England and Its Colonies in The Moonstone (by Wilkie Collins) Term Paper

England and Its Colonies in The Moonstone (by Wilkie Collins) - Term Paper Example Eliot’s comment: â€Å"The first and greatest of English detective novels... a genre invented by Collins and not by Poe† (310). Rarely has the novel been thematically known exposing British colonial relations with India. John Reed first paid attention to this in his 1973 seminal essay, â€Å"English Imperialism and the Unacknowledged Crime of The Moonstone,† where he argued that, what the novel probes is, actually, not the personal but the national guilt, neither is the individual but national values. Meaning, the novel does not simply uncover a personal crime, but rather the social crime of imperial British against its subjected race, India. (qtd. in Sabin 89) On the contrary, Ashish Roy sees the novel essentially defending British imperialism by showing that good Victorians, like Lady Verinder, never condone such violent abuses. (qtd. in Sabin 89) Nayder somewhat supports Roy’s contrary view, saying that, though The Moonstone evidently proves that Victor ian detective fiction investigates socio-political issues from imperialism to class and gender relations, its investigation usually ends up blurring the guilt or crime of British imperialists, while putting the colonised race into negative light (184). For example, Blake, Murthwaite, Bruff and Sgt. Cuff, though, had wrongly accused the Brahmans of stealing the moonstone; nevertheless, the Brahmans had been portrayed ruthless killers in the novel. Likewise, Trollope suggests that The Moonstone’s diamond mystery actually shrouded rather than exposed Britain’s real interest in India which is not simply India’s wealth but its land (qtd. in Daly 66). Britain wants to possess India for its territorial expansion, and not to simply loot its wealth. Whether, for or against, the theme of British imperialism is evident in the novel’s texts. Moreover, Spivak noted that, it would be impossible reading the 19th century British literature without taking into account Bri tish imperialism, which England made its noble mission to society, because that was the very social context with which authors create their imagination (qtd. in Jolly 381). Thus, understanding Collins’s work from this perspective would not be irrelevant. As Nayder explains, authors of Victorian detective fiction thematically make use of crime and policing to subtly examine broader social issues (178). Looking through The Moonstone’s plot, theme, symbolisms, characterisation, and literary technique, the novel evidently fits this description. The novel is not simply a detective or a romance-detective fiction; imbedded in its intricate plots of crime investigation is the exposition of British imperialism, mainly demonstrated in a master/superior (English) – subject/inferior (Indian) relationship. A. The Novel 1. Backgrounder The Moonstone, which Collins had started by mid-1867 in his mid-forties, was his fourth but also his last best novel. After this, his succeedi ng works were considered either mediocre or failure; such was attributed to his deteriorating health condition at that time. (Page 20) Significantly so, he wrote The Moonstone at the most pressing time of his life: His most beloved mother got sick and died while he was painfully suffering from his worst attack of rheumatic gout, disenabling him to attend his mother’s funeral. But against all these, he had to keep writing; much has yet to be written for the magazines, All the Year Round (England) and Harper’s Weekly (USA), which had started serialising The Moonstone, not to mention his

My Life in the United States Essay Example | Topics and Well Written Essays - 1000 words

My Life in the United States - Essay Example My father called one of his friends who was studying at the US and enquired about the university in which he was studying. In 2009, I came to the US. I began studies in English Language Program at VCU and this was because I was not a native speaker of English. After that, I improved on my English as a second language day by day. When I was in ELP, I had difficulties in two classes, these were Listening and Reading, but despite this, I performed well in the tests. While in ESL, I met new students from different countries and I had a great time with them. My professors were also understanding and helpful, making my learning much easier. At the Fall semester in 2011, I completed my English Language Program. Since then, I have registered 16 credits which are Public Health, LS 100, ESL Reading, Mass media and ESL Communication. These classes make me confused, considering the fact that this is my first time as an academic student in my whole life. I found this semester to be hard and confusing at the beginning. This is because some teachers speak very fast and I find it hard to take notes in class. However, I believe that as the days go by, it is going to get easier and normal for me. Besides, I have to concentrate on what I came to do in this institution. In addition, UMU is a great university and the professors are going to teach me what I have to learn. I hope that my classmates and I will get good grades in all our classes. I believe in my father's famous quote that says, †would never reach your goal without difficulties.†

The Basics of Interpersonal Relationships Essay Example for Free

The Basics of Interpersonal Relationships Essay After considering your request for advice on interpersonal communications I have come to the decision that the information I have learned in my communications class could be beneficial for a young, recently engaged couple. Addressing the most important points could be useful, especially now that you both have decided to take your relationship to the next level. I have learned in this class that having good communication skills benefits everyone and that it is particularly important in building a stronger and more successful marriage. Although we communicate without giving it much thought, not everyone has the proper skills to communicate well so I have selected five areas of interpersonal communication which I will pass on to you in this letter. The skills I consider to be most crucial in achieving a long and happy marriage are, principles and misconceptions, self-concept, gender and cultural differences, nonverbal communication and last but most importantly, listening. There are many communication skills necessary to ensure a successful relationship, and when it comes to effective interpersonal communications there are many aspects of communicating that we need to remember. Communication and the way we communicate is said to be what separates us from our animal cousins. It is defined as â€Å"a process by which we share ideas of information with other people† (cited in Sole, p.5). Whether it is verbal or nonverbal, communication is the most important aspect of building a lasting relationship. Principles and Misconceptions To begin with I would like to explain a little about the principles and misconceptions in terms of interpersonal communications. It is necessary to mention that â€Å"Communication is not simply the exchange of words and information; it is the means through which we share knowledge, thoughts, ideas, and feelings with other people†¦the way people connect with other people†¦and it is these interactions that create the meaning and richness of life† (Cited in Sole, preface). Linguists who have studied the basis of the human language believe that the human language uses symbols such as words, pictures or objects to represent something else. It has been agreed upon that certain communications symbols stand for certain sounds or written combination of letters to equate to a particular object (Sole, 2011). Because the meaning of a word can conger up different images for everyone it is crucial, that when communicating with others, that there is a shared understanding of the meaning of the words to eliminate any misconceptions for either the person speaking or the person listening. Improving your interpersonal verbal communication skills enables one to be better understood and results in fewer miscommunications. Let me stress at this time that it is imperative that you take the time to get feedback when having a conversation in  order to make sure that the other person understands exactly what you are saying. Although it has been thought that good communication skills between loved ones are strong, recent studies show that couples are often times no better at communicating with one another than they are with strangers. I recently read an article that was published in U.S. News World Report in January of 2011 on communication, as it pertains to close relationships. The outcome of a study done by professors Kenneth Savitsky and Nicholas Epley offers valid examples of common miscommunications with couples. . As the study co-author Epley points out â€Å"Our problem in communicating with friends and spouses is that we have an illusion of insight (Epley, 2011). Many of us tend to assume that those we care about will be able to interpret the information we are offering without needing clarification. Well, this does not always happen. Effectively translating and conveying information while being sensitive to other people’s feelings is a skill. Even though communicating is often times complex, with continuous practice we can avoid the misunderstandings that can lead to problems in our personal lives. Having affective interpersonal communication skills can be the beginning; the initial step for bot h of you toward a mutual understanding which can lead to a successful relationship (Sole, 2011). Another important aspect of interpersonal communication that I would like to share with you is that of self-concept, which can be described as a complicated process that involves our gaining self-awareness, or in simpler terms, self-concept has to do with how we see ourselves as well as how others see us. It develops as a child and with the proper guidance can develop into a healthy image of one’s self. On the other hand negativity can also affect how we see ourselves (Sole, 2011). A child who grows up with positive reinforcement is more likely to be a confident individual who possesses the ability to converse in a more effective manner. It is here that I would like to disclose to you some personal information that will show how vital self-concept is. I was the product of a broken home. Now, you may argue that this is not unusual, but you should keep in mind that I grew up in the sixties; divorce was not as common as it is today. I was raised by a verbally abusive mother and suffered for a number of years as a young adult from low self-esteem, and as I have learned from taking this class, low self-esteem leads to insecurity and a lack of confidence. I worked for years to reverse the damage that was done. I was well into my thirties before I had gained the confidence necessary to build a good relationship. Since the psychological concepts of self relates to interpersonal communications in many ways, this is a critical factor in communications, not only how it affects the way we interact with others, but how they interact with us. In the textbook, Making connections: Understanding interpersonal communication written by Kathy Sole (2011), she notes that, not only is self-concept learned, it is changeable. It is developed through interaction with other. In other words, self-concept, self-image, and self-esteem not only define who we are, but govern relationship quality. Having a positive self-concept leads to positive self-image, this in turn ensures a more positive feeling of self-esteem (Sole, 2011). Gender and Cultural Differences From here we can start to access other problem areas that couples are confronted with such as gender and cultural differences. Gender and cultural differences is an area that many couples have difficulty with at one time or another. I am sure that you have noticed the diversity that exists when comparing the way men and women carry on a conversation. Even though we all want to connect to others there are distinct contrasts; not only is the language different between men and women but facial expression and body language are different as well. Words are interpreted differently. This can be said for cultural differences too. Generally speaking though, both men and women can be nurturing, sentimental and even aggressive. The afore mentioned emotions, as well as how we perceive each other and nonverbal communication, all go hand-in hand when striving to achieve effective interpersonal communications. Nonverbal communication It is surprising how much can be communicated without uttering a single word, or what is called nonverbal communication. Nonverbal communication can relay a message through a frown, a cold stare, or even shrugging your shoulders. Nonverbal  communications (the process of communicating by sending wordless messages) can time and again lead to being misunderstood. Nonverbal communications encompasses not only body language, but facial expressions, and can even convey communications simply by how we choose to dress. Since very few gestures are universal, there is often times moments of awkwardness (Miczo, Segrin, Allspach , 2001). What we consider perfectly acceptable may offend a person from other cultures and some messages we send via nonverbal communication are done so unconsciously. When we use nonverbal communications we are substituting those gestures instead of using words and sometimes nonverbal messages are misunderstood (Sole, 2011). This type of communication is often times misinterpreted. For example, there was an instance when I was much younger that I found myself at a social gathering with not only friends, but people I had not yet met. It was at this function that one of the men in the group was telling us of an incident that he had recently experienced. Because I smiled and laughed in, what he considered to be, all of the appropriate places he took this to mean that I was interested in him. It was embarrassing for me because that was not the case; I was simply being a polite listener. So you can see from my experience, our nonverbal communication is as important as the words we choose in communicating with another individual or group of individuals. Remember that having an emotional discussion with someone and using the wrong hand gestures and/or facial expressions might cause a person to misinterpret or misunderstand what you are actually trying to convey to them. Listening Last but not least, and often times one of the most overlooked issue when discussing interpersonal communication, and what I feel to be the most important part of successful communication for couples, is listening. I am sure you have found yourself at times not giving your full attention when someone is speaking to you. A lack of motivation is often times the culprit. We all have a tendency to start thinking about other things if the speaker is not holding our attention, I am including myself, but to be a good listener ensures, that given all of the information, you will be able to offer a valid response. In order to relate to others it is important to listen to what they have to say. Even though we have been taught from childhood various skills such as reading and writing, one skill that is often overlooked is listening. Most of us feel that we are good listeners, but most of us are guilty of only hearing not listening. Listening is essential to the success of a compatible and long lasting relationship, but let me add that bad habits in regards to listening can be changed. Communication is the very means by which we share not only our ideas, but our thoughts and feelings with others In summing up the information that I have provided you with, it is my hope that the facts laid out in this letter will help you avoid the pitfalls of conversation that plague many couples. Remember Sam and Katie, that it is not how often you converse, but more the quality of your conversations with each other and that to be a good listener it is imperative that you make every attempt to give the conversation your full attention. It is  my hope that providing you both with information to build a lasting relationship through good communications will ensure a long and happy life together. Congratulations again to both of you. Keep in mind that there are other important aspects when it comes to communicating effectively, but I have shared with both of you essential information regarding what I consider to be five of the most significant areas that often effect good communication in a relationship. â€Å"Take advantage of every opportunity to practice your communication skills so that when important occasions arise, you will have the gift, the style, the sharpness, the clarity, and the emotions of affect other people.† -Jim Rohn, Author and motivational speaker (1930-2009),. Your friend, Billie References: Close relationships sometimes mask poor communication. (2011, January 24). U.S. News World,1. doi: 2270370592 Miczo, N., Segrin, C., Allspach, L. E. (2001). Relationship between nonverbal sensitivity, encoding, and relational satisfaction. Communication Reports, 14(1), 39-48. Retrieved July 28, 2012, from Research Library. Document ID: 72022836. Preston, P. (2005). Nonverbal communication: Do you really say what you mean? Journal of Healthcare Management, 50(2), 83-6. Retrieved from ABI/INFORM Global. Document ID: 814698921 Schoenberg, N. (2011, January 17). Can we talk? Researcher talks about the role of communication in happy marriages. McClatchy-Tribune News Service. Retrieved from ProQuest Newsstand. Document ID: 2240370261 Sole, K., (2011). Making connections: Understanding interpersonal communication. San Diego, CA: Bridgepoint Education, Inc. (https://content.ashford.edu) Sprecher, S., Hendrick, S. S. (2004, December). Self-disclosure in intimate relationships: Associations with individual and relationship characteristics over time. Journal of Social and Clinical Psychology, 23(6), 857-877. doi:224670343

Evaluation Impact On Financial Operations Cadburys And Kraft Marketing Essay

Evaluation Impact On Financial Operations Cadburys And Kraft Marketing Essay Choosing the Topic After completion of all my fundamental papers in August 2010, I waited till the next session to decide to submit a research and analysis project for the Oxford Brooke University. The reason for such delay was the pressure to complete three professional papers in December session. This report is also important to me because I believe by having combination of both Profession qualification and a degree will uplift my career. To base my project on ACCA provided me with a list of 20 recommended topics to choose from. After reading through the list, the topic that immediately attracted my attention was topic 19 which was The financial and operational consequences of a merger between two organisations or of the acquisition of one organisation by another. What attracted me the most about this topic was that, it was all very relevant to my studies as I am thinking to pursue financial management after ACCA. I knew this topic will allow me to try out and learn the all important, analytical skills. Other reason to choose this topic was the much talked about acquisition of KRAFT and Cadbury therefore it encouraged me to choose this topic. Another reason was availability of the vast amount of information through the internet and press release because of recent release of Krafts recent fourth quarter in the month on February 2011. Choosing the organisation Once I chose my topic, I had to choose an organisation to base my research on. I chose Kraft and Cadbury for my analysis; it was an obvious choice as this was the acquisition that impelled me to select this topic. This was one of the most controversial and largest takeovers in the year of 2010. I believed the takeover by the 2nd Largest Food Giants in its industry would accomplish the objective I had in mind for the project. Aims Objectives The main objective of this report is to evaluate the consequences of the acquisition on the finance and operations aspect of KRAFT FOODS. The financial statements by themselves only provide the quantitative data which need to be analysed by drawn graphs. The main focus of this report, therefore, is as follows: To analyse the reasons for Kraft to make a strategic choice of acquiring Cadbury and whether it satisfy the strategic fit as claimed by the CEO of KRAFT FOODS in terms of financial and business operations. The second part of the research aims to analyse whether Kraft is on the track to achieve its targets it promised its stakeholders at the time of acquisition. Since financial information wasnt sufficient for my research, I need to review the strategic decisions made by Kraft for its subsidiary Cadbury after the acquisition along with the friction identified while integrating both business. The anticipated future of Cadbury under Kraft Group. In order to achieve the aims mentioned above, I have done qualitative analysis using SFE (Suitability, Feasibility Acceptability) and Ashridge model along with quantitative analysis using financial ratios and linking both to get an overall picture. THE ORGANISTAION Company Profile Kraft Kraft Foods is the worlds second largest food company headquartered in North Field, Illinois manufactures and market packaged food products, including biscuits, confectionery, beverages, cheese, convenient meals and various packaged and grocery products.( KRAFT FOODS INC, 2009)The business was formed by James L. Kraft and his four brothers who began by wholesaling door to door cheese business in Chicago. Kraft then achieved growth by merging with other companies and increases the size of the business by expanding more product lines.( Wikimedia Foundation,2011) Being listed on NYSE, Kraft now has approximately 127,000 employees worldwide. Kraft sells products to consumer in approximately 170 countries. At 31 December 2010, Kraft had operations in more than 75 countries and made products at 223 manufacturing and processing facilities worldwide. Kraft portfolio included eleven brands with annual revenues exceeding $1 billion each: Oreo, Nabisco and LU biscuits; Milka and Cadbury chocolates; Trident gum; Jacobs and Maxwell House coffees; Philadelphia cream cheeses; Kraft cheeses, dinners and dressings; and Oscar Mayer meats. Kraft portfolio included approximately 70 brands which each generate annual revenues of more than $100 million. (KRAFT FOODS INC, 2010) Cadbury Cadbury was a leading global independent business in the exciting world of confectionery, a large, growing, brand-led industry. With an outstanding portfolio of chocolate, gum and candy brands, the largest emerging markets business and a focused and experienced team, Cadbury is committed to its long-term vision to be the worlds biggest and best confectionery company. Cadbury operated in more than 60 countries with a workforce of 46000. (Cadbury, 2008) Cadbury made its beginning by opening one single shop by John Cadbury. As time progressed John Cadbury moved into the manufacturing of drinking chocolate and cocoa. Cadbury grew bigger through some organic growth and some mergers. During the first world war Cadbury started to achieve great success, its products were regarded as necessities and Cadbury were at their peak. Cadbury kept investing in technology, new factories and in new products to remain ahead of competition. With factories all over the world and a host of well known brand names it has become a household name in many countries. (Birminghamuk, (n.d.)) INFORMATION GATHERING Sources of Data Data can be collected for any research by the following ways: Primary Research: Under primary research new information is collected via interviews, survey or questionnaire etc; hence information is collected first hand. Secondary Research: Also known as Desk Research is gathered from information which has already been provided but may not be for the same purpose. Such information are easy to access and are my cheaper than carrying out primary research. Such information gathered should be analysed and screened properly so that it fits for the purpose. Kraft and Cadbury both being listed companies although listed in different countries were required to issue annual accounts for its stakeholders by Sarbanes Oxley and Companies House respective. These companies especially Kraft issued Interim Reports as per the stock list requirement. Therefore much of the quantitative and qualitative date was readily available for analysis. Hence I chose to use secondary data over primary. The only complication I faced apart from time pressure was obtaining latest financial information for Cadbury (2009 accounts). Fortunately Kraft public relation team co-operated and emailed me 2008 and 2009 Cadbury annual accounts on my request. The following are the sources of secondary information I used for my project: Annual and Interim Financial Accounts and Reports This is the main source I used for financial aspect of my business and to draw graphs. I had to use interim reports even to demonstrate impact of Cadbury acquisition on Kraft at each and every quarter due to complexity of the business. Krafts annual accounts were available to view and download on Krafts Investors Website. However Cadbury financial statement isnt easily available. Internet This is the source of limitless information; hence it took me a lot of time to extract information which was relative to the point. Firstly it provided me the qualitative information which was missing or less in the financial statement of both entities. Secondly it also provided me information from a third party or neutral point of view. Letters and Reports Under this source, I analyzed the documents sent by Kraft to Cadbury management or reports addressed to Kraft shareholder explaining them the strategic fit of Cadbury acquisition. These documents were available over the internet. Library I used study text published by Kaplan for ACCA to brush my skills and be of aid when I got confused during an analysis phase. Apart from my course books I visited local library for reference books. As I mentioned earlier I didnt had an opportunity to visit British Library for the access of database such as Datamonitor and Mintel. However I was able to get access to Euromonitor through internet and used it as a tool to aid understanding of the application of analytical tools regarding acquisition and both the entities. Data Collection Methods Its easy to collect data, but skills are required to make sense of data and using it for the purpose. It was a fiddly job to collect reliable authentic information to base my reports on. Any negligence on my behalf may cause me a failure in achieving the report objectives. I was cautious and took my time to read through all the information once before starting with my project. As this acquisition was of the biggest acquisition in the year 2010, too much was written by the newspapers and media about it. Reading about the merger in 2011 gave me this idea to do a project on Kraft and Cadbury, as Kraft were about to issue its fourth quarter results. I started my data collection by reading articles from local newspapers as well as papers or journal published in other counties. I viewed them retrospectively. The most prominent newspaper I viewed was Financial Times, Guardian, Reuters, Wall Street Journal and Economists. After I got a general idea behind the acquisition and critics claiming the acquisition as a failure. I downloaded the fourth quarter as well as annual report. I need to know what did CEO responded on the acquisition as it had been a year. Then I looked at financial data provided to support any statement by the CEO. Internet provided me great deal of help in my project. I type in the keywords such as Cadbury Kraft in etc at www.google.com . Find the relevant articles and making notes as well as bookmarks of the WebPages if I needed to read it again for qualitative part of my research. I even visited many libraries in my local areas; the librarian helped me by giving me advice on referencing as I had no idea on references. Unfortunately I couldnt make a trip to British Library to access database which could help me in my project. But I was pretty content with the amount of information I already collected to carry out my analysis. Referencing I have used the HARVARD REFERENCING SYSTEM for the referencing in my research and to aid readability, I have cited the source below the paragraph if the whole paragraphs were written based on the same single source. Acquisition for Kraft Pre Acquisition To systematic analyse the strategic choice by Kraft to acquire Cadbury, I will be using Johnson and Scholes framework (Suitability, Feasibility and Acceptability Model). (Wu, 2010) Suitability Kraft Foods Inc. being the second largest food company still looks for opportunities to grow and try to remain one of the market leaders in the industry and and to spread risk by a diversified portfolio. Kraft believes in rapid expansion by acquiring other businesses. Kraft adopted new strategy implemented by new CEO who believed low growth segment should be disposed of and adopt those strategies that will achieve rapid growth even by means of acquisition .Kraft will look for businesses that will build on its strengths and guide against its threats. Kraft has a successful track record of acquiring iconic brands and businesses and effectively using it for its expansion. We will be using one of the criteria of Ashridge model under suitability. Under Ashridge model we will be examining two criteria; whether Kraft has sufficient skills, resources and understanding of the Cadbury business and whether there are opportunities for helping to achieve critical success factors. (Steiner, 2009) Source: Euromonitor One key reason for Kraft to acquire Cadbury was to penetrate in those growing markets where Cadbury has good base such as China, India and Mexico. Brands such as Cadbury Dairy Milk dominated such markets by a vast length compared to its rivals. Cadbury did receive 40% of its revenue from fast growing emerging market. Cadburys acquisition of Adams played a vital role to increase their market share in Latin America. Cadbury has experienced 12% growth in revenue in emerging market over five years (EUROMONITOR, 2008) this can be beneficial for Kraft as it intends to use Cadbury s distribution network to sell its brands. (Cadbury, 2008) (Cadbury, 2009a) Kraft being aware of Cadbury s heritage and its strong confectionery business ranking and its iconic brands makes Cadbury globally number one in chocolate, gum and candy. By attaining all these eponymous brands Kraft will become a global powerhouse in snacks, confectionery and quick meals with exceptional portfolio of leading brands in the world. Hence will be one step closer in achieving organic growth objective. Feasibility Under feasibility we would evaluate Krafts position before acquisition in terms of internal resources of the organization this can even be connected to Ashridge s model criteria of possessing sufficient resource by Predator Company. Kraft being second largest business in its industry has huge cash reserve which reflects in its Cash flow Statements of 2008 and 2009 ($1.24 billion and 2.10 billion respectively). Buts its worth mentioning the disposal of Krafts North American Pizza to Nestle for total consideration of $3.7 billion contributed majorly to its high cash reserve. High cash reserve helps them to with acquisition cost and integration cost and any other abnormal cost. Apart from cash reserve Kraft does have reasonable current ratio of 1.04 reflecting its above average liquidity position then its peers. Although Cadbury has a strong hold on overall emerging markets Kraft have a greater position in some markets such as Brazil and Russia. As Kraft being a huge conglomerate busine ss it has vast amount of resources in terms of specialist staff, a highly invested research and development teams and finance etc to back up Cadbury to face competition from other rivals such as Hershey and Mars. Kraft can eve use its power over major supermarket chains such Wal-Mart to increase shelf value of Cadbury as majority of its sales come from small convenient store. Kraft is even able to promote Cadbury heritage brand more rigorously due to available of immense resources. It would be worth mentioning the fact that billion dollar Kraft empire has been experiencing an average growth of impressive 5 % over period of four years to 2008 (where it achieved 13% growth than previous year).(Daltorio, 2009) Acceptability To carry on with a strategic choice it also need to be acceptable by the stake holders. As shareholders are key stakeholders their consent is highly important. Although Kraft assured them the acquisition would result in increase in shareholders wealth as it fits in into its business culture, some shareholders have different opinion. One of the reasons for such conflict of interests is the fear of increase in companys gearing. By 2008 Kraft had a high gearing of 1.34 (ratio) compare to its rival Nestle of (0.36). They fear by acquiring Cadbury, Kraft would issue more long-term debt that may adversely affect the gearing ratio and hence increasing the financial risk of the business and affecting the capability of paying out dividends, hence damaging shareholders interest. The other reason for conflict of interest was the reaction from one of the biggest shareholders Warren Buffett of Berkshire Hathaway who regarded the acquisition as bad deal .He believed Kraft has overvalued Cadbury fo r purchase consideration and the disposal of pizza business to Nestle for $3.7 billion was a mistake. He firmly believed Kraft is paying high premium for the acquisition. One shareholders view didnt affected Krafts strategic choice and Kraft went ahead with the acquisition despite got rejected first time. (Barr, 2010) Ballast Businesses *CADBURY* Heartland Businesses Alien Business Value trap Business Skills Opportunity Low High High According to my analysis I think Kraft values Cadbury as Heartland Business as Kraft has the skills to exploit opportunities from Cadbury. (UNDER ASHRIDGE MODEL) ACQUISITION for Kraft The long clashing 5 month battle between Cadbury and Kraft was finally over on 2nd February 2010 as Kraft clinches control over Cadbury by 72% holding. Kraft then took total control of Cadbury on June 2010. Cadbury shareholders had a deadline of 2nd February to accept Kraft offer of 500 pence in cash for each Cadbury share and 0.1874 new Kraft shares for each Cadbury share which altogether values each Cadbury share at 840 pence including a special 10 pence dividend. This sums up the total valuation of Cadbury business to approximate of  £11.9 Billion ($19.4 Billion). Kraft offered this purchase price on 19th of January after a long negotiation with Cadbury management. Kraft tried to make hostile takeover on 7th September by a bid worth 300 pence in cash and 0.2589 new Kraft shares for each Cadbury share (valuing it 745 pence a share). However Cadbury rejected the bid immediately and regarded it derisory. Kraft sweetened the bid by raising the original offer and increasing the cash component from 40% to 60% to make it more appealing for Cadbury shareholders. (Cimlluca et al, 2010) http://graphics.thomsonreuters.com/0210/EZ_CBRY0210.gifI have extracted this graph from Thomson Reuters to illustrate the impact on the share price for both involved parties after the announcement of take-over. We notice an increase of almost 40% in the market value of Cadbury. The increase in Cadburys share price was triggered by the initial announcement by Kraft of its intention to take over Cadbury in early September of 2009. The announcement was received well by Cadbury Shareholders causing an increase in demand and thereby price of the stock. However we see a fall in the share price of Kraft food at the time announcement (graph below), some analysts believe this was due to Warren Buffet dissatisfaction of Kraft Acquisition. He regarded the acquisition as bad deal, which caused chaos amongst other shareholder hence a price falls. This price fall deteriorated the purchase price offered by Kraft which was immediately rejected by Roger Carr, Chairmen of Cadbury. http://graphics.thom sonreuters.com/0210/EZ_CBRY0210.gif (Wiggins, 2009) Source: Digital Look(Munya , 2010) http://data.moneycentral.msn.com/scripts/chrtsrv.dll?symbol=kftE1=0LPR=2C1=2C5=6C5D=1C6=2009C7=6C7D=1C8=2010D5=0D2=0D4=1DD=1width=612height=258CE=0CF=0palette=2AF=2 KEY POINTS FOR FINANCIAL ANALYSIS Kraft foods acquired Cadbury plc in February2 2010. Hence Cadbury results are restricted to 10 months rather than full 12 years and its subject to fluctuate with moving exchange rates. Cadbury data was adjusted from IFRS (previously applied by Independent Cadbury) to U.S GAAP followed by its new Parent Kraft Foods Inc. Cadbury previous years figures couldnt be compared with unless comparison is made in percentile due to the size difference of both businesses. Kraft even revised its Net Revenue retrospectively 2009 onwards.Post Acquisition Financial Perspective The above graph represents s the growth and decline in sales over a period of 4 years by means of percentage. The 2010 information contains data post acquisition, specifically contribution from Cadbury of $9143 that has been converted using the exchange rate of $1.595 per  £1.00 for the aid of analysis. It can clearly be noted the reason why Cadbury was so desirable by Kraft. Cadbury attained significant growth from 2007. In June 2007 Cadbury introduced their Vision into Action plan which insisted in strengthening their position in emerging market. This strategy was immediately effective and can be reflected in the graph. As stated earlier in this research report one of the key reasons for Kraft to acquire Cadbury was their better position in emerging market as compared to Kraft. Although Cadbury has just been acquired for 11 months under Kraft we see a marginal fall of 4% in Cadbury sales than its preceding years. This maybe because Kraft maybe getting acquainted to Cadburys opera tion and network hence not utilizing Cadburys full potential. (Cadbury, 2009a) This graph explains what did Krafts CEO meant by GLOBAL POWER HOUSE. If we examine the two graphs we see a change in the revenue from developing and North American markets. The main reason for Kraft to takeover Cadbury was to derive maximum benefit of Cadburys strong hold in emerging market. Although Kraft is one of the largest companies in food industry it drives more than 57% of its revenue from its Home Market US. As US market is experiencing economic recession Kraft needed to adopt an effective strategy to broaden its operations globally. Hence Cadbury looked more attractive from Krafts perspective. Its worth mentioning that Cadbury earns more than 40% from the fast emerging markets portraying its position being better than Kraft.. It should be taken into consideration that fact that Kraft hasnt launched any new aggressive marketing scheme or any strategic step via Cadbury in emerging markets. In 2010 Kraft has continued to run Cadbury operation without making any major changes. Talking quantitatively Cadbury boosted Krafts net revenue in emerging markets by $3382 million which can be seen clearly in the graph at the bottom. Krafts strengths in Russia, Brazil and China along with Cadbury great position in United Kingdom, India and Mexico has spread its revenue source which has reduce the risk of a recession affecting Krafts sales .By acquiring Cadbury Kraft enhanced its distribution channel which became effective in the first year of acquisition and clearly be seen in the 2010 net revenue segments. In 2010 revenue from US market contributed less than 50% to Total Net Revenue minimizing the business risk driven by recession. (Farrell et al, 2010) The above illustrated graphs represent the change in Krafts revenue source after the acquisition of Cadbury. Krafts adopt a rational approach and pursue the strategy of selling off less profitable brands and achieving quick growth by acquisition. Kraft faced fierce competition from private label companies in the cheese and packaged meat market. Therefore Kraft acquired Cadbury to diverse its revenue source as there were dangers of fall in revenue from its main segments. There is an increase of 16% in the contribution made by confectionery segment. This segment is a high potential growth segment and Kraft would like diverse its business risk by investing more in promotion of this segment. (Trefis, 2011) The Gross margin shows the amount of gross profit generated by the company as a percentage of the sales revenue. Kraft Gross Profit Margin has been plotted against each quarter from 2009. It can be analyzed by the graph that Kraft tried to maintain its Gross Profit Margin in mid 30s percentile despite economic downturn in US market and increase in raw materials Kraft is able to maintain its objective, the main grounds for such level gross profit margin was the acquisition. By acquiring Cadbury Kraft has widen its distribution network as Cadburys main selling networks are convenient stores open on High Street therefore reach of every individual. Talking in respect on cost of sales (100 Gross Profit Margin) Kraft will benefit from economies of scale especially regarding purchases as Kraft will be bulk buying and using Cadbury suppliers rationally to minimise cost of sales as possible. (Szalai, 2011) Net Profit Margin is an indicator of profitability, calculated as net income or net profit divided by net revenue. As shown by the graph, we see a downward trend in the net profit margin against each quarter in 2010.Despite the fact that there has been a 27% increase in Net Revenue in 2010 as compared to its preceding year, we notice a fall of 23% in net profit especially in the fourth quarters of 2009 and 2010 ($711m and $547 respectively. However in aggregate there has been an increase in the net profit from 2009. The major reason for such deteriorates result for the fourth quarter was the cost associated with integration between Kraft and Cadbury. The pizza business of Kraft did contributed to the net profit in 2009 , by the sale of its pizza business to Nestle ,Kraft has deprived itself from the positive contribution of its disposal component.(BBC, 2011) The Prime objective of making investment in any business is to obtain satisfactory return on capital invested. Hence, the return on capital employed is used as a measure of success of a business in realizing this objective. Return on capital employed establishes the relationship between the profit and the capital employed. It is used to show the overall profitability and efficiency of the business. By analysing we see a fall in return on capital employed although the sales and net profit overall has increased however it hasnt increased by the proportion of investment made by KRAFT FOOD. As Mr. Warren Buffet feared that Kraft did overpay for the acquisition this can be reflected in diminish of return on capital employed. I have also included a graph showing fall in earning per share that illustrate the point of less return for the investors this maybe due to issue of new share to Cadbury shareholders. (Wilson , 2010) I have included this graph in my research report especially to breakdown the positive and negative contribution made by Cadbury to Kraft operating income in 2010 as compared to Kraft in 2009. As announced by CEO of Kraft Foods, Kraft is highly likely to expect $1 billion in incremental revenue synergies apart from $750 million in cost saving by 2013. In order to achieve the synergies Kraft has budgeted to spend $1.5 billion in the first three years following the acquisition to combine and integrate the two businesses and already incurred $657 million in 2010. As stated in Kraft Annual Account 2010, Kraft incurred and expensed transaction related fees of $218 millions in 2010 and $40 million in 2009.Kraft has recorded the mentioned costs under selling, general and administrative expenses in Profit and Loss Statement (Statement of Comprehensive income). However in the above graphs include figures which has been given in the Kraft 2010 annual accounts analysis of operating profit rather than actual incurred cost as some cost have been taken under finance cost which hasnt been included in arriving at operating profit for 2010. This seems a draw back in the acquisition objecti ve and maybe criticizes by its stakeholders as integration cost has reduced Krafts earning by 33%. (BBC, 2011) Liquidity ratio expresses a companys ability to repay short-term creditors out of its total cash. The liquidity ratio is the result of dividing the total cash by short-term borrowings. This Graph represents the two liquidity ratio one normal current ratio and another quick test ratio. Unlike Current ratio, quick ratio focus on the most liquid assets hence it exempt inventory from current asset while calculating ratio. Some of the key points that need to be addressed before analysis of the graph are the disposal of the pizza business and all the working capital relating to it. We should also account for the current assets and current liabilities acquired by Kraft such as Net Receivable of $ 1333 m and Accounts Payable of $ 1605 m etc. Another point to be mentioned is that while calculating Quick ratio I havent excluded the deferred tax asset, while some analyst exclude deferred tax asset as they dont regard it liquid. We see a significant difference between both ratios as inventory has occupied much of the working capital. Comparing it to the last year it is almost consistent with the growing sales. We notice a slight deterioration in both the ratio of 2010. The $3.7 billion cash raised by disposal of the pizza business was used to pay cash component of the acquisition. The rise in the actually figure is in line with the growing and diverse sales (Kraft Foods Inc, 2010) Gearing Ratio is a measure of financial leverage, demonstrating the degree to which a firms activities are funded by owners funds versus creditors funds (investopedia).The above graph represents how much company has borrowed compare to equity raised by KRAFT FOODS. Kraft had issued a long term debt of $9.379 billion (net proceeds) to support the cash component of Cadbury of acquisition along with proceeds from Pizza Business. Kraft even made a repayment $2.1 billion of long term debt during the year. This has increased the total debt of the business from $18990 million to $28724 Million. Kraft has also issued 262 million shares to existing Cadbury shareholder as part of purchase consideration. This has enlarged Krafts share capital affecting the gearing ratio. By taking into consideration the above mentioned circumstances, we see an increase in the gearing ratio of 7%. This may cause some concerns amongst shareholders and lenders of Kraft as the financial risk of the business has increased as more interest will be paid from the profits available to pay dividends to shareholders. (Tradition Financial Concept.). This may even damage the creditability of KRAFT FOOD in lenders market as it has borrowed 80% to Equity, hence it may be charged high interest rate by the lenders in future. (Kraft Foods Inc, 2010) (Hoskins, 2010) Interest cover is a measure of the adequacy of a companys profits relative to interest payments on its debt. This ratio will help to explain the previously mentioned financial due to increase in gearing. Due to the increase in leverage we see a fall of 0.94 in interest cover which means there would be less profit available for dividends. This maybe is one of the reasons why Warren Buffet (one of the major shareholder in Kraft) reduced its stake from 9% to 6%. The ratio is over 2 which is considered strong by analyst and reflects Krafts strong position in borrowers market. However Fitch, one of reputed credit rating agency, has downgraded the default rating on both companies to BBB-. However its rivals havent downgraded the rating as yet but our reviewing if they should follow their peers. Flitch has downgraded the rating due to anticipated increase in financial leverage of the combined Kraft/Cadbury. (Peters et al, 2010) Operational Changes Post Acquisition The significant changes in operations along with their impact on KRAFT FOOD GROUP as a whole: Closure of Somerdale factory Days after acquisition Kraft announced the closure of Cadbury factory in Bristol. During the acquisition struggle, Kraft pledged to retain Somerdale Factory. The announcements created a chaos amongst Cadbury workforce and British Unite trade union as 400 employees were being made redundant. It would be worth mentioning; Cadbury prior to its acquisition (in year 2007) had already announced the closure of its Somerdale factory as they had invested more than  £100million in the production plant in Poland to be cost effective. However at the time of acquisition Kraft assured Cadbury stakeholders that it will keep the Somerdale factory running. Kraft tried to justify the closure by stating that they made a genuine attempt to keep it running but its irrevocable. This had a negative impact on the motivation of 5400 Cadbury employees working United Kingdom as they feared less job security .Kraft faced high criticism from British media which lead to boycot

Personal Narrative - Driving Test :: Personal Narrative Essays

Personal Narrative- Driving Test As I walked out of the courthouse and down the ramp, I looked at my mom in disappointment and embarrassment. Never wanting to return to that dreadful place, I slowly drug my feet back to the car. I wanted to curl up in a little ball and I didn't want anyone else to know what I had done. Gaining my composure, I finally got into the car. I didn't even want to hear what my mom had to say. My face was beat red and I was trying to hide my face in the palms of my hands because I knew what was about to come; she was going to start asking me questions, all of the questions I had been asking myself. Sure enough, after a short period of being in the car, the questions began. "Honey, how could we have miscalculated six months? My frustrated reply to every question was, "I don't know!" Maybe this was a sign I was going to fail. I could only imagine how my brother and sister were going to make me feel. They had teased me about studying so hard for the permit test. Now here I was, not actual failing the drivers test, but failing to go on the correct day. Exactly one month later, all of the fears that happened in the past were returning. Was I going to fail? Was I going to get the same, strict instructor? As I slide out of the car and slowly shut the door, I could only hope that the same person wouldn't be there when I attempted to take my driving test last time. With that thought running through my head, my brain was in overdrive. All the wheels were turning as fast as they possibly could. I tried to zone out the negative stories I heard by telling myself, "I can do this. I just drove through town on a practice run and I did perfectly fine." Of course, the fear of failure kept popping in my head and I couldn't get rid of it.Sluggishly, I made my way to the entrance of the courthouse. As I reached for the door, I let out a sigh of worry. I moseyed down the stairs trying to stall as long as possible. All that I could picture was the instructor with dark, slanted eyebrows that made a wrinkle between his two critical eyes.

The current problems with the accounting methods of Rodney Street Essay

The current problems with the accounting methods of Rodney Street Private Clinic Analysis- Scenarios Private Clinic ‘Rodney Street Clinic’ is a private clinic in which doctor’s see patients privately and for medical reports following injuries. Currently all fee notes for patients and solicitors are sent manually and are not registered on a computer system. Problems with the accounting methods are that the accounts are hand-written, so not everybody may be able to read and understand writing, particularly during holidays and periods of sickness of the usual staff as the hand writing is not their own. Another problem is that all fee notes are stored in a filing cabinet. Due to this, fee notes are occasionally misfiled so it is time consuming for the staff to find them, and if a further copy is required, it has to be written out by hand again, rather than simply being photocopied. The final problem is that the system is not efficient, as documents have to be continually written up which is time consuming. What is required is a computerised database, which is simple and efficient to use in order to control the accounts of the practice. Ideally it should also be able to flag up accounts, which are overdue, instead of the current system of having to do it â€Å"by hand†, which is time consuming and can be inefficient. The system should also be able to keep the details of fee notes sent on the database, so that if a repeat bill needs to be sent, it does not have to be typed out once more. Video Tapes ‘Mega Movie Video Store’ is a video store, which both rents out videos and also now sells them too. Presently workers at the video store have found it difficult to remember which videos are in stock and where about they are located in the shop. Problems with their organization is that they forget which videos are in stock and also they have no data to refer to in order to tell them this. A further problem is that they also forget where videos are located in the shop and they again have no data to refer to in order to tell them this and they rely purely on memory. What they would like is a computerized database, which gives printouts that help them. This database would sort the files into alphabetic order and would give them the total number of videos in stock. This database would also tell them what format the item... ...notes sent on the database, so that if a repeat bill needs to be sent, it does not have to be typed out once more. System requirements for chosen scenario In order to overcome the problems I am going to design a computerized system using such software programmes as Microsoft Access, Microsoft Excel and Microsoft Word. This is rather than using a manual system which uses filing cabinets. I will insert all data off written documents into computer database and then store them so that they are available to view at any time and as many copies as necessary may be printed. I will use a font in my computerized database that is sufficiently big enough and clear enough for the user to read. This is better than having a manual system where handwriting is involved because there is then little to no chance that somebody may not be able to read the text properly. This system should be both efficient and simple to use and it should be able to note on the database and let the user know if accounts are overdue and if fee notes need to be sent. Finally I will create a mail merge so that letters do not have to be continuously written or typed out time and time again.

Case Study of the Nu Moorish International Group

The Nu Moorish International Group of Science and Development Mir No. 10 is here to improve the development Of humanity, we aim to educate and uplift our present condition and restore consciousness to a higher level our values consist of honesty integrity and loyalty. All of these values will be used to ascend and enhance and build confidence. Each of these values wills foundation. Leadership is essential and key to promote growth within our congregation the foundation will be embarking on principles that will encourage higher learning and establish discipline for a learning environment manifest great minds that produce great thoughts.The laws of I. S. L. A. M will be used as a tool teach the mastery of self guidance Teaching is the most prominent tool used to help with guidance, discipline self order. T. N. M. I. G. will be instrumental in gearing our constituents for higher Learning so they can be effective not only in society but also at home as well. The Nu Moorish International Group of Science and Development Mir No. 10 is not governed under any defacto laws or any entity under the corporation is ordered under The Moorish International Group of Science and Development.We are a freeborn people and are the Autochocton of Amexem we here at The Moorish International Group of Science is here to empower, to become and to create without any commands. TheNu Moorish International Group of Science and Development Mir No. 10, I deem it proper to submit a brief statement of our organization, covering its inception, rise and progress and of the Mohammedan religion. Which I hope will be satisfactory to you and be the means of causing you all times to adhere to the principles of Love, Truth, Peace, Freedom, and Justice in your relations with humanity in general.I further, most anxiously hope this brief statement will help you to more clearly see the duty and wisdom of at all times upholding those fundamental principles which are desired for our civilization of our poste rity, such as obedience to law, respect and loyalty to government, tolerance, and unity. The object of our Organization is to help in the great program of uplifting fallen humanity and teach those things to make our members better citizens. A National organization with a Rotarian complexion as it relates to branch Temples became obvious with the ncreasing number of inquiries from men and women in different sections of the organization. There are branch Temples in fifteen different states at this time. Inspired by the lofty teachings of the Koran, we have it as the revealed word of God Allah. We shall foster the principles of its teachings among our members. This is our religious privilege as American citizens, under the laws of one of the greatest documents of all time, the American Constitution.Purpose and Scope. Nature: The Nu Moorish International Group of Science and Development is concerned with the human service endeavor known as teaching and coaching in an organizational cont ext. The Nu Moorish International Group of Science and Development members engage in dialogue and projects together to promote, critically examine, and further the quality and success of teaching in organizations. Diverse applications of teaching in an organizational context affect the success of the workforce, for example, through executive Teaching, Science, leadership, performance, alignment, and health, among many other strategies for overall organizational success.Meaning: What the diverse Teaching applications in organizations hold in common is that people and, Therefore, their organizations benefit significantly from the thoughtful and compassionate assistance of an effective and experienced coach, who may either stand outside the formal authority structure of the organization, or be a part of the internal professional development system of their organization. Purpose: The Moorish International Group Of Science and Development’s purpose is to maximize the success and e fficacy of Teaching in I. S. L. A. M. t a global level. This encompasses the ongoing expansion of knowledge about how and why Science and Development produces positive results; the continuous creation of resources – theoretical and practical – and sharing of best practices. Critical to this endeavor is the integration of all Leadership in dialogue, research and debate, to contribute to the growing success of teaching solutions in Science and Development. Scope: As implied in the name, The Nu Moorish International Group of Science and Development is National and international in scope.This organization intends to serve Constituencies located throughout the world. Given this fundamental intention, The Moorish International Group Of Science and Development shall be mindful of the differing languages, values and customs of these constituencies, as well as taking into account the logistics of time, space and finance that often impair equitable participation of various const ituencies in international consortia of this type. Diversity of perspectives and cultural views is both respected and promoted in The Moorish International Group of Science and Development.Young Leadership: In seeking to examine, promote, and advance the success of Teaching and coaching in an organizational setting, the national and International Consortium for Coaching in Organizations is intended as a forum for all people involved in coaching in organizations: the organizational users of Teaching and coaching, those who train and educate Science and Development , firms who employ coaches and arrange the delivery of Teaching services, the men and women who conduct research and provide scholarly review of the field, as well as those who devote their talents to the practice of coaching and to ongoing critical reflection on their own practices. Structure: The structure of The Nu Moorish International Group of Science and Development is also conveyed in the title. This organization is a consortium.A consortium is a loosely coupled, yet committed, group that may include individual members, organizations, associations, and professional firms. The consortium shall include businesses, corporations, coaches, coaching firms and as well as supporting organizations, like academic and other coach training programs and associations that provide continued professional education or promotional help. Membership will include both direct providers and users of organizational coaching services, including those who support the growth of the field as a profession through research partnerships, donations, and indirect involvement. .Distinguishing Characteristics The Nu Moorish International Group of Science and Development embraces five distinguishing characteristics.1. Results-Focused. The Nu Moorish International Group of Science and Development is committed to initiatives that maintain the quality and credibility of coaching practices in organizational settings. These initiative s will always be result-driven. By focusing on results, rather than on compliance with specific training doctrines, the consortium acknowledges the diversity of coaching settings and the diversity of approaches, which create results around the world. 2. Non-Political and Non-Ideological. The members of The Nu Moorish International Group of Science and Development believe that there is no one right way to do organizational Teaching.Conversely, while the proposed consortium is ?non-political,? it is also clear that The Nu Moorish International Group of Science and Development must attend in a serious and sustained manner to the issue of ethics, measurement and accountability. The Moorish International Group of Science and Development is not organized to support each and every mode of coaching in organizations, but is rather an organization that researches, assesses and makes available to its members data on the impact and relative advantages of different coaching strategies, using a v ariety of quantitative and qualitative measures of results as defined by the constituents. In sum, the consortium is apolitical, but not uncritical.The Nu Moorish International Group of Science and Development allows for—and actively encourages— multiple perspectives on Teaching, rather than pushing for the one right way or a single de facto standard. Yet, The Nu Moorish International Group of Science and Development also seeks to discriminate between fads and solidly established Teaching practices. The Nu Moorish International Group of Science and Development recognizes and accepts that there might be an enduring tension between the need for an acceptance of multiple strategies and the need for critical review of all strategies. Members of The Nu Moorish International Group of Science and Development believe that this tension is healthy and effective for an organization of this type.This second distinctive commitment allows The Nu Moorish International Group of Scienc e and Development to provide professional evaluation, career development and practice-building support to Teaching, assisting them to create results-based profiles of their experience (by providing result categories, examples of effective documentation, etc. ). Research/Scholarship Focus. Rather than just focusing on use of existing Teaching and coaching tools, the Members of The Nu Moorish International Group of Science and Development endeavor to build a base in theory and research that is geared toward application of teaching strategies.Bridge to the Broader Coaching Community: The Nu Moorish International Group of Science and Development is distinguished by its efforts to encourage—and co-sponsor—venues in which there is extended dialogue among different coaching modalities. Offering the gift of a true ederation around the world among coaching constituencies brightens the future of coaching for overall organizational success. Membership A. There are two Voting Cate gories of The Nu Moorish International Group of Science and Development membership: (1) Individual Membership (for both individual providers and recipients of coaching services) (2) Institutional Membership (for organizations that utilize coaching services, organizations that provide coaching and those that provide programs for the training of coaches) b) No-For-Profit, governmental, NGO etc. Annual Institutional Membership Fee (Annual Budget: >US$200 M) Annual Institutional Membership Fee (Annual Budget: