Testicular tumors- Large cell calcifying sertoli cell tumors Essay

Testicular tumors- Large cell calcifying sertoli cell tumors - Essay Example The sertoli cell tumor is normally malignant and does not spread to the other parts of the body. It is not only seen in human beings but also in species like horses, dogs and ducks. They do not show any symptoms of illness other than a painless lump of mass in the testicals.Under the microscope, sertoli cell tumor display a closely situated solid and hollow tubules lined by epithelial cells. This tumor can be diagnosed with histological and pathological tests. The usually conducted treatment is surgery .For malignant tumors the treatment conducted are chemotherapy and at times radiation therapy. Many a times to detect the tumor in earlier stage repeated physical examination and imaging is required. The prognosis of the tumor which is benign is good as the growth of it is very slow. The History of Sertoli Cell Tumor The discovery of sertoli cell can be accredited to Enrico Sertoli who was just 18 yrs old when he began his studies in research at the university of Pava, in Northern Ital y in 1860.He studied general medical subjects at first and after 2 yrs began his research studies in the laboratory of the distinguished physiologist and histologist, professor Eusobio Oehl. Sertoli was born on June 6, 1842 to a noble family in the small town of Sondrio, located North of Milano along the Italian - Swiss border. His noble birth in all probability meant that he was expected to attend university and study medicine. The cellule ramificate or branched cell was discovered using the personal microscope of Enrico Sertoli. He had purchased the microscope in 1862, after he began his studies under professor Oehl. The quality of the microscope and the personal importance are evident by the care that Sertoli devoted to it, which has permitted its survival for more than 100 years. In anticipation of the microscope’s arrival,Sertoli likely collected several pieces of human testes preserved in a sublimate solution that he later reported as the incubation solution of choice a t that time.Sertoli used several types of preparation of testes, including mocrodissection of individual seminiferous tubules, thin sections of the testis after sublimate incubation, pieces of fresh tissue and frayed sections of tubules.Sertoli has spend numerous hours with the microscope in the laboratory but was skeptical that the testes might have remained in the sublimate solution for longer time which could affect the result. Sertoli performed tests with different methods and improved his observation and laid out different drawings of his findings. In his drawings sertoli included round germ cells, seminiferous cells embedded within the branched cell limbs.Sertoli drew intricate details of what he observed and report lipid droplets in this cell. He mentioned several times that the lipid could exert very important functions in the cell, a function that we still know little about today. He also drew the cell as appearing syncytial or as branched multinucleated cell , which surely raised many questions from students .In the year 1886, Sertoli published his last manuscript which was a breakthrough which suggested the primary role of spermatozoa to reach and fertilize the egg. In 1878 , Sertoli published a statement that the branched cells, which he now called cellule fisse or fixed cells no longer, divided in the adult

Career Plan Essay Example | Topics and Well Written Essays - 750 words

Career Plan - Essay Example There is no better way to learn the ropes than being hands on. 2. Housekeeping Operations Manager, Compass Group – By the time I graduate from college, I would already have the needed 2-year job experience derived from Towne Park as a Guest Service Associated. By this time, I hope to also gain the trust and confidence of my seniors at Towne Park, enough for me to get their endorsement so that I can embark in a career that would allow me to practice my skills and knowledge. It will also help me enhance my management skills. This job should jumpstart a good and solid career and Tourism. Travel and Hospitality Management. B. HOSPITALITY CONCENTRATION I choose International Hospitality Operations Management as my field of concentration as this course would suit bests my personality and interests. I have always been a people-oriented person, interested in studying varied cultures in various settings. My interest in Travel and Tourism will take me to these countries and scenarios, t hereby enabling me not only to master my field of choice but also to practice it in such settings that are unique and with demands of their own. Nothing could be more challenging than adapting to the people, culture and market other than your own. Besides, the promise of being able to travel shall be an add on to the list of experiences that I anticipate to go through. C. INSIGHTS AND PLANS If there is anything that changed in my plans since I took this course, it would be that my desire to finish my course and embark on a career became more intense; much stronger than it was before. The drive to absorb all the concepts has increased, and I think I am more focused on the tasks and challenges ahead of me. There are now cleared visions of the future, with my better understanding of the opportunities unfolding even now as a student. At this point, I have also developed timelines for me to reach my goals after I finish this course. A timeline is very significant for me because that woul d be my gauge as to what my accomplishments already are and what are the needed steps for me to level up. My career goals have really remained the same, but the means to achieve them have significantly changed in such a way that I have become aware of the channels for me to reach them. D. MY GOALS Short term goals: 1. Gain basic experience in hospitality management by enlisting in a part time job/ apprenticeship in a local company. This would add substance to my resume by the time I graduate from college. 2. Enhance my management skills by enrolling in related short term training/ elective courses. This will also help me become an effective manager in the future. 3. Further enhance my communication skills by joining organizations and groups that would allow me to interact with other students, to help me verbalize my thoughts and communicate them effectively. I need to enhance my writing and speech communications skills and the best way to do this is to be with people who have same a spirations. Long Term Goals 1. Get a Masters Degree in Hospitality Management five to seven years from now. A Masters Degree from a good school would ensure me good job prospects and even better opportunities to get job promotions. It would serve as my stepping stone towards a higher career in hospitality management. Furthermore, the training that a Masters Degree offers, will allow me to keep abreast of emerging

What Is Home Depot Commerce Essay

What Is Home Depot Commerce Essay Home Depot is the largest home center chain operating in 2,244 stores throughout the U.S., Mexico, Canada, and  China. Home Depot is considered to be the largest retailer of home improved goods, construction  products and services in the world. It  was founded by Bernie Marcus and Arthur Blank in Atlanta in 1979. The Home Depots proposition was to build home-improvement  warehouses, larger than any of their competitors facilities. The store inventory consists of about 40,000 different kinds of building materials, home improvement supplies, appliances and lawn and garden products for the needs of various projects. The Home Depot stores are always equipped with goods that are confined to a small area to match that areas specific market needs. www.homedepot.com is ranked on position 418 within .com and has 5,399 back links. The Site was launched at Tuesday, 04 August 1992. ORGANIZATION STRUCTURE BUSINESS MODEL Homedepot.com follows the B2C i.e. Business to consumer model. In B2C transactions, online transactions are made between businesses and individual consumers. B2C E-Commerce involves electronic retailing or e-tailing. At homedepot.com customers can browse catalogs when they want, place an order and the product of service will be delivered directly to them.  It is an online version of the store where customers can shop any hour of day and night without leaving their home and office. The revenue model followed by homedepot.com is sales of goods. Within the e-tailer the type of model used by homedepot.com is Clicks and bricks. It is a business strategy or  business model  in  e-commerce  by which homedepot attempts to integrate both online and physical presences. This model makes it far easier for a homedepot.com to establish an online presence than it is for a start-up company to employ a successful pure dot.com strategy. By using this model homedepot developed certain advantages, such as: Leveraging their  core competency. Multiplying existing  supplier networks distribution channels. A lower cost of capital. THE MARKETPLACE The Home Depot has more than 1950 places across the United States, China, Canada and Mexico.  Home depot stores have an average area of about 105,000 square feet and around 23,000 square feet of area outside of greenery. Inventory consists of different kinds of building materials, home improvement supplies, appliances and lawn and garden products for all of your project needs. The Home Depots retail stores offer skilled customers, like person who can repair and remodel particular services. Through committed service provider desks in more than 1,900 stores, skilled customers have right to use the loyalty programs, a pro bid room to handle large customer orders with volume discounts, directship programs, credit programs and other specialty sales initiatives. Home Depot operates under four different business segments: MARKET STRATEGY The strategic factors that helped in the growth and popularity of home depot are related to quality of product, its price, advertising for the products, store capacity, competitors, and customers independency and happiness. Good quality products are offered by Home Depot like garden supplies, lawn installation services home improvement products, for these products are offered too. Home Depot introduced a trial product store format that presented approx. 32,000 more square feet of selling area, due to which the selection of products and services broadened, also it provided with a more appropriate layout than the long-established stores. Collection of complementary product categories via stores that were designed based on a design centre, which facilitated Home Depot in storing more than 40k products in a year. New stores were brought closer to existing ones by Home Depot via a clustering strategy. An advantage was created by following this strategy via increasing the blockage of entry to competitors reducing rush in the current stores. This strategy also permitted the organisation to enlarge its advertising distribution expenses along a greater store area. Customer Cultivation is regarded as one of the prime strategies implemented by Home Depot. It is the consequence of the prerequisite of elevated qualified and in-store clinics, supportive, professional clinics and employees. An additional approach is centering on widespread announcement. Two years ago, Home Depot spent 895 million dollars on advertisements which accounts for 9.5 % more than its 2007 spending of 817 million dollars. Widespread advertisements provided Home Depot with a personal potential not in favor of remaining companies in the same industry. CUSTOMER VALUE PROPOSITION Customer value proposition  consists of the sum total of benefits which the firm   promises a  customer  will receive in return for the customers associated payment. Customer value proposition is specifically targeted to attract new potential customers instead of employees, partners or supplies.  It is a statement that is designed to convince customers that one particular product or service will add more value or better solve a problem than others in its competitive set. home depot provides a broad selection of quality products and services. Home Depot has the widest range of products, which are rated below rival market. They hire trades professionals so that the customer gets expert advice. Because of the technical support and better customer service the store has shown results which are unmatched in the business. As it is said, it is the good incident that brings the customer once more and its the word of mouth that brings other new customers, hence, customer satisfaction is one of the most important policy followed by company. Home depot selects very customer friendly oriented people. To improve the customer experience following steps is taken up by the company: Stores are getting modernize so that the perception of home depot is improved before the customer. In order to improve the customer service, a 24 hour hotline is being introduced. In order to improve customer service at Home Depot stores a new employee incentive program has been developed. REVENUE MODEL Estimated 20,068,000 visits over last 30 days. This Google Page Rank 7/10 website has a Traffic Estimate rank of 288.   homedepot.com is worth  $3,759,165. This makes homedepot.com the  93  most valuable site on Stimator.com. Home Depots first quarter  in 2010 is $725 million, up from $514 million a year earlier. Net sales  for the period  increased 4.3%  to $16.9 billion. Similar store sales increased 4.8%  company-wide for the period. COMPETITORS In the home improvement industry the main competitor of home depot  is  Lowes Companies (LOW). Home Depot leads in terms of sales revenue which is $66.2 billion and that of Lowes is $47.2 billion. Other competitors of home depot are Home Improvement Stores, Sears, Menard Inc., True Value Company.   Home Depot also faces competition from smaller independent stores. Builders First Source (BLDR), a company that manufactures structural and related building products for new construction. The advantage which Home Depot has against the smaller competitors is that in case of an economic downfall, it will be prevailing and thus taking back the old customers which were attracted to these small competitors earlier. C:UserscompaqDesktopmenard.jpg C:UserscompaqDesktoplowes.jpg COMPARITIVE ADVANTAGE Home Depot is financially better placed than Sears and Lowes. Home Depot maintains its strong price positioning and improves customer service and product quality.  Ã‚  Ã‚  Because of this reason home depot enjoys a competitive edge over Sears and lowes. The second competitive advantage for home depot is Menards products are perceived to be lower in quality than those of Home Depot even when the price for both are similar.  Ã‚  For the Quality of the products that it carries, Menards should not want to increase the price of its products. Another property that gives homedepot the competitive edge is differentiation. Home Depot has product differentiation as well as image differentiation. This provides a competitive edge over both Lowes and Sears. The Home Depot has essentially identified its two main market segments: The do-it-yourself (DIY) home improvement consumer and The professional business customer. CONCLUSION We have seen that how a b2c site (homedepot.com) operates. What is the business model behind the operation of home depot? It has helped customer to do shopping for the desired product by sitting at home/office and making payment on delivery by credit/debit card. The home depot is the market leader in the segment of home improvement retailing, much ahead of its competitors. The main reason of its competitive advantage is good quality, lowest prices and customer satisfaction. APPENDIX TABLE 1 DIRECT COMPETITOR COMPARISON homedepot Low PVT1 PVT2 Industry Market Cap: 47.47B 30.17B N/A N/A 30.17B Employees: 193,370 166,000 40,3001 3,0002 166.00K Quarterly Rev Growth 4.30% 4.70% N/A N/A 2.90% Revenue 66.86B 47.78B 7.90B1 2.01B2 47.78B Gross Margin 33.75% 34.80% N/A N/A 34.80% EBITDA 6.73B 4.98B N/A N/A 4.98B Operating Margin 7.38% 6.81% N/A N/A 7.47% Net Income 2.83B 1.78B N/A 64.20M2 N/A LOW  = Lowes Companies Inc. Pvt1  =  Menard, Inc.  (privately held) Pvt2  =  True Value Company  (privately held) Industry  = Home Improvement Stores 1  =  As of 2009  Ã‚  2  =  As of 2008  Ã‚   TABLE 2: Comparison of Major Warehouse Format Home Centers Store Attributes Attribute/Company HomeDepot HechingerHQ Builders SquareHomebase Store Count 174 30 144 73 Square Feet/Unit(000) 94 86 84 113 Sales/Square Foot $348.00 $224.00 $171.80 $169.90 FIG1 DAILY TRAFFIC TREND FOR homedepot.com FIG2 UNIQUE VISITORS FOR homedepot.com

Female Genital Mutilation :: Female Circumcision

Female circumcision, better known as Female Genital Mutilation, is an ugly monster finally rearing its head from out of the depths of time. It can attack a girl at any age, with a little prompting from her society, and the aid of an unsuspecting human wielding the knife. Usually, it is performed from a few days after birth to puberty, but in some regions, the torture can be put off until just before marriage or the seventh month of pregnancy (Samad, 52). Women that have gone beyond the primary level of education are much less likely to fall victim to the tradition ("Men's...", 34). The average victim is illiterate and living in a poverty-stricken community where people face hunger, bad health, over-working, and unclean water ("Female...", 1714). This, however, is not always the case. As one can see in the following story of Soraya Mire, social classes create no real barriers. Soraya Mire, a 13-year-old from Mogadishu, Somolia, never knew what would happen to her the day her mother called her out of her room to go buy her some gifts. When asked why, her mother replied, "I just want to show you how much I love you." As Soraya got into the car, she wondered where the armed guards were. Being the daughter of a Somolian general, she was always escorted by guards. Despite her mother's promise of gifts, they did not stop at a store, but at a doctor's home. "This is your special day," Soraya's mother said. "Now you are to become a woman, an important woman." She was ushered into the house and strapped down to an operating table. A local anesthetic was given but it barely blunted the pain as the doctor performed the circumcision. Soraya was sent home an hour later. Soraya broke from her culture's confining bonds at the age of 18 by running away from an abusive arranged marriage. In Switzerland, she was put in a hospital emergency room with severe menstrual cramps because of the operation. Seven months later, the doctor performed reconstructive surgery on her. Now in the U.S., Soraya is a leading spokeswoman against FGM (Bell, 58). In addition to being active in the fight against FGM, she is a American filmmaker. She has come a long way. Being well-educated about the facts of FGM also brings to light the ugly truth. "It is happening on American soil," insists Soraya. Mutilations are occurring every day among innigrants and refugees in the U.S. (Brownlee, 57). Immigrants have also brought the horrifying practice to Europe, Australia, and Canada (McCarthy, 14). Normally, it is practiced in North and Central Africa ("Men's.

A Case Study Of Agriquip Agencies Essay

1.0 INTRODUCTION The report reviews my three months work of attachment at Agriquip Agencies (EA) Ltd which is part of compulsory course work prior to the compliment of a diploma in business management. The report is an overview of experience gained, activities carried out at Agriquip Agencies (EA) Ltd, challenges faced during my attachment period and how I overcame them. In My attachment I was rotated in all the departments of the organization. 1.1 AGRIQUIP AGENCIES (EA) LTD See more: The stages of consumer buying decision process essay Agriquip Agencies (EA) Ltd is an organization specialized in Importation, distribution, Wholesale and retailing of a wide variety of Agricultural and industrial machineries and their accessories. The company was established in 1968 and it is based in Nairobi Industrial area along Lusaka road. It has branches in major towns, in Kisumu city, Mombasa city and Eldoret town. It has a number of appointed distribution agents in other towns in order to assist in distribution of their products. The organization draws its major customers in the Sugar factories by providing them with industrial spare parts, in agricultural sector it supplies the tea firms and plantations with various machines and their accessories for ease of their farm work. In industrial sector the firm provides the manufacturing companies with spare parts for their machinery to ensure the production does not halt due to lack of spares. The firm also targets the automobile industry by ensuring that they have spares in hardy i n order to continue with their business without interruptions due to lack of spare parts. The firm obtains its products from different parts of the world and ensures they maintain good relationship with their suppliers and maintains the necessary stock levels in order to cope and satisfy the demands of their customers. 1.1.1 Vision of the Organization To be the leading firm to transform Africa into a prime trade and investment destination 1.1.2 Mission Statement To turn Africa risk into opportunity by providing high quality, cost effective Agricultural & industrial equipments. 1.1.3 Core values Strive to carry out their business with customer focus approach combined with integrity, creativity, unity of purpose and an attitude of getting it right the first time. 1.1.4 Corporate Objectives – To consistently focus on our customer needs and provide them with products of the highest quality and standards that ensure they enjoy value for their money. – To transform Africa into a prime trade and investment destination by ensuring steady supply of quality products to our business partners in other sectors To ensure safety of environment and users of our products by providing products which are environmental friendly To invest in research and development in order to design products which are cost effective and satisfy the emerging needs of our customers 1.1.5 SWOT Analysis An analysis of the strengths, weaknesses, opportunities and threats (SWOT) was carried out to identify the firm’s internal strengths and weaknesses (internal analysis) in relation to external opportunities and threats (external analysis). This was undertaken with a view to identify and take action to leverage the strengths and opportunities and transform the weaknesses into strengths and threats to be turned into opportunities. This goes a long way in enabling the organization to achieve its objectives 1.1.6 STRENGTHS The main strengths of Agriquip includes the following;- i.Committed and experienced staff. The staff members are committed and have good skills and experience in their respective units. ii.Proper communication channels: the communication channels are well defined and the management created room for creativity and innovation as well as expressing their opinions freely without fear or intimidation. 1.1.6 WEAKNESSES The firm was noted to have a number of weaknesses which includes:- Little room for growth- The firm does not have well structured policies which provides for promotion and staff growth path. Lacks clear recruitment policies Unequal distribution of work Do not have proper allocation of resources. 1.1.7 OPPORTUNITIES Technological Development – These are opportunities which the firm can exploit to reduce cost of its operations Research and development – The firm can invest in R&D in order to understand the needs of their customers in order to come up with products that are capable of satisfying their customers and remain competitive. 1.1.8 THREATS Competition – Due to the technological change the firm is faced with competition from other suppliers Counterfeit goods flocking the market – The firm should invest in campaign against use of counterfeit products. 1.2 DURATION OF ATTACHMENT I was attached at Agriquip Agencies (EA) Ltd for eight weeks from 17th December 2013 to 8th February 2014. During this period I was rotated in all the departments of the firm starting with administration, purchasing, imports, accounts, sales and stores. I was taken through the various operations of the above departments and was able to practice what I learned in class. The attachment was very interesting as I had an opportunity to practice and utilize my technical skills and equipped me with understanding of the various management functions. 1.3 DEPARTMENT ATTACHED 1.3.1 ADMINISTRATION DEPARTMENT I was attached in this department for one week from 17.12.2013 to 21.12.2013, working for 5 days from Tuesday to Saturday. This department deals with the following activities; -Receiving recording and distributing mail to the  relevant departments for action. -Maintaining staff attendance records -Assigning duties to office assistants, clerks and delivery staff -Allocating resources for use by all the units within the organizations -Issuing local purchase orders for office stationeries -Maintaining fuel consumption records for all the company vehicles -Attending to customer queries and directing them -Filing and maintaining safe custody of the company files -Recording out going mails and dispatching them -Processing leave application forms for the staff members 1.3.2 IMPORTS DEPARTMENT I worked in this department for two weeks starting from 23.12.2013 to 04.01.2014. I was working from Monday to Saturday except during the holidays i.e. 25th, 26th December 2013 and 01st January 2014. The duration that I was attached in this department I was assigned to do the following jobs -Application for import license (IDF) -Filing of all the importation documents -Opening the costing sheets files -Application of marine cover notes -Receiving the shipping documents from the overseas suppliers and coordinating clearance with the clearing agents -Processing customs bonds with KRA -Computation of import duties and customs taxes -Arranging for payments for customs taxes and other levies 1.3.3 PURCHASING DEPARTMENT I was attached in this department for duration of one week from 06.01.2014 to 11.01.2014, working for six days from Monday to Saturday. During this period my duties were:- -Receiving and recording requisition from the stores -Filing requisition and other purchasing documents -Updating order records -Preparing and sending enquiries to the overseas suppliers -Sending purchase orders to the suppliers -Recording purchase orders in the order book -Receiving quotations from the potential suppliers -Follow up with the suppliers to expedite our supplies 1.3.4 STORES – I worked in this department for duration of one week during which I was tasked with the following responsibilities. -Issuing requisition for purchase to the purchasing department. -Receiving and verification of goods to ascertain they are in conformance with our order confirmation. -Issuing goods received notes -Filing of documents -Supervising stock taking -Binning of the incoming stock in their respective bins -Retrieving stock from the bins to be sold -Updating the stock issuance forms -Raising stock adjustment slips 1.3.5 SALES – I was attached in this department for two weeks from 20.10.2014 to 01.10.2014, working for 6 days per week. During this period my duties were:- -Taking orders from customers and raising sales invoices -Recording daily sales in the sales day book -Assisting the purchasing department to raise enquiries to the suppliers -Keeping track of daily sales documents and ensuring they are properly distributed to the various department for appropriate actions -Assigning enquiries received to the counter salesmen to action -Issuing ETR receipts for the sales made -Receiving customers complaints on the company products and directing them to the responsible persons for appropriate action5 1.3.6 ACCOUNTS – I was in this department for one week from 03.02.2014 to 08.02.2014. My assignments were:- -Receiving sales documents for the previous day and checking the calculations -Entering sales in the sales day book -Entering purchases in the purchase day book -Writing receipts for the payments received from the debtors -Writing cash book and petty cash books -Preparing remittance advice notes -Preparing PAYE, VAT returns online -Preparing bank reconciliations -Preparing debtors analysis schedules SECTION TWO 2.0 ATTACHMENT EXPERIENCES 2.1 GENERAL ACTIVITIES UNDERTAKEN. The general activities undertaken on daily basis were to ensure that all the documents to be used for the day are available as required, depending on the department attached. 2.1.1 Filing of various documents – Filing was also classified as an important general activity undertaken in the Organization. I sorted and classified the various documents depending on the required classification methods adopted by the different departments within the organization and putting them in their respective files. 2.1.2 Classification and handling information in the office set up. I classified and handled office information in a confidential and secret manner as files were not to be exposed or left unattended as they contain confidential information which should not be disclosed to everyone. 2.1.3 Planning of daily activities – As a general rule and practice of the organization, every employee was expected to prepare a daily work plan for the activities that he was expected to perform in the course of the day. I had to start my days with a plan which entailed arranging my work in the order of priorities as directed by my supervisor 2.1.3 General office administration – I ensured that the duties allocated to me by my manager were promptly executed and maintained conducive environment for daily operations. 2.1.4 Customer Relationship Management – I ensured customer’s requests were promptly handled and the responsible managers were informed of the enquiries through the daily reports. I responded to the enquiries through emails, telephone calls and any other appropriate channels of communication. I also directed the enquiries to the right person for assistance. 7 2.1.5 Office tidiness – After the office had been cleaned, I ensured that my desk was neatly arranged to facilitate smooth flow of work 2.2 SPECIFIC ACTIVITIES UNDERTAKEN I undertook the following activities in the various departments attached 2.2.1 Records management – this involved receiving incoming documents, recording, classifying, arranging, opening respective files, updating of records, capturing data relevant to the various departments, storing and retrieving files , locking the documents in the cabinets and restricting unauthorized persons from accessing any records under my custody. I performed this work in all the departments attached. 2.2.2 Filing of tax returns – in the accounts department I was tasked with preparing VAT returns, PAYE returns, advance tax returns, Withholding tax returns, NSSF returns, NHIF tax returns 2.2.3 Computation of Customs taxes – In the imports department I performed the duties of preparing imports declaration forms using KRA Orbus system, lodging customs entries using TRADEX- SIMBA system and arranging payments for the taxes through the bank. 2.2.4 Processing Customs Clearance documents â₠¬â€œ I was also tasked with processing clearance documents and clearing the import consignments at JKIA. Preparing marine cover notes and ensured all our imports are duly are insured against damages, pilferage or loss in transit. Updating the imports register and ensured that all the imported is up to date 2.2.5 Customer relations – I was tasked with receiving customers’ complaints on the company products and directing them to the responsible persons for appropriate action. I took note of the issues raised and forwarded them to the relevant heads of department and made a follow up to ensure the necessary action has been taken and feedback has been communicated concerned person. I also ensured there was a working co-ordination between the various departments within the organization and the right information was communicated to right person on time. 2.2.6 Stock management – I assisted the stores department to improve on their stock management procedures. This was through improvement of their systems of stock recording, issuance and documentations. Other tasks included – Issuance of purchase for requisition forms to the purchasing department, issuing goods received notes, supervising stock taking, binning of the incoming stock in their respective bins, retrieving stock from the bins to be sold, Updating the stock issuance forms Raising stock adjustment slips among others Receiving and verification of goods to ascertain they are in conformance with our order confirmation. 2.2.7 Administrative Duties – I was assigned to perform administrative duties which includes. Maintaining staff attendance records, Assigning duties to office assistants, clerks and delivery staff, Allocating resources for use by all the units within the organizations, Issuing local purchase orders for office stationeries, Maintaining fuel consumption records for all the company vehicles Filing and maintaining safe custody of the company files, Processing leave application forms for the staff members as well as tracing of different types of files and taking them to the required departments. 2.2.8 Purchasing functions – This involves the tasks of receiving and recording requisition from the stores, Preparing and sending enquiries to the overseas supplier, Sending purchase orders to the suppliers, Recording purchase orders in the order book, Receiving quotations from the potential supplier, Follow up with the suppliers to expedite our supplies, Issuing requisition for pur chase to the purchasing department. Receiving and verification of goods to ascertain they are in conformance with our order confirmation. Assisting the purchasing department to raise enquiries to the suppliers 2.2.9 Sales of Company Products – This involves taking orders from customers and raising sales invoices, Raising cash sales in case of cash transactions, Recording daily sales in the sales day book, Keeping track of daily sales documents and ensuring they are properly distributed to the various department for appropriate actions, Assigning enquiries received to the counter salesmen to action, Issuing ETR receipts for the sales made 2.3 AN ANALYSIS OF LEARNT KNOWLEDGE AND APPLIED SKILLS 2.3.1 COMMUNICATION The communication channel in the AGRIQUIP AGENCIES (EA) LTD is vertical. Communication channeled from top management down to the middle level and subsequent to the lower level. Junior officers give feedback through the same channel until the information reaches the senior management for action. I learnt that for smooth and efficient operation in any organization there must be an effective communication system which facilitates the flow of information. 2.3.2 TO EMBRACE TEAM WORK – I learnt that it is crucial to have good co-operation between the workers which enables department  activities to be coordinated smoothly and efficiently. Any organization must encourage Team work and coordination within all its departments in order to achieve the overall objectives of the business. I learnt to build team work and to cooperate with both the internal and external customers of the organization. 2.3.3 SOCIAL RELATIONS The staff members are friendly and this in turn creates unity. The senior officers are free and social with the junior staffs thus making them feel recognized, this enable me to adapt to the environment very quickly. I learnt that through creation of social relation there is room to learn and perform work easily as this encourages breaks barriers and leads to efficient communication and accomplishment of tasks. 2.3.4 RECOGNITION/RESPECT Respect is highly observed, Staff members respect each other, their seniors and also the public in general. Staff members who perform their duties well are motivated verbally, through recommendation letters, incentives and sometimes promotion. Staffs are also encouraged to upgrade their education. I learnt that when workers feel appreciated they are able to perform their work with minimum supervision and willingly. 2.3.5 EMPLOYEE FOCUS I learnt that when organization recognizes the contribution of their employees, they see them as important assets and to be invested in and not a cost to be avoided. Employees with personal needs are to be assisted which boosts their morale and increase their out-put. The organization has set clear and explicit standards of service that clients (employees) reasonably expect. They always uphold transparency and accountability in service delivery. They always take corrective action on errors and deficiencies that occur I learned the way the organization should undertake the core mandate. This was by working closely with various departments during my attachment. And i also found out that practical part of management is very interesting. I was allowed to learn the way an organization is supposed to function and  what is expected of every employee with regard to terms and condition of service. I was trained on how to develop work/duty schedules which enhances performing tasks efficientl y; achieving results and solving problems effectively through consultation of other working mates. 10 During my attachment period I ensured that decisions which I made were in line with the organizations policy and in consultation with my superiors. I applied the knowledge learnt in class in addressing issues like complaints from employees and managed the situations effectively. Through interpersonal skills that I acquired both in training and during the attachment period I was able to interact well with the employees of the organization. I also acquired knowledge on how to communicate with senior management staff and how to address the general population with respect and decorum where one subordinate is entitled to one superior type of management. 2.4 A PROFILE OF SKILLS AND COMPETENCIES GAINED/ACQUIRED – These eight weeks of my internship at Agriquip Agencies (EA) Ltd enabled me to gain skills, competence and experience in various managerial functions. I interacted with many suppliers both local and international suppliers, Consumers of our products, Government Agencies and other clients who required to be attended to. This equipped me with communication skills, negotiation skills and more importantly managerial skills in all sections within the organization as I rotated in all the departments. 2.4.1 COMMUNICATION SKILLS ACQUIRED I acquired communication skills using various communication channels, I learnt how to write official letters, send and receive emails, communicate well with the managers, others employees and the clients who came to seek for our services. I also learned how to communicate with different kinds of people like the clients of the organizations, customers and management staff using the appropriate approaches. I learned how to communicate through memoranda and ensuring that it is addressed specifically to the right group having simple language to be easily understood generally. 2.4.2 SOCIAL SKILLS ACQUIRED.I learned how to interact well with the employees of the organization. This was beneficial because i was able to work with them well due to the social skills applied. I also worked hand in hand with the management team and was also able to interact well with the other trainees. 2.4.3 MULTI-TASKING Exposure to working in different departments and handling clients with different needs enabled me to gain experience in multi-tasking and therefore was equipped with capability of handling different tasks performed in different departments effectively 2.4.4 CONFIDENTIALITY AND BUSINESS ETHICS – I gained skills of desertion and business ethics which is vital because most of managerial functions must be kept confidential and I was trained on the need to observe ethics and never to divulge information to any unauthorized person and to keep confidential information about any function in the organization at all times. 2.4.5 ORGANIZING I also learned that managerial role requires high level of organization of the resources, functions and time. Through the attachment I was able to gain this skills as the organization has a very strong focus on how the employees organizes their daily activities and utilizes resources allocated to them. 2.4.6 CORDINATION During my internship, I gained skills on how the employees should coordinate in order to accomplish their assigned tasks. I also learnt that all the functions within the organization in order to achieve the mission and overall objective of the organization. 2.4.7 MANAGEMENT OF RECORDS I learnt the skills on how to properly manage company records during my attachment in all the departments of the organization. How to store files safely and protect them against access by unauthorized persons, arrange the properly in the cabinets Employees are handled in a professional manner embracing dignity and respect. 2.4.8 WORK SKILLS ACQUIRED I learned to prioritize work by organizing my working time table. This enabled me to apply management by objective principal. 2.5 OBSERVATIONS AND CRITIQUE For the duration that I have been attached at Agriquip Agencies (EA) Ltd I was able to make several observations for which I liked some and other I did not like 2.5.1 OBSERVATIONS Open communication The organization has adopted an open communication policy.  During my attachment, I observed that the management encouraged open communication between the managers and their juniors as well as the trainees. This created room for the trainees and junior staff members to express their ideas freely without fear hence created room for creativity and innovation. Good relationship between employer and employee – The firm maintains a good employer /employee relationship. All the employees of the organization are given fair treatment irrespective of the positions they hold. The managers were willing to interpret the policies and guide their juniors and trainees in the implementation of the strategies set to achieve the desired results. Management commitment to motivate employees – The management had a commitment for motivating their staff members. I observed that all the workers in the organization were very committed to their work and needed minimum supervision. The level of motivation was high and therefore created room for innovation, trust and cohesiveness which leads to efficiency and effectiveness of the organization. Embraced change – On the other hand I observed that both management and employees were very accommodative to change this was due to high level of trust and open communication the management was able to communicate to their employees of any planned change before implementing which translated to less resistance. Employee willingness to teach the new trainees – as a result of high commitment by the employees to their tasks and trust between the employees and the employer, the interns were not viewed as threat to the already existing employees and therefore they were willing to train and 13 guide them in their internship. The work I was assigned truly allowed creativity and innovation in that I was expected to come up with new ideas and ways of effectively managing the resources of the organization in order to meet the targets and increase the efficiency of the organization. I liked the way the organization cared for the social needs of their employees. 2.5.2 CRITIQUES/DISLIKES ABOUT THE ORGANIZATION Some departments operations are not computerized and therefore it takes long time to acquire information that is necessary for quality decision making. The organization lacks proper progression path which discourages the employees from furthering their training since there is no rewards expected  after undergoing the training. The other deficient area that I found wanting is that of recruitment and employment. The organization does not have employment policies and therefore their employees does not fully understand the criteria used. I observed that organizations do not give much emphasis on the course a student is taking, but they prefer students who have basic education and they proceed to nurture them based on their judgment on how one is performing. There is delay in replenishing some products/stocks which have high demands which causes the organization to lose their customers to their competitors. Some suppliers take too long to supply the products. Lack of co-ordination betwe en the purchasing, imports and stores departments hinders the organization from achieving their objectives. The organization has not fully embraced new technological advancement in several departments. This in itself is a setback as technology is known to improving efficiency and less paper work. As an organization that imports products from many parts of the world, I found that their ICT systems are wanting. The organization has not invested in research and development which is a powerful tool for enhancing their productivity and competitiveness. 2.6 STRATEGY FOR UTILIZING OF CONTACTS ESTABLISHED DURING ATTACHMENT During my attachment period at Agriquip Agencies (EA) Ltd I established good contacts, and still keep in touch with them and any time I require information pertaining to particular field am assured that I will have someone whom I can consult. I intend to seek employment opportunities for myself and also my fellow students. In today’s market economy job is only allocated and accessed by those who are networked well or known well. These contacts will also be of great help in securing employment opportunities in future in the field of management. I will also use the established contacts as referees to recommend me in getting employment in the future. SECTION THREE 3.1 SUMMARY The industrial attachment was conducted at Agriquip agencies (EA) LTD from 17th December, 2013 to 08th February, 2014. During the attachment I rotated  in all the departments within the organization i.e. Administration, imports, purchasing, sale and stores departments as an imports clerk/ supervisor. I learnt various functions of all the above departments and equipped me with knowledge and skills on how to effectively perform duties of these functions. The theoretical knowledge I learnt in class helped me to have a better understand on how to carry out the relevant functions. Some specific activities undertaken needs to be taken seriously by any person assigned to perform them because they can heavily impact on the performance of the organization. These functions includes, Purchasing of products, these should be done by competent personnel who have thorough knowledge of procurement procedures as well as good negotiation skills. Sales, This function should be done carefully as the p ersonnel assigned should have good marketing skills and able to do proper marketing mix in order to satisfy the needs of the Customers failure to which the organization can be affected negatively by becoming the target for competition. Imports, the personnel allocated this function must be having good analysis skill, should have capabilities to analyze the external environment in order to determine the economic situation , understand the inflation rates, rates of exchange as well as effects of the economies of scale. Accounts, The personnel allocated to this department should be able to produce reports in time and accurately to enable the management to determine the profitability position as well as decide on the course for action. 3.2 CONCLUSION I sincerely wish to appreciate the management of Agriquip Agencies(EA) LTD for the opportunity they gave to me to pursue my industrial attachment in their organization and also for assistance they accorded to me and being always ready to let me learn from them . The experience gained in the course of my attachment is very important in securing me an opportunity in the job market. I highly encourage the idea of industrial attachment and recommend that the students be supported and given maximum guidance to ensure that they are able to exercise their practical skills that are fundamental in building their career. My eight weeks in Agriquip Agencies (EA) LTD have had a great impact to my career development. I thank the management of The  Kenya Institute of Management for creating an opportunity for their students to undergo an industrial attachment that enables them to acquire practical skills in their field of training. The attachment has also enabled me as a management trainee to id entify the areas of weaknesses within the organization and recommended to the management on the best course of actions to improve on their performance. 3.3 RECOMMENDATIONS Agriquip Agencies (EA) Ltd should improve its technological infrastructure by providing more computerized systems enabled with internet to the various departments to facilitate e-commerce. Departments whose operations are not computerized to be computerized in order to improve on the service delivery and enhance their satisfaction to their customers. To find alternative suppliers for their products in order to ensure products are always available for their customers. Since some of the current suppliers take long periods to supply the ordered products they should seek alternative sources of supplies and create good relationships with suppliers to ensure steady supply of goods. Formulate employment policies. The organization to formulate employment policies that will govern their recruitment procedures, staff appraisal, reward systems, growth and development of the employees among others Investing on research and development. The organization should consider investing on research in order to be able to understand the market treads, the customer needs, the level of competition. The need to develop new products that are suitable for satisfaction of their customer desires. The management of the Kenya institute of management to explore ways of partnering with the private sector investors and the Government to ensure that their students are able to secure attachments opportunities and employment placements on completion of their training.

Lord of the Flies Book Report Essay

Lord of the Flies is a book by William Golding and was written during WWII. His choice to join the navy changed the way he viewed the world. A group of students were being evacuated from an airplane that is in a lonesome island. Once the group is settled in, they elect a boy of the name Ralph to be leader. A dispute is started on how their will be rules and who governs who. Problems have risen and the group is torn apart. Lord of the Flies theme is that being hungry for power is natural in humans and examples are given when the band chooses a leader, decision making of the boys, and uncivilized acts among themselves. The theme in Lord of The Flies is seen throughout the novel. For example, they voted on a leader to help have order and act in an organized manner. Jack was a nominee who ran against Ralph. JAck really wants to be the leader, but of course Ralph ends up being the popular vote. â€Å"We’ve got to have rules and obey them. After all, we’re not savages. We’re English, and the English are best at everything. ‘† (Golding 40). Golding states that the group must be organized, they are not animals. They know that without order, everything they are could collapse and be their downfall. Plus they call themselves the best at everything so they could have some faith of getting by. â€Å"They obeyed the summons of the conch, partly because Ralph blew it, and he was big enough to be a link with the adult world of authority†¦. † (Golding 50). Here it shows the Ralph had what it takes to be a leader, everyone listens and takes his orders without question. Towards the end of chapter four, a character by the name of Piggy wines about some rude hunters, Jack hits the poor character breaking the glasses they were wearing. In the story, being power hungry is a pretty common thing and many examples are portrayed such as the group being split, so there is not one main leader. These islanders act in such a way now that they have obtained power. There will be groups. Jack doesn’t like the idea of Ralph being a leader, but is satisfied with his numbers in his own group. â€Å"The world, that understandable and lawful world, was slipping away. † (Golding 82). It says that they everything they know about society is going downhill, they have started their own world. Everyone wanted power, no one liked the idea of being a follower. â€Å"‘Shut up,’ said Ralph absently. He lifted the conch. ‘Seems to me we ought to have a chief to decide things. ’† Which very blatantly shows how much Ralph thinks he has total authority over all the boys. â€Å"I ought to be chief,† said Jack with simple arrogance, â€Å"because I’m chapter chorister and head boy. I can sing C sharp. † (Golding 229-231). As of reading it is clear that Jack’s thirst for power was most utterly real and has been going on from the beginning of the book. He saw himself as the big-shot. Evidence is given that Jack might want to be the antagonist of this novel, Lord of the Flies. All Jack really wants is to show he is the true leader nothing much, yeah he wants order, but all in the wrong ways. Finally, is the uncivilized way the boys have acted among the groups that have done more damage than good. They all go through this face to behave well and have order with each other trying there best to ignore all the negative and chaos of a bad government. Biggest bust of the novel was when Piggy got demolished by a giant boulder that had flattened him. Who was to blame? Jack as everyone pointed fingers to him along with a so called Roger. Roger was a savage man, who knew that such evil could be brought out from a human being. â€Å"As he did so, he heard Jack’s voice from the top. ‘Heave! Heave! Heave! † (Golding 193). Jack was most likely behind this diabolical plan that murdered the poor innocent Piggy. The great rock that had killed Piggy had bounded into this thicket and bounced there, right in the center, making a smashed space a few feet in extent each way. †(Golding 192). It is obvious that these two men were the evil masterminds behind the death of Piggy. In the beginning of the book, the group came across a pig while hunting and without a doubt kill the poor creature. Jack’s true side came out, this was the part where he would become the bad guy in the story, stabbing the pig had been enough p roof to show he is a killer. In Lord of the Flies, a group who had been left on an island due to their plane coming on a crashing course evacuating their homes because of treacherous war, are now left to make there own decisions creating new order around them. While waiting for help to arrive, all sorts of issues are created with the main problem being leadership. Lord of the Flies theme is that being hungry for power is natural in humans and examples are given when the band chooses a leader, decision making of the boys, and uncivilized acts among themselves.

An honest Ghost Essay Example

An honest Ghost Essay Example An honest Ghost Paper An honest Ghost Paper Immediately after the Ghost has left the stage Hamlet is uncertain to whether it has come from either Heaven or Hell and, until he has other proof Claudiuss guilt, he remains ready to believe it is a damned ghost we have seen. The Ghost talks about returning to Purgatory and Hamlet at once insists that it is an honest Ghost. For him what carries most conviction is the Ghosts likeness to his father and the closeness of what it says to his own thoughts. Shakespeare ensures that we believe that the Ghost is not a figment of Hamlets imagination as both he and Laertes see the ghost and they are portrayed as intellects. In addition the two sentinels, Barnardo and Francisco have seen it. There is therefore a wealth of evidence to prove its existence and we are therefore more inclined to believe the validity of its arguments that the old Hamlet did not die naturally. After the ghost has gone Marcellus remarks something is rotten in the state of Denmark to them the ghost symbolizes that something is wrong in Denmark. This could also be a clue to the fact the Claudius could be corrupt. Hamlet believes several things about death and the afterlife, the main one seen in Hamlet being the fact that if you commit suicide you will not go to heaven as God gave you your life, and you have no right to take it away. This to the modern audience may seem strange because if God has given you life then it is surely your own to do with what you choose. Hamlet believes is that everybody would be committing suicide if they were not so afraid of death and the afterlife and the consequences to their soul for sinning against God. We will write a custom essay sample on An honest Ghost specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on An honest Ghost specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on An honest Ghost specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Hamlets own life seems worthless and meaningless to him as a result of the death of his father and his mothers behavior. Because of this, Hamlet contemplates suicide. People are afraid of what the afterlife may contain. They know that they will not go to Heaven if they commit suicide and fear that Hell would be worse to bear than the slings and arrows of outrageous fortune on earth. The theme of suicide also comes into the play in Act Five Scene One (the Gravedigger Scene) when the clowns discuss whether Ophelia drowned herself in her own defense. If you kill yourself you were not meant to have a Christian burial this is also brought up by one of the clowns when he cynically says if (Ophelia) had not been a gentlewomen, she should have been buried out o Christian burial We in the modern age find this peculiar but in the time the play was written this was the usual practice. The Jacobean audience believed that you have no right to commit suicide as God gave you life and therefore had no right to a Christian burial. The King would have used his influence regarding Ophelia so she would get a Christian burial, which points to the hypocrisy of the rich, and powerful who are able to buy themselves and their friends privileges. In the same scene Hamlet talks about Yorick the Kings jester and remembers how he was. Here hung those lips I have kisss I know not how oft. Where be your gibes now, your gambols, your 190 songs, your flashes of Merriment that were wont to se the table on a roar. Hamlet thinks that it is sad that Yorick has ended up as a bag of bones, yet acknowledges that he believes in the afterlife when he tells his spirit to go to Gertrudes chamber and tell her, let her paint an inch thick, to this favour she must come Death he is pointing at, makes everyone equal. Even his mother, the queen, will one day be reduced to a pile of bones. The modern audiences view of the afterlife is very split some people believe in it and some people do not. However the Shakespearean audience, like Hamlet would have believed in the afterlife and would have recognized the difference between the mortality of the body and the external life of the soul. When he has the opportunity to, Hamlet does not kill Claudius while he is praying because the church believed that if a person is praying, as he dies his soul is absolved and he will go to Heaven. Hamlet does not want Claudius to go to Heaven when his father who was poisoned and didnt have time to pray is committed to Purgatory. This is a double irony because Claudius can not pray effectively since, to absolve his soul of sin, he would have to give up his wife and his throne in order to show true penitence. However God is looking after him because Hamlet thinks that he is praying so therefore he does not kill him. While the Jacobean audience would understand this view point, the modern one could possibly interpret it as further procrastination by Hamlet and a symptom of his indecisiveness. Hamlet wants to be able to kill Claudius however 1something inside him will not allow him to. Hamlet has a sense of morality, which rises above vengeance. In the eyes of the modern audience it seems strange that even though the old Hamlet was probably a better person than Claudius, he should be committed to Purgatory simply because he did not have time to pray, whereas Claudius who having killed his brother and who is now having sexual relations with his brothers wife, can be let off by just praying before he dies.

Career Comparison Essays

Career Comparison Essays Career Comparison Essay Career Comparison Essay ENGL 227 Formal Report Instruction In this assignment, students will work independently to write a short formal report that analyzes a situation and provides recommendations. This course project will satisfy TCOs 4, 6 and 8. Overview In this assignment, students will analyze two possible career choices, and then write a formal analytical report effectively presenting a recommendation to pursue one of the careers. This project has two parts: * Part one, the Table of Contents and Introductory Section, is due at the end of week 6. Part two, the report in its entirety, is due at the end of week 8. * Students are encouraged to begin work on this project no later than week 5, reading the project directions, reading Chapters 13, 14, and 15, and, if time permits, doing preliminary research. Formal Report Topic This assignment is based on Case Number 4, Chapter 15 on pages 466-67: Reconciling the experts: Resolving the advice on writing business plans. Here’s th e situation: Read and follow the directions on pages 466-67 in chapter 15. Your report should include the following: * Information as noted and asked for in the case. Research from at least six credible sources to inform the your audience and to support the recommendation(s) * APA citations for all researched information (in-text parenthetical citations and a reference list at the end of the report) * Formal report formatting You will need to conduct outside research and cite your sources using APA citations. Conclude the formal report by making recommendations to your audience. Your report MUST be formatted as a formal report. Part One (Due Week 6) Table of Contents and Introduction Your assignment this week is to write your formal report’s table of contents and introduction, using formal formatting. To complete this assignment, you will need to have a good plan in place for your formal report. I encourage you to use the three-step process we’ve been studying this session. (The formal report is due in its entirety at the end of week 8. In week 6, only the table of contents and introduction are due. Formatting Help View this week’s tutorial, which will show you how to use the outline view of MS Word to create a table of contents. Using the outline view will make formatting your table of contents and report much simpler than formatting the entire TOC manually! Notice that there are slight differences between formal reports and formal proposals. When referring to chapters 13-16, make sure you refer to the passages that pertain to formal re ports. Formatting Help View this week’s tutorial, which will show you how to use the outline view of MS Word to create a table of contents. Using the outline view will make formatting your table of contents and report much simpler than formatting the entire TOC manually! Notice that there are slight differences between formal reports and formal proposals. When referring to chapters 13-16, make sure you refer to the passages that pertain to formal reports. In week 6, your assignment should include the following: * A table of contents using formal report formatting. Note that page numbers are not necessary this week, as you will not have written the actual report yet. Page numbers should be added next week, though, when you complete the report. ) * The table of contents should include first- and second-level headings, like the example on page 437 in chapter 15. * Include an introductory section featuring the following four parts (see page 439 in chapter 15 for an example. * Introduction * Purpose, Sco pe, and Limitations * Sources and Methods * Report Organization Identify at least six credible sources you will use in your proposal in the â€Å"Sources and Methods† section. * Use formal report formatting. * Be free of grammar, spelling, and punctuation errors. Part Two (Due Week 8) Formal Report in Full In week 6, you planned the formal report and wrote the TOC and introduction. In week 8, you will complete the formal report. (You may need to revise the TOC and Introduction, based on the feedback you receive from your instructor. ) In week 8, your assignment should contain the following: Be formatted as a formal report, following the guidelines formal reports in the text (including the guidelines for headings and subheadings found on pages 435-448); * Include appropriate prefatory, text, and supplemental parts (The formal report should contain appropriate prefatory, text, and supplemental parts, including the following: a cover and/or title page; a letter of transmittal; a table of contents; the four-part Introductory Section from week 6; appropriately labeled body sections; and appendices, such as the client interview and list of references. Your report does not need to contain all of these parts, but should contain most of them. ); * Fully answer the question posed in the case from the text, considering all of the background information provided and fulfilling the purpose outlined in the case. The word count for the intro, body, and conclusion should be 1250-1750 words); * Use at least six credible researched sources appropriately and effectively; * Include proper documentation using APA style (both in-text and end-of-text citationsplease check your work using turnitin. om); and * Be free of spelling, grammar, and punctuation errors. Note: Visual aids are entirely appropriate for this kind of report, but they are not required. If you decide to use visual aids, be certain to adhere to the standards we have studied previously in this course. How the Formal Report Assignment is Graded The Formal Report Assignment will be graded according to the criteria set forth in the Rubrics for weeks 6 and 7/8, located in Doc Sharing.

The Burgundian Wars Battle of Nancy

The Burgundian Wars Battle of Nancy In late 1476, despite earlier defeats at Grandson and Murten, Duke Charles the Bold of Burgundy moved to besiege the city of Nancy which had been taken by Duke Rene II of Lorraine earlier in the year. Fighting severe winter weather, the Burgundian army encircled the city and Charles hoped to win a swift victory as he knew Rene to be gathering a relief force. Despite the siege conditions, the garrison at Nancy remained active and sortied against the Burgundians. In one foray, they succeeded in capturing 900 of Charles men. Rene Approaches Outside the city walls, Charles situation was made more complicated by the fact that his army was not linguistically unified as it possessed Italian mercenaries, English archers, Dutchmen, Savoyards, as well as his own Burgundian troops. Acting with financial support from Louis XI of France, Rene succeeded in assembling 10,000-12,000 men from Lorraine and the Lower Union of the Rhine. To this force, he added an additional 10,000 Swiss mercenaries. Moving deliberately, Rene began his advance on Nancy in early January. Marching through the winter snows, they arrived south of the city on the morning of January 5, 1477. The Battle of Nancy Moving swiftly, Charles began deploying his smaller army to meet the threat. Making use of the terrain, he positioned his army across a valley with a small stream to its front. While his left was anchored on the River Meurthe, his right rested on an area of thick woods. Arranging his troops, Charles positioned his infantry and thirty field guns in the center with his cavalry on the flanks. Assessing the Burgundian position, Rene and his Swiss commanders decided against a frontal assault believing that it could not succeed. Instead, the decision was made to have the largely Swiss vanguard (Vorhut) move forward to attack Charles left, while the Center (Gewalthut) swung to the left through the forest to attack the enemy right. After a march that lasted around two hours, the Center was in position slightly behind Charles right. From this location, the Swiss alpenhorns sounded three times and Renes men charged down through the woods. As they slammed into Charles right, his cavalry succeeded in driving off their Swiss opposites, but his infantry was soon overwhelmed by superior numbers. As Charles desperately began shifting forces to realign and reinforce his right, his left was driven back by Renes vanguard. With his army collapsing, Charles and his staff frantically worked to rally their men but with no success. With the Burgundian army in mass retreat towards Nancy, Charles was swept along until his party was surrounded by a group of Swiss troops. Attempting to fight their way out, Charles was struck in the head by a Swiss halberdier and killed. Falling from his horse, his body was found three days later. With the Burgundians fleeing, Rene advanced to Nancy and lifted the siege. Aftermath While the casualties for the Battle of Nancy are not known, with Charles death the Burgundian Wars effectively came to an end. Charles Flemish lands were transferred to the Hapsburgs when Archduke Maximilian of Austria married Mary of Burgundy. The Duchy of Burgundy reverted to French control under Louis XI. The performance of the Swiss mercenaries during the campaign further bolstered their reputation as superb soldiers and led to their increased use across Europe.

Halloween (1978) Movie analysis Assignment Example | Topics and Well Written Essays - 1250 words

Halloween (1978) Movie analysis - Assignment Example l prove that the director deliberately depersonalized the antagonist to make him for frightening as well as designed mise in scene in a way that the viewer would know that something is missing and anticipate the danger. To begin with, one might note that when Laurie entered the room, she wanted to close the window. There was no particular reason to do so, other than some subconscious fear of Michael whom she recently saw. However, after she noticed that he was standing in her backyard, she immediately closed the window for a particular reason which is not to let him in. If one carefully analyzes the way she performed the action in question, one will be able to see that she was quite desperate and vulnerable. Indeed, a woman with her constitution can hardly oppose a man who is taller and stronger than her. Later in the movie she is shown fighting him and Laurie is able to overcome only due to some lucky hits that she makes. By far, the part when she noticed a strange figure in the backyard should be seen as a rather frightening one: the mask that he is wearing contributes to demonalization of the character. There are several explanations for it. On the one hand, when one looks at the backyard, one does not expect to see something extraordinary. That is why a presence of an unknown man in the very middle of it seems to be a real shock to her. Indeed, Michael is positioned on the front frame and occupies the majority of the space. In addition to that mask makes him look like the villain of the movie and becomes a symbol of taking away his humanity. That is why this particular image make Michael so frightening. One of the first impressions that the scene in the bedroom has on the viewer is the emptiness of the room. In spite of the fact that it looks as an ordinary room, mise en scene is organized in such a way that the audience understanding that something is clearly missing. Keeping in mind that Laurie saw Michael several times before walking into the house, it is

IT Outsourcing Paper Essay Example | Topics and Well Written Essays - 750 words

IT Outsourcing Paper - Essay Example â€Å"IT outsourcing has become a common means of corporate management in the financial as well as other sectors† (Suzuki, 2005, p. 23). Currently, IT is a lifeline for each company and determinedly united with each part of all company’s business, so it does not astonish that service like outsourcing has been extended to IT associated functions, such as development of software and preservation, function of information systems, and organization of networks and servers. The Project Drives or Creates More Revenue for the Corporation: Initially, organizations can anticipate higher-quality services by using skilled and experienced external specialists. It helps to increase more revenue by the way of reducing wages. As the technology development and diversification are incorporated with businesses, more superior abilities are demanded to obtain more sophisticated IT service needs. The primary cause for IT off shoring is reduction of cost. Organizations can discover opportunit y for radical reduction of cost by taking benefit of the wage differences among countries. The Project Cuts the Cost of Doing Business: Secondly, IT service suppliers have benefits in cost effectiveness based on their scalability. Large suppliers can recommend the same kind of services to numerous client organizations in the course of their pool of work and infrastructure. This type of resource sharing creates a considerable donation to the reduction of cost in comparison to circumstances whereby every organization carries out the services by itself. IT outsourcing can cut the cost of operation by way of cutting the cost of premises and other expenses. The Project is Mandated by Laws (Federal, State, County, or Local) or Executive Orders: Like any other project IT outsourcing project also mandated by federal, state, county, or local laws and executive orders. Subsequent to setting the scope of outsourcing, the organization desires to select the vendor with a deliberate assessment an d a comparative assessment of consistency, degree, technology, abilities and potential effects. Lastly, the organization should finish the agreement with the vendor; it is at this time when the task of explicit positions in addition to duties and concrete actions to be taken in opposition to the various types of contractual risks, which is the key to justifying the risks of outsourcing. The Competitor has undertaken a Similar Project: The present quick increase in offshore IT outsourcing has sparked a contest on the costs and advantages of this tendency to the U.S. financial system. If the competitor is using the same project, it will not be much effective for the organizations to perform extremely well. Outsourcing must not be viewed as an explanation in resolving dilemma service areas in the companies. If an inner service part is not performing successfully, by transferring it to an exterior contractor could only increase the problem. So, it is significant that companies that carr ying out outsourcing must be capable to clearly recognize its long term IT strategic guidelines and long term information requirements.   The course of recognizing solutions for a company can be complicated; mainly if the company is not certain about the steps to obtain to create success. To facilitate help in figuring out numerous problems in Global Communications at

Pathophysiology exams questions Assignment Example | Topics and Well Written Essays - 500 words

Pathophysiology exams questions - Assignment Example 2. Stenosis is an abnormal narrowing of the blood vessels. Stenosis is accompanied by unusual blood sounds resulting from the narrow blood vessels. Regurgitation or incompetence is a condition where the left atrium during systole becomes incompetent in functioning. Prolapsed is a condition where the valves of the heart fall out of place. This is caused by the displacement of the left valve during the systole because of the thickening of the mitral valve prolapsed. 3. Asbestosis is a general term given to heart disease resulting from a person inhaling too much dust. It is a chronic pneumoconiosis disease, which affects the parenchymal tissues of the lungs making the lungs to undergo slow and repetitive fibrosis. Straight, thin amphiboles asbestos fibers penetrate deeply into the lungs alveoli thereby interacting with blood, oxygen and carbon dioxide. The interaction of the amphiboles leads to the provocation of body’s immune system leading to rejection of defensive cells known as macrophages, which are responsible for destroying the fibers. Amphiboles also stimulate fibroblast cells of the lungs to lay continuously on the alveoli walls leading to thickening of the walls thus preventing or reducing the process of breathing which can lead to heart failure. 4. Clubbing results from people experiencing chronic low blood oxygen levels. The fingertips enlarge and nails appear extremely curved from front to back. The bulbous swelling gives the fingers a club shape. The normal angle of the finger changes from 160Â º to 180Â º due to this disease mostly associated with people with heart disease. Adults experience this disease because of liver disorders, gastrointestinal disorders pulmonary disorders and heart diseases. 5. Sleep apnea is a condition in which one pauses in breathing while asleep. Narcolepsy is a condition, which usually attacks people of ages 15-30 years, and it encompasses excessive sleepiness and regular daytime sleep attacks. Cataplexy

Consider a particular real organization of your choice which has an Essay - 1

Consider a particular real organization of your choice which has an international profile. Discuss how the organization is adopt - Essay Example The core intention of the company is to produce automobiles in accordance with the needs along with the requirements of the customers. Additionally, the company maintains a balance between its production services and other factors such as environment, drivability, safety and reliability [1] (Toyota Motor Corporation, 2013). In this respect, the company aims to offer vehicles of enhanced features, so that customers are availed with products beyond their expectations. The company, in order to retain its worldwide position and provide customers with quality products has developed an effective global network [2] (Toyota Motor Corporation, 2013). Supply chain management (SCM) and logistics play a decisive role for TMC in obtaining required materials from suppliers proficiently and providing finished products to customers in the market segments appropriately. In general, SCM is regarded as a process, which is involved in the movement along with the storage of materials from suppliers to cu stomers. ... In this regard, the company has developed ‘Toyota Production System’ (TPS) with the aim of ensuring that materials along with inventories are handled properly. Additionally, TPS ensures that manufacturing along with logistics operations of the company are managed and integrated with the suppliers along with the customers (Strategos, 2013; Ludwig, 2013). With this concern, this essay intends to discuss about how TMC is adopting the principles of environmental along with social sustainability particularly in its supply chain management and logistics operations by using certain relevant examples. Discussion Supply Chain Management (SCM) and Logistics In the present business scenario, market competition has augmented due to increased level of globalisation and advent of technologies. In this regard, business organisations are required to adopt effective strategies for the purpose of enhancing their respective operational efficiencies and meeting the needs of customers with o ffering innovative products and/or services to them in a timely manner. SCM is a process comprising different activities in accordance with which supply of raw materials and distributions of final products and/or services are based upon. It develops a linkage between the suppliers and the consumers, so that a business organisation is able to execute its business processes and operations in a cost-effective manner. SCM is a procedure of managing the logistic activities of an organisation in order to make its operation and distribution cycle more productive. Additionally, SCM and logistics operations are required to conduct their operations in a social responsible manner and must take into concern

Company Law Essay Example | Topics and Well Written Essays - 1500 words

Company Law - Essay Example gment passed also stated that that for the assumption of responsibility to be effective some form of direct or indirect conveyance is needed from the behalf of the director and also requires that the claimant should have relied on the information provided by the director. The judgment provided also included the fact that the company or the organization is a separate entity from the directors and the shareholders. Williams aimed at imposing the personal liability to the organization under the principle of Hedley Byrne. But that did not held true for the case. The principle states that it requires a special relation to exist between the plaintiff and the tortfeasor3 Mr. Mistlin claimed that he had no special dealings with the Williams and he never took the responsibility of Mr. Williams in behalf of the company. The judgment passed made it clear that the director of a company runs no risk of his personal liability by taking the charge of a private limited company unless and until he ha s expressed or taken any sort of personal liability. The judge of the case, Lord Steyn commented on his final verdict that there was no personal dealing with the Williams and the managing of the company and the exchange of ideas between them never crossed the line which could create a feeling among the Williams that he had taken the personal responsibility for them. It was held as a case of negligent representation by the company.4 Standard Chartered Vs Pakistan National Shipping Corporation Limited: The case involved three main organizations which are Standard Chartered, Oak Prime, and The Pakistan National Shipping Corporation. In the particular case Pakistan National shipping Corporation was the shipping agent of the delivery of Iranian Bitumen sold by Oakprime. Incombank issued a letter... This research have discussed the two cases and their judgment cited had some similarity and differences. In both the case, the convict accused was the part of the organization, and in both case both of them belonged to the managerial levels. The accused was held guilty on matters of misrepresentation of certain scenario. In the case of the Williams and the Natural life heath foods limited the Williams carried out their legal case as because they suffered loses based on the financial projections provided to them by the director, similarly in the case of the Pakistan National Shipping Corporation and the Standard Chartered bank, the director of the Oakprime was held as accused on behalf of the false representation of the bills. The judgment in the identical cases was completely different from each other. In the case of the Williams, the director of the concerned organization was let free and the case was represented as scenario of unintentional misrepresentation. The judgment stated th at the director cannot be held responsible for any personal loses of the franchisee based on the dealings between them until he had shown his personal liability for the matter and he has any personal relationship with the party. Whereas in the other case the judgment showed that the director or the management person concerned cannot hide his fault behind the liability of his company. Mr Mehra deliberately made the false statement so that he may attain the payment for the letter of credit. The law cited strictness in matters of fraud cases than in general matters concerned.

Managing Customers and Quality Essay Example | Topics and Well Written Essays - 2500 words

Managing Customers and Quality - Essay Example Services include scientific and specialty consulting as well as all aspects of engineering, construction, operations and maintenance. To maintain its success in existing markets and to enter new markets, JE needs to re-evaluate its current marketing mix. This report will discuss the current situation in this regard and redefine JE's objectives due to changes in clients' needs and expectations. To achieve this, the external and internal environment of the company is examined for potential influences that could lead to changes within the organization that will result in customer expectations being fulfilled. The services provided by JE and it's positioning in the present market is also looked at. The resulting strengths and weaknesses in addition to the opportunities and threats will be identified to ultimately provide strategies to compete globally and take advantage of existing opportunities. These objectives are SMART as per table 1. As a broad-based technical professional consulting firm, JE offer a complete range of services to help our clients maintain a competitive edge in their respective markets. From feasibility studies to operations and maintenance (O&M), we customize our services to meet clients' business and project goals. Our global network of technical experts work under a boundary less, seamless philosophy so that clients' receive the best, most economical project or program solution, worldwide. JE offer its services worldwide therefore more prone to be affected by external influences. It works in different social set-ups and so it needs to understand different culture and society. Technological innovations and its inclusion in services of JE play a very crucial role in providing best of services. Services provided by JE have to be economically prudent. Economic conditions of different countries in which JE operating as well as countries economic policies play a crucial role in JE success. Presently environmental factors are the major cause for concern in every country and almost for every project to be started. So JE policies and its commitment for health, safety and environment keep it in front of others. Finally the political situation and political decision-making plays an important role in almost every part of the world and it affects JE'S policies also. Working in global set-up JE has to deal with different political situation and ability to deal such situations decides the growth of the organisation. Basically external and internal environment and influences for any organisation could be appropriately discussed with the help of Porter's Model (Johnson and Scholes, 2006). Michael Porter's Five Forces Model, which is described below: Porter explains that there are five forces that determine industry attractiveness and long-run industry profitability. These five "competitive forces" are - The threat of entry of new

Company Law Essay Example | Topics and Well Written Essays - 1500 words

Company Law - Essay Example gment passed also stated that that for the assumption of responsibility to be effective some form of direct or indirect conveyance is needed from the behalf of the director and also requires that the claimant should have relied on the information provided by the director. The judgment provided also included the fact that the company or the organization is a separate entity from the directors and the shareholders. Williams aimed at imposing the personal liability to the organization under the principle of Hedley Byrne. But that did not held true for the case. The principle states that it requires a special relation to exist between the plaintiff and the tortfeasor3 Mr. Mistlin claimed that he had no special dealings with the Williams and he never took the responsibility of Mr. Williams in behalf of the company. The judgment passed made it clear that the director of a company runs no risk of his personal liability by taking the charge of a private limited company unless and until he ha s expressed or taken any sort of personal liability. The judge of the case, Lord Steyn commented on his final verdict that there was no personal dealing with the Williams and the managing of the company and the exchange of ideas between them never crossed the line which could create a feeling among the Williams that he had taken the personal responsibility for them. It was held as a case of negligent representation by the company.4 Standard Chartered Vs Pakistan National Shipping Corporation Limited: The case involved three main organizations which are Standard Chartered, Oak Prime, and The Pakistan National Shipping Corporation. In the particular case Pakistan National shipping Corporation was the shipping agent of the delivery of Iranian Bitumen sold by Oakprime. Incombank issued a letter... This research have discussed the two cases and their judgment cited had some similarity and differences. In both the case, the convict accused was the part of the organization, and in both case both of them belonged to the managerial levels. The accused was held guilty on matters of misrepresentation of certain scenario. In the case of the Williams and the Natural life heath foods limited the Williams carried out their legal case as because they suffered loses based on the financial projections provided to them by the director, similarly in the case of the Pakistan National Shipping Corporation and the Standard Chartered bank, the director of the Oakprime was held as accused on behalf of the false representation of the bills. The judgment in the identical cases was completely different from each other. In the case of the Williams, the director of the concerned organization was let free and the case was represented as scenario of unintentional misrepresentation. The judgment stated th at the director cannot be held responsible for any personal loses of the franchisee based on the dealings between them until he had shown his personal liability for the matter and he has any personal relationship with the party. Whereas in the other case the judgment showed that the director or the management person concerned cannot hide his fault behind the liability of his company. Mr Mehra deliberately made the false statement so that he may attain the payment for the letter of credit. The law cited strictness in matters of fraud cases than in general matters concerned.

Channel Tunnel Project Essay Example for Free

Channel Tunnel Project Essay Channel Tunnel project, which aimed to create a fixed connection between Britain and France, is one of the largest private funded projects in the world. It required the use of newest technology and great management skills in order to deal with unexpected changes. Also the cooperation of two countries’ governments, several constructors, banks and other agencies are needed to make this project run smoothly. This essay divided the whole project into 4 steps in analyzing: conceive, develop, execute and finish. Further, it demonstrates the key advantages and disadvantages of Chunnel project including project scheduling, risk management, people management, cross-culture communication and so on with critical thinking. In addition, recommendations are provided due to the improvement in these procedures. Background The channel tunnel is one of the longest undersea rail tunnels in the world. It has an overall length of 50.5-kilometre and links Folkestone in the UK and Calais in the France. (Anderson, 1994) The proposal of building a fixed link across the English Channel was firstly created as early as 1802 by an engineer in France but it was shelved due to security and political reasons. In 1957, Louis Armand formed the Channel Tunnel Study Group and then presents a design of railway tunnel, bored of submerged, comprising a twin rail tunnel with a service tunnel to the government in 1960. (eurotunnelgroup.com) However, the British minister cancelled the project in 1975 due to financial problems and oil crisis. The project started again until the British and French government reached an agreement, which is finding private promoters for the construction without public funding in 1984. Finally, after negotiate with governments, banks and shareholders, constructions began in 1987 and completed in 19 94. The American Society of Civil Engineers recognizes Channel Tunnel as one of the Seven Wonders of the Modern World. (Reynolds, 1996) Phase 1: Conceive From a project management perspective, the whole project can be divided into 4 stages which are conceive, develop, execute and finish. During conceive phase, it is necessary to focus on the project’s overall strategy. It considers the projects goal, potential problems and opportunities, possible solutions and the links of projects to other projects. Also it should be clarified projects’ basic assumptions. In 1981, the British and French governments are agreed to launch the project. Four plans including Eurobridge, Euroroute, Channel Expressway and Channel Tunnel were submitted to the government and Channel Tunnel Group/ France–Manche (CTG/FM) won the bid eventually. After that, an map of organizational structure had been designed: Source: channel tunnel project overview The picture above reveals the structure of all participants. Eurotunnel is an international company originally formed by CTG/FM. It is the owner and operator of the whole project. And it provided the construction contract to TML. From 1985- 86, Eurotunnel was controlled by CTG/FM and banks. Each of them holds 50% of it. Later on, Eurotunnel became independent company and then transferred to its shareholders and banks. A 55 years contract had been reached between Eurotunnel and the government of Britain and France based on the proposal submitted. The Construction Contract between Eurotunnel and TML sets out the Eurotunnel is also linked to the banks by a loan agreement and to national railways by a usage agreement. Furthermore, governments hired several experts to build an agency called IGC (Intergovernmental Commission) to ensure the project is under control. IGC was permitted for demanding changes in the process of project to keep it â€Å"healthy and safety†. During the stage of planning, the total cost of the project was 5.5 billion dollars and the whole project would be private financed without any government aids. On the consideration of CTG/FM owned an agreement, which gave group the sole right of Channel operation during 55 years, over 200 banks around the world offered loan to the project. (Genus, 1997) However, for a project this large, the lack of scope makes to resource planning, budgeting and cost calculating very difficult, thus it would be a challenge to use ROI (return on investment) to provide accurate data. Because ROI only gives results based on assumptions from TML Schedule management plays an important role in the first stage as well. Several milestones were built including (Fairweather, 1994): 1. 1974, idea of tunnel gathered, but abandoned 2. 1978, British and French discussions continued 3. 1985, British and French government asked for bids 4. 1986, The Treaty of Canterbury was signed allowing the project to proceed and CTG/FM won the contract 5. 1987, Channel tunnel project started 6. 1994, the project complete The schedule was planned to build 3 tunnels, two rail tunnels and one service tunnel allows mixed traffic at short headway (3 minutes between trains) and high speed (100 to 160 km/h) of national trains and its shuttles. These special Shuttles allow rail transportation of cars from one country to another. This made designer to illustrated 12 tunneling faces worked by 11 boring machines. A very complex schedule was made in logistics management and WBS development (work breakdown structure) due to high requirements of activity arrangements and activity duration estimate. Quality and risk management is another significant part of preparation stage. Management team needs to evaluate potential risks of technical, commercial, political, and financial aspects because if risks are identified early enough, an effective response strategy can be made. A risk impact matrix can be made in analyzing process

The inter relationship between firm growth and profitability

The inter relationship between firm growth and profitability Abstract There is a widespread presumption that there is a close relationship between firm growth and firm profitability. However, most of the past studies on firm growth and profitability have been conducted without mutual associations. Only a few studies, thus far, have examined the inter-relationship between firm growth and profitability and the results have been inconsistent. The reason for the inconsistency is mainly due to the lag structure of the models in each study. To address the issue, this study conducted panel unit-root tests on firm growth and profitability separately and then made appropriate models using dynamic panel system GMM estimators. Through the analyses of the models, this study found that in restaurant firms the prior years profitability had a positive effect on the growth rate of the current year, but the current and prior years growth rates had a negative effect on the current years profitability. This outcome implies that profit creates growth but the growth impede s profitability in the restaurant industry. More implications are also discussed in this paper. Keywords: Firm growth; Profitability; Panel unit-root test; Dynamic panel system GMM 1. Introduction The dynamics of firm growth and profitability (or profit rate) is an important issue for industrial practitioners as well as academic researchers (Goddard, McMillan and Wilson, 2006). Theoretically, if firm growth rate is unrelated to firm size and prior growth rate, then firm growth follows random walk and the variance of firm size can increase indefinitely. This is known as the Law of Proportionate Effect (LPE). This stochastic growth process implies unlimited industry growth in the long run. However, if growth rate is inversely related to firm size, firm growth would converge in the long run. On the other hand, Mueller (1977) claimed that firm profitability converges at a certain level due to market competition, which is referred to as Persistence of Profit (POP). The POP literature argues that firm entry and exit are sufficiently free to quickly eliminate any abnormal profit and that the profitability of all firms tends to converge toward the long-run average value. However, Goddard, Molyneux and Wilson (2004) stated, even though it is generally presumed that firm growth and profitability effect each other, that firm growth and profitability are not necessarily connected. Overall, the impact and direction of this relationship remains ambiguous. The ambiguity is associated with various econometric issues. First, due to the endogeneity it is difficult to capture a clear causality and direction between them. Further, if firm growth and profitability time lags are incorporated into the models the endogenous relationship becomes more complicated due to the unknown effects of different time lags. Recently, there have been a couple of attempts to investigate the inter-relationship between firm growth and profitability (Coad, 2007; Davidsson, Steffens, and Fitzsimmons, 2009). Although it is worth exploring the relationship, the results of the studies turned out to be inconsistent. In the previous studies, two types of methodologies were used: panel unit-root test and dynamic panel system GMM estimator. The panel unit-root test is appropriate for testing the convergence hypotheses of firm growth and profit rates. It is also useful for finding the significance of the lag term in a simple autoregressive model, but it is difficult to control the endogenous effect in the model. Moreover, the panel unit-root test cannot directly examine the inter-relationship between firm growth and profitability. Dynamic panel system GMM estimator can control for endogeneity and test the inter-relationship, but determining the number of lag terms remains ambiguous. Thus, in order to address the analysis problems in the previous literature, we first employed the panel unit-root test and subsequently made a testable model for the dynamic panel system GMM estimator. Through those analyses, we intended to investigate the inter-relationship between firm growth and profitability under various time lags. More specifically, the objectives of this study were: 1) to examine the panel unit-root test on the series of firm growth and profitability separately and to find an appropriate lag structure; and 2) to make an appropriate model to investigate the inter-relationship between them through a vector autoregression (VAR) model via dynamic panel system GMM estimator. We used restaurant firms for the study sample and, thus, the results are useful for understanding the dynamics of firm growth and profitability in the restaurant industry. In the following section, we summarize prior LPE and POP literature and present the potential inter-relationships between firm growth and profitability. Next section outlines the details of the study methodology. The following section shows the results of panel unit-root test and dynamic panel system GMM regarding the inter-relationship between firm growth and profitability. Finally, we conclude this study with managerial implications and suggestions for further studies. 2. Literature Review 2.1. Law of Proportionate Effect (LPE) and Persistence Of Profit (POP) The notion that firm growth rate is independent of firm size and past growth rate is known as the Law of Proportionate Effect (LPE) (Gibrat, 1931). According to the LPE, firm growth happens by chance and thus past growth is not a reliable predictor of future firm growth (Goddard et al., 2006). Hence, deterministic factors of firm growth (i.e., managerial capacity, innovation and efficiency) are randomly distributed across firms. However, recent empirical studies have claimed that there is an inverse relationship between firm growth and firm size, rejecting the LPE (Hall, 1987; Evans, 1987; Dunne and Huges, 1994; Geroski and Gugler, 2004). Most empirical studies of LPE used cross-sectional regression models through a simple autoregressive model (for example, AR(1)), but the models were criticized due to their arbitrariness in choosing lag terms. Recently, Chen and Lu (2003) and Goddard et al. (2006) tested the LPE using panel unit-root models because the LPE assumes non-stationarity i n the time series analysis. The benefit of the panel unit-root test on LPE lies in its ability to test a long series effect in non-stationarity, while the weakness of the test is its inability to include control variables that may affect firm growth (i.e., prior profitability, leverage, and market competition). Conversely, researchers on persistence of profit (POP) argue that firm profitability converges at a certain level across all firms and no firms could achieve an above average profit rate in the long run. Mueller (1977) developed the deterministic time-series model for testing the POP and subsequently (Mueller 1986) demonstrated profit rate convergence through an autoregressive model. Since Mueller (1986), most studies on POP have adopted the autoregressive model. However, Goddard et al. (2006) stated that the typical methodology for POP estimated individual effects and autoregressive coefficients for each firm, so the estimated coefficients were often unreliable and the testing power was low. Hence, Goddard et al. (2006) tested the profit rate convergence hypothesis using a panel unit-root test in order to find the stationarity in a profit rate time series. 2.2. The inter-relationship between firm growth rate and profitability (or profit rate) As noted earlier, it is widely believed that firm growth and profit rates are related to each other (Goddard et al., 2004). Some prior studies have suggested that profit rate has a positive impact on growth rate. Alchians (1950) theoretical study argued that fitter firms survive and grow, but less viable firms lose their market share and exit through the evolutionary selection mechanism. Thus, if profit rate reflects the degree of fitness, it is possible to predict that profitable firms will grow. Further, according to the financing constraint hypothesis retained profits can be readily used for investment, whereas firms with low profitability could not grow even if they have positive growth opportunities. This is also consistent with the pecking-order theory, which claims that managers prefer internal capital to external capital, such as debt and equity financing. However, the influence of growth rate on profitability is inconsistent in theories and empirical studies. A Classical Ricardian perspective claims that if a firm shows high profit rates it would grow to exploit additional growth opportunities that are less profitable but still create additional profits. This notion implies three things. First, the profit rate is converges at zero from a long-term perspective. Second, high profit rates have a positive impact on growth rates until the profit rate is zero. Finally, firm growth has a negative influence on profit rate. Along similar lines, the Neoclassical view argues that firms first exploit their most profitable growth opportunities and then consider less profitable opportunities until the marginal profit on the last growth opportunity is equal to zero. Consequently, profitable firms maximize their overall level of profits through profitable growth opportunities but experience a decrease in profit rates. Even though this argument exclud es market competition, it theoretically explains the relationship between firm growth and profit rates. However, managerial growth-maximization hypothesis under market competition (Marris, 1964; Mueller, 1972) claims that the managerial objective of a firm is to maximize growth rather than profit. Thus, this hypothesis proposed that growth and profits are in a competitive relationship with each other, which suggests the possibility that growth victimizes profit. Nevertheless, there are a number of theoretical claims that growth rate has a positive impact on profit rate. First, the Kaldor-Verdoorn Law in economics (Kaldor, 1966; Verdoorn, 1949) claims that growth increases productivity and in turn the enhanced productivity increases profit rates. This notion is consistent with scale economies (Gupta, 1981). Thus, because firm growth contributes to an increase in firm size, the larger size could gain benefits from an economy of scale and in turn this affects profit enhancement. That is, growth can help increase profitability. However, empirical studies on the effects of growth rate on profit rate have not always been supportive. Capon, Farley and Hoenig (1990) reported that firm growth is related to high financial performance, but it was significant only in some industries. Chandler and Jansen (1992) and Mendelson (2000) reported a significant positive correlation between sales growth and profit rates, whereas Markman and Gartner (2002) found no significant relationship between growth and profitability. Furthermore, Reid (1995) claimed growth had a negative effect on profitability. The relationship between growth and profit rates are more complicated when time lags of the two variables are considered. Only a few empirical studies have considered the link between growth and profit rates using various time lag terms. Goddard et al. (2004) found profitability to be important for future growth in European banks. Conversely, through panel data estimates of French manufacturing firms Coad (2007) found that the opposite direction of causation (i.e., growth to profitability) might be true. Both Goddard et al. (2004) and Coad (2007) investigated the relationship between firm growth and profit rates with vector autoregressive models using dynamic panel system GMM estimators. The difference between the two studies was that Goddard et al. (2004) used a one-year time lag but Coad (2007) incorporated three-year time lags in the analysis. More specifically, Goddard et al. (2004) found that a one-year lagged profit rate had a positive significant effect on the current-years gr owth rate, but a one-year lagged growth rate did not have a significant impact on the current-years profit rates. However, Coad (2007) showed that two- and three-years lagged profit rates have a positive significant influence on the current-years growth rate and that the current-years growth rate was positively significant in terms of the current-years profit rates. As noted, Goddard et al. (2004) and Coad (2007) reported opposing empirical results, which could be attributed to the difference in lag length. Considering the scarcity of past studies on the growth-profitability relationship and the problems with analytic methods, there is a need for a study that can verify this important relationship in a more holistic way. Hence, we intended to address the above research need in this study. A detailed outline of how the study was conducted follows in the next section. 3. Data and methodology The data used in the analysis was collected from the COMPUSTAT database using SIC 5812 (eating places). The data covers fiscal years 1978 to 2007 for U.S. restaurant firms. Profit rate (or profitability) was measured as net income divided by net sales and growth rate was gauged as the difference between the current and prior years net sales divided by the prior years net sales. After deleting severe outliers in the two main variables, growth rate and profit rate, this study used 2,927 firm-year observations for the analysis. As previously indicated, this study first conducted panel unit-root tests on growth and profit rates separately. The Dickey-Fuller unit-root test was set up for testing the stationarity of a time series. For example, if à Ã¢â‚¬  1 is equal to a unit in equation (1), the series is non-stationary. Equation (1) could be expressed as equation (2) by subtracting Yt-1 on both sides. Yt = à Ã¢â‚¬  1Yt-1 + ÃŽÂ µt (1) ΆYt = ÃŽÂ ³Yt-1 + ÃŽÂ µt (ÃŽÂ ³ = à Ã¢â‚¬  1 1) (2) Equation (2) above is a simplified Dickey-Fuller unit-root test (DF test). The null hypothesis of a DF test is that ÃŽÂ ³ equals zero and the alternative hypothesis is ÃŽÂ ³ p ΆYt = ÃŽÂ ³Yt-1 + à ¢Ã‹â€ Ã¢â‚¬ËœÃƒ Ã¢â‚¬  iΆYt-i + ÃŽÂ µt (ÃŽÂ ³ = à Ã¢â‚¬  1 1) (3) i=1 However, the data structure of this study was an unbalanced panel. Thus, equation (3) could be expressed as a panel setting following equation (4): p ΆYi,t = ÃŽÂ ³Y i,t-1 + à ¢Ã‹â€ Ã¢â‚¬ËœÃƒ Ã¢â‚¬  iΆY i,t-i + ÃŽÂ µ i,t (ÃŽÂ ³ = à Ã¢â‚¬  1 1) (4) i=1 Equation (4) is the testable model for the panel unit-root test in this study. A few studies have developed panel unit-root tests (Im, Pesaran and Shin, 2003; Levin, Lin and Chu, 2002; Maddala and Wu, 1999). However, in the case of an unbalanced panel setting, the Fisher test is the only one available. It combines the p-values from N independent unit root tests, as developed by Maddala and Wu (1999). Based on the p-values of individual unit root tests, Fishers test assumes that all series are non-stationary under the null hypothesis against the alternative that at least one series in the panel is stationary. Unlike other panel unit-root tests, Fishers test does not require a balanced panel. Thus, this study conducted Fishers test on the growth and profit rates and selected an appropriate lag length in ADF formula. After selecting the proper lag length in ADF formula, it was transformed as follows: p ΆYi,t = ÃŽÂ ³Y i,t-1 + à ¢Ã‹â€ Ã¢â‚¬ËœÃƒ Ã¢â‚¬  iΆY i,t-i + ÃŽÂ µ i,t i=1 = ÃŽÂ ³Y i,t-1 + à Ã¢â‚¬  1ΆY i,t-1 + à Ã¢â‚¬  2ΆY i,t-2 + à Ã¢â‚¬  3ΆY i,t-3 + à ¢Ã¢â€š ¬Ã‚ ¦ + à Ã¢â‚¬  pΆY i,t-p + ÃŽÂ µ i,t = ÃŽÂ ³Y i,t-1 + à Ã¢â‚¬  1(Y i,t-1 Y i,t-2) + à Ã¢â‚¬  2(Y i,t-2 Y i,t-3) + à ¢Ã¢â€š ¬Ã‚ ¦ + à Ã¢â‚¬  p(Y i,t-p Y i,t-(p+1)) + ÃŽÂ µ i,t = (ÃŽÂ ³ + à Ã¢â‚¬  1) Y i,t-1 + (à Ã¢â‚¬  2 à Ã¢â‚¬  1) Y i,t-2 + (à Ã¢â‚¬  3 à Ã¢â‚¬  2) Y i,t-3 + à ¢Ã¢â€š ¬Ã‚ ¦ + (à Ã¢â‚¬  p à Ã¢â‚¬  p-1)Y i,t-p à Ã¢â‚¬  pY i,t-(p+1) + ÃŽÂ µ i,t (5) Consequently, equation (5) could be expressed as follows: Yi,t = (1 + ÃŽÂ ³ + à Ã¢â‚¬  1) Y i,t-1 + (à Ã¢â‚¬  2 à Ã¢â‚¬  1) Y i,t-2 + (à Ã¢â‚¬  3 à Ã¢â‚¬  2) Y i,t-3 + à ¢Ã¢â€š ¬Ã‚ ¦ + (à Ã¢â‚¬  p à Ã¢â‚¬  p-1)Y i,t-p à Ã¢â‚¬  pY i,t-(p+1) + ÃŽÂ µ i,t (6) Thus, if the panel unit-root test chooses p lags in ADF formula, it could be transformed to AR(p+1) model. This AR(p+1) model was then used for the dynamic panel system GMM estimator. Also, since the purpose of this study was to investigate the inter-relationship between firm growth and profitability, this study adopted the vector autoregression (VAR) model to find the reciprocal relationship between growth rates and profit rates. p+1 q+1 p+1 SGi,t = ÃŽÂ ²0 + à ¢Ã‹â€ Ã¢â‚¬ËœÃƒÅ½Ã‚ ·iSGi,t-i + à ¢Ã‹â€ Ã¢â‚¬ËœÃƒ Ã¢â€š ¬iPRi,t-i + ÃŽÂ ²1Salei,t-i + ÃŽÂ ²2LEVi,t-i + à ¢Ã‹â€ Ã¢â‚¬ËœÃƒÅ½Ã‚ ¶iΆDMAi,t-i i=1 i=1 i=0 + DYeart + ÃŽÂ µi,t Model 1 q+1 p+1 PRi,t = ÃŽÂ ²0 + à ¢Ã‹â€ Ã¢â‚¬ËœÃƒ Ã¢â€š ¬iPRi,t-i + à ¢Ã‹â€ Ã¢â‚¬ËœÃƒÅ½Ã‚ ·iGRi,t-i + ÃŽÂ ²1Salei,t-i + ÃŽÂ ²2LEVi,t-i + ÃŽÂ ²3MarketSharei,t-i i=1 i=0 + DYeart + ÃŽÂ µi,t Model 2 SGi,t is the sales growth rate and PRi,t is the profit rate at time t for firm i. Salei,t is the net sales at time t for firm i. We also included control variables in both models. In the LPE literature, recent studies showed that prior firm size is inversely related with current growth rate (Evans, 1987; Hall, 1987; Geroski and Gugler, 2004). On the other hand, Baumol (1959) provided evidence that firm profitability increases with firm size, while Amato and Wilder (Kwangmin!!, Year and reference?) showed that no relationship exists between firm size and profit rate. Finally, Samuels and Smyth (1968) stated that profit rate and firm size are inversely related. Thus, we included the prior years net sales as a firm size variable in both models to control for size effect. Debt leverage (LEVi,t) was also incorporated in both models as a control variable, which was calculated as total debt divided by total assets. Theories of optimal capital structure based on the agency costs of managerial discretion suggest that the adverse impact of leverage on growth increases firm value by preventing managers from taking on poor projects (Jensen,1986; Stulz, 1990). Opler and Titman (1994) empirically found that sales growth is lower in firms with higher leverage. Thus, the influence of debt leverage on growth could be negative. However, the prior literature on the relationship between debt leverage and profit rate, has shown mixed results. Debt affects profitability positively according to Hurdle (1974), but negatively according to Hall and Weiss (1967) and Gale (1972). Debt could also yield a disciplinary effect under the free cash flow hypothesis (Jensen, 1986; Stulz, 1990). Firms with high debt leverage can reduce wasteful investment opportunities and increase f irm performance, suggesting a positive relationship between debt leverage and profit rates. However, using debt can increase conflicts between debt and equity holders. Equity holders encourage managers to undertake risky projects because the benefits are transferred only to equity holders (Stiglitz and Weiss, 1981). Thus equity holders tend to support the use of debt. However, high uses of debt could deteriorate firm profitability by taking on overly risky projects. The effect of leverage on profit rate may not be uni-directional. Consequently, we incorporated leverage as a control variable due to its important potential effects on profitability. In the growth rate equation (Model 1), we incorporated mergers and acquisitions (MA) dummy variables from time t to t-(p+1) because MA execution abnormally increases growth rates. MA executions were identified from the SDC Platinum database. In the profitability equation (Model 2), we included a market share variable, which was calculated as the net sales of firm i at time t divided by the sum of net sales at time t. According to Buzzell, Gale and Sultan (1975), market share had a positive impact on firm profitability. Because a larger market share means stronger market power, firms with large market shares could have the power to control market prices and be in a better position to negotiate with their suppliers. Thus, a positive relationship between market share and profit rates is expected. Because the current years growth could affect the current years profit rate, following Coad (2007), we included the current years growth rate in Model 2. Statistically, ordinary least square (OLS) regression requires that the right-hand side variables should be independent of the error term. However, if there is a bi-directional causation between dependent (left-hand side) variables and explanatory (right-hand side) variables, this condition is not satisfied and thus OLS regression produces biased and inconsistent estimates. This endogeneity problem could be solved by choosing appropriate instrumental variables, which are correlated with the explanatory variables but not the error term. This means that the instrumental variables should be exogenous but if they are endogenous, the equation would be over-identified. However, if the instrumental variables are weakly correlated with the explanatory variables, which is called a weak instrument, the estimates are biased and inconsistent. Arellano and Bond (1991) proposed the GMM estimator for panel data, which could control the potential endogenous explanatory variables. This method uses the first difference model, which eliminates the time-invariant firm-specific effect, and instrumental variables for the endogenous variables were generated by lags of their own level. However, if the lagged level instruments are weakly correlated with the endogenous explanatory variables, there could be a finite sample bias in estimators. In particular, if the variable series tends to show a highly persistent profit rate series (Mueller, 1977), this weak correlation between lagged level instruments and endogenous explanatory variables is problematic. Arellano and Bover (1995) and Brundell and Bond (1998) developed a dynamic panel GMM estimator that estimated with level-equation and difference equation, which is called a system GMM. Consequently, the dynamic panel system GMM estimator has better asymptotic and finite sample propertie s than the one used by Arellano and Bond (1991). Thus, this study analyzed the proposed models using the dynamic panel system GMM estimator, which produces unbiased and consistent estimates after controlling for endogeneity and firm-specific effects even when the sample period is short. Even though the full sample period of this study is 30 years, the panel structure is not balanced due to the entry and exit of firms. Bludell and Bond (1998) suggested the minimum requirement for panel length as T à ¢Ã¢â‚¬ °Ã‚ ¥ 3. Thus, we excluded firms which did not exist at least three years in the sample period. Another requirement was that there is no serial correlation of the second order error terms. We conducted the serial correlation test for panel GMM estimators developed by Arellano and Bond (1991). In order to test the exogeneity of instrumental variables, we used the Hansen test instead of the Sargan test because the Sargan test is not robust enough to detect heteroskedasticity and autocorrelation (Roodman, 2006). Finally, as Roodman (2006) suggested, we included year dummies in the models and estimated the system GMM by two-step estimator because the two-step estimator is robust enough to detect the heteroskedasticity. For comparisons with the dynamic panel system GMM estimator, we conducted ordinary least square (OLS) and fixed-effect regression. 4. Results 4.1. Panel unit-root test for firm growth and profit rates As indicated, we conducted the panel unit-root test developed by Maddala and Wu (1999) using Fishers test, which assumes that all series are non-stationary under the null hypothesis. Equation (4) was tested on both growth and profit rates. The results are presented in Table 1. For the series of sales growth and profit rates, lag(4) was justified. Thus, the law of proportionate effect hypothesis was rejected but the persistence of profit hypothesis was validated. The results indicate that the growth rates are serially correlated and the profit rates are convergent. The purpose of the panel unit-root tests on growth and profit rates was to examine the stationarity of the two series and to make an appropriate model for the dynamic panel system GMM estimator. As shown earlier, if the panel unit-root test justifies p lags, the ADF formula could be transformed to AR(p+1) model. Consequently, the testable model is AR(5) for both growth and profit rates. Based on the lag length from the pane l unit-root test, we excluded any firm that existed less than five years in testing the dynamic panel system GMM estimator. Then, we tested the proposed models using AR(5) in order to identify the inter-relationship between firm growth and profit rates in various time lag structures. (Insert Table 1 Here) 4.2. Descriptive statistics and scatter plots of growth and profit rates Table 2 shows the descriptive statistics of the major variables of this study. The average sales of the sampled restaurant firms was 541.8 million dollars and the average growth rate in sales was 16.3%. The average profit rate (return on sales) was 1.3% and total debt rate (debt leverage) was 61.3%. Thus, the figures show that the restaurant industry has a high growth rate, but its profitability is not positive and it uses more debt than equity. (Insert Table 2 Here) Before conducting the dynamic panel system GMM estimator, we checked the scatter plots between growth and profit rates using various time lags. As Coad (2007) indicated, the non-parametric scatter plots of growth and profit rates gave us a visual appreciation of the underlying phenomenon. Thus, before testing the quantitative relationship, we can obtain useful information via scatter plots. Figure 1 shows the scatter plots of growth at time t (Y-axis) and growth rates at time t-1 to t-5 (X-axis) for all samples. Except for the first plot (growth rate time t versus t-1), all other plots seem to show no relationship. The plots, excluding the first plot, look like a cloud shape but are a bit scattered horizontally. Based on the plot for growth rate time t and t-1, the current and prior years growth rates are positively correlated. However, Figure 1 represents all firms, including MA firms. Apparently, firms with MA can experience abnormally high growth rates compared with non-MA firms. Thus, we checked the same scatter plots after excluding MA firms, as presented in Figure 2. The relationship between current and prior years growth rate is clearly positive and growth rate at t-2 also looks positive on current years growth rate. However, the earlier years growth rates (i.e., t-3, t-4 and t-5) appear to have no relationship with the current years growth rate. Figure 3 shows scatter plots of profit rate at time t (Y-axis) and profit rates at time t-1 to t-5 (X-axis). Interestingly, clear heteroskedasticity is detected in the relationship between them. Thus, the usage of the two-step estimator in the dynamic panel system GMM estimator is justified by Figure 3. In all of the scatter plots there is a tendency toward a positive relationship between current and prior profit rates. (Insert Figures 1, 2, and 3 Here) Figure 4 shows scatter plots of profit rate at time t (Y-axis) and growth rates at time t-1 to t-5 (X-axis). In all plots, points were spread horizontally. It seems that there is no effect of growth rate on profit rate. Surprisingly, the scatter plot of current growth rates appears to have no relationship with current profit rate. On the other hand, Figure 5 shows that profit rates clearly have a positive influence on the current growth rate. The majority of the points were spread vertically. The scatter plots show that prior profit rates seems to have a positive influence on current growth rates, but the influence of prior growth rates on current profit rates was not found. (Insert Figures 4 and 5 Here) 4.3. Results from Dynamic panel system GMM estimator Tables 3 and 4 show the results of the proposed models explained in the methodology section. Even though yearly dummies were not reported in Tables 3 and 4, they were included in the models. As shown in Table 3, the prior years growth rate at time t-1 was found to be positively significant on current growth rates in all three regressions (OLS, fixed-effect and system GMM). However, the directions and significances of the coefficients of the other prior growth rate terms varied across the three models. As explained earlier, however, the system GMM is the most appropriate model for this study due to the endogeneity and time invariant firm-specific effect and the results of the OLS and fixed-effect regression models were used simply for the purpose of comparison. Goddard et al. (2004) reported that the prior years (time t-1) growth rate was positive but not significant. It is difficult to directly compare their results with ours due to the difference in the lag length structure. Interestingly, our study showed that growth rates at time t-1 and t-5 were positively significant on current growth rates, but growth rates at time t-2 and t-4 were negatively significant. These results suggest that short-term and long-term prior growth rates have a positive impact, but mid-term prior growth rates have a negative influence on current growth rates. Our primary interest in Model 1 was the effect of the prior years profit rates on current growth rates. The system GMM results show that profit rates at time t-1 and t-5 were positively significant. The magnitude of the coefficient of profit rate at time t-5 was small, meaning that the positive impact of long-term prior profit rates on current growth rates is small. However, the prior years (time t-1) profit rate has a positively significant effect on current growth and the magnitude of the coefficient is large. Coads (2007) study showed that profit rates at time t-1 to t-3 were all positive but the prior years (time t-1) profit rate was not significant. Coad (2007) used an AR(3) model and thus a direct comparison of ours to Coads (2007) is not possible. Yet it is clear that the direction of the coefficients were very similar. Overall, our study results provide evidence that recently profitable firms may grow faster. In terms of the relationship between prior years firm size and current growth rate, all three results show a negative coefficient but the negative effect was significant only in OLS. Also, debt leverage had a negative effect on current growth rates but the system GMM result was not significant. Additionally, all serial correlation tests were not significant, showing that there was no serial correlation problem. Also, the over-identification tests were not significant, meaning that our instruments were not endogenous and the estimates were reliable. (Insert Table 3 Here) Table 4 shows the results of the profitability equation (Model 2). The results of the system GMM shows that profit rates at time t-1, t-2 and t-5 were had positively significant effect on current profit rates. However, profit rates at time t-3 and t-4 were negatively significant. The results suggest that short-term and long-term prior profit rates have a positive impact on current profit rates, but mid-term prior profit rates have a negative influence on current profit rates. Similarly, Goddard et al.s (2004) results showed that the prior years (time t-1) profit rate was positive and significant in its AR(1) model. Table 4 also presents the effect of the prior years growth rates on current profit rates were negatively significant in time t and t-1. Unlike our results, Goddard et al. (2004) found that the prior years growth rate was posi