The Scarlet Letter Summary: Chapters 7-11

In these chapters, Hester visits the governor’s mansion. She wants to find out if the rumors that Pearl might be taken away from her are true. When she finally meets with the governor she begs him to not take her daughter away from her. They agree to not separate the mother and child, and Pearl seems to take a liking to the governor. Chillingworth tries to convince the governor to reopen the case of revealing who the father of Pearl is, but he refuses.Chillingworth changed his name upon his arrival to Boston to hide his true identity, even though Hester knows his true Identity, and she was sworn to secrecy. He is known as the doctor of the town, and because the town has very little medical help, he is openly welcome. When Dimmesdale begins to have lots of chest pains, the doctor moves in with him to make sure everything is ok. Even though the minister doesn’t trust the doctor, because he has no reason for his distrust, he still does what he says.The minister’s si ckness causes him to give more powerful sermons, mostly focusing in sins. At night, he cant sleep and he begins to have visions. He has a vision of Hester pointing at her scarlet letter, and then pointing at the clergyman. The minister believes that he is jus delusional and doesn’t pay any mind to his visions. He then begins to torture himself, by whipping himself, not eating, and not sleeping. He then thinks he knows how to remedy his pain. He decides to hold a vigil, on the same scaffold where Hester had suffered her punishment years ago

Leader Of Choice: Tony Robbins Essay

Tony Robbins practices what he preaches. He knows fully well that as a well-known personality, he must recognize the diverse workforce with which he is working with. He has developed strategies for accelerated transformations of individuals from different cultures. These transformations are not only done during the training itself, but are carried on over the long haul of individual lives. For instance, he has joined forces with other therapists in building this strategy of continuing to address the needs of the diverse groups of people across cultures. Joining with Cloe Madanes, a well-known therapist, the Robbins-Madanes Center for Strategic Intervention creates training materials and programs aimed at diverse communities. Carrying the philosophy further, Robbins has focused attention not only on adults and businessmen, but also on children in their Council for Human Rights of Children at the University of San Francisco. This is a prestigious company that champions the rights of children all over the world. And if that is not enough, the company also recognizes, in essence, that many written defenses of the diverse cultures must highlight their programs because certain groups of people are denied access to aids and tools that would make them deserving of better positions because of their economic opportunities in life.  Therefore, Tony Robbins’ trainings are geared so that education can be given to these groups of people and integrated into the productive workforce. He has founded a nonprofit Anthony Robbins Foundation that provides assistance to the homeless, elderly and inner city youth as it feeds millions of people in nine countries every year through its international holiday â€Å"Basket Brigade.† He has given his seminars to a diverse group of people himself all over the world. Impacting the lives of nearly 50 million people, he and his company continues to reach out to all kinds of individuals. Equality in the full extent would be difficult to achieve especially considering the highly diverse cultural groups that comprise American society and the world at large.  Towards this end, Tony Robbins and his company serves as viable and sustainable channels in which the interests of people are upheld based on what is good for society in general utilizing the strategies he has developed.

Human resource management Research Paper Example | Topics and Well Written Essays - 1500 words

Human resource management - Research Paper Example Employees are essential assets to any organization that strives to achieve sustainable competitive advantage and organizational success. As such, the recruitment and selection process is vital in ensuring the right employees are hired for the right jobs as a wrong recruitment can break the company. Before beginning the recruitment process the human resource department should ensure a human resource plan is in place to avoid overstaffing or understaffing. The manager needs to monitor progress and evaluate performance so as to recognize areas of weaknesses or strengths and put corrective measures such as training.From the job analysis a job description and job specification is developed which is essential for preparing a recruitment plan and selection strategy. The aim of this paper is to find a replacement for an employee who has been promoted to the next management level, evaluate his/her performance and determine pay and training needs. To achieve this, various activities will be pe rformed. First is to carry out a job analysis and develop a job description. Secondly, is to develop a recruitment plan. Thirdly, selection strategy will be selected. Fourth is to determine how performance will be evaluated and how pay will be determined. Lastly, the paper will address training and development issues for professional growth of the selected candidate. The position that needs to be filled is that of a senior account as replacement of the manager promoted to chief financial officer. As such, the person will work directly under financial officer’s supervision. Job Analysis This is an in-depth study of the tasks and behaviors related to the position and form the foundation of HRM (Bohlander & Snell, 2010). It entails gathering information about the job by establishing the duties, tasks and activities of the job. However, predetermined steps are used to gather the information so as to ensure it is reliable and valid. This is due to the fact that an incorrect job an alysis affects all the other human resource functions as they derive from it (Mullins, 2010). It means a wrong job description and job specification which translates to recruiting the people who do not match the job. The information required can be gathered through observation, interviews, questionnaires and even secondary sources such as O*NET. Observation involves a job analyst observing an employee performing the task and recording the tasks, activities equipments and materials used. Analysts can also interview persons in the same positions or develop a questionnaire for them to fill indicating their job duties, purpose of the job, tasks, equipments and materials, special health and safety concerns, physical setting and requirements for performance such as skills, education and experience, physical and mental demands (Bohlander & Snell, 2010 p. 153-154). O*NET o the other hand, has already job descriptions of 23500 occupations. The aim of conducting job analysis is to understand the job and establish essential duties and responsibilities and behaviors required for performing the job. The essential competencies are those portrayed by high performers in the same role (Searle, 2003). The first step is thus to understand the job and the second step is identifying performance behaviors as outlined above. These behaviors are then used to identify and choose essential competencies which are arranged in order of importance as shown in figure 1. Essential competencies are those performed most of the time and also required when job starts as opposed to learning on the job. The fourth step is to determine how

RFID Impact on Supply Chain Management Research Paper

RFID Impact on Supply Chain Management - Research Paper Example RFID works using small (sometimes smaller than a fingernail) pieces of hardware called RFID chips. These chips feature an antenna to transmit and receive radio signals. So-called passive RFID chips do not have a power source, but active RFID chips do. RFID chips may be attached to objects, or in the case of some passive RFID systems, injected into objects† Radio Frequency Identification (RFID) is a technology to recognize objects. This technology is for eternity classified as a technology similar to Automatic Identification and Data Capture (AIDC). AIDC consists of Barcodes, Biometrics and Smartcards. Apparently, RFID and Barcodes technologies are considered as one of the key drivers in supply chain management operations to categorize objects or merchandize at various workflow stages. In the intervening time, Biometric and Smartcard technologies are employed for access control procedures, banking and communication industry. The prime advantage of RFID technology is its ease of use and minimalism. RFID replaces barcodes and is a time saving, effective and reliable alternative. That is the reason why it is adopted and deployed in multipurpose applications i.e. Supply Chain Management (SCM), Inventory Tracking, Theft Protection, Location based Services, Electronic Health Monitoring for health care systems, RFID integrated travel documents, payment systems and context-aware applications. In recent years, this technology is flourishing robustly due to its extensive usability in upcoming technologies i.e. Ubiquitous Computing, Pervasive Computing, or Ambient Intelligence Solutions. RFID technology comprises of transmitters spreading electromagnetic technology in the environment to send and receive signals. The communication is conducted between two elements, transceiver and transponder. The radio waves propagation is emitted the form of electromagnetic waves and promulgate in speed of light. The applications of radio waves consist of Radar systems, Fixed Mobile and Satellite Communication, Media Broadcasting and Computer Networks. Radio waves can utilize different band of frequencies measured in Hertz (Hz) which represents the natural process of oscillation in waves. RFID technology utilizes Low Frequency (LF), High Frequency (HF) and Ultra High Frequency (UHF) from the electromagnetic spectrum. Light waves have certain limitations when passing through objects. On the other hand, radio waves travel through solid objects and opaque materials. RFID is implemented in many domains to improve business processes and supply chain management. RFID Usability Factor There is always a logical concept of analyzing RFID as a better substitute for the barcodes systems. However, the consideration of difference between these two technologies is imperative in order to deploy them successfully. Undeniably, RFID technology does not entail a line of sight to read the tags as compared to barcodes, where it is mandatory to identify the tag optically to scan it within a squat distance. Furthermore, in RFID technology, the space for data in a tag can be more than 100 bytes, which is far greater than the maximum space available in barcodes. The available storage space provides the freedom to assign identification numbers not only to a brand but also to each item individually. The valuable functionality of identifying multiple tags concurrently enhances the efficiency in any operational environment employing this

Make a research paper about two different types of application softare

Make a about two different types of application softare (exclude microsoft office softwares) - Research Paper Example Specifically, an application software provides the end-user with the capability to manipulate text, graphics, or even audio and video files. Different types of application software include Word Processing Software, Database Software, Spreadsheet Software, Multimedia Software, Presentation Software, Enterprise Software, Information Worker Software, Educational Software, Simulation Software, and Content Access Software. This paper will discuss specifically about Firefox and SAP, two application software that are widely used in their respective fields and industries. Firefox Firefox is a web browser application software that falls under the category of content access software. As its name implies, content access software allow users to access content with or without editing allowed (Bell 107). These kinds of software are primarily applied on platforms where a user is required to share content among a group of other users. Examples of content access applications are media players, web br owsers, and computer games. These software facilitate the access and use of digital content and allows the user to access and use these content with other users as well. Web browsers, specifically, are among the most widely used content access software as they allow people to request for, access, and even show information and yet many other applications through the internet (Miller, Vandome and McBrewster 10). As a web browser, Firefox provides users with access to information resources, which may be in the form of a web page, an image, a video, or some other content. According to founder Blake Ross, Firefox is an open source (i. e., free) web browser application that he created together with other developers because he wanted to minimize popup ads and other software applications that inflicted earlier web browsers (1). It descended from the Mozilla Application Suite, and features tabbed browsing, spell-checking, bookmarking, and downloading, aside from its basic web browser feature s (Gross 634). Most open-source software are usually plagued by their limited capabilities and applicable platforms. However, Firefox is able to run on a number of operating systems such as Microsoft Windows and Mac OS X. Currently, Firefox is the second leading web browser application next to Internet Explorer. SAP Software SAP, which stands for Systems, Applications, and Products in Data Processing, is an enterprise software used by many businesses today. Enterprise software respond to the needs of organizational processes and data flows (Bell 107). Enterprise software are meant to solve problems of the whole enterprise rather just of a specific department. Such systems are often costly and are thus available only to large scale enterprises. Moreover, these software are customized to fit the system of the entire business organization. As such, SAP is responsible for performing a number of departmental functions (oftentimes, the enterprise’s entire IT system is rooted on thi s software), for example, order processing, procurement, production scheduling, customer information management, and accounting (Oak). Thus, as an enterprise software, SAP is hosted on a number of servers and caters to a large number of users at the same time. This is usually done over a computer network, a feature that is in contrast with other lone-user application that runs on a user’s PC, catering to only one user at a time. It should likewise be noted that SAP is an ERP or

Management Essay Example | Topics and Well Written Essays - 2000 words - 2

Management - Essay Example It can be even stated that, in general, both companies have rather similar marketing strategies and that the major sales tool of both is physical indoor sales. However, the reason for which Barnes & Noble has a leading position is its e-reader called the Nook. Surely, Borders Books, just like its rival, has some online presence. However, this online presence was present via Amazon.com only. In addition, the Nook, together with Kindle of Amazon, has opened a qualitatively different era in the development of the book and e-book market. Having created and market these electronic devices, Amazon and Barnes & Noble have, actually, created a totally different from traditional one niche of the book market. Selling electronic books involves working with a different market segment and target audience. This, in its turn, calls for much time and resources of the company. While spending on developing new technologies and broadening the range of prospects was a new concept for Amazon, Barnes & No ble, being a representative of traditional – paper – publishing, had to invest much into developing and implementing the change. However, this change, finally, became a competitive advantage of the company. This change can even be called a breakthrough innovation on the basis of using and improving existing technology, plus â€Å"departure from the existing market segment† (Benner and Tushman 2003, 239). Thus, having adopted or redesigned the newest technologies available in the industry, Barnes & Noble have created new benefits for their clients and, in such a way, might have even attracted new clients (Zhou, Yim, and Tse 2005, 43). This, according to Zhou, Yim, and Tse (2005, 42) shows that Barnes & Noble has managed to remain competitive because it is more market oriented: market orientation, according to the scientists’ research â€Å"facilitates innovations that use advanced technology and offer greater benefits to mainstream customers† (Zhou, Yim and Tse 2005, 42). Therefore, since the market is changing and is becoming more technologically advanced, the companies working in the industry must adapt to the changes and change themselves. This statement is also supported by Goksel Yalcinkaya, Roger J. Calantone, and David A. Griffith (2007), who outline that â€Å"firm capabilities related to product innovation are central to continued corporate survival† (Yalcinkaya, Calantone and Griffith 2007, 63). The major problem of Borders Books, therefore, is that it didn’t pay enough attention to the changes that took place in the market and, as a result, did not respond in a timely and effective manner. It should also be remembered that, in addition to Barnes & Noble and Borders Books, there is another huge player in the market – Amazon.com. This company can be said to be the most technologically advanced and, as a result, the most successful in the e-book market. Borders Books, according to Neary (2011, 4) w as for many years relying heavily on Amazon to handle their e-commerce function. This shows that, while Borders Books were working on expanding its physical world presence, not enough effort had been given to building online presence. This can be named one of the major mistakes of the company because, considering the recent growth of virtual marketplace, the niche should not have been overlooked by a company willing to grow and develop. A good lesson from history on this matter is presented by Utterback (1994, 8), who

BRAND PERSONALITY Essay Example | Topics and Well Written Essays - 2250 words

BRAND PERSONALITY - Essay Example 392). The concept of brand personality eludes clear definition. Anandan (2009) provides what is probably the most practicable description: ‘Simply put, brand personality answers the question â€Å"What happens when the brand turns into a human being?† or â€Å"What happens when the brand comes alive?† (p. 139). Brand personality is also defined as â€Å"the set of human characteristics associated with a brand† (Asperin, 2007, p. 49). The concern of marketing practitioners as far as brand marketing is concerned is therefore how to personify a brand. Kumar (2009) links brand personality to self-concept, and it is self-expression, rather than emotion, that more significantly develops brand personality (p. 177-178). Brand personality is achieved by associating human characteristics that consumers commonly attribute to a brand. The characteristic may be in terms of demographic attributes (age, gender, status), lifestyle (activities, social class), culture (value s, beliefs), and other personality traits. The brand may be associated with celebrities or historical figures, and several devices may be used such as animism, anthropomorphism, personification, and user imagery (Purkayastha, 2009). A well established brand personality must possess the following attributes: (1) elements of the brand’s marketing mix are deliberately coordinated; (2) personality sought is competitively distinctive and desirable; and (3) the personality sought is robust and kept consistent over time and over media (Aaker & Biel, 1993, p. 49). Brand personality influences the choice of consumers by enabling them to express who they are by the brands they use (Asperin, 2007, p. 49). Brand personality can help marketers in: (1) the conception and creation of a brand; (2) evaluating its perception in the minds of the customer and compare it with what was expected; and (3) incorporating necessary changes to make the brand more attractive in order to meet the goals of creating lasting consumer satisfaction and loyalty (Purkayastha, 2009). In recent years, brand personality has become a topic of interest not only among academic researchers but more especially among marketing managers and strategists. This is evident in a scan of professional and academic journals on marketing research and applications. The principal theoretical framework employed in academic literature is the multidimensional framework, first devised by Aaker, and later developed by other researchers to account for market-specific factors and universal, cross-cultural studies. Aaker’s Brand Personality Framework In applying brand personality constructs, the theoretical paradigm most commonly used is the multi-dimensional framework devised by Aaker, which is considered the prevailing standard. The Aaker framework is accepted as a comprehensive framework that may be generalised over a broad number of product categories (Malik & Naeem, 2012). The Aaker framework underlies the Brand Personality Scale, or BPS, developed by the same author. Based on an extensive study of American consumers, Aaker derived a framework comprised of five core dimensions and their facets, as follows (Guse, 2011): (1) Sincerity (Domestic, honest, genuine, cheerful); (2) Excitement (Daring, spirited, imaginative, up-to-date); (3) Competence (Reliable, responsible, dependable, efficient); (4) Sophistication (Glamorous, pretentious, charming, romantic); and (5) Ruggedness (Tough, strong, outdoorsy, rugged). The study of Malik and Naeem (2012), however, called attention to the perception that Aaker’s framework provides only a crude estimation of brand personality because it transposes human personality traits instead of using the brands themselves. The study also expresses concern that the original

Women and Terrorism Essay Example | Topics and Well Written Essays - 3250 words

Women and Terrorism - Essay Example Once so defined, those affected may become international lepers. Hence the nature of their movement; its objectives, ideology, and historical reason for being will be dismissed out of hand. The second stage in the 20th century transformation of terrorism was the growth of state sponsorship. Historically, the representation of women increases during the second wave of terrorism, although it is never very high. Also, the proportion of "supporters" relative to "regulars" and "leaders" grows in the second wave. Yet when researchers look at their places of birth and adult residence, the case for the diffusion of neo-Fascist terrorism by expansion weakens (Mason 37). Measured both in terms of where they were born and resided the early neo-Fascists were a more geographically dispersed collection of people than the later ones. So far as the terrorists' gender is concerned, somewhat surprisingly the late leftists did not show a statistically significant increase in female representation as against the early contingent (Mason 38). There is a shift, however, in the kinds of women who appear during the second period. The data suggest an increase in the proportion of married women who participated in the left-wing groups. The most famous [women terrorist] is Ulrike... Furthermore, second generation women were more likely to play leadership roles in these groups than were women who joined the earlier formations. Palestinian women terrorist leadership has been sufficiently successful that it may have provided at least some motivation for the September 11 attacks. States which are unable to confront their enemies conventionally have provided every imaginable assistance to terrorist groups in order to weaken their enemies physically or morally. Although the original acts of Palestinian terror have brought some international condemnation upon the perpetrators, Israeli responses have resulted in even worse condemnation for Israel (Bassam 83). Formal U.N. reprimands weaken Israel's moral position, which affects its relations with the U.S. Government. Ironically, the attacks have not weakened the Israelis physically; if anything, the attacks have moved the Israelis to new levels of proficiency in eradicating the threat. A crucial factor in the rise to prominence of the women participation has been the evolution of modes of violent behavior over time. If violence is viewed as an ongoing component in human relationships, rather than as a moral consideration, it is clear that the eras of conventional warfare and, in turn, nuclear warfare, have been respectively organized, institutionalized, and for the most part deterred (with no guarantee over future breakdowns) (Neuberger and Valentini 24). As persons have devised capabilities to deal with these forms of violence, it is not surprising that advocates of violence have turned to unconventional forms of warfare-first guerrilla warfare (liberation movements), and eventually to

Online Promotion Management Essay Example | Topics and Well Written Essays - 500 words

Online Promotion Management - Essay Example 2) The five steps for controlling include, establishing clear standards, monitoring, and recording, compare results against standards, communicate results and If needed, take the corrective action (Nickel et al 78). You will then send the feedback to check if the standards are realistic. If not you will have to start the process again. These steps will be essential when being implemented with a telecommuter in order to establish authority and eligibility. It also provides the initial steps for initiating telecommuting from the employees or management. The telecommuter should have a history reliable and responsible discharge of their work duties, a full understanding of the operations, pursue high quality work product and establish priorities with regard to effective time management. 3) Telecommuting changes the skills of first level supervisors to be able to harmonize the demands of management and collective workforce. It is able to allow the lowest level managers to use their levers and influence their position to improve the whole organization. There is the positive development as the first level supervisors have more influence in productivity, product quality and good labor relationships in the company (Nickel et al 72). 1) The video of Chapter nine talks about production and operation management. It talks about Ball Brother Glass MGC Co. Who made containers for paint and changed to a more form contemporary packaging. The Ball Co. get a lot of revenue from beverage and food container. On production, they use aluminum to make the can. Factors that affect production includes location, Ball Co. has over 30 manufacturing companies that are close to the customer. They also employ just in time inventory to reduce the cost of warehousing. Quality control is also helpful in ensuring that the customers get the best from this company.

The uses of sonar in medicine Essay Example | Topics and Well Written Essays - 1500 words

The uses of sonar in medicine - Essay Example In 2D ultrasound technology alone, many improvements have occurred with reference to resolution, image quality, range of indications and availability. In 3-D scanning, the sound waves are sent in different angles and a sophisticated computer program is used to reconstruct a 3-dimensional volume image using the reflected echoes, thus allowing one to gauge not only the height and width of the organs but also the depth. 3D ultrasound has applications in cardiovascular scanning also. The technology allows quantification of the volume of the plaque and direct visualization of arterial atherosclerosis. 3D ultrasound has has applications in interventional sonology, both in operative interventions and minimally invasive procedures. Therapeutic applications include lithotripsy, tumor ablation, acoustic targeted drug delivery, phacoemulsification, cleaning of teeth, sclerotherapy, lipectomy and elastography. Thus, sonar has wide range application in medical field. Introduction Sonar, commonly known as ultrasound, is a cyclic sound pressure delivered at a frequency that is much above the upper limit of hearing of human beings. Sound waves above 20 kilohertz fall into this category. Sonar is applied for several uses in many fields including medicine. In medicine, sonar is mainly used for diagnostic purposes and is called ultrasound. The method of diagnosis is known as ultrasonography. There are 2 types of sonography, 2D and 3D. 2D is more commonly used. It has has several therapeutic applications. 2D ultrasound is useful to visualize tendons, muscles and many internal organs in order to capture the size, structure and pathological lesions through real time tomographic images. In 2D ultrasound technology alone, many improvements have occurred with reference to resolution, image quality, range of indications and availability. In 3-D scanning, the sound waves are sent in different angles and a sophisticated computer program is used to reconstruct a 3-dimensional volume image using the reflected echoes, thus allowing one

Paris Peace Settlements Essay Example for Free

Paris Peace Settlements Essay An international order means how the world exist, work and co-related to each other, which could explain in different aspects included political, military, economic and diplomatic. In the following paragraphs, how Paris Peace Settlements during 1919-23 established a new international order would be explained. In the political aspect, the new international order characterized by the declination of Europe and marked by the rise of US. Before 1914, the world was dominated by Europe. European countries were strong in terms of economic and military power. The European countries are industrialized; they have high competiveness between each others in foreign goods. They have the power to establish overseas colonies. Thus, European countries have very strong military strength which was showed in the arms race between different countries. However, during the Paris Peace Settlements US became one of the big three, and have large authority over the drafting of treaties. After WWI, European countries were exhausted. Britain, for example, she became one of the world’s largest debtors with interest payments that formed around 40% of the government spending. In the new international order, the design of map had changed—new states were created and the Paris Peace Settlements leaded the declination of European empires. Before 1914, it was an age of empires, there are: German Empire, Austria-Hungarian Empire, Ottoman Empire, and Russian Empire etc. After 1923, the fall of empires occurred, Russia fell after the October Revolution, became the first communist country and German Empire became republic (Weimar Republic) after the German revolution. In the Paris Peace Settlement, Austria-Hungarian Empire had splitted into Austria and Hungary due to Treaty of St.Germain and Ottoman Empire declined largely; it had lost territory due to the Treaty of Lausanne. Germany lost Poland, reduced it size and lost all overseas colonies in the Treaty of Versailles. After 1923, there were establishments of new nations such as Czechoslovakia, Estonia,  Poland, Latvia, Finland etc. due to the principal of self determination that the Paris Peace Settlem ent put into practice. In the new international order, an organization— League of Nations was set up for peace keeping. Before 1914, there were only two attempts for peace making—the Hague conference. There are no agreements were reached in both Hague Conferences which leaded to the failure of peace keeping and WWI was broken out. After 1919, The Paris Peace settlements were called to decide what to do to achieve peace and settle matters in peaceful means. In the new international order, the rise of totalitarianism in Italy and Germany occurred. Before 1914, extreme nationalism only caused European powers to scramble about for colonies to bring about national glory; however, they did not expand by taking territories nearby. Thus, there were no changes or rise of any new political ideology, only nationalism caused territorial change and colonial rivalries. On the Paris Peace Settlements, the big three tend to weaken Germany and Austria, to prevent them from growing into a strong power again by abolishing union between the two of them and ceding land from them. After 1919, rise of totalitarianism caused countries like Italy and Germany to adopt expansionist foreign policies in order to regain ‘territorial loss’ e.g. Italy occupied Greek island in 1923. In military aspect, the domination of Germans’ military was lost in the new international order. Before 1914, Germany was one of the strongest countries in terms of military. From treaty of Versailles, Germany was only allowed a regular army that was limited to 100,000 military personnel, an air force and only a very small fleet. The compulsory enlistment into the armed forces had put to an end. Thus, Rhineland had to be occupied for 15 years by the allied military forces. All commissions in Germany controlled by the allies until 1927 from 1919. After 1919, due to the military restrictions imposed on Germany, there was a lost of the military advantage and the status of domination. In the new international order, the League of Nations adopted a principal—Collective security which means when a country is being attacked;  other country should give aid come to support the attacked country. Before 1914, there is no any ideology to give military aid to countries, but only secret agreements or treaties or to use military power in solving problem and conflict. Thus, arms race between countries occurred very often, countries could compete for land on their own without passing through any trials or any peace keeping bodies. On the Paris Peace Settlement, there was the establishment of League of Nations which symbolizes the existence of collective security. Also, there were disarmaments of the defeated powers to maintain peace e.g. abolition of conscription in Germany. After 1919, there were restrictions in military over the defeated powers. European powers tried to negotiate, instead of using military power to solve problems. In the economic aspect, Germany lost its economic income, at the same time; France got the power to recover from the war in the new international order. Before 1914, there were many natural resources in Germany, many coal mines in the northern part of Germany. By 1900, the average mine output had risen to 280,000 tons. By 1913, there was a production of 18 million tons of steel. However, in the treaty of Versailles, the Saar was to be governed by the League of Nations for 15 years started from 1919, and its coalfields were to be ceded to France. After 1919, Germany had lost an income to recover from war. In the new international order, there was a huge unbalancing concerning about the economy—Germany was almost being bankrupt however allied powers received a source of recovery. Before 1914, Germany was rich and had competitiveness among the European powers. Germany had textile industries, coal production, banks, railways, and steel production. In the treaty of Versailles, Germany had to pay reparations up to 6.6 billion pounds. After 1923, Germany could not afford the huge indemnity, workers had discontent because they did not have payment for their job, as their money were all used to pay the reparations. At the same time, the government had to print more money to satisfy the need of workers, however, it soon faced serious economic problems such as hyperinflation and unemployment. On the other hand, Britain and France received reparations from Germany; it had been a source of recovery from the destruction brought by war and distant of recovery from  the war for Germany was far. In the new international order, Austria went bankrupt and Hungary’s industry suffered greatly. Before 1914, Austria-Hungary had agriculture and food industry, and was the most important foreign food supplier to Germany, Italy and Britain. It also had heavy industry such as car manufacturing and electric power industry. However, in the Treaty of St. Germain, Austria had to pay reparations. In the Treaty of Trianon, Hungary lost population which meant the loss of productivity. After 1919, Austria and Hungary suffered and had to rely on League of Nations to recover from the war. In diplomatic aspect, the idea of collective security was being raised in League of Nations. Before 1914, there was extreme nationalism, which encouraged European powers to expand the overseas colonies; military also meant the status and the power of a country and have a suspicious attitude towards other European powers. In the Paris Peace Settlements, there was the formation of League of Nations to ensure world peace. Moreover, it was situated in Switzerland to ensure its neutrality. After 1919, there were more measures on peace keeping. To conclude, a new international order was established via Paris Peace Settlements.

Organizational structure of the business Essay Example for Free

Organizational structure of the business Essay Businesses can take different approaches on the way they structure the organization of their business. The different types of structures include flat, matrix, and tall. These represent hierarchical, centralized and decentralized forms of organization. These different structures are used in different types of organization relating to the needs the business may require. In a tall structure there are many levels. People of different status within the business take each level. This is hierarchical. As the levels get higher in the structure, the power and responsibility usually increases. In a tall structured organization there would the top layer of the structure but many at the bottom represent few people. This structure would be used in a large business where there would be many members of staff, many groups under different supervision. This form of organization would cause there to be a lack of communication throughout the business as issues would be passed through the levels, supervisors to managers and may never reach the managing director. Elements like this in a tall structure could lead to a lack of control throughout the business. Flat is another style of organizational structure. This is still of a hierarchical form yet there is less layers in the business. This is more of a democratic approach as there is a smaller span of control throughout the organization. As there is less levels in the structure there is less separate sections of power. The reduction in the amount of layers means that communication throughout the business is greatly improved therefore the managing director has a greater level of control over the business as a whole. This would be used in a smaller business. It would consist of a managing director followed by possibly a number of directors then supervisors then staff in a hierarchical fashion. A matrix approach can also be used. This is constructed by the business itself. It can be a democratic, autocratic or lassiez-faire approach or a mixture of the three. Very large businesses, PLC or LTDs use this. As the business is so large a tall matrix would not be appropriate as there would be a lack of interaction and control of the business would not be great. To prevent this happening, Boots designed a structure of its own. These are known as matrix structures. Each level has independent managers and spans of control that do not lead up or down the hierarchy of the business. Each level has independent managers and line supervisors so they are self-contained. The local span of control is the responsibility of the line manager. To keep communication strong within the business there is a strong chain of command throughout the structure. This ensures that any problems; ideas or achievement are known throughout the business. This approach keeps communication and control strong, as although there are a great number of people within the structure it is easy to find out what is happening at present through the chain of commanding supervisors who are responsible at that level. The different sections of the business that are present within the matrix are   Boots the Chemist Wellbeing services   Supply and support services   Boots Healthcare international Each of these sections (levels) of the business has line managers and supervisors. These communicate through the chain of command through out the business. This gives a firm structure of a high level of control and interaction, which is within the best interests of the smooth running of the business. The diagram below shows the set out of the business and how the different sections relate to each other. Within these sections the directing and supervisory structure is set out like this throughout the business This is Richard Baker; he is the chief executive of Boots PLC. He does not work in a store but control along with Howard Dodd Paul Bateman the running nationwide of the Boots Empire. They have control over every structure in every store throughout the country from managers to floor workers however it is rare they interact with any one but senior staff in the department stores. Boots to maximize the benefits created the matrix structure. This shows that they have taken their own approach upon their business and changed with the times. Using a matrix structure as the business expanded to the size it is now has proved beneficial and reaches an objective. Boots aimed to Develop, modernize technology and strategies. Using the matrix structure has been a form of modernizing therefore reaching a set objective. Boots aim of globalization would need to lead from a base of a stable market in the UK business sector. To gain a stable grasp in the UK economy Boots needs a stable business. The matrix structure consisting of effective interaction through out the levels and a hold on control ensures that the business runs smoothly and is stable in doing so. This reaches the objective of taking a strong hold in the UK business field, which can lead, to greater expansion and globalization. Companies can survive at a steady pace without altering too much about the workings of the business. However to expand, as Boots wish to, some of the most beneficial ideas may come from staff low down in the hierarchical structure. It is for this reason that the matrix structure is extremely beneficial as communication and interaction is strong between the levels so ideas can quickly be picked up on along with problems. This benefits the performance of the business and issues are quickly picked up on. This also contributes to the working towards of the objective relevant to expansion and customer loyalty as both business and custom seek to gain return from the matrix structures benefits and overall performance of the business as a whole. The matrix structure has many advantages that would not be applicable if the organization structure was of another form. The chain of command within the business ensures that the communication within the different groups is regular and effective. Within the boots organization there are many different sections that deal with different aspects of the business. The seven sections within the Boots group deal with their specific part of the business whether it is the chemist, retail or health care. The specialization within the business is a great advantage to all concerned. The staff employed in each of the sections are special trained in that area. Specialization is a great advantage to the business as it means that jobs can be carried out informatively and effectively. As staff is specialized in their area they provide great customer service as they are well educated in the fields in which they work. Empowerment enables the staff within the different sections to have freedom to do tasks that they are delegated without supervisions. This increases moral and self-motivation, as the staff feels confident and independent within the business. High motivation increases staff productivity, which improves the performance of the business. The span of control within the individual areas of the business ensures that the business is smooth running and any problems that occur can be dealt with quickly and efficiently. This is an advantage, as problems do not have to travel into other areas of the business through the chain of command. The separate sections of the business are independent in the way they work. This ensures the business has high levels of control throughout the whole business in all sections and all can be accessed quickly through the chain of command. All these are advantages that help a great deal towards improving the performance of the business for the reasons listed. Communication within Boots There are many different types of communication that businesses can adopt. Different forms of communication are used in different situations within a business. The main types of communication that are used now a day revolve around ICT. ICT stands for Information Communication Technology. Communication is used everyday from the second a business opens in the morning till the second that it closes. With out communication a business would never reach its full potential or have the smooth operations it could achieve. Within a large business, like a PLC or LTD like boots communication is essential. Without communication different sections of the business would not operate well together and issues could quickly fall out of hand. Communication through the chain of command is so important in keeping a business afloat and operating efficiently. Good communication ensures that the business keeps control and the top of the hierarchical structure is aware, or can easily find out the major movements from day to day. Between departments and hierarchical levels communication links must be strong as decisions and movements are often made that effect other departments. There are many different types of communication method. The specific sectors include   Written   Non-verbal. Verbal   Electronic Face to face Each of these has specific areas in which it is of most benefit to use. Different types of communication are used dependant on the issue that is relevant, who is sending it, and who is receiving it. It is important that communication towards employees is regular and efficient. This is because employees need to be kept informed of the movement of the business in all aspects. If there is product alterations or price changes employees must be informed straight away so that no problems occur within the business. Also information about extra shifts, overtime, work hours and bonuses, especially over Christmas are very important in the smooth operation and motivation of the staff. Supervisors and managers are usually the ones who would communicate with the staff. There are many methods that could be used. Employees could be informed and communicated with by the use of notice boards. This is a cheap method, which means that everyone can see the information present. This is a good method if everyone is aware there is a notice to be seen. This could easily be ignored or not notice quickly however. Letters with the employees pay slips are a good method to use, as it is likely that a very high majority of the employees will read them. This is good if it can wait till payday for the notice to go out although still staff may not read them. A team meeting at the beginning of the day is a very efficient way of communicating with staff as issues can be raised and the employees can communicate also. This means that everyone can be informed and there are no excuses why staff ignores issues raised. Employees who have computers (not floor workers) such as administration areas and HRM can be communicated with many more forms of modern communication such as email and uses of the Intranet. Managers and supervisors need to be able to receive communication from higher up in the chain of command and also to be able to distribute down the chain. This is very important. Higher levels in the hierarchical structure need to be able to communicate regularly and efficiently in order to hold a strong level of control over the business and make alterations and give advice where necessary. It is very important this area of the business is easy to communicate with so that no time is wasted in trying to do so. Managers in the Boots organization have offices in individual branches and headquarters; some supervisors also have computer access. This enables Boots to provide computers for the staff that is a great benefit when it comes to communication. The use of computers means that these managers can be easily and quickly communicated with via the use of email, Intranet messaging and time tabled events that may be stored and altered on network software that is specific to the Boots store. Different forms of communication are used in different parts of the business depending on different factors. These factors determine the form of communication and approach taken. These are described below.   Formal   Informal   Important   Urgent   Optional   Open to all   Sent to a specific person   Person   Impersonal   Relaxed   Who its aimed towards   Who its from Confidential This all affect what type of communication are used in different situations within the business. The different categories that the forms of communication fall into are know as the channels of communication.

The Lais Of Marie De France English Literature Essay

The Lais Of Marie De France English Literature Essay Adultery has always been seen as morally wrong. However, marriage has been seen as a sacred institution that is shared by most of the people and religions of the world. In Marie de Frances Lais, we are given insight to five adulterous affairs, six pre-marital sexual encounters, and one instance of impure thoughts. Marie de Frances writing allows readers to feel sympathy with the adulterers. Her lays are separated into two different categories. In the one category, readers feel empathy and compassion for the couple, as seen in Yonec and Lanval. In the second category, there is a combined idea of sympathy and disdain, as seen in Bisclaveret and Equitan. Marie de Frances lais focus on sex outside of marriage. However, the affairs that take place are often rewarded with children, wealth, healing, and loving marriages. In Marie de Frances first lai, Yonec tells the tale of a young woman who is kept locked away in a tower by her rich and old husband. We are told that he kept her there more than seven years (37), and that she was never allowed to come down not even for a relative, not for a friend (40). The young woman, who had no contact with anyone other than her husbands sister, began to let herself go. She lost her beauty, as a lady would (48). We begin to feel sympathetic for the young woman. Although her marriage to the man is sacred, we see the situation as cruel and unjust. When we are told that her beauty is fading, we feel a desire to see her made whole again. God, who have power over all, Please hear, please answer now my call (62-63). The young woman, although already married, prays that God will send her someone. A hawk soon appears and transforms into a knight. The affair seems acceptable to us because it is as though God has answered her prayer. The adulterous affair becomes even more acceptable in our eyes when we realize that their affair is not about only sex, but that they share a deep and tender love. The love that these lovers share brings the woman back to life. When the husband learns of the affair, he kills the knight. The woman is heartbroken until she learns that she is pregnant and will give birth to a son who Someday he will kill his and her enemy, be there avenger (102). When the son grows up and learns of his real father, he kills his stepfather. The poem concludes by saying All they once suffered for their love (158). Although the poem perhaps does not turn out the way we would like it to, we are left with a sense of happiness in the end. The next lai, Lanval, tells much of the same type of story. A distraught knight, who is frequently overlooked for his service, meets two women while wandering around. These two women bring the knight to their maiden who is waiting for him. The lady had a tender love for Lanval and has traveled very far in order to be with him. When Lanval hears this, he tells her All others for you I abandon (55). This begins their love affair. Being that they are not married and therefore should not be together so intimately, we dont see what theyre doing as wrong until much later. The lady tells Lanval that she much never tell anyone about her or she will leave him, so when he refuses Queen Guineveres advances, he is accused of being a homosexual. In order to disprove her accusations, Lanvel quickly brags about his lady and insults the queens beauty. King Author, hearing of this altercation, says that Lanval much face a trial and prove his claims. Lanval is distraught and cries out for her to come to him but she does not. As the trial nears its end, two of the womans servants appear. Lanval claims that Her serving maidsà ¢Ã¢â€š ¬Ã‚ ¦Is better than you are, Lady Queen (106-108), is proven and shortly after this, his lover appears. The crowd feels that she is just the most beautiful girl, of all girls living in the world (137-138). In the end, Lanval and the woman end up together and we feel as if justice has been served. Even though the lovers are not married and marriage is not even suggested, we are still satisfied that the two lovers are able to be together. Unlike the first two lais, the next two belong to a different category. Bisclaveret is a lai in which an adulterous affair takes place which can only be viewed as negative. In this poem, a seemingly happy couple He loved her, she him (24), end up apart and as enemies. Every week for three days, the man disappears and the unnamed lady has no idea when he goes. The man finally reveals his dark secret of being a werewolf with his wife. Instead of remaining true to her husband and loving him, she began to look elsewhere. She refused to share his bed anymore, and in turn made herself the lover of a man who had loved her for a long time. Knowing her husbands secret, the woman now knew that all she had to do was hide his clothes for him to become forever trapped as a werewolf. This lais is unlike the other lais because we do not feel sympathy for the woman having the affair, but for the husband. The man did not have to share his secret with his wife, but he wanted to be faithful and honest. In return, the wife betrays him and begins an an adulterous affair with another man. Although the other affairs in the lais were morally wrong, the extenuating circumstances that surrounded the women and men made them more acceptable. In this story, the wronged man gains revenge. The Bisclaveret is taken in by the King and is kept there until he comes in contact with his estranged wife and her husband. Though he had not ever hurt a human, he attacks both of them and bites the nose off of his wife. The king demands that she bring him his clothes and he is transformed into a man again. As a result, the womens children are born without noses and the former husband has the greatest revenge. The adultery that takes place in this story, although the wife and lover do get married, is never looked upon approvingly. The circumstances that surrounded this story never allowed for us to feel any kind of sympathy for the woman at all. As tragic as it might have been that her husband was a werew olf, it was when she plotted maliciously against her husband that we felt nothing but disdain for her. In the final lai, Equitan is much like Bisclaveret. The King of Nauns desires his seneschals wife. She is described as beautiful in face and figure (49), and the king says that he loves her. He tells the lady For her, he is near his doom (75). He tells the woman that he wants her to be his lover, but allows her to think about it. The King offers to marry her if ever he husband were to die and there is so much love that accept the affair. However, we begin to feel contempt for the couple when the woman begins to plot the death of her husband. Her plan to kill her husband backfires when he finds out about their affair. As a result, the king dies by his own hand and his lover by her husband. Any sympathy that we might have felt for this couple disappears once ill will is plotted towards the husband Marie de France creates poems that tell stories of true love, betrayal, and adultery. She presents us with situations in which we decide for ourselves whether or not they are right or wrong. We feel sympathy and understanding for the couples in some lais, while we feel disdain and contempt in others. Sympathy arises in the situations where there are cruel and unusual circumstances, while contempt develops when mischief and evil are plotted. One moment as we read, we as readers are hoping the couples end up together, while the next moment we are hoping for revenge. In the end, Marie de Frances lais take us on a wonderful journey that is filled with many exciting highs and disastrous lows.

Brave New World - A Wake-Up Call for Humanity Essay -- Brave New World

Brave New World - A Wake-Up Call for Humanity (this essay has problems with the format) Since the beginning of the Industrial Revolution in England, human society has had to struggle to adapt to new technology. There is a shift from traditional society to a modern one. Within the last ten years we have seen tremendous advances in science and technology, and we are becoming more and more socially dependent on it. In the Brave New World, Huxley states that we are moving in the direction of Utopia much more rapidly than anyone had ever anticipated. Its goal is achieving happiness by giving up science, art, religion and other things we cherish in our world. It is an inhumane society controlled by technology where human beings are produced on assembly line. His prophetic elements of human beings being conditioned, the concerns for the environment, importance of genetic engineering and reproduction, and our physical and mental development has now been one of the major factors that the governments, businesses and educational institutions are exploiting today. We are subconscio usly moving to this bureaucracy of conformity, and Brave New World is a wake up call from our obsessions of standardization socially, economically and politically. The story took place in A.F (After Ford) 632, this is 632years after Ford has released the first T-ford. Huxley used ?After Ford?to show its great advancement in making automobiles as a company over the years. In 1932, Huxley introduced Brave New World to show his great concern of the Western civilization. He saw that in the 1900s there was a dramatic economic change in different countries, where the wholesalers are being eliminated, and manufacturers selling directly to the consumers. For example, at that time Ford makes cars and even sells them. They control who and where they sell. Technology and transportation was increasing tremendously, which caused more and bigger factories, mass-productions (eg. automobiles), and more manufactured goods. There were more volumes of trade and production due to more machinery. As markets are growing, activities, structures, as well as attitudes towards companies are changing. Robert Heibroner suggests that ?the rise of such giant enterprises has changed the face of capitalism as they attempt to alter the market setting through a system of public and private planning (p.43).? Like the vi... ...re before (in terms of wealth, happiness, etc)? Are we too reliant on technology and science? Where is our individuality? Where is the tradeoff? How can we change to stop ourselves from moving toward the so-called ?Utopia?society? It seems that we too, are living in an incubator, trapped and conditioned, and we must do something to stop this from happening. Bibliography Huxley, Aldous. Brave New World. New York: HarperPerennial, 1946. http://www.primenet.com/~matthew/huxley/sub/Barron_BNW.html http://www.demigod.org/~zak/documents/high-school/brave-new-world/html http://www.ddc.net/ygg/etext/brave.htm Sexty,Robert. "Overview of the Business System" ,in Canadian Business and Society, Prentice-Hall, Scarborough, Ontario, 2005, pp5-22 Chandler, Alfred D.Jr. "The Roe of Business in the United States: A Historical Survey," in Business and Society, Barry Castro ed., Oxford University Press, pp.61-88 Steiner, G.A. and Steiner,J.F., "Critics of Business", in Business,Government and Society: A Managerial Perspective, 8th ed., McGraw-Hill, 2005.pp,69-90 Shaw, William H.., "The Nature of Capitalism",in Business Ethics, 3rd ed., Wadworth, 2006, pp.124-152

Contemporary Social Theory Essay -- essays research papers

Two major approaches to contemporary social theory are the Marxian materialist approach and the structural functionalist approach. The materialist approach was developed from the work of Karl Marx, who believed that the economic order shapes society. The functionalist approach was developed from the work of Comte and Durkheim, stating that is the combination of all of society’s institutions that shapes society. An organic analogy is most often used to explain structural functionalism. The analogy represents society with the human body and social structures and institutions are represented by the body’s organs. For a human being to survive, the body must perform certain functions to solve problems and meet needs. For example, we must circulate blood, remove waste, and biologically reproduce. Survival depends on the individual organs and how they perform together. Each organ does something to keep the system going. In order for society to survive and keep order, individual institutions must effectively perform together. The institutions must perform specific functions to meet problems or satisfy needs. This is achieved by institutions such as the family, economic, educational, and religious orders. It is the make up of the interrelated institutions that form society, as the interrelated organs make up the human body.   Ã‚  Ã‚  Ã‚  Ã‚   The materialist approach argues that humans are unique because we can produce solutions for material wants and needs; that materi...

Free Essay - Nora in Act 1 in Ibsens A Dolls House :: Dolls House essays

The Character of Nora in Act 1 of A Doll's House The character of Nora, of Isben's A Doll's House, is particularly difficult to interpret. Her character is constructed by the combination of a number of varying traits.  Ã‚   Throughout Act 1 her ambiguity is particularly prominent. Her frivolous, playful moments are readily followed by moments of practicality and astuteness. It is not surprising that Nora is such a changeable character for she is constantly interchanging between three main roles: a supporting wife, fundamental mother and sexual being. Ibsen uses the metaphor of a doll inside a doll house to portray Nora's attempt to become an individual while confined inside a male dominated world. Her wish to become self motivated is obstructed by Torvald's power over her.   Nora's home is the realization of domestic bliss, preserved and presented like "A Doll's House." Lacking experience of life in the real world and oblivious to the outdoor hardships, Nora is vulnerable. She enters muffled in protection from the outside, portrayed symbolically through her coat, scarf etc. Immediately, Nora appears childlike and coquettish. She orders Helene in an excitable tone to hide the Christmas tree as the children "mustn't see it till tonight." Nora's secretiveness   in wanting to hide the tree, extends further, and is a constant theme. Following Torvald's light- hearted interrogation with regard to whether she has had any macaroons, she becomes nervous and lies, "No Torvald, I promise...No No...Torvald I swear." Of course, this is particularly important as the entire play rotates around Nora's "big secret."   With the entrance of Krogstad, Nora's sense of fun abandons her. Her attempt to enforce her social superiority over him is genuinely intimidated. In her ambitious attempt to be superior she states "one isn't without influence". However, within moments she is forced into pleading "Mr. Krogstad, I don't have any influence." Nora's stereotyped roll as a doll confined to a doll's house constantly being fathered by Torvald encourages her childlike manner. However an entirely different contradicting side to Nora's character is revealed when Nora explains exactly what she did "for Helmer".   Although Nora is a woman who shirks or is probably unaware of her responsibilities (particularly with regard to her children who are under permanent care of Ann- Marie) here she has, apparently, fulfilled something of her duty as a wife.   Her personal attitude to her action, which in her mind saved "Torvald's life" is very childlike.

What Has Suddenly Made People Across the World Willing to Pay Three to Four Times More for a Cup of Coffee Than They Used to?

Topic: Topic Question No. 3, McDonald’s (from Week 12 case study ‘China’s Big Mac Attack’ ) and its strategic appreciation using SWOT analysis and its possible future developments -Introduction- This paper analyses possible development in McDonald’s’ future based on the strategic appreciation using SWOT analysis (Strengths, Weaknesses, Opportunities and Threats). Firstly, the paper briefly explains the outline of the case study. Secondly, it identifies the organisation’s current mission, objectives and strategies. Then the argument moves onto SWOT analysis. In this part, the paper analyses the environment in which McDonald’s is given, and the opportunities and threats are identified. The organisation’s resources are also analysed and it identifies strengths and weaknesses. In next chapter of the paper, it conjectures possible future strategies formulated within the organisation. Subsequently, the implementation of strategies is discussed. Lastly, the evaluation of results carried out by the organization concludes this paper. The case study entitled ‘China’s Big Mac Attack’ written by James L. Watson focuses on how McDonald’s – a leading American fast-food franchise – could accomplish to break down a barrier of Eastern Asian dietary habits and expand its franchisee territories. According to the case study, McDonald’s ought to be considered not only as an outstanding international mega-hamburger chain but also as a representative of the cultural message transmitted through Hollywood and other American culture. The author points out that even though McDonald’s franchises outside the United States are mostly operated and managed by non-American franchisees, its distinguishing double arches of McDonald’s always represent the United States of America as Stars and Stripes does. This fact shows both pros and cons, which are explained later on in this paper. In China, a rise of new middle classes and its single-child family policy accelerate the expansion of McDonald’s chain, which is also caused by a rise in the amount of money and attention lavished on children. This enormous social and cultural change is certainly a reason why McDonald’s managed to have become so prominent in China. This globalization (Westernization or in other words Americanization) has also caused new type of localization. Just as any other multinationals such as Nokia, Sony, General Motors and Starbucks, McDonald’s is no longer American company but Chinese, German, Brazilian, Indian and Japanese company. The detail is explained afterwards. It also must be noticed that McDonald’s has changed people’s behaviour in China e. g. lining up when they order or wait for meals. McDonald’s stunning strategy is not only exclusive in its franchise but also its unique management system. Hamburger University in Oak Brook, Illinois – McDonald’s world-wide management training center – is designed exclusively to instruct personnel employed by McDonald's Corporation or employed by McDonald’s Independent Franchisees in the various aspects of the business. (www. mcdonald’s. com) The author notices the importance of McDonald’s in China as a public space where local students and elderly gather and socialize. McDonald’s proudly shows its highly guaranteed food quality management. This trust also helped McDonald’s to become a dominant fast food chain in China. An imitation of brand image and products is considered to be harmful and aging population due to single-child family policy may well require McDonald’s to change its customer target segment. What’s McDonald’s’ current mission, objectives and strategies? Every organization holds its own mission, objectives and strategies – so does McDonald’s. McDonald’s was firstly founded in Illinois, the United States, in order to provide affordable meals to everyone anywhere. As the company grows, the company has continuously developed its brand image and moved its customer target segment onto children. (http://www. mcspotlight. org/media/press/index_mcds. shtml) The child-friendly atmosphere and its family-oriented space provided by McDonald’s has amazed substantial number of customers. McDonald’s greedily sought after its market overseas. According to the case study, McDonald’s today has more than 25000 outlets in 119 countries, and most of the corporation’s revenues now come from operations outside the United states, and a new restaurant opens somewhere in the world every 17 hours. Above all, it is most likely that McDonald’s current objective is to acquire the market share and pursue further establishment and standardization of its strong brand image. As strategies, recently McDonald’s rapidly expands its market share in developing countries as depicted in the case studies in China, Russia and East Europe and moreover India. It uses the image of a lighter side of American sub culture and represents a ‘gate to the world’ for customers mainly in developing countries. As to be shown in its clean toilet policy, shops are kept clean and they create a good family-friendly atmosphere. On the top of it, its strict food safe guarantee system is one of the stunning strategies of MacDonald’s. Mac’s child-friendly strategy is a key of its expansion strategy. American-style birthday parties, Ronald Room, toys and happy meals are concrete examples of the strategy. Also ‘localization’ policy must be noticed at this stage. James Cantalupo, the president of McDonald’s Corporation, remarks that his strategy is to become as much a part of local culture as possible and protests when people call McDonald’s a multinational or transnational. I like to call us multilocal,† he told The Christian Science Monitor in 1991. The another eminent strategy introduced by McDonald’s is ‘self-service’. Customers line up, self-seat and clean up by themselves. It facilitates customer rotation within shops and enables cost-saving shop keepings. SWOT analysis consists of an organisation’s strengths and weaknesses, and its e nvironmental opportunities and threats. SWOT analysis is useful to identify a strategic niche that the organization might exploit. [pic] Identifying the organization’s opportunities Firstly, the environment in which McDonald’s is given varies from place to place. Analysing the environment is a critical component of the strategy process since successful companies have a strategy that aligns well with the environment. Wherever people dwell in the world, there is always a demand for fast food restaurant. McDonald’s main consumer target, middle-classed family, is everywhere in any countries. Thinking of other competitors within the same market such as Hungry Jacks (Burger King), Jack in the Box and KFC, McDonald’s focuses more on the children as a target rather than the other age groups. This can differentiate McDonald’s from other fast food chains. The external environment seems to be best-suited to MacDonald’s. (see ‘opportunities in the environment’ in the above figure. ) Secondly, resources that McDonald’s acquires are well-known brand name, distinguishingly unique, safe and nutritious food, an abundant workforce supply due to its relatively easy manual work, and its strong franchising management system. As stated above, McDonald’s has achieved to build its powerful brand name over years and its trust, reputation and core customers are considered as precious assets of the company. The fact that anyone can open a new McDonald’s anywhere using its strong brand name facilitates its fast growth. Its original franchise management theory is also one of the resources McDonald’s owns. (see ‘organisation’s resources/abilities in the above figure. ) According to the environment and resources noticed above, the organisation’s opportunities are determined. (see ‘Organisation’s opportunities in the above figure. ) Positive American image is one of the positive external environmental factors. So is wide recognition of its brand image. But more importantly, an ease of access reasonable part-time workforce specializing manual work, the fact that it only needs limited ingredients available everywhere such as potato, chicken, etc should be remarked. Especially, in a developing country such as China, the radical social change can be an opportunity for McDonald’s. As noticed above, single-child policy and a rise of middle classes and a collapse of outdated Confucian family system resulted from rapid expansion of McDonald’s in China. On the contrary to this, there are some threats – negative external environmental factors. Being a representative of American cultural imperialism can be harmful when a strong Anti-Americanism outbreaks outside the U. S.. MacDonald’s in Mexico City, Rome, Macao, Rio de Janeiro, Prague, London, Jakarta and Beijing have been attacked and boycotted by protestors. Another environmental threat is its food safety. Mad Cow disease and Foot and Mouth disease caused a slaughter of thousands of livestock in Europe. The market has been immensely damaged including a supply chain of Mac’s ingredients. There is a big concern for franchisees of McDonald’s in China i. e. rapid aging population caused by single-child family policy. This rapid environmental change may well eventually force MacDonald’s to switchover its targeted customers to elderly people. The plagiarism of McDonald’s idea and strategies done by the competitors is also considered as a critical threat. Some fast food chains can be mighty rivals for McDonald’s if they tried to be more localized and lower the price. Strengths (activities the firm does well or resources it controls) of McDonald’s are its promotion strategy mainly focusing on children, being capable to provide the same menus, tastes and design of shops all over the world, and its strict quality control not only over food quality but also over quality of shops. A huge customer capacity and its fast rotation generate a massive amount of sales in a short time. Talking about weaknesses of McDonald’s, it is firstly pointed out that a typical image of McDonald’s is ‘junk food’. It means that the food obtained at McDonald’s is unhealthy, bad for diet, tasteless and low quality. As many can easily realize that McDonald’s cannot compete with luxurious cuisine restaurants in terms of its variety, taste, quality, nutrition and luxurious image. Those who care for health and weight may try to avoid McDonald’s due to its ‘junk food’ preconception. SWOT analysis and grand strategies Valuable strengths Critical weaknesses Abundant environmentalcritical environmental opportunities threats Now, based on the above-stated SWOT analysis, possible developments in the organisation’s future are outlined. According to the SWOT analysis, and other investigation into Mac’s activities, McDonald’s is currently implementing ‘Corporate Growth Strategies’ which is placed in the left above of the figure above. It is acquiring valuable strengths and abundant environmental opportunities. Since McDonald’s’ market share is rapidly growing, McDonald’s may well be taking corporate growth strategies until it reaches a maturity stage or moves onto a decline stage. McDonald’s is still one of the fastest growing companies and considered to be on a growth stage. The corporate strategies implemented by McDonald’s are still active and it will most likely hold current strategies in the future. By implementation of its strategies, McDonald’s will seek markets mainly in developing countries as its markets in developed countries are mostly saturated. Next possible destinations may include South-East Asia, Sub-continental region, South America and East Europe including Russia. It might firstly emphasis its American image initially then it will be eventually localized and integrated into each of the societies naturally as it is perfectly exemplified in China. -Conclusion- Consequently, the possible results, which McDonald’s will show are evaluated. This Mac type globalization is not exclusive to fast food chain. It is also observed in other industries, for example, computer and communication industries. McDonald’s is no longer small company, which is always influenced by the environment it is given but conversely, it can change and influence the environment itself. McDonald’s will continue to expand itself until people start becoming satiated with its tastes and image or a strong rival against McDonald’s emerges. But McDonald’s will probably change the strategies or its targeted customers in order to survive. Even if McDonald’s starts declining, the strategies used by McDonald’s will never be forgotten since they are one of the most prominent and effective management strategies ever to have been established. BIBLIOGRAPHY BOOK Robbins, S. , Bergman, R. , Stagg, I. , Coulter, M. , 2000. MANAGEMENT 2ND EDITION. NSW: Pearson Education Australia Pty Ltd. JORNAL Watson, J, W. , May-June 2000. ‘China’s Big Mack Attack’ Foreign Affairs. Pp. 120-134. WEB SITES http://www. mcdonalds. com/ http://www. media. mcdonalds. com/secured/index. html http://www. mcspotlight. org/media/press/index_mcds. shtml ———————– Corporate growth strategies McDonald’s Corporate stability strategies Corporate stability strategies Corporate retrenchment strategies Firm Status Environmental Status

Comparing of Financial Statement for Similar Companies

Introduction Freds, Belk, man-sized wads and dollar mark manoeuvre atomic moment 18 all famous manakin clove pink in United State. All of them provide variant and qualified goods to nodes. This analysis stem, discussing different pecuniary data based on the 10-K memorial of the quaternion companies, wants to give readers a signalizeificant describe to these companies so investors can wee-wee clear opinions to help decide. come with Profiles Freds, Inc. Freds) is to fit the worldwide sell and pharmacy inescapably of the small to medium- coat towns it serves by go a wider variety of quality trade and a more attractive outlay-to- range blood than either drug stores or smaller variety/dollar stores and a shopper-friendly dress which is more convenient than larger sized dis count ware stores. The caller-ups make barters of p harmaceuticals have a percentage of 33. 5% in 2010, 34. 1% in 2011, and 34. 9% in 2012, examine to the total revenue enhancem ent income gross revenue. And its major sales of opposites acknowledge households good and food products, etc. display that the company tries its best to consort its worry st hogegy. astronomical hemorrhoid, Inc. is a Fortune calciferol sell corpo symmetryn. The company is based in Columbus, Ohio, USA and actually operates over 1,400 stores in 47 states. Its discussion section stores focus chiefly on selling closeout and over expect swop. thither are whatsoever items in the stores, such(prenominal) as foodstuffs, that are replenished on a continual basis. Whats more, free lashings also operates a wholesale division, which provides merchandise in bulk for resale from a variety of categories.Financial teachingsBig Lots uses an existing building, such as a grocery or department store that had either moved or ceased ope dimensionns. dollar mark point, Inc. began its operations in 1953 and was corporal in Virginia. The company is an American set up of discount var iety stores that se lls every item for $1. 00 or less. The company tar pisss rugged to glower-middle income consumers and sells everyday products from food and personal accusation products to non-essentials. It sells its product in three moving in segments1) Consumable merchandise, which accounted for 48. % of its sales in 2011, 2) bod merchandise, which accounted for 46. 9% of 2011 sales, and 3)seasonal goods, explained 5% of 2011 sales. Belk, Inc. , together with its subsidiaries, is the largest in private owned mainline department store backup in the United States, with 303 stores in 16 states, as of the financial stratum ended January 28, 2012. Generated tax incomeations of $3. 7 billion for the fiscal year 2012, and together with its predecessors, have been successfully direct department stores since 1888. Belk Stores Services, Inc. , a supplemental of Belk, Inc. rovides a wide range of serve t o the Belk division transferices and stores, such as merchandising, me rchandise planning and al place, advertizement and sales promotion, in ashesation systems, human resources, worldly concern relations, account tale, real estate and store planning, credit, legal, tax, dispersal and purchasing. Accounting Policies (see present 1) All of the quadruplet companies are United State location so that part of their accounting policies are the same, but because the area location and business strategy, they have some different accounting policies.The four companies do non amortized grace and well-tried them for irregularity annually, exploitation an income burn up and a mart onward motion in find out fair treasure for purposes of saving grace outrage tests. All four of them report income taxes in accordance with FASB ASC 740, the plus and financial obligation mode is apply for calculation forthcoming income tax consequences of events . The major differences exist in revenue learning, merchandise inventories and Stock-based salary.B ased on their requirements, Freds records its sales when the merchandise is shipped from the Companys storage warehouse Dollar direct records sales revenue at the cartridge holder a sale is made to its customer Big Lots sales Revenue is recognize when the customer makes the final payment and takes self-denial of the merchandise and sales of Belk is put down at the time of delivery. Freds determines inventories at the lower of speak to or merchandise use the sell first -in, first-out method for goods in stores and the follow first -in, first-out method for goods in our diffusion centers. And the rest of hree companies values inventories at the lower of personify or commercialise apply the comely equal sell record method. Under the average personify retail history method, inventory is discriminate into departments of merchandise having similar characteristics at its current retail selling value. pull inability, Liquidity/Solvency (see Exhibit 2) If we psych o essay the current ratio and speedy ratio they are relatively small. So remunerative the short term debts mogul be a problem for the company as well as the fluidity is get decreased from year 2010 2012 as 1. 43 to 1. 23 to 0. 88.So it might be arduous for the company to stay with the current obligations. If we analyze the debt - faithfulness ratio seems to be in heightsschool end for the Belk, but it is gradually fall 1. 36, 1. 06 to 1. 03. This seems to be a good sign for the company. But still the ratio is high and need quite bit of puzzle out to get it down to an acceptable value. Freds roe keeps a ontogenesis from 5. 99% in 2010, to 7. 17% in 2011 then to 7. 89% in 2012 because its meshing edge increase from 1. 32% to 1. 61% and 1. 78%, respectively in 2011 and 2012, in the same time, its additions swage keeps a steadily level from 3. 20 to 3. 06, just a slightly decrease.Additionally, the rank brink just has a high change from 27. 92% in 2010, to 28. 66% in 2012 than pay margin. The inventory swage has a decrease from 4. 33 to 4. 15 respectively in 2010 and 2012, due to the cost of goods exchange increasing slower than inventory. Whats more, the current ratio and diligent ratio keeps falling down, and debt/equity ratio creates up during the 3 years, line of battleing that the debt increases faster than equity. Big Lots ROE continues to grow from 20. 01% in 2010 to 25. 15% in 2012. However, it s turn a profit margin and gross margin have been going downwards since 2010, displace to 3. 98% and 39. 9% respectively in 2012. Whats more, its current ratio and quick ratio have also decreased, the source one has slacked from 2. 069 in 2010 to 1. 721 in 2012, a nd the later one has slummed from 0. 72 to 0. 31, which indicate that the companys breed are more peeveden up in recent years. Through tho study, we found that the D-E ratio is increasing from 1. 208 in 2010 to 1. 704 in 2012, which presented the companys cutting financing strategy from resumeing, some another(prenominal) than acquiring capital from the shareholders. The ROE of Dollar tree increased rapidly from 22. 43% in 2010 to 27. 23% in 2011 and to 36. 32% in 2012. On examining the three omponents of ROE, the profit margin was 6. 3% in 2010 but in 2012 it increased at 7. 36%. In addition, its additions derangement maintains a steady growth. It was 2. 28 in 2010, 2. 47 in 2011 and 2. 85 in 2012. Over the three years, the debt -equity ratio also grows steadily. Besides, the current ratio and quick ratio of Dollar Tree in the past three years patently declined. That mostly resulted from the increasing debt and surging sales . Return on law roughly doubled from 2010 to 2011 as 6. 31% to 11. 33% and has a steady growth from 2011 to 2012 as 15. 30%. This implies remuneration Income increased and it is proportional to good increase in profit margins as from 2% to 3. 63% to the highest degree doubled from 2010 to 2011 and 4. 95% in 2012 which i s a steady growth. When we compare the original asset turnover in last 3 years seems to be decreasing, though it is 13. 1 in 2010 decreased significantly form 2011 and 2012 as 1. 14 and 1. 50 respectively. This might be due to competition from other department and specialty stores and other retailers, including opulence goods retailers, mail o rder retailers and offprice and discount stores. Opportunities/Threats Opportunities from the above, we get the idea that the variety store persistence has a good time during the some(prenominal) years.These four companies are keeping increase in profit and they have lower financial trauma so that they could borrow more money from banks and investors, which gives them more chances to execute expansion strategy more gettable cash from borrowing, better financial statement which can give more impudence to in vestors and higher return to embody the future development. Threats we should notice that most of the four companies have a higher gross margin increasing than profit margin, and a continuous lower inventory turnover.They show that these companies structures include threaten in the future. Whats more, the high debt means that the banks and investors tighten polices and requirements to the companies so their business and expansion will be influenced by investors. Meanwhile, the raising interest rat e of debt gives higher financial distress to the companies. Overall Assessment Retail effort is a highly competitive and propellant business to work with. So it necessitate to be change whenever it needs to be. here we can see that when one company doing well other companies are seek to stay in the race.If we analyze the overall challenges retail business facing is equal high Employee turnovers, also Auditing issues as they on a regular basis engaged in competition with one another, and this competition can creat e price wars, forcing a need to keep tight control over inventory, as the terra firma prospers and people have more money to spend, the retail industry generally flourishes. As for the companies we can see that Freds, Dollar tree and Belk is seems to be doing well in this challenging situations, but the Big Lotus is losing some ground as profit margins get lower as well as their funds getting tightens up.However when we see the COGS from each one company has a problem as COGS selling slower than the inventory, this might be hurting all four companies as if their items old they have to write off them and which might eventually losing money. Exhibit 1 Significant Accounting Policies Freds Revenue recognition Merchandise inventories Goodwill Stock-based compensation Income taxes Dollar tree Big Lots Belk gross sales are recorded when the merchandise is shipped from the Companys warehouse sales revenue at the time a sale is made to its customer Revenue is recognized when the customer makes the final payment and takes possession of the merchandise.Sales from retail operations are recorded at the time of delivery. set at the lower of cost or market using the retail first-in, first-out method for goods in our stores and the cost first-in, firstout method for goods in our dispersion centers. Stated at the lower of cost or market, determined on a weighted-average cost basis. Under the retail inventory method, the valuation of inventories at cost and the resulting gross margins are computed by applying a mensurable cost-to-retail ratio to the retail value of inventories. Valued at the lower of cost or market using the average cost retail inventory method. Under the average ost retail inventory method, inventory is segregated into departments of merchandise having similar characteristics at its current retail selling value. Valued using the lower of cost or market value, determined by the retail inventory method. Under the retail inventory method (RIM), the valuation of inventories at cost and the resulting gross margins Goodwill is not amortized and tried for impairmen t annually. Use an income approach and a market approach in ascertain fair value for purposes of grace loss tests. Goodwill is not amortized and tested for deterioration annually. Use an income approach and a market pproach in determining fair value for purposes of goodwill disadvantage tests. Goodwill is not amortized and tested for handicap annually. Use an income approach and a market approach in determining fair value for purposes of goodwill impairment tests. Goodwill is not amortized and tested for impairment annually. Use an income approach and a market approach in determining fair value for purposes of goodwill impairment tests. Uses the fair value recognition supply of FASB ASC 718, account for seam based compensation by using the grant employment fair value of share awards and the estimated number of shares that will at last be ssued in conjunction with each award. Recognizes all share-based payments to employees, including grants of employee stock opt ions, in the financial statements based on their fair values. Value and depreciate stock options with graded vesting as a individual(a) award with an average estimated life over the entire term of the award. Uses the fair value recognition provisions of FASB ASC 718, account for stock based compensation by using the grant date fair value of share awards and the estimated number of shares that will ultimately be issued in conjunction with each award. reports income taxes in accordance with FASB ASC 740,the asset and obligation ethod is used for computing future income tax consequences of events reports income taxes in accordance with FASB ASC 740,the asset and liability method is used for computing future income tax consequences of events reports income taxes in accordance with FASB ASC 740,the asset and liability method is used for computing future income tax consequences of events reports income taxes in accordance with FASB ASC 740,the asset and liability method is used for co mputing future income tax consequences of events Exhibit 2 Industry Ratio thickset 2012 Freds, Inc. 2011 doughability Return on equity 7. 89% 7. 17% 5. 99% 25. 15% 23. 50% 20. 01% 6. 32% 27. 23% 22. 43% 15. 30% 11. 33% 6. 31% Profit margin 1. 78% 1. 61% 1. 32% 3. 98% 4. 49% 4. 23% 7. 36% 6. 75% 6. 13% 4. 95% 3. 63% 2. 00% Gross margin 28. 66% 28. 61% 27. 92% 39. 79% 40. 63% 40. 61% 35. 87% 35. 49% 35. 49% 0. 33% 0. 33% 0. 32% Total asset turnover 3. 06 3. 16 3. 20 3. 169 3. 057 2. 831 2. 85 2. 47 2. 28 1. 5 1. 41 13. 1 A/R turnover 62. 61 64. 58 61. 93 42. 45 41. 39 40. 11 76. 42 78. 53 72. 33 104. 9 131. 3 118. 7 Inventory turnover 4. 15 4. 33 4. 33 3. 8 3. 86 4. 02 4. 2 4. 2 4. 1 2. 9 2. 97 2. 83 Short term liquidity flow ratio 2. 47 2. 91 2. 81 1. 721 1. 941 2. 069 2. 08 2. 5 2. 74 2. 51 3. 34 3. 32 0. 33 . 52 0. 57 0. 31 0. 53 0. 72 0. 59 1 1. 31 0. 88 1. 23 1. 43 0. 49 0. 40 0. 43 1. 704 1. 283 1. 208 0. 73 0. 63 0. 6 1. 03 1. 06 1. 36 Quick ratio bulky term solvency Debt/E quity ratio 2010 2012 Big Lots 2011 2010 2012 Dollar Tree 2011 2010 Belk. inc 2012 2011 2010 Profit Margin Return on Equity 40. 00% 35. 00% 30. 00% 25. 00% Freds, inc 20. 00% Big Lots 15. 00% Dollar Tree 10. 00% Belk. inc 5. 00% 0. 00% 2012 2011 8. 00% 7. 00% 6. 00% 5. 00% 4. 00% 3. 00% 2. 00% 1. 00% 0. 00% Freds, inc Big Lots Dollar Tree Belk. inc 2012 2010 2011 2010 Debt-to-Equity Ratio Inventory turnover 2. 00 5. 00 4. 00 Freds, inc 3. 00 Big Lots 1. 50 Freds, incBig Lots 1. 00 Dollar Tree Dollar Tree 2. 00 Belk. inc 1. 00 Belk. inc 0. 50 0. 00 0. 00 2012 2011 2010 2012 2011 2010 Exhibit 3 Income statement Fred,inc Statement of Income January 28, 2012 Net sales Cost of goods exchange 1879059 1340519 one C% 71. 34% Gross profit 538540 Depreciation and amortization degree centigrade% 71. 39% 1788136 1288899 speed of light% 72. 08% 28. 66% 527018 28. 61% 499237 27. 92% 34190 1. 82% 29236 1. 59% 26387 1. 48% Selling, general and administrative expenditures 453195 24. 12% 451064 24. 49% 434356 24. 29% operating(a) income divert income Interest expense 51155 -156 553 2. 72% -0. 01% 0. 03% 46718 -234 424 2. 54% -0. 01% 0. 02% 38494 -189 82 2. 15% -0. 01% 0. 03% Income before income taxes 50758 2. 70% 46528 2. 53% 38201 2. 14% Provision for income taxes 17330 0. 92% 16941 0. 92% 14586 0. 82% 33428 1. 78% 29587 1. 61% 23615 1. 32% $ $ January 30, 2010 1841755 1314737 Net income $ January 29, 2011 $ $ $ Big Lots, Statement of Income January 27, 2012 Net sales Cost of goods sold Gross profit Selling, general and administrative expenses some other Operating Expense Operating income $ January 28, 2011 5,202,269. 00 3,131,862. 00 2,070,407. 00 one hundred. 00% 60. 20% 39. 80% 1,634,532. 00 January 29, 2012 4,952,244. 00 2,939,793. 00 2,012,451. 00 100. 00% 59. 36% 40. 64% 31. 42% 1,567,500. 0 90,280. 00 1. 74% 345,595. 00 6. 64% $ 4,726,772. 00 2,807,466. 00 1,919,306. 00 100. 00% 59. 39% 40. 61% 31. 65% 1,532,356. 00 32. 42% 78,606. 00 1. 59% 74,904. 00 1. 58% 3 57,345. 00 7. 22% 325,010. 00 6. 88% $ Earnings out front Interest And revenuees Interest Expense 345,422. 00 6. 64% 357,957. 00 7. 23% 325,185. 00 6. 88% 3,530. 00 0. 07% 2,573. 00 0. 05% 1,840. 00 0. 04% Income Before evaluate 341,892. 00 6. 57% 355,384. 00 7. 18% 323,345. 00 6. 84% Income Tax Expense 134,657. 00 2. 59% 132,837. 00 2. 68% 121,975. 00 2. 58% Net income 207,064. 00 3. 98% 222,524. 00 4. 49% 200,369. 00 4. 24% Dollar Tree, Statement of Income January 28,2012Revenues $ January 29,2011 Selling and admistrtive expense 64. 13% 35. 87% 3,794. 8 2,087. 60 1,596. 2 Gross margin 100% 4252. 2 2378. 3 cost of sales 6630. 5 $ 5882. 40 24. 07% 1,457. 60 100% January 30,2010 $ 5,231. 20 100% 64. 51% 35. 49% 3,374. 40 1,856. 80 64. 51% 35. 49% 24. 78% 1,344. 00 25. 69% Restructing charges Goodwill impairment intangible and other asset impairment operating expense $ 1,596. 2 24. 07% operating income interest expense interest income other income 782. 1 2. 9 0. 3 11. 80% 0. 04% Income before income taxes Net income $ 1,457. 60 24. 78% 10. 71% 0. 10% 0. 00% 630 5. 6 5. 5 779. 5 ncome taxes $ 11. 76% 291. 2 488. 3 4. 39% 7. 36% 1344 25. 69% 9. 80% 0. 10% -0. 10% 512. 8 5. 2 629. 9 $ $ 10. 71% 507. 6 9. 70% 232. 6 397. 3 3. 95% 6. 75% 187. 1 320. 5 3. 58% 6. 13% $ Belk, Statement of Income 2012 2011 Revenues 3,699,592 100% Cost of goods sold (Including occupancy, distribution and buying $ expenses) 2,461,515 66% 938008 2012 3513275 100% 2353536 66% 25% 914078 3143 0. 08% 2302 - Operating income Interest expense Interest income Loss on extinguishment of debt Gain on investments Income before income taxes Income tax expense Net income Gain on sale of property and equipment Asset impairment and exit costsPension curtailment charge $ 100% 2271925 68% 26% 886263 26% 6416 0. 18% 2011 0. 06% 0. 06% 0. 00% 6096 0. 17% 0. 00% 39915 2719 1. 19% 0. 08% 300190 Selling, general and administrative expenses 3346252 8. 11% 245981 7. 00% 147441 4. 41% -50218 328 -922 25 0098 66950 183148 -1. 35% 0. 01% 0. 02% 0. 00% 0. 0676 1. 80% 0. 0495 -50679 569 195871 68243 127628 -1. 44% 0. 02% 0. 00% 0. 00% 0. 0557 1. 94% 0. 0363 -51321 1027 43 97190 30054 67136 -1. 53% 0. 03% 0. 00% 0. 00% 0. 029 0. 89% 2 $ $ $ $ Exhibit 4 Balance Sheet Freds,inc Balance Sheets January 28, 2012 January 29, 2011 January 30, 2010 January 31, 2009 ASSETS occurrent assets coin and cash equivalents 27130 4. 29% 49182 8. 26% 54742 9. 58% Account Receivables Inventories 31883 331882 5. 04% 52. 51% 28146 313384 4. 73% 52. 62% 28893 294024 otherwise non-trade receivables 32090 5. 08% 26378 4. 43% Prepaid expenses and other current assets Total current assets 12321 435306 1. 95% 68. 88% 12723 429813 Property and equipment 161112 25. 49% 139931 Equipment down the stairs capital leases 97 0. 02% Intangible assets, loot 32191 5. 09% 22193 3. 73% 16035 2. 81% 9042 1. 66% Other noncurrent assets, net Total assets $ 3276 631982 0. 52% 100% $ 3591 595528 0. 60% 100% $ 4040 571441 0. 71 % 100% $ 4442 544775 0. 82% 00% LIABILITIES AND SHAREHOLDERS EQUITY Current liabilities Accounts payable $ 106886 16. 91% $ 81002 13. 60% $ 87393 15. 29% $ 69955 12. 84% 658 0. 10% 201 0. 03% 718 0. 13% 243 0. 04% Current portion of indebtedness $ $ $ $ 35128 6. 45% 5. 06% 51. 45% 28857 301537 5. 30% 55. 35% 25193 4. 41% 15782 2. 90% 2. 14% 72. 17% 10945 413797 1. 92% 72. 41% 11912 393216 2. 19% 72. 18% 23. 50% 137569 24. 07% 138036 25. 34% 39 Accrued expenses and other 44876 7. 10% 45371 7. 62% 39621 6. 93% 46659 8. 56% Deferred income taxes 23878 3. 78% 21142 3. 55% 19373 3. 39% 13061 2. 40% Total current liabilities 176298 27. 90% 147716 24. 80% 147105 5. 74% 137667 25. 27% Long-term portion of indebtedness 6640 1. 05% 3969 0. 67% 4179 0. 73% 4866 0. 89% Deferred income taxes 5633 0. 89% 2069 0. 35% 2009 0. 35% 1328 0. 24% Other noncurrent liabilities Total liabilities 19799 208370 3. 13% 32. 97% 17886 171640 3. 00% 28. 82% 17209 170502 3. 01% 29. 84% 13833 157694 2. 54% 28. 95% Common stock, Class A voting, no par value 105384 16. 68% 131367 22. 06% 131685 23. 04% 136877 25. 13% Common stock, Class B nonvoting, no par value Retained cabbage 317364 50. 22% 291649 48. 97% 268350 46. 96% 249141 45. 73% Accumulated other comprehensive income 864 0. 14% 872 0. 15% 904 0. 16% 1063