Managing Employee Relations in Contemporary Organisations Essay - 2

Managing Employee Relations in Contemporary Organisations - Essay Example 201). The modern approach to employee relations is people management. The employees to the organization were employed based on their skill and as part of a team that would meet the requirements of the organization (Kessler and Purcell, 2003, p. 28). Human management as a style that is used by the ACME organization concentrates on the skills that an individual brings into the company (Legge, 2005, p.102). Prior to securing a job with the company, it is important that what the employee brings to the table is analyzed and this is part of the enrolment (Purcell, 1987, p. 29). The company has stringent policies on which employees it employs, a fact that is expressed in different settings such as when referring to family, (Legge, 1995, p. 99), i.e. potentially some members may feel offended if they cannot get their friends/family in but so be it. We will never compromise the arrangement that we will go for the best person for the job. But with 500 people there are going to be individuals, but relatively few, we wouldn't recruit again. If one of these few recommended friends/family we would look, but look very carefully. The company has also adopted a structure that is based on personal and team responsibilities within the organization, which differ from any trade union system of operation. The organisation’s policy on performance and pay states that, If somebody is not performing they get told about it. We have annual appraisal and salary is directly linked to contribution across a number of factors, so people get a message both financially and otherwise across the table from the manager at the appraisal, if not at other times of the year, which does not include any responsibilities to any party or individual outside the organisation. The system used is analytical based on the quality an individual brings to the company (Salamom, 2000, p. 291). The approach to management takes on a modern management style that gives employees roles, responsibilities as well as a supervisor to answer to in the course of their employment. The approach means that individual contributions to the company are looked into during the running of ACME. The management considers the goals set by management, in terms of economics, finances, growth, marketing and advertising among others (Williams and Adam-Smith, 2009, p. 102). Although the system makes use of preset performance requirements, the company ensures that it appreciates the efforts put in by the employees at any one given time in every position as it is stated by the company as directly linked to a number of factors contributing to outcomes in the financial and other concepts. 2. Critically discuss why they use this approach (cite evidence from both the case study and academic literature to justify this discussion). The performance of employees in the organisation is an important goal and objective driven element of analysis. The chosen employee management style in relations allows the management to keep t rack of the growth of the organisation on an overall state as well as in the personal concept. The style emphasizes the fact that individual workers are the unit by which the ACME organisation operates. By choosing the individualistic approach to employee relations, the organisation

Smiths Group SWOT and PESTLE Analysis

Smiths Group SWOT and PESTLE Analysis Introduction: Smiths Group was first established as a family clock and watch business in 1851 by its founder Samuel Smith. Later in 1944 S. Smiths Sons (Motor Accessories) public limited company was formed with four divisions including motor accessories, aircraft instruments, industrial instruments and English clocks. In 1958 aircraft instruments combined with Kelvin Hughes, establish aviation and marine divisions. Company acquires Portland Plastics and Surgical Plastic in the same year (1958). Industrial division was established in 1960 which was concerned with the industrial instruments. In 1965 company changes its name to Smiths industries in 1965. (Detail history of company is listed out in appendices-1). (http://web.ebscohost.com/ehost/results) In July 2008, Smiths Group announced the acquisition of Triasx, a Brisbane-based wireless communications components manufacturer. In the same month, Smiths Detection opened a high-tech production plant in Germany designed to meet the soaring global demand for its advanced x-ray scanning machines. In September 2008, Smiths Group announced the sale of an eight acre former operational site in Basingstoke, Hampshire for  £16 million (approximately $32 million). In the same month, Smiths Medical developed a unique wireless blood pressure monitor using Bluetooth technology which is set to transform the way medics treat critically ill patients in hospital. Later in the month, the group announced that its interconnect division won long-term design and supply contracts on US military communications programmes worth a potential  £225 million (approximately $450.1 million). In November 2008, Smiths Group announced the acquisition of Zhejiang Zheda Medical Instrument, the Hangzhou-based medi cal instruments manufacturer. In January 2009, John Crane announced that it won a new  £8 million (approximately $16 million) maintenance contract from upstream oil and gas exploration company Talisman Energy (UK). In the same year, the group opened its new headquarters in central London, completing a reorganization designed to increase customer focus and significantly cut costs. (http://web.ebscohost.com/ehost/results) Review and analysis of companys sector and company standing in sector, identify its main competitors: Smiths group provide services and products for medical devices, contraband detection, energy and communication market in more than 50 countries worldwide. Group mainly operates in UK, North America and continental Europe. There are four main divisions of group which are detection, medical, john crane, medical and specialty other. Group is operates with four governments and their agencies, petrochemical companies, hospitals and equipment manufacturers and service provider in different sectors around the world. Smiths Detection is one of world best manufacturers and designers of sensors that detects and identify narcotics, explosives, weapons, chemical agents, contraband and biohazards. Detection division helps customers in the global transportation, borders and ports, critical infrastructure, emergency responder market and military. This division provides services to the customs authorities, emergency responders, security authorities and homeland securities. Division is providing different services to US Transport Security Administration (TSA), UK ministry defense and airport security to BAA in UK. John Carne is another main profits contributing business of Smiths group Plc. It provides products and services for major process industries, which includes chemical, oil and gas companies, pharmaceutical, pulp and paper and mining sector. This division provides services to oil and gas companies, pump, refineries and compressors manufacturers. Main customers include China petroleum, Chevron, BP, Qatar gas, Saudi Amraco, Shell, Total, Dresser, Flowserve, Elliot, ITT, Mitsubishi, Solar Turines and many more. (John Crane to cut 90 at seal factory, Dawson, Brad, Rubber Plastics News; 11/17/2003, Vol. 33 Issue 8, p1-22, 2p) Medical division is one of top specialist supplier of medical devices and equipments for worldwide market. Divisions products like medication delivery, safety devices and vital care are market focused and helping in the treatment of cancer, diabetes and many other illnesses. Division has direct sales in twenty countries and has distribution channels in many other countries. Flex-Tek is another division of Smiths group plc. This division provides engineered components that heat and move fluids for the medical, aerospace, industrial, construction and domestic markets. It is also providing fluids for commercial aircraft and for motor sports fuel and hydraulic applications. It has manufacturing facilities in UK, France, Malaysia, China, India and Mexico. Company customers include Boeing, Electrolux, Carrier, Whirlpool, Trane Part Whitiney GE Aerospace, Airbus, Hoover, Dyson and Panasonic. (MARKET FOCUS, Velocci, Jr., Anthony, Aviation Week Space Technology; 9/29/2003, Vol. 159 Issue 13, p10-11, 2p, 1 Chart, 1 Graph) Following are the few major compotators of Smiths Group Plc. Detail competitors information can be found in appendix. EADS Goodrich Corporation GE Healthcare Flowserve Corporation L-3 Communications Holdings, Inc. 3M Company GE one of the big rival companies is trying to acquire Smiths Group Plc. for  £2.45 billion. If this acquisition is successful than group will lose one of its important division. Smiths Group competitors are making strategic move to take group out of business. For complete list of competitors see appendices-2) (Kanter Jake, Supply Management; 10/22/2009, Vol. 14 Issue 21, p7-7, 3/4p) Smiths Group is operating in highly competitive markets and in those markets competitors have more recourses than the group. Smiths Detection competes with L3 Security Detection Systems, GE Security, Nucteck and Rapiscan Systems. In the emergency responder and military market group main competitors are Bruker, Environics, General Dynamics and Canberra. John Crane is also operation in highly competitive environment. In Oil and Gas rotation technologies major competitors of John carne are Eagle Burgmann Industries, Flowserve, Ocborne Engineering Waukesha. In equipment in upstream energy division face competitors like Norris, Weatherford, Cameron, UPCO and Quinn. Medical division competes with well establish competitors like, Teleflex, Covidien, Becton Dickinson, Cardinal, Hospira, Vital signs, Medtronic and many more. Many small and medium size competitors are working are competing with Smiths Interconnect operations. Competitors of microwave sub system include Deutsch, Radiall, Amphenol and Souriau. Smiths group aerospace tubular systems competitors include Eaton and Parker- Hannifin. Heat solutions domestic appliance and specialty heating element competitors include Watlow, Emerson and Chromalux. In construction related operation group is facing competition from Hitachi, Omega-fex, Hart Cooley, Atco and Goodman. (MARKET FOCUS, Velocci, Jr., Anthony, Aviation Week Space Technology; 9/29/2003, Vol. 159 Issue 13, p10-11, 2p, 1 Chart, 1 Graph) PESTLE ANALYSIS: (P)OLITICAL: Smiths Group has good relationship with governments like, USA, UK, Europe, China, Russia and many others. Smiths group is involved directly in national security of UK and USA. Most of the group contracts are from governments and public sector. Smiths group products are used in detection, medical, oil gas, aviation and many other businesses as well. In order itself operation group has make sure that it deals with governments fairly otherwise it will be difficult for group to keep most of it business. Involvement in national security and defense should be carried out in such a manner that no confidentiality is breached. Change in political government may result in loss of contracts as new governments may not want to continue projects with the group. Change in government policies and tax rate changes will directly affect group profitability. (http://www.smiths.com/ar09/smiths_group.aspx) (E)CONOMICAL: According to IMF reports world economy will be in recession for 2009 and 2010. It is evidenced now that this economic recession was worse than expected. Economic recession will have negative effect on group revenues and group may have to redundant extra staff if this trend continues. (http://www.smiths.com/ar09/smiths_group.aspx) (S)OCIAL: Group is operating directly and indirectly in countries with different social and cultural backgrounds. Thus group has to make sure that it shouldnt work against the cultural and social values of that country. Group should develop such human resources strategies that it will result in motivation for their staff from different back grounds. (http://www.smiths.com/ar09/smiths_group.aspx) (T)ECHNOLOGICAL: Smiths group is operating in such a competitive environment that it has to change its procedures in such a manner it should remain market leader. Technology changes results in cost savings, time saving and resources saving thus eventually results in profits. Group has acquired many running business to have benefit of new market, products and technologies. (http://www.smiths.com/ar09/smiths_group.aspx) (L)EGAL: Group operations may result in law suits either from employee or from customers. Such losses can be big enough to have negative effects on profitability. Thus group should devise mitigation strategies like get insurance for losses etc. (http://www.smiths.com/ar09/smiths_group.aspx) (E)NVIRONMENTAL: Group should operate in such a manner that its operations should result in long term sustainable profits. Group operations are global and it operations will have massive impact on environment. Thus group must act to reduce negative impacts of its operations. Group must not consume all the available resources and must replace all consumed resources as it will bring sustainability to climate and help future generation to exist. (ACCA P3, 2010) SWOT ANALYSIS: Smiths Group one of the biggest technology group globally. Smiths group acquired many companies which brought synergies for the group. On the other hand acquisition also results in many inherent problems. (S)trengths Rapid inorganic growth: Group has acquired well established companies in different sectors which give them more capabilities to meet customer needs. Acquisition of Sartorius Bearing Technology (SBT) has improved group abilities to improve technological improvement and results in high performance rotating equipment for oil and gas industry. (Smiths Group buys six US companies in a year Professional Engineering; 5/25/2005, Vol. 18 Issue 10, p14-14, 1/5p) Strong geographical presences and good customer relations: Group is operating in more than fifty countries worldwide. Group has good relations with governments like US, UK and Europe. Group have contracts with the governments, big industries, hospitals and many other global companies. Smiths detections technology is used at nearly 80% of the worlds airports and 85% of its sales are influenced by the governments and their agencies. Capabilities: Group has strong abilities to develop new technologies. Investment in research and development is significant which is a indication of group commitment to the future organic growth of the business. Group has invested  £ 86 million in RD in financial year 2008, which was 8.9% more than the previous year. (W)eaknesses Poor cash management: As compare to 2007 group cash inflows in 2008 are declining. The net cash inflow from operating activities decreased by 19.5%, if this trend continues in future company will be struggling to pay its liabilities. Poor cash management indicates poor cost controls, inefficient management of resources and poor decision making by the management. High gearing: It is observed in the financial statements of the company that debt in 2008 have increased as compared to the 2007. There is 30.7% increase in debt which means company is relying more on debts than other cheap financing sources like equity and internally generated profits. High debts can result in less profits, compulsory interest payments, loss of investors trust and eventually loss of control because of collaterals. Competitors: Group is operating in highly competitive environment where it faces competition from global companies which have more resources than the group. Competitors like, EADS, Goodrich Corporation, GE Healthcare, Flowserve Corporation, L-3 Communications Holdings, Inc., 3M Company, Anaren, Inc., Amphenol Corporation and many more are well establish businesses. Thus in such an environment it is challenging for Smiths to survive and compete on prices. (O)pportunities Acquisitions: Group has acquired much well established business and it has given more opportunities to gain competitive advantages, access to, new technologies, and new markets, large number of customers and diversification to manage risks. Increasing product demands like, for detection and medical equipment: US medical market has an evidence of growth over the past few years and it is estimated that this trend will continue in future. Thus group has potential of growth in this market. Increased demand in tourism industry has resulted in much stronger rebound of air traffic in recent years than evidenced previously. Thus there is big potential for group to expend in this market and in all other product markets as well. (Smiths confident that growth will continue Massy-Beresford, Helen, Flight International; 3/22/2005, Vol. 167 Issue 4977, p26-26, 1/4p) (T)hreats Global economic recession: According to the IMF reports world economy will be in recession for next two years and this recession will have negative impact on global companies. Highly competitive industry: It will be difficult for company to increase profitability in such an intense competitive environment. (http://www.imf.org/external/pubs/ft/survey/so/2009/res070809a.htm) Financial analysis: Profitability: Profitability ratios can be used by investors to evaluate company is generating enough profits or not. Management can use these ratios to evaluate whether controls are efficiently working and company achieving will be able to achieve long term sustainable profits or not. (ACCA F9, 2010) Return on capital employed (ROCE): ROCE is a profitability ratio which describes relationship between operating profits and capital employed. Capital employed includes debt and equity financing. ROCE of the company is increasing over the last three years. And company is generating more returns by using available sources of finance. ROCE in 2009 is 19.73% and for 2008 it is 17.98% which is 1.74% higher than the last year. There was 7.84% ROCE in Y/E 2006 but later on company has managed to increase return. ROCE can be further explained by calculating net profit margin and asset turnover. (ACCA F9, 2010) Net Profit Margin (NPM): Net profit margin shows the relationship between operating profits and sales. NPM of Y/E2009 is 15.94% which is 0.28 % higher than the last year 15.66% in Y/E 2008. Over the last five years NPM is increasing but increase is not significant. It may be because of poor controls on direct and indirect costs and high competitive environment. Company may be struggling to compete on price due to competitors actions. Asset Turnover (AT): Asset turnover shows relationship between sales and capital employed. AT shows how efficiently noncurrent assets of company has been utilized over the past years. Company AT in 2009 is 0.09 times higher than the last year and there is not much difference between AT over the last five years. Company noncurrent assets are losing their efficiency and they might need replacements in near future. Gross Profit Margin (GPM): GPM shows relation between gross profit and turnover. GPM is stable over the last five years. This shows that company have good control on direct costs (material, labor and production overheads). (ACCA F9, 2010) Liquidity Ratios: Liquidity ratios show the liquid (cash) resources condition of the business. These ratios explain the ability of company to pay its current liabilities and expenses. (ACCA F5, 2010) Current Ratio (CR): Current ratio explains relation between current assets and current liabilities. Group CR is below than standard CR of 2. Over the last five years company CR is consistent. Company has to fewer current assets as compared to the current liabilities. (ACCA F5, 2010) Quick Ratio (QR): Quick ratio shows the relation between liquid current assets and current liabilities. Group QR is less than standard 1 time. Company has less liquid assets available as compared to the current liabilities. If this trend continues company will be struggling to pay its current liabilities and eventually group can face cash flow problems. (ACCA F5, 2010) Working Capital Ratios: Working capital ratios explain the cash management of the business. It includes further three ratios. Inventory Days (ID): Inventory days of the group are gradually increasing which means group is losing its control over the inventory. Company is keeping inventory for longer period and this trend is increasing every year. Group has to incur extra cost like holding cost in holding inventory for long and if inventory take longer to sale it will result in loss of value. (ACCA F5, 2010) Accounts Payable Days (APD): APD of the group is reducing as comparison to the last five years. If company is paying to their suppliers earlier it will loss cash and eventually will be difficult for company to manage cash flows. If group delay its payments to the suppliers it can use same cash for other purposes and thus can have a benefit of interest free loan. (ACCA F5, 2010) Accounts Receivable Days (ARD): Accounts receivable days shows the time period taken by the receivables to pay organisation. TRD have increased over the last few years and thus group is struggling to get money back from their customers. (ACCA F5, 2010) Solvency Ratios: Financial Gearing: Group long term debts have increased over the last five years. In Y/E 2009 long term debts of the company were 752.2 million which is 31.5 million higher than the Y/E 2008. Group is relying more on debts as compared to the share capital thus group is exposed to high risks. Group is highly geared and investors will lose their interest in investing in to the organization. (ACCA F5, 2010) Interest Cover (IC): IC shows comparison between operating profits and interest charge. Company profits are increasing over the last five year. Company ability to pay interest is increasing over the last few years. Price Earnings Ratio (P/E ratio): P/E ratio can be used to explain the relation between share price and profits. This ratio helps investors to identify whether the company is achieving their aim of maximization of wealth and growth of their wealth. P/E ratio of the company is 4.352 times in Y/E 2009 and is 5.595times in Y/E 2008. If this trend continues investors will lose their interest in group and group will suffer to get equity financing. (ACCA F5, 2010) Earnings per Share (EPS): EPS is the measure of amount of dividend (portion of profit distributed among share holders) available to the share holders. As compared to 2008 company EPS has increased by 1 penny. On average group EPS remain at same level this indication that company is giving regular dividend to its share holders. (ACCA F5, 2010) Share Price: Share price is very sensitive information for shareholders and little variation in share price will change investors choice of investment. There are many factors which affect share price like speculations, company performance, forecasts, company future perspectives, market trends and many more. Group share price variations over the last five years can be seen in appendices. Share price trend shows company share price is coming back to peak as it was in 2008. Group share price fell to the lowest price in May 2009. Group has significant impact of economic recession on its share price. This shows lack of investors trust in stocks market as there was high risk in market due to recession. In 2010 group share price revive and reaches to its maximum, which shows investor still trust group and are willing to invest into company. (ACCA F9, 2010) Appendices: Appendix 1 Smiths Group History: (from 1983 till 2008) In 1983 company ceased production of direct supplies of original equipment to European motor industry. Company sold vehicle heater business to a subsidiary of Hanson Trust in same year (1983). Company also stops operations of mechanical clocks in 1984. At that time (1984) company was operating under three groups industrial; medical systems; and defense and aerospace. In 1987 company acquire US avionics business of Laer Siegler Holidings. Company acquire Graseby which was involved in defense related equipments for biological and chemical detection in 1997. Strategic Technology Systems, a supplier of health and usage monitor systems was acquired in 1999. In 2000 company acquired the BAE systems, Marconi actuation systems and an aerospace division of Invensys. In the same year (2000) company purchased Fairchild Dynamics from Orbital Sience and merged with TI Group and was named as Smiths Group. Group made acquisition of Barringer Technologies, Point- Lok Needle Protection Device from Griff Industries, Summitek Instruments and Bivona Medical Technologies. In late 2001 group sold its vacuum and pressure businesses to BOC Edeards. In mid 2002 group sold its Jhon Crane-Lips marine business to Wartsila of Finland. In 2002 company also acquire Heimann Systems in 2002. Group sold its air movement and cable management businesses by the end of 2002 to HSBC private equity. In mid 2003 group announced to form a new division including Smiths Heimann and Smiths Detection to supply services to detection market. Company streamlined its medical division to for Smiths Medical in same year (2003). Company sells Matzen Timm(international aeronautical industry) to Masterflex and also sell its polymer business to Trelleborg. Company made a contract with Boeing to supply wind pylons for 20 years in the end of 2003. Cyrano Sciences was acquired by Smiths Detection in 2004. Dynamic Gunver Technologies (aerospace business) was acquired by the group for $102 million, in 2004. SensIR Technologies, a manufacturers of infrared based analysers for $75 million. TRAK communications was later acquired in 2004 for $111.5 million and strengthened its interconnect business. A respiratory care device company was acquired in 2004 by Smiths Medical. John Crane acquired Tianjin Timing Seals in 2004 to strengthened its presence in China. The group acquired Farran Technology and strengthened its detection activities, in 2005. In the same year, it acquired Medex, a medical devices company for $925 million. Later in the year, the group acquired ETI Technology, a US bio-technology detection company. Also in 2005, Smiths Group announced that Flexible Technologies business of the specialty engineering division had purchased Hi-Tech Hose in Massachusetts for  £9 million and Farnam Custom Products in North Carolina for  £3.5 million. During the same year, the company acquired Millitech, a millimetre wave and antenna company in the US, for $33.5 million. Later in 2005, it acquired LiveWave for $17.6 million and extended its detection technology range. In 2006, Smiths Group expanded its interconnect business by acquiring the business and assets of Lorch Microwave for $25 million.The group entered into a contract with Shanghai Pudong International Airport to supply x-ray systems, in the same year. Later in the year, the group established engine components facility in North Carolina. Also, the detection division established a new production facility, Smiths Heimann Rus, in St Petersburg, Russia. Also in 2006, the group partnered with Boeing for GoldCare service solution for Boeing 787 dreamliner operators. During the same year, the group launched Tadar, a new people screening system. During 2006, the aerospace division of the group teamed up with BAE Systems to develop an Unmanned Air Vehicle (UAV) technology demonstrator project called Taranis. During the same month, Smiths group entered into $60 million agreement with General Electric on F404 engine. Later in 2006, Dowty Propellers, a business of the aerospace division, entered into a long term propeller support agreement with Flybe Airlines for the Dash 8 Q400 passenger aircraft fleet. Smiths Group announced the acquisition of CDI Energy Services (CDI) in 2007. In the same year, the group sold its aerospace businesses to General Electric. Later in the year, Smiths Detection secured ten year BAA deal to revolutionise UK passenger checkpoints. Deal includes deployment of aTiX, the checkpoint X-ray machine that can automatically detect explosives and liquids. Also, in Russia and Dubai, Smiths Detection gained significant orders worth over $150 million in the transportation and ports border markets. During 2007, Smiths interconnect, part of Smiths Group, announced that four of its businesses, Hypertac, TRAK Microwave Systems, PolyPhaser and Millitech were awarded contracts with a total potential value of over $90 million. In the same year, Smiths Group acquired Sartorius Bearing Technology (SBT), part of Sartorius. SBT is a leading provider of high performance rotating equipment for the oil and gas industry based in Gottingen, Germany. Later in 2007, Smiths Group sold its Marine In March 2008, Smiths Group received 510(k) clearance from the US Food and Drug Administration (FDA) for a new portable medication delivery system that would make pain management simpler and safer for patients and clinicians. After one month, Smiths Group announced the acquisition of Indufil BV, a Dutch-based specialist in filters for the petrochemical and process industries. Smiths Medical announced it would promote and distribute Abbotts FreeStyle Navigator Continuous Glucose Monitoring System in April 2008. In May 2008, Smiths Group announced the purchase of Allrizon Tongguang, a Shanghai-based communications equipment firm. In the same month, the group announced completion of its acquisition of Fiber Composite (Fiberod), a Texas-based company, specialist in oil and gas lifting equipment. (http://web.ebscohost.com/ehost/results) Appendix 2 Smiths Group Competitors List: Anaren, Inc. Amphenol Corporation American Technology Corporation B. Braun Medical Inc Becton, Dickinson and Co. Cobham plc Covidien Ltd. Cardinal Health, Inc. Cameron International Corporation Emerson Electric Co. General Electric Company GE Security, Inc. Hitachi, Ltd. Hart Cooley, Inc. Hospira, Inc. Moog Inc. Medtronic, Inc. Nutech Inc. NORRIS MEDIC Omega Flex, Inc. Pall Corporation Quinn Group, Inc. Radiall SA Rapiscan Systems, Inc. Siemens AG Teleflex Incorporated Tyco International Ltd. United Technologies Corporation Universal Potash Corp Vital Signs, Inc. Weatherford International Ltd. Watlow Electric Manufacturing Company (http://web.ebscohost.com/ehost/results) Appendix 3: Ratios Analysis: Y/E 07/31/09 Y/E 07/31/08 Y/E 07/31/07 Y/E 07/31/06 Y/E 07/31/05 Profitability ROCE=PBIT/CE*100 424.80/(3011.3)*100=19.727% 17.98 17.015 7.848 14.783 NPM 424.8/2664.6*100=15.942% 15.66 14.545 5.447 11.86 AT 2664.6/(1541.5-858)=1.24 times 1.15 1.17 1.37 1.25 GPM 1217.1/2664.6*100=45.68% 45.48 46.36 40.07 38.37 Liquidity Current Ratio 1099.6/858=1.28 Times 1.33 1.21 1.28 1.32 Quick Ratio (1099.6-413.6)/858=0.799 Times 0.86 0.824 0.781 0.77 Working Capital Inventory Days 413.6/1330.1*365=113 days 117 107 102 120 Accounts Payable days 130.7/1330.1*365=35 days 48 55 46 45 Receivables Days 514.4/2664.6*365=70 days 83 75 69 82 Solvency Ratios Financial gearing 752.2/859*100=87.57% 78.68 62.78 63.27 77.83 Interest Cover 424.8/54.4=7.81 8.41 5.43 3.29 7.45 Dividend Cover 30.03 26.6 22.12 2.88 28.63 P/E Ratio 4.352 5.595 4.434 3.772 3.873 EPS 0.054 0.042 0.053 0.057 0.051 Appendix 4 Share price Movement (Adopted from http://ir1.euroinvestor.com/asp/IR/PrinterFriendly/PFOD2.aspx)

Gallup Poles :: essays research papers

In 1935 a man named George Gallup of Jefferson, Iowa founded and became director of the American Institute for Public Opinion. He is best know for his Gallup Poles which till this day serve as the most respected public opinion surveys on politics. Before all major elections in this country Gallup Poles are conducted to get a firm sense of who is voting for which candidate and often why. Now with out any question the poles themselves are a great tool for politicians in order to gauge where and how hard they need to campaign. In addition it also provides many Americans with a good perspective of how the nation thinks and where they’re beliefs fall in relation to. Those are too benefits to the Gallup Pole, now the question remains, is the government too responsive to public opinion and do polls drive the agenda? However I think it’s a better question to ask if the government can be â€Å"too responsive† to public opinion and if it is bad if polls drive the agenda? First and foremost I believe that the only possible arguments against poles are that 1) they sometimes discourage voters and 2) they may have a little too much impact on the agenda. I believe one small reason for low voter turnout is because due to polls people feel as though they know who is going to win before the elections and don’t feel as though there vote would make a difference. But for the most part polls help out this country as long as their figures are true. We do live in a country ruled by the people and if the poles reflect the will of the people than I don’t see why politicians shouldn’t refer to them. It also makes politicians and their employees take stock of their stances on issues and their relationship with certain groups. For example if a republican woman running for Senator of New Jersey and she sees a pole stating that the majority of Asians don’t support her, she will try to figure out why that is and she will try to remedy the situ ation. Poles open some politicians eyes to some issues they may not know exist. For example say that woman found out that in past years the New Jersey republican party has not even addressed problems brought up by the Asian society and has totally ignored them.

Just Like Us Essay

The immigration problem in America has been dividing the document and undocumented people, in the book Just Like Us, by Helen Thorpe, she tells the story of four Mexican – American girls who live in Denver Colorado. Marisela and Yadira, were born in Mexico and are undocumented while Clara was born in Mexico too it is a permanent resident, and Elissa is a U.S citizen. They are best friend and their relationship it is not affected by their immigration status until they graduated from high school and they have to face the challenge of looking for new ways to pay for their college education. Undocumented adolescents graduating from high school don’t have many opportunities to get scholarships and to go to college. Most of them end up working with a fake Social Security Card with a minimum wage. In the congress exist some oppressors of undocumented people like Tom Tancredo, who are the kind of people whose heritage comes from another country, but who have just forgotten wher e they came from, and become radical people who think that every undocumented person is a killer, a negative person for the American society. On the other hand, we have Major John Hickenlooper, who was trying to help undocumented immigrants giving them some opportunities to keep growing. The girl’s point of view about world and each other comes to play when they are trying to obtain a scholarship. Because of competitiveness to obtain a scholarship, the girl’s relationship changes. At the end they graduated and achieved their degree. Clara becomes a U.S. citizen. Marisela and Yadira were able to apply for the DREAM Act, so they legal. Elissa was unemployed, and Marisela would be a mom! As the girls become of aware of their legal status Immigration Policy, have affected not only the girl’s relationship with each other. But for all other illegal was well. Because of our Immigration policy, many Immigrants have more problems in achieve their dreams. Therefore, we mu st change our Immigration policy so that it will not make it difficult for young immigrants from getting a good education, changing our perception of young illegal immigrants and how young undocumented view themselves. Undocumented students as Marisela and Yadira struggle to be seen for who they really are and not to be just treated like criminals; they just need to be given opportunities to show what they can do for this country, like Clara and Elissa. One area that Thorpe presents to us is that not everyone gets to have a college education and is able to afford it, whereas every American citizen is able to go their college because they have a Social Security card and can afford it. Undocumented students like Marisela and Yadira don’t have a Social Security card and they have give up on their dreams of going to college. The process of the undocumented students going to college is that they have to apply for scholarship as international students, so they require more money th an a citizen or resident. Yadira got into Colorado College. â€Å"They accepted me, but they didn’t offer me any money. So it’ s like, if you have $37,000 lying around, you can come here† (Thorpe 60). This was a big reason for Yadira to forget definitively this scholarship, but she didn’t give up. She struggle and she is close to getting one before Marisela, because â€Å"Each year, about fifty thousand undocumented immigrants graduate from high school in the United States.† (Thorpe 60) And to be honest it is a shame that from this enormous number just a few can get into a college, every immigrant graduate from high school should be able to reach higher education, because everybody en in the world has this right and the people in charge of undocumented students is Senate Committee, they should help these adolescents. As an example of how difficult it is for undocumented students to get on education is the story about Marisela and Yadira. They had completed applications to University of Denver, and had gone to the campus for hastily arranged interviews. It was really tough for them, because they were both fighting for one scholarship. Yadira won it, because she pursue d her dream and than her best friend Marisela. To know that she got the scholarship Yadira called the University while Marisela watched her friend’s face as she spoke to the woman. Yadira looked back to Marisela the whole time, and she asked: â€Å"You got it, huh? Yadira hung up the phone. â€Å"Yeah,† Yadira replied, she was crying (Thorpe 80). Marisela has to deal with this pain inside on her, because she was happy that her best friend got this triumph, but this means that she will not get this scholarship. As we can tell the process of obtaining a good education is really hard for undocumented people, it makes it even harder to compete against someone you know. Hard moments like this makes it difficult for undocumented adolescents has to deal with in obtain a good education. Another topic that Thorpe presents is the difficulty of changing people’s points of view. In fact, when congress is debating why immigrants come to America illegally, should they receiv e citizenship? Luke is a really close friend of the girls at Denver University. In the story represents people who are conservative view and very narrow mind. In particular instance, Luke express that opinion when he said: â€Å"I don’t agree with giving them all citizenship†¦why even have immigration law if you just let everybody in!† (Thorpe 250) This is the reason why Marisela manifest not to be so close to him anymore. He is a great person, but his ignorance takes Marisela away from him. Luke didn’t care about their ethnicity, however he didn’t know where are they from, and with his comments were hurting Marisela and Yadira feelings, this is the reason why they never were really honest with him, and hide most of their lives. Most conservative talks about undocumented immigrants come to affect the American economy, avoiding taxes, free loaders, public schools, and food stamps. And also Conservatives thinks that most of the illegal are criminals. The issue of welfare is one point where we see the conservative viewpoint â€Å"They go to San Francisco General and they get free health care that we pay for.† (Thorpe 250). Undocumented people just to come to the United States looking for a better life, more opportunities, to give their families more a better future. We didn’t know, but in their country they are poor, and they do not have enough food so just deal with it day by day. We cannot even talk about healthy issues; because they cannot expend money on it, because their kids or themselves will not be able eat that day. These are a couple of reasons why they just to take a risk and coming to fulfill the â€Å"American Dream.† Saying that undocumented people who want be like an American citizen by paying some form of taxes, and really are hard workers doing those kind of jobs than Americans doesn’t want to do. Juan Apocada is a young undocumented boy who was on the news for speaking out about his st ruggle about obtaining a scholarship, a benefactor who really knows his legal status didn’t care about it, just help him providing the money for his studies. Suddenly congressman Tancredo, called the Immigration and Naturalization Service (INS) to see if his child’s family are illegal. â€Å"Is it just me or does anyone else fin more amazing that our government can track a cow born in Canada almost three years ago right to the stall where she sleeps in the state of Washington†¦but they are unable to locate eleven million illegal aliens wondering around our country† (Thorpe 49) He believes that American culture had strayed from the rule of the law. This congressman forgot where is he from. Even his family was almost deported, but he didn’t care about undocumented, and became one of the most stronger opposites people on the undocumented immigrant topic. He instead on thinking how to deport them, should start thinking how to solve their problems, becaus e his family heritage if from outside this country, and his family was one of them. Document people didn’t have knowledge about undocumented immigrants, and they just based their opinion about what they hear and see on the television, radio, or gossip. As a result of them we have that people got a wrong idea of them, and people disrespect them, and didn’t give them the same treat as document people, they must receive same respect and values that legal people have, because a legal paper don’t give us more respect, it’s just a status inside a country. Something that makes us better it’s our development inside a society and giving the best of us to our world. Thorpe also comes across show the self-realization for the immigrants who have thought they are some things right, ends up being wrong in the United States. This is because undocumented people want to be identify, they need to have some identifications as any other document person, so they find their own way to do it. As some of the girls are undocumented, they are actually don’t have how to get a job or get a driver license, and they need to identify their selves with people, so they just have one solution to falsify ID, social security cards, driver licenses, etc. When Marisela believe that even though she had fake driver license, she thought she would not get caught, â€Å"It hit me when I wanted to a driver license and I couldn’t. So I started driving with a Mexican driver’s license—a fake. And that when I realize how I was going to grow up—doing everything the wrong way† (Thorpe 25). She has to get a fake drivers license, because first at all she was an undocumented person, and second would be more safety for her go to school in her own car than in the bus. Yadira also took this decision, sh e is very conscious about doing things in proper order, and because she needs to get a job decided to get a fake Social Security card. At the end she shows it to her friends. –â€Å"Oh guess what?† She volunteered. â€Å"I just bought a fake Social Security card. Do you want to see it?†(Thorpe 161) Certain situations force her or anyone to do the wrong thing. Yadira situation is that her mom Alma was in Mexico with her new baby sister and she couldn’t work, and her stepfather works in America but his pay does not cover the cost of living in America. Therefore her family needs her to get a job. And the only way to get a job in America is providing a Social Security Card to each place that you are going to apply. As far as we know, her family is not resident therefore she had to obtain a fake Social Security ID. People might think that getting these fake documents could mean that these girls would be worried about getting caught. But it’s not that wa y; they feel a little more secure when they have this kind of documents, because these documents give them some identity that they are missing since they cross the Mexican – American border. These children and adolescents are not guilty for their parent’s decision of crossing the border illegally. They coming to the U.S. for a better future, this country give them a better live, a future were they would be alive and can be someone, because some of their parents come just barely speaking their own language, sometimes they don’t even know how to write, so when they arrived to America it’s that they work in jobs than Americans don’t want to do, they work really hard. Therefore parents expected from their children a better live, better education, having at least two languages, knowing something else that clean bathrooms, and cook, they want a better future that they can’t afford or just even think of it in their own country. So the U.S. governme nt should cover these obstacles that these children and adolescents have to give them a more chances in live.

History of Psychology and concepts of human nature Essay

Since the beginning of the human civilization, there have been continuous efforts to explore the various complexities confounded in the human nature by our various philosophers. They have tried to bring out the various notions like fusion, interactions, integration or systems in relation to their environment and society. The study of the human nature began with various theories formulated by our classical economists like Sophists, and their contemporaries Socrates and Plato and then Aristotle. But before that, Thabes of Miletus of Greek (600 BC) studied the nature of Universe to predict solar eclipse. It is ardently clear that before the philosophical disposition towards the study of human beings started, philosophers were more delving into the mysteries of nature. Sophists were the first to fully formulate the study of human nature. Between 430 to 420, Antiphone in his essay â€Å"On Truth†, said that all men belong to human race, they are all fixed and in nature, they are all same whether they are non Hellenes or Hellenes. Other Sophists too described human nature as a â€Å"static essence†. (Reinhold 2002) They developed their concept while explaining their self -interestedness as the main essence of their human nature. Hippias too stated that, â€Å"it is human nature for the stronger to rule the weaker and to lead, and for the weaker to submit and follow†. (Reinhold 2002) Plato disagreed with this and stated that this law did not take into consideration the law for creation of humans, which they called nomos. He also always criticized relativism of knowledge and skepticism of Sophists. For Sophists, nothing existed and if there was something then, it was impossible for us to know it and if we knew it, we could not explain it. Plato explaining Sophists believed that â€Å"Man is the measure of all things, of those that are in so far as they are, and those that are not in so far as they are†. (Dillon 2003) He also did not agree on their conception of self-interestedness. He said that by understanding the man as self interested, Sophists had undermined morality, which is as much part of the human endeavors. All knowledge is based on contingent facts based on specific situation. Plato saw man’s nature as rational and civilized society must follow rational principles. Plato and Socrates both said that irrational desire should not over power reason. Following on the steps of Plato and Socrates, Aristotle too believed human as possession of two souls: the philosophical/ theoretical and the rational. Aristotle further stated that human nature could be divided into two parts: firstly â€Å"drives† and secondly â€Å"capacities†. (Leahy 2000) Human Nature cannot be defined as a nature of one person but for all human races on this Earth. There are some elements in human behavior which are common to all human beings, and by closely observing the actions of the people, one can see the reflection of this combined element of human behavior. Many philosophers consider this human nature as consisting of element which they called ‘power’ and it is this power that makes the humans behave in a way they ought to behave. For e. g. All human beings eat and it is hunger that induces humans to eat therefore hunger is a power and is common behavior in all human beings. There are two types of Powers- basic and secondary, for instance aggressive power is a basic power in humans, which might lead to aggressive conduct in normal situations. All living things Aristotle said are imbibed with inbuilt potentialities and it is natural among human beings to develop that potentialities to the full and from here arises the another question: what, however, is the potentiality of human beings? And the obvious answer to this question is the capacity to reason and to always strive to develop their power of reason is the ultimate aim of humans. The ability to reason is the best capacity and the power given to humans by nature and they should use it to the full capacity to make their life better. This power of reasoning enables humans to grasp their world around and this reasoning power starts with the children at young age. From the young age, they see in their behavior both the stability and change. Stability in the sense that they adopt themselves according to their environment yet see themselves modifying the environment and their behavior on the basis of their reasoning power which allows them to grow morally and physically. As compared to it, Jean Piaget of Switzerland born in 1896 studied the cognitive development of children in his what is known as Piaget’s theory to come up with the conclusion that children are not less intelligent than elders are. Children establish around themselves cognitive structures like mental maps, schemes, or networked concepts to better understand and reciprocate to his physical surroundings. With their most established inherent abilities, they try to modify themselves with their environment. But centuries later Freud contradicted this theory into notion that development takes place in the individual in the same way as in the other species like psychosexual changes in biological terms. Thomas Hobbes had been adequately presumed as most intricate materialistic philosopher who disbelieved in the concept that children are adoptable naturally to their surroundings. He believed that human beings are not free and they have to follow the pattern of this materialistic world of today. In Levathian in 1651, he said that, â€Å"Man is not naturally good but naturally a selfish hedonist —of the voluntary acts of every man, the object is some good to himself. † (Fonseca Online) All human beings are inherently selfish. Rene Descartes was a French philosopher and a mathematician (1596 to 1650) who delivered his voice on human nature when Renaissance was at its peak. He was the father of modern philosophy and believed that the essence of human nature lies in thought process and all things that we see or perceive are ultimately true. He had an ardent belief that it is the human reason or the power of reasoning that induces humans to entertain the certain knowledge and truth. Thomas Hobbes discovered the human nature more from his philosophical eyes and through his study on child development whereas Rene Descartes adopted scientific approach. As compared to Thomas, Descartes believed that truth could only be discovered through the process called as radical skepticism and analytical reasoning. He further said that the â€Å"Essence of human nature lies in thought, and that all the things we conceive clearly and distinctly are true. † (Cottingham 1986) Centuries later Karl Marx conveyed the society having a concrete definite pattern with a social formation, but with an interdependent economic, political, legal and cultural levels with several parts of modes of production and it is the relationship between these different modes of production that runs the society. Both Thomas and Karl Marx believed the nature and human behavior surrounding the concept of materialist wealth. During the Renaissance period, the scientific and technological developments lured the intricate selfish nature of human beings with the abundance of materialistic wealth at their disposal. Human behavior is not fixed but fluctuating and since centuries human beings have been cultivating their behavior according to the changes in the society and in the global world. Man is a social animal and it is ultimately the interaction between the man and his economical, social and political position on which his behavior depends. All the theories and studies on the human nature since the Greek time had been adopted and materialized looking at the adaptive nature of man to its surroundings and in the society in which he or she is living. Whether it is Sophists visualization of man as static personalities or Plato’s concept of man as rational or civilized or Aristotle’s man with great inherent capabilities, or Thomas Hobbes’s conception of man as selfish hedonistic or Descartes rational man and Karl Marx’s man as inherently and inborn social animal interdependent on society, all philosophers were the mouth pieces of their contemporary societies. And the study of the human nature has always been the study of society at large in context to the study of their relationships with their surroundings.