cause of the conflicts, the managers would not be able to able to come to its conclusion. By highlighting the possible cause of the conflicts, the managers would be able to clarify the particular matter to the employees. On the other hand, the small and medium enterprises have been facing issues regarding the huge attrition rate in the business. Consequently, it damages the effectiveness of the business. By focusing on the interpersonal conflict, the managers would be able to monitor the exact reason for employees disengagement from the business (Haynes, Haynes and Fong 2012). In most of the cases, the interpersonal conflicts facilitate the management to identify the origin of such issues in the business. In the assignment 3, the author has identified the win-win approach for reducing the level of conflicts in the business. Win-win approach or the collaborative approach indeed facilitates the employees in concluding the conflicts in the business. The particular approach is also known as the confronting or the problem solving approaches. Through the involvement of the Win-Win approach, the both parties obtain mutually beneficial outcomes. Raco and Lin (2012) has identified that the problem solving approach provide adequate opportunities in evaluating the underlying concerns of the adversary along with identifying an alternative solution which would meet each partys concerns in an effectual manner. By analyzing the article reviewed in the assignment 3, it can be assessed that the collaborating approaches indeed facilitates in leading to solving the actual problem along with reinforcing mutual understanding, trust, and respect. On the other hand, the particular process would be able to provide the good reputation of a good negotiator to the employees engaged in the conflicts. However, the author has also discussed several facts for obtaining the proper outcome of collaborating approach. For example, the employees need to provide more efforts and more time compared to other approaches for obtaining the positive outcome from the particular process. Therefore, it can be identified that the implementation of the collaborating approach indeed facilitates the managers in reducing the conflicts in an appropriate manner. The managers need to acquire the particular process for managing conflicts with the employees at the workplace. According to the discussion made on the assignment 3, it can be highlighted that the open-minded discussion in needed for reducing the conflict in the business. Through the engagement of the open-minded discussion, employees could be able to express their feedbacks and suggestions to the higher management in the organization. Hence, the particular process would be able to reduce the conflicts among the employees and the management of the business (Montes , Rodrguez and Serrano 2012). Besides this discussed beneficial aspect, the open-minded discussion also allows the managers to identify the unique ideas of the employees for enhancing the business opportunities in an effectual manner. On the contrary, another article analyzed in the assignment 3 has discussed the new concepts of the conflicts stimulation. For executing a proper group discussion, the managers need to focus on the conflict stimulation (Spaho 2013). Due to the engagement of the conflicts stimulation, the team members could highlight different ideas and suggestions for the enhancement of the business. Therefore, it can be assessed that the managers need to focus on the discussed factors in order to reduce the conflicts in the business. In the assignment 3, both the articles have focused on the same discussion of conflict management. The articles have discussed that the managers should avoid the traditional forms of conflict management in the organization. The newer pers pectives of the conflict management have several beneficial aspects (Pazos 2012). On the other hand, the both articles discussed in the assignment 3 have focused on the importance of the interpersonal conflicts in the organization. With the involvement of the interpersonal conflicts, the managers would be able to highlight the key development ideas for the business. In this context, the managers of the organization need to focus on the constructive conflicts process for obtaining the enhanced participation in the process of decision-making. Besides this, the constructive conflicts would allow the manager in reducing the anxiety in the business. In most of the cases, the negative thoughts, emotions, and stress create difficulties for the employees in order to uphold their individual performance in the business. Hence, the manager needs to focus on analyzing the beneficial aspects of the constructive conflicts management model. On the contrary, another article has suggested focusing on the interpersonal conflict for obtaining the different benefits related to the growth of the business. Hence, the manager of the organization should implement the interpersonal conflicts at the workplace for creating the supportive work environment conducive to diffusing the conflicts in an efficient manner. Besides this, the impact of the interpersonal conflicts in dicates the cooperative working culture at the workplace. For analyzing the assignment 3, it can be assessed that the conflict management is one of the major parts of the organization, as it has several beneficial aspects and drawbacks of the business. Conclusion: It can be concluded that the conflict management has a huge importance in the business. Over the past few years, most of the organizations have been facing immense challenges to execute business in an efficient manner due to the conflicts happened among the employees and management. In this particular assignment, some recommendations on conflict management have been highlighted in context to the assessment 3. A different point of views of authors has been highlighted in this particular assignment relating to the research topic of conflict management. References: Condliffe, P., 2012.Conflict Management: a practical guide. LexisNexis Butterworths. de Wit, F.R., Greer, L.L. and Jehn, K.A., 2012. The paradox of intragroup conflict: a meta-analysis.Journal of Applied Psychology,97(2), p.360. Haynes, J.M., Haynes, G.L. and Fong, L.S., 2012.Mediation: Positive conflict management. Suny Press. Montes, C., Rodrguez, D. and Serrano, G., 2012. Affective choice of conflict management styles.International Journal of Conflict Management,23(1), pp.6-18. Pazos, P., 2012. Conflict management and effectiveness in virtual teams.Team Performance Management: An International Journal,18(7/8), pp.401-417. Pines, E.W., Rauschhuber, M.L., Norgan, G.H., Cook, J.D., Canchola, L., Richardson, C. and Jones, M.E., 2012. Stress resiliency, psychological empowerment and conflict management styles among baccalaureate nursing students.Journal of advanced nursing,68(7), pp.1482-1493. Powelson, J.P., 2015.The Institutions of Economic Growth: A Theory of Conflict Management in Developing Countries. Princeton University Press. Prenzel, P.V. and Vanclay, F., 2014. How social impact assessment can contribute to conflict management.Environmental Impact Assessment Review,45, pp.30-37. Raco, M. and Lin, W.I., 2012. Urban sustainability, conflict management, and the geographies of postpoliticism: a case study of Taipei.Environment and Planning C: Government and Policy,30(2), pp.191-208. Spaho, K., 2013. Organizational communication and conflict management.Management-Journal of Contemporary Management Issues,18(1), pp.103-118. Tjosvold, D., Wong, A. and Yi Feng Chen, N. (2014) Constructively Managing Conflicts in Organizations,The Annual Review of Organizational Psychology and Organizational Behavior, .Verma, V. (1998) Conflict Management, inProject Management Handbook. San Francisco: Josse Bass, pp. 353376. Wolff, S. and Yakinthou, C. eds., 2013.Conflict management in divided societies: theories and practice. Routledge. Wolff, S., 2013. Conflict management in divided societies: The many uses of territorial self-governance.International Journal on Minority and Group Rights,20(1), pp.27-50.

Well Go No More A

Well Go No More A-roving Essay In Well Go No More A-roving, Lord Byron proves the essentiality of ones youth in their life. Through this the poet brings in the universal concept of wear and tear to as he tries to make the reader realize that the end of youth can halt benefits for a person and one should enjoy it to the fullest. Byron provides illustrations of physical wear and tear in order to make the reader understand the bodily change that one goes through during old age. He writes For the sword outlives its sheath/ And the soul wears out the breast, and by this he suggests that the body is outworn by age and is no longer able to keep up. We will write a custom essay on Well Go No More A-roving specifically for you for only $16.38 $13.9/page Order now As one grows older, it is difficult for their body to hold on by time and such physical changes are inevitable. The poet has dramatized his approach here with these examples of wear and tear in order to lure the attention of the readers to understand these descriptions in depth. Byron tries to put forward to the reader that no one can dodge these corporal transformations and they are bound to happen eventually. Although bodily changes take place, Byron tries to make the reader be aware that the changes do not affect intangible things. Even though ones body may grow older and shrivelled, their thoughts and emotions do not deteriorate. However when he writes And the heart must pause to breathe,/ And love itself have rest, it gives the impression that although love and the emotional state of the heart can not be significantly altered, after a period of intense emotional upheaval one requires a rest. Byron also tries to tell the reader that as one grows, nothing stops for their growth. He writes And the moon be still as bright and through this the reader gets a sense that age can not stop the regular routine of nature and nature will just continue its usual activities. The poets use of melancholic tone indicates the reader that Byron must be mourning his lost youth. The loss of youth is just the more reason to enjoy it till it lasts. Byron writes Though the night was made for loving,/ And the day returns too soon,/ Yet well go no more a-roving and by this he is trying to make the reader recognize that ones youth is like the exciting night which through its loving is made to experience, explore and to enjoy. However its end can disturb this privilege one holds, leaving the person to weep for this loss. Byron tries to make the reader understand that although old age may not change the situation around one, it may affect things important to them, for e. g. even the love that has to eventually rest. One gets the sense that ultimately every object wears out its holder and this strikes the reader with the reality of life, which eventually also will finish off. The reader realizes that not only is youth an essential phase of their life but it is also the part that allows them the most benefits and opportunities, leaving one with the decision whether to enjoy them or not.

The Socioeconomic Structure of Europe

The Socioeconomic Structure of Europe Eric Hobsbawm, a British historian, categorizes the historians of the late nineteenth century into two groups. He is firm in his categorization to an extent that other historians refer to him as the leading light in a group of historians. There are those he says stick to their ideas.Advertising We will write a custom essay sample on The Socioeconomic Structure of Europe specifically for you for only $16.05 $11/page Learn More Of course, the debate is on what foundation the modern states were build. Another issue relates to states adopting either communistic or capitalistic ideologies. One group avers that politics forms the key to truths and myths that are to be uncovered and stated. One group is revolutionary and the other is reactionary. The latter is the one that looks backward with nostalgia while the former looks forward for explanations of the present and the future. Hobsbawm belongs to the revolutionary group. It should be noted that he is a staunch c rusader of the Marxist ideas. He even served in the world war, but claimed to have done nothing of importance. In fact, he regrets taking part in it. He is pro Stalin and Russian communist ideologies, though he represented Britain in the war. He believes in socialism and as much as it failed, he died holding onto the same. In his articles, he is wittily selective in his statistics. He mainly focuses on people with whom he shared opinions. In criticizing capitalism for example, he ponders why there is economic expansion that leads to massive unemployment. The expansions resulted from the technological innovations. This is very ironical from an economist’s perspective. With every available opportunity, he praised leaders with communist ideas, including O’Connell. He commends artists of the time who were fully committed to revolutionary politics. Though temporary, he gave them much coverage. At the same time, he avoided mentioning the reactionary artists. Any other radica l reformers who criticized socialism were on his receiving end. Eric Hobsbawm clearly illustrates that the socioeconomic structure of Europe was very different in both halves of the nineteenth century. The two halves followed two different paths, but shared one common factor. They were both developed through capitalism and were centered on bourgeois liberalism. These processes were influenced by what he refers to as dual revolution. This is the French revolution and the British industrial revolution. Britain took the first step towards industrialization. This was directed by its political system that leaned towards individuals profiting from an expanded economy. Britain had moved from peasant agrarianism where among other structures land was jointly cultivated. This implies that commercial agriculture was practiced. The growth of industries pushed the economy to transcend into capitalism late in the century, which was around 1799.Advertising Looking for essay on history? Let 's see if we can help you! Get your first paper with 15% OFF Learn More The technological advancement played a great role in this transformation. As much as this economic transition led to increased profitability among investors, it did not do any good to employees. The labor market was still oppressed with excessive working conditions and too much overworking. Overtime was not duly accounted for in terms of rewards. In short, the labor force was not paid adequately. This would later lead to the rise of activism. In France, the French revolution, according to Hobsbawm, was a struggle among and the peasants, aristocrats and the middle class. The development of the revolution in different stages was a manifestation of a struggle between liberalism and socialism. The attempt by the aristocrats to recapture the state quickly degenerated into the urge to create a socialist economic state. He underlines that Napoleon had instituted measures and structures that led to the b ourgeois taking control, with its concomitants taking and giving loans. This type of an economy had the characteristics resembling those of a modern economy. To him, the bourgeois liberalism prevailed. Its success developed along with elements of subversion. Dual revolution modeled middle class liberals and created a few successful bourgeois. The radical ideas within states and societies created masterminded their collapse. Eric Hobsbawm looked at the political developments in Europe between 1870 and 1914, as politically opposite times. He observes that the hope that had already been achieved turned into trepidation. A period of unchallenged peace, dangerously giving way and the full rise of civil activism emerged. As this period progressed, fear griped the bourgeois. The increased actions of labor movements that rejected capitalism and the effects of the rising middle class resulted to a crisis. The competing interests among members of the social class did not serve any good. This was because there was still too much force to be dealt with outside the state. The first political class was built on very small bodies that were generally weak. Europe was also on the verge of dominating the world, though without confidence. The individual states had hidden competing interests. At the very end in 1914, the revolutionary political terrorists went on to start the First World War. Before the First World War, peace in Europe prevailed because of the balance of power. Each state had accumulated enough weapons in readiness for a large-scale war. This means that states were assured of mutual destruction.Advertising We will write a custom essay sample on The Socioeconomic Structure of Europe specifically for you for only $16.05 $11/page Learn More

Francis Bacon and the Essay Of Revenge

Francis Bacon and the Essay Of Revenge The first major English essayist, Francis Bacon  (1561-1626) published three versions of his Essayes or Counsels (1597, 1612 and 1625), and the third edition has endured as the most popular of his many writings. The Essayes, observes Robert K. Faulkner, appeals not so much to self-expression as to self-interest, and does so by supplying enlightened ways to satisfy ones interest. (Encyclopedia of the Essay, 1997) A notable jurist who served as both attorney general and Lord Chancellor of England, Bacon argues in his essay Of Revenge (1625) that the wild justice of personal revenge is a fundamental challenge to the rule of law. Of Revenge by Francis Bacon Revenge is a kind of wild justice; which the more mans nature runs to, the more ought law to weed it out. For as for the first wrong, it doth but offend the law; but the revenge of that wrong putteth the law out of office. Certainly, in taking revenge, a man is but even with his enemy; but in passing it over, he is superior; for it is a princes part to pardon. And Solomon, I am sure, saith, It is the glory of a man to pass by an offence. That which is past is gone, and irrevocable; and wise men have enough to do with things present and to come; therefore they do but trifle with themselves, that labor in past matters. There is no man doth a wrong for the wrongs sake; but thereby to purchase himself profit, or pleasure, or honor, or the like. Therefore why should I be angry with a man for loving himself better than me? And if any man should do wrong merely out of ill-nature, why, yet it is but like the thorn or briar, which prick and scratch, because they can do no other. The most tole rable sort of revenge is for those wrongs which there is no law to remedy; but then let a man take heed the revenge be such as there is no law to punish; else a mans enemy is still before hand, and it is two for one. Some, when they take revenge, are desirous the party should know whence it cometh. This is the more generous. For the delight seemeth to be not so much in doing the hurt as in making the party repent. But base and crafty cowards are like the arrow that flieth in the dark. Cosmus, duke of Florence, had a desperate saying against perfidious or neglecting friends, as if those wrongs were unpardonable; You shall read (saith he) that we are commanded to forgive our enemies; but you never read that we are commanded to forgive our friends. But yet the spirit of Job was in a better tune: Shall we (saith he) take good at Gods hands, and not be content to take evil also? And so of friends in a proportion. This is certain, that a man that studieth revenge keeps his own wounds green, which otherwise would heal and do well. Public revenges are for the most part fortunate; as that for the death of Caesar; for the death of Pertinax; for the death of Henry the Third of France; and many more. But in private revenges it is not so. Nay rather, vindictive persons live the life of witches; who, as they are mischievous, so end they infortunate.

The State of Sovereign Wealth Funds Essay Example | Topics and Well Written Essays - 2000 words

The State of Sovereign Wealth Funds - Essay Example The commonly utilised value for price volatility is the percentage, which serves to eliminate the problems presented by changing currency values, when presenting volatility of commodities available globally. In most circumstances of international commodity price volatility, economists normally utilise a common currency, like the dollar to represent volatility. International businesses, however, present the calculation of volatility in terms of percentage of a specified figure. Volatility normally revolves around measurement of dispersion observed in numerous securities or market index. The calculation of volatility enables economists to predict the amount of uncertainty existing for given commodities. The uncertainties are normally presented by notable changes observed in the commodity prices. These changes are utilised in making predictions concerning stability of stocks and expected changes, based on previous observations. Volatility represents commodity risk and high volatility in dicates high investment risk in such stocks. The risk is normally presented by anticipated change, with stocks having high volatility being marked as expected to have dramatic price adjustments over a short duration. Price fluctuations remain a fundamental constituent of calculated volatility values established by economist. Stable commodities customarily experience minimal fluctuations; hence lower volatility for such commodities. Stability in commodity prices does not occur often within the free market economies as demand and supply change continuously. Expanding boundaries of national economies dissolving into the global economy have contributed to increased difficulty in management of commodity price volatility. Technological advancements have contributed significantly towards a global shift in the living standards, consequently resulting in increased price volatility. Within the global economy, price control continues to become increasingly difficult because of the existing pol icy discrepancies among different countries. The concept of free market has continued to create an unprecedented, uncontrolled flux in pricing within the global market. Increases in commodity demand against the available supply continue to have a negative impact on the prices, causing increased price volatility. Investors, within the business world, commonly rely on volatility when making numerous investment decisions. Through volatility the individuals can make estimations of expected returns on investments, based on security volatility. Management of volatility remains a fundamental element for investors seeking success in the constantly changing commodity prices in the free market. Though volatility could be utilised in making future predictions, numerous changes could be initiated in the management process of volatility, consequently avoiding the adverse effects created by high volatility. The business decisions made following estimations from volatility consist of numerous assu mptions. One major assumption in estimating volatility remains the unchanging business environment, enabling constant business conditions. Though calculations remain accurate, as they are based on current market prices, the prevailing business conditions resulting to the result cannot remain fixed. Governments, for example, might introduce regulations and policies seeking to protect investors from adverse effects of volatility. Changes in the business

Water Transfer In Poor Countries Assignment Example | Topics and Well Written Essays - 3000 words

Water Transfer In Poor Countries - Assignment Example Not only a management that is expert in the level is required but along with it there is a need to use alternatives water resources for the future water use that is affordable and even if it is not, then external funding for the transfer of the water is required. It tells us that sea water can be used in the developing countries for the different water use requirements. Although the water treatment for the sea water is not an easy task, but still it can be used as an alternative water source. Still the transferring of sea water to different parts of the developing countries could be costly, and extensive water supply engineering is required and a need to manage these water storage and transport facilities is a matter of cost and debate. National geographic society states that if water source is not within one kilometer range then per capita consumption drops to 5 liters/person (National Geographic News, 2003). The sea water hence could be used as a water resource in the developing co untries, but along with this intervention, the need to recycle the sea water must also be taken into consideration. Specially for domestic purposes it could be used as a

Functional Family Therapy (FFT) Essay Example for Free

Functional Family Therapy (FFT) Essay Functional Family Therapy (FFT) is a family-based prevention and intervention program that deals with such juvenile problems as child abuse and neglect, early sexual involvement, alcohol and drug abuse, youth conflict and aggression. Since these problems originate within the family structure in many cases, FFT program refers to every member of the family in order to achieve the highest treatment results. It is important to emphasize that FFT recognizes that both positive and negative behaviors influence and are influenced by multiple relational systems.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The main positive influence of FFT is that it develops inner strengths and sense of being of each member of the family. In such a way, family members are united under the common viewpoints on life, activities and goals. As a result, the situation within the family might be improved due to different intervention and assessment phases. Functional Family Therapy consists of three specific intervention phases: engagement and motivation, behavior change, and generalization. Each of these phases has certain goals, risk and protective factors, assessment focus and therapist/interventional skills that might be related to each of the phases. The first phase – engagement and motivation – helps to increase family’s hope and expectation of change, improve trust between therapist and family, and reduce negativity within families and toward the community as well as build respect to individual values and differences. During the second phase – behavior change – therapists develop long-term plans of behavior change that can fit to certain culture, family situation and understand the unique characteristics of each family member. Cognitive, interactive and emotional components are included into behavior change phase. The main focus of this phase is to improve the quality of relations skills because of the risks dealing with poor parenting and communication skills, negativity and blaming. Thus, FFT program gives an opportunity to model the change plan, train each member and control the whole process. Finally, generalization phase helps to unite the families with available community resources in order to prevent relapses in the behavior change. It is directed to improve the ability of the family to affect the multiple systems like school, juvenile justice system, community, etc.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Since FFT program addresses each member of the family where there are problems with juveniles, it helps to identify the core reasons of juvenile behavior change which in most cases happen within the family. Parents learn to understand their children, but most important to listen to their thoughts, opinions, problems, and many other issues which are important for juveniles, but might be neglected by the adults. At the same time children learn to understand the behavior of their parents, to respect and listen to the adults as well as improve their relations with the families, school and community as a whole. Due to FFT program recidivism rates greatly decreased in the recent time. Certainly, there is no single treatment which is commonly accepted and can help all juveniles and heir families to solve the problems or prevent them. However, FFT I is considered on of the best way to prevent juvenile delinquency since it does not only solve the problem itself, but addresses the core reason for this problem to occur – the juvenile family and community he/she lives in.

A Discussion of the Negative Impact of NAFTA on North America Essay

A Discussion of the Negative Impact of NAFTA on North America The North American Free Trade Agreement was passed in November of 1993 and went into effect on January 1, 1994. The agreement aimed to eliminate tariffs between Canada, Mexico and the United States, leading to the eventual creation of free trade among these three countries by the year 2008. Supporters of NAFTA billed the agreement as a wonderful opportunity to create jobs, stimulate competition, and free North America from harsh and often unfair tariffs that restricted trade between the three nations. From a theoretical perspective, NAFTA appeared to have the makings of a highly beneficial relationship between Canada, Mexico and the United States. Despite the great expectations of NAFTA, it seems the agreement has fallen short of its promise to increase the economic and social livelihood of these countries. In this paper I will discuss the economic and social impact of NAFTA on Mexico, Canada and the United States. I will show how free trade has damaged both the Canadian and Mexican economies because it has made the success of both countries too dependant on the success of the United States. In addition, while NAFTA certainly benefits a portion of the populations in Canada, Mexico and the US, it harms another, namely the working population. This harm is apparent in the loss of jobs for this portion of the population along with the widening wealth gaps that are apparent in all three countries. In sum, NAFTA must be reformed in a way that gives as much emphasis on the importance of labor and social development as it does to the protection of investors, finance and big business. Free Trade Creates Dependencies Both Canada and Mexico are very diff... ...dden Costs: Trade agreement results in job losses, growing inequality, and wage suppression for the United States. Economic Policy Institute. 2001. 2.) Salas, Carlos. The Impact of NAFTA on Wages and Incomes in Mexico. La Red de Investigadores y Sindicalistas Para Estudios Laborales (RISEL). 2001. 3.) Campbell, Bruce. False Promises: Canada in the Free Trade Era. Canadian Centre for Policy Alternatives. 2001. 4.) Faux, Jeff. NAFTA at Seven: Its Impact on Workers in all Three Nations. Economic Policy Institute. 2001. 5.) Arroyo, Alberto. NAFTA and the Mexican Economy. The Mexican Action Network on Free Trade (RMALC). http://www.developmentgap.org/rmalecon.html 6.) World Bank. Inequality in Latin America and the Caribbean. World Bank: Social/Economic Policy. October 8, 2003.

Financial Analysis- for Royal Dutch Shell

Royal Dutch Shell, Plc. (NYSE: RDS. A) Table of Contents Executive Summary3 Introduction4 Financial Ratio Analysis5 Liquidity6 Asset Management7 Debt Management8 Profitability10 Market Value12 Cash Flow and Growth Analysis14 Capital Structure Estimation16 Weighted Average Cost of Capital17 Cost of Debt17 Cost of Equity – CAPM18 Cost of Equity – DCF19 Cost of Equity – BYPRP19 WACC20 Project Cash Flow Estimation21 Capital Budgeting Analysis23 Sensitivity Analysis24 Scenario Analysis27 Conclusion28 References29 Appendix30Executive Summary This report analyzes Royal Dutch Shell Plc. (RDS. A on NYSE) financial status, history, market space, and growth opportunities. Royal Dutch Shell Plc. (Shell) is one of the world’s largest corporations with annual revenue of $470 billion for fiscal year 2011. When analyzing a company it is vital to ensure all aspects of the firm’s financial standing are stable, this is essential to guarantee its ability to take upon n ew major projects, such as the one being proposed at this time and evaluated in this report.This report intends to evaluate the possibility of Shell undertaking a project that requires a total initial investment of $580 million in fixed assets as wells as operation expenses of $38 million, for a total of $618 million is startup costs. This report illustrates Shell’s financial standing through, ratio analysis, cash flow analysis, and detailed capital budgeting analysis to help calculate Shell’s capacity to accept the proposed project. The life of the project will be eight years and expected to have a growth rate of 8. 5%.The Net Present Value of the project is approximately $284 million and is expected to pay for itself in approximately 4. 74 years according to discounted payback calculations (detailed in report). Introduction Royal Dutch Shell plc operates as an oil, gas and energy company that explores for and extracts hydrocarbons worldwide. Royal Dutch Shell also co nverts natural gas to liquids to provide cleaner-burning fuels; markets and trades natural gas; extracts bitumen from mined oil sands and convert it to synthetic crude oil; and generates electricity from wind energy.In addition, it converts crude oil into a range of refined products, including gasoline, diesel, heating oil, aviation fuel, marine fuel, lubricants, bitumen, sulphur, and liquefied petroleum gas (LPG); and produces and sells petrochemicals for industrial use. The company holds interests in approximately 30 refineries; 1,500 storage tanks and 150 distribution facilities; and fuels retail network of approximately 43,000 service stations under the Shell brand name. Royal Dutch Shell plc also markets its products under the Shell V-Power and Shell FuelSaver brand names.In addition, the company offers lubricants for use in passenger cars, trucks, and coaches, as well as for industrial machinery in manufacturing, mining, power generation, agriculture, and construction industri es. Royal Dutch Shell plc sells fuels, specialty products, and services to commercial customers; offers fuel for approximately 7,000 aircraft every day at 800 airports in 30 countries; offers liquefied petroleum gas and related services to retail, commercial, and industrial customers for cooking, heating, lighting, and transport applications; provides transport, industrial, and heating fuels; and supplies approximately 11,000 tones of itumen products. Royal Dutch Shell plc is headquartered in The Hague, Netherlands and employs roughly 23,000 people worldwide. (Royal Dutch Shell, 2012). Financial Ratio Analysis The following table illustrates Royal Dutch Shell’s financial ratios analysis and will assist in the understanding of the current and (estimated) future status of the organization. The ratios will allow for a general interpretation of the firm’s strength and ability to take on outside projects. The table exemplifies the liquidity, asset management, debt managemen t, profitability, and market value standpoint of the firm.Examining Royal Dutch Shell’s financial ratios presents a positive outlook for the company, in comparison to the industry average Shell is performing exceptionally well. Royal Dutch Shell, Plc. (NYSE: RDS. A) Financial Ratios| Liquidity Ratios| 12/31/2011| 12/31/2010| 12/31/2009| 12/31/2008| 12/31/2007| Average| Industry| Comments| Quick Ratio| 0. 85| 0. 8| 0. 79| 0. 9| 0. 84| 0. 84| 1. 1| Healthy| Current Ratio| 1. 17| 1. 12| 1. 14| 1. 1| 1. 15| 1. 136| 1. 5| Healthy| | | | | | | | | | Asset Management| 12/31/2011| 12/31/2010| 12/31/2009| 12/31/2008| 12/31/2007| Average| Industry| Comments| Inventory Turnover| 13. | 10. 84| 9. 77| 15. 56| 10. 84| 12. 12| 14. 9| OK| Fixed Assets Turnover| 3. 29| 2. 76| 2. 34| 4. 28| 3. 51| 3. 24| 1. 3| Healthy| Total Asset Turnover| 1. 45| 1. 23| 0. 99| 1. 66| 1. 41| 1. 35| 0. 6| Healthy| | | | | | | | | | Debt Management| 12/31/2011| 12/31/2010| 12/31/2009| 12/31/2008| 12/31/2007| Ave rage| Industry| Comments| Debt Ratio| 17. 90%| 22. 80%| 20. 20%| 15. 30%| 12. 60%| 17. 76%| 51. 98%| Healthy| Net Fixed Debt Ratio| 15. 10%| 18. 70%| 18. 30%| 9. 70%| 8. 90%| 14. 14%| 27. 38%| Healthy| Debt to Equity Ratio| 21. 70%| 29. 61%| 25. 36%| 18. 06%| 14. 37%| 21. 82%| 42. 69%| Healthy| | | | | | | | | |Profitability Ratios| 12/31/2011| 12/31/2010| 12/31/2009| 12/31/2008| 12/31/2007| Average| Industry| Comments| Net Profit Margin on Sales| 6. 32%| 5. 47%| 6. 88%| 3. 32%| 10. 19%| 6. 44%| 6. 50%| Healthy| Basic Earning Power | 16. 12%| 10. 96%| 7. 19%| 18. 00%| 18. 77%| 14. 21%| 6. 80%| Healthy| ROA % (Net)| 9. 26%| 6. 55%| 4. 36%| 9. 50%| 12. 41%| 8. 42%| 10. 15%| Healthy| ROE % (Net)| 19. 47%| 14. 15%| 9. 49%| 20. 86%| 27. 28%| 18. 25%| 14. 24%| Healthy| | | | | | | | | | Market Value Ratios| 12/31/2011| 12/31/2010| 12/31/2009| 12/31/2008| 12/31/2007| Average| Industry| Comments| Price per Earning Ratio| 7. 4%| 10. 14%| 14. 24%| 6. 06%| 8. 32%| 9. 28%| 7. 86| Healthy| Divid end Yield| 4. 60%| 5. 03%| 5. 52%| 5. 89%| 3. 34%| 4. 88%| 4. 76%| Average| Book Value per Share| $ 54. 98 | $ 47. 85 | $ 45. 05 | $ 42. 02 | $ 38. 61 | $ 45. 70| $ 46. 43| Average| Earnings per Share| $ 4. 98 | $ 3. 28 | $ 2. 04 | $ 4. 27 | $ 5. 00 | $ 3. 91| $ 3. 26| Average| Table 1 – Financial Ratio Overview Liquidity Ratios Liquidity Ratios| 12/31/2011| 12/31/2010| 12/31/2009| 12/31/2008| 12/31/2007| Average| Industry| Comments| Quick Ratio| 0. 85| 0. 8| 0. 79| 0. 9| 0. 84| 0. 84| 1. | Healthy| Current Ratio| 1. 17| 1. 12| 1. 14| 1. 1| 1. 15| 1. 136| 1. 5| Healthy| Figure 1 –RDS. A Liquidity Ratio Trend The current ratio measures a company's ability to pay short-term debts and other current liabilities by comparing current assets to current liabilities. The ratio illustrates a company's ability to remain solvent. Shell’s five year current ratio average is 1. 13, . 37 below the industry average, and their quick ratio is . 84, . 26 below the industry average. Shells liquidity ratios are both below the industry average and illustrate their healthy status and continued strength for liquidity.Asset Management Ratios Asset Management| 12/31/2011| 12/31/2010| 12/31/2009| 12/31/2008| 12/31/2007| Average| Industry| Comments| Inventory Turnover| 13. 6| 10. 84| 9. 77| 15. 56| 10. 84| 12. 12| 14. 9| OK| Fixed Assets Turnover| 3. 29| 2. 76| 2. 34| 4. 28| 3. 51| 3. 24| 1. 3| Healthy| Total Asset Turnover| 1. 45| 1. 23| 0. 99| 1. 66| 1. 41| 1. 35| 0. 6| Healthy| | | | | | | | | | Figure 2 –RDS. A Asset Management Ratio Trend Asset Management ratios give an indicator of efficiency (ability to move inventory and generate sales) within a company, particularly ones with tangible goods as compared to its competitors.You can see from figure 2 that in comparison to the industry average Shell is healthy and efficient in their assets and inventory turnover. Figure 2 reflects a spike in Shells inventory turnover in 2008; however this can also be attrib uted to the economic downturn in 2008. Even with the spike Shells average is still on par with the industry and exemplifies a healthy asset management turnover. Debt Management Ratios Debt Management| 12/31/2011| 12/31/2010| 12/31/2009| 12/31/2008| 12/31/2007| Average| Industry| Comments| Debt Ratio| 17. 90%| 22. 80%| 20. 20%| 15. 0%| 12. 60%| 17. 76%| 51. 98%| Healthy| Net Fixed Debt Ratio| 15. 10%| 18. 70%| 18. 30%| 9. 70%| 8. 90%| 14. 14%| 27. 38%| Healthy| Debt to Equity Ratio| 21. 70%| 29. 61%| 25. 36%| 18. 06%| 14. 37%| 21. 82%| 42. 69%| Healthy| Times Interest Earned| 41. 54| 36. 49| 39. 78| 33. 38| N/A| 37. 79| 25. 61| Healthy| | | | | | | | | | Figure 3 –RDS. A Debt Management Ratio Trend Royal Dutch Shell’s Debt Management ratios indicate that it has been less aggressive with using debt to finance growth than the majority of its competitors in the Oil & Gas industry.Across the board Shell has a lower debt ratio than their competitors; the resultant effect on earnings would be less volatile than related companies. The debt ratio is a solvency ratio that examines how much of a company's assets are made of liabilities. A debt ratio of 20 percent means that 20 percent of the company is liabilities. A high debt ratio can be negative; this indicates the shareholder equity is low and potential solvency issues. A low debt to equity ratio indicates lower risk, because debt holders have less claims on the company's assets. Overall Royal Dutch Shell is in an excellent Debt Management position.Figure 4 –RDS. A Debt Management Ratio (TIE) Trend Times interest earned or Interest Coverage Ratio is a key metric to determine the credit worthiness of a business. Essentially, the number represents how many times in the last 12 months' EBIT (earnings before interest and taxes) would have covered the past 12 months' interest expenses. Royal Dutch Shell’s times interest earned ratio has a four year average of 37. 79, which is 12. 18 points supe rior than the industry average which rests at 25. 61. This presents Shell in a healthy credit worthiness business. Profitability RatiosProfitability Ratios| 12/31/2011| 12/31/2010| 12/31/2009| 12/31/2008| 12/31/2007| Average| Industry| Comments| Net Profit Margin on Sales| 6. 32%| 5. 47%| 6. 88%| 3. 32%| 10. 19%| 6. 44%| 6. 50%| Healthy| Basic Earning Power Ratio| 16. 12%| 10. 96%| 7. 19%| 18. 00%| 18. 77%| 14. 21%| 6. 80%| Healthy| ROA % (Net)| 9. 26%| 6. 55%| 4. 36%| 9. 50%| 12. 41%| 8. 42%| 10. 15%| Healthy| ROE % (Net)| 19. 47%| 14. 15%| 9. 49%| 20. 86%| 27. 28%| 18. 25%| 14. 24%| Healthy| | | | | | | | | | Figure 5 –RDS. A Profitability Ratio Trend When it comes to profitability, Royal Dutch Shell is on average with its competitors.Net Profit Margin is the net earnings of a company / sales. This profitability ratio compares the percent of net earnings from a company's sales. Royal Dutch Shell’s Net Profit is on par with other companies in the Oil ; Gas industry, w hich means it has an equal ability spend assets on business operations when compared to its competitors. Basic earning power shows the raw earning power of a firm’s assets before taxes and other leverages. This will help the firm understand their return on its assets. Return on Assets or ROA, shows the rate of return (after tax) being earned on all of the firm's assets regardless of financing structure.It is a measure of how efficiently the company is using all stakeholders' assets to earn returns. Royal Dutch Shell has a five year average of 8. 42%, which is 1. 73% lower than the industry average, however still in the healthy zone. Return on equity or ROE is used to measures the rate of return on the money invested by common stock owners and retained by the company from previous profitable years and shows how well a company uses investment funds to generate growth. Royal Dutch Shell’s Return on Equity indicates that it is able to reinvest its earnings more efficiently than the majority of its competitors in the Oil ; Gas industry.Typically, companies that have higher return on equity values are more attractive to investors and can provide for better growth and profitability. Market Value Ratios Market Value Ratios| 12/31/2011| 12/31/2010| 12/31/2009| 12/31/2008| 12/31/2007| Average| Industry| Comments| Price per Earning Ratio| 7. 64%| 10. 14%| 14. 24%| 6. 06%| 8. 32%| 9. 28%| 7. 86%| Healthy| Dividend Yield| 4. 60%| 5. 03%| 5. 52%| 5. 89%| 3. 34%| 4. 88%| 4. 76%| Average| Payout Ratio| 5. 46%| 4. 76%| 8. 41%| 3. 62%| 2. 87%| 5. 02%| 2. 67%| Healthy| Book Value per Share| $ 54. 98 | $ 47. 85 | $ 45. 5 | $ 42. 02 | $ 38. 61 | $ 45. 70| $ 46. 43| Average| Earnings per Share| $ 4. 98 | $ 3. 28 | $ 2. 04 | $ 4. 27 | $ 5. 00 | $ 3. 91| $ 3. 26| Average| Figure 6 –RDS. A Market Value Ratio Trend Earnings per share (EPS) is the amount of income that â€Å"belongs† to each share of common stock. An important tool for investors, EPS is often used in determining the value of a stock. As noted above, Royal Dutch Shell is on average with other firms in its industry. Book value per share has slowly been on a rise over the past 5 years, from $38. 61 in 2007 up to 54. 8 in 2011. Book value is a company's net asset value; a relatively high book value per share in relation to stock price often occurs when a stock is undervalued and might be an attractive buy. Figure 7 –RDS. A Market Value Ratio Trend The price per earnings ratio (PE) is the measure of the share price relative to the annual net income earned by the firm per share. PE ratio shows current investor demand for a company share. A high PE ratio generally indicates increased demand because investors anticipate earnings growth in the future. Royal Dutch Shell has a five year average of 9. 8% PE as compared to the industry average of 7. 86%; Shell is higher by 1. 42%. The dividend yield is the sum of a company's annual dividends per share, divided by the current price per share. When investing in companies an investor should look for a stable and high dividend yield; this can insure an investor a secure a relatively stable cash flow. Royal Dutch Shell's dividend yield is on par with other companies. As indicated by the payout ratio, Royal Dutch Shell’s earnings support the dividend payouts more than others in the same industry group. Cash Flow and Growth AnalysisRoyal Dutch Shell Cash Flow $ Million| 2011| 2010| 2009| 2008| 2007| Cash and Cash Equivalents at January 1| $ 13,444 | $ 9,719 | $ 15,188 | $ 9,656 | $ 9,002 | Net  Cash  from  Operating  Activities| $ 59,393 | $ 42,712 | $ 30,731 | $ 69,787 | $ 53,324 | Net Cash used in Investing Activities| $ (20,443)| $ (21,972)| $ (26,234)| $ (28,915)| $ (14,570)| Net Cash used in Financing Activities| $ (18,131)| $ (1,467)| $ (829)| $ (9,394)| $ (19,393)| Net (Decrease)/increase, Cash & Cash Equivalents| $ (2,152)| $ 3,725 | $ (5,469)| $ 5,532 | $ 654 | Cash & Cash Equivalents a t  December  31| $ 11,292 | $ 13,444 | $ 9,719 | $ 15,188 | $ 9,656 | Figure 8 –RDS. A Cash Flow Trend Information used and interpreted from the Royal Dutch Shell Investors Handbook illustrates that Royal Dutch Shell decreased the amount spent on operations from 2008 to 2009; this can most likely be due to the economic downturn. Conversely, from 2009 to 2011 there has been a steady increase in cash flows for operations.When evaluating charts in figure 9 and 10 you can see that along with a decrease in cash flows from 2008 – 2009 so did Shell have a decrease in revenues, net income and Earnings per share. From 2009 – 2011 all areas show a steady and healthy growth. Growth Analysis| | | | | | Report Date| 12/31/2011| 12/31/2010| 12/31/2009| 12/31/2008| 12/31/2007| Revenue| $ 470,171 | $ 368,056 | $ 278,188 | $ 458,361 | $ 355,782 | Net income for period| $ 31,185 | $ 20,474 | $ 12,718 | $ 26,476 | $ 31,926 | Net earnings per share-diluted| $ 4. 97 | $ 3. 28 | $ 2. 04 | $ 4. 26 | $ 4. 9 | Total assets| $ 345,257 | $ 322,560 | $ 292,181 | $ 282,401 | $ 269,470 | Total stockholders' equity| $ 171,003 | $ 149,780 | $ 138,135 | $ 128,866 | $ 125,968 | Net Cash ; Equivalents Flow| $ 11,300 | $ 13,400 | $ 9,700 | $ 15,200 | $ 9,560 | Figure 9 –RDS. A Growth Analysis Trend Figure 10 –RDS. A Growth Analysis Trend Capital Structure Estimation When performing the Capital Structure Estimation, the assessor can exam how the combination of equity capital and debt capital that a firm uses to finance its assets can have a positive or negative affect on the firm. The capital structure is how a firm finances its overall operations and growth by using different sources of funds. Royal Dutch Shell’s use of debt and ommon stock (Royal Dutch Shell does not issue preferred stock) impacts the open market and, as a result, the firm’s cost of capital is impacted in both constructive and/or destructive ways. RDS. A Market Value Method / Weights| Debt| $ 174,250,000,000. 00 | 27. 71%| Equity| $ 454,619,800,000. 00 | 72. 29%| | | | RDS. A Book Value Method / Weights| Debt| $ 174,250,000,000. 00 | 50. 47%| Equity| $ 171,000,000,000. 00 | 49. 53%| Figure 11 –RDS. A Capital Structure Estimation By examining the Balance Sheet and the numbers in figure 11 you can see that Royal Dutch Shell, based on market value, has a capital structure of 27. 1% debt and 72. 29% equity in the form of common stock totaling a market capitalization of $454 billion. When utilizing the book value, the weighing scale becomes 50. 47% debt and 49. 53% equity with a value of $171 billion. Weighted Average Cost of Capital (WACC) Knowing a firm’s weighted average cost of capital is crucial when considering any new projects. A firm's WACC is the overall required return on the firm as a whole and, as such, it is often used internally by company directors to determine the economic feasibility of expansionary opportunities and mergers. G enerally speaking, a company’s assets are financed by either debt or equity.WACC is the average of the costs of these sources of financing, each of which is weighted by its respective use in the given situation. The weighted average can show how much interest the company has to pay for every dollar it finances. This section of the report will determine Royal Dutch Shell’s weighted average cost of capital. In determining the firm’s factor cost of common equity, the average of three methods will be utilized; Capital Asset Pricing Modem (CAPM), Discounted Cash Flow (DCF), and bond-yield-plus-risk-premium (BYPRP). Calculating the cost of debt (after tax) is figured by using the corporate tax rate and the cost of debt (Kd) which will be based on Royal Dutch Shell’s bond rating. Cost of DebtRoyal Dutch Shell’s after-tax cost of debt is calculated at 2. 30%. The calculation was determined using Shells corporate AA 10 year bond rating market value. RDS. A Cost of Debt| RDS. A 10 year Bond Rating| AA|   | Cost of Debt| 2. 43%|   | Risk Free Rate| 1. 62%|   | After Tax Cost of Debt| 2. 30%| Kd(1-T)| Corporate Tax Rate| 41. 85%|   | Figure 12 –RDS. A Cost of Debt Cost of Equity – CAPM Capital Asset Pricing Model (CAPM) is a model that describes the relationship between risk and expected return and that is used in the pricing of risky securities. The general idea behind CAPM is that investors need to be compensated; this is calculated by the CAPM.The time value of money is represented by the risk-free (rf) rate in the formula and compensates the investors for placing money in investments over a period of time. The other half of the formula represents risk; this is calculated by taking a risk measure (beta) that compares the returns of the asset to the market over a period of time and to the market premium (Rm-rf) or Market risk premium (MRP). Figure 13 illustrates the outcome of the calculations and that Royal Dutch Shell’s CAPM is 10. 01%. RDS. A Cost of Equity CAPM| Formulated by: Rs = Rf + ba * MRP| |   |   | Risk Free Rate (Rf)| 1. 62%| Yahoo Finance U. S. Treasury Bond Rate| Market Risk Premium or (Rm-rf)| 6. 50%| Current Rate November, 2012| Beta (ba)| 1. 29%| E-Trade Financial| CAPM of RDS. A| 10. 01%|   | Cost of Debt (Kd)| 2. 43%|   |After Tax Cost of Debt| 2. 30%|   | Figure 13 –RDS. A Cost of Equity Cost of Equity – DCF The Discounted Cash Flow or DCF method uses future  free  cash flow projections and discounts them to arrive at a present value, which is used to evaluate the potential for investment. Figure 14 illustrates a breakdown of how the discounted cash flow is calculated. The growth rate (g) is the average of three outside estimations. After the calculation is computed, the cost of equity is equal to 11. 83%. RDS. A Cost of Equity DCF| Formulated: Rs = (D1/Po)+g so D1= Do(1+g) so (((Do(1+g)/Po)+g)|   | Rs = (((3. 42(1+6. 42%)/67. 02)+6. 42%)| | Average| E-Trade| Yahoo| Y-Charts| Growth Rate (g)| 6. 42%| 6. 80%| 6. 12%| 6. 35%| Dividend (Do)| 3. 42| Y-Charts| Stock Price (Po)| 67. 02| Current Rate November 2012| Rs = 11. 83%| Figure 14 –RDS. A Cost of Equity Cost of Equity – BYPRP Bond yield plus risk premium method is used to calculate cost of common equity for a firm. Figure 15 shows the calculation, the after tax cost of debt plus bond risk premium rate; which calculates to a cost of equity equal to 8. 80%. RDS. A Cost of Equity BYPRP| | Rs = BY + MRP| | RDS. A After Tax Cost of Debt (BY)| 2. 30%| Shell Investors Handbook| Bond Market Risk Premium (MRP)| 6. 50%| Current Rate November, 2012|   | Rs= 8. 80%|Figure 15 –RDS. A Cost of Equity Weighted Average Cost of Capital – WACC The WACC equation  is the cost of each capital component  multiplied by its proportional weight. To calculate the WACC we first take the average of the CAPM, DCF and BYPRP methods which is calculated in fig ure 16. RDS. A Average Cost of Equity| | CAPM| DCF| BYPRP| Average| Royal Dutch Shell | 10. 01%| 11. 83%| 8. 80%| 10. 21%| Figure 16 –RDS. A Average Cost of Equity Royal Dutch Shell has no preferred stock, thus weight of preferred stock (Wp) is equal to 0%. Figure 17 breaks down the full calculation of the Weighted Average Cost of Capital calculation and the defined values.Using the Weight of Equity and Weight of Debt calculated from the Capital Structure Estimation in figure 11 we can conclude that Royal Dutch Shell’s WACC is equal to 8. 28%. Royal Dutch Shell Plc WACC | WACC formulated: WACC = Ws*Rs + Wd*Rd*(1-Tax Rate) + Wp*Rp. | Ws| 72. 29%| | Weight of Equity (Common Stock)| Wd| 27. 71%| | Weight of Debt| Wp| 0. 00%| | Weight of Preferred Stock| Rd| 2. 30%| | After Tax Cost of Debt| Tax rate| 41. 85%| | Corporate Tax Rate| Rs| 10. 21%| | Cost of Equity (Average)| Rp| 6. 50%| | Market Risk Premium| WACC| 8. 28%| | Weighted Average Cost of Capital| Figure 18  œRDS. A WACC Project Cash Flow Estimation Royal Dutch Shell has been approached with a proposition for a new project. The project will have a life span of eight years.The proposed project requires initial investment of $580 million to construct building and purchase equipment, and $38 million for shipping & installation fee for a total of $618 million is start-up costs. The fixed assets fall in the 7-year MACRS class and has a salvage value of fixed assets at $17 million. It is expected that the new product will sale 2,280,000 units in the first year and has an expected annual growth rate of 8. 5%. The sales price is $275 per unit and the variable cost is $205 per unit in the first year, but they should be adjusted accordingly based on the estimated annualized inflation rate of 2. 3%. The required net operating working capital (NOWC) is 11. 5% of sales.A detailed analysis and calculations for the cash flow estimation and depreciation details must be performed to ensure that Royal Du tch Shell can undertake such a project. Initial Inputs and Parameters for the Proposed Project Start-Up Cost| | $618,000,000 | | | | | | Net Operating WC/Sales| | 11. 5%| | Market value of equipment at Year 8| $17,000,000 | First year sales (in units)| | 2,280,000 | | Tax rate| | | 41. 85%| Sales price per unit| | $275. 00| | WACC| | | 8. 28%| Variable cost per unit| | $205. 00| | Inflation| | | 2. 3%| Non-variable costs| | $0| | Growth in Sales | | | 8. 5%| Figure 19 –RDS. A Project Parameters Depreciation and Amortization Schedule Year| | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | Total| | | | | | | | | | | | Rate| | 14. 0%| 25. 0%| 17. 0%| 13. 0%| 9. 0%| 9. 0%| 9. 0%| 4. %| 100%| Cost| | $86,520,000 | $154,500,000 | $105,060,000 | $80,340,000 | $55,620,000 | $55,620,000 | $55,620,000 | $24,720,000 | $618,000,000| Total| |   |   |   |   |   |   |   | $0 |   | Figure 20 –RDS. A Depreciation Schedule Figure 20 illustrates the depreciation schedule of eight years, outlined in the project parameters. Project Net Cash Flow Figure 21 –RDS. A Project Estimated Net Cash Flow Capital Budgeting Analysis Capital Budgeting Analysis is a process in which a business determines whether projects or investing in a long-term venture are worth pursuing. Ideally, businesses should pursue all projects and opportunities that enhance shareholder value.However, the amount of capital available at any given time for new projects is limited, capital budgeting analysis will help to determine if a project is feasible or not. Capital budgeting analysis can include net present value (NPV), internal rate of return (IRR), modified internal rate of return, profitability index (PI), payback period and discounted payback. In calculating if this project is possible or not we have determined the following budgeting analysis results in figure 22. RDS. A Budgeting Appraisal Results| Net Present Value (NPV)| $ 284,606,920. 00 | Internal Rate of Return (IRR)| 17. 0%| Modifi ed Internal Rate of Return (MIRR)| 13. 1%| Profitability Index (PI)| 1. 41 | Payback (Years)| 4. 74 | Figure 22 –RDS. A Project Analysis Results RDS. A Payback Calculation | 0| 1| 2| 3| 4| 5| 6| 7| 8|Net Cash Flow| (690,105,000)| 121,087,715 | 158,870,226 | 148,538,663 | 149,691,454 | 152,108,518 | 166,274,191 | 181,997,451 | 362,518,222 | Cumulative CF | (690,105,000)| (569,017,285)| (410,147,060)| (261,608,396)| (111,916,943)| 40,191,576 | 206,465,767 | 388,463,218 | 750,981,440 | Pay Back|   | 1. 00 | 1. 00 | 1. 00 | 1. 00 | 0. 74 | 0. 00 | 0. 00 | 0. 00 | After review of the budgeting analysis results we can conclude that the project should be undertaken. The Profitability Index (PI) is 1. 41, if the PI is greater than 1 than the project should be taken, additionally the net present value is positive, another good sign for accepting the project. The projects Internal Rate of Return (IRR) is 17. 0%, higher than Royal Dutch Shell’s WACC which is 8. 8%, this is an o ptimistic calculation for accepting the project. Finally, payback addresses the projects liquidity, shorter the payback the higher the liquidly and with a current estimation of 4. 74 years, the project is highly recommended. Sensitivity Analysis The Sensitivity Analysis is a modus operandi used to determine how  different values of an independent  variable will impact a particular dependent variable under a given set of assumptions. Within  specific  boundaries, the sensitivity analysis is very useful  when attempting to determine the impact  the actual  outcome of a particular variable will have  if it  differs from what was previously assumed.By creating a  given set of scenarios as, illustrated in figure 23, the analyst can determine how changes in one variable(s) will impact the  target variable. In this particular case the sensitivity analysis will determine how the net present value (NPV) of the proposed project will be affected by the modification of sev eral variables; these variables and the results can be examined in the following figures. The modified variables are sales price, variable costs, units sold, non-variable costs, weighted average cost of capital, corporate tax rate and start-up costs. For the purpose of this analysis the calculations were performed with a 10% and 20% deviation from the base in both a negative and positive trend. RDS. A Project Sensitivity Analysis Calculations Deviation| 1st YEAR UNIT SALES| | % Deviation| WACC| from| Units Sold| NPV| | from|   | NPV| Base Case| | $284,606,920| | Base Case| WACC| $284,606,920 | -20%| 1,824,000| 144,446,239 | | -20%| 6. 6%| 358,280,443 | -10%| 2,052,000| 214,526,580 | | -10%| 7. 5%| 320,454,423 | 0%| 2,280,000| 284,606,920 | | 0%| 8. 3%| 284,606,920 | 10%| 2,508,000| 354,687,261 | | 10%| 9. 1%| 250,612,056 | 20%| 2,736,000| 424,767,602 | | 20%| 9. 9%| 218,353,128 | % Deviation| VARIABLE COST| | % Deviation| SALES PRICE| from| Variable| NPV| | from| Sales| NPV| Base Case| Costs| $284,606,920| | Base Case| Price| $284,606,920| -20%| $164. 00| 723,298,488 | | -20%| $220. 0| (294,245,328)| -10%| 184. 50| 503,952,704 | | -10%| 247. 50| (4,819,204)| 0%| 205. 00| 284,606,920 | | 0%| 275. 00| 284,606,920 | 10%| 225. 50| 65,261,137 | | 10%| 302. 50| 574,033,045 | 20%| 246. 00| (154,084,647)| | 20%| 330. 00| 863,459,169 | % Deviation| NONVARIABLE COST| | % Deviation| TAX RATE| from| Fixed| NPV| | from|   | NPV| Base Case| Costs| $284,606,920| | Base Case| TAX RATE| $284,606,920 | -20%| $0| 284,606,920 | | -20%| 33. 5%| 353,919,217 | -10%| 0| 284,606,920 | | -10%| 37. 7%| 319,304,434 | 0%| 0| 284,606,920 | | 0%| 41. 8%| 284,689,652 | 10%| 0| 284,606,920 | | 10%| 46. 0%| 250,074,869 | 20%| 0| 284,606,920 | | 20%| 50. %| 215,460,087 | % Deviation| START-UP COSTS| from|   | NPV| Base Case| Start-Up Costs  | $284,606,920 | -20%| $ 494,400,000. 00 | 368,892,485 | -10%| $ 556,200,000. 00 | 326,749,703 | 0%| $ 618,000,000. 00 | 284,606,920 | 10%| $ 679,80 0,000. 00 | 242,464,138 | 20%| $ 741,600,000. 00 | 200,321,356 | Figure 23 –RDS. A Project Sensitivity Analysis Calculations Royal Dutch Shell Project Sensitivity Analysis Chart Figure 24 –RDS. A Proposed Project Sensitivity Analysis Chart Deviation| NPV at Different Deviations from Base| from| Sales| Variable|   | Non-variable|   |   |   | Base Case|Price| Cost/Unit| Units Sold| Cost| WACC| Tax Rate| Start-Up Costs| -20%| ($294,245,328)| $723,298,488 | $144,446,239 | $284,606,920 | $358,280,443 | 353,919,217 | 368,892,485 | -10%| (4,819,204)| 503,952,704 | 214,526,580 | 284,606,920 | 320,454,423 | 319,304,434 | 326,749,703 | 0%| 284,606,920 | 284,606,920 | 284,606,920 | 284,606,920 | 284,606,920 | 284,689,652 | 284,606,920 | 10%| 574,033,045 | 65,261,137 | 354,687,261 | 284,606,920 | 250,612,056 | 250,074,869 | 242,464,138 | 20%| 863,459,169 | (154,084,647)| 424,767,602 | 284,606,920 | 218,353,128 | 215,460,087 | 200,321,356 |   | | | | | | |   | Range| $1 ,157,704,497 | $877,383,134 | $280,321,363 | $0 | $139,927,315 | $138,459,130 | $168,571,129 | Figure 25 –RDS. A Proposed Project NPV and Range at Different Deviations from Base Scenario Analysis A scenario analysis is the process of estimating the expected value of a portfolio or project after a given period of time under specific changes in variables of the portfolio's securities or changes in key factors. Commonly, scenario analysis focuses on estimating what a portfolio's value would decrease to  if an unfavorable event would occur.For the proposed project the scenario analysis was conducted assuming a 25% probability for best-case conditions; each of the variables calculated in figure 25 would be 20% better than its base-case value. Conversely, there is a 25% probability of worst-case conditions, with the variables 20% worse than the base; a 50% probability was used for base-case conditions. All figures have been calculated below in figure 26. Scenario| Probability| Sa les Price| Unit Sales| Var Costs| NPV| Squared Deviation times Probability|   | | | | | |   | Best Case| 25%| $330. 00 | 2,736,000 | $164. 00| $1,726,918,338 | 422505172390830000 | Base Case| 50%| $275. 00 | 2,280,000 | $205. 00| $284,606,920 | 10125137435137500 | Worst Case | 25%| $220. 00| 1,824,000| $246. 00| ($588,490,656)| 257759816231319000 |   | | | | | |   | Expected NPV = Sum, Prob. times NPV| | | $426,910,381 |   |   | Standard Deviation | | $830,897,181 |   | | Coefficient of Variation = Std Dev / Expected NPV|   | 1. 95 |   | Figure 26 –RDS. A Proposed Project Scenario Analysis Conclusion In conclusion, after performing a complete analysis on the feasibility of the proposed project, it is determined that it would be beneficial for Royal Dutch Shell, plc to implement the project. The IRR and MIRR are greater than the WACC of 8. 28%, at 17. 0% and 13. 1% respectively. It is currently estimated that the project will pay for itself in approximately 4 . 74 years according to the discounted payback calculations.The Net present value of the project is positive and the profitability index for the project is 1. 41 (greater than 1) it is a positive sign for the project selection. Royal Dutch Shell is currently moving in a positive direction with a healthy financial base. Financial analyses have bestowed Shell with an AA bond rating, which underlines the financial strength of the organization. Based on all the information listed above, it is with my professional opinion after the evaluation within this report that Royal Dutch Shell takes on the project; with the current and estimated futures of Shell it can only add value to the corporation. References E*Trade. 2011, December 31). Royal Dutch Shell Plc RDS. A. Retrieved November 28, 2012, from E*Trade Financials: https://www. etrade. wallst. com/v1/stocks/snapshot/snapshot. asp? YYY220_/UfRI8EalsBAnXarKLCzPko3kjoyjLMbzW9xSdWWCGroVsRTAdKeDJzNAwM5xeMSzfFm9X4tAHc+eI+8pZ9rdHSsGMEaof+37qAzR A17/MKnpCPFTrRrGXhYPAZVsWXkzq5OKgjy67owAqAG5C1fyJ6IzD55l8M8TBKZkWpNM0lH4j7Jb2aXQsoxNw Morningstar, Inc. (2012). Morningstar research. Retrieved November 2012, from http://financials. morningstar. com/ratios/r. html? t=RDSA®ion=GBR& ;amp;culture=en-US Network, Y. -A. (2012). Yahoo! Finance. Retrieved November 28, 2012, from Bond Center: http://finance. yahoo. om/bonds Royal Dutch Shell. (2012). Building an Energy Future: Investors' Handbook. London: Royal Dutch Shell Plc Financials. YCharts Pro Stock Report. (2012). Royal Dutch Shell plc (RDSA). New York: Y Charts. Appendix Royal Dutch Shell Income Statement Billions $ Royal Dutch Shell Balance Sheet Billions $ Royal Dutch Shell Statement of Cash Flow Billions $ ——————————————– [ 1 ]. (YCharts Pro Stock Report, 2012) ] [ 2 ]. [ (YCharts Pro Stock Report, 2012) ] [ 3 ]. [ (YCharts Pro Stock Report, 2012) ] [ 4 ]. [ (YChart s Pro Stock Report, 2012) ] [ 5 ]. [ (YCharts Pro Stock Report, 2012) ] [ 6 ]. [ (YCharts Pro Stock Report, 2012) ] [ 7 ]. [ (YCharts Pro Stock Report, 2012) ] [ 8 ]. [ (Royal Dutch Shell, 2012) ] [ 9 ]. [ (YCharts Pro Stock Report, 2012) ] [ 10 ]. [ (Royal Dutch Shell, 2012) ] [ 11 ]. [ (Royal Dutch Shell, 2012) ] [ 12 ]. [ (Royal Dutch Shell, 2012) ] [ 13 ]. [ (Royal Dutch Shell, 2012) ] [ 14 ]. [ (Royal Dutch Shell, 2012) ] [ 15 ]. [ (Network, 2012) ] [ 16 ]. [ (E*Trade, 2011) ] [ 17 ]. [ (E*Trade, 2011) ]

Montresor

The murder of Fortunato, executed in a   gruesome manner in Edgar Allan Poe’s 1846 tale The Cask of Amontillado, is a classic example of the premeditated crime.Its perpetrator, Montresor, was actuated by malicious intent, the circumstances surrounding it showed evident premeditation and meticulous planning, and he executed it in such a way as to avoid suspicion and punishment.Montresor’s motive was simple: to avenge an insult, of which details the author does not tell us.   He confides that he is of a vindictive nature,   not be satisfied with the simple act of inflicting punishment on his tormentor. He must avenge himself in cold blood, ensuring that the victim would know he delivered the fatal blow, and escape unpunished (1).Montresor’s plan was simple enough: let Fortunato accompany him to the underground wine vaults and there, through treachery and deceit, chain him to the wall and entomb him alive.  Ã‚  Ã‚   He   cunningly devised a plan to lure Fo rtunato into his trap.  Ã‚  Ã‚   Fortunato according to the author, â€Å"prided himself on his connoisseurship in wine† (1).   He knew his friend would not be able to resist showing off his expertise in judging old vintages like the Amontillado.   Ã‚  Ã‚  Himself being skilled in Italian wine, Montresor had the perfect cover for inviting his prey into the catacombs.To escape suspicion, Montresor had to do it at such time when people would least notice something was amiss.  Ã‚  Ã‚   He thought the height of the carnival season, particularly at night when merrymakers would be wildly drunk and     carousing on the streets, would be the perfect time to carry out his plan.  Ã‚  Ã‚   The author does not tell us if he wore a costume, but Fortunato was dressed as a clown, bells and all, and people would not have recognized him, or remembered who he was last seen with.  Ã‚   â€Å"The man,† described the author, â€Å"wore motley.  Ã‚   He had on a tight-fit ting part-striped dress, and his head was surmounted by the conical cap and bells†(1).Montresor the avenger complimented his friend on â€Å"how remarkably well† he looked, feigning goodwill and friendship so as not to arouse any suspicion, of which there really was no need.  Ã‚   His friend clearly had no idea what he was up to.  Ã‚   Then the plotter subtly released the bait: he told Fortunato of his purchase of â€Å"a pipe of what passes for Amontillado† and his doubts thereof.  Ã‚   He had gone to the extent of buying the ancient cask in order to have a credible and irresistible cover for extending an invitation to his quarry. Knowing Fortunato well, Montresor pretended to be on his way to consult Luchresi, another vintage expert, whom Fortunato detested.   He appealed to Fortunato’s vanity, saying, â€Å"And yet some fools will have it that his taste is a match for your own†(1).Thinking like a criminal, Montresor had carefully avoided making any threats against Fortunato, knowing any slight hostility or animosity between them could later on be picked up by the police and lead to suspicion against him. On the contrary, he was careful to cultivate his friendship. On the night appointed, as they met at the carnival, his friend accosted him â€Å"with excessive warmth†. Montresor greeted him with equal pleasure, although for a different, sinister reason.On their way to the catacombs, Montresor continually feigned concern for Fortunato, who was being wracked by violent coughing, entreating him to return, although he knew his friend in his drunken state would not turn back.  Ã‚  Ã‚  Ã‚   He actually added to his intoxication by making him drink some more from the bottles of Medoc that lay about their path (2).  Montresor showed sardonic wit as they proceeded on their way.  Ã‚  Ã‚  Ã‚   Fortunato was asking him for a sign that he was indeed a member of the Masonic brotherhood as Montresor claimed.  Ã‚   I n reply Montresor produced a trowel from the folds of his roquelaire.  Ã‚  Ã‚   Fortunato the clown laughed it off as a joke (3).Passing through the catacombs, they finally arrived at the predetermined scene of the crime, which lay at the remotest end of the crypt.  Ã‚  Ã‚   Here was an interior crypt or recess whose contents of skeletal remains had been thrown off.   It was â€Å"backed by one of their circumscribing walls of solid granite†(4).Taking advantage of Fortunato’s weakened and drunken state, while he was bewildered upon finding himself in a cul-de-sac, Montresor quickly bound him to the granite wall.  Ã‚   Then Montresor produced from the pile of bones a quantity of building stone and mortar and with his trowel began mixing them and walling up the entrance of the niche.Even after having secured his victim, Montresor was still feigning concern for Fortunato, showing him the dampness caused by the nitre, and entreating him to return.  Ã‚  Ã‚   The r ealization by Fortunato of his doomed state was slow in coming.  Ã‚   It only came later when, having seen the wall rising higher and higher, and as his intoxication gradually wore off, he saw the horrible reality of the crime being committed against him.   Before he was completely enclosed, Fortunato apparently lost his sanity.â€Å"A succession of loud and shrill screams, bursting suddenly from the throat of the chained form, seemed to thrust me violently back,† writes the author.  Ã‚  Ã‚  Ã‚   Fearful that his victim might have escaped, he unsheathed his rapier (4).  Ã‚   Here is another proof that Montresor exercised forethought, arming himself for the trip just in case things went awry.As we consider the facts, it is clear that Montresor thought of every detail to carry out his vow of revenge, of which two foremost considerations must be satisfied: 1) the avenger was not to be caught, and 2) he must â€Å"make himself felt as such to him who has done the wrong.à ¢â‚¬ Ã‚     Ã‚  All his acts pointed to careful planning and execution of the crime: cultivating affection towards Fortunato, buying the cask of Amontillado, bringing the mortar and stone   to the secret niche, waiting for the height of the carnival season to carry out the plan.   The police must have looked for Fortunato in the usual places except in the crypt.Knowing he was in frail health, they must have written him off as having drunk away the night and ended up a victim of some drunken brawl or robbery.     Ã‚  The old rampart of bones that covered the niche was not disturbed for half a century (5).   Even if they could produce some circumstantial evidence against Montresor, like being last seen with him,   such evidence would not stand in court, as the corpus delicti must first be proved.  Ã‚   His crime was not found in his lifetime.  Ã‚   Thus he lived up to the motto of the Montresors: nemo me impune lacessit.WORK CITEDPoe, Edgar Allan.   â€Å"The Cas k of Amontillado†.  Ã‚   15 February 2007.

erw essays

erw essays The article is about the foreign affairs of Bush and Gore. It expalins how Gore could ask the republicians about how Bush shouldn't be the worlds cop or 911. Says that Gore could ask Bush if the republicians are so serious about foreign affairs then why do they let both the senate and the house affair committees be run by lawmakers. It also asks Gore what Clinton successes of foreign affairs were. It talks about what would each candidate do if a dangerous situation came up what U.S. costly intervention they would have. Says if one plane is shot down in Iraq then what would they president do with Saddam Hussein. Tells how U.S. should spend more money investing in foreign aid so that U.S. doesn't have to be the cheapskate around here. The article says that if Saddam takes a few more barrels off of the market we will soon have to pay 3 dolars a gallon for gas. I think that this article is a bunch of @#$#. I think this because both Bush and Gore look into foreign affairs enough so that its not to excess. This article wants U.S. to be totally on to all of foreign affairs. Our country doesn't have to deal with other peoples problems right now. We do enough for foreign countrys. Yes we do need to make some agreements but not to excess as i have said before. Anexample of what agreements we should make is the situation about the gas. We are buying it for to much money at the moment from Saddam. I don't think we need to put more money into finacial aid. We put plenty of money in there already. If we did put more money in finacil aid that would mean we would have to pay more taxes. It says we are Saddam hostages. I don't see it that way I see it that in a way we are help by Saddam and his gas, but i think that soon he will start to chang it to the way it was. I think Saddam is testing on what we will do when a tiny crisis like this, caused by S ...

Definition and Examples of Indeterminacy in Language

Definition and Examples of Indeterminacy in Language In linguistics  and literary studies, the term indeterminacy refers to  the instability of meaning, the uncertainty of reference, and the variations in interpretations of grammatical forms and categories  in any  natural language. As David A. Swinney has observed, Indeterminacy exists at essentially every descriptive level of word, sentence, and discourse analysis (Understanding Word and Sentence, 1991). Examples and Observations A basic reason for linguistic indeterminacy is the fact that language is not a logical product, but originates from the conventional practice of individuals, which depends on the particular context of the terms used by them. (Gerhard Hafner, Subsequent Agreements and Practice. Treaties and Subsequent Practice, ed. by Georg Nolte. Oxford University Press, 2013) Indeterminacy in Grammar Clear-cut grammatical categories, rules, etc. are not always attainable, since the system of grammar is arguably subject to gradience. The same considerations apply to the notions of correct and incorrect usage since there are areas where native speakers disagree as to what is grammatically acceptable. Indeterminacy is, therefore, a feature of grammar and usage. Grammarians also speak of indeterminacy in cases where two grammatical analyses of a particular structure are plausible. (Bas Aarts, Sylvia Chalker, and Edmund Weiner, The Oxford Dictionary of English Grammar, 2nd ed. Oxford University Press, 2014) Determinacy and Indeterminacy An assumption usually made in syntactic theory and description is that particular elements combine with one another in very specific and determinate ways. . . . This supposed property, that it is possible to give a definite and precise specification of the elements connected to one another and how they are connected, will be referred to as determinacy. The doctrine of determinacy belongs to a broader conception of language, mind, and meaning, which holds that language is a separate mental module, that syntax is autonomous, and that semantics is well-delimited and fully compositional. This broader conception is not however well-founded. Over the last few decades, research in cognitive linguistics has demonstrated that grammar is not autonomous from semantics, that semantics is neither well-delimited nor fully compositional, and that language draws on more general cognitive systems and mental capacities from which it cannot be neatly separated. . . . I suggest that the usual situation is not one of determinacy, but rather indeterminacy (Langacker 1998a). Precise, determinate connections between specific elements represent a special and perhaps unusual case. It is more common for there to be some vagueness or indeterminacy in regard to either the elements participating in grammatical relationships or the specific nature of their connection. Otherwise stated, grammar is basically metonymic, in that the information explicitly coded linguistically does not itself establish the precise connections apprehended by the speaker and hearer in using an expression. (Ronald W. Langacker, Investigations in Cognitive Grammar. Mouton de Gruyter, 2009) Indeterminacy and Ambiguity Indeterminacy refers to . . . the capacity . . . of certain elements to be notionally related to other elements in more than one way . . .. Ambiguity, on the other hand, refers to the failure of an increment to make a distinction which is crucial to the discharge of the speakers present obligations. . . . But if ambiguity is rare, indeterminacy is an all-pervading feature of speech, and one which users are quite accustomed to living with. We might even argue that it is an indispensable feature of verbal communication, allowing for an economy without which language would be impossibly unwieldy. Let us examine two illustrations of this. The first comes from the conversation that was attributed to the friend and the old lady immediately after the latter had asked for a lift: Where does your daughter live? She lives near the Rose and Crown. Here, the reply is obviously indeterminate, as there are any number of public houses of that name, and often more than one in the same town. It creates no problems for the friend, however, because many other factors than the label, including, no doubt, her knowledge of the locality, are taken into account in identifying the place referred to. Had it been a problem, she could have asked: Which Rose and Crown? The everyday use of personal names, some of which may be shared by several acquaintances of both participants, but which are nevertheless usually sufficient to identify the intended individual, provide a similar way indeterminacy is ignored in practice. It is worth noting in passing that, were it not for users tolerance of indeterminacy, every pub and every person would have to be uniquely named! (David Brazil, A Grammar of Speech. Oxford University Press, 1995) Indeterminacy and Optionality [W]hat appears to be indeterminacy may actually reflect optionality in the grammar, i.e., a representation that allows multiple surface realizations of a single construction, such as the choice of relatives in Theres the boy (that/whom/0) Mary likes. In L2A, a learner who accepts John *seeked Fred at Time 1, then John sought Fred at Time 2, might be inconsistent not because of indeterminacy in the grammar, but because the grammar permits both forms optionally. (Observe that optionality in this instance would reflect a grammar that diverges from the English target grammar.) (David Birdsong, Second Language Acquisition and Ultimate Attainment. Handbook of Applied Linguistics, ed. by Alan Davies and Catherine Elder. Blackwell, 2004)