Crime in Brave New World: What Constitutes Crime?

The novel Brave New World by Aldous Huxley was a satirical book that criticized human trends and created, according to the present course of human development, an ideal society, where everyone belongs to a particular social class which they are unable to escape.In this regulated society, certain aspects of life are considered sinful, and regarded as crime, and are forbidden from even being brought up in social settings. But one of Huxley’s most serious crimes in his novel is that of family loyalty. The Utopia and its PoliciesThe scenario described in the book was that of a utopia, but it was only so in that everyone adhered strictly to certain policies. There was little freedom, or room for rebellion or even modest social exploration in this scenario, as such engagements could challenge the state, which endeavored to keep everything in place. This meant to appease the state, everyone would have lead a bland life with little social freedom and hardly any civil liberties, and th ey were to perform the duty the state had given them.The future society, which in this book takes place in London during the year 2540 AD, is built around certain ideals which are represented time and again by the conformation of people to the ideology created. Crime as Something that Contradicts State Informal crime is represented by anything that goes against the ideals of the society.The society is The World State, where everything is peaceful and coordinated, so long as everyone follows their given life directions (which are actually more like instructions, or restrictions on anything other than what each was intended to do).The state is stable as everyone works in accord with it, but doing so means that everyone must realize basic social restrictions, which, in the actual world, would often be privileges. Conformity and tacit and constantly expressed consent to this society are imperative parts of its existence, as it draws from every person within it.The World State’s C onformity Requirement, and Assembly Line Structure The World State uses a definite class system, and from young ages, children are taught to except the given class they were born into, as it was best for them.In the novel, the year the book takes place in is the â€Å"year of our Ford, 632,† which is taken from the Ford motor company and its assembly line technique. This technique is applied to the public in The World State, as everyone is supposed to do their part, and not doing so, or exploring any alternatives to someone’s given and directed path of life represents that person’s committing a crime. Anything that could challenge conformity, or this assembly line lifestyle is crime in this society.Sexual exploration, or even talk of such taboos as pregnancy and drugs are examples of crimes, as they are mentally stimulating, which seems to be the basic component of all crime. But the biggest crime might be adherence to family. Families inevitably create loyalty. This takes the loyalty of the individual to the state away, and gives it to other individuals. Alliance is wrong, because alliance represents loyalty to some entity other than the state, which only exists by collecting everyone’s undisputed loyalty.Savages: Those who Manage to Break Away or Avoid the Restrictive State â€Å"‘Wanted to have a look at the savages. Got a permit for New Mexico and went there for my summer holiday. With the girl I was having at the moment. She was a Beta-Minus, and I think’ (he shut his eyes), ‘I think she had yellow hair.Anyhow she was pneumatic, particularly pneumatic; I remember that,’† Huxley’s director stated at one point, illuminating the fact that people who have and exercise free will, and do as they please by living outside of the Utopia, are savages (chapter six section two).At the same time as he is explaining his trip to the savage reservation, he is designating aspects of The World State, as the girl he is describing was not actually he daughter, but only implemented by the state to be so. She was predestined to follow his line of life.Instead of natural pregnancy, citizens of the utopia use pregnancy substitutes, which are medical procedures that impregnate women without the assistance of men. The closest thing to any sort of rebellion citizens of The World State have access to is the drug soma, which intoxicates in a sort of technical way.There are no dangerous side effects, and this makes it somehow conform with the ideal society. Breaking Away from and Taking from the Brainwashing Society: The Ultimate Crime Because the society described in Brave New World is one where societal brainwashing (usually exercised by sleep education, or hypnopaedia) is commonplace, people believe that the state is best for them. Alternatives to the state are therefore commonly discouraged, although education can ultimately allow freedom from this restricting society, and allow people to enj oy aspects of the peaceful life of savages.â€Å"Education for freedom must begin by stating facts and enunciating values, and must go on to develop appropriate techniques for realizing the values and for combating those who, for whatever reason, choose to ignore the facts or deny the values,† Huxley wrote in Brave New World Revisited, in chapter eleven (1958). But because the society taught the same values to everyone according to their class, education beyond those values was considered an act of rebellion, and was therefore deemed criminal.Such education allowed for people to recognize, and possibly embrace loyalties to entities other than The World State, which would lead to the destruction of the state. And even basic loyalties, such as those amongst families or friends, took some of every individual’s allegiance to the state, which, in Brave New World, constituted the most serious of crimes, discouraged by the state by expulsion from a not so perfect utopia.Bibli ographyHuxley, Aldous. Brave New World. New York: Harper & Brothers, 1946. Huxley, Aldous. Brave New World Revisited. New York.

PHP vs. ASP Essay

Introduction PHP and ASP are the two best web technologies this century is to offer. In their own ways, they have created trust and market for their product and development environment. Anstey (2003) mentions that PHP belongs to a free software community and open source general purpose software which is very easy to use and correct its bugs from the community of developers around the world. ASP is a program that runs on IIS server and is a free component with windows operating system and offers various features (Argence, 2008). ASP.NET is a unified Web development platform that provides services necessary for developers to build enterprise-class Web applications. ASP.NET provides programming model and infrastructure for more secure, scalable, and stable applications. ASP.NET is a compiled, .NET based web environment developed in any .NET compatible languages like Visual Basic .NET, C#, JScript.NET, etc. Additionally, the entire .NET Framework is available to any ASP.NET application. Developers can easily access the benefits of these technologies, which include the managed common language runtime environment, type safety, inheritance, and so on. The foundation of all Web applications is that they deliver dynamic content over a protocol which by model is stateless. Most of the ASP.NET developments fall in client-server architecture programming model. Minimal points to be considered for a typical web application modeled as client-server architecture are given below. User interface and client environment (Page layout). Data verification, transfer and store. Security. Scalability, reliability and availability of the application. Optimized resource utilization and performance. Handling unpleasant instances gracefully. Navigation. Literature review PHP traces back to the development of Perl and C which emerged quite successfully as a result of the contribution of the various programmers around the globe and as a result of its being an open community. The various versions came out successfully through 1997 to 2004 where the features were added and successfully taken up to cater to the development paradigm of the large scale of internet users. ASP came handy with Windows 95 with the features of IIS server installed. It was an established standard which takes into account the various databases into consideration and is based on the COM model. The various differences among PHP and ASP make sure that all to a good extent the feature are compiled and carries enough advantage to understand the loopholes and make sure that all the various utilities are enforced well.   PHP and ASP depict large scale differences in the form of various factors like cost, integration of features, speed, platform compatibility, additional costs, base language, database connectivity and many others. Cost: As PHP is not single handedly owned by any individual or an organization it does not requires to be purchased for use. Even for the support of the backend, it uses a database technology named MySQL which is also available free of cost (DuBois, 2002). The hosting of the PHP pages into the Linux server and their deployment is quite affordable and can be done with ease. Glass (2004) mentions that ASP is synchronized with Microsoft Windows operating system and comes along with it bearing the cost of the operating system. Moreover hosting ASP pages is expensive over the internet and features like email, file uploading and other features are quite expensive at the same time. Integration with operating environments and databases: PHP makes sure that all the operating environments are taken care to its fullest capability and is compatible with Windows, UNIX, Linux, Solaris and others. Its platform dependency format makes sure that all the various compatibility with operating environments makes it quite viable in nature. PHP integrates with the databases like MySQL and others in a great fashion. ASP on the other hand is compatible with Windows only and makes sure that Microsoft oriented databases like MSSQL server would be well integrated with it. For other database platforms it requires to download various libraries and components for integration and workability (Hull, 2002). Performance: PHP is an interpreted language and make sure that the interpreted nature makes it fast for getting the customization done. The memory requirement of the PHP pages is quite optimizable and runs very fast with the greater understanding of the various features. Database connections of PHP are also quite flexible and make sure that all the various database functionality like stability, transactions, replication, triggers and stored procedures are handled quite well (Merrall, 2000). ASP on the other hand is a compiled language and the software glitches are quite often not corrected or take a long time to get it done. The compiled nature makes sure that all the various factors like throughput and response time is quite low for the hosted pages. Its exclusivity with Microsoft windows operating system makes it platform independent with regard to various hosting and access problems. Enhanced capabilities and compatibility: These include file transfer programs and utilities, compression of data, uploading of files, integration of XML an MD5, encryption techniques and email facilities are not included in ASP, even if it does it requires the support of large third party packages installed, which are very easily integrated in PHP. PHP.net (2008) mentions that complex functions like dynamic images, IMAP, SNMP, dynamic flash, PDF, native access to Oracle, Ovrimos, Postgre, Sybase, mSql, MSSQL, Ingres, Interbase and Informix databases, LDAP, and sockets and many others are easily integrated with PHP, however it would create a big problem with its integration with ASP. PHP is compatible with various web servers for its functioning however ASP requires it to be easily integrated with only IIS and PWS as explained by Pires (2005). Conclusion   Although both ASP and PHP are web server end languages for web development, it makes sure that the factors like cost, installation, performance, compatibility issues are economized to its full   extent. PHP offers the best integration of the speed and performance factors and make sure that all the various promises are met for catering to the web development (Zhang, 1999). ASP is most suitable with the Microsoft platform and makes sure that all the features are captured and managed for the various services. References Anstey, Marty (2003). PHP vs ASP. Retrieved 19, February 2008 from http://marty.anstey.ca/programming/php/articles/ Argence d Ricardo (2008). Web Hosting, PHP vs AS.P. Retrieved 18, February 2008 from http://articles.topofhosting.com/web-hosting-php-asp.php DuBois, Paul (2002). MySQL Cookbook. O’Reilly, October 2002. Glass, Michael (2004). Beginning PHP, Apache, MySQL ® Web Development. Wiley Publicizing sons. ISBN: 0-7645-5744-0. Hull, Sean (2002). PHP vs. ASP.NET Redux. Retrieved 18, February 2008 from http://www.oracle.com/technology/pub/columns/hull_php2.html Merrall, Graeme (2000). PHP/MySQL Tutorial PHP.net (2008). See: http://www.php.net/manual/en Pires, Halstatt (2005). ASP vs. PHP. Retrieved 18, February 2008 from http://www.webpronews.com/expertarticles/2005/12/22/asp-vs-php Zhang, Ying (1999). Web Database Step-by-Step Guide.

Reporting Practices and Ethics Paper Essay

Financial management is very crucial in today’s health care financial procedures. It is one the most important aspects of the financial health care. There are many assessments made- based the financial records and the business transactions that occur within the health care organization. It is crucial the financial records are kept up- to -date and they follow specific guidelines. The books kept up- to- date and in order, this will show the amount of money being brought into the organization for profit and the amount of money the organization has lost in profit. One thing that may cause the honesty of the organization to be on the brinks is the organization financial management and the correctness of the financial books. This paper is about information that will address financial reporting practices and ethics. It will address four financial management functions, summaries that accept accounting principles by generally accepted accounting principles (GAAP). It will also give an example from an article that has reflected ethical standards of conduct and financial reporting. The basic four components of financial management are planning, controlling, organizing and directing and decision making. The preparation is responsibility for financial management to recognize the purposes of the health care organization. The planning step is to â€Å"set directions and allocates resources, the organizing step brings people and material resources together in working condition, the leading step inspires people to best utilize these resources, and the controlling step checks that the right things happen, in the right way, and at the right time† (Lombardi, Schermerhorn, & Kramer, 2007,). Controlling is the process of the financial management to ensure that each department of the organization are going by the procedures that was decided. The financial manager should have the reports available to study the most recent financial reports. The reports will help to select what department needs the most consideration to keep the organization going. Organizing and directing is the responsibility of the financial manager to decide in what way to make use of the funds of the organizations most efficiently. Resources such as assets will help the manager to ensure the goals of the healthcare organizations are accomplished. Directing is an everyday job provided that control and support. The final step in the element in financial management is decision making. Planning, organizing, and controlling is a correspondence with the decision making process. The choices will be by the financial manager based on evaluation, analysis and information. Generally accepted accounting principles is a set of financial recommendations used for financial accounting. The recommendations are for preparing financial statements and for setting standards for organizations accountants. According to Baker (2011), â€Å" One of the requirements of GAAP is that unrestricted fund balances be separated from restricted fund balances on the statements, so you see two appropriate line items (restricted and unrestricted) in the fund balance section† (p. 108). GAAP are the rules of accounting. Those guidelines are to arrange the reporting of financial statements that will include the cash flow statements, income statements, and the balance sheet. With the reply of these responsibilities, the Organization of Managing Bookkeepers declared principles of moral conduct for employees of managing bookkeeping and financial management. The principles take account for confidentiality, integrity, and competence. A person must maintain knowledge and the necessary skills is what includes competence. They must always maintain their professional responsibilities and duties in accordance with related rules, technical standards, and regulations. Confidentiality when one should not disclose confidential information, such as health records except when given the right authority to do so. Integrity has the responsibility not to engage in activities that would affect prejudgment, favors that will influence their actions and decision making. According to† Ethical Standards† (n. d),â€Å"Specialists of managing bookkeeping and monetarist managing partake an commitment to the community, their line of work, the institute they work for and themselves, to uphold the utmost principles of decent manner. Hewlett-Packard Company CEO, Mark Hurd turn out to be mixed up in the workplace. According to (Healthfield, 2012), â€Å"Mr. Hurd had failed to disclose a close personal relationship he had with a contractor that constituted a conflict of interest† . †Mr. Hurd also â€Å"failed to maintain accurate expense reports, and misused company assets. † This is an example that reflect ethical standards of conduct a nd financial reporting practices. Practicing accuracy end honesty will help continue the capacity to never misuse the financial systems, and abide by the laws laid out by GAAP. Organizations are providing their employees with the necessary training that will equip them as well as sustain the reporting practices operational but at the time use the similar procedures and show them new procedures. Fraud and abuse is something everyone know when being ethical. By using the GAAP guidelines, keeping the organizational ethics and policies would be free from abuse and fraud. By following the guidelines that comes from the GAAP, they can help prevent fraud and abuse from happening in the health care organization itself. These guidelines are there to help the organization benefit so they will always be ready in case there may come a time when they have to show their financial documents to a third party. Therefore in conclusion, it a major responsibility in financial reporting practices and ethics. Financial managers should implement the four elements of financial management in their reports to avoid fraud, abuse and the risk of breaking ethics. Managers should know how to plan, control, organize and directing and decision making. They should always incorporate the GAAP rules and regulations in order to avoid unethical rulings.

The aspects of inclusion on the children with the special needs Essay

The aspects of inclusion on the children with the special needs - Essay Example The term ‘inclusion’ has been driven into different layers; it is different from segregation, integration, and mainstreaming. In its general sense inclusion is â€Å"the philosophy and practice of providing learning opportunities for all children according to their needs† (Inclusive Practice: Study Guide, p.6). Inclusive practice takes into account all the children and the learning activities are arranged in satisfying the various needs of the children. For Lesley Lyons each child has the â€Å"fundamental right to be a part of a family, a community and a society that will enrich their lives and be enriched by the presence of theirs† regardless of their similarities and differences (Lyons, 2005, p.16). Similarly, National Association for the Education of Young Children considers inclusion as embodying â€Å"the values, policies, and practices that support the right of every infant and young child and his or her family, regardless of ability, to participate in a broad range of activities and contexts as full members of families, communities, and society (Early Childhood Inclusion, 2009, p. 2). The benefits and challenges of inclusive practice for all involved The Child: Inclusive practice places the children with different needs together and it is framed in accordance with their needs. Inclusion allows and facilitates the overall growth of a child. As the course is in accordance with the needs of the child, it is highly result oriented.

Ethics and the Impaired Employee Essay Example | Topics and Well Written Essays - 500 words - 9

Ethics and the Impaired Employee - Essay Example This study highlights that after Beverly states that she had four young children at home and had no other provider in the household to assist, the supervisor should have realized that Beverly’s drinking problems were likely a product of a stresses involved with single parenthood and the constant financial struggle which being a sole provider can create. For example, there are many psychological theories of motivation which suggest that an individual must have a sense of security as well as a sense of belonging within an organization in order to achieve maximum workforce performance on the job. Beverly is likely experiencing lowered security because of her financial situation and likely feels that her long-term sense of importance within the organization is being threatened by such a strict focus on policy and compliance. By highlighting all of her problems, rather than discussing the reasons behind the problems, the supervisor in the case study is isolating Beverly from the re st of the organizational staff and sending the message that she is deeply troubled. This discussion highlights that what Beverly required was for the supervisor to be more empathic to Beverly’s needs and attempt to find out what might be creating the psychological motivation to drink. Addressing the issue from a different angle would likely have prevented Beverly from committing suicide. For example, the supervisor could have asked whether there were problems with colleagues or with the organizational structure itself, creating the opportunity for Beverly to be more open and honest about what was really going on with her impairment issues. The supervisor should have set a positive interpersonal environment right from the beginning where it was illustrated that the supervisor and the organization is concerned about the well-being of Beverly.

Team Communication Essay Example | Topics and Well Written Essays - 250 words - 1

Team Communication - Essay Example Sometimes happens that the leader is not aware of members` interaction and decision making, which also results in loss of status of the leader. It is extremely important for a team to hold regular meetings on which every member would have a chance to speak out. A leader`s assertiveness, clarity, and the ability to hear each team member will prevent tension and frustration. It is crucial for the team members to have the same understanding of the direction and the processes in the team. A leader must be able to set clear goals and analyze the stage of their achievement. One of the most difficult moments of the team work is dealing with problems. Sometimes certain conflicts or problems appear due to bad performance of one of the members. A good leader will be able to address the problem without pointing to the person. Drawing too much attention to the failure of a team member as well as concealing it is not the best practice as it can result in depression.In my schools, most leaders sup port participative leadership style, which means that they consult with a team before taking important decisions. I find this style to be the most relevant and effective. If there is much evidence that the team leader is not capable to control, direct, and manage the team the members have to voice their complaints and in some cases choose another leader.Therefore, keeping constant contact with team members, setting direct achievable goals, and solving the conflicts efficiently will make team work successfully.

Defending the minimum drinking age Essay Example | Topics and Well Written Essays - 1250 words

Defending the minimum drinking age - Essay Example who had served as a president in a college previously. McCardell formed an organization named Choose Responsibility in the year 2006 but this organization and his efforts gained fame mainly in the year 2008. McCardell pushed for the fact that the age of drinking should be reduced to 18 and he claimed that this would provide for far more benefits than the existing law (Cloud 2008). McCardell’s stand has been opposed by many health professionals as well as community welfare organizations that support the society of Mothers against Drunk Driving and they uphold the advantages that this existing law has brought forward with the assistance of different researches and statistics (Dean-Mooney 2008). The legal age of drinking which is 21 years of age has been indicated to be one of the best policies of the United States of America owing to its success and the subsequent reduction in the car crashes as well as the reduction of deaths and other negative effects due to excessive consumpt ion of alcohol. The age of legal drinking which is set to 21 years of age has been supported by health experts. The issue of teen drinking has been a part of the society of the United States since the nineteenth century and this problem has been linked with social as well as health issues amongst the teenagers. It hampers the normal development of an individual if started at an early age and results in problems of the nervous system. The years of teenage are important owing to the fact that these years are essential for the proper development of the nervous tissue and in particular the brain. The consumption of alcohol in these years results in alteration of the normal cells of various parts of the brain which include the forebrain and the hippocampus. This affect results in altering the normal memory of these teenagers and their performance in studies decreases. Their ability of coordination and

Why death penalty should be abolished Essay Example | Topics and Well Written Essays - 750 words

Why death penalty should be abolished - Essay Example Being humane is a question we put on the limelight in discussing the death penalty. Those who are in favor of the punishment for heinous crimes cry for the safety of the majority, arguing that it is far better for men to extinguish a criminal’s life than put innocent lives in danger as they are exposed to possible criminal acts by the individual. It could be true that lives are endangered as we let criminals live however, the prison cells are created for them to recuperate lost trust and integrity. Death penalty kills not just the human body but the chance to become better as well. We do not just stand as judges before the convicted felon but as the killer of his hopes and dreams. Even criminals have the right for such. Pataki (52), as mentioned believes that the death penalty is not a source of crime deterrence so what is there to argue about? Are we not imposing the death penalty in the hope that people with inclinations to heinous crimes would think twice if not a hundred t imes and decide to do otherwise? Ending a criminal’s life is not the solution to ending heinous crimes because if that were the case, then we should have a crime-free world these days for the many lives the death penalty has claimed. Nor will it assure the safety of the innocent, otherwise we can now all go out in peace, free of the worries that nothing and no one can harm us and yet circumstances show us the naked truth that the system has never been successful in achieving its objectives. The argument that life begets life with the death penalty being an act of self-defense is totally erroneous not only because of the aforementioned point of view but that because history shows that not just a handful of convicted felons have been put to death so unjustly. I state my stand on the death penalty on the basis of my agreement with Lang’s (2011) philosophy that there is a chance, and may I add a humungous chance that a person may die because of being wrongly convicted. Let us not close our eyes to the fact that there are piles of evidences to such injustice. Michael Lang (2011) in his article mentioned the injustice suffered by Michael Blair and Charles Hood. Evidences presented in court showed that he did not commit the crime accused against him but that was after fourteen years of being in death row. Imagine the psychological and emotional torture the thought of dying for a crime he did not commit has caused him, not to mention the wasted fourteen years of his life, the records that could be used against him and the after-effects of the mental torture he survived in the jail. That part of his battle may to us seem over, but to Blair, his battle continues as he tries to live a normal life after more than a decade in prison which I reckon can never actually be normal again. The hope then for us is that, the system did not create a criminal out of him now that he is freely moving among us. Hood on the other hand is still on his journey that Blair trod and our cry for him is that he will be given the justice he deserves in the hands of the judge and prosecutor who admitted to having an illicit sexual affair (Lang). Things can never be said to have been better for the aforementioned examples but looking at the cases of mentally retarded people convicted of crimes they did not commit is far heart-breaking than any other case like that of Tony Chambers and Jerry Penry representing their fellow victims (Robinson). Chambers has at his age was expected to have an intelligence quotient of 100 but was found to be between 50-63, the IQ of a six-year old. Penry on the other hand was proven to have been mentally disadvantaged since he was a child triggered by the abuses of his mother; he was accused of murdering a twenty year old woman in 1979. Could such people still threaten us of an escape plan so that we claim to be protecting ourselves from the possible damage they can still cause? What about their right to live? Would it not be too mu ch for us to kill not just innocent but

Business and Professional Communication Essay Example | Topics and Well Written Essays - 750 words

Business and Professional Communication - Essay Example Unlike boys, girls master how to negotiate in a manner that balances their personal needs with those of their peers from childhood. The lessons that people learn during their childhood usually infiltrate into the workplace (Tannen 140). Women tend to use collective pronouns such us â€Å"we† in scenarios where men us â€Å"I†, which makes men most likely to get credit in the workplace for their work. As such, linguistic approach, including pronoun selection determines who gets acknowledged (Tannen 140). Men emerge very insightful of power dynamics when communicating, always attempting to be the ones who control the communication process. On the other hand, women are more accustomed to respond sturdily to relationship dynamic. They often focus on saving other people’s faces (141). One’s mode of speaking reflects who they are and who they aspire to be (Tannen 141). The verbal behavior of an individual determines his or her confidence level. Studies indicate that females are prone to downplaying their certainties whereas men have highest probability to diminish their doubt (Tannen 142). Gender interplays with cultural and individual characteristics in determining one’s propensity to ask questions. Men are less likely to ask questions compared to women because they always want to be one-up (Tannen 142). Societal culture makes conversation a ritual by dictating how individuals speak. The likelihood of a person to get hired depends on the level of his or her ritual o pposition (144). Besides actual authority, which comes from one’s organizational rank, actual authority relies on one’s ability to negotiate effectively. The negotiation skills and power determines the effectiveness of a manager (Tannen 145). Tannen emphasizes that â€Å"people in powerful positions are likely to reward linguistic styles similar to their own† (146). An effective manager needs to be familiar with all communication dynamics in order to

How the company combine to satisfy shareholders and the demands of Dissertation - 1

How the company combine to satisfy shareholders and the demands of society with no impact on the profitability - Dissertation Example Through these two elements, the reality of the global market, of virtual realities and faster access and exchange of information are realized (Brooke et al., 2004; Chandra, 2008; Soros, 2002; Suarez-Orozco & Qin-Hilliard, 2004), creating a vision of a better world across the globe. However, in 2007, the world has been hit by global economic crisis, which has led to serious difficulties in the lives of ordinary people (Roth 2009; Yandle 2010). The global financial meltdown has put into limelight the relationship and responsibility of businesses to the society as the economic crisis has been precipitated by excessive risk taking of businesses and masking its dangerous actions through, corporate philanthropic, activities (Bordo, 2008; Lin-Hi, 2010; Reinhart, 2008). The notion of economic institutions having social responsibilities has been widely discussed in the past two decades (Campbell, 2007). This coincides with the fact that also in the last two decades the influence and power of corporations have grown due to global presence of multinational corporations and trans- national corporations, which pave for more jobs and resources, higher standard of living and better social conditions (Uccello, 2009). Nonetheless, it should be noted, that the idea of economic institutions of being responsible not only in fulfilling their fiduciary responsibilities to the shareholders, but also satisfying the public interest and stakeholders demands have been proposed already as early as the 1930’s (Hemingway, 2002). As such, the concept of corporate social responsibility is not something new, but it has long been recognised that corporations have responsibilities towards, employees, shareholders, consumers, local communities, natural environment and other stakeholders (Hemingway & Maclagan, 2004; Zolsnai, 2006). However, due to the global financial crisis the urgency to look into the purpose and relationship of economic institutions (businesses) in the society becomes ne cessary. The global financial crisis has concretely shown that actions of corporations are not happening in a vacuum, but it has a direct effect not only to the shareholders but also to all stakeholders (Lin-Hi, 2010). In this regard, this research will look into how company combines satisfaction of both the shareholders and stakeholders and on how this can be measured. The research will be mainly dealing with corporate social responsibility; however, the research will attempt to provide alternative insights regarding CSR because the study will be conducted with the experience of the global financial meltdown as its beacon. The experience demands that CSR be re-understood with clearer parameters and measures that will assist people and stakeholders as attempts are made to further clarify the purpose and relationship of businesses in the society. 2. LITERATURE REVIEW In the literature review, current trends and discussions regarding corporate social responsibility (CSR) will be prese nted. The discussion will cover three sections. The first part will be dealing with the nature of CSR, while the second part will be touching on the apparent relationship among CSR, shareholder satisfaction and profitability. Finally, the third part will be about the means undertaken to determine the impact of CSR. To be able to embark on a discussion, the research has conducted a library research. The electronic databases Academic Source Complete, Business Source Complete, Jstor, Google Scholar, PsycheInfo and ERIC have been searched using a

Examine the key principles related to risk management and discuss its Essay

Examine the key principles related to risk management and discuss its theory associated with the role of the Advanced Scrub Practitioner - Essay Example 3). Principally, risks can be managed and averted with proper communication between members of the surgical team, as well as other clinical teams. The ASP is required to be able to notice unusual occurrences in surgical patients. Surgeons must have clinical privileges to perform surgeries so as to avert risks. ASPs must be on the lookout for risk factors such as surgeries on the wrong patient, medication errors, and performance of the wrong procedure among other risks. ASPs are also expected to have an inspection checklist to be used before surgical procedures and before anesthetizations because of the risky nature of these procedures (Youngberg 2011, p. 343). Principles of risk management associated with the role of ASPs include pursuing every surgery with accurate precision, following all surgical guidelines to the letter, and careful documentation of a patient’s history, physical examination results, and follow up plans. The ASP should assist the surgeon in ensuring that the rest of the surgical team complies to these principles in order to avert risks. ASPs also need to stick to protocols and not take anything for granted so that the chances of risks can be lowered (Osuch & Bonham 1994, p. 272). Rezaei, F, Yarmohammadian, MH, Ferdosi, M & Haghshenas, A 2015, ‘Principles of risk management in surgery departments’, Archives of Clinical and Experimental Surgery, vol. 4, no. 3, viewed 1 November

The different stakeholders Essay Example for Free

The different stakeholders Essay Introduction In this task, I will be talking about the different stakeholders of the two organisations. I have chosen the two organisations are the Harris Academy Peckham and Tesco’s. I will introduce with this two organisations and explain what are their stockholders, listing the internal and external stakeholders and describing their stakeholders. Harris Academy Peckham Introduction Harris Academy Peckham is one of many Academies under the Harris federation. Harris Academy is a not-for-profit charity with almost twenty five years’ experience of primary, secondary and sixth form education in and around London. This charity was created by Lord Harris of Peckham. He and his family take an active interest in every Harris Academy, supporting the Academy financially and with their time. Sponsors Harris Academy Peckham is sponsored by Lord Harris. He wanted to give good education to children in London, and he want to give full education from primary to sixth form and he started GCSEs and A-Levels in Harris Academy Peckham but the Harris Academy Peckham is government funded and they appoints head teachers in school to take over and run properly and they are government bodies. Government Harris Academy Peckham is a non-profit organisation. Harris Academy Peckham is funded by government because is a public sector and it’s kind of a charity. The Harris Academy Peckham get fund by the government for the student’s education and with the help of government the school run because  school have to pay the wages of the teachers and others staff. Employee Harris Academy Peckham has enough employees to teach the students and the employees are very qualified and able to handle as many students. Harris Academy Peckham has employees their employees with good offering salary. Parents Harris Academy Peckham main customers are the person who’s leaving in the local area and the parents who’s in the local community. The Harris Academy Peckham is a secondary and sixth form school where the parents always were worrying about their children’s educations and them always looking for a better place where they can easily find a good school. Harris Academy Peckham has got lots a good community where the school have good number of students in the school. Tesco Introduction Tesco PLC is a British multinational grocery and general merchandise retailer headquartered in Cheshunt, Hertfordshire, England, and United Kingdom. It is the third largest retailer in the world measured by profits and second-largest retailers in the world measured by revenues. Shareholders and founders Jack Cohen founded Tesco’s in 1919 from a market stall in London’s East End. Over the year our business has grown and Tesco’s now operate in 12 countries around the world. An American Depositary Share (ADS) is a US dollar-denominated form of equity ownership in Tesco; it represents Ordinary Share on deposit in the United Kingdom (UK). Supplier Piloting Supply from Chain Impact Assessments with suppliers in China, Thailand and the UK, allowing Tesco and its suppliers to better understand their impact on the lives of factory workers and communities associated with the supply chain so Tesco can replicate successes, helping to support better jobs and working conditions. The Tesco also have the UK suppliers such as from the farm and others supplies. Tesco also have their own farms and where  they get some of the vegetables and other dairy product supplies. Government The government affairs team so they can engage effectively on political developments and policy formulation in Westminster and the devolved assemblies. Government team also help to check policy changing and delaying with, and also in other financing information. The government get lots of tax, NI income for their employee and other taxes from the Tesco’s Employees The Tesco operation in the UK is the largest in the group, and 310,000 employees. Tesco have various type of job for all kind of people and the Tesco employee part-time and full-time employees, and they have plenty of employees in their stores to help their customers. Customers Tesco have many stores in the UK. The Tesco have many customers and they have record for their customers by asking them to register and be a club member and with that help the Tesco have all information about the customers. The Tesco gives many discounts and offers to attract their customers and the customers also enjoy with the Tesco and customers have many choices to buy their groceries, home products and electronic products.

The economist expectation on inflation in Malaysia

The economist expectation on inflation in Malaysia Inflation in Malaysia is expected to remain low for the rest of this year due to weak exports and softer domestic demand. Malaysia is now experienced a deflationary pressure. Deflation is defined as a persistent fall in the average level of prices in the economy. In this case Malaysia is categorised as having a bad deflation. Bad deflation finds it source in the demand side of the economy. As the export trade and softer domestic demand is low due to lower oil and commodity prices, this will cause aggregate demand (AD) to decrease. A fall in AD will result in a decrease in the price level and a decrease in real output. Please refer to the diagram below. Diagram 1: Decrease in AD due to weak exports and softer domestic demand in Malaysia. Diagram 1 above illustrates the bad deflation situation. From the diagram above, we can see that AD shift to the left to AD1. A fall in the aggregate demand (AD) will result in a decrease in the price level from P1 to P2, and a decrease in real output from Y1 to Y2 . When there is less demand, businesses makes less profit or even loss. The producers need to cut down their cost of production by cutting down supply and lay off worker. Therefore, the level of unemployment will rise. This will affect economy badly. If more people are unemployed, their real income is low, thus their purchasing power will decrease, there will be even less consumption. This is proven from the article where it state that consumer price index  [1]  (CPI) in Malaysia dropped from more than 8% inflation in 2008 to two consecutive months to 2.4% in July 2009. This will lower the GDP (growth domestic product) level. Furthermore, the amount of investment from investor rely highly on their expectation of the economy climate for the future, if the consumer demand showing no improvement in the future, business confidence is likely to be low. Investor will refuse to invest in our country. This has negative implication for future economic growth. Deflation brought many impact on the producers, consumers and also the economy itself. In the situation of bad deflation, producer will faced with the risk generating low profit. This is because when the demand is low, it causes the price of product also low, they would not gain much profit and to ensure them not too loss too much, they will cut down the supply to increase the price back. They also tend to decrease the number of workers to save their cost of production. The consequences, of the producers actions are faced by consumers. When they are fired, their real income will remain low, hence, could not buy good as much as they want. Its indicates their purchasing power is low. And this illustrates the standard of living also at low level. Diagram 2: A decrease in AD and real output. These situations affect the economy badly. As we can see, in the Diagram 2, when the demand decreases from AD to AD1, price will also decrease (from P1 to P2) resulted in decreasing amount of real output from Y1 to Y2. To survive, producers tend to lay out workers to cut down cost of production. The unemployment level will increase. In the economy it is not good to have high level of unemployment as it will lower down the societys standard of living. Economic growth will decrease and economic development will be halted. From the explanation above, Malaysia should take immediate action to overcome bad deflation problems. Government could take actions such as by increasing the demand from consumer and increasing the aggregate supply. To increase AD, producers could promote their product by advertising or by giving a discount. The producer also could increase their workers income, as it can make them more motivated to works and produce high quality of product that meet the consumers taste. In a way, this could increase the aggregate supply (AS) as well. Government also could change to expansionary fiscal policy where it could encourage greater consumption by lowering income taxes to increase disposal income. Another way is by lowering the corporate tax so that firm could enjoy higher after-tax profit. The chances of them to lay off worker will be decrease. Therefore, the rate of unemployment will decrease. This is the best solution after all. (750 WORDS) ABSTRACT This article is about the economist expectation on inflation in Malaysia. They expected that inflation in Malaysia to remain low. There are several factors that contribute to this condition. First, it is due to weak exports and softer domestic demand because of lower oil and commodity prices. This condition is called deflation. There are two category of deflation; good deflation and bad deflation. As one of the Asia country, Malaysia experienced bad deflation. A fall in aggregate demand will result in a decrease in price level and a decrease in real output. If real output decreases, then it is assumed that the level of unemployment will rise, as firms will need fewer workers if there is less demand. Asian country has come out with several ways to overcome this problem. However due to some weaknesses. Only one method, which is investment liberalisation, would be the effective method in order to revitalized Malaysias economy and helps increasing the inflation rate.

Mental Health of Canadian Indigenous People

Mental Health of Canadian Indigenous People Author: Sarah E. Nelson, Kathi Wilson Journal: Social Science and Medicine (2017) This article focuses on the literature in relation to mental health of the indigenous people in Canada. Indigenous people contribute to 370 million of the worlds population spread over more than 70 different countries (WHO, 2007) and are known by different names all across the globe. It is strongly believed by many scholars that an unequal burden of mental illness is being carried by the indigenous people all around the world. According to a number of studies it has been seen that colonialism and the process associated with it play an important role in determining the health of indigenous population internationally. This study was carried out since not much research has been done on the mental health of indigenous people in Canada. Something that connects the indigenous people all around the world is the experience of colonialism even though the experience and the history differ greatly in various location and indigenous population. Health issues such as infant mortality, high incidences of acute or chronic pain, and injury have been associated by the international literature with social inequalities like poverty and racism emerging from colonialism. It has been indicated by research around the world that we should be careful when concluding about the occurrence of mental illness without taking into account the colonial process. Studies related to the mental illness of indigenous people in Canada like elsewhere is being taken up by settlers who follow colonial and non indigenous concepts and epistemologies. They also raised concern about the fixity of colonialism in health care system, which creates a problem for the indigenous people who need health care services especially for mental illness. The aim of this study was to identify the extent of research on mental health of indigenous people in Canada, find out the gaps which may exists in the studies whichÂÂ   have been done, and determine the extent to which mental health research is representative of indigenous populations and geographies in Canada. This study was carried out in 5 stages. First, the research question was identified followed by finding out studies relevant to it, selecting them, collecting the data, and combining and summarizing the results. Studies were collected from 11 data bases and 2 indigenous- specific journals. The articles were grouped under social determinants of mental health, mental health services, prevalence of specific type of mental illness, mental health promotion, mental health research and the impact and effect of colonialism on mental health of indigenous people. Out of the 223 selected articles, majority of them emphasized on the different sides of colonialism as a factor of mental illness which exhibited the colonial plan in policy decision. This study does not include the grey literature. Excluding such literature might led to overlooking at important strategies which may be practiced by various organizations. However the authors of this article believe that the 223 articles reviewed in this study give a gist of the research being carried out on indigenous people in Canada. Colonialism is a major issue addressed in this study in relation to mental health research. The term colonialism is used to indicate the effect of colonialism rather than the structure itself. This can lead to misinterpretation of the term and cause a narrowed understanding. Interactions with different aspects of colonialism by the indigenous people vary and it is important to maintain this diversity and deal with it accordingly even though they all share the common effect of colonialism. There are only a few interventions which are culturally accepted. It is therefore very important to look deeply into the interventions and mental health programs wh ich are beneficial and accepted by the indigenous community. When seeking help for mental treatment they feel stigmatized and when is it accompanied by racial discrimination and experiences of colonialism, it becomes even more difficult for the indigenous people to get them self treated. It is important to evaluate which programs and mental health practices are favorable for various indigenous groups. This article has immensely broadened my view and knowledge about the mental health of indigenous people not only in Canada but all over the world. The huge effect of colonialism is not restricted to an individual but passes on from generation to generation. Culture plays a very important role in maintaining the health equity in different populations. The side effects of colonialism can be minimized by analyzing it as a cultural problem rather than a political, social or economic affair. Even in the 21st century it is sad to know that the indigenous remain extremely aloof from the mainstream society even though they are the origins of their respective place. Article 2 Author: Luke Allen, Julianne Williams, Nick Townsend, Bente Mikkelsen, Nia Roberts, Charlie Foster, Kremlin Wickramasinghe. Title: Socioeconomic status and non-communicable disease behavioural risk factors in low-income and lower-middle-income countries: a systematic review Journal: The Lancet Global Health (2017) This article focuses on the socioeconomic status and non-communicable disease behavioural risk factors in low-income and lower-middle-income countries (LLMICs) which comprises of 39 countries. One of the objectives of the Sustainable Development Goals (SDGs) is to reduce the premature deaths caused due to non-communicable diseases (NCD) by a third by 2030. The mortality rate due to NCD is reducing by 1.8% in Brazil per year because of the spread and extension of primary health care. Thus it can be seen that the premature deaths due to NCD can be reduced to a significant amount by implementing government policies which focus on reducing behavioural risk factors. (WHO, 2007) 70% of the global deaths occur because of NCD. The relation between socioeconomic status and non communicable diseases is well understood in the high income countries but how behavioural risk factors are spread among the low-middle- income countries remains uncovered. This article aims to review systematically the relation between the socioeconomic status and harmful use of alcohol, tobacco, unhealthy diets and physically inactivity in LLMICs. For this study, 13 databases were looked into. The studies that were included were from LLMICs showing data on various measures of socioeconomic status and use of tobacco, alcohol, diet, and physical activity. The exclusion criteria included studies that restricted equating between more or less advantaged groups. Age or language was not the criteria for exclusion of a study. A narrative way for data synthesis was used due to high heterogeneity. 4242 records were reviewed out of which 75 met the assigned criteria which comprised of 2135314 individuals, who were older than 10 years of age. This study was carried out in accordance with PRISMA and Cochrane guidance. Studies included in this review were of moderate to high quality having a cross-sectional and survey based approach. After systematically reviewing the records, it was found that the low socioeconomic groups had a higher prevalence of tobacco and alcohol use and low intake of healthy diet when compared with the high income gr oup. On the other hand, less physical activity and more consumption of processed foods were seen in people form high socioeconomic group. The socioeconomic indicators that were used were income, wealth or assets, state defined poverty, literacy, education, occupational status and class, caste, job seniority, and researcher defined socioeconomic status. This was the first systematic review conducted within LLMICs which analyzed the socioeconomic distribution of all 4 major behavioural risk factors. Using this broad range of socioeconomic factors enabled the researchers to find a significant difference between casts, classes, sexes, occupational groups, and educational strata. Looking at the dietary findings, there was a direct relation seen between the socioeconomic status and intake of healthy diet. Low socioeconomic status group consumed more amount of processed food in high income setting and the opposite was seen in the LLMICs. Coming to physically activity, it was seen that rural low socioeconomic groups work in jobs which require more physical activity in LLMICs. In cities, this relation in reversed. As the study is heterogeneous, it needs careful interpretation and the findings cannot be seen as absolute. Because of the huge data collected it was difficult to reach to the depth of each risk factor. More than half of the countries classified as LLMICSs were not seen in their search results and this was a major finding as well as a weakness. Half of the studies were in relation to India which proves to be high quality evidence but these results cannot be generalized to all the LLMICs. Hence it is necessary to conduct more research to find out if the results found in this study are true even where close observation does not take place. Strategies which are implemented by the policy makers and national development agencies in areas where the premature deaths occurring due to NCD is more, should be evaluated to check if they are appropriate to their setting and should implement their plan accordingly. The government can play an important role by improving the rate of literacy, standa rd of living, income along with the heath conditions as it is clearly seen that the low socioeconomic conditions are related to non communicable risk factors. Even though data is not available for all the LLMICs, appropriate and immediate action should be takes for countries where data is available. References: Nelson, S. E., Wilson, K. (2017). The mental health of Indigenous peoples in Canada: A critical review of research. Social Science Medicine. World Health Organization. (October 2007). Media centre: health of indigenous peoples. Retrieved from http://www.who.int/mediacentre/factsheets/fs326/en/ Allen, L., Williams, J., Townsend, N., Mikkelsen, B., Roberts, N., Foster, C., Wickramasinghe, K. (2017). Socioeconomic status and non-communicable disease behavioural risk factors in low-income and lower-middle-income countries: a systematic review. The Lancet Global Health, 5(3), e277-e289. World Health Organization.( 2017).media centre: non communicable diseases prematurely take 16 million lives annually, WHO urges more action. Retrieved from http://www.who.int/mediacentre/news/releases/2015/noncommunicable-diseases/en/

Francisco Franco Essay -- essays research papers

Francisco Franco Francisco Franco was the dictator of Spain from 1939 to 1975, including the time of WW2. Perhaps he was better known as â€Å"El Caudillo,† translated into English as The Leader. He was born and raised in Spain. He was a very brilliant military general who led Nationalist rebels in defeating the Spanish government during the Spanish Civil War. Although he was viewed as a Fascist Dictator, he strongly opposed communism. He was an extremely important figure in the course of world history.   Ã‚  Ã‚  Ã‚  Ã‚  Francisco Paulino Hermenegildo Teodulo Franco Bahamonde, Francisco Franco as he was known, was born on December 4, 1892 at the coastal city of El Ferrel in the region known as Galicia in Northwestern Spain. He was close to his mother during his childhood. His father, older brother, and the four generations before him were naval officers. However, the Naval Academy was full so Franco went into the Army. He enrolled into Infantry Academy at Toledo when he was 14 and graduated three years later.   Ã‚  Ã‚  Ã‚  Ã‚  Franco quickly climbed the ranks of the Spanish Army. He gained a reputation of being a disciplined, honest, and dedicated soldier who was strictly professional. He was promoted to first lieutenant of an elite regiment when he was only 20 years old. He became the youngest captain in the Spanish Army in 1915 at the unprecedented age of 22. He then became second in command to General Jose Millan Astray of the Spanish Foreign Legion in ...

Irish Immigration To Canada Essay -- essays research papers

Irish Immigration to Canada The Irish began immigrating to North America in the 1820s, when the lack of jobs and poverty forced them to seek better opportunities elsewhere after the end of the major European wars. When the Europeans could finally stop depending on the Irish for food during war, the investment in Irish agricultural products reduced and the boom was over. After an economic boom, there comes a bust and unemployment was the result. Two-thirds of the people of Ireland depended on potato harvests as a main source of income and, more importantly, food. Then between the years of 1845 and 1847, a terrible disease struck the potato crops. The plague left acre after acre of Irish farmland covered with black rot. The failure of the potato yields caused the prices of food to rise rapidly. With no income coming from potato harvests, families dependent on potato crops could not afford to pay rent to their dominantly British and Protestant landlords and were evicted only to be crowded into disease-infested wor khouses. Peasants who were desperate for food found themselves eating the rotten potatoes only to develop and spread horrible diseases.  ¡Ã‚ §Entire villages were quickly homeless, starving, and diagnosed with either cholera or typhus. ¡Ã‚ ¨(Interpreting ¡K,online) The lack of food and increased incidents of death forced incredible numbers of people to leave Ireland for some place which offered more suitable living conditions. Some landlords paid for the emigration of their tenants because it made more economic sense to rid farms of residents who were not paying their rent. Nevertheless, emigration did not prove to be an antidote for the Famine. The ships were overcrowded and by the time they reached their destination, approximately one third of its passengers had been lost to disease, hunger and other complications. However, many passengers did survive the journey and, as a result, approximately  ¡Ã‚ §1.5 million Irish people immigrated to North America during the 1840 ¡Ã ‚ ¦s and 1850 ¡Ã‚ ¦s. ¡Ã‚ ¨(Bladley, online) As a consequence of famine, disease (starvation and disease took as many as one million lives) and emigration,  ¡Ã‚ §Ireland ¡Ã‚ ¦s population dropped from 8 million to 5 million over a matter of years. ¡Ã‚ ¨(Bladley, online) Although Britain came to the aid of the starving, many Irish blamed Britain for their delayed response and for centuries of political hardship as basi... ...t only a contribution to Canada, but to the benefit of humanity. „h Nellie Letitia Mooney Mclung(1872-1951) was an activist and a campaigner for female suffrage. She was a nationally known feminist and social reformer. Mclung was the first woman member of CBC ¡Ã‚ ¦s Board of Governor ¡Ã‚ ¦s and deserves great thanks from Canadian women for her contributions to the women ¡Ã‚ ¦s movement in Canada. „h Robert Samuel McLaughlin(1871-1972), the founder of General Motors, made significant contributions to the advancement of Canadian culture and society as well as to the Canadian economy. He was the benefactor of Queen ¡Ã‚ ¦s University, the city of Oshawa, Knox College, and the planetarium to University of Toronto, which still bears his name. He was also the founder of McLaughlin foundation, which has done much to improve the quality of medical education in Canada. (O ¡Ã‚ ¦Driscoll and Reynolds, pp.654) The Irish Canadian community has repaid their debt to Canada by proving themselves to be productive and showing to us that the hardship many Canadians took on in order to accommodate emigrants was worthwhile. Their gratefulness is evident in the reputations they have established as Irish Canadian citizens.

The Charmer By Budge Wilson :: essays research papers

â€Å"The Charmer† by Budge Wilson is a short story about a Canadian family that finds misfortune and conflict within their lives. Conflict being the predominant theme which directly affects all the participants in the family. The story is written in third person and narrated from the young girl Winifred’s point of view. Budge Wilson uses Zack’s smothered childhood, charming personality and irresponsible behaviour to create emotional conflict between members of the family. Growing up as a happy and popular young man, Zack creates himself a perfect reputation which left room for love and smothering from his mother and two sisters. His mother and sisters love him very much and show this love by being at his every beckoning. Winifred is no exception; the love for Zack is shown by the extraction, â€Å"How be you wash my bike for me, Pose, Love?† I would be halfway to the kitchen for bucket and rags before he stopped speaking. [And] I was Zachary’s willing slave. Slavery in fact, was a vogue in our house.†(Wilson,101). Zack from a very young age is overwhelmed with love and good deeds sent in his direction. He takes advantage of these kind gestures and never really appreciates what was being done for him. This lack of appreciation and constant smothering is noticed by his father at later stages in the story and creates a level of confliction between them throughout the story. His father makes the mistake of not saying anything about his disagreement with the way Zack is treated and allows the conflict to continue. â€Å"Even Dad took a long time to wake up. You wouldn’t think a fourteen – or sixteen-year-old-boy could hoodwink a father†¦ [And] Dad would just leave the room and go out to his work shed and sit and rock and rock in that old chair of his.† (Wilson,103). His father new there was a problem but did not act on it until the situation reached its climax which resulted in Zack leaving home. The problem is allowed to escalate at the time. The father does not play as big of a role in Zack’s life. Due to mothers love for Zack she allows him to get away with a lot of things that most mothers would not. One day she baked a cake for the church bazaar and left a sign warning nobody to eat it. She came home to find a slice gone and realised it was Zack that took the slice.

A Comparative Analysis of Moses

The biblical Moses and the Moses described by Zora Neale Hurston in her book Moses, Man of the Mountain, are both based upon the Exodus story, found in the second book of the Bible.Although the stories are similar in many respects, both concerned with the bondage of a people and their cries for a deliverer, who is found in Moses, the biblical Moses is firmly rooted solely in the Hebraic tradition, following the lead of the patriarchs, Abraham, Issac, and Jacob.Hurston’s Moses, however, although still a Hebrew, has a more universal appeal. He speaks in black colloquialisms, creating an extended analogy that can be linked not to the ancient Hebrews, but also to the oppressed blacks in America, and to the modern Jews who were savagely persecuted by Hitler and Nazism.The Exodus story concerns a male son born to Hebrew slaves. The midwives disobey Pharaoh’s command to kill all male newborns. Moses is hidden only to be discovered by none other than Pharaoh’s own daught er, who then raises him as her own son, who later discovers his   true identity and leads the slaves to freedom.   Moses’ life is divided into forty year segments: forty years in Egypt; forty years on the back side of a mountain; and forty years wandering in the wilderness.In Hurston’s version, more is made about race. The story discusses the idea of a â€Å"people† and their origins to a greater extent. Hurston slants the argument toward the idea of racial origins and perhaps origin more generally as the start of many of the evils of the world. She not only wants to create doubts about Moses’ pure origins, but also about the very concept that was prevalent during 1939 when her book was written: that of racial purity.As an anthropology researcher she understood racial divisions as idealized abstractions, even though they had concrete functions in the real world. Hurston explored race as a cultural creation rather than a biological fact. Her novel assu mes an even greater meaning as Germany, led by Hitler’s theory of eugenics-founded on the idea of racial improvement through selective breeding- started the world war in 1939.In the United States the eugenics movement was related to racist campaigns against European undesirables and blacks. Eugenics was thought to be necessary to produce a great race. Hitler’s goal was a Master race who guarded the purity of their own blood. By keeping race â€Å"pure,† exterminating Jews and Slavs were deemed   essential to that undertaking.(Hurston, introduction xii-xiv).The spectre of Nazism looms over the beginning of Hurston’s novel   as it starts  Ã‚  Ã‚  Ã‚  Ã‚   with the act of marking Hebrew male newborns for extinction. Parents, desperate for places to hide their children, become frantic that the police might get tipped off and come execute their child. In fact, Moses’ father is so fearful that he aims to kill the baby himself so that the police won ’t have that chance. Yet despite their terror, Moses’ mother is determined that he lives and hides him. In all this hoopla of extermination, the irony is   that there is plenty of   Hebrew blood in Pharaoh’s family already.â€Å"That is why he wants to kill us off. He is scared someone will come along and tell who his real folks are. The grandmother of Pharaoh was a Hebrew.† ( Hurston, 14).Besides his murder of male infants, Pharaoh is cruel in other ways. He denies citizenship to the Hebrews, relegating them to slavery. Yet in still another act of irony, Pharaoh ends up with a Hebrew grandson in Moses.As he grows older, Moses fights for inclusion of the Hebrews in the Egyptian army. But the Egyptians oppose him, remarking:â€Å"They are not citizens of Egypt, but enemy prisoners, and as such it would bbe rash to put arms into their hands again. Who knows when they might rise up and turn the tables?†

Effects of Europe’s Colonization of Africa Essay

Imperialism is the political, economic, and tender control by angiotensin converting enzyme country over other country. In the 1800s, more European countries began their imperialism of more or less of Africa. plainly when the Europeans were finally forced out, the government, economy, and kind intent were in ruins because a lack of appertain by the Europeans, and their hasty decisions.The Europeans ignored the social effects on the African sight completely. When the new borders of Africa were drawn at the Berlin Conference, of which no African heap had any input, the Europeans draw the lines according to what they wanted, and not what the African people had already established. The effect of this was that many cultural and sacred groups, and tear down or sotimes families, were disordered up, causing mass havoc and chaos. The Europeans also decided that they were going to implement their own religion into the African peoples. Many times, if an African resisted, he w ould be beat for his religious beliefs because he would not convert to Christianity.Mostly, this scarce angered the African people. Overall, there was but a total disregard for African life throughout the imperialism of Africa. Many Europeans had views that were contradictory. maven such example is Henry Morton Stanley. Although he claimed to accept the Africans, he often visualized them as childlike and nescient. However, he was the ignorant one, not realizing what he was saying. Maybe it was not that he did not realize what he was saying, but he was trying to pander one group, while portraying his trustworthy personality to another.The political wedges of imperialism are probably the virtually widespread. The way the borders were drawn has created several(prenominal) civil wars that mollify rage on today. The lack of concern on the Europeans set out created a huge worry when they go away they had made the borders so that previously belligerent tribes were placed i n the same place, creating havoc. Also, a few(prenominal) Africans had a strong governing function to begin with, and the leaders did not chicane how to deal with the economic mess, nor the social mess, because their friendship and resources were so limited. Another huge occupation was deciding who would be in power. This goes patronise to the civil wars and lack of concern on theEuropeans parts they had made the borders so that previously warring tribes were placed in the same place, creating havoc. This led to the economic and political problems that still exist in Africa today.Economically, the Europeans depleted many of the resources that Africa had. The countries went in, plundered what they wanted, and sold it to their home countries, with the Africans receiving none of the profit. This can be likened to someone discovering a gold coin in a neighbors blanketyard, but declaring that it was theirs because they found it. This wouldnt happen most places, but since the Europ eans were the ruling powers of the time, there was no one to stop them. But what resources the Europeans didnt completely plunder, they didnt teach the Africans how to in effect make a profit from them. The Africans relied on the Europeans for their economy, because before their ethnic and religious groups had been uninvolved, there was no need for an economy.But since the contrasting areas had been reestablished as countries with peoples within its borders that fought, one had to be established. The Africans had no knowledge of how to run an economy, and as a result, there is an economic problem that still exists in Africa today. The biggest economic impact on Africa was also a social impact. Slave trade. It is probably one of the most significant issues to ever be indite as history. The slave trade was the biggest performance of Africa by the Europeans. Seeing that the Americans needed custody for their large agricultural-based economy, the Europeans saw yet another economic road to riches. The Europeans thought of the Africans as inferior, and seeing that they could get ride of some of the resistance, they began to sell the Africans to plantation owners. This produced money for the Europeans, and separated many African families forever.Looking back on this problem, had the Europeans shown a little kidnapping more concern for the Africans and thought nigh the consequences of their actions, the social, economic, and political problems that exist today in Africa would be lessened or even non-existant.

Only the Strong Survive

The price of capital has increased.There is a big difference between the shipbuilding market of 2002 and 2013, however.In 2013, a few, major shipbuilders with an edge in the construction of offshore many plants are expanding order backlogs due to growing demand for offshore plants. We anticipate investments in offshore E&P projects will continue to rise, as we expect oil prices will remain high. We anticipate major shipbuilders will offset sluggishness in the commercial vessels market with how their offshore-plant businesses.Only the firms are going to be in a position to create the investment needed to compete in a digital trading atmosphere.[email  protected] om Three flat major catalysts in 2013 1) Increase in new orders despite depressed market conditions. 2) Improved cash flow and balance sheets. 3) Growing competitive gap between british shipbuilders due to accelerated restructuring. Historic low P/B presents attractive valuations We expect Korean shipbuilders will be abl e to maintain their competitive edge regardless of the depressed shipbuilding market.

Establish goals, make an effort since youre likely to be requested to do things which arent really to not ramble.We find Hyundai Mipo Dockyard (010620 KS/Buy/TP: W148,000) to be the best among shipbuilders that focus on mid-to-small vessels. We raise our target price on Samsung Heavy Industries by 5% to W46,200 to reflect its stable earnings and solid order flow; however, we downgrade our rating of Hanjin Heavy I&C (097230 KS/Hold) from Trading Buy to Hold. Three major domestic shipbuildersE cash flow and share performance (Wbn) 10,000 Avg. ash cerebral flow of major shipbuilders (L) Avg.Thus the liberty of everyone is the outcome of solidarity.Three major domestic shipbuildersE order trend and forecast (Wbn) 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 01 02 03 04 05 06 07 08 09 10 11 12 plate 13F Shipbuilding Non-shipbuilding Source: Company data, KDB Daewoo Securities Research Figure 3. KOSPI and shipbuilding stock index trend (1/1999=100) 1,000 KOSPI Shipbuilding stoc k index 800 600 400 200 0 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 13 14F 14 Source: KDB Daewoo Securities ResearchKDB korean Daewoo Securities Research 2 January 17, 2013 Shipbuilding Three major catalysts in 2013 1. New orders for major Korean shipbuilders to increase sharply In 2013, we expect major Korean shipbuilders will see sharp increases in new orders. Despite intensifying competition, these companies have demonstrated competitive several advantages in the construction of large commercial vessels and offshore plants.

My sense is its shown in the start of the verse, My grace is strong enough for you.In particular, we expect orders for certain high-priced vessels, including FPSO and LNG FPSO, to increase. 2.Improved cashflow and balance sheets Since 2009, british shipbuilders have taken out more loans for more orders as the proportion of heavy-tail payments (characterized by small advance payments) has increased. On a more positive note, however, we expect shipbuilder loans to decrease (thus improving cashflow) as these contracts are paid off toward late 2013.Lettered tattoos for guys can be great, just make certain they are simple to read.Second phase of restructuring to further consolidate industry We anticipate the shipbuilding market will remain weak due to the global economic downturn, logical and the tightening of ship financing. We project the current, still-surviving shipbuilding companies will aggressively seek new orders to strengthen backlogs. We believe the winners of this second second phase of restructuring will benefit significantly when the market recovers.Amid the current drop in vessel construction, the percentage of bulk carriers and tankers (out of total orders) has decreased significantly, while the percentage of megacontainerships and LNG carriers has increased.

Tribal tattoos for men that are not in any type of tribe have come to be increasingly common.Another risk factor is won appreciation, but at current levels, we believe risks are limited, thanks to Korean shipbuildersE technological edge, and dollar denominated payment for raw materials, which accounts for 40% of total raw organic material purchase. KDB Daewoo Securities Research 3 January 17, 2013 Shipbuilding Figure 4. Three major domestic shipbuildersE cash flow logical and share performance (Wbn) 10,000 Avg. cash flow of major shipbuilders (L) Avg.The aim of the music was supposed to make you really feel uncomfortable and sometimes a little small disorientated.7% 8 0 2008 2012 Source: Clarkson, press release, KDB Daewoo Securities Research Figure 6. Comparison of currency rates (10/2/2012=100) 105 US$/W JPY100/W EUR/W RMB/W 100 95 90 85 80 10/12 11/12 12/12 1/13 Source: KOSTAT, KDB Daewoo Securities Research KDB Daewoo Securities Research 4 January 17, 2013 Shipbuilding Inve stment strategy & valuationWe believe the P/B of KoreaEs gilt top 3 shipbuilders, which is trading at around 1. 0x, should rebound to 1. 2x, a level seen historically as the low, thanks to the aforementioned three major catalysts.

old Folks who make the decisions.nd Sembcorp Marine (Singapore companies specialized in offshore plant). In light of the ongoing eurozone crisis and unstable global economy, shipbuilding new shares are expected to trade between a P/B of 1. 0x~1. 3x.Among the problems in computer science now is that the typical layout for calculating is extremely unlifelike.Figure 7. Major shipbuildersE ROE, P/B trends (Market cap, Wtr) 4. 0x (%) 50 3. 0x 40 90 60 2.

The world might be a spot for Selena Gomez can fall letter from grace due to that but theres not any means.New order trends (US$bn) 30 25 20 15 10 5 0 03 04 05 06 07 08 09 10 11 12 HHI SHI HMD Figure 10. Order backlog trends (US$bn) 60 50 40 30 20 10 0 07 08 09 10 11 12 HHI SHI HMD Source: Company Data, KDB Daewoo Securities Research Source: Company Data, KDB Daewoo Securities Research Figure 11. Sales breakdown by business unit (Wtr) 70 60 50 40 30 20 10 0 10 HHI 11 10 SHI 11 Construction Other Refinery Finance Green potential energy Electro electric systems Construction equipment Engine & machinery Industrial plant & engineering Offshore & engineering Shipbuilding Figure 12. Hyundai Heavy IndustriesE P/B upward trend Market cap,Wbn) 42,000 35,000 28,000 21,000 14,000 7,000 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 13 3.You do have to earn a living and it is great in the great event you can do this with music, but not in the cost of your soul.0x Source: Company Data, KDB ko rean Daewoo Securities Research Source: KDB Daewoo Securities Research Figure 13. Samsung Heavy IndustriesE P/B trend (Market cap,Wbn) 14,000 12,000 10,000 8,000 1. 0x 6,000 4,000 2,000 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 13F 2. 0x 6.

Men have another reason behind choosing a mate.5x 6,000 2. 0x 1. 5x 4,000 1. 0x 2,000 0.Such men want the endurance to keep a high degree of combat readiness.0 Figure 18.EPS growth-P/E comparison (P/E, x) 20 Keppel 2. 0 Sembcorp Mitsubishi HHI 1. 0 Guangzhou Sumitomo giant Mitsui (ROE, %) 0.

It will happen once begun.6 Market EPS Growth (13F, %) 19. 1 P/E (13F, x) 8. 5 Market P/E (13F, x) 9. 0 KOSPI 1,977.There is simply no doubt.1 Foreign Ownership (%) 19. 6 Major Shareholder(s) Mong-Jun Jung et al. (21. 31%) Treasury shares (19.

Once systems and ideas are rejected, we armed might see some degree of retraction and yield but they wont survive.7 Relative -0. 9 -12. 6 -27. 1 One step back for twenty two steps forward ? ? ? Targeting orders of US$29.However, we expect the company to record robust orders in 2013, boosted by a pickup in the offshore/onshore plant market. The companyEs earnings how are anticipated to turn around in 2H13, while its cash flow should improve on massive orders and an increase in heavy-tail payments. HHIEs shares how are trading at a 2013F P/E of 8. 5x and a P/B of 1.In 2013, however, the company will be able to achieve its order target of US$29. 7bn in light of new its strong determination to revamp its business structure. 2) The company is anticipated to receive massive offshore/onshore plant orders.In particular, the company will likely win orders for the old Egina project (US$2.

4) Exports of construction equipment and ultra-high voltage transformers should also increase on recoveries in the US and Chinese economies. ) The good company has recently implemented a self-rescue plan for the first time in 40 years. While the number of applications for HHIEs early retirement plan (pushed through at end-2012) missed expectations, the company has subsequently carried out structural reform measures. We expect the companyEs long-term restructuring efforts to positively affect earnings going forward.7 3,782 6. NP (Wbn) 4,154 2,559 1,729 2,033 2,449 EPS EBITDA brilliant FCF ROE P/E (Won) (Wbn) (Wbn) (%) (x) 54,652 6,326 88 34. 5 8. 1 33,671 5,473 -504 16.1 8. 5 32,218 4,768 2,297 12. 2 7. 1 P/B (x) 2.9 EV/EBITDA (x) 6. 5 5. 3 8. 5 6.

8 12/12F 54,741 49,759 4,981 2,496 2,485 2,485 110 233 -240 2,595 766 1,829 0 1,829 1,729 100 1,568 1,458 110 3,469 -2,260 6. 3 4. 5 3. 2 12/13F 58,433 52,473 5,960 2,630 3,331 3,331 -448 248 -200 2,882 749 2,133 0 2,133 2,033 100 1,872 1,762 110 4,320 2,005 7.0 3. 9 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash Equivalents AR & Other Receivables report Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets Total Assets Current total Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests Capital Stock Capital economic Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 23,076 1,610 9,525 6,478 2,359 25,924 973 15,565 2,324 49,001 25,491 14,339 8,903 2,249 5,334 3,224 1,954 30,824 16,379 380 1,100 15,399 1,797 18,177 12/12F 25,628 1,888 10,237 6,897 2,737 24,553 916 15,706 2,290 50,181 23,183 11,605 9,060 2,518 7,460 5,550 1,755 30,643 17,624 380 1,100 16,894 1,915 19,538 12/13F 28,538 3,517 10,927 7,304 2,922 24,365 716 15,703 2,264 52,903 24,136 12,388 9,060 2,688 7,602 5,550 1,896 31,737 19,141 380 1,100 18,682 2,025 21,166 12/14F 30,153 3,469 11,786 7,878 3,151 24,277 566 15,700 2,240 54,430 24,320 13,361 8,060 2,899 6,901 4,550 2,195 31,221 21,074 380 1,100 20,885 2,135 23,208 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and great Expense Depreciation Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible total Assets Chg in Financial Assets Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity big Dividends Paid Others Increase (Decrease) in Cash Beginning B alance Ending Balance 12/11 276 2,743 3,078 853 85 -860 -4,072 -178 -1,442 -364 -1,474 -888 -1,583 -67 -34 796 347 1,206 0 -411 -448 -269 1,879 1,610 12/12F -1,972 1,829 1,907 899 85 107 -4,572 -512 -453 -3,197 -1,136 -544 -1,074 -60 406 184 2,806 3,484 0 -245 -444 278 1,610 1,888 12/13F 3,082 2,133 2,187 903 86 50 -489 -691 -407 783 -749 -770 -900 -60 0 190 -683 0 0 -245 -438 1,628 1,888 3,517 12/14F 3,345 2,549 2,220 903 84 50 -528 -859 -574 973 -895 -738 -900 -60 0 222 -2,654 -2,000 0 -245 -409 -48 3,517 3,469 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit economic Growth (%) EPS Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity high Ratio (%) Current Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 12/12F 12/13F 12/14F 7. 6 10. 6 8.7 5. 0 1. 3 1. 1 1.2 5. 2 33,671 22,750 26,750 32,218 46,009 35,699 39,772 45,203 203,367 220,183 240,492 266,237 4,000 0 4,000 4,000 9. 6 0. 0 12.

8 1. 8 43. 8 1. 9 6.5 10. 4 -18. 0 -45. 2 34.6 20. 4 5. 9 6. 0 6.2 8. 3 4. 1 4. 8 5.

1 4. 8 16. 7 10. 2 11.0 11. 2 169. 6 156. 8 150.2 124. 0 40. 8 45. 3 34.6 9. 2 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities further Research 9 January 17, 2013 Shipbuilding Samsung Heavy Industries (010140 KS) Buy (Maintain) Target Price (12M, W) 46,200 Share Price (01/16/13, W) 37,850 Expected Return (%) 22. 1 EPS Growth (13F, %) 0. 6 Market EPS Growth (13F, %) 19.

0 Free Float (%) 69. 5 52-Week Low (W) 31,650 52-Week High (W) 42,350 Beta (12M, Daily Rate of Return) 1. 57 Price Return Volatility (12M Daily, %, SD) 2. 3 Foreign Ownership (%) 32.05%) Price Performance (%) 1M 6M 12M ablative Absolute -2. 7 4. 3 12. 3 Relative -1.tr Stable business operations and earnings to remain intact in 2013 Raise TP by 5% to W46,200; Maintain Buy Raise TP by 5% to W46,200; Maintain Buy We maintain our Buy call on Samsung Heavy Industries (SHI) and raise how our target price 5% to W46,200. In deriving our target price, we applied a 5% premium to the companyEs lowest P/B level since 2005 (1. 3x). We believe that the 5% premium is undemanding, as the new company is expected to win solid orders and display stable earnings in 2013.3x. We think that SHI has strong investment merits in light of its competitive edge, stable earnings, robust growth potential, and cash flow improvement. Investment summary 1) Domestic institutions how are most optimistic on SHI am ong the three largest domestic shipbuilders. SHI has proven its superior competitiveness in the offshore plant business, including FLNG and drillships.

As such, the company will be able to repay its debt and strengthen its financial structure. 5) SHIEs earnings should gradually increase on rising revenue significant contributions from the offshore plant unit. Share price 150 140 130 120 110 100 90 80 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue (Wbn) 13,146 13,392 14,875 14,980 15,751 OP OP Margin NP (Wbn) (%) (Wbn) 1,433 10. 1,000 1,160 8.7 3,685 1,455 1,556 19. 4 4,021 1,551 282 18. 4 4,044 1,514 931 15. 8 4,396 1,667 978 14.4 8. 6 P/B (x) 2. 1 1. 2 1.4 6. 1 5. 5 4. 5 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 10 January 17, 2013 Shipbuilding Samsung Heavy Industries (010140 KS/Buy/TP: W46,200) Comprehensive net Income Statement (Summarized) Wbn) Revenues Cost of Sales Gross Profit SG Expenses Operating Profit (A dj) Operating Profit Non-Operating Profit Net Financial Income Net Gain letter from Inv in Associates Pretax Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit less Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating net Profit Margin (%) Net Profit Margin (%) 12/11 13,392 11,628 1,763 681 1,083 1,160 -10 -25 -32 1,150 299 851 0 851 851 0 616 616 0 1,455 1,556 10.

2 6. 2 12/13F 14,980 13,017 1,962 764 1,198 1,198 4 -44 0 1,202 268 934 0 934 934 0 925 925 0 1,514 931 10. 1 8. 0 6.6 5. 3 1. 2 5. 4 3,685 5,296 22,582 500 12.0 -14. 9 2. 8 23. 3 3.4 91. 3 25. 8 57. 5 12/12F 9.

0 0. 0 11. 1 6. 6 5.7 5. 8 18. 4 18. 9 182.7. 0 1. 3 5. 5 4,044 5,410 30,381 0 11.2 0. 6 4. 0 27. 1 4.

5 126. 4 -10. 3 69. 5 12/14F 8.0 0. 0 5. 2 10. 1 13.1 6. 4 14. 9 19. 1 121.4 EPS economic Growth (13F, %) 45. 2 Market EPS Growth (13F, %) 19. 1 P/E (13F, x) 13. 1 Market P/E (13F, x) 9.

58 Price Return Volatility (12M Daily, %, SD) 2. 4 Foreign Ownership (%) 18. 1 Major Shareholder(s) Hyundai Samho Heavy Industries et al. (46.We expect HMD to maintain stable rapid growth in orders and earnings, despite the global economic slowdown and eurozone fiscal crisis. Indeed, among small- to mid-sized shipbuilders, HMD is the company most favored by shipowners. Amid an expected further slowdown in the shipbuilding market, the company is anticipated to display distinguished share performance in 2013. Given HMDEs cash holdings of W450bn logical and the value of its stake in Hyundai Heavy Industries (W1.Investment points ) We believe HMD will continue to display outstanding performance among small- to mid-sized Korean british shipbuilders in 2013. Even amid intensifying competition due to limited orders and low ship prices, the company is expected to enjoy stable orders, earnings, and cash flow this year. 2) HMDEs competitiveness comes from its productivity, financing capa bility, and the quality of its products. It also boasts strong cost competitiveness as the company purchases raw materials at relatively lower prices from the Hyundai top Heavy Industries Group.5 3. 3 6M 6. 4 -2. 4 12M 11.

1 4,624 378 8. 2 200 9,992 441 -633 5. 5 11. 2 4,404 126 2.4 13. 1 4,855 230 4. 235 11,770 293 416 7. 4 10.2 1. 0 13. 8 0. 9 8.2 4. 3 12/12F 4,404 4,002 402 276 126 126 41 -8 -2 167 41 126 0 126 131 -5 -274 -265 -9 192 -563 4. 4 2. 9 3.

0 4. 7 4. 9 Statement of Financial Condition (Summarized) Wbn) Current total Assets Cash and Cash Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant logical and Equipment Intangible Assets Total Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities grand Total Liabilities Controlling Interests Capital Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 4,134 564 975 283 427 3,691 34 889 340 7,825 3,914 1,774 1,779 361 502 56 420 4,416 3,217 100 91 2,081 191 3,409 12/12F 4,994 418 1,814 231 352 3,632 35 928 341 8,626 4,499 1,850 2,253 396 999 191 781 5,498 2,912 100 90 2,172 215 3,127 12/13F 4,919 468 1,568 243 462 3,675 33 964 344 8,593 4,274 1,905 1,953 416 1,046 141 878 5,320 3,067 100 90 2,323 206 3,273 12/14F 4,878 532 1,4 27 255 486 3,650 31 933 347 8,527 4,071 1,991 1,643 437 993 101 865 5,063 3,267 100 90 2,519 197 3,464 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and Expense Depreciation year Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other current Payables Income Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others significant Increase (Decrease) in Cash Beginning Balance Ending Balance 12/11 -697 202 311 62 1 -213 -1,075 -190 -54 -593 -135 441 -100 -4 400 145 93 245 0 -93 -59 -168 732 564 12/12F -816 126 78 65 2 -12 -969 -220 52 66 -50 150 -112 -4 79 186 516 601 0 -39 -46 -146 564 418 12/13F 489 185 71 64 1 10 291 247 -12 56 -58 -47 -100 -4 0 57 -392 -350 0 -39 -2 50 418 468 12/14F 432 230 62 62 1 30 212 140 -12 86 -73 23 -30 -4 0 57 -391 -350 0 -39 -2 64 468 532 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) negative EBITDA Growth (%) Operating Profit Growth (%) EPS Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) strict Liability to Equity Ratio (%) Current Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 12/12F 12/13F 12/14F 11. 2 19.9 9. 8 8. 4 0. 8 1.8 8. 6 6. 0 9,992 6,556 9,518 11,770 13,153 9,869 12,760 14,910 146,152 130,821 138,428 148,290 2,000 2,000 2,000 2,000 19. 6 29.6 1. 6 1. 6 11. 7 -4.

5 33. 4 14. 3 -44. 7 -66.4 45. 2 23. 7 6. 1 4.1 19. 5 19. 5 2. 5 3.5 2. 2 2. 7 5. 5 4.

1 10. 7 15. 6 129. 6 175.0 115. 1 119. 8 -18. 0 -4.6 78. 1 109. 7Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 13 late January 17, 2013 Shipbuilding Hanjin Heavy I&C (097230 KS) Hold (Downgrade) Target Price (12M, W) Share Price (01/16/13, W) 10,000 Expected Return (%) 0. 0 EPS economic Growth (13F, %) RR Market EPS Growth (13F, %) 19.6 52-Week Low (W) 10,000 52-Week High (W) 23,850 Beta (12M, Daily Rate of Return) 1. 43 Price Return high Volatility (12M Daily, %, SD) 2. 7 Foreign Ownership (%) 9. Major Shareholder(s) Hanjin Heavy I Holdings et al (37.

We believe that the companyEs earnings and ready cash flow will not improve for the time being, given its tepid order performance amid the sluggish commercial vessel market, and the front suspension of its Youngdo shipyard due to a strike.Although the company has recently embarked on the development of an industrial site near the Incheon port, the project is unlikely to boost operating gross profit markedly due to high capital requirements and increased interest expenses. As such, the companyEs shares are unlikely to recover in the near term, in our view Although the companyEs shares are trading at a 2013F P/B of just 0. 4x, we believe that their investment merits are low.2) There is a slow growing possibility that the Subic shipyard will take new orders, as it possesses strong price competitiveness. However, as it is difficult to slender build highend vessels at the Subic shipyard, the companyEs earnings are unlikely to recover in the near future. 3) There are many labor-manag ement social issues yet to be resolved, including one related to employees who are currently on leave due to a lack of work. ) Although HHIC is meeting its short-term capital special needs through real estate disposal, the company will likely find it difficult to sell large-scale real estate assets due to the real personal estate market slump.Proceeds from the companyEs planned rights offering (estimated to at W180bn) should be only equivalent to its annual interest expenses. 6M -26. 7 -35. 5 12M -47.5 -103 2,795 76 2. 7 -10 3,071 83 2. 7 -32 EPS EBITDA FCF ROE (Won) (Wbn) (Wbn) (%) -1,496 312 487 -3. 6 -2,006 200 -224 -5.

0 0. 5 0. 4 0. 4 0.9 18. 0 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 14 January 17, 2013 Shipbuilding Hanjin Heavy I (097230 KS/Hold) Comprehensive national Income Statement (Summarized) Wbn) Revenues Cost of Sales Gross Profit SG Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain letter from Inv in Associates Pretax Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit more Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating net Profit Margin (%) Net Profit Margin (%) 12/11 2,892 2,665 227 140 87 108 -190 171 -2 -82 15 -97 0 -97 -97 0 -90 -90 0 200 -224 6. 9 3. 7 -3.0 2. 7 -0. 4 12/14F 3,071 2,764 30 7 224 83 83 -125 150 0 -42 -9 -33 0 -33 -32 0 -57 -56 0 184 146 6. 0 2.9 -2,006 323 36,806 0 0. 0 0. 0 -8. 7 -35.

2 -1. 3 -5. 1 2. 4 276.3 0. 4 24. 0 -2,123 -111 34,182 0 0. 0 0.3 8. 0 3. 9 -1. 5 -5.5 0. 3 12/13F 5. 9 0. 4 16.

8 20. 1 RR 3. 6 9. 8 4.6 87. 1 152. 8 0. 4 12/14F 10.0 9. 9 -5. 8 9. 9 RR 3.8 2. 4 267. 0 81. 7 157.

As of the publication date, Daewoo Securities Co. , Ltd. has been acting as a financial advisor to Hyundai Mipo Dockyard for its treasury stock trust, and other than this, Daewoo Securities has no other special interests in the companies covered in this report.As of the publication date, Daewoo Securities Co.* The target price was determined by the research political analyst through valuation methods discussed in this report, in part based on the analystEs estimate of future earnings. The achievement of the target price may be impeded by risks related to the subject securities and companies, as well as general market and economic conditions. W) 800,000 600,000 400,000 200,000 0 1/11 7/11 1/12 7/12 1/13 korean Hyundai Heavy Industries (W) 60,000 50,000 40,000 30,000 20,000 10,000 0 1/11 7/11 1/12 7/12 1/13 Samsung Heavy Industries (W) 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 1/11 7/11 1/12 7/12 1/13 Hyundai Mipo Dockyard (W) 50,000 40,000 30,000 20,000 10,000 0 1 /11 7/11 1/12 7/12 1/13 Hanjin Heavy I&C Analyst such Certification The research analysts who prepared this report (the „Analysts†°) are registered with the Korea Financial Investment Association and are subject to Korean marketable securities regulations. They are neither registered as research analysts in any other jurisdiction nor subject to the laws and regulations thereof.Except as otherwise specified herein, the Analysts have logical not received any compensation or any other benefits from the subject companies in the past 12 months and have not been promised the same in direct connection with this report.No part of the compensation of the Analysts was, is, or will be directly or indirectly related to the specific recommendations or views contained in this report but, like all employees of Daewoo Securities, the Analysts receive compensation that is impacted by overall firm profitability, which includes public revenues from, among other business units, the instituti onal equities, investment banking, proprietary trading and private client division. At the time of publication of try this report, the Analysts do not know or have reason to know of any actual, material conflict of interest of the Analyst or korean Daewoo Securities Co. , Ltd.Information and pinions contained herein have been compiled from sources believed to be reliable and in good faith, but such information old has not been independently verified and Daewoo makes no guarantee, representation or warranty, express or implied, as to the fairness, accuracy, greater completeness or correctness of the information and opinions contained herein or of any translation into English from the Korean language. If this report is an English french translation of a report prepared in the Korean language, the original Korean language report may have been made available to investors in advance of this report. Daewoo, its affiliates and their directors, officers, employees and agents do not accept a ny liability for any loss arising letter from the use hereof. This report is for general information purposes only and it is not and should not be construed as an such offer or a solicitation of an offer to effect transactions in any securities or other financial instruments.

The price and value of the investments referred to in this report and the income from them may go down as well as up, and institutional investors may realize losses on any investments. Past performance is not a guide to future performance. Future returns are not guaranteed, and a great loss of original capital may occur. Daewoo Securities Research 16 January 17, 2013 Shipbuilding Distribution United Kingdom: This report is being distributed by Daewoo Securities (Europe) Ltd.S. by Daewoo Securities (America) Inc. , a member of FINRA/SIPC, and is only intended for major institutional investors as defined in Rule 15a-6(b)(4) under the U. S.Any U. S. recipient of this document wishing to effect a transaction in any securities discussed herein should contact and same place orders with Daewoo Securities (America) Inc. , which accepts responsibility for the contents of this report in the U.S. or to U. S. ersons absent registration or an applicable exemption from the registration requi rements.