Panama Canal’s Legacy in American History

Assuredly the Panama Canal, If you didn’t know already, was one of the most economic and socialized marvels of its time. It was, at first, attempted by the French in the late 1800s, but they were unable to carry out the canal because of financial problems. Not only that, but yellow fever and malaria flooded the campgrounds with the aid of mosquitoes, which made the workforce unbalanced (Avery). Then in 1904, the Americans were to take over under the leadership and guidance of President Theodore Roosevelt. Even then Americans had a difficult time with construction. Moreover, with the canal built, it’s more sufficient then sailing around the tip of South America. Even today, the canal is used several times a day to bring benefits to the U. S. The French Admittedly, the French owned the Panama Canal before the U. S. Therefore, they were entitled to its construction under the leadership of Ferdinand de Lesseps, who worked on the Suez Canal in earlier years (Avery). Either Nicaragua or Panama would be the location for this engineered creation. Nicaragua was intentionally the first location for the canal (Jones) until one of the French leaders, one day, received a letter in the mail. As usual, the letter had a postage stamp on it (Avery). From there, Panama was then chosen to become the passageway, for the stamp showed Nicaragua’s terrain with erupting volcanoes, in which they didn’t want that to destroy their plans (Avery). From there, Engineers were sent to survey the area (Avery). Since the area was owned to the Columbian court, they had to persuade them to grant permission to build the canal (Jones). Finally, they were given permission to precede with their construction plans (Avery). Ferdinand De Lesseps. The man in control, Ferdinand de Lesseps, was an older man who was completely vain from his earlier success in the Suez Canal (Avery). To him, the Panama Canal would be no different. Clearly, he believed that the Panama Canal would be done quicker than the Suez, but was mistaken for in Panama consisted of nothing but mountains and rocky soil (Avery). In Egypt, it was only sand. His idea of the canal was that it would become a sea leveled canal, like the Suez and be parallel to the Panama Railroad that was built by the Americans earlier in the 1800s (Avery). With Him, a man named General Stephen Turr, who was a close Hungarian companion of de Lesseps, decided to help him in the canal (Avery). With Turr, the canal would be two thirds of the way done from the Rio Grande to the city of Colon, but it would be a take time and many lives, for Panama was infested with monstrous diseases that could kill men within forty eight hours. Disease Yellow Fever and Malaria roamed the French and, of course, American construction sites. Stegomya faciata was the species of mosquito that carried these diseases from one person to the next (Easmon). Thousands of men died from these diseases that, at first, seemed like a case of influenza because your body would be using a vast amount of substance to rid the infection (Easmon). Pursuing this further, it would worsen to a more serious case of the disease. Yellow fever is intellectually known as virus that has been transmitted from primates to humans through mosquitoes (Easmon). When the mosquito bit into the primate, it would then become permanently infected with the disease and ends up developing in the mosquitoes salivary glands to be spread to other organisms, which in this case, humans (Easmon). When bitten, the virus would travel into the bloodstream to make its way into the liver, kidneys, or blood vessels to incubate through time period of three to sixteen days before symptoms would occur (Easmon). Symptoms included headache, diarrhea, vomiting and anorexia. Soon after the body would recover for a time period of twenty four hours before it became more serious (Easmon). During this time the body would experience anemia (yellowing of the skin), liver inflammation, and jaundice, in other words, yellowing of the eyes (Easmon). Hence the reason it was given that name yellow fever (Easmon). The kidneys would become infected as well and cause the person to bleed from the nose, mouth and stomach (Easmon). What was interesting, though, was that the West Indian Negroes, which worked on the canal, were somehow immune to yellow fever, but they severely suffered from malaria (Avery). Malaria, on the other hand, was far off more deadly then Yellow fever for it consisted of parasites (Malaria). An engineer once quoted â€Å"If we could control malaria, I would be less anxious about other diseases. If we cannot control malaria, our mortality is going to very heavy† (American Canal Construction). Consequently, these infections developed in mosquito salivary glands as well and reproduce in the liver (Malaria). Above all, this incubation period could last for months to a year at a time (Malaria). When the parasites leave the liver they reenter the bloodstream where they are able to infect red blood cells to reproduce once again until the cell bursts (Malaria). As a result, it caused anemia and jaundice from the lack of blood cells (Malaria). Other symptoms include seizures, confusion, coma and death (Malaria). Thus, the French were not able to keep up with the rapid growth of infected patients. They had only a few nurses in the infirmary that where nuns and it didn’t benefit them at all since they were untrained, which lost even more lives (Avery). For example, the nurses would leave in the evening without giving any other care to the patients, which could have prevented the deaths of several lives if was brought up (Avery). Victims of disease were actually contained in screened cases with buckets of water to prevent insects from crawling up the beds (Avery). This created a breeding ground for mosquitoes (Avery). Later on, when the Americans took over they prevented this by oiling cesspools and canisters, fumigating Panama City, and ridding stagnant waters (American Canal Construction). Financial Problems Eight years after the French started the canal; they experienced financial problems with getting the canal finished. Ferdinand De Lesseps proceeded to travel back to France to attempt to find loans (Jones). He soon found out that France could not afford the vast amount he was asking for, which was around three million francs. The country could only pay eight percent of that amount (Jones). Engineers gathered together to calculate and survey the canal to discuss the completion of it and decided that it could not be done (Avery). Finally, in 1889, the French abandoned the Canal project pay back loans (Avery). In the final analysis, they were only able to finish two fifths of the canal (Avery). Most of the money that they used went to camp rent and maintenance, supplies, property and medical necessities, but non advised buying and those who stole money for possession greatly affected the outcome(Avery). One anonymous member of the French once quoted that â€Å"one part expended on the canal work, one third wasted, and one third stolen†. They left the canal up to America to finish the job and in 1894 the Americans had taken full control over the canal with Theodore Roosevelt’s leadership and power (Avery) President Theodore’s Impact President Roosevelt was first elected into office in 1901 (This Great Enterprise). For him, the canal could be easily used for military and economic power(This Great Enterprise). To peruse this even farther, he started negotiating Columbia for the possession for the canal. He offered forty million dollars to gain their permission to finish the canal, but Columbia refused (Buschini). Roosevelt became enraged with their decision, but Roosevelt knew that Panama was preparing to revolt against Columbia and decided to join them (Buschini). He then quoted â€Å"I was prepared to at once to occupy the Isthmus anyhow and proceed to dig the canal, but I deemed it likely that there would be a revolution in Panama soon† (Buschini). He then sent marines and gunboats to gain control over the canal and successfully forced Columbia to accept his request and grant Panama’s Independence (This Great Enterprise). In conclusion, the Panamanians and Roosevelt negotiated the Hay Bureau Varilly Treaty (Jones) that would trade U. S. military power for the independence of Panama and entitle the U. S. construction for the Panama Canal (This Great Enterprise). Many Americans didn’t approve of Roosevelt’s act against Columbia for the reason that they believed it was deemed unconstitutional, but Theodore Roosevelt Resumed his work and announced that â€Å"I took the Isthmus, started the canal, and then left congress—not to debate the canal, but to debate me†¦ While the debate goes on, the canal does to; and they are welcome to debate me as long as they wish, provided that we can go on with the canal†(Buschini). As Americans Built the Canal, they found several warehouses containing Machinery and supplies (Avery). Several Machines were found under water as well and allowed Americans to use them for spare parts (Avery). Also locomotives, cranes and other machinery were used to get the Panama Canal under way (Avery). Steam shovels were used instead of ladder dredges and Dump cars were loaded with soil to be shipped out of the area on the Panama Railroad (Avery). The Plan for America was to make the sea level canal into a lock canal with the depth of twenty nine and a half feet and ninety eight feet wide(Avery). Finally in 1914, the Panama Canal was able to open under the presidency of Woodrow Wilson (This Great Enterprise). To make sure there was no tension between the Columbian court and America, he negotiated a treaty paying Columbia twenty five million dollars to dissolve any potential conflicts (This Great Enterprise). Later on in 1978, President Jimmy Carter created a treaty to be ratified by the Senate that the Panama Canal would be given back to the people of panama to own and manage by the year 2000(This great Enterprise). The Canal’s Effect on the U. S. Indeed, the Panama Canal’s legacy brought several economic and social benefits for the U. S. In the U. S. it would create several more jobs to aid the canal’s shipment process and contain inflation for the hassle of transporting goods and by traveling around South America (Panama Canal). Since prices would decrease on imported goods, the American people would gain more money to spend on other necessities. In return, this would boost America’s economy through spending. The only consequences that resulted from this achievement was that it cost America three hundred and fifty two million dollars to complete the canal in addition to several acres of tropical forests were destroyed, people were driven from their homes and several lives were lost through disease and natural causes (Panama Canal). Socially, this canal would allow military alliances stronger between America and other countries and showed its importance through foreign intervention. To pursue these even farther, treaties were also created through the canal’s construction that brought America and other countries together as well (Panama Canal). Conclusion All in all, it has taken the Panama Canal about four decades to be completed. Through the French’s financial problems to America’s success in 1920, several hardships were created and overcome. America’s success would never have been accomplished if it wasn’t the determination of President Theodore Roosevelt and his revolt against Columbia. Even though the French were unsuccessful to complete the canal, they still have the right to know that they aided the Americans by leaving assets for repair, spare parts, and aving the U. S. thousands of dollars in medical centers, cabins, tools and supplies. Several lives were lost as well through Panama’s horrific diseases and other factors such as landslides, but it’s social and economic impact on America greatly affected its economy and alliances through military aid and trades. Through the twentieth century, the legacy of the panama was one of the most social and economic investments of its time and will always and forever be a part of America’s success.

Dietary Reference Values DRVs Essay

Dietary Reference Values (DRVs) Introduction            A balanced diet is very important for one’s body, and is defined as that diet which provides adequate amounts of nutrients and energy for health and well-being. Dietary reference Values are set of nutrient recommendations that are comprised of estimates of the amount of nutrients and energy needed by the population of healthy people in the United Kingdom. There are several uses of these estimates. However, Dietary Reference Values (DRVs) shows some limitations.            The main purpose of DRVs is to guide people other than offering recommendations. For any nation to have healthy people, it should make sure that they are well versed with what they should include in their diets. With DRVs, different groups of people can know what they need to include in their diets. This is a very important factor in the health sector. It reduces medical bills since it ensures that the whole population in healthy and free from diseases. Chronic diseases such as cancer and blood pressure can be avoided if one eats healthy. This means that if middle-aged people follow DRVs, infections of such diseases will go down.            The second use of DRVs is to determine optical amount of nutrients needed in the body. According to a study done by (Ross et. al 2011, pp.55) nutritional requirements vary with age, gender, and physical characteristics of the body. The study points the importance of understanding one’s nutritional requirement. DRVs help people know the optimal amount of nutrients based on their age, gender and body characteristics. For example, DRVs point out that women of child bearing age require more iron than men. If such studies were not available, it would be very hard for one to determine the amount of nutrients required by his/her body. Read more:  Essay About Nutritional Requirements of Individuals            DRVs help people understand particular functions of nutrients in their bodies. This eliminates diseases such as obesity, which is brought about by too much consumption of fats. When people are well informed about the role of nutrients in their bodies, they will always make informed decisions when preparing their meals. Some nutrients are needed in larger quantities while others are needed in small quantities. DRVs state the quantities in grams, milligrams or micrograms. DRVs show that vitamin C is needed in milligram quantities while proteins are needed in gram quantities. This knowledge helps nutritionists to know what a person lacks before administering their prescriptions (Hoey et.al. 2013, pp.105).            DRVs have certain limitations. First, they are complex and can only be interpreted by a health professional. This means that when a lay person is left on his or her own, he/she can take undesirable amounts of nutrients due to misinterpretation of the diet tables, and this is likely to affect that person negatively. It can lead to diseases such as obesity or malnutrition. The other problem associated with DRVs is that some people may view them as recommendations, but in actual sense they are not. DRVs should only be used as guidelines and requires interpretation by professionals. Thus, they function like dietary advice. Population Reference Intake may yield undesirable advice to the population because people are not identical. Thus, having a fixed value for the whole population may mislead some people. People are affected differently by different factors of the environment. When coming up with population reference Intake, individual factors ought to be taken into co nsideration (Manson, 2011, pp.525). References Hoey, L., McNulty, H., Duffy, M. E., Hughes, C. F., & Strain, J. J. (2013), ‘EURRECA—Estimating folate requirements for deriving dietary reference values’, Critical reviews in food science and nutrition, vol.53, no.10, pp.104-105. Manson, J. E., (2011), ‘The 2011 Dietary Reference Intakes for Calcium and Vitamin D: what dietetics practitioners need to know,’ Journal of the American Dietetic Association, vol.111, no.4, pp. 524-527. Ross, A. C., Manson, J. E., Abrams, S. A., Aloia, J. F., Brannon, P. M., Clinton, S. K., †¦ & Shapses, S. A. (2011), ‘The 2011 report on dietary reference intakes for calcium and vitamin D from the Institute of Medicine: what clinicians need to know’, Journal of Clinical Endocrinology & Metabolism, vol.96. , no.1, pp.53-58. Source document

Consumer law Essay Example | Topics and Well Written Essays - 2500 words - 2

Consumer law - Essay Example The importer of a product into any member state of the European Union may also be considered as a producer under the said directive.2 However, where the producer cannot be known or identified, the supplier of such a product is treated under the directive as the producer unless the identity of the producer or the one supplying the product can be identified by him.3 In the case at bar, if the buyer would identify specifically the manufacturer of Aquawash-09 in Korea, such manufacturer may be made liable under the directive. If not, the importer of such washing machine, specifically, Heinz which is a German Company, can be made liable under the EC directive. The buyer can therefore claim against the manufacturer, the supplier or both under the EC directive. Furthermore, under the EC directive, a defect in a product exists if the so-called objective test is established which includes â€Å"either or both the cost-risk analysis and the consumer’s expectation of safety.†4 A product is considered as defective under the EC directive if such product does not make available the safety which any person could â€Å"reasonably entitled to expect,† taking into account the following: â€Å"the presentation of the product, the use to which the product could reasonably be expected to be put, and the time when the product was put into circulation.†5 Defect may also be present in the design or the manufacturing of the product, in the failure to warn, in the instructions, and in the â€Å"developmental defects.†6 If then the product does not provide the level of safety which is expected by the consumer, it would then be considered as defective under the directive even though it functions under the designed specificati on.7 In the case at bar, the washing machine then may certainly be considered as defective not only because it did not function properly but because it does not provide for the level of safety reasonably expected from the product, as

Control Structures in programming Essay Example | Topics and Well Written Essays - 1000 words

Control Structures in programming - Essay Example s control structures for the statements have been held up for the reason that the primeval control structures of a digital computer that has a sequential uni-processor that is adequate to replicate some other control structure. The compensate of extraordinary as well as meticulous control structures are for the most part in simplicity plus briefness of appearance and in programming effortlessness, events which are tough to determine and normally in unpredictability by competence of accomplishment proceedings. It is accessed that "language programmers should by no means be pleased by languages that give permission to them to program the whole thing, on the other hand to computer program not anything excluding attention simply"(Fisher, 1990). The control arrangements of programming have not reserved rate by the augment (Fisher, 1990). The next important control structure is the selection that permits the selection in the middle of diverse ways. For instance the C++ offers dissimilar ranks of assortment: we have the one-way choice by means of an â€Å"if structure† then we have the 2-way choice by means of an â€Å"if-else structure†. The last selection can be used for the multiple choices by means of a â€Å"switch statement†. The last type of the control structure is the iteration control structure that guides to the looping of the programming statements. In the C++ we have 3 types of the iteration control structure lopping structures:2 This type of the control structure permits single set of programming language statements to be performed if an outcome is correct plus one more group of proceedings to be performed if a statement is false.   A selection structure is as well acknowledged as an "If-Then-Else" arrangement, its pictorial representation is given below in picture # 1. Here in the selection control structure the state in the â€Å"if statement† is the expression that is calculated for the decision of the â€Å"if statement†. If this statement is correct,

Assignment Case Study Example | Topics and Well Written Essays - 250 words - 4

Assignment - Case Study Example They can manage their products from one area to the next and capitalize on the most viable opportunities present in the industry. When doing the feasibility study, it found out that the retail business was growing at an exponential rate (Hill and Jones, 2013). This means it has a chance to capitalize on it and use the acquired knowledge over the years to meet its goals. Despite the financial crisis that triggered a price discount for its products, the expansion after the recovery of the economy will be a good way of dealing with an increased demand that will open up new markets both at the retail and wholesale sections. If the company escapes from continued need to expand, it will miss out on opportunities that would have cemented its position in the market. As such, it should proceed with its plans and capitalize on the expected vibrancy of the market. This will also streamline its efficacy in dealing with its supply chain management process in whichever area they operate in. the expansion, therefore, was a good economic and strategic opening for the

Religious persecution internationally Research Paper

Religious persecution internationally - Research Paper Example persecution by governments. In Russia, cruel criteria and government monopoly against the Orthodox church has led to discrimination against some other churches and religions. Muslim women in Turkey also can not wear anything that reveals they are Muslims such as headscarves. There is another type of racism against Muslims in Burma that Muslims don’t have the right to get citizenship or passports. As a result, Muslims in Burma will lose their chance to get jobs. In Iran members of the Bahai faith are prevented pensions and government grants. In addition, Bahai students are not able to pursue their higher education in Iran’s schools. In order for some churches get their legal recognition in Serbia, they have to achieve various conditions. In contrast, some churches obtain their legal status without doing anything (Type). These are some examples of racism and religious persecution by the governments of different countries that seek to broadcast and promote persecution amon g their citizens either directly or by a particular group. arrests of members of the banned Falun Gong spiritual movement. The same thing also happens for both Buddhist and Christians in Vietnam. Muslims in America and Australia are subjected to multiple physical assaults and attacks for their property as mosques by burning. In addition, Muslims also in America and Australia are described by some as terrorists and some people there hate to speak with Muslims directly. In Saudi Arabia, only Muslims can practice their religion freely but if you are not Muslim, you will face a lot of trouble and contempt and you will not find place also to do your religious ritual. The government of Georgia has failed so far to bring and judge the perpetrators of the violence against worshippers of non-Orthodox faiths. In India also there are bloody conflicts between Muslims and Hindus, as both parties seek to be the dominant.

Relevant Theories of Management and Application Essay

Relevant Theories of Management and Application - Essay Example Each theory offers managers a unique approach for attaining organisational success. This paper attempts to illustrate the characteristics of different organisational theories and how they were successfully applied by various types of organisation. Nature of Scientific Management Increased efficiency of job performance is the goal of scientific management, which is the pioneering organisational theory. This was introduced by Frederick Taylor in 1909 during the beginning of industrial revolution. Taylor recognised that critical to the success of industrial firms is maximising worker productivity while minimising waste. In effect, Taylor promoted the method of standardising the job of each worker. This is done by having the managers analyse the tasks that are essential for increased efficiency and allowing them to create job designs that will maximise the division of labor. Then, the workers are given full layout of the specific tasks that needs to be accomplished (cited in Watson 1995) . Furthermore, scientific management practices also involve strict levels of control. ... In this context, scientific management theory proved significant for effective mass production. However, the scientific management practices of the 19th century in US and UK factories have compromised the morale of many workers. This then resulted to the formation and strengthening of unions in countries. They asserted that such practices, especially in car factories, have reduced their bodies into human machines by utilising them to the full extent and taking away their right to movement (Hollway 1991). Despite the drawbacks of scientific management theory on employee health and morale, one UK firm has successfully adopted scientific management practices. Hans Chains was one of the world’s famous makers of drive chain. While the organisation applied the systematic division of labor to minimise production cost and improve efficiency, it refused to adopt strict scientific management practices which are detrimental to the health of employees. Rather than giving them differential bonuses, the company implemented a policy in 1896 which allowed workers to work with only 48 hours a week. This is based on the premise that worker productivity is maximised if working hours is reduced (Witzel 2009). Moreover, in 1906, Hans Chains established the first personnel department while in 1917; it was the first firm to develop a committee for managing the shop workers. The company experienced massive success in the field by adopting the effective practices of scientific management and avoiding its drawbacks, such as exploiting the strength of workers to maximise profit (Witzel 2009). Moreover, recent research on large US manufacturing firms showed the application of scientific management practices through the extensive effort to minimise production

Internation Accounting Essay Example | Topics and Well Written Essays - 2000 words

Internation Accounting - Essay Example Narsimha Rao and the finance minister Dr. Manmohan Singh in the year 1991. Through this reform foreign direct investment was brought in many sectors. By the 20th century India headed towards a free market economy which reduced the state control of the economy with increased financial liberalization (Datt & Sundharam, 2009, p. 976). The Indian economy is the eleventh largest in the world by the nominal GDP and the third largest in terms of the PPP (Purchasing Power Parity). In 2010-2011 India maintained a GDP growth rate of around 8% thus bringing down the fiscal deposit of the country to 4.8% of GDP by maintaining a current account deficit to 2.6%. However, the fiscal year 2001-2012 has been a challenging for the Indian economy. With the progressing year monetary tightening was witnessed in response to the untamed inflationary pressures. The gradual increase in inflation of the Indian economy resulted in slowing down the growth rate of India. In spite of the economic turmoil in the c ountry India still is goring at a rapid pace in comparison to other developing countries. This in turn is enhancing the opportunity of India to push through further reforms, generate economic opportunities and create infrastructure for the country (â€Å"Current State of Indian Economy†, 2012, pp.1-7). The Indian financial market has progressed over the years especially in the banking sector with 14 nationalized banks to provide 40% of their net credit to priority sectors so as to fulfill the developmental and social goals of the country. Company’s Business HDFC bank mainly provides service in wholesale banking, retail banking and treasury services undertaken by the company. In the whole sale banking the target customers of the... This paper shows that according to the study of HDFC bank we can conclude that the company is performing very well even ender the turmoil economic situation of the country. The evidence of which is their increased net profit which has amounted to Rs.113, 413, 323, 000. But the cost of revenue of the company has increased over the year which is cause of concern for the bank. The company is listed in National Stock Exchange in India. The bank has made some investment decision which has resulted in negative returns for the company. This has reduced the cash and cash equivalents of the company to Rs. 209, 377, 263, 000. The accounting principles that is adopted in India is a little different from that of IFRS which is usually applied in developed countries like America, Europe, etc. Thus the item under consideration is usually a little different from that of a manufacturing company and so is their process of accounting. Hence, the bank under consideration has been successful in generatin g an income of Rs. 325,300,466,000. This paper approves that the impairment of the assets is usually assessed in the balance sheet of the company. The occurrence of the impairment loss, if any is forecasted in the profit and loss statement of the company. This generally arises when the carrying cost of the assets exceeds the estimated recoverable amount. The revisions of the accounting estimates are prospectively recognized both in current as well as future periods.

RBA Decrease Rates for Christmas Essay Example | Topics and Well Written Essays - 1750 words

RBA Decrease Rates for Christmas - Essay Example The economy is made up of various components and each and every single component affects the economy differently. In the explanation and analysis of the â€Å"RBA Decrease Rates for Christmas† article, a number of economic components are considered. These components aid intensive analysis of the article based on the context of actions taken by the RBA, Central Bank and the economic responses experienced in the financial markets and the economy at large. Aggregate demand and supply plays a central role in the economy, determining the overall level of performance of the economy1. Unemployment and inflation are key determinants of the direction that the economy takes and they both affect decisions made within the economic context. Monetary policy on the other hand is undertaken by the Central Bank as a measure to manage the economy alongside fiscal policy. The two measures are crucial in managing currency trends that further determine the level of inflation in the economy. Analys is in the Context of Economic Concepts/Theories Aggregate demand and Supply The economic model is made of different sectors and industries. Each constituent sector or industry contributes towards the overall welfare of the economy. Aggregate demand and supply denotes the entire economy’s output. ... Aggregate demand brings on board total spending in the economy. The different levels of spending in the economy are made up of consumption, investment, government purchases and net exports3. The aggregate supply curve comprises of an inflationary and a non-inflationary region. This factor provides a basic principle for the required analysis in this paper. Different factors affect both aggregate demand and aggregate supply. However the interaction of the two is critical to any given analysis in the economy. National output can be either nominal or real, depending on the price base used in their computation. Where more stable prices are used to compute national output given an identified base year, real national output is computed. On the other hand, where current prices are used, nominal national output is computed. Real GDP is obtained when the aggregate demand and aggregate supply interact. On the same point, the resultant equilibrium results in the national inflation rate4. The fig ure below shows an aggregate demand-aggregate supply model: A number of factors affect both aggregate demand and aggregate supply. Only the factors that are important to this analysis will be highlighted. Income, wealth, credit availability, government demand, investment and future expectations on inflation, income, wealth and interest rates causes the aggregate demand curve to shift to the right upon an increase in any of them. An increase in some other factors causes the aggregate demand curve to shift leftwards. These are: interest rates and taxation. On the other hand, a rightward shift is observed on the aggregate supply when prior investment,

Food and Baverage Operations Management Assignment

Food and Baverage Operations Management - Assignment Example In between these times, the demands as well as production are slow and there are valleys. Another important characteristic of the food production as well as the beverage and food service system is that both these factors are labor intensive and not involve not only the skilled but the unskilled workers as well. The fact that the men us tend to change at daily basis shows that the pattern of food production also varies largely. The above mentioned characteristics are seen to create challenges emerging in not only production but also in scheduling employees, high food and labor coasts and lastly difficulty in staffing. The food service directors strive to eliminate the effects of these traits and search for ways to reduce them. Since the conventional food service systems are highly responsible for these characteristics to exist, several other foodservice systems provide solutions to this issue. The different foodservice systems include the conventional system, assembly serve, ready prepared and lastly the centralized or commissary system. Different factors possess specific effects on the menus and recipes for each of these foodservice systems. The first and foremost factor is the nature of the menu that is being finalized; this factor is followed by other features such as size of the operation for which the menu is being decided, the quality of the operation along with the objectives of the operation. Furthermore, the type age group and quality of customers the specific system will be targeting also plays a major role in deciding the menu as well as the recipes. This includes the food habits as well as the food preferences of the customers being targeted. Since nutritional balance of the dishes in the menu is of immense importance, it is vital that the dishes that are being produced have a nutritional balance. Since in the given case study, 50 guests are adults, so the men u planned will contain more dishes that

Innovation and Invention in the Current Age Essay Example for Free

Innovation and Invention in the Current Age Essay I’m sure you all might have sensed something wrong as soon as you would have read the title of the article- Invention is the mother of necessity. Well, to go by conventions there is a proverb which goes like –Necessity is the mother of Invention. My English teacher used to elaborate this one by explaining that, it’s the necessity or paucity of something that leads to an invention. To cite a few simple examples- Telephones, mobiles etc. The telephones and mobiles were invented because it was a necessity for people to get in touch even when they are miles away. So that is how the proverb- Necessity is the mother of Invention goes. But, the technology traits today converse the proverb in entirety. In today’s mind-bogglingly advancing Technology Universe, it’s the invention of something that evolves its necessity. We need not be Marketing Experts or Trade Analysts to understand this simple yet cunning gamble of Technology vendors. I will begin justifying my topic with one the latest Tech-trends- The Tablet PCs. I’m sure you all might have seen the recurrently flashing endorsements of Tablet PCs, most popular of them being Apple’s Ipad. Let’s go in deep waters. The Tablet PC vendors in their advertisements claim that Tablet PCs are a vital necessity for professionals in the Corporate World. Corporates have lots of work, to be specific important work, and if they want to carry it with them, they can just do it via Tablet PCs. Hence, this would increase the response of the corporates towards events and thereby increasing a firm’s productivity. This is the most clichà ©d explanation a marketer for Tablet PC would provide. But, I would make a simple question here. Were Microsoft, Apple Inc, Hawlett Packard and other Big Daddies in B-World making losses when Tablet PCs weren’t invented? Or did their profit graph break the charts after the Tablets were invented? Obviously not ! Then why the Tablet PCs? Answer to this is simple- Profits. If we try to understand the marketing strategies, we would come to a conclusion that a company cannot sustain profits with a single product. You cannot keep on selling the same thing every day, because people already have it, their necessity is quenched and they wouldn’t want to buy it again. Hence, why not create something new? Once a new product is  made, the demand for it can always be created. People are always in hunt of new gadgets, not out of necessity but out of curiosity and voracity. People would always want to try something which they’ve never tried. That too, if the target audience is the Corporate World, sell them anything in the name of profit and they would buy it obliviously . As a result, now you see the corporates going GAGA over the Tablet PCs, some of them have even started equipping the creamy staff with IPADs and stuff in panic for high profits. Another example is Facebook. Facebook was created under the pseudo motive of Social Networking. I feel like laughing when I hear the term Social Networking associated with Facebook. The reason being, there is everything else happening on Facebook except Social Networking. Spying, Virtual Relationships, Corporate Deals, Advertising Marketing, Gaming, Celebrities but Social Networking is something with definitely seems absconding. It was invented to get people ( rather strangers ) closer socially. But I’ve a question to ask, did people have no friends before Facebook existed? I bet people had better friends and better relationships before Facebook. Now, the scenario is that, we would see the newspapers reporting breakups and divorce due to spying issues over Facebook. We would find people’s privacy violated and hence misused. 3 out of 7 days in a week, the news fader on Yahoo! homepage shows issues posed due to usage of Facebook A couple got divorced due to suspicious wall posts, an employee was sacked for writing ill about his boss in his status updates, celebrities digging at each other and what not. In the name of a bliss pertaining to Social Networking and Togetherness it proved a jinx! Not only this, it made the youths so fervent about it, that its mania affected their academics. Facebook now has become an indispensable part of almost everybody’s life. It was never a necessity, but its invention made it a necessity, to be more explicit-an ADDICTION. If you look around, you will find so many things which logically hold negligible prudence in our life, still we have got hooked to it, rather we have been made to hook to it. Sometimes, we are hooked to a particular thing not because we find it necessary or important, but just due to peer pressure. Ipods, Ipads, Smartphones have become a STATUS SYMBOL today and  hence many people use it involuntarily to show off their lofty stratum. Marketing Strategies have cast such a robust spell on our mind that it hardly sees the vitality of anything and just makes it a part of our life. It’s difficult to get out of this conjure but not impossible. It’s time we contemplate about the things we’re using, and about the things we’re addicted to. To conclude, â€Å"Invention is the Mother of Necessity†- is the Mantra which Vendors and Marketers follow today. We being mere mortals fall an easy prey to this hoax. Yet, if thoughtful approach is given precedence over Peer Pressure, Greed for Profit and Class Conscious Approach, it can be tackled with. As soon as people need something, they invent it. For example, when ancient people felt hunger – they went on hunting and for that they invented the bow and arrows. When they needed to carry heavy cargos to large distances the wheel was discovered. In fact, every day the humanity faces new challenges that can’t be met using only the existing technologies. And that’s why new inventions are made every day. Actually, there are people who would challenge even the seemingly obvious statement that â€Å"Necessity is the mother of invention†. They say that inventions were not inspired by the necessity alone. Curiosity was, and still is, a powerful stimulus for explorers, researchers, and inventors. Besides, I have heard more than once, sometimes as a joke, the idea that laziness is the mother of invention, as the man by nature has always been trying to make his life easier by all possible means. Laziness combined with ingenuity, inspired the man to boost his strength by means of the lever, the wheel and axle, and the pulley. For the same reason, the man discovered the sail which enabled him to move fast across the seas without putting any effort into it. But the most obvious proof of this statement is the invention of the remote control for the TV set. Only a very lazy person could have invented a way to avoid having to stand up from a sofa or a  recliner to press a button of the T V set manually. Moreover, there is another point of view that jealousy is the mother of invention. It’s known that the man has only invented the wings because people had long envied the birds their ability to fly. The envy of the fish’s ability to breathe under water has encouraged the man to invent the aqualung. So, those who say that envy gives the start to any progress are not far from the truth. But still, whichever it may be: curiosity, laziness, or jealousy – all of them are nothing but substitutes for necessity. It was necessity that forced the man, almost half-ape, to start The meaning of the proverb is self-evident. We invent what we need; unless we feel the pressure of needs, we are not likely to invent anything. The fable of the thirsty crow which collected pebbles and threw them into the jar to raise the level of water to the birds reach of lips is well-known. Mere necessity would not help us much if we are not moved by thought. Animals have their needs but because t hey lack the power of thinking and ingenuity, they cannot invent anything. They act on instinct and follow a beaten track. Hence, the correct formula should be necessity is the mother of invention but only when it is supported by the power of thinking. This, of course, is obvious. When man feels the pinching need of anything, he begins to think how he can satisfy his needs. He then sets his mind to the task of invention. Necessity gives the first impulse; the rest is the work of the intellect. In primitive times men lived by hunting. It became necessary to shoot and bring down the bird flying or the beast running beyond the reach of man. Hence, the bow and the arrow were invented. Clothes were devised as protection against cold, houses for shelter. Implements were invented for production of food. In this way, various instruments were made to secure a better standard of living. Man is not only the slave of his needs but their creator as well. He not only seeks to satisfy his necessity but also his desire for beauty, his lust for power. Culinary skill has been invented to please the palate. Ornaments were invented to add to female beauty. Man has spent millions trying to invent guided locomotives to the moon and other planets like Mars, not because there is any crying need for the same, but because it gives the thrill of doing the outwardly impossible. The mere satisfaction of needs can never be the sole motive for exercising mans faculties for inventiveness. The proverb tells us not to be passive in our attitude to life.

Energy Consumption In India And Tamil Nadu Environmental Sciences Essay

Energy Consumption In India And Tamil Nadu Environmental Sciences Essay India is 7th largest country in world comes under Asian continent, containing 28 states and 7 union territories. India is a peninsular country surrounded by Bay of Bengal in East, Indian Ocean in South and Arabian Sea in West. The neighbouring countries are Pakistan, Nepal, Bhutan, Bangladesh, Myanmar, Burma, China and Sri Lanka Electricity by type.gif Above figure shows Energy produced in India from the period of 1990 to 2008. Its seen that Energy produced from Thermal power constitutes nearly 70 %, and in this coal, lignite, oil, natural gas are the main resource. Remaining 22% is produced through Hydro power projects, approximately 5% from nuclear energy and remaining from Geothermal, Solar, Wind and Wastes, and its seen that India has showed its interest towards renewable energy resource only in this decade Petroleum (Thousand barrels per day) Total oil production 878.73 Consumption 2,980.00 Demand 2,101.27 Natural Gas (Billion Cubic feet) Production 1365 Consumption 1811 Demand 446 Coal (Million short tons) Production 568 Consumption 637 Demand 69 Electricity (Billion kWh) Net Generation 761 Net Consumption 568 Amount of Carbon dioxide emission from fossil fuels alone accounts 1494.88 Million metric tonnes of CO2. Below table lists the amount of installed power production by region wise North Region 34,207.15 MW Western Region 37,099.86 MW Southern region 36,569.32 MW Eastern Region -18,881.95 MW Islands 80.69 MW As India being a huge country we are given our native state to discuss about Energy production and consumption which is Tamil Nadu located in Southern region of India. Tamil Nadu produces 10214 MW of energy and out of which 8348 MW is needed for Tamil Nadu, which has nearly 66 million populations. The main source of energy productions in Tamil Nadu are Thermal, Hydro, Wind, Biomass and Solar. Out of which Wind Energy dominates the other source of energy productions. Wind power sector started its growth from 1990 and many Foreign wind energy started to boom due to attractive subsidies and incentives offer by the government for setting up their manufacturing plants. Wind Energy contributes 3545 MW to the state. The farms are located in Aralvoimozhi, Palghat, Sea Shore, Shengottah and Theni. In which Aralvoimozhi is the largest producer contributing nearly 35% of total wind power to state. Secondly the most energy resource is Thermal power. In Tamil Nadu, there are 5 Thermal power plants which pump out energy. They are Ennore thermal power station (ETPS), North Chennai thermal power station (NCTPS), Mettur thermal power station (MTPS), Tuticorin thermal power station (TTPS) and one more major power station is Neyveli Lignite Corporation (NLC) which is alone owned by the Central Government of India. Total Energy produced from Thermal plants is 3463 MW. Thirdly Hydro Electric Power plants which produce 2390 MW. Tamil Nadu has many rivers flows into it from Western Ghats to Bay of Bengal. The water collected into many small dams and used for agriculture purpose during summer and at the same time these are used for energy production too. One of the biggest energy producers is Metter Dam. Finally we have Solar and Biomass which contributes 102MW and 609 MW respectively and rest of them are from wastes. Out of 10214 MW, 5288 MW is produced by State, 1058 MW from private sectors and rest is contributed by Central government. Even though Tamil Nadu produces excess energy than its need, but the state has been suffering from lack of power every day. This is due policies which are framed by central government to share the produced energy with neighbouring states. Huge population cover which is 66 million out of which 11 million population is in Capital City , a bit more than the Swedens population, which could be the causes for energy demands and also Tamil Nadu is being one of the largest industrial state. So, it is obvious that energy demand raises and due to these effects, causes the state to use its all available resources. Change in seasonal rainfall has lead to less energy production from Hydro power plants. So, its been pushed to focus on energy production through non-conventional resources. India is being covered by three sides of coastal areas, its rich in Wind energy, Tidal wav es and Solar Energy. Tamil Nadu has renewable energy grid power with installed capacity of 4790 MW which is nearly 32% of the Tamil Nadu Electricity Boards total grid capacity. TEDA (Tamil Nadu Energy Development Agency) was established in 1985 with following policies To set up RD To promote use of Renewable energy and to implement projects To promote energy conservation activities To conserve resources development on renewable source of energy Activities done by TEDA towards sustainability development Attracting investors through setting up demonstration wind farms , tax breaks Conducting Awareness campaign to educate people about use of renewable energy and energy conservation. Promoting renewable energy utilisation products like Solar light, solar heater, Wind mill water pumps in villages since majority of the population is in Villages and in small towns. Â  setting up of Grid Interactive Solar Power Plants India is being a heavy user of coal, which accounts in large amount of CO2 emission. Wind turbines can help to overcome emission of CO2 into the atmosphere. Wind farms are helping to reduce Indias reliance on fossil fuels and will reduce emissions by an estimated 50,000 metric tons of CO2 per year, which is comparatively large when compared with amount of CO2 emitted. India has aimed to reduce 20-25% CO2 emission. Apart from Wind Energy, Solar Energy is also a major source as far as India is concerned since it has sun light at an average of 9 hours a day throughout the year. India has planned to generate 22 GW of energy by 2022 from solar energy. Very recently off shore Wind farms are being installed and Solar energy is also being given importance.

Fmcg Industry And Outsourcing Information Technology Essay

Fmcg Industry And Outsourcing Information Technology Essay FMCG industry, conversely also called as Consumer packaged goods industry. Fast Moving Consumer Goods are those fragile consumables which are usually consumed by the consumers at a regular interval. Prime activities of FMCG industry belong to selling, marketing, financing, purchasing, etc but the industry also betrothed in operations, supply chain, production and general management. FMCG industry provides a wide range of daily consumable products and consequently the amount of money circulated against FMCG products is also very high. Competition among FMCG companies is also mounting and as a result of this, investment in FMCG industry is also greater than ever, particularly in India, where FMCG industry is regarded as the fourth largest sector with total market size of US$13.1 billion which is estimated to grow 60% by 2010. FMCG industry is considered as the largest segment in New Zealand which accounts for 5% of the country Gross Domestic Product. FMCG product categories include Packaged food and dairy products, Hair and body care products, glassware and paper products, pharmaceuticals, consumer electronics, plastic goods, printing and stationery, household products, photography, drinks etc. and some of the examples of FMCG products are soap, detergent, shampoos, coffee, tea, dry cells, greeting cards, gifts, tobacco and cigarettes, watches etc. Well known FMCG companies are Nestlà ©, Reckitt Benckiser, Unilever, Procter Gamble, LOreal, Coca-Cola, Carlsberg, Kleenex, General Mills, Pepsi and Mars etc. The purpose of this topic is to investigate the relationship between the factors that affect the outsourcing decisions in FMCG industry of Pakistan. There are higher trends seen in the market for outsourcing in many FMCG companies but still it is reflecting as there are a number of factors which inhibit the FMCG companies to make outsourcing decisions. Outsourcing occurs as a result of intimate acquaintance between subcontractors and managing departments. Outsourcers want to decrease the cost of production and the cost of management by distributing work to avoid other costs such as wages and compensation. However, outsourcing helps society by decreasing unemployment, making the economy grow and decreasing social problems. Outsourcing is also a way to boost the economy and it helps producing industries to survive in the market. However, it is not a guarantee that the producing industries will survive. It is just one of the devices that FMCGs should use in management, but it depends on managerial efficiency in the industries. If FMCGs want to survive in the age of globalization, they have to adopt management techniques suitable for each situation in order to survive in the current industrial climate. Nowadays, macroeconomics and microeconomics have been changing very rapidly, in every region. This situation is forcing all countries in the world to adapt to competition resulting from globalization, including modifying government policies, international relations, free trade area agreements, etc. Changes are also occurring in industrial management, especially organizational management, production management and technology, delivery, and marketing management, in response to both local and international competition. In the competitive environment of manufacturing concerns and evolving technological era, to enhance efficiency and productivity, cost remains a challenge to overall manufacturing industry to compete with rivals in providing the best total lower cost to end customers and to secure the market share in order to add value to the shareholders. To invest heavily in capital investment such as machineries, buildings and land to expand space in supporting the production operation is a burden to most companies if the return of investment is not valuably. FMCGs that outsource are in quest of, to recognize benefits or address one or more of the issues like Cost savings, Focus on Core, Cost restructuring, Improve quality, Knowledge, Contracting out, Operational expertise, Access to talent, Capacity management, Catalyst for change, Enhance capacity for innovation, Reduce time to market, Co modification, Risk management, Venture Capital, Tax Benefit, Scalability and Creating leisure time etc. FMCG Industry and Outsourcing Companies that were struggling to increase the capacity to support the ramp up demand at times were upset when there was a drastic downturn of demand cut. As a result, the sudden downturn would affect the resources and investment that were put into supporting the end customers demand. Team of human resources and machineries that consumed production space and being idled would increase the overhead and fixed cost, thus affecting the companies badly in their financial statements. In addition, training and development to up skill internal resource skills set in terms of running the operation effectively, bringing up technical content expert, specialist ability to perform research and development to add value, effective management and maintaining the operation would require significant investment in human resources. Thus, most of the companies started to explore opportunities to reduce cost and to improve profit margin in order to maintain competitive edge in the market. One of the identified opportunities was to outsource non-core business functions to external service providers at a lower operating cost. Outsourcing decisions are those strategic decisions that change the operating strategy of an organization both in manufacturing and services. The most important step in any outsourcing decision is to clearly define the scope of the activities that are being considered for outsourcing versus previously in sourced. Outsourcing becomes a basic strategy of the FMCG industry and is essential for FMCG firms to stay competitive in the global environment. From firms perspective, outsourcing offers several advantages, such as reducing or stabilizing overhead costs, gaining cost advantage over the competition, concentrating on core activities and organizational specializations, providing flexibility in response to changing market conditions, and reducing investment in high technology based manufacturing organizations. Through 2004 onward business growth strategy changes and business growth was restored as the first priority for most worldwide businesses, making cost reduction the second or third priority. Ensuring business growth as well as business process speed, agility and cost reduction requires a unique mix of internal and external capabilities, skills, services and processes. Only a business-driven sourcing strategy supported by good-enough sourcing execution capabilities will guarantee successful business outcomes as well as improved performance and competitiveness. Lack of an outsourcing strategy or relevant skills and processes to manage outsourcing relationships is the most important reason for the failure of service and manufacturing industry. Global competition, increasing regulation and inspection, the development of specific standards and the industrialization of services will raise the competitive bar for the FMCGs services and business processes, making it compulsory for the FMCGs to work on their core business in source let the others do their job for you. By competing on core competencies and outsourcing non-core areas, FMCG companies achieve consistently higher performance over the globe in all fields especially manufacturing and supply chains through consistent focusing and tracking their Key performance indicators. For any of the company to make decision for in source or outsource, its the company strategic decision which will make the basis for the whole in source or outsource process. For making any decision, decision maker will consider the following perspective in their mind or they must have good answers for these questions. Determine what your company needs to or should do best strategy driven long-term positioning Determine how best to do things profit driven short to intermediate term competitiveness INSOURCING/ OUTSOURCING STRATEGIC DECISION KEY STEPS IN SERVICE BASE INDUSTRY An executive level cross-functional decision-making process identifies core competencies and areas for internal investment. The level of internal control required by the companies and prospective direction for operational insource/ outsource decisions are identified and analyzed based on strategic value and relative competitiveness of the company in the market. Document complete strategic decision making process and the implementation process for the strategic decision being made as it provides closed-loop assessment for continuous improvement of the decision in the long run. Align the implementation strategies, processes and Key performance indicators with criteria and assumptions used in strategy formulation or development and in sourcing /outsourcing decision process. STANDARDIZED OUTSOURCING PROCESS FLOW IN FMCG INDUSTRY Stage Key Activities Rough Timeline BU Role COE Role Opportunity Consideration Align on business need gain mgmt commitment to evaluate options Identify options to consider (e.g., internal cost savings, consolidation, off-shoring, outsourcing) Perform Options Analysis / Size of Prize (not detailed financial analysis) If potential for outsourcing, contact outsourcing COE for support NA PR PR PR PR C C Evaluation Team Kick-Off Establish small team to perform preliminary evaluation of outsourcing (Project Mgr/Business Mgr, Deal Mgr, Purchases Mgr, FA Mgr, HR Mgr, External Rel.) 1-2 wks PR C Initiate Evaluation Project Agree on top-line preferred deal parameters with OS COE (e.g., general scope boundaries, sell all vs. partial assets) Develop Keep Price Analysis using the CBA model (COE website) Develop preliminary project success criteria Develop preliminary project process, timing and critical path Consider advisory needs (e.g. external consultants, legal support) Consider need for employee communication pre-market evaluation activity Confirm business management alignment support to evaluate the option 1-4 wks SR SR SR SR C SR PR SR SR SR SR PR SR C Market Evaluation/Discovery Analyze market and identify potential suppliers (e.g., market position, capabilities, potential for savings monetization) Develop supplier materials (cold call message operation review presentation) Meet with suppliers (generally worth meeting w/up to 10 or so if available) Evaluate findings of visits and determine potential for outsourcing RFI may go out as part of typical assessment activity 4-8 wks PR PR C SR C C PR SR Decision to Pursue Outsourcing Refine project objectives, scope, etc. (w/knowledge of market evaluation) Prepare recommendation to pursue outsourcing Gain management approval per Decision Authority PRIOR to RFP Determine the small group of suppliers to be engaged in an RFP (3-4 ideally) Execute CDAs with these suppliers Expand project team (RFP leader, Legal, Administrative support, etc) Develop communication plan communicate to employees if not yet been done Base Case Financials 2-3 wks PR PR PR SR PR PR C C C SR PR C C RFP Development Draft and gain approval to RFP Develop RFP timeline (release date, supplier engagements, site visits, submittal date) Release RFP and instructions to suppliers 4-6 wks PR C PR TPO PR TPO RFP Process Execution Perform step-by-step RFP completion process w/suppliers (e.g., RFP review session, electronic QA cycle, preliminary solution review) Receive review bids, and execute formal solution walk-thru process Get revised bids and perform evaluation (operational, HR, financial) 4-8 wks SR SR SR SR SR SR Downs elect Process Develop recommendation to down select to 1 or 2 suppliers (keep 2 suppliers ideally to maintain competitive environment) Get management agreement 1-2 wks PR PR C C Due Diligence Conduct due diligence as required (us on suppliers; suppliers on us) 1-2 wks PR TPO Final Bids Provides suppliers with draft contract Request Best Final Offers (if appropriate) 1-2 wks C C PR PR Negotiations and Contract Signing Negotiate detailed price and contract terms (w/2 suppliers as long as possible) Align on final down select Get management approval Finalize internal and external communication plans (with External Relations) Sign contract and execute related communications 4-6 wks C PR PR PR PR PR C TPO C C Transition and Closing Put full transition team in place Execute required transition steps (including road shows, job offers, etc) Develop and execute companion agreements in other countries Execute closing Prepare deal files 4-12 wks PR PR SR PR SR PR PR Primarily Responsible Total Time Required* SR Shared Responsibility 5 10 months (ex Transition) C Contributor 6 12 months (w/Transition) TPO Technical Process Oversight * will vary based on project scope Problem Statement The rapidly changing global industrial environment, cost of working capital, research and innovation, releasing key internal resources, concentrating on Core business functions, obtaining better organizational form has significant impact on outsourcing decision making in FMCG industry of Pakistan. Hypothesis H1: Outsourcing activities are increasing day by day in FMCG Industry of Pakistan. H2: FMCG industries are Outsourcing in all areas of their business not only manufacturing operation. H3: FMCG industries are Outsourcing to reduce Operating cost. H4: FMCG Industries are outsourcing to increase concentration on their core business. H5: FMCG Industries are outsourcing to Improve Quality of Services. H6: FMCG Industries are outsourcing to Acquire Specialized expertise and knowledge H7: FMCG industries are focusing on Selective Outsourcing. H8: FMCG industries have midterm Outsourcing contracts. H9: FMCG industries make Outsourcing contracts with good reputable companies. H10: FMCG industries make Outsourcing contracts with companies that produce at lower cost. H11: FMCG industries make Outsourcing contracts with companies that have advance technology and management experience. H12: Losing control of the certain business is the major concern in FMCG industries to make Outsourcing contracts. H13: Increasing dependence with outsourcers is the major concern in FMCG industries to make Outsourcing contracts. H14: Difficult to bring in source after conflicts is the major concern in FMCG industries to make Outsourcing contracts. H15: Disclosure of commercial secrets is the major concern in FMCG industries to make Outsourcing contracts. H16: Conflict of Interest with outsourcing partner is the major concern in FMCG industries to make Outsourcing contracts. Outline of the Study The research structure based on five chapters as follows: Introduction about the Outsourcing and FMCG industry. The literature review had provided theoretical background of the research and cites author had previously researched on the topic of factors affecting outsourcing decision The research methods chapter included method of data collection, statistical technique and hypothesis development. The results chapter had included findings and interpretation of the results. The conclusion, discussions, implications and recommendation section provided the final logical analysis. Definitions Outsourcing Outsourcing is an agreement in which any task; operation, job or process that could be performed by employees within an organization, but is instead contracted to a third party for a significant period of time-one Company provides services for another company that could also be or usually have been provided in-house. FMCGs   It is an acronym for  Fast Moving Consumer Goods. It is defined as fast selling, low unit value  consumer products  normally in universal  demand. It includes categories like foods, soft  drinks, toiletries, cosmetics and other non-durables. CHAPTER 2: LITERATURE REVIEW Most of the companies that were struggling to increase the capacity to support the ramp up demand at times were upset when there was a drastic downturn of demand cut. As a result, the sudden downturn would affect the resources and investment that were put into supporting the end customers demand. Team of human resources and machineries that consumed production space and being idled would increase the overhead and fixed cost, thus affecting the companies badly in their financial statements. In addition, training and development to up skill internal resource skills set in terms of running the operation effectively, bringing up technical content expert, specialist ability to perform research and development to add value, effective management and maintaining the operation would require significant investment in human resources (David Mackey and Kaye Thorne, 2003). Thus, most of the companies started to explore opportunities to reduce cost and to improve profit margin in order to maintain competitive edge in the market. One of the identified opportunities was to outsource non-core business functions to external service providers at a lower operating cost. Outsourcing decisions are those strategic decisions that change the operations strategy of an organization both in manufacturing and services. The most important step in any outsourcing decision is to clearly define the scope of the operations that are being considered for outsourcing (Cook, Mary, F. and Gildner, Scoot B. 2008). Human resource professionals throughout the world are being asked to do more or less, to enhance productivity while controlling costs and to find out new ways to increase profitability. (Uddin, Gazi, M. 2005). Outsourcing is not a new notion. For decades, jobs have been migrated from other part of the countries namely American and European countries as well as other overseas countries to global service providers primarily India, China, Singapore and Malaysia due to lower operating cost. According to Cynthia A. Kroll (2004), a regional economist from University of California Berkeley, the recent wave of outsourcing affected a different mix of jobs, at different wage levels. It was not confined only to a small set of industries but cut across all industrial sectors in new geographic area rapidly (Cynthia A. Kroll, 2004). William P. DiMartini (2005), Senior Vice President at SunGard Availability Services said businesses in all industry segments found that limited internal resources would make outsourcing an attractive, cost-effective and prudent option that would allow them to focus on their core competencies (AccountingWEB.com, 2005). Demand for outsourcing is a result of demand for organizational products by the target audience. On the basis of organizational estimate of total turnover, practicing managers can attempt to establish the nature and type of outsourcing required to that esteemed goal (Uddin, Gazi M. 2005). Outsourcing advantages to name a few include lower operating cost, improve competitiveness, low in capital investment, shift resources to focus on core functions, generate demand for new growth and market segment, access to world class capability, sharing risks and make capital funds available for core business investment. Bangladesh is a least developed country, basically an agrarian economy, having around 24 million acres of cultivated land, employing about 14.5 million cultivators. Manufacturing industries have grown around Dhaka and Chittagong based on agriculture input of jute, cotton, chemical and gas based industries. Industrial production growth has averaged more than 6% over the last 5 years. The export sector has been the engine of industrial growth, with ready-made garments leading the way, having grown at an average of 30% over the last 5 years. Primary products constitute less than 10 percent of the countrys exports; the bulk of exports are manufactured/processed products, ready-made garments and knit wears in particular. (www.euroitx.com) There are many manufacturing concerns in Bangladesh that are looking into outsourcing opportunity to reduce cost and to overcome the internal limitations and achieve lower cost of operation. The country is now moving towards industry based economy from the agro-based one. Hence, this study was an attempt to access determinants influencing the outsourcing decision and to research the manufacturing concern in Bangladesh on how well the factors would influence the manufacturing industry in Bangladesh to outsource certain function of their business areas to external service providers. The study also aimed at finding out the influencing factors that influenced the companies in outsourcing decision and helped the companies to overcome the internal limitation barriers. In the early 1980s, outsourcing typically referred to the situation while organizations expanded their purchases of manufactured physical inputs, like car companies that purchased window cranks and seat fabrics from outside the firm rather than making them inside. Nowadays, outsourcing took on a different meaning. Presently it refers to a specific segment of the growing international trade. This segment consists of arms-length, or what Bhagvati (1984) called long-distance purchase of services abroad, principally, but not necessarily, via electronic mediums such as the telephone, fax and the Internet. Outsourcing can happen both though transactions by firms, like phone call centers staffed in Bangalore to sen7e customers in New York and X-rays transmitted digitally from Boston to be read in Bombay, or with direct consumption purchases by individuals, like when someone hires an offshore firm to provide plans for redesigning or redecorating a living room (Bhagwati, J. et al. 2004) In an era of rapid technological change and short product life cycles, companies were trying to reduce cost and maintain quality at the same time which implied that companies would need to specialize in what they did best and de-emphasize management attention from business processes that did not directly impact the business. Outsourcing was a means to partner with service providers so they could handle specific business processes better, faster and at a lower operating cost (V. Krishna Polineni, 2001). It was defined as the transferring one or more internal functions of an organization to an external service providers. According to the analyst Dean Davison, the outsourcing was growing about 20 percent to 25 percent per annum (Dean Davison, 2006). Outsourcing has become an alternative, which all major corporations must consider in order to remain competitive. It helped to increase efficiency, improve service quality, accountability, values, decreased headcounts and cash infusion and gain access to world class capability and sharing risk (The Outsourcing Institute, 2006). One of the primary advantages of outsourcing arises quickly from the reduction of overheads. This might give rise to an immediate, and possibly one-off, advantage in terms of the avoidance of future or recurrent capital outlay, and the savings in office space and equipment provisions if these could be released during the outsourcing decision. There was clearly a staff cost reduction possible here, and this could be the predominant element in directly-attributable, ongoing cost savings. The spin-off from this might benefit the business support services department where the outsourcing was partial, and could be especially useful where the capital cost was high and recurrent, particularly if there was uncertainty about the future costs of maintaining effective and competitive business support. It was an investment risk transfer, in other words. Where outsourcing is total, the benefit was accrued directly by the core business it translated to a capital injection to the customers busines s. This was one of the major driving reasons of the outsourcing of IT provision in the early 1990s generally agreed as having been led in 1989 by Kodak, which outsourced all of its IT operations to IBM (Jonathan Reuvid and John Hinks, 2001). This could also confer a great deal of flexibility on the company. For a centralized organization which was providing a range of its support services from its own personnel and offices, the move to outsourcing could allow a downsizing of the property commitments. Consider the impact on the organizational infrastructure requirements of a change to outsourcing IT provision, payroll and credit processing, pensions, catering, recruitment, training, Human Resource Management (HRM), cleaning, security, lettings, software development, estates and building management. It could also confer direct scope for downsizing or increased options for organizational re-structuring through property and HRM flexibility. The transfer of a non-core service provision to a variable cost would allow economies of scale to be passed on from the supplier, and also would mean that incremental changes in the process capacity of the customer (upwards or downwards) could be covered at proportional rather than quantum cost changes. Where scope to vary the scale of the contracted supply was agreed, this has allowed the business organization to make maximum use of its marginal capital for core process change rather than non-core process support change. This could allow decreased time to market for new products or processes, and also increased scope for changes. Outsourcing solutions can provide an excellent chance to get the company service provision out of a rut and, if properly managed, to stimulate new solutions to problems from the mixing of different approaches. A noticeable feature of the global economy is the enhancing international products. Robert Feenstra (1998) describes the remarkable international specialization in the manufacturing products. For example, the raw materials of manufacturing products like Barbie dolls (plastic and hair) are obtained from Taiwan and Japan. Assembly used to be done in those countries as well as to lower cost locations like Philippines, Indonesia, Malaysia, and China. The growth in international specialization can also be observed in aggregate statistics. William Zeile and Gorden Hanson et al (2003) document the importance of trade within multinational firms. David Hummels et al. (2003) show that trade in intermediate inputs has grown faster than trade in finished products. While the globalization of production may yield important productivity benefits, there is a widespread view that it has also adversely affected low skilled workers. There are frequent media reports on how low-skilled labors in the firs t world countries are hurt when manufacturing jobs are relocated in the US and in many other countries have picked up on this theme to push for greater restrictions on trade with developing countries. Yet, despite its prominence in the public debate, there is little systematic evidence of the extent to which low-skilled workers are harmed by outsourcing to poor countries (Hsieh, Chang T. and Woo, Keong T., 2005). Outsourcing has existed in the USA for over 30 years particularly the business process outsourcing (BPO). The Bank of America, Best Buy, Delta Airlines, Goodyear, IBM, the Marriott, Motorola, PepsiCo, Procter Gamble, and Sun Microsystems are all outsourcing HR functions. US federal and state governments also spend billions each year doing so also. HR functions are not just being outsourced, they are being sent offshore. The US companies have off-shored their manufacturing and their RD facilities in their semiconductors, computing, chemicals and pharmaceuticals to the UK, Germany, France, Ireland and other developed countries (www.shrm.org). In view of developing countries, outsourcing takes place more recently to India and China. In 2003, 1.5 million service jobs were outsourced to the developing world and the number was projected to surge to 4.1 million by year 2008 (Elmillian Chew Saint Fey, 2005). According to the Offshore Location Attractiveness Index published by AT Kearny (2004), Malaysia, an emerging South East Asian nation, was the third most desirable location for offshore outsourcing in the world, after India and china. In Malaysia, the demand for outsourcing was not only from global multi-national companies but also from local companies. The demand for outsourcing was driven by the fact that companies could access a more reliable infrastructure that could ensure smooth core business operations at lower costs and with greater flexibility. Outsourcing also encouraged the pooling of resources for a more efficient use of resources to reap the benefits that could be derived from economies of scale. Bangladesh has potential in outsourcing in its competitive business environment with a relatively low cost structure as well as support from the government and non-government organizations. In view of outsourcing demand, Bangladesh could be very well take advantage of this fact by attracting quality outsourcing operators to the country. The availability of quality resources especially in the private sector to support the outsourcing demand, this could be made available to support off-shore and local outsourcers. HR outsourcing organizations in Bangladesh are in stage of booming up and most of the organizations have realized that they should play more attention to networking activities. Uddin, Gazi M. (2005) describes the challenges and prospects of effective HR outsourcing for managerial activities in the corporate world of Bangladesh. The study reveals that networking activities play a strong role in HR outsourcing and duration of outsourcing is temporary. The study mainly focused on HR outsourci ng, not on the factors influencing outsourcing decisions. Literature review shows that several comprehensive studies have been conducted in the world regarding outsourcing specifically HR outsourcing, general time management, managerial jobs, and managerial behavior and so on. But no significant study in the light of this research has been found. It is not claimed by the researche

Herman Melvilles Billy Budd - The Tragedy of Billy Budd :: Herman Melville Billy Budd Essays

The Tragedy of Justice in Billy Budd Charles Reich's assessment of the conflict in Billy Budd focuses on the distinction between the laws of society and the laws of nature. Human law says that men are "the sum total of their actions, and no more." Reich uses this as a basis for his assertion that Billy is innocent in what he is, not what he does. The point of the novel is therefore not to analyze the good and evil in Billy or Claggart, but to put the reader in the position of Captain Vere, who must interpret the laws of both man and nature. Reich supports Vere's decision to hang Billy. In defense of this he alludes to a famous English court case, in which three men were accused of murder. However, the circumstances which led them to murder were beyond their control; they had been stranded at sea and forced to kill and eat their fourth companion, who had fallen ill and was about to die anyway. The Judge, Lord Coleridge, found them guilty because "law cannot follow nature's principle of self-preservation." In other words, necessity is not a justification for killing, even when this necessity is beyond human control. Since Billy is unable to defend himself verbally, he "responds to pure nature, and the dictates of necessity" by lashing out at Claggart. I agree with Reich's notion that Vere was correct in hanging Billy, and that it is society, not Vere, who should be criticized for this judgement; for Vere is forced to reject the urgings of his own heart and his values to comply with the binding laws of man. First, the moral issue aside, Captain Vere had no choice but to convict Billy. As captain of a ship under pressure of war and the constant threat of mutiny, Vere had to act swiftly. Also, as captain, Vere had the responsibility of making sure the laws were strictly enforced, including the Mutiny Act. Although Vere knew in his heart Billy was innocent, Billy's actions had to be punished. For Vere to have acquitted Billy would mean that he had placed the divine law of nature above the laws he was bound to enforce as captain of a

Cultural Diversity in Nibelungenlied, Beowulf, and Gilgamesh :: comparison compare contrast essays

Cultural Diversity in The Nibelungenlied, Beowulf, and Gilgamesh Cultural diversity is something that mankind has experienced since the dawn of time. Different cultures and different people have different views on the same issues, and it all adds to the diversity that is life. It shows that there is something for everybody. For the most part, there is no one person saying that everyone has to be this or follow that. A person's culture is determined on how they are brought up, what country they live in, how their parents were raised, and what the people around them do and believe in. The differences in culture is what caused people of later time to believe in more that one God, something that, for the most part, is unheard of today. It lead to Feudalism and the divine right to the throne. Different people are brought up to think different things, and the things people learn as a child stick with them forever. Culture is also based on choice, and every person has the choice to do whatever makes them happy. So much is know about culture now becaus e it has been recorded in books such as Gilgamesh, Beowulf, and The Nibelungenlied. Three different books displaying cultural views from three different time periods. And it is with works like these that modern scholars and historians can examine what the people and times were like back then. Two books with a similar time period were those of The Nibelungenlied and Beowulf, both placed in 6th century Europe, one based in England and the other in Germany. Both cultures had a history of war, almost a passion for it. The English had no fear for what they might battle, and knew the consequences like every skilled knight should: "However great an army we take, the Queen has such dreadful ways that they would all have to die through her arrogance." (The Nigelungenlied, Ch. 6, pg. 54) But knights had to know the risk involved in being one of the best, and the sacrifices that needed to be made to put their country on top. And it has been shown that both cultures took pride in their work: "Then the king ordered eight gold-bridled horses to be led onto the floor, into the enclosure; on one of them was a saddle skillfully decorated, ornamented with jewels." (Beowulf, lines 1036-1038). It can be seen in both Beowulf and The Niblungenlied that the quest for expansion of one's country is one of importance.

Negative Effects of Technology Depicted in Aldous Huxleys Brave New Wo

Negative Effects of Technology Depicted in Aldous Huxley's Brave New World Imagine a life where the technology is so great that no one ever has to be worried about being sad or bothered by all the day to day stress. In Brave New World published in 1932, Aldous Huxley brings the reader into the future of London to see just what technology can do to a society. As the novel opens, the reader learns about how the futuristic London is a Utopia, what life is like, and all about the great technological advancements. After Bernard is introduced to the reader, he goes to the Reservation and meets John, the Salvage, where he finds out how different life is between the two societies. In the end, the Controller Mustapha Mond sends Bernard and John away from London so the stability of the society will not be affected by the truth of "real freedom." Throughout the novel, Huxley portrays a dystopia through the settings, its characters and the theme. Dystopia is displayed by the speech, thoughts, and actions of the character whereby the reader learns that London is not perfect in every way, shape or form. The futuristic London has its flaws as is shown by Bernard and John. The narrator says, "Talking about [Lenina] as though she were a bit of meat.' Bernard ground his teeth" (53). At this point, Bernard is upset with two controllers because they are talking about having sex with a girl. In London, since there are no mothers or fathers, they have no idea what the meaning of love is so they have sex as if it were a game. In this scene, Bernard is upset at the fact that they are talking about this girl in such a manner that shows no respect for her. It is as if he has some kind of feelings for the girl even though he is not supposed to have ... ...an take soma to heal everything quickly. Huxley portrays this as not true happiness or freedom. Technology, it seems, is so great that people are enslaved by it. The futuristic London is supposed to be the perfect place- the Utopia of the future. Throughout the novel, Huxley portrays London as a dystopia instead of a Utopia by using theme, characters and setting. The advancement in the technology no longer lets people experience the finest things in life- emotions. The true meaning of life has been transformed to make London the perfect place, but it is perfect only to the slaves who are a part of it. One message that Huxley is trying to impart to the reader is technology is good, but too much technology can ruin the world that people live in today; it becomes all encompassing towards its own goals. Huxley, Aldous. Brave New World. New York: Harper & Row 1946. Negative Effects of Technology Depicted in Aldous Huxley's Brave New Wo Negative Effects of Technology Depicted in Aldous Huxley's Brave New World Imagine a life where the technology is so great that no one ever has to be worried about being sad or bothered by all the day to day stress. In Brave New World published in 1932, Aldous Huxley brings the reader into the future of London to see just what technology can do to a society. As the novel opens, the reader learns about how the futuristic London is a Utopia, what life is like, and all about the great technological advancements. After Bernard is introduced to the reader, he goes to the Reservation and meets John, the Salvage, where he finds out how different life is between the two societies. In the end, the Controller Mustapha Mond sends Bernard and John away from London so the stability of the society will not be affected by the truth of "real freedom." Throughout the novel, Huxley portrays a dystopia through the settings, its characters and the theme. Dystopia is displayed by the speech, thoughts, and actions of the character whereby the reader learns that London is not perfect in every way, shape or form. The futuristic London has its flaws as is shown by Bernard and John. The narrator says, "Talking about [Lenina] as though she were a bit of meat.' Bernard ground his teeth" (53). At this point, Bernard is upset with two controllers because they are talking about having sex with a girl. In London, since there are no mothers or fathers, they have no idea what the meaning of love is so they have sex as if it were a game. In this scene, Bernard is upset at the fact that they are talking about this girl in such a manner that shows no respect for her. It is as if he has some kind of feelings for the girl even though he is not supposed to have ... ...an take soma to heal everything quickly. Huxley portrays this as not true happiness or freedom. Technology, it seems, is so great that people are enslaved by it. The futuristic London is supposed to be the perfect place- the Utopia of the future. Throughout the novel, Huxley portrays London as a dystopia instead of a Utopia by using theme, characters and setting. The advancement in the technology no longer lets people experience the finest things in life- emotions. The true meaning of life has been transformed to make London the perfect place, but it is perfect only to the slaves who are a part of it. One message that Huxley is trying to impart to the reader is technology is good, but too much technology can ruin the world that people live in today; it becomes all encompassing towards its own goals. Huxley, Aldous. Brave New World. New York: Harper & Row 1946.

Final Exam: Corporations Essay

Question 1: Buttercup Corporation issued 250 shares of $11 par value common stock for $4,125. Prepare Buttercup’ journal entry. Question 2: Wilco Corporation has the following account balances at December 31, 2012. Common stock, $5 par value $511,670 Treasury stock 95,260 Retained earnings 2,400,840 Paid-in capital in excess of par 1,320,150 Prepare Wilco’s December 31, 2012, stockholders’ equity section Question 3: Woolford Inc. declared a cash dividend of $1.38 per share on its 2.22 million outstanding shares. The dividend was declared on August 1, payable on September 9 to all stockholders of record on August 15. Prepare the journal entries necessary on those three dates. Question 4: The outstanding capital stock of Pennington Corporation consists of 3,100 shares of $109 par value, 6% preferred, and 5,700 shares of $52 par value common. Assuming that the company has retained earnings of $83,000, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions. Question 5: Martinez Company’s ledger shows the following balances on December 31, 2012. 5% Preferred stock-$10 par value, outstanding 22,480 shares $224,800 Common stock-$100 par value, outstanding 33,720 shares 3,372,000 Retained earnings 708,120 Assuming that the directors decide to declare total dividends in the amount of $298,984, determine how much each class of stock should receive under each of the conditions stated below. One year’s dividends are in arrears on the preferred stock. Question 6: On January 1, 2012, Barwood Corporation granted 5,040 options to executives. Each option entitles the holder to purchase one share of Barwood’s $5 par value common stock at $50 per share at any time during the next 5 years. The market price of the stock is $72 per share on the date of grant. The fair value of the options at the grant date is $154,000. The period of benefit is 2 years. Prepare Barwood’s  journal entries for January 1, 2012, and December 31, 2012 and 2013. Question 7: Rockland Corporation earned net income of $340,800 in 2012 and had 100,000 shares of common stock outstanding throughout the year. Also outstanding all year was $908,800 of 10% bonds, which are convertible into 18,176 shares of common. Rockland’s tax rate is 40 percent. Compute Rockland’s 2012 diluted earnings per share. Question 8: DiCenta Corporation reported net income of $250,000 in 2012 and had 50,000 shares of common stock outstanding throughout the year. Also outstanding all year were 5,410 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. DiCenta’ tax rate is 40%. Compute DiCenta’ 2012 diluted earnings per share. Question 9: Ferraro, Inc. established a stock appreciation rights (SAR) program on January 1, 2012, which entitles executives to receive cash at the date of exercise for the difference between the market price of the stock and the pre-established price of $24 on 5,050 SARs. The required service period is 2 years. The fair value of the SAR’s are determined to be $6 on December 31, 2012, and $13 on December 31, 2013. Question 10: Hillsborough Co. has an available-for-sale investment in the bonds of Schuyler with a carrying (and fair) value of $88,020. Hillsborough determined that due to poor economic prospects for Schuyler, the bonds have decreased in value to $57,020. It is determined that this loss in value is other-than temporary. Prepare the journal entry, if any, to record the reduction in value. Question 11: Capriati Corporation made the following cash purchases of securities during 2012, which is the first year in which Arantxa invested in securities. 1. On January 15, purchased 11,700 shares of Gonzalez Company’s common stock at $43.55 per share plus commission $2,574. 2. On April 1, purchased 6,500 shares of Belmont Co.’s common stock at $67.60 per share plus commission $4,381. 3. On September 10, purchased 9,100 shares of Thep Co.’s preferred stock at $34.45 per share plus commission $6,383. On May 20, 2012, Capriati sold 3,900 shares of Gonzalez Company’s common stock at a market price of $45.50 per share less brokerage commissions, taxes, and fees of $3,705. The year-end fair values per share were: Gonzalez $39.00, Belmont $71.50, and Thep $36.40. In addition, the chief accountant of Capriati told you that Capriati Corporation plans to hold these securities for the long term but may sell them in order to earn profits from appreciation in pri ces. Question 12: (Journal Entries for Fair Value and Equity Methods) Presented below are two independent situations. Prepare all necessary journal entries in 2012 for each situation. Situation 1 Hatcher Cosmetics acquired 10% of the 207,400 shares of common stock of Ramirez Fashion at a total cost of $15 per share on March 18, 2012. On June 30, Ramirez declared and paid a $80,200 cash dividend. On December 31, Ramirez reported net income of $123,500 for the year. At December 31, the market price of Ramirez Fashion was $18 per share. The securities are classified as available-for-sale. Situation 2 Holmes, Inc. obtained significant influence over Nadal Corporation by buying 25% of Nadal’s 30,800 outstanding shares of common stock at a total cost of $9 per share on January 1, 2012. On June 15, Nadal declared and paid a cash dividend of $43,800. On December 31, Nadal reported a net income of $90,500 for the year. Question 13: (Equity Method) Gator Co. invested $1,380,000 in Demo Co. for 25% of its outstanding stock. Demo Co. pays out 40% of net income in dividends each year. Use the information in the following T-account for the investment in Demo to answer the following questions. Question 14: (Fair Value and Equity Method Compared). Gregory Inc. acquired 20% of the outstanding common stock of Handerson Inc. on December 31, 2012. The purchase price was $1,320,000 for 50,000 shares. Handerson Inc. declared and paid an $0.87 per share cash dividend on June 30 and on December 31, 2013. Handerson reported net income of $741,000 for 2013. The fair value of Handerson’s stock was $32 per share at December 31, 2013. Question 15: (Call Option). On January 2, 2012, Jones Company purchases a call option for $450 on Merchant common stock. The call option gives Jones the option to buy 1,000 shares of Merchant at a strike price of $50 per share. The market price of a Merchant share is $50 on January 2, 2012 (the intrinsic value is therefore $0). On March 31, 2012, the market price for Merchant stock is $60 per share, and the time value of the option is $200. Question 16: In 2012, Amirante Corporation had pretax financial income of $207,000 and taxable income of $166,400. The difference is due to the use of different  depreciation methods for tax and accounting purposes. The effective tax rate is 40%. Compute the amount to be reported as income taxes payable at December 31, 2012. Question 17: At December 31, 2012, Fell Corporation had a deferred tax liability of $732,802, resulting from future taxable amounts of $2,155,300 and an enacted tax rate of 34%. In May 2013, a new income tax act is signed into law that raises the tax rate to 42% for 2013 and future years. Prepare the journal entry for Fell to adjust the deferred tax liability. Question 18: AMR Corporation (parent company of American Airlines) reported the following for 2009 (in millions). Service cost $405 Interest cost on P.B.O 736 Return on plan assets 825 Amortization of service cost 29 Amortization of loss 66 Compute AMR Corporation’s 2009 pension expense (in millions). Question 19: For Warren Corporation, year-end plan assets were $2,094,700. At the beginning of the year, plan assets were $1,762,400. During the year, contributions to the pension fund were $120,000, and benefits paid were $200,000. Compute Warren’s actual return on plan assets. Question 20: For 2010, Campbell Soup Company had pension expense of $48 million and contributed $296 million to the pension fund. Prepare Campbell Soup Company’s journal entry to record pension expense and funding. Question 21: Lahey Corp. has three defined-benefit pension plans as follows. Pension Assets (at Fair Value) Projected Benefit Obligation Plan X $637,500 $504,000 Plan Y 902,200 739,900 Plan Z 584,600 713,200 How will Lahey report these multiple plans in its financial statements? Question 22: For 2012, Sampsell Inc. computed its annual postretirement expense as $278,680. Sampsell’s contribution to the plan during 2012 was $185,750. Prepare Sampsell’s 2012 entry to record postretirement expense. Question 23: Wertz Corporation decided at the beginning of 2012 to change  from the completed-contract method to the percentage-of-completion method for financial reporting purposes. The company will continue to use completed-contract method for tax purposes. For years prior to 2012, pre-tax income under the two methods was as follows: percentage-of-completion $143,000, and completed-contract $65,800. The tax rate is 32%. Prepare Wertz’s 2012 journal entry to record the change in accounting principle. Question 24: In 2012, Bailey Corporation discovered that equipment purchased on January 1, 2010, for $50,000 was expensed at that time. The equipment should have been depreciated over 5 years, with no salvage value. The effective tax rate is 29%. Prepare Hiatt’s 2012 journal entry to correct the error. Question 25: At January 1, 2012, Beilder Company reported retained earnings of $2,027,300. In 2012, Beilder discovered that 2011 depreciation expense was understated by $442,300. In 2012, net income was $931,270 and dividends declared were $204,310. The tax rate is 38%. Complete the 2012 retained earnings statement for Beilder Company. Question 26: Simmons Corporation owns stock of Armstrong, Inc. Prior to 2012, the investment was accounted for using the equity method. In early 2012, Simmons sold part of its investment in Armstrong, and began using the fair value method. In 2012, Armstrong earned net income of $81,100 and paid dividends of $90,400. Prepare Simmons’s entries related to Armstrong’s net income and dividends, assuming Simmons now owns 11% of Armstrong’s stock. Question 27: Manno Corporation has the following information available concerning its postretirement benefit plan for 2012. Service cost $53,750 Interest cost 58,360 Actual return on plan assets 40,190 Compute Manno’s 2012 postretirement expense Question 28: Ravonette Corporation issued 310 shares of $13 par value common stock and 130 shares of $47 par value preferred stock for a lump sum of $17,500. The common stock has a market price of $22 per share, and the preferred stock has a market price of $98 per share. Prepare the journal entry to record the issuance Question 29: Garfield Company purchased, as a held-to-maturity investment, $82,400 of the 9%, 8-year bonds of Chester Corporation for $73,919, which provides an 11% return. Prepare Garfield’s journal entries for (a) the purchase of the investment and (b) the receipt  of annual interest and discount amortization. Assume effective interest amortization is used. Question 30: Clydesdale Corporation has a cumulative temporary difference related to depreciation of $606,600 at December 31, 2012. This difference will reverse as follows: 2013, $43,100; 2014, $264,300; and 2015, $299,200. Enacted tax rates are 34% for 2013 and 2014, and 40% for 2015. Compute the amount Clydesdale should report as a deferred tax liability at December 31, 2012