Saturday, June 27, 2020
Is Social Work Just Common Sense? The unsung heroes of society, social workers, arent often considered to be the top of professionalism. From the outside, it looks like a job that anybody off the street can apply for. Social work revolves around helping people; with common sense as your guide, surely you will be able to complete all of your tasks correctly! This assumption is far from accurate, however. It takes many people by surprise to find out that social workers may need a BA or even an MA in order to compete for a job in social work. In fact, many did not know you needed a degree at all. Though there is truth to the fact that helping our fellow human beings does possess an element of common sense, there are still many things that social workers need to learn before they can hope to help anybody in a professional sense. There are state and federal laws to abide by, privacy terms to memorize, and counseling concepts to adapt to. While it is true that a common sense does have its place in social work, as well as h elping others, social work has much more to it; social workers need an education in which to build their career as well as their ability to help others. Common sense can sometimes be a subjective concept; there is not always a shared understanding, as people may like to think. The primary mission of a social worker is to better the lives of the people in their communities, reach out to those in need, and help people who cannot help themselves. These acts sound like common sense to most and can make the idea of getting an education seem superfluous. If someone is in trouble, help them. The idea does not require a degree. If an alcoholic is abusing his wife, reach out to her and help her remove herself from the situation. Make her feel supported and guide her as she makes difficult decisions. If a homeless man wants to turn his life around, show him where he can find shelter, food, and the possibility of work while he gets back up on his feet. These are not typically the acts of an educated person, but a kind person. Allen Rubin and Earl Babbie, authors of Ã¢â¬Å"Brooks/Cole Empowerment Series: Research Methods for Social WorkÃ¢â¬ s uspect this is why most people do not realize that social work requires more than common sense (2013). The assumption is made that social work is about being kind, and, Rubin argues, a fair amount of it is. However, thatÃ¢â¬â¢s not all there is to the profession. Though one would think that it is common sense to remove a woman from an alcoholic partner and offer her counsel, people fail to realize that it is illegal to offer her counsel without getting education first (2013). Many times when it comes to helping those who are suffering or in need, there are procedures that need to be followed. If every social worker began making calls that they thought were right, there would be a system breakdown because, as previously mentioned, common sense is often subjective. Though the act of helping is universal, how to help is where people often miscommunicate as outlined in Frederic A. ReamerÃ¢â¬â¢s book, Ã¢â¬Å"Social Work Values and EthicsÃ¢â¬ (2013). Reamer states that even though common sense is essential, it is not all that there is. Rules and procedures are in place so that an order may be established. Without a recognized order to follow, each social worker would begin doing what he or she thought was right. While each employee would undoubtedly have the best of intentions, some actions may begin to infringe on citizenÃ¢â¬â¢s rights to assert freedoms or privacy (2013). If the social worker is educated on regulated procedures, it helps him avoid these discrepancies, and while individuals still may not be happy with the service, the social worker can be sure that it is the state and federally mandated care that they are offering. With these facts in mind, it is easy to see that though common sense can be a focal point of social work, it takes a high amount of professionalism. Though they may be required to find alternative ways to help individuals, they are still required to follow rules and regulations set up by their state and federal consensus. Anybody without education concerning social work would not be aware that this all requires professionalism of the utmost authority. Social workers must follow rules, learn procedures, adhere to privacy policies, and abide by specific state laws, showing that the occupation of a social worker contains the customary foundation of any other professional occupation. Andreas LiljegrenÃ¢â¬â¢s article, Ã¢â¬Å"Pragmatic Professionalism: Micro-Level Discourse in Social WorkÃ¢â¬ , published in European Journal of Social Work summarizes practical applications for professionalism in social work that can concern confidentiality, privacy allowing the client to choose their ow n course of action (2012). In LiljegrenÃ¢â¬â¢s article, professionalism seems to come in many forms, but is apparently effective the most when the social worker relinquishes authority and simply offers options to the client, allowing them to choose what will happen next. When this happens, the social worker is nothing more than a conduit for help and change (2012). To many, this will appear to be the opposite of common sense. It is subjective, as previously stated, but many would agree that if common sense were applied, the social worker would take charge; in these circumstances they must know better. However, LiljegrenÃ¢â¬â¢s research shows promising things for allowing clients to choose their own methods of help. This proves that sometimes social work works against the widely accepted concept of common sense (2012). Another topic of interest that many people do not consider is the base of knowledge required to become a social worker. The education required is surprisingly extensive. This is because social workers are considered to be the hub in a constantly rotating wheel of individuals who require help; because of this they need information and knowledge on a variety of subjects. David A. Hardcastle reveals in his book Ã¢â¬Å"Theories and Skills for Social WorkersÃ¢â¬ that social workers seeking employment in communities that have populations of 15,000 or higher can find placement in nearly 250 positions concerning almost 50 areas of expertise (2011). Classes to become a social worker are very diverse and cover a wide range of subjects. Social workers learn about everything from adoption policies, foreign and at home, to how to counsel and individual overcoming addiction. Social workers also learn about resources that may be offered within their community, as well as how to jumpstart resourc es that are needed (2013). This information, plus much more, is combined with ways that allow a social worker to help the client transition from a difficult period in his life to a better one. Without this knowledge, the social worker would be ill-equipped. They also learn how to improve the community as a whole. Social workers learn skills in human resources and interpersonal communication as well as intervention and confidentiality. As pillars of help in the community, social workers must be able to connect with those in need on a personal level while remaining professional. This is not an easy line to walk; learning to do so takes education and practice (2013). Many social workers also strive for professional connections among other social workers. This bond can help service future members of the community who may eventually be in need. Many agencies eventually reach their capacity to take on new clients. If a social worker is connected with professionals at another agency, they. can help guide potential clients that they are unable to other agencies that can provide assistance(2013). In my opinion, the knowledge that social workers acquire through their education is essential to their jobs. Common sense is needed, but it is not sufficient enough on its own to allow a social worker to complete tasks. Because social work is such a diverse occupation, education is a cornerstone that is necessary for members of the community, as well as communities themselves to be serviced in a way that meets the various needs of each unique situation. While some may expect a social worker to handle any situation based on common sense alone, this is impossible and could lead to trouble. Due to so many laws involving privacy, confidentiality, state mandates, and federal instigations, social workers must be better prepared; there could be bureaucratic red tape that common sense does not apply to (Saleeby, 2012). With no real experience, it is easy for most citizens to assume that being a social worker is easy. Saving individuals from addiction is as simple as telling them to stop, and keeping children safe is as unsophisticated of a process as asking the parents not to abuse them anymore. This is not so, and there is much more that goes into situations that social workers are involved with. How is it that all of this knowledge became a part of social work? The answer is relatively simple. As social work evolved from a simple act of volunteering and a civic duty to a professional occupation, its standards evolved. Over the years policies regarding privacy and client confidentiality were put in place to protect the clientÃ¢â¬â¢s reputation, according to Eileen GambrillÃ¢â¬â¢s book, Ã¢â¬Å"Social Work Practice: A Critical ThinkerÃ¢â¬â¢s Guide (2012).Ã¢â¬ The book outlines the evolution of social work from the 20Ã¢â¬â¢s to today, detailing the rise of confidentiality and the expansion of social workerÃ¢â¬â¢s duties, as well as their education process and how to handle many unconventional situations. Gambril suggests that all social workers be critical thinkers who are able to think quickly on their feet. She also suggests that they be kind and maintain a strong heart while still possessing a desire to learn, citing that one needs to always educate oneself in or der to educate others (2012). Jane F. GilgunÃ¢â¬â¢s Ã¢â¬Å"The Four Cornerstones of Evidence-Based Practice in Social WorkÃ¢â¬ , also gives a detailed account of how procedures to check the legitimacy of clientÃ¢â¬â¢s claims was put in place after individuals began using the social work system as a weapon (2005). As social work grew, the knowledge of the social worker began to expand. It will continue to do so if the profession continues to evolve. In conclusion, common sense is very important for social work. However, it is not the most important part of social work. It is also almost insulting to say that there is nothing to social work other than common sense. Many people work very hard educating themselves for years on a variety of subjects so that they may help better the people in their community. They use common sense, but they use their education and their knowledge more than anything else. They deserve commendation for the hard work and dedication that they show their communities. Doing so in and of itself is simply common sense. References Gambrill, E. (2012). Social Work Practice: A Critical Thinkers Guide. Oxford : Oxford University Press. Gilgun, J. F. (2005). The Four Cornerstones of Evidence-Based Practice in Social Work. Research on Social Work Practice, 52-61. Hardcastle, D. A. (2011). Theories and Skills for Social Workers. Oxford : Oxford University Press. Liljegran, A. (2012). Pragmatic Professionalism: Micro-level Discourse in Social Work. European Journal of Social Work, 295-312. Northern, H., Kurland, R. (2013). Social Work With Groups. Columbia: Columbia University Press. Reamer, F. A. (2013). Social Work Values and Ethics. Columbia: Columbia University Press. Rubin, A., Babbie, E. (2013). Brooks/Cole Empowerment Series: Research Methods for Social Work. Cengage Learning. Saleeby, D. (2012). The Strengths Perspective in Social Work Practice. Pearson.
Monday, May 25, 2020
The Fourth Amendment known as the Search and Seizure amendment was first passed by Congress on September 25, 1789 (Amendment IV SEARCH AND SEIZURE). When this amendment was first passed by Congress criminal defendants and family members of the defendant did not put much thought or value into this amendment because it was of little help to them. However, after a Supreme Court case in 1914 called Weeks v. United States, this amendment began to have more value for criminal defendants and their families (The Fourth Amendment and the Ã¢â¬Å"Exclusionary RuleÃ¢â¬ ). For instance, one Supreme Court case known as Tennessee v. Garner that was argue on October 30, 1984 and decided upon on March 27, 1985, (Tennessee v. Garner) caused a large amount ofÃ¢â¬ ¦show more contentÃ¢â¬ ¦Garner). Edward Garner then began to climb over the fence (Tennessee v. Garner). Officer Hymon felt that if he allowed Edward Garner to climb over the fence than he would not be captured. When Edward Garner was clim bing the fence to get away from Officer Hymon he was shot by Officer Hymon (Tennessee v. Garner). The bullet Officer Hymon shot at Edward Garner hit him in the back of the head (Tennessee v. Garner). Edward Garner was taken to the hospital by an ambulance, where he died on the operating table (Tennessee v. Garner). Even though Edward Garner was unarmed when Officer Hymon found him at the 6-feet high chain link fence the Officers did find ten dollars and a purse taken from the house on his body (Tennessee v. Garner). After this night in October 1974, when Edward Garner was shot and killed by Officer Hymon while he was fleeing the scene of the crime, Officer Hymon felt that he was justified in shooting him to prevent his escape even though he knew that Edward Garner was unarmed(Tennessee v. Garner). Officer Elton Hymon believed that his action was an acceptable because of a Tennessee statute that states that, if, after a police officer has given notice of an intent to arrest a crimina l suspect, the suspect flees, or forcibly resists, Ã¢â¬Å"the officer may use all the necessary means to effect the arrestÃ¢â¬ (Tennessee v. Garner). I believe that Officer Elton Hymon did not have to kill Edward Garner justShow MoreRelated Tennessee v. Garner 1985 Essay802 Words Ã |Ã 4 PagesName:Ã Ã Ã Ã Ã Tennessee v. Garner Citation:Ã Ã Ã Ã Ã No. 83-1035, 83-1070 (1985) Facts:Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã On October 3, 1974, Memphis Police Officers Hymon and Wright were dispatched to answer a Ã¢â¬Å"prowler inside call.Ã¢â¬ When the police arrived at the scene, a neighbor gestured to the house where she had heard glass breaking and that someone was breaking into the house. While one of the officer radioed that they were on the scene, the other officer went to the rear of the house hearing a door slam and saw someoneRead MoreThe Death Of Tennessee V Garner1400 Words Ã |Ã 6 PagesSidney Hildebrandt Tennessee V Garner On the night of October 3rd, 1974 at approximately 10:45 p.m. Edward Garner was shot by Officer Hymon in an attempt to stop him from escaping a crime scene. Garner died on the operating table due to the gunshot wound on the back of his head. His crime was burglary and he was found with a mere ten dollars and a purse. The case was argued on October 30th, 1984 and a decision was made on March 27th, 1985. The father of Edward Garner believed his sonÃ¢â¬â¢s constitutionalRead MoreTennessee V. Garner Essay813 Words Ã |Ã 4 PagesName: Tennessee v. Garner Citation: No. 83-1035, 83-1070 (1985) Facts: On October 3, 1974, Memphis Police Officers Hymon and Wright were dispatched to answer a prowler inside call. When the police arrived at the scene, a neighbor gestured to the house where she had heard glass breaking and that someone was breaking into the house. While one of the officer radioed that they were on the scene, the other officer went to the rear of the house hearing a door slam and saw someone run across theRead MoreThe Amendment Of The United States Constitution1767 Words Ã |Ã 8 Pageslethal encounters, this research will show the benefits of less lethal measures. Introduction Police use of force, non-lethal and lethal has and always will be a highly debated topic of law enforcement. There will always be critics of every type of case whether it warranted lethal or non-lethal force. LetÃ¢â¬â¢s start out first with the definition of use of force by the International Associations of Chiefs of Police that amount of effort required by police to compel compliance from an unwilling subjectRead MorePolice Reform : 1960s And Today s Society1732 Words Ã |Ã 7 Pagesthe police since that is who they turn to when they need help. ThatÃ¢â¬â¢s why the police created programs that made the communities relationship better with minorities. The Kerner commission influence two important supreme court cases that have effect two important court cases that have influenced the American peopleÃ¢â¬â¢s rights. In 1961, police officers forced their way into Dollree MappÃ¢â¬â¢s house without a search warrant. The police assumed that Mapp was letting a suspected bomber in her home and theyRead MoreThe Reasonableness Of A Deadly Force Seizure811 Words Ã |Ã 4 PagesIn 1985 the U.S. Supreme Court ruling in Tennessee v. Garner severely restricted the circumstances under which law enforcement officers may use deadly force to arrest a suspect. In assessing the reasonableness of a deadly force seizure per the fourth amendment, the Court ruled that the need for a police intrusion had to be weighed against its risks, and determined that common law any-fleeing-felon statutes were unconstitutional. In a narrative give the facts, issues, and court holdings. (ncjrs.govRead MorePolice Profiling And The Media1325 Words Ã |Ã 6 PagesvictimsÃ¢â¬ , every incident and case is different and the media does not always show or tell both sides of the story. In this paper I will be investigating two incidents that have occurred in the past year regarding black suspects being shot and killed by white police officers. One case happened in South Carolina and the other in Illinois. After investigating and finding facts I will then compare both cases to the Supreme Court case: Tennessee v. Garner 1985, and determine what case is the most alike to itRead MoreEssay on Use of Force in Law Enforcement2254 Words Ã |Ã 10 Pagesexcessive, and deadly force. The authority for law enforcement officers to use force comes from the United States Constitution (case law), state statutes, and department policy. Law enforcement use of force is very important because it involves the patrolman on the street, the corrections officer in jails and prisons, and the c ourts where excessive use of force cases are held. Often times while attempting to make an arrest, a law enforcement officer will have to use the appropriate use of forceRead MoreCj 499-01 Unit 3 Crime Scenario Analysis1733 Words Ã |Ã 7 Pagesgovernmental interest at stake. The Supreme Court has stated that this involves the inception (How it all started in the first place), the manner of force used (what did the officer do), and the duration (how long was the action) (Graham v Connor, 1989; Tennessee v Garner, 1985). In analyzing the above listed scenario, the information provided by the alleged victim to the officer includes three alleged crimes. These alleged crimes include First Degree Robbery RCW 9A.56.200, Assault II with a Weapon RCWRead MoreThe Crime Of The Police Essay1629 Words Ã |Ã 7 PagesIntroduction When we think of the police, we normally think of the brave men and women out on the street, enforcing the law, catching criminals, helping out the public in cases of emergency and making us feel safe in general. Most of the Police in most of the world is like that which is a good thing, However in the United States of America the police here are a bit more ruthless. Most of the police officers are very nice people and they really do want to help out in their community, but unfortunately
Monday, May 18, 2020
Sample details Pages: 12 Words: 3486 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? This business analysis report will help in providing an insight of the profitability, P/E Profit to earnings ratio and the recent trade performances of two established consumer retail apparel companies, Burberry which is listed in the United Kingdom (UK) and GAP Inc. which is listed in the United States of America (US). A financial analysis of any organisation helps in assessing the various determinants of the financial performance of the company by providing an evaluation for the strengths and weakness of the respective organisations providing with the directions where the management should concentrate for maximization of wealth. Speciality Apparel Stores are considered as a subset for the retail industry where a customer can find clothing, accessories as well as footwear under one store. These stores typically sell only merchandise which has been manufactured by them. Typically one finds that such speciality apparel stores focus one type of customer where the overall assortment of the merchandise in the store has a common theme such as luxury goods. DonÃ¢â¬â¢t waste time! Our writers will create an original "Introduction Of Burberry And The Economic Conditions Finance Essay" essay for you Create order Numerous discussions have taken place whether in conferences, in actuarial literature or individuals who have held interest in combating the various issues that are prevalent in what one calls providing a fair value to any organisation. One finds there are numerous bodies of literature present which explains the different practises for accounting, taxation, regulations and different financial ratios where each providing with their estimated fair value. Traditional approaches of financial ratios surprisingly today are termed as inadequate. Primary conscientiousness of any organisation is to increase their profits and market share while striving to increase their market returns as well as maximization of wealth for their investors and shareholders. A large part of depends on the policies and strategies of the various organisations. Profitability ratios help in determining the efficiency of the operations and management of these organisations. A peer analysis will help us in understanding the nature of business of the two companies and help create a portfolio which would distinguish the difference between the various profitability ratios of these versatile companies. Decomposition method for the various profitability ratios would be used in order to determine the financial and operating leverages both the organisation are able to use. For any organisation its profitability stands on two basic pillars which are ROA (Return on Assets) and ROE (Return on Equity) A detailed reformulation of the income statement, balance sheet and key ratios of both the organisations helps us in studying the both the sustainability as well as diligence of the earnings of the organisations, their fundamental differences in accordance with their financial perspectives as well as their P/E ratio (Price to Earnings Ratio). Beaver and Morse (1978) and Penman (1996) have shown that P/E ratios, while definitely linked to prospective earnings growth but they are also found to be negatively connected to present earnings growth, showing empirically that the P/E ratio can be found to be affected by transient current earnings. Ou and Penman (1989b) have found that even though one finds that accounting fundamentals might explain P/E ratios but that is done primarily be dredging data. The global and highly competitive worlds today assess the profitability of their competitors helps in determining the market power of the company. One finds that it is imperative for the any organisation to see that their returns not only help them cover the costs of replacing their assets but also any presence of excess profit year after year would lead to indication of existence of the high market power of these organisations as well as difficult entry barriers. METHODOLOGY Data Collection: All the financial data that has been collected for Burberry and GAP Inc. has been collected through secondary sources which include the internal resources of the organisations such as annual reports of the respective companies. Some external sources were also used for the collection of data which include online journals and articles, company websites, yahoo finances, previous researches on decomposition method and Thompson One Banker. The reformulated income statements and balance sheets for both the organisations range from five year period of financial statements from 2007 to 2011. The various profitability ratios on the other hand as well as the industry average for both UK and US have been considered for the last ten years 2002 to 2012. Literature Review Ball and Brown (1968) and Beaver (1968), are considered to have initiated the various studies towards the financial analysis of financial statements in terms of accountability, profitability and efficiency. In order to determining the profitability, strategies and the various risks associated with various organisations, one finds constant evaluation of the current performance and the financial position of the organisation both over the time as well as across various companies. One of the most elemental tools for financial analysis of any organisation is financial ratios. However in todays competitive dynamic world where profitability and maximisation of wealth are the underlining words classical financial ratios namely asset turnover, profit margin, financial leverage etc have lost their importance in a market based empirical accounting methods. Instead of traditional profitability analysis alternative methods such as Penman Method and Palepu Healy method are considered to be more accurate in determining the leverage an organisation can exert through their operations as well as financing activities. Several scholars, conspicuously Nissim and Penman (2001) have now attempted in developing a structural and significant approach to the analysis of financial statements of an organisation in relation to their financial ratio to equity ratio. They have identified financial ratios various school of thoughts have investigated different compositions for the valuation and profitability of an organisation by numerous scholars. Some of the major contribution in this research comes from Fairfield and Yohn (2001), Penman and Zhang (2004) and Soliman (2004). Traditionally in order to understand the leverage an organisation has, the measure of total liabilities to equity was enough. However there was absence of any scope of distinguishing the operating liabilities from financial liabilities. As a result, explicit equations were composed which would not only differentiate between these two liabilities but would also help in understanding the fact that whether leverage from any of the liability wo uld provide positive or negative result. Freeman, Ohlson and Penman (1982) in their work proved that in order to make predictable future earning probabilistic a person needs to consider one just single element that is the book value to the current earnings, where the earnings were found to be temporarily directly proportional to the book value. Higher earnings led to momentarily higher book value and vice versa. Forecasting earnings got further complicated with introduction of additional financial statement ratio Ou and Penman (1989a). Lipe (1986) showed that in order to improve income state forecasts the line-item analysis was more accurate. Fairfield Sweeney and Yohn (1996) reported similar findings. One finds that there have an arrays of different works which shows a lack of structure among the different literary works but the overall result has lacked in development of innovative practices. Penman and Nissim (2001) have identified various financial ratios such as leverage, RNOA (Return on net operating Assets) which are correlated to the market value of equity. They have based their methods on the model of residual earning valuation. Fairfield, Whisenant and Yohn (2001) related that the financial statement measures of growth to the estimation of diligence. Penman and Zhang (2004) on the other hand contributed in concluding that the use of RNOA helps analysts in forecasting stock returns to almost two years later whereas only one year future stock predictions can be found out by using the traditional asset turnover and profit margin. Soliman (2004) on the other hand studied the various market reactions to key financial ratios. One finds a lack of study in the field that explains how analysis of financial statement would assist in determining the P/E ratios. Molodovsky (1953) gave the Molodovsky effect according to which P/E ratio has been found to be affected by transitory current earnings. Similar studies were obtained by Beaver and Morse (1978) and Penman (1996) for the variance of P/E ratios. Conventional profitability ratios, i.e. ROE fails to reveal a wide array of questions such as how profitability is linked to operating activities in the organisation or how the taxation has impacted the profitability. ROE is also ambiguous in providing an answer whether sustainable growth can be achieved by any organisation or whether profitability can be increased by better asset management. For a better understanding for the above all questions decomposition of the various financial ratios has become important. ROE typically explains how profitability it employs assets and also explains the organisations assets base in accordance to the shareholder investment. Traditionally in order to remove these conflicts, ROE was decomposed into three elements, SPREAD, ROA and financial leverage so as to compensate for both operating (ROA) and financial leverage (SPREAD, financial leverage) so as to obtain the core profitability of the organisation. One of the ways of conveying ROE is ROE ÃâÃ ¼ÃâÃ ROA ÃâÃ ¼Ã ¢Ã¢â ¬Ã ¹ Financial leverage ÃÆ'Ãâ- SPREAD (1) Or ROE = ROA ÃÆ'Ãâ- Financial Leverage (2) Where, Financial Leverage = total liabilities/equity capital While calculating FL, the numerator is total liabilities where it is including liabilities from both the financial and operating liabilities. ROA = EBIT/ Total assets One finds that while calculating ROA, the denominator is total assets which includes all types of assets which includes both operating and financial activities whereas ROA focuses on operating activities hence is called as a driver for operating factor. Similarly, if we use SPREAD, since it is calculated by subtracting r from ROA, and already ROA is not differentiating between operational and financial activities SPREAD calculation also becomes inconclusive. The above results show how important it is to reformulate the income statements and balance sheets and then decompose the various financial ratios so as to obtain a correct figure for the profitability of the organisation. Methodology In order to determine the profitability of Burberry and GAP Inc. we will be using Penman Decomposition method of profitability which supports the theory that while calculating the profitability of any organisation it is important that the financing factor as well as the operating factors are analysed separately. This would help in absolving the traditional difficulties or problems of accounting the profitability of an organisation. Reformulation of the income statements and balance sheet of both the companies are done in order to distinguish the incomes that come from operating activities while those that are derived from the financial activities. Profitability is calculated both for operating activities and financial activities separately and both the leverages (operational and financial) are then explained in order to obtain the overall profitability for the shareholders. According to Penman method, ROCE = RNOA + FLEV X SPREAD (3) ROCE is Return on Common Shareholders Equity which is Penmans equivalent to the profitability of the organisation. ROCE corresponds to the traditional ROE for profitability. One find that ÃâÃ ¬ÃâÃ nancing debt levers ROCE. Where, ROCE = CNI/CSE (4) (Acronyms as used in Penman Paper) CNI equates to Comprehensive Net Income (CNI) and CSE is Common Shareholders Equity (CSE) or Common Equity (CE) which is equal to the equity capital. One finds that both the numerator and denominator are being affected by the leverage but which has been absolved by the reformulated financial statements. CSE can be calculated from the balance sheet CSE = Net operating Assets Net Financing Debt (5) CNI = OI- NFE (6) Operating Income (OI) cannot be found in standard income statement. Its value is derived by subtracting operating revenues (OR) from operating expenses (OE). In the normal income statement, operating income is calculated by subtracting operating expense from the gross margins. Operating income is produced through operations activities whereas the net ÃâÃ ¬ÃâÃ nancial expense (NFE) is incurred in the ÃâÃ ¬ÃâÃ nancing of such operations activities. It should be noted that all calculations for the net financial expense/income or the operating income of an organisation are done after tax. ROCE can also be expressed as ROCE = RNOA + FLEV X SPREAD (7) Where RNOA = OI/NOA (8) Net operating Assets (NOA) helps in distinguishing the financing factors from the operating factors. It is calculated by subtracting operating leverages (OL) from operating assets (OA). RNOA calculates the profitability factor on the basis that only the assets used in the operations should be taken into consideration. It is seen that the value of RNOA becomes higher if the operating liabilities of an organisation in relation to their operating assets is higher but it is based on the assumption that the numerator of the RNOA has no effect on the operating income of the organisation. Alternatively, RNOA = PM X ATO (9) Profit Margin (PM) and Asset Turnover (ATO) where, ATO = Sales/NOA (10) FLEV = NFO/EC (11) Net Financial Obligation focuses on the financial liabilities of the organisation and can be obtained by subtracting financial assets (FA) from financial obligations (FO). Equity Capital (EC) talks about the capital arranged through equity by the firm. While calculating FLEV it is seen that it includes the financial assets which are the net against the financing debt but excludes operating liabilities. FLEV comes out negative when an organisation has financial assets much larger than their financial liabilities. It is FLEV which eventually shows which profitability of the organisation is due to financial activities and which are due to operational efficiencies. SPREAD = RNOA- NBC (12) Where, NBC = NFE/NFO (13) Net Borrowing Cost (NBC) represents the r of the traditional method of profitability. NFO has already been calculated in equation (11) whereas Net Financing Expenses (NFE) is obtained by subtracting Finance Revenues (FR) from Finance Expenses. SPREAD can be favourable (positive) or unfavourable (negative). P/E Ratio = Price of Share/Earnings (14) A comparison of the above financial ratios of both Burberry and GAP Inc have been done in order to demonstrate which firm is profitable than the other. There is also the comparison of both the firms within the country where they are listed. Brief Introduction of Burberry and the Economic Conditions it operates in Burberry was founded in the year 1856 by Thomas Burberry in Basingstoke, United Kingdom. It is primarily a leading global luxury brand house whose roots can be found in the British heritage. The global luxury sector in which Burberry operates has been largely estimated at a approximately 160 billion pounds. Burberry largely deals in designer clothing, fashion accessories and licensing fragrances which are designed, manufactured and market by them. Burberry is both listed and headquartered in London and is considered to have one of the most recognised icons in the world, with its Prorsum horse logo, trademark check and the trench coat (Burberry 2011a). Burberry uses a much diversified range of networks for its global distribution through wholesale, retail, digital commerce as well as licensing channels. It has been granted status of royal warrants and its trench coats are one of the worlds most famous iconic design. Currently Burberry is distributing its produces, in Americas, Asia Pa cific and Europe through a three way means, precisely by channel, by region and by product. According to their annual reports, the total revenue for Burberry for the year 2011 stands at 1857 million pounds an increase of 24% from the last year. The primary revenue is generated through their retail enterprise of approximately 1270 million pounds. Their wholesale enterprise has generated 478 million pounds in the last fiscal year. There are five core strategies which the management of Burberry intends to follow in the current year Burberrys five core strategies. The company already has an average space growth rate of 14% in their retail sector and aims at expanding at a similar pace both in new markets as well as older markets. In order to remain ahead of the competition, Burberry encourages tremendous design innovations so as to uphold their tradition of having a compelling wide array of products. Burberry as a brand continues to rise because of it backing by some of the most forward assessing digital marketing in the customer sector. IN order to build and strengthen it foundation more powerfully, there has been an active efforts by Burberry of increasing their presence in the new luxury markets such as Japan, China, India and Brazil. The company further aims in seeing that their operating activities are more efficient (Burberry 2011a). A look at the Burberry group reveals that the success of the company is riding on its wide and highly diversified geographical presence and networks along with their strong branding. Burberry is finding a lot of growth opportunities with the increasing opening of avenues in the form of emerging markets where these luxury fashion goods are in increasing demand as well as the increase of internet penetration both in emerging and developed economies helping the company in establishing its presence in online retail. Fashion retail has been referred as a typical consumer goods sector where some it common characteristics can be defined by the fickle every changing consumer preferences, a product with a very short life cycle, not only having various competitors but also numerous retail alternatives. The entry and exit barriers are relatively easy and one finds abundant manufacturing and marketing techniques in the (Richardson, 1996) Currently Burberry is facing an extremely challenging external environment where the aftershocks of recession of the European market can be seen in the overall performance of the company. Less disposable income, discretionary spending on luxury goods, easy to substitute and weak efficiencies are some of the factors which is plaguing the company for a long time. Burberry is also struggling maintaining customer loyalty as in todays highly competitive globalised world one finds that the consumer preferences are changing constantly and companies are finding it difficult to retain their consumers. The fashion industry is seeing changes in the trends which are much faster in nature and there is always a risk associated that the consumers might like the new entrants better than established luxury houses(Burberry 2012a). Luxury fashion houses have been almost immune to the global financial crisis in comparison to other industries primarily because they were able to sustain their profitability due increase in revenues from Asia pacific region specially China. But one sees that even in these rising economies are now being bogged down and their economic growth rate has seen a considerable decline from their progress for the last three or four years. Burberry has posted revenue of 408 million pounds for their quarter through June in 2012, which one sees that is slightly below the 416 million pounds forecast by analysts. Burberry had seen a astronomical 34% growth rate in their first quarter in the year 2011 while the gain for the first quarter in 2012 is has come down sharply to 11% in terms of constant currencies. 38 percent of the revenue of Burberry has been accounted by the Asia pacific region in the previous year of 2011. The overall growth of the company has also seen a fall from 67 percent last ye ar to a meagre 18 percent in the current year. One finds that the company in addition to the above economic situations is also dealing with the natural disaster in Japan and the slow recovery of the US market from it recession (Burberry 2012). Burberrys operation activities are considered as some of the highly inefficient in the industry. They not only lack a proper vertical integration but also almost all their activities have been outsourced. The company is still finding integration in the retail business in rough weather even though it is trying to increase its presence. The company scores high in its low transactional exchange exposure and its licensing agreements in Japan and other countries are providing them with high return on their invested capital. One of the major risk associated with Burberry is it high dependence on the high end apparel segment for their overall profitability figures which faces enormous fashion risk and has a high chance of being copied (CSFB Research 2011). Brief History of GAP Inc. and Economic Conditions it faces The GAP Inc. was founded in the year 1969 by Donald G. Fisher and Doris F. Fisher is a global speciality apparel American company. Currently the company offers clothing, personal care products and accessories for men, women and children under the retail store method with approximately 3076 stores worldwide out of which it has almost 2551 stores in US alone. Gap is headquartered in San Francisco, California, United States and is listed in the New York Stock exchange. Gap currently operates in US, UK, France, Japan, China and Canada. Gap currently operates through five different brand names, precisely, Athleta, Banana Republic, Old Navy, Piperlime and the namesake GAP (GAP 2011a). IT is interesting to note that even though GAP is a public listed company yet it is largely a family controlled business. GAP operates under two segments; one is the flagship retail store outlets and the online platform which is practised both internationally and domestically. The second segment is the franchise agreements through which it runs stores in Asia, Africa, Australia, Eastern Europe, the Middle East and Latin America. As a result it operates in almost 90 countries. GAP has generated 14.5 billion dollars in the year 2011 with its net income standing at 833 million in the same year (GAP 2011a).
Friday, May 15, 2020
Even by the U.S. Postal ServiceÃ¢â¬â¢s (USPS) own recently lowered standards, mail delivery has become unacceptably slow, according to a federal inspector general. In fact, the number of letters being delivered late has increased by 48% in the 6 months since January 1, 2015, USPS Inspector General (IG) Dave Williams noted in a Management Alert sent to the Postal Service on August 13, 2015. In his investigation, IG Williams found that, Ã¢â¬Å"Mail was not being processed timely throughout the country.Ã¢â¬ Why Is the Mail Slower? On January 1, 2015, the Postal Service, in yet another attempt to save money it doesnÃ¢â¬â¢t have, lowered its own mail delivery service standards basically allowing mail to be delivered over a longer period of time than before. For example, where 2-day delivery of First-Class mail had been required before, 3-day delivery is now the acceptable standard. Or, Ã¢â¬Å"slowÃ¢â¬ is the new Ã¢â¬Å"normal.Ã¢â¬ Ã [ Postal Services Losses by Year ] The move also paved the way for the Postal Service to go ahead with the closure of some 82 mail sorting and handling facilities across the nation, an action 50 U.S. Senators had recommended against. Ã¢â¬Å"The impacts on customer service and employees have been considerable,Ã¢â¬ Williams wrote of the lowered delivery standards and facility closures. The IG also noted that the delays had been Ã¢â¬Å"compoundedÃ¢â¬ by two other factors: winter storms and employee scheduling issues. Ã¢â¬Å"Postal Service management stated a large number of winter storms disrupted service from January through March 2015, particularly for mail requiring air transportation,Ã¢â¬ wrote the IG. Ã¢â¬Å"Additionally, winter storms shut down highways on the East Coast and closed a contractorÃ¢â¬â¢s hub in Memphis, TN, delaying mail across the country.Ã¢â¬ As a result of the reduced delivery standards and facility closures, over 5,000 postal workers were assigned new job duties and were forced to change from working night to day shifts. This required staffing realignments and training of mail processing employees on new jobs, creating an inefficient workplace, according to the IG. How Slow is the Mail Now? IG WilliamsÃ¢â¬â¢ investigation showed that letters classified and paid for as 2-day mail took at least three days to arrive from 6% to 15% of the time from January to June in 2015, a service decline of almost 7% from the same period in 2014.Ã Five-day mail got even slower, arriving in six days or longer from 18% to 44% of the time for 38% service decline since 2014. Overall, during the first six months of 2015, 494 million pieces of mail failed to meet delivery time standards, a late delivery rate 48% higher than in 2014, investigators concluded. [ Door to Door Postal Services Might Be a Thing of the Past ] Remember when local First-Class letters were usually delivered the next day? Well, the Postal Service eliminated that service in January 2015 in preparation for its mail-handling facility closures. For all classes of mail, the new Ã¢â¬Å"relaxedÃ¢â¬ delivery standards have allowed the Postal Service one extra day to deliver as much as 50% of all mail traveling outside the Zip Code in which it was mailed, according to the IGÃ¢â¬â¢s report. Despite the predicted, but highly unlikely demise of Ã¢â¬Å"snail mail,Ã¢â¬ Postal Service statistics, show that the USPS handled 63.3 billion pieces of First-Class mail in 2014. Of course, that was 34.5 billion fewer pieces of mail than the 98.1 billion letters handled in 2005. In 2014, a focus group representing a cross-section of postal customer, told Postal Officials they would be willing to accept lowered delivery standards if it meant saving the Postal Service. Be careful what you ask for. What the Inspector General Recommended While noting that mail delivery times had improved recently, IG Williams warned that the level of service is still not where it was during the same period last year. To deal with the issue, IG Williams recommended the Postal Service put its plans for a second round of mail handling facility closures and consolidations on hold until it had corrected its staffing, training and transportation problems related to the lowered delivery standards. [ Back When You Could Mail a Baby ] Postal Service officials disagreed with the IGÃ¢â¬â¢s recommendation to put the facility closures on hold until delivery problems are solved. In May 2015, Postmaster General Megan J. Brennan put a temporary hold on further facility closures, but did not indicate when or under what conditions they would resume.
Wednesday, May 6, 2020
First impressions are everything. When people hear this phrase, many will often associate it with meeting new people. However, this concept can just as easily be applied to literature. Authors put great care into how they describe a character or a setting because the reader has nothing but words off of which to base their perception. This can be problematic if the author is not able to create a compelling enough picture in the readerÃ¢â¬â¢s mind, but it can also be used to the authorÃ¢â¬â¢s advantage, often by tricking the reader with their words into believing something, and then revealing it to be the opposite. This story, Ã¢â¬Å"Lien,Ã¢â¬ was created with the intention of exploring the way people perceive reality and how they decide on the true nature of their surroundings, which is accomplished through the use of geographical concepts, intertextual examples found in famous fictional pieces, and descriptive language. In the overall narrative, the main character is lost and is trying to find his way back home. Both he and the readers are never supposed to be sure if he is awake, dreaming, or a little bit of both, which relates to the uncertainty and tricks played by the unconscious, both of which are brought up by the movie, Inception. In this movie, the subject of a dream often does not realize that he is in one, which is a concept the authors of the overall narrative are trying to imitate (Ã¢â¬Å"InceptionÃ¢â¬ 2010). In the process of trying to return home, the protagonist ends up at inShow MoreRelatedLakeside Auditing728 Words Ã |Ã 3 PagesExercises Exercise 1 Following his discussion with Rogers, Andrews talked briefly with Carole Mitchell concerning the warehouse expansion. She indicated that Art Heyman had already prepared an analysis of the repairs and Maintenance account (see Exhibit 9-4). 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Results from this research are better discussed in this report. I would be very please to discuss this research report and its conclusions with you at your request. Thank you for your confidence in selecting me to present to you
America entered World War One in 1917. America and the President, Woodrow Wilson, were horrified by the destruction that had taken place in such a humane part of the world. The only way to avoid a repeat of such a disaster was to create an international committee whose purpose was to prevent wars by maintaining world peace. This would be the task of the League of Nations. Woodrow Wilson was the creator of the League of Nations in his Fourteen Points Speech. This was ironic because the United States failed to join the League of Nations. This can be seen in the US delegations in Paris, the Congressional election of 1918, Article X, Wilsons conflict with republican senators and his problem with compromising, the Americans that didnt agreeÃ¢â¬ ¦show more contentÃ¢â¬ ¦Wilson made a compromise whereby Japan kept Germanys economic holdings in Shandong and he said he would return the peninsula to China at a later date. The Chinese were outraged. Wilson realized that all of these compro mises caused for injustices in the League of Nations, but he was hoping that this League would even out with good for America, which would have strong say in the League. When he returned home to get final say from America he was again hit hard by the senators. Wilson felt that strong support from Congress, especially in the senate, would be important with bargaining with European powers in the upcoming negotiations. The voters elected republican power in Congress in the Congressional elections of 1918. Wilson had enjoyed majority in both houses for his first two years in congress so in October of 1918 Wilson issued an appeal to the voters claiming he wanted to keep a Democratic majority in the both the senate and the House of Representatives. The Republicans became very angry saying that they had actually been more supportive of Wilsons war plans than his own party had. The voters responded with a fifty-seat majority in the House and a two-seat majority in theShow MoreRelatedWoodrow Wilsons Reasons to Die a Disappointed Man Essay1497 Words Ã |Ã 6 PagesWoodrow Wilsons Reasons to Die a Disappointed Man It is said that Woodrow Wilson died a disappointed man after presidency where he failed to complete his aims; his last defeat was when America had to decline entry from the League of Nations, which was his last aim even though it contradicted his original aims. He started his presidency with the aim to keep well out of world affairs; he even went as far as to say It would be an irony of fate if my administrationRead MoreWoodrow Wilson Presidency : Election Of 19121080 Words Ã |Ã 5 Pagesof the United States of America with 435 electoral votes to 88 electoral votes for Roosevelt and only 8 electoral votes for Taft. 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In accordance with this, many on the opposition believe it is necessary to create legislation that protects Americans from the ICC and allows the U.SRead MoreWoodrow Wilson s Vision For A League Of Nations1321 Words Ã |Ã 6 Pagesshaped how he would help foreign nations. Through the proposal of the 14 point speech on new methods to dispute in worldwide affairs peacefully, and the immediate rejection by the senate, his legacy was brought in the creation of foreign countries who unite peacefully to diplomatically dispute. In relevance to time, the freshly established Soviet Russia, imposed a different view that conjugated that by the one declared by Wilson. The vision for a league of nations was conceived by the horrifyingRead MoreAmerica, An Ever Changing World Superpower1504 Words Ã |Ã 7 Pagesand this caused trade ships to become targets for German U-Boats. The American government was still very hesitant to join the fight against the Central Powers. 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Over the past 10 years, Indian population has risen by 220 million people, reaching an estimated 1,22 billion in 2012. The effects of this population increase are evident in the increasing poverty, unemployment, air and water pollution, shortage of food, health resources and educational resources. With India as an example we will discuss Malthus, the population growth theory and see if Malthus theory was maybe mistaken in the past but has some valid aspects today. Thomas Malthus was an English priest and economist who lived during the late 18thÃ Century.He is famous for his theories about population and its increase or decrease in response to various factors. His thought was influenced by living conditions of that period: the first negative effects of Industrialization and growing urbanization appeared. This caused an increase in poverty and unemployment, which made it necessary for the government to introduce the so called Ã¢â¬Å"poor lawsÃ¢â¬ , guaranteeing a minimum income to every person. We will write a custom essay sample on Population Growth or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Malthus defined two types of checks to population growth: preventive checks and positive checks.Preventive checks are those that affect the birth rate and include marrying at a later age. He also called these Ã¢â¬Å"moral restraintÃ¢â¬ . So Malthus stated that a family should not have any children before they cannot make sure that they can supply their kids. According to Thomas Malthus, positive checks are those, that increase the death rate. These include war, plague, disease and famine. Malthus felt that the fear of famine or the development of famine was also a major impetus to reduce the birth rate.He indicates that potential parents are less likely to have children when they know that their children are likely to starve. His theory was wrong because Malthus only considered two factors when he established his basic graphs: food supply and population growth. Other factors such as improvements in technology proved him wrong. Malthus wrote during an historical turning point because the Industrial revolution changed the long-term outlook for economic growth. However, nearly two centuries after Malthus, the overall quality of life has significantly improved. Because of scientific and technological advances in agriculture, food production has become much more efficient as population has increased. Smaller areas of land can now produce great amount of food that was once unimaginable in MalthusÃ¢â¬â¢ period. By the way, innovations have allowed mankind to find more efficient methods of energy use. For this reason, we can affirm that Malthus underestimated technologyÃ¢â¬â¢s role in agriculture production and overestimated the problem of population growth. Malthus was not only wrong in his prediction of the development of the economy, but also in his prediction of the demographic development.He assumed that population will continue to grow in a geometrical ratio as time goes on but as the Industrial revolution continued in Europe the growth of the population started to slow. Also Ricardo predicted that these two aspects about the growth of population are wrong in his theory. The limits of innovation are unknown if even boundless but throughout our history, humans have been able to adapt to whatever population or environmental change. For this reason, we can maintain that MalthusÃ¢â¬â¢ population growth theory was wrong looking at India situation.Overpopulation is a growing problem throughout the world at this stage in time. Currently, the world population has crossed over the six billion mark and is on an exponential path upwards. We well know that overpopulation and population growth places a tremendous amount of pressure on natural resources, which result in a chain reaction of problems as the nation grows. Negative effects of population growth and, specifically, overpopulation include poverty caused by low income per capita, famine, and disease: India is a prime example of Thomas MalthusÃ¢â¬â¢ theory of population growth and its effect on the economy.It is a country plagued by poverty, primarily caused by overpopulation. Inhabited by over 1,2 billion people, India has a population of three hundred million under the poverty line. A majority of the poor population is unemployed, starving, and is being forced to beg on the streets to make ends meet. In theory, more people may mean a country can produce and consume more goods and services, leading to economic growth. But this can only occur when employment opportunities grow at least as fast as the labor force and when people have access to the necessary education and training.The overwhelming element in the theory is Malthusian diminishing returns to labor, as the stock of capital does not increase in the same proportion as labor does. Rising population promotes the need for some sort of technological change in order to meet the rising demands for certain goods and services. Therefore, the technological advancement that accompanies the growth of population and the expansion of population, allows for even more population to survive due to the rise in o verall outputs by the business and the nation as a whole. Thus, it generates demands for goods and results in overall economic growth. The rising population provides a supply of labor and contributes to the increase in output of goods. Through Indian fiscal policies and the rise in the education among citizenÃ¢â¬â¢s, India was able to generate a high employment which led to an increase in the output of goods and services. Yet, there still is a rising problem in India concerning poverty and malnutrition. But, through the theory that population growth has a positive effect on economic growth, India will prosper in the long run.In the end, India, has become one of the worldÃ¢â¬â¢s fastest growing economies, primarily due to the rise in population growth creating a positive effect on its long run economic growth. India is now ranked one of the top producers in agriculture and is a top nation in terms of GDP in a developing country. In many cases, economists are correct in saying that population growth has a positive effect on economic growth of a nation. In reality, economists might say, If it werenÃ¢â¬â¢t for its high populations India would still be a suffering developing nation. Words number : 1006