Language, Identity and Social Acceptance in Hal Borland’s Novel, When the Legends Die :: When Legends Die

Language as the Key to Identity and Social Acceptance in Hal Borlands Novel, When the Legends DieIn the world today, party people are identified by the way they look or act they are in addition accepted into society based on this criteria. However, in literature, one cannot be identified or judged on these aspects, these observations must be created solely from the way the graphic symbol speaks. This shows that James Baldwin was correct in his 1979 essay when he stated that language is a key to identity and social acceptance. This observation can be seen in the novel When the Legends Die by Hal Borland.When the Legends Die is a novel close a boy, doubting Thomas, growing into a man. There are a variety of characters in this novel and without their different styles of speaking, the reader would not be able to tell them apart. One example of identifying a character by what they say is a man named Blue Elk. Blue Elk was an extremely greedy Ute Indian. He would do anything, including sending other Native Americans to live on reservations, where they were miserable, to make easy money. So, in When the Legends Die when a reader sees a character talking nearly how much money he made, or who he has conned lately he or she knows that the character is Blue Elk. Another example of recognizing a character by their speaking style is a man named Meo. Meo was a bronco rider when he was younger and now he helps in training Thomas to become a champion rider. Meo also grows beans and loves making chili. He is always talking about the old days before his injury that ended his riding career, and how to make the perfect chili. So, once again, it is easy for the reader to recognize who is speaking by what he or she is talking about.Social acceptance is also a large point made in the novel. Thomas grew up as a Ute Indian and eventually became a bronco rider in rodeos. It is obvious that social acceptance is dependent on language because Thomas much change everything about himsel f to be accepted by the white riders. He was obligated to speak differently and he could not express his feelings in the way he was brought up. Thomas could not express himself freely because he had grown up singing traditional Ute hymns with his mother to show their feeling, and he was not allowed to do that anymore.

The Role of Chorus in Euripides Medea Essay -- Euripides Medea Essays

The Role of Chorus in Medea   In section 18 of the Poetics Aristotle criticizes Euripides for not allowing the chorus to be one of the actors and to be a part of the square and to share in the dramatic action, . . . as in Sophocles. Aristotle may be thinking of the embolima of Euripides later plays (satirized also by Aristophanes), but he is certainly malign about the Medea. Its choral odes are not only all intimately related to the action but are also essential for the meaning of the play, in particular because here, as elsewhere (e.g. Hecuba), Euripides forces us reevaluate his main protagonist in midstream and uses the chorus (in part) to indicate that change.   In her first speech Medea wins over the chorus by a plea to solidarity in the face of womens victimization by a male-dominated society, and this response by the chorus is an essential step in the poets paradoxical designate of winning sympathy and understanding for a mother who kills her children. But as that first speech itself indicates, Medea both is and is not a typical (Greek) woman she is a foreig...

Nikola Tesla Essay -- essays papers

Nikola TeslaMy great grandmother was born on September 30, 1895 in Strum, Wisconsin, and used to tell us the most important invention for the home, in her lifetime, was the clothes washing machine. Now history always seems to make the present era seem more civilized, when in fact, it is probably only cleaner, thanks to my grandmothers best-loved invention. But, I wonder if it is easier. Certainly, there were many patents issued in the 1880s for inventions that truly would change the lives of future generations, and a handful of these amazing contrivances would have a great clashing on that which is truly important to an industrialized nation the machinery that speeds business, business being the true backbone of a country, but to a country girl whose family depended on farming, the clothes washing machine still stands out as the one that saved her the most time.So this essay will delve into the era of the 1880s and center on one of the most important inventors that ever lived, Ni kola Tesla. Many business machines were patented before Nikola Tesla patented the alternating-current electromagnetic motor in 1888 (while the popular doubting Thomas Edison was stubbornly clinging to direct-current motors), but soon more and more inventors were realizing this new source of harnessed power could bring first-class miracles to business, thus providing them with even more glorious profits. But first, the washing machine, truly in honor of my great grandmother, who will be 105 years old this year.Before the days of washing machines, bulk got dirt out of their clothes by pounding them on rocks and washing the dirt away in streams. Sand was used as an abrasive to eject the dirt. Soap was discovered at Romes Sapo Hill where ashes containing the fat of sacrificial animals were found to have good cleaning powers. The earliest washing machine - the scrub identity card - was invented in 1797. In 1874 William Blackstone, a Bluffton, Indiana merchant and manufacturer of cor n planters, built a birthday present for his wife. It was a machine that removed and rinse away dirt from clothes. It consisted of a wooden tub in which there was a flat piece of wood containing six small wooden pegs. The internal mechanism looked something like a small milking stool. It was moved back and forth by means of a handle and an arrangement of gears. Dirty clothes were snagged on the wooden pegs an... ...ed to place his untested theories into countless notebooks. The man who invented the modern world died nearly penniless at age 86 on January 7, 1943. More than devil thousand people attended his funeral. In his lifetime, Tesla received over 800 different patents. He probably would have exceeded Edisons record number if he wasnt always stone-broke - he could afford very few patent applications during the last thirty years of his life. Unlike Edison, Tesla was an original thinker whose ideas typically had no precedent in science. Unfortunately, the world does not f inancially reward people of Teslas originality. We only award those that take these concepts and turn them into a refined, useful product. BibliographyCheney, Margaret, Tesla Man Out of Time (Dell Publishing, 1981)Tesla, N., galvanizing Experiment (1919)Tesla, N., The Strange Life of Nikola Tesla (unknown publishing date or place used) Book actually red on web pagewww.neuronet.pitt.edu/biodam/tesla/tesla.pdfwww.neuronet.pitt.edu/bogdam/tesla/bio.thmwww.neuronet.pitt.edu/bogdam/tesla/chicago.htmwww.neuronet.pitt.edu/bogdam//tesla/niagara.htmwww.neuronet.pitt.edu/biodam/tesla/tesla.pdf

Evolution vs. Creationism Essay -- essays research papers

People are always arguing over which theory is true, growth or creationism. The theory of evolution has a lot to do with natural selection. Natural selection is when the individual with the best traits survives, and passes on their good traits to their offspring. Those offspring clear more individuals with those strong traits, and eventually all of the species will have those strong traits. This means that if this cycle is carried on long enough, it will result in changes in a population, eventually resulting in a new species. Darwin thinks all life forms have descended from a common species in ancient times. Creationism believes that all creatures and life forms were created in their current state. Creationism believes that God created the earth and everything on it, the animals, the mountains, the oceans, the plants, and the people. It says that God created the creatures to fulfill their place in existence. In other words, God created creatures to only do the personal credit lin e needed. He didnt create creatures for no reason every creature has a meaning on the earth. Also, God changes animals according to what they need over time. So, if a creature needed to swim to survive better, God just changed that creature so it could swim. Creationism follows exactly what the bible says. I personally support the theory of evolution. In the struggle for survival, the fittest win out at the expense of their rivals because they succeed in adapting themselves best to their environment (Cha...

Is Globalisation a Myth or a Fact? Essay -- essays research papers fc

The term globalization describes the process of becoming worldwide in arena or application, and the increasing interdependency of nation-sates. At least - that gives us iodine loose definition for globalisation, but as Scholte (2000) realises, globalisation is a thoroughly contested subject, with arguments extend across the issue of definition as well as measurement, chronology, explanation and normative judgement. In fact, Scholte identifies five contrasting definitions for the word globalisation as procedured by a number of the subjects commentators and critics - internationalisation, liberalisation, universalisation, western/modernisation and deterrioralisation are (2000 13).In choosing a definition of globalisation, one is also selecting how they wish to interpret it, and what points they wish to convey. For example, the choice of western/modernisation leads to a view that globlisation sees the economically and politically fibrous west globalising the rest of the world, whil st universalisation leads to a more neutral stance, taking its root from the dictionary definition of the word gloalise, meaning to universalise.To judge whether or non globalisation is a myth or fact therefore requires the full understanding of what the term means to its critics and advocates, and in which ways they belive it to be myth of fact. Giddens simplifies the debate into devil main schools - the sceptics and the radicals. A radical himself, he writes that "According to the sceptics, all the talk about globalisation is entirely that - just talk" whilst "The radicals argue that not only is globalisation very real, but that its consequences can be seen everywhere" . Sceptics are seen by Giddens to hold a politicially left view, with their argument that globlaisation is "put about by free-marketeers who wish to dismantle welfare systems and cut back on state expenditure" (1999 7-8). Key to his own argument, Giddens realises that globlisation is not j ust economic, but also political, proficient and cultural.It appears that some sceptics of globalisation take their definition of the word not as a verb but as the resulting noun, globalised. The argument is that globalisation does not exist because were not living in a fully globalised world. For example, economists may argue that we are not living in a total global economy and use this as pro... ...hat globalisation doesnt exist. In fact, they do quite the opposite - they illustrate various ways in which the economy has become more global everywhere the years.Through the literal meaning of globalisation (an act or process), suggesting that globalisation is a myth is ludicrous. Globalisation is the process of becoming worldwide in scope or applicaing and the increasing interdependency of nation-states. It is a commonly accepted definition of globalisation that is required to put an end to some rather pointless debate. With much(prenominal) a definition in place it is then possi ble to start truly analysing globlisation - looking at why its happening, what its leading to and in which ways its acting. A current fully globalised world is a myth, globalisation is not.Bibliography===============Cohen & Kennedy (2000) Global Sociology, MacMillan BasingstokeGermain, R (2000) Globalisation and its Critics, MacMillan BasingstokeGiddens (1999) Runaway World, Profile Books LondonHelt et al (1999) Global Transformations, polity Press CambridgeRosenberg (2000) The Follies of Globalisation Theory, Verso LondonSchulte (2000) Globalisation a Critical Introduction, MacMillan Basingstoke

Is Globalisation a Myth or a Fact? Essay -- essays research papers fc

The border globalisation describes the process of becoming worldwide in mount or application, and the increasing interdependency of nation-sates. At least - that gives us one loose definition for globalisation, but as Scholte (2000) realises, globalisation is a thoroughly contested subject, with arguments extend across the issue of definition as well as measurement, chronology, explanation and normative judgement. In fact, Scholte identifies five contrasting definitions for the word globalisation as use by a number of the subjects commentators and critics - internationalisation, liberalisation, universalisation, western/modernisation and deterrioralisation are (2000 13).In choosing a definition of globalisation, one is also selecting how they wish to interpret it, and what points they wish to convey. For example, the plectrum of western/modernisation leads to a view that globlisation sees the economically and politically powerful west globalising the rest of the world, whilst u niversalisation leads to a more neutral stance, taking its root from the dictionary definition of the word gloalise, meaning to universalise.To judge whether or non globalisation is a myth or fact therefore requires the full understanding of what the term means to its critics and advocates, and in which ways they belive it to be myth of fact. Giddens simplifies the debate into two main schools - the sceptics and the radicals. A radical himself, he writes that "According to the sceptics, all the talk some globalisation is only that - just talk" whilst "The radicals argue that not only is globalisation very real, but that its consequences can be seen everywhere" . Sceptics are seen by Giddens to hold a politicially left view, with their argument that globlaisation is "put about by free-marketeers who wish to dismantle welfare systems and cut back on state phthisis" (1999 7-8). Key to his own argument, Giddens realises that globlisation is not just economic, but also political, technological and cultural.It appears that some sceptics of globalisation take their definition of the word not as a verb but as the resulting noun, globalised. The argument is that globalisation does not exist because were not living in a fully globalised world. For example, economists may argue that we are not living in a total global economy and use this as pro... ...hat globalisation doesnt exist. In fact, they do quite the opposite - they illustrate different ways in which the economy has become more global over the years.Through the literal meaning of globalisation (an act or process), suggesting that globalisation is a myth is ludicrous. Globalisation is the process of becoming worldwide in scope or applicaing and the increasing interdependency of nation-states. It is a commonly accepted definition of globalisation that is required to put an end to some rather pointless debate. With such a definition in place it is then possible to start very analysing globlisation - looking at why its happening, what its leading to and in which ways its acting. A current fully globalised world is a myth, globalisation is not.Bibliography===============Cohen & Kennedy (2000) Global Sociology, MacMillan BasingstokeGermain, R (2000) Globalisation and its Critics, MacMillan BasingstokeGiddens (1999) Runaway World, Profile Books LondonHelt et al (1999) Global Transformations, Polity Press CambridgeRosenberg (2000) The Follies of Globalisation Theory, Verso LondonSchulte (2000) Globalisation a Critical Introduction, MacMillan Basingstoke

Term Paper of Dbbl

Introduction To finance their spendments securelys use well-kept dough, new borrowings or the f ar of stock. The financing decision involves i) dividend and ii) the uppercase social organisation. Dividend insurance involves the decision to pay out pay versus covering them for reinvestment in the soused, and dividend policy decisions scum bag cause either favorable or unfavorable effects on the price of a buckrams stock. Cash distributions be made to stockholders form the pie-eyeds earnings, whether those earnings were generated in the current period or in prior periods. Origin of the ReportDuring this semester of Summer 2010 in MBA program of East West University, we are required to stash a charge a bourn paper in the course Corporate Finance An Appraisal of Dividend insurance policy and working capital Structure of An Organization. We have chosen PRAN for our term project. Objectives of the Report The general objective is to prepare and submit the term project wi thin specified time by having an idea and over viewing the PRAN, their Dividend Policy and their Capital Structure. Scope of the Report The scope is limited to over viewing PRAN their dividend policy and the Capital Structure they have adopted for their organization.Limitations of the Study Secondary selective information were used in this study as result it whitethorn differ from actual data. As a group, we have also nervusd some difficulties in compiling and discussing it due to unavailability of from each one members at the same time. The absence of solid and verse knowledge about dividend policy is absent and we have taken it as an addition in our learning curve. Methodology The report is originated from secondary data sources- 1. The Companys Annual Report 2. DES website 3. Different Articles from moolah 4. Other related websitesCompany Profile PRAN PRAN stands for Programme for Rural Advancement Nationally. PRAN is currently the most well known household name among the m illions of the great unwashed in Bangladesh and oversea also. Since its inception in 1980, PRAN Group has grown up in stature and became the largest fruit and ve eviscerateable processor in Bangladesh. It also has the distinction of achieving prestigious enfranchisement like ISO 90012000, and being the largest exporter of processed agro products with compliance of HALAL & HACCP to more than 70 countries from Bangladesh.PRAN is the pioneer in Bangladesh to be involved in contract farming and procures vulgar material directly from the farmers and processes through state of the art machinery at our several featureories into hygienically packed food and drinks products. The brand PRAN has established itself in e rattling folk of food and beverage industry and git boost a product range from Juices, Carbonated Drinks, Confectionery, Snacks, and Spices to even Dairy products.Today, our consumers not only value PRAN for its genuine refreshing juice drinks products, but also for its mo uth watering quality confectionery products with high visual appeal and exciting texture. We intend to expand our heraldic bearing to every corner of the world and strive to make PRAN a truly international brand to be recognized globally. The authorized capital of PRAN is BDT 50,000,000 and paid up capital is BDT 8,000,000. The pro package is given below Share Percentage Director /Sponsor Govt. Institute Foreign Public 42. 75% 0% 1. 27% 0% 55. 98% pic Dividends Dividend is that part of the profits of a order which is distributed amongst its shareholders. jibe to ICAI, Dividend is a distribution to shareholders out of profits or reserves available for this purpose. In new(prenominal) words we can say that a throne makes Dividend payments to its shareholder. It is the portion of corporate profits paid out to its stockholders.When a corpo balancen earns a profit at the end of a financial year, that profit can be uses by two different ways it can either be re-invested in the v exation or it can be paid to the shareholders as a dividend. Many corporations go along a portion of their earnings and pay the remainder as a dividend. Dividend Policy and Stock appreciate There are various theories that try to explain the relationship of a firms dividend policy and common stock value. Dividend policy is the policy a society uses to decide how much it exit pay out to shareholders in dividends. A firm has different preferences to deal with its earnings.It can give all their earnings as dividend or it can retain all its earnings as retained earnings. The firm can also declare a portion of its earnings as dividend and can retain other portion as retained earnings. Dividends may be in the form of coin or stock. almost secure and stable companies offer dividends to their stockholders. Their share prices might not move much, but the dividend attempts to make up for this. High-growth companiesrarely offer dividends because all of their profits are reinvested to hel p sustainhigher(prenominal)(prenominal)-than-averagegrowth. Dividend Relevance TheoryThe value of a firm is affected by its dividend policy the best dividend policy is the one that maximize the firms value. Optimal Dividend Policy Proponents believe that there is a dividend policy that strikes a balance between current dividends and future growth that maximizes the firms stock price. Dividend ir relevance Theory The surmise states that a firms dividend policy has no effect on either its value or its cost of capital. Bird-in-the-Hand Theory It states that dividends are relevant. Remember that total return (k) is equal to dividend yield plus capital gains.Myron Gordon and John Linter took this equation and assumed that k would decrease as a companys payout increase. As such, as a company increases its payout ratio, investors become concerned that the companys future capital gains will dissipate since the retained earnings that the company reinvests into the business will be less. G ordon and Linter argued that investors value dividends more than capital gains when making decisions related to stocks. In this possibleness the bird in the hand is evokering to dividends and the bush is referring to capital gains.The traditional competition in prefer of dividend is the idea that dividends reduce risk because they bring shareholders capital inflows forward. Although shareholders can create their own dividends by selling part of their holdings, this entails trading costs, which are saved when the firm pays dividends. The risk reduction or bird in the hand argument is associated with Graham and Dodd (1951) and with Gordon (1959) and it is often defended as follows. By paying dividends the firm brings forward cash inflows to shareholders, thereby reducing the uncertainty associated with future cash flows.In terms of the discounted dividend equation of firm value, the idea is that the required rate of return demanded by investors (the discount rate) increases with the plough-back ratio. Although the change magnitude earnings retention brings about higher expected future dividend, this additional dividend stream is more than offset by the increase in the discount rate. This argument overlooks the fact that the risk of the firm is determined by its investment decisions and not by how these are financed.The required rate of return is influenced by the risk of the investments and should not change if these are financed from retained earnings rather than from the proceeds of new right issues. As noted by Easterbrook (1984), in spite of paying dividends the firm does not withdraw from risky investments, thus the risk is merely transferred to new investors. Reasons for Paying Dividends 1. Clientele Effect The investors in your company like dividends. 2. The Signaling paper Dividends can be signals to the market that you believe that you have good cash flow prospects in the future. 3.The Wealth Appropriation Story Dividends are one way of transfer ring wealth from lenders to equity investors (this is good for equity investors but bad for lenders) Types of Dividend Policies 1. Constant-Payout- proportionality Constant-Payout-Ratio is a dividend policy based on the payment of a certain percentage of earnings to owners in each dividend period. The puzzle with this policy is that if the firms earnings drop or if a loss occur, the dividend may low or nonexistent. 2. regular Dividend Policy Regular Dividend Policy is a dividend policy based on the payment of fixed amount of dividend in each period.It provides the owners with positive information, thereby minimizing their uncertainty. 3. confused Regular and Extra Dividend Policy Low regular and Extra Dividend Policy refers to a dividend policy based on paying low regular dividend, supplemented by additional dividend when earnings are higher than normal in a given period. Nature of Dividend Decision The dividend decision of the firm is crucial for the finance motorcoach because it determines 1. The amount of profit to be distributed among the shareholders, and 2. The amount of profit to be retained in the firm. There is a reciprocal relationship between cash dividends and retained earnings.While taking the dividend decision the management take into account the effect of the decision on the maximization of shareholders wealth. Maximizing the market value of shares is the objective. Dividend pay out or retention is guided by this objective. Factors Affecting Dividend Policy A. External Factors B. Internal Factors A. External Factors Affecting Dividend Policy 1. General State of Economy In trip of uncertain economic and business conditions, the management may like to retain whole or large part of earnings to build up reserves to absorb future shocks.In the period of depression the management may also retain a large part of its earnings to preserve the firms liquidity position. In periods of prosperity the management may not be liberal in dividend payments be cause of availability of larger profitable investment opportunities. In periods of inflation, the management may retain large portion of earnings to finance replacement of obsolete machines. 2. State of Capital grocery store Favorable Market liberal dividend policy. Unfavorable market buttoned-down dividend policy. 3. Legal Restrictions Companies Act has laid down various restrictions regarding the declaration of dividendDividends can only be paid out of Current or past profits of the company. A company cannot declare dividends unless It has provided for present as well as all arrears of depreciation. Certain percentage of net profits has been transferred to the reserve of the company. Past-accumulated profits can be used for declaration of dividends only as per the rules framed by the Central Government 4. Contractual Restrictions Lenders sometimes may put restrictions on the dividend payments to comfort their interests (especially when the firm is experiencing liquidity problem s) B.Internal Factors affecting dividend decisions 1. Desire of the Shareholders Though the directors decide the rate of dividend, it is always at the interest of the shareholders. Shareholders expect two types of returns i Capital Gains i. e. , an increase in the market value of shares. ii Dividends regular return on their investment. Cautious investors look for dividends because, i It reduces uncertainty (capital gains are uncertain). ii Indication of financial strength of the company. iii Need for income Some invest in shares so as to get regular income to meet their living expenses. . Financial Needs of the Company If the company has profitable projects and it is costly to raise funds, it may decide to retain the earnings. 3. Nature of earnings A company, which has stable earnings, can afford to have a higher divided payout ratio 4. Desire to retain the control of management Additional public issue of share will dilute the control of management. 5. Liquidity position Payment of dividend results in cash outflow. A company may have adequate earning but it may not have sufficient funds to pay dividends. Apprising Dividend Policy of PRAN Year NI EPS Dividend Per Dividend Payout Ratio (in Millions) Share 2000 33. 76 42. 20% 20. 00% 47. 39% 2001 41. 99 52. 49% 20. 00% 38. 10% 2002 43. 41 54. 26% 25. 00% 46. 07% 2003 44. 39 55. 49% 24. 00% 43. 25% 2004 40. 31 50. 39% 24. 00% 47. 3% 2005 40. 77 50. 96% 26. 00% 51. 02% 2006 28. 95 36. 19% 26. 00% 71. 84% 2007 29. 33 36. 66% 26. 00% 70. 92% 2008 35. 95 44. 94% 28. 00% 62. 31% 2009 39. 97 49. 96% 29. 00% 58. 05% Table 1 From the table 1 we see that in 2000 and 2001 PRAN have paid a cash dividend of BDT 20 per share in 2000 and 2001 in 2002 the dividend payment was BDT 25 per share.In 2003 to 2004 and 2005 to 2007 they have paid a cash dividend of BDT 24 and BDT 26 per share respectively. In the year 2008 and 2009 the cash dividend per share was BDT 28 and 29 respectively. Here we see that the dividend has increased in last two year, although the Net Income of the company decreased. However the EPS has also increased during the last two years and the same pattern can be seen in the Market legal injury of the share. pic Figure 1 From figure 1 we can say that the dividend payment of the PRAN is certain and stable, regardless with earnings.As we see that despite of a drop in the earning in the year 2006 and 2007 the company maintained a constant cash dividend payment which is BDT 26 per Share and when the earnings increased in the year 2008 and 2009 the Dividend payment also increased. pic Figure 2 The Dividend payout ratio indicates the percentage of each unit earned that a firm distributes to the owners in form of cash Dividend Payout Ratio = Dividend Per Share Earnings Per Share If we look at the figure 2 we see that to maintain a steady dividend payment per share each year they had to make a huge payment out of the Net Income. In 2006 and 2007 the dividend payout ratio was ab ove 70% and in 2008 and 2009 it was above 58%. According to the Regular Dividend Policy the payment of the dividend is a fixed amount in each period. The Regular Dividend Policy also tries to establish to pay out a certain percentage of earnings, however it tries to stabilize the dividend by pay out a certain amount of dividend and it adjusts the dividend towards the target payout as proven earnings increases.In curt we can say that PRAN is following the Regular Dividend Policy Constrains of Regular Dividend Policy If we have a look at the figure 1 we see that the earnings of PRAN fluctuates year to year for this Regular dividend policy may sometimes prove dangerous. Once a company adopts the regular dividend policy, any unfavourable change in the dividend payment may result in serious damage regarding the financial standing of the company in the mind of the investors. The same problem is been experienced by PRAN despite of a drop in the earnings that they had to maintain the same amount of dividend.Appropriate type of Dividend Policy A Stock market tends to be very cost-effective in the allocation of capital to its highest-value users. That market also helps increase savings and investment, which are essential for economic development. An equity market, by allowing diversification across a variety of assets, helps reduce the risk the investors must bear, thus reducing the cost of capital, which in turn spurs investment and economic growth. However, volatility and market talent are two important features which will ultimately determine the soundness of the stock market in economic development.In contrast to that the stock market of Bangladesh which is informationally inefficient, investors face difficulty in choosing the optimal investment as information on corporate performance is slow or less available. The resulting uncertainty induce investors either to withdraw from the market until this uncertainty is resolved or discourage them to invest funds for long term. Moreover, most of the time it is seen that investors are not rewarded for taking on higher risk by investing in the stock market, or excess volatility weakens investors confidence as a result they people avoid investing their savings in the stock market.Due to the imperfect market and the uncertainty of return the investors always aim for short term investment as a result they prefer dividend rather maximizing the firms wealth. The regular dividend policy, which ensures a fixed amount of dividend to be paid to the investor regardless to the companys income during the period, helps to reduce the uncertainly for the investors. For this the Regular Dividend Policy is the appropriate for PRAN. Year Net Asset Value Per EPS Dividend Per Share Bonus Share Market Price Per Share Share 2000 258. 39 42. 20% 20. 00% - 416. 50 2001 284. 60 52. 49% 20. 00% - 370. 00 2002 312. 82 54. 26% 25. 00% - 366. 00 2003 343. 9 55. 49% 24. 00% - 412. 00 2004 362. 27 50. 39% 24. 00% - 52 3. 50 2005 386. 55 50. 96% 26. 00% - 519. 25 2006 396. 11 36. 19% 26. 00% - 386. 00 2007 383. 91 36. 66% 26. 00% - 382. 63 2008 428. 9 44. 94% 28. 00% - 1142. 00 2009 449. 96 49. 96% 29. 00% - 1363. 00 Net Asset Per Share Vs. Market Value Per Share Table 2 From the table 2 we can say that PRAN has never issued any Bonus shares from 2000 to 2009. However they have maintained a steady dividend payment that shows a positive slope. The market price is very fluctuating in 2005 the MV was 519. 25 but in 2006 it went down to 386. 00, in 2007 it was 382. 63 but in 2008 the MV was 1142. 00. picFigure 2 From the figure 2 we see that till 2007 the Share Market Price and the Net Asset Value Per share is very close however from 2008 the difference between the Market Price and Net Asset value per Share increased despite of a drop in the Net Income. In the year 2008 and 2009 the corporation has paid a cash dividend of BDT 28 and 29 per share respectively and the EPS in 2008 was 44. 94% and i n 2009 was 49. 96. From the above mentioned information we can say that there is a high possibility that the reason behind the increase in the market price of the share imperfect market condition in the Capital Market in Bangladesh.The imperfect market situation might be the result of Syndication or by spreading rumor in the market, which caused the Share Price of PRAN to go up. Capital Structure In finance, capital structure refers to the way a corporation finances its assets through some combination of equity, debt, or hybrid securities. In other words we can say that Capital Structure is the mix of a companys long-term debt, specific short-term debt, common equity and preferred equity. The capital structure is how a firm finances its overall operations and growth by using different sources of funds.Debt comes in the form of bond issues or long-term notes payable, epoch equity is classified as common stock, preferred stock or retained earnings. Short-term debt such as working cap ital requirements is also considered to be part of the capital structure. For example, a firm that sells BDT 20 billion in equity and BDT 80 billion in debt is said to be 20% equity-financed and 80% debt-financed. The firms ratio of debt to total financing, 80% in this example is referred to as the firms leverage. In reality, capital structure may be highly complex and include dozens of sources.Gearing Ratio is the proportion of the capital employed of the firm which come from orthogonal of the business finance, e. g. by taking a short term loan etc. A companys proportion of short and long-term debt is considered when analyzing capital structure. When people refer to capital structure they are most likely referring to a firms debt-to-equity ratio, which provides insight into how risky a company is. Usually a company more intemperately financed by debt poses greater risk, as this firm is relatively highly levered.The Modigliani-Miller theorem, proposed by Franco Modigliani and Merto n Miller, forms the basis for modern thinking on capital structure, though it is generally viewed as a purely theoretical result since it assumes away many important factors in the capital structure decision. The theorem states that, in a perfect market, how a firm is financed is irrelevant to its value. This result provides the base with which to examine real world reasons why capital structure is relevant, that is, a companys value is affected by the capital structure it employs.Some other reasons include bankruptcy costs, agency costs, taxes, and information asymmetry. This analysis can then be extended to look at whether there is in fact an optimal capital structure the one which maximizes the value of the firm. Capital structure in the real world if capital structure is irrelevant in a perfect market, then imperfections which exist in the real world must be the cause of its relevance. The theories below try to address some of these imperfections, by restful assumptions made in the M model.Capital Structure Theory Trade-off theory of capital structure Trade-off theory allows the bankruptcy cost to exist. It states that there is an profit to financing with debt (namely, the tax benefit of debts) and that there is a cost of financing with debt (the bankruptcy costs of debt). The marginal benefit of further increases in debt declines as debt increases, while the marginal cost increases, so that a firm that is optimizing its overall value will focus on this trade-off when choosing how much debt and equity to use for financing.Empirically, this theory may explain differences in D/E ratios between industries, but it doesnt explain differences within the same industry. Pecking order theory Pecking Order theory tries to jinx the costs of asymmetric information. It states that companies prioritize their sources of financing (from internal financing to equity) according to the law of least effort, or of least resistance, preferring to raise equity as a financing intends of last resort.Hence internal debt is used first when that is depleted, then debt is issued and when it is no longer sensible to issue any more debt, equity is issued. This theory maintains that businesses adhere to a hierarchy of financing sources and prefer internal financing when available, and debt is preferred over equity if external financing is required (equity would mean issuing shares which meant bringing external ownership into the company. Thus, the form of debt a firm chooses can act as a signal of its need for external finance.The pecking order theory is popularized by Myers (1984)1 when he argues that equity is a less preferred means to raise capital because when managers (who are assumed to know better about unbent condition of the firm than investors) issue new equity, investors believe that managers think that the firm is overvalued and managers are taking advantage of this over-valuation. As a result, investors will place a lower value to the new equity is suance.. Agency Costs There are three types of agency costs which can help explain the relevance of capital structure.Asset substitution effect As D/E increases, management has an increased incentive to undertake risky (even negative NPV) projects. This is because if the project is successful, share holders get all the upside, whereas if it is unsuccessful, debt holders get all the downside. If the projects are undertaken, there is a chance of firm value decreasing and a wealth transfer from debt holders to share holders. Underinvestment problem If debt is risky (e. g. , in a growth company), the gain from the project will accrue to debt holders rather than shareholders.Thus, management has an incentive to reject positive NPV projects, even though they have the potential to increase firm value. Free cash flow unless free cash flow is given back to investors, management has an incentive to ruin firm value through empire building and perks etc. Increasing leverage imposes financial d iscipline on management. Other The neutral mutation shotfirms fall into various habits of financing, which do not impact on value. Market time hypothesiscapital structure is the outcome of the historical cumulative timing of the market by managers.Accelerated investment effecteven in absence of agency costs, levered firms use to invest faster because of the existence of default risk. Primary Factors influencing the Capital Structure 1. Business Risk It is the risk associated with the unique circumstances of a particular company, as they might affect the price of that companys securities. If the business risk is higher than the optimal debt amount will be lower. 2. Tax Position It is the second key factor.The major reason for using debt is that the interest is tax deductable which helps to lower the effective cost of debt. However, if much of a firms income is already sheltered from taxes by accelerated depreciation or tax loss carried forward from previous years, its rate will be low, as a result debt will not be advantageous as it would be to a firm with higher effective tax rate. 3. Financial Flexibility It indicates a firms ability raise capital on reasonable terms under adverse conditions. 4. Managerial Attitude It is the firms attitude to borrowing fund.Some of the firms are more aggressive than others hence, some firms are more inclined to use debt in an effort to boost profit. This factor does not affect the optimal capital structure or value-maximizing, however it does influence the firms target capital structure. Evaluating the Capital Structure of PRAN The debt-to-equity ratio (D/E) is a financial ratio indicating the relative proportion of shareholders equity and debt used to finance a companys assets. Closely related to leveraging, the ratio is also known as Risk, Gearing or Leverage. Year Equity Debt Debt to Equity RatioNI EPS (in Millions) 2005 330. 04 165. 94 33. 46% 40. 77 50. 96% 2006 337. 69 152. 59 31. 12% 28. 95 36. 19% 2007 327. 93 114. 00 25. 80% 29. 33 36. 66% 2008 342. 71 92. 9 21. 25% 35. 95 44. 94% 2009 359. 97 138. 99 27. 86% 39. 97 49. 96% Table 3 From the table 3 we can say that that in 2005 when the D/E ratio was 50. 96% the company experienced the highest EPS. If we compare the D/E ratio and the EPS of 2008 and 2009 we see that in 2009 the debt ratio has increased by 6. 61% which had a positive effect on the EPS as a result the EPS increased by 5. 02%. It shows that when the D/E ration increases the EPS also increases.If we look at the graphical presentation it will be easier for us to understand which is given below. pic Figure 4 If we take the average of the D/E ratio from 2005 to 2009 we see that on average PRAN is maintaining a D/E ratio of 27. 90%. In short we can say that 27. 90% of the total equity is financed by Debt. It means that the PRAN is moderately aggressive towards the debt financing. As a result they have a lower Financial Risk and higher Business risk. Conclusion PRAN is one of the reputed companies in the Dhaka Stock transfer and they fall under the Category A.From year 2000 to 2009 PRAN has always have paid cash dividend however they have never paid stock dividend. PRAN is maintaining a reserve capacity Dividends can be used to budge assets out of the company and consequently from the potential allege of creditors which can be injurious to creditor wealth, and creditors will beyond a shadow of a doubt take pricing or contractual actions to offset these latent uses of dividends. The contemplations of signaling, agency and the effects of market imperfections upon optimal dividends are imperative dimensions about which financial managers must be sentient. RecommendationsCash and stock dividend, both should be paid without fail. Our stock market is not an efficient market. The available information most of the times do not lead to the desired reality. Many investors believe on the rumors and invest in the share market. protective cover Exchange Commissi on should take proper steps to minimize this condition. Disclosure of the overall market price in the annual report is desirable. The company can ideas from its investors to improve the situation and thereby engaging them in the part of the decision making process. Issuing of bonus shares can be a good option to attract the potential investors.

Organizational Structure Defined By Managers Commerce Essay

Organizational Structure may be defined as how directors and supervisors divide, group, and organize work between different employees and regions.Other important definition may be defined as An Organizational Structure is based on activities such as undertaking allotment, coordination, and supervising, which argon directed towards the accomplishment and fulfilment of validational ends and aims An organisation loafer be structured in many different ways, depending on their aims, purposes and longterm ends. The construction of an organisation will let on the manners in which it operates and performs. Many Organizations have a Hierarchy, but non all.Organizational Structure has 6 chief elements1. WORK SpecializationWork Specialization is the soft touch to which organisational undertakings argon sub-divided into single occupations. It is besides known as Division of turn over . It is the specialisation of labour in specific, limited undertakings and like functions. It is a cri tical luck of Job Structure and attributes a major function in success, if it is truly utilised. Wor Specialization is more efficient and effectual for directors, in order to carry done organisational positions. Directors find it much easier to happen gifted forces and develop them to execute specific and sealed undertakings. As Repetition improves the ability of an single to execute a authentic undertaking with lesser clip consumed.Basically, the occupations be assigned to specialise personal or persons. Therefore, the persons perform those undertakings or carry through those aims in which they ar change or are trained to roll up. The kernel of Work Specialization is that an across-the-board occupation being done by an person, it is broken down into configuration of stairss, with each measure being completed by a separate person. Therefore, single perform their expertness in specialised undertaking instead than the full occupation. It kindle be elaborated with the under mentioned metaphor.FOR EXAMPLE In Formula 1 Motorsports Racing, Rushing squads Managers hire mechanics that are specialized in certain undertakings ( during Pit Stops ) . Some are adept in replacing Front tyres, others are adept in replacing Rear tyres. Similarly, some are adept in Raising Car from the back side and others are specialized to execute the duty of a Lolly-Pop Man . Therefore, these squads hire mechanics and legate them occupations that, they are specialized to execute.2. DEPARTMENTALIZATION departmentalization is the 2nd piece of Organizational Structure and follows Work Specialization. Departmentalization is the manner, work and duties are distributed in amongst different sections. Departmentalization refers to the procedure of grouping activities into sections. Division of labour creates specializers who need coordination. This coordination is facilitated by grouping specializers together in sections.Departmentalization has the following chief typesDEPARTMENTA LIZATION BY FUNCTIONSIn Function Departmentalization, Departments are formed to group activities by map out . Such as in a concern house, the construction might deferral a Gross saless Department, a Marketing Department, a Purchase Department and a Human Resource Department etc. All these Departments are different from eachother on the footing of maps, they perform and the duties. collect to similar accomplishments and cognition, Economies of Scale can be achieved. The chief advantage of this type of Departmentalization is that, it can be used in all organisations, with mention to their ends and aims, and it is more efficient and effectual, as the people who posses the akin expertness and accomplishments, are governed in a remarkable section.DEPARTMENTALIZATION BY PRODUCTSActivities that are sorted by similar Product Lines or Product Categories . Undertakings are grouped harmonizing to merchandises and services, on that pointfore go forthing all activities related to the merchandise or the service under a individual director or a remarkable caput. to each one major merchandise country in the corporation is under the authorization of a senior director who is specializer in, and is responsible for, everything related to the merchandise line. This departmentalization helps an organisation to recognize its strong merchandise lines and weak links, additions Accountability. For E.g Unilever has different merchandise lines such as Dove, Axe and Fair & A Lovely etc.DEPARTMENTALIZATION BY GEOGRAPHYDepartments are formed on the footing of Geography and Territory such as North, South, East and West etc. If an organisation s clients are geographically dispersed, it can group occupations based on geographics. For illustration, Coca Cola has developed a Organizational Structure administering districts, the North American sector and the International sector, which includes the Pacific Rim, the European Community, Northeast Europe, Africa and Latin America gr oups.COCA COLA GEOGRAPHICAL STRUCTUREDEPARTMENTALIZATION BY ProcedureGrouping activities on the footing of Product or service or client flow . Each procedure require different accomplishments and techniques at different phases of its production or readying. Therefore, this Departmentalization helps the organisation to use the expertness of persons at different phases of production.Therefore, sections are followed due to the difference in defined construction. For E.g A whole procedure is to be followed for obtaining a Passport, Verification, Documents Submission etc, all from different sections.DEPARTMENTALIZATION BY nodeGrouping activities on the footing of common clients or types of clients Jobs may be grouped harmonizing to the type of client served by the organisation. The premise is that clients in each section have a common set of jobs and demands that can outdo be met by specializers. For e.g Law Firms provide services to General Public, high profile persons and spaci ous Corporations.3. CHAIN OF COMMANDChain of ask is an unbroken line of Authority that extends from the top dot executive, direction to the lowest station, echeleon and clarifies who reports to whom. It is a Hierarchy which shows the Chain of Command and authorization, making a nexus between the Managers and Sub-ordinates. It has 2 chief elementsAuthority ( It may be defined as the right of the directors and top degree executives to let up orders to sub-ordinates. To ease Co-ordination, each director has a certain function to play in hierarchy and has a certain authorization over his colleagues and sub-ordinates to carry through his responsibilty )Integrity of Command ( It preserves the unbroken line in the hierarchy. It states that, for the interest of better co-ordination, an person or a group must merely hold a individual higher-up, to whom coverage is done. It helps to take struggles and work confusion )For E.g Ohio Fire Department is under the control of Ohio Government. Cha in of Command goes right from the top degree Mayor, to the lower degree of directions such as Supervision Divison Chief and Staff Division Chief.4. SPAN OF CONTROLSpan of Control is besides an of import component of Organizational Structure. It fundamentally manipulates the capableness of a director to command a certain figure of employees. This figure is determined after analysing the size of the organisation. There are two type of spans, 1. Wider Spans 2. Narrow Spans.If a director decides to keep a narrow span, he can keep close control. However, there are few drawbacks every bit good. First, they are expensive due to extra degree of direction. Second, Communication procedure between the top and lower direction becomes more complex. Finally, Due to contract but tight supervising, Managers tend to do strong and tight policies, ordinances, which consequences in detering Employee Autonomy and Satisfaction.In recent old ages, the accent has been laid on keeping a wider span of contro l. It is easier to keep control, easier to pass on with sub ordinates and more significantly, policies are in the favour of Employees casualness, due to all right supervising. take SPAN OF CONTROL5. Centralization AND DecentralizationCentralization is defined as the grade to which determination devising is concentrated at a individual point in the organisation .An Organization, in which there is less input taken from the lower degree directors and employees, and the top degree direction rely and take cardinal determinations by themselves, non affecting the lower direction s input. Hence, it is Centralization .For e.g a Centralized Government is a signifier of Centralization, as it takes lesser input from lower governments and has the liberty to do determinations.Decentralization possibly defined as the procedure of scattering decision-making administration closer to the people and citizens . In Decentralization, the lower degree forces provide more input and take part in the determination devising.Decentralization and centralisation have played major functions in the history of many societies. An first-class illustration is the gradual political and organisational alterations that have occurred in European history. During the rise and autumn of the Roman pudding stone, Europe went through major centralisation and decentalisation. Although the leaders of the Roman Empire created a European substructure, the autumn of the Empire left Europe without a strong political corpse or military protection. Viking and other barbaric onslaughts come on led rich Romans to construct up their big estates, in a manner that would protect their households and make a self-sufficing life topographic point. This system was greatly decentralized , as the Godheads of the manor had power to support and command the little agricultural environment that was their manor.6. Formalization The grade to which occupations within the organisation are standardized Standardization i s the certainty of the occupation. If a occupation is standardized, the employees know what to make and there is no kind of confusion. If a occupation is extremely standardized, there is minimal sum of discretion over what is to be done, when it is to be done and how it is to be done. It consequences in consistent and improved public presentation. The grade of formalisation depends on the organisation, its policies and its construction. For case, there a few occupations that are non formalized i.e Departmental Stores Clerk, Gas Station workers etc. On the other manus, companies like P & A G and Unilever commonly have a standardised manner of making occupation. It is easy for employees to settle in, as they are able to understand their occupation decently.

Being a Good Parent

there are a million ways to describe cosmos a good parent. Some of the most important are unequivocal love, being able to listen and understand, and being baffling in things your child does. Showing your child that you love them is just as important at cogent them. A simple hug or words of encouragement can mean the world to a child. Having your child know that even if they make a mistake youll always love them.For an example after losing a basketball game in high school I went up to my ma and she hugged me without grammatical construction a word, when she did that I felt the love she had for me. Listening and understanding your child is another important characteristic of a good parent. When your child has a worry it could be helpful for them to know that you are available to talk to and offer advice. Im currently debating on transferring colleges, I like being able to talk to my mom about my plans and my future and getting her feedback.Going to a little league game, or bakin g cookies for their class bake sale are ways of being involved in things your child does. Helping your child with things like homework, or a big science project are other ways. Theres so many aspects of being a good parent it would be hard to describe in an essay. I just described the basics, unconditional love, the ability to listen, and being involved with your children.

Recruitment Program

Sample generic wellness care supplier recruitment plan It is imperious to have an all-encompassing recruitment policy for your organization. Sample recruitment policy To develop a long-range recruitment plan organize a recruiting order of business based upon the historical supply and demand for from each one major health care discipline and implement the plan within the organization. A goal should be actual for each discipline (dentist, ancillary, hygienist, assistant). Sample goal To recruit (number) dentists this year based on resignations, terminations, attrition or growth.Strategies, structure, and ongoing activities are important to the process. Sample strategies To abide our efforts on health care professionals who are completing training programs, government obligations or soldiers service. To anticipate the competition by contacting prospects early. To have a continuous, year-round schedule. Sample structure The official recruiting cycle for program) get out commence (Name of teaching institution/ (Month and date) of each calendar year. All recruiting efforts within the institution will be coordinated through the human resources/personnel department/coordinator or his or her designed.The organizations recruitment committee will review the recruiting objectives no later than February 1 of each year. Sample of ongoing activities Complete follow-up action with healthcare professionals who have interviewed. Schedule site visits for healthcare professionals from previous recruiting efforts. Obtain legal narrows for healthcare professionals who will commence practice. Recruitment committee will meet at least quarterly to review plan of action and develop strategies for implementation. Attend as galore(postnominal) in-state health professional recruitment fairs as possible.Sample annual recruitment plan Quarterly Activities JANUARY MARCH Survey active medical stave to determine supplier demand/practices needing assistance Need for new practices in the community. Mail second recruitment letters to practicing dentists (first letter sent in October). Compile statistics from January medical staff survey. Prepare for initial provider/practice assessments. Complete follow-up action on providers who have completed site visits in December and January. Establish financing limits for calendar year from finance department. Prepare opportunity descriptions.Update printed recruitment materials. Identify residency programs and contact program directors/advisors. Identify recruitment conferences and exhibit possibilities. Meet with the provider recruitment committee to explain this years campaign and their involvement (for example, interviews). Fine-tune the campaign with their input. Conduct initial provider/practice assessments to clarify provider recruitment needs in response to January medical staff survey. Mail second recruitment letter to next years graduating students/professionals (first letter mailed in October). APRIL JUNEBegin preparation for dental teach marketing seminar (seminar about how to market practices and what to expect in recruiting). Meet with administrator to establish recruitment priorities. Send third recruitment letter to next years graduating dental students. Semi-annual dental/provider manpower recruitment committee meeting. Assist newly recruited providers by facilitating their arrival and transition. JULY SEPTEMBER Register a search with the DANNA and other stance services. sink in dentists in government service (National Health/Lillian Health Service Corps).Write other healthcare administrators in the region regarding a search for a healthcare provider for the community. Contact state licenser board for names of provider licensees and send letters to. Inform pharmaceutical and medical supply vendors of provider searches. Contact military installations in region for names of providers leaving service and ask about opportunities to communicate with them. Contact medical specialty associations to obtain information on meetings, publications and posture services. Identify provider recruitment opportunity fairs for the coming year.Dental school opportunity fair. Request dental school alumni affairs office to publicize opportunities. Post purpose opportunities/vacancies with state health department, dental training programs and state primary-care associations. Obtain available provider computer lists for mailing to next years graduating students. Visit dental training programs. Contact military dentists younger than 45 years. Send fourth recruiting letter to graduating students (in final year). Conduct consumer research to further localize need for dental providers.Write and place case urinal ads for November and December to target practicing dentists. OCTOBER DECEMBER Continue dental provider training program visits. Meet with administrator to establish recruiting priorities for the coming calendar year and deck up for next months provider recruitment com mittee meeting. Send letter of introduction to next years graduating dental students (second letter to be sent in March). Contact pedantic dentists younger than 45 years. Mail letter to practicing dentists (second letter to be sent in January). Semi-annual provider recruitment committee meeting.Prepare medical staff survey to identify provider manpower needs and issues. Attachment 1 Graphic Summary of the Recruitment Process 1 . Preparation for recruitment 2. Prospects 3. Suspects 4. Applicants 5. Candidates 6. Finalists 7. Hired Develop health professional plan Identify new candidate Provide description of opportunity (sees) Provider sends C.V. In-depth phone interview Complete interviewing process Regular communicating before start date Prepare practice assessment Targeted direct mail Determine interest/needs of providers C.V. screened according to criteria Prepare for site visitFinalize let negotiations Professional orientation Determine role of current professional staff Displ ay at professional assemblies Follow-up with requested information Candidate trailing & referral brass Provide examination copy of contract Hospital privileges Determine salary and benefits Advertise Personal follow-up with candidate Develop in-house recruitment system Marketing introduction to professional sites Candidate tracking and referral system Develop promotional materials Direct contacts (cold calls) Reference & credential check Draft specimen contract Determine selection criteria

KFC Macro Environment Analysis

Principal of ManagementPOM 17 pupil Thuy LE MinhStudent number 31926529Lecturer Mr Dipan K MehtaProgram managerMs Hazel OngI. IntroductionII. SWOT outlineIII. Macro- environment analysisIV. Competitive environment analysisV. Application closely planning, organizing, leading and controllingVI. ConclusionVII. Recomm subvertationsVIII. ReferencesI . Introduction There ar many immediate-flying viands companies around the world. KFC is nonpareil of the closely renowned brands in the global fasting food for thought industry. KFC stands for Kentucky Fried Chicken that was founded by Colonel Harland Sanders in 1955 with only $105 (Colonel Sanders & Kentucky Fried Chicken, n. d. ). At the beginning, KFC narrow down in Original Recipe fried chicken that known as Colonels secret recipe. It blends of 11 herbs and spices and completes by using the basic cooking technique. analogous essay KFC Training and DevelopmentToday, KFC expands their harvest-tides variedly to serve client like Kentucky Grilled Chicken, Honey BBQ Wings and freshly made chicken sandwiches (About KFC, n. d. ). Sales gaudiness is an important factor to generate profit in each company. In 1971, more than 2. 7 billion pieces of chicken were sold by KFC it marked up the sales of more than $2 billion (Colonel Sanders & Kentucky Fried Chicken, n. d. ). In 2008, KFC took 42 percent of the food market share in the U. S. chicken quick assistant restaurant (About KFC, n. d. ). Every day, KFC restaurants prepare meals for 12 million nodes in the world.Therefore, KFCs products has been satisfied many customers around the world. Additionally, the growing number of KFCs franchises is one of the evidences immortalizes the study of the KFC Cooperation. In 1971, KFC Corporation contained more than 3500 worldwide franchises compared with more than 600 KFCs franchises in the U. S and Canada and spread outed the first oversea outlet in England in 1964 (Colonel Sanders & Kentucky Fried Chicken, n. d ). In 2002, KFC is acquired by Yum Brands . Today, KFC owns more than 20,000 restaurants within 109 countries around the world (About KFC, n. . ). Started with only $105, KFC now can evaluate as a multi-billion dollars company. This continue will clarify approximately strengths, weaknesses, opportunities and threats of KFC, as well as the external and internal environment, and give some recommendations to help KFC becomes more flourishing in market. I. SWOT Analysis i. Strengths * Good reputation, well- trained staff. agree to the member Brand values / KFC Gold standard qualities guarantee chicken that is so good ( n. d. ), KFC ranks the highest in the capital of Singapore and the U. S. Quick Service Restaurant Industry.Additionally, KFC has many loyal customers callable to the fact, everyday KFC serves more than 12 million people. * Delicious and strong trademarks recipes. Until now, KFC is famous for the Original Recipe fried chicken, and impressive KFC slogan is Finger Lickin G ood * Worldwide- recognized brand and a remarkably consistent brand identity The catch of Colonel was attracted both children and their parent (Liu, 2008, p. 69). Furthermore, Liu (2008) states that Colonels humorousness attracts children and their parents put their trust in Colonels products. Strong capital position Yum Brands Inc. which earned $ 11 billion in 2008 are controlling KFC, (About KFC, n. d. ) * Following C. H. A. M. P. S system (Liu,2008, p. 65) C- Cleanliness H- Hospitality A- Accuracy M- Maintenance P- Product Quality S- Speed * Good advertising disturb Weekly one KFC commercial can attract nearly 185 million people to see (About KFC, n. d. ). * Convenient locations, it is easy to access to KFCs restaurants. ii. Weaknesses * Products hightail it to be close substitutes in the market. * In the past, KFC did use the oils contain Trans fats. Fonda, 2006) * Too many stores can lead to poor quality services ( Tice , 2010) * Un sanitary and modify food (Cain, 2009) * L ack of providing foods information ( KFC Singapore did not mention sugar or salt level ) (Macmullan, 2009, p. 31) iii. Opportunities * Trend towards fast-food because it is delicious, quick and gimcrack ( Schlosser, 2001) * Consumers are curious about Western foods. (Liu,2008) * Chinese market is considered as the worlds fastest growing economy, KFC can take away this potential market to invest more restaurants. Hailing China as Worlds Fastest Growing Economy, Secretary-General Urges Chinese Government to Put Greater Emphasis on social Equity, Environmental Sustainability, 2010) * The increasing in number of young generation is tremendous. iv. Threats * Risk of new entrants due to low entry barrier (Luo, 2000) * Liu (2008) points out that avian flu reduced dramatically number of sale in fast food industry which always focus on chicken. * The growing trend of healthy food against fast food adjoin strongly. Davis (2002) states that eating fast food affects negatively to peoples h ealth so people should say no to fast food.II. Macro- environment analysis i. Laws and Politics Singapore politics controls over all companies and businesses. According to the bind Singapore Rankings, 2012, intellectual property has the strongest security over Asiatic countries. Additionally, Singapore is the least dispassionate country in Asia. Corruption in Singapores economy is holded to minimum. In order to develop the economy, the government enacts many laws and regulations to having the most open economy for international trade and investment (Singapore Rankings, 2012).According to the article Ease of doing business in Singapore, (n. d. ), starting a business need 3 days includes online registration with ACRA, company seal making, and urinate with Work Injury Compensation Insurance. Additionally, business opened in Singapore must equal Companies Act. ii. The Economy Singapore is considered as a top location for investment in the world, according to the article Singapore Rankings,2012. According to Overview, (2006), Singapore rated as a solid macro economy in the world, which is one of the most important factor in order to run into an economy.MAS- Monetary Authority of Singapore tries to keep inflation rates low, in order to keep value for the currency (Singapores exchange rate policy, 2011, p. 15). consumer price index stands for The Consumer Price Index. In 2011, Singapores CPI was 5. 4% due to higher prices for accommodation, a significant increase in fuel and food (Huang, 2011). gross domestic product is another measure of inflation, which stands for Gross Domestic Product was 5% growth in 2011. The Singapores economy can reckon with many elusiveies due to the change in global economy. iii. TechnologyJohnson (1996) mentions that Singapore owns the best quality of the employees in Asian countries. They are literate and good at using computers. Thank for the development of IT in Singapore, KFC can be more easily generate their business here, for example, online marketing or online food ordering. In addition, telecommunications such as phones or active phones are developing rapidly in Singapore. Therefore, KFC can contact with their customers by phone or order food by using phone. v. Demographics According to the article world trends 2011 , (2011, p. 1), Singapore had 5. 8 million people at the end of 2011. It was 2. 5 times bigger than 2. 1 million people were at the end of 1970. Total population in Singapore includes both residents and non- residents. Between 2010 and 2011, total number of citizens increased 0. 8%, and non residents increased 6. 9 %. Therefore, people who went to Singapore to crop or study were a significant factor contributed for Singapores population. According to the article About KFC (n. d. ), KFC focus on family and friends of all ages. However, between 2000and 2010 , thither was slightly reduced in number of married people ( from 61. % down to 59. 4%) (Population trends 2011,2011,p. 1). It ca n affect negatively to KFC business. However, according to the article Population trends 2011 , (2011, p. 7), the proportion of children who under 15 year sold took 20% up to 24% in 2011, these factor could positively affect to KFC business in Singapore. referable to the reason is that when a family goes out, their children will decide what places or restaurants to eat (Liu, 2008, p. 69). In Singapore, Chinese are the majority amongst other ethnic groups like Malaysians, Indians and so on (Population trends 2011, 2011,p. 29).Additionally, KFC has a strong position in Chineses mind because of KFC considered as more Chinese performance than other brands (Liu, 2008, p. 70). So, KFC will face more advantages when expand their business in Singapore. On the other hand, Singapore has well- trained workforce as well as the best skilled turn over in Asia, so it will result good skilled employees for KFC . iv. Social Issue and the Natural Environment According to the article Food and drun kenness work group report,(n. d. , p. 54), societal trend towards eating outside rather cooking and eating at home amongst Singaporeans.So, it creates more demote for Food and Beverage services expand its business. For instance, in 2008 there were 306 new fast food outlets were established compared with more 376 new outlets were opened in Singapore (Economic Surveys serial publication, 2011, p. 7). III Competitive environment analysis i. Competitors KFC must compete with many direct competitors in the global fast food industry. For example, Burger King, BBQ, Mc Donalds, Wendys and so on. All of them are strong rivals based on their ability to gain market share, as well as their ambition to become the leader of the fast food industry.Additionally, fast food industry is saturated. Products are not easily identify. Almost of all fast food, restaurants currently lack of product differentiation. Their menu contains trivial types of foods such as hamburgers, chicken, french-fries. Ther efore, some customers may feel difficult to eat these types of foods frequently. In order to compete with other strong rivals in the market, even it is difficult KFC tried their best to distinguish their products. For example, pop corn chicken, egg tarts and so on.Based on lacking of product differentiation, as well as tremendous increase in competitors, fast food industry is control by Red Ocean Strategy recently. ii. New entrants The threats of entry are quite high for fast food industry in general. Capital requirements are one of important factors, Jekanowski (1999, p. 15) shows that 2 main huge parts of companys expense are cost of materials and employees salaries. In order to open some fast food outlets, company must consider some other factors such as rental cost, marketing, utilities and so on. iii. Substitutes and ComplementsIn consumers opinion, fast food attracts them because it is convenient, tasty, and cheap. However, nowadays, many research papers show the negative impa ct of eating fast food on health and encourage people to limit fast food consumption ( Schlosser, 2001) . KFC necessitate to face with significant substitutes due to some companies who focus on fitter food but as well low price strategy will adapt strongly to customers demand. iv. Customers KFC aims to final customers. Schlosser (2000) states that nowadays, many women go to work, rather of cooking at home traditionally, fast food helps them to prepare meals for family.Furthermore, half of their food spending is for fast-food restaurants. Once again, the trend of eating outside amongst Singaporeans creates more chance for KFC expand their business especially in Singapore (Food and Beverage work group report, n. d. , p. 54). Additionally, a quarter of Americans select fast food for their meals every day ( Ransohoff, n. d. ). Therefore, KFC has many potential customers in order to satisfy those people and gets interest back. v. Suppliers Bargaining power of suppliers is quite low du e to some reasons. First, fast food industry especially KFC restaurants require common materials for producing.For example, chicken, breads, beef, potatoes and so on. Therefore, these materials are available and low cost of purchase. Secondly, there are many suppliers provide those stuff want to cooperate with KFC which means ability to raise prices can be limited. Table 1 Competitive environment analysis based on Porters Five Forces Porters Five Forces Environmental Factor Unattractive Attractive Competitors x Threat of entry x Substitutes x Suppliers xCustomers x V. Application about planning, organizing, leading and controlling i. Application about planning One of KFCs weaknesses is poor quality of service. Therefore, KFC may mark their goals to increase customer satisfaction in 1 month. Then, KFC can achieve that goal by providing staff training workshops. They should know more about consumer behavior, and customer psychology in order to satisfy customers needs. These info rmation can support by people who have good knowledge about customers. After these workshops, KFC should collect customers feedback whether staff perform better or not. ii.Application about organizing KFC focus on satisfy customers to generate profits and reform its reputation. Each department includes in KFC have to respond its function to achieve companys goals. Departments such as marketing department, production department have their own leader like marketing manager, production manager, respectively. KFC must make sure that all of their department not only finish their tasks but also coordinate with other departments. Therefore, KFC need a good organizational structure to achieve its goals. For example, marketing managers need to plan a promotion campaign to exhibit new products.They must cooperate with finance departments to determine the promotion budget. So, integration coordinates labors efficiency iii. Application about leading KFC can choose relationship-motivated leade rship style to control company. As a result, managers should build good relationships with employees, narrow the distance between managers and workers. Managers should care more about workers, satisfy their needs, and show companys respectability toward employees. For example, managers can give more bonuses for workers in order to encourage them to finish their duty perfectly. iv. Application about controllingKFC should follow clan control to achieve its targets. The managers should discuss with followers to make decision. For example, chiefs, cashiers and waiters who have more chances to communicate with customers can contribute many worthy ideas. Conclusion This report mentions SWOT analysis, macro-environment analysis focus on Singapore, and competitive-environment analysis of KFC in Singapore then give some recommendations. KFC has good brand image in customers mind. However, KFC lacks of product differentiation amongst their strong competitors. The change in demographic can aff ect positively to fast food industry especially KFC.On the other hand, the trend towards healthy food can against the development of fast food. The macro environment focuses on five mains parts which are Law and politics, economy, technology, social issues and demographic. In Singapore, government open their laws and regulations to attract overseas investment. Moreover, the economy in Singapore is quite stable, with the development of technology help Singapore become a potential market for KFC. Moreover, Singaporeans cull eating outside rather than cooking at home is one of the advantages for the development of KFC in Singapore.The competitive environment mentions five factors are competitors, threat of entrants, suppliers, customers, and substitutes. KFC has to face with many currently strong competitors, as well as new rivals. However, KFC lacks of its products differentiation. Some actions can help KFC in order to achieve good circumspection through process of planning, organiz ing, leading and controlling. In conclusion, KFC is invited a really potential market especially in Singapore, they should develop their advantages as well as limit the disadvantages as much as possible to satisfy customers. RecommendationIn order to gain more customers satisfaction, KFC can do some renovations. First, KFC should make differentiated products to compete with its rivals. For example, create new menu contains vegetarian food besides normal menu. Additionally, provides food in a variety of food sources like pork, lamb and so on. Secondly, KFC can give customer reward points for purchasing KFCs products to get customer loyalty. Furthermore, birthday cards or small gift in customers birthday can build a better relationship. KFC can increase its sale volume and advertise its brand widely by discharge corporate discounts with its complements such as Pepsi, and Nestle.Last but not least, KFC need to care more about their customers by gathering customers information. Therefo re, it is easier to collect their feedback as well as do customer loyalty program. All of these things above need a strong finance to support, however, its benefit definitely outweigh its cost. ReferencesAbout KFC. (n. d. ). KFCfranchise. Retrieved shew 9, 2012, from http//www. kfcfranchise. com/about-KFC-fried-chicken-business. phpBrand values / KFC Gold standard qualities guarantee chicken that is so good . (n. d. ). KFC. Retrieved March 9, 2012, from http//kfc. com. g/about-us-goldstandard. phpCain, S. (2009, June 14). The worst restaurant of the year award goes to Kentucky Fried Chicken. The wellness Wyze Report. Retrieved March 9, 2012, from http//healthwyze. org/index. php/component/content/article/134-the-worst-restaurant-of-the-year-award-goes-to-kentucky-fried-chicken-kfc. htmlColonel Sanders Kentucky Fried Chicken. (n. d. ). KFC. Retrieved March 9, 2012, from http//www. kfc. com. sg/about-us-milestone. phpDavis, L. (2002). Application of nutrition in the industry. In Ho spitality Industry Handbook on nourishment and Menu Planning. (p. 217).South Africa JutaCo. Ease of doing business in Singapore. (n. d. ). Doing business. Retrieved March 13, 2012, from http//www. doingbusiness. org/data/exploreeconomies/singapore/starting-a-businessEconomic Surveys Series. (2011, November 24). Statistics Singapore. Retrieved March 12, 2012, from http//www. singstat. gov. sg/stats/themes/economy/biz/fnb. pdfFonda, D. (2006, June 18). KFCs Big Fat Problem. Time. Retrieved from http//www. time. com/time/magazine/article/0,9171,1205379,00. htmlFood and Beverage work group report. (n. d. ). Ministry of Trade and Industry. Retrieved March 12, 2012, from

Crooks

Blacks originally came from West Africa (Nigeria, Ghana and Liberia). Rich white land owners wanted slaves to work on cotton plantations in the Deep sulfur (Mississippi, Alabama, Georgia). In the early 1800 century blacks grew in numbers in small community theses be commonly referred to as nigger nests. People in the northerly did not agree with slavery and thus forth created the American civil war. In the 1860s the north won and slaves were freed but wee still classed as endorse class citizens.Crooks from Of Mice and Men is a prime example of how blacks were treated in the 1860s. He is called a nigger by the former(a) workers this shows that they dont give him enough gaze to call him by his own name. Crooks is only allowed in the bunkhouse during Christmas and then is only used for sport for the other workers entertainment. The other workers shout at him and in the pass paragraph curly steals his gun. This shows that he is treated with no respect at all by the other workers.Cr ooks living accommodation tells us how mistreated he is for example Crooks lives in a little shed .this tell us that he is seen as small and weak. Square four panel window this makes his stand sound like a prison. This tells us he is trapped in his job with no chance of escape. His bed is a box of straw. This tells us he is treated like an animal and not even aloud a real bed. Outside of his window there is a pile of horse poo this tells us he is treated like shit.Crooks has few possessions he has books this tells us he is very literate and likes to postulate, a gun this tells us he needs to defend himself from some involvement, an alarm clock this tells us he stick to a schedule and has duties to attend to, several pairs of shoes thisShows us he works hard and has to replace his spot often. His possessions are the only things he can uses to pass the time this helps us to understand his extreme loneliness.Crooks was injured by a horse kicking him promptly he is disabled this ad ds to his problems. Steinbeak reminds us that he is like white i.e. pink palms and pink lips. All of the people in the ranch judge him except from change state and Lennie this tells us he is an outsider.On the ranch crooks works as a stable buck (attends to the horses) the owners and the workers actually need him but they dont lets it seem like they do. He is actually more skilled then most men but because of his colour he is treated much worse than the other men.The only thing he can really do as a pass time is read his books and tend to the horses this tells us he is educated an able to read and he is dedicated to his job because even in his free time he is still tending to the horses. His extreme loneliness suggests that some of his books are pornographic. This exaggerates his loneliness.Crookss feelings are conflicted when it comes to the workers he wants company but he feels threatened by the other workers. The only people he willingly let into his home is lennie and slim he d oesnt see them as a threat because only there the only people on the ranch that dont judge him for being black. The only other mortal he lets in is his boss but does this unwillingly. This tells us that he is very protective of his little piece of land.Crooks is constantly in pain from his accident. This makes him angry and mindless tempered. He is also in a lot of mental pain. He deals with the fact that he is a nobody and is under constant fear that the other workers will turn on him.Crooks was brought up in California .but is an immigrant from Mexico. Therefore he has always been an outsider. He has some companions like lennie and slim but not often most of the time he is either with the horses or on his own. Curlys wife destroyed his hope of any future friendship by reminding him of his awkwardness and belittling him. Crooks cause his own isolation by shutting people out. He wants to build a wall to block everyone else out ban come out isolate himself from the rest of the wor ld.

Audit and Assurance

BA (HONS) ACCOUNTING & FINANCE BA (HONS) PROFESSIONAL ACCOUNTING PROFESSIONAL account statement COURSE YEAR 3 AUDIT & ASSURANCE 1 INDIVIDUAL ASSIGNMENT BRIEF HAND OUT DATE5th October 2011 HAND IN DATE INSTRUCTIONS FOR COURSEWORK You are required to research and prepare a report based on one of the following topics. Please seek the care of the module leader Ivor Pingue and your seminar tutors for help and guidance with your coursework. Do not leave the research too lateThe word limit for the report is a token(prenominal) of 3,500 (+10%) words. maximum word count can be + 10% (Note reports submitted with less than 3,500 words allow be rejected and given a shop of zero ). Reports must indicate the word count and any report that does not include this will be rejected. All reports must be the right way referenced and also be submitted with a TURNITIN report. NOTE that high similarity reports could be subject to further investigation which might lead to a laden of academic miscondu ct for plagiarism. PERSONAL DEVELOPMENT PLANIn addition to the written report, you are to prepare a separate individual personal growing statement in accordance with the attached brief. This individual submission is to be handed in for the attention of Peter Blowes. The personal development statement will contribute up to 10% of your overall mark for the unit. TOPIC 1 Given the recent banking crisis and the topical volatility of the financial foodstuffs, some commentators sport suggested that the current size up model is not fit for purpose and should be changed to reflect the current business practices and models particularly relating to risk and risk assessment. unavoidable Critically adjudicate this statement and consider whether in your imbibe, the current risk based approach to auditing should be amended and if so, what model should be adopted. (NOTE YOU DO NOT HAVE TO fetter YOUR RESEARCH TO THE UK). TOPIC 2 External auditing has changed to accommodate the changes in c orporate governance in the UK and other countries such as South Africa, Australia, US, India and China REQUIRED Using a country or countries of your choice, research and prepare a report to critically evaluate the to a higher place statement. TOPIC 3With the current furiousness on carbon emissions and damage to the environment that businesses cause and an awareness of social issues, the role of auditors in providing social and environmental assurance engagements is likely to increase as we enter into the 21st Century. REQUIRED Research and explain the growth and development of social and environmental auditing in both the UK and a country of your choice. Explain whether you throw or disagree with the statement made. (NOTE make sure that your research supports and is evidenced by any assertions that you make TOPIC 4 Auditors are not just now engaged in coiffeing statutory audits but can provide assurance reports to a number of entities both incorporated and unincorporated. Also , auditors can help slenderize the incidence of fraud within a business. REQUIRED Write a report suggesting ways that an assurance engagement can be useful to conglomerate forms of businesses including the use of forensic auditing services. Also, do you agree that an assurance service can reduce the incidence of fraud? How and why do you arrive at your view? TOPIC 5There have been a number of reports by the Audit Inspection Unit examining, amongst other things, audit quality and audit meekness reviews (ACRs) REQUIRED Research the reports that have been produced in the UK that have considered audit quality and critically appraise them. In your report, you should make clear why you consider audit quality to be an important aspect of both the external and internal audit process. Your report should also consider how an audit firm can perform an effective audit compliance review (ACR). TOPIC 6Given the behaviour of the audit firm Arthur Andersen in the Enron debacle, it could be argue d that auditors are never authentically independent of their clients and cannot be properly ethical in relation to their dealings with them for a variety of reasons, one of which being fees. REQUIRED Critically appraise the above statement by examining the relationship of the auditor to Enron. You should also consider how governments and the auditing professions in the US and UK have dealt with the issue of auditors independence and ethics. Have they gone far decorous in providing public confidence in this area?What suggestions would you make to improve the position? TOPIC 7 The question of competition within the audit market is a hot topic particularly for the middle tier and lower tier audit firms who have argued for some time that there is an unfair strength of big 4 audit firms in relation to FTSE 100 companies. REQUIRED Consider whether in your view the mid and lower tier audit firms have a fair argument in terms of the dominance of the big 4 audit firms in relation to the F TSE companies. What can be done to care this issue to ensure fair competition in the audit market ?Can governments do more in this regard? (NOTE Consider the current disceptation relating to this as well as the relevant reports). TOPIC 8 Examine articles within the following auditing journals Auditing A journal Of Practice & Theory International Journal of Auditing Take a period of 36 months and selecting a theme that has been examined within these journals, write a report showing how it has been considered in these journals. Within your answer, state whether in your opinion, the matter has been satisfactorily resolved or whether further research and examination is required. MODULE LEADER

History of Matches Essay

A find out is a secondary stick of wood or strip of composition board with a change integrity mixture of flammable chemicals deposited on one end. When that end is struck on a rough surface, the crash generates enough heat to enkindle the chemicals and offer a modest flame. Some teammatees, called strike- any(prenominal)where encounteres, may be burn by striking them on any rough surface. Other matches, called refuge matches, will ignite merely when they are struck on a special rough surface containing certain chemicals.HistoryThe commencement ceremony known use of matches was in 577 during the siege of a townspeople in northern China. Women in the town used sticks coated with a mixture of chemicals to start fires for cooking and heating, thus allowing them to conserve their limited terminate by putting the fires out between uses. The details of this technique were subsequently lost to history. It was not until 1826 that earth-closet Walker of England invented the st olon friction matches. Walkers matches were ignited by drawing the heads through a folded piece of paper coated with ground glass. He began selling them in 1827, but they were difficult to igniter and were not a success. In 1831, Charles Sauria of France developed a match that used white the Tempter. These matches were strike-anywhere matches and were to a greater extent easier to ignite. Unfortunately, they were too easy to ignite and caused some unintentional fires. White phosphorus in like manner proved to be highly toxic. Workers in match plants who inhaled white phosphorus fumes often suffered from a horrible decadence of the jawbones known as phossy jaw.Despite this health hazard, white phosphorus continued to be used in strike-anywhere matches until the early 1900s, when g everyplacenment action in the United States and Europe forced manufacturers to switch to a nonvenomous chemical. In 1844 Gustaf Pasch of Sweden proposed placing some of the matchs combustion ingredie nts on a recognise striking surface, quite a than incorporating them all into the match head, as an extra precaution against accidental firing off. This ideacoupled with the discovery of less-reactive, nonvenomous red phosphorusled J. E. Lundstrom of Sweden to introduce safety matches in 1855. Although safety matches posed less of a hazard, many people still preferred the convenience of strike-anywhere matches, and both types continue to be used today. The first matchbook matches were patented in the United States by Joshua Pussey in 1892. The Diamond Match Company purchased the rights to this patent in1894.At first, these new matches were not well accepted, but when a brewing company bought 10 jillion matchbooks to advertise their product, sales soared. Early match manufacturing was mainly a manual operation. Mechanization slowly took over portions of the operation until the first automatic match machine was patented by Ebenezer Beecher in 1888. Modern match manufacturing is a highly automated process using continuous-operation machines that can produce as many as 10 million matches in an eight-hour shift with only a few people to monitor the operation. rude(a) MaterialsWoods used to make matchsticks must be porous enough to absorb various chemicals, and besotted enough to withstand the bending forces encountered when the match is struck. They should also be straight-grained and easy to work, so that they may be readily cut into sticks. White pine and aspen are two common woods used for this purpose. one time the matchsticks are formed, they are soaked in ammonium phosphate, which is a fire retardant. This prevents the stick from smoldering aft(prenominal) the match has gone out. During manufacture, the striking ends of the matchsticks are dipped in hot paraffin wax. This provides a low-spirited amount of fuel to transfer the flame from the burning chemicals on the point in time to the matchstick itself. Once the paraffin burn down off, the ammoni um phosphate in the matchstick prevents any further combustion. The heads of strike-anywhere matches are still of two parts, the tip and the base. The tip contains a mixture of phosphorus sesquisulfide and super C chlorate.Phosphorus sesquisulfide is a highly reactive, non-toxic chemical used in place of white phosphorus. It is easily ignited by the heat of friction against a rough surface. The potassium chlorate supplies the oxygen needed for combustion. The tip also contains powdered glass and early(a) inert filler cloth to increase the friction and control the burning rate. Animal glue is used to bind the chemicals together, and a small amount of zinc oxide may be added to the tip to realize it a whitish color. The base contains many of the same materials as the tip, but has a smaller amount of phosphorus sesquisulfide. It also contains sulfur, rosin, and a small amount of paraffin wax to sustain combustion. A water-soluble dye may be added to give the base a color such as r ed or blue. The heads of safety matches are composed of a single part. They contain antimony trisulfide, potassium chlorate, sulfur, powdered glass, inert fillers, and animal glue. They mayalso include a water-soluble dye. Antimony trisulfide cannot be ignited by the heat of friction, even in the presence of an oxidizing agent like potassium chlorate, and it requires another source of ignition to start the combustion.That source of ignition comes from the striking surface, which is deposited on the side of the matchbox or on the back cover of the matchbook. The striking surface contains red phosphorus, powdered glass, and an adhesive such as gum arabic or urea formaldehyde. When a safety match is rubbed against the striking surface, the friction generates enough heat to convert a trace of the red phosphorus into white phosphorus. This immediately reacts with the potassium chlorate in the match head to produce enough heat to ignite the antimony trisulfide and start the combustion. Ma tch boxes and match books are made from cardboard. The finned strips of cardboard used to make the matches in match books are called a comb.The ManufacturingProcessMatches are manufactured in several stages. In the field of wooden-stick matches, the matchsticks are first cut, prepared, and go to a storage area. When the matchsticks are needed, they are inserted into holes in a foresighted pierce belt. The belt carries them through the rest of the process, where they are dipped into several chemical tanks, dried, and packaged in boxes. Cardboard-stick matches used in match books are processed in a similar manner. Here is a typic sequence of operations for manufacturing wooden-stick matchesCutting the matchsticks1 Logs of white pine or aspen are clamped in a de scrambleing machine and slowly rotated while spinning blades cut away the outer bark of the tree. 2 The stripped logs are then cut into short aloofnesss about 1.6 ft (0.5 m) long. Each length is placed in a peeler and rot ated while a sharp, flat blade peels a long, thin saddlery of wood from the outer surface of the log. This sheet is about 0.1 in (2.5 mm) thick and is called a veneer. The peeling blade moves inward toward the core of the rotating log until only a small, round put is left. This post is discarded and may be used for fuel or reduced to wood chips for use in making paper or chipboard.Stripped logs are placed in a peeler, which cuts a sheet about 0.1 in (2.5 mm) thick, called veneer, from the log. The veneer proceeds to the chopper, which cuts it into small sticks. The sticks are soaked in a lade solution of ammonium phosphate and dried, removing splinters and crystallized solution. The matches are dumped into a feed hopper, which rail lines them up. A perforated conveyer belt holds them upside down while they are dipped in a series of three tanks. The matches are dried for 50-60 minutes before they are packaged. 3 The sheets of veneer are load and fed into a chopper. The chopper has many sharp blades that cut down through the stack to produce as many as 1,000 matchsticks in a single stroke.Treating the matchsticks4 The cut matchsticks are dumped into a large vat filled with a dilute solution of ammonium phosphate. 5 subsequently they energise soaked for several minutes, the matchsticks are removed from the vat and placed in a large, rotating drum, like a clothes dryer. The tumbling action inside the drum dries the sticks and acts to polish and clean them of any splinters or crystallized chemical. 6 The dried sticks are then dumped into a hopper and blown through a metal duct to the storage area. In some operations the sticks are blown directly into the matchmaking forwardness rather than going to storage.Forming the match heads7 The sticks are blown from the storage area to a conveyor belt that transfers them to be inserted into holes on a long, continuous, perforated steel belt. The sticks are dumped into several v-shaped feed hoppers that line them up with the holes in the perforated belt. Plungers push the matchsticks into the holes across the width of the slowly moving belt. A typical belt may have 50-100 holes spaced across its width. Any sticks that do not seat firmly into the holes fall to a catch area beneath the belt and are transferred back to the feed hoppers. 8 The perforated belt holds the matchsticks upside down and sinks the lower portion of the sticks in a bath of hot paraffin wax. After they emerge from the wax, the sticks are allowed to dry. 9 Further down the line, the matchsticks are positioned over a tray filled with a liquid solution of the match head chemicals. The tray is then momentarily raised to immerse the ends of the sticks in the solution.Several thousand sticks are coated at the same time. This cyclerepeats itself when the next pile of sticks is in position. If the matches are the strike-anywhere kind, the sticks move on to another tray filled with a solution of the tip chemicals, and the match en ds are immersed in that tray, only this time not quite as deeply. This gives strike-anywhere matches their characteristic two-toned appearance. 10 After the match heads are coated, the matches must be dried very slowly or they will not light properly. The belt loops up and down several times as the matches dry for 50-60 minutes.Packaging the matches11 The cardboard inner and outer portions of the match boxes are cut, printed, folded, and glued together in a separate area. If the box is to contain safety matches, the chemicals for the striking strip are mixed with an adhesive and are mechanically applied to the outer portion of the box. 12 When the matches are dry, the belt moves them to the packaging area, where a multi-toothed wheel pushes the finish matches out of the holes in the belt. The matches fall into hoppers, which measure the proper amount of matches for each box. The matches are dumped from the hoppers into the inner portions of the cardboard match boxes, which are movi ng along a conveyor belt located below the hoppers. 10 or more boxes may be filled at the same time. 13 The outer portions of the match boxes move along another conveyor belt running parallel to the first belt. Both conveyors cave in momentarily, and the filled inner portions are pushed into the outer portions. This cycle of filling the inner portions and pushing them into the outer portions is perennial at a rate of about once per second. 14 The filled match boxes are moved by conveyor belt to a machine, which groups them and places them in a corrugated cardboard box for shipping. step ControlThe chemicals for each portion of the match head are weighed and measured exactly to avoid any variation in the match composition that might affect performance. Operators constantly monitor the operation and visually inspect the product at all stages of manufacture. In addition to visual inspection and other conventionality quality control procedures, match production requires strict atten tion to safety. Considering that there may be more than one million matches attached to the perforated belt at any time means that the working environment must be kept free of all sources of accidental ignition.The FutureThe use of matches in the United States has steadily declined in the last few decades. This decline is the result of several factors the availability of inexpensive, usable lighters the decrease in the use of tobacco products by the general public and the development of automatic luminosity devices for gas-fired stoves. Of the matches that are sold, book matches far outsell wooden stick matches because of their advertising value. Worldwide, matches will continue to be in demand for the foreseeable future, although their production will probably follow the demand and migrate to other countries.Where to Learn MoreBooksBennett, H., ed. The Chemical Formulary, Vol. XV. Chemical Publishing Company, Inc., 1970. PeriodicalsBean, M.C. History of the Match, Antiques and C ollecting Hobbies. September, 1992, pp. 42-44. Chris Cavette