Wednesday, July 31, 2019

Developmental Psych Papere

The study of the psychological development in children has been an ongoing endeavor.   Renowned theorist, Sigmund Freud developed a psychoanalytic stage of psychological development focusing on the psychosexual development of individuals.   Erikson developed his own theory of development which spanned over one’s lifetime.   Psychological development has stirred arguments in theory from biological theorists and environmental theorists as well.Despite the uncompromised viewpoints from psychological, biological, and environmental theorists, children continue to be born, grow, and become adults without a definitive explanation to their development.   There exists the lingering question as to why some children grow and develop serious psychological disorders and learning dysfunctions when compared to other children who are devoid of any dysfunction.BackgroundAt first view, Adam is a rambunctious typical 8 year old boy.   It is noticeable that his attention span is comprom ised as he is unable to remain focused on one activity for any given length of time.   His parents, Jason and Alexis, explained that Adam was born via Caesarean section after forty-two prolonged hours of labor. A second child was born, a girl, later the following year.   At the age of 2, his parents noticed that he seemed too eager and full of energy.   After a trip to the pediatrician, they were assured that this was typical behavior for a 2 year old boy.Up to the age of 4, his parents became more distraught with their inability to control his behaviors.   By this point, Adam was sleeping three hours per night, had gotten outside the family home by picking a lock with a butter knife, was physically abusing his younger sister, had broken his collar bone jumping off a Little Tyke car, re-broken the collar bone in the doctor’s office jumping off the exam table despite the doctor’s efforts to catch him, and his parents werePSYCHOLOGY  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   3sleeping in shifts in order to keep up with his hyperactivity (personal communication, May 15, 2010).   The family received reassurance from the pediatrician who indicated that it was a phase that Adam would soon outgrow.   It is clear that both Jason and Alexis were debating whether or not Adam’s behavior was an individual difference or an abnormal behavior, but one could also suggest the possibility of the issues with Adam being related to a nature versus nurture conflict (Berryman, et al, 2002)AnalysisD iagnosisWhen Adam was 6, his parents contacted a Child and Adolescent Psychiatrist after exhausting every other known resource and outlet, including school counselors and the family pediatrician.   Adam was put through a series of developmental, biological, and psychological tests.   The psychiatrist met with the parents two-weeks following the testing phase.   It was determined that Adam was suffering from Attention Deficit Hyperactivity Disorder (ADHD) and Bipolar Disorder I.   While Jason and Alexis admit that they were horrified by the diagnoses, they have stated that they were equally relieved to finally have a name for what was wrong with their son (personal communication, May 15, 2010).The Diagnostics and Statistics Manual for Mental Disorders, fourth edition, (DSM-IV-TR) defines ADHD as being a condition often present in children indicated by behaviors and mannerisms inconsistent with the child’s developmental age (American Psychiatric Association, 1994).   Specific symptoms include restlessness, driven mood, excessive talking, distractible, and an inability to remain focused.   The American Psychiatric Association (APA) notes that learning disabilities are frequent with the diagnosis of ADHD (APA, 1994).   The diagnosis of BipolarPSYCHOLOGY  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  4Disorder I indicates that episodes of mania are or have existed in the patient.   Bipolar Disorder is defined as severe mood swings associated with elated happiness, or mania, in contrast to extre me depression, or periods of sadness (APA, 1994).TreatmentTreating both of these conditions in a child requires consistency and encouragement from the family.   From a pharmacological standpoint, these conditions are being treated with Clonodine and Depekote.   Family and cognitive therapies have been incorporated into the family’s routine.   Lab tests, blood work, are performed bi-weekly as the level of Depekote must be monitored so that it does not become toxic.   In reference to Adam’s learning disability, he is enrolled in special education classes in a public elementary school.   To date, Adam seems well adjusted and fully cooperative in taking his daily medications.   Alexis indicated that his individual therapy has helped him to recognize periods where he has become too active, whereby Adam will indicate that he needs some alone time to calm down (personal communication, May 15, 2010).DiscussionThe prognosis for these types of conditions in children is uncertain.   Years ago, a diagnosis of Bipolar Disorder in a child was unheard of, and it would seem to be more congruent with a Conduct Disorder.   Times are changing as is developmental psychology.   The origin of these conditions is not definite.   Alexis wonders if there was oxygen deprivation during labor which may have contributed to Adam’s disorders, but there is not a clear or concise medical opinion to assert this to fact (personal communication, May 15, 2010).   There are still questions as to whether or not either of these conditions may be hereditary, despite the fact that neitherPSYCHOLOGY  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  5Jason nor Alexis have any family members with either condition.   With regard to the abnormal behavior exhibited by Adam; there exists a name for the psychological dysfunction.   In relation to Adam as an individual, it is obvious that he does have specific differences than that of other children his own age.   It is still a battle and argument to be had with regard to developmental psychologists and theorists.ConclusionJason and Alexis continue to live and function with the knowledge that their son has been diagnosed with two disorders requiring constant monitoring and care.   In lieu of these conditions, they still manage to do things as any other family does.   They have a family in which one child has special needs.   For them, these needs have become the norm, even though society views these obstacles as an intrusion and inconveni ence.   Developmental psychology is a study of the ways in which one goes from being a dependent infant to a self-sufficient adult.   There are a variety of ways that each individual will accomplish such a task.   There does not appear to be any one definition by which each person grows and develops thoughts, mental processes, or abilities.   Each person simply grows by learning and adapting in order to survive.   The field of developmental psychology has much work and research ahead of itself, but it has already made great strides with regard to how society has gotten where it is.

Tuesday, July 30, 2019

Is America prepared for another terrorist attack?

Terrorism is one of the disasters feared all over the world. America particularly is most prone to a terrorist attack than any other nation. The government has tried to come up with several measures to ensure they are ready and prepared to counter any terrorist attack that may occur, especially after the unexpected 2001 September 11th attack. However, eight years later, America is still not fully prepared incase of another attack. This term paper addresses the issue of the preparedness of America in dealing with or preventing terrorist attacks.Is America prepared for another terrorist attack? Introduction The threat of terrorist events involving weapons of mass destruction is real. The September 11, 2001, terrorist attack on the World Trade Center and the Pentagon changed the United States forever, ushering in a host of new and unprecedented realities for the American people, for the intelligence and national security communities, for medical personnel, for private security entities, and perhaps especially for the police, fire, and emergency medical personnel.In particular, police, fire and emergency medical service personnel, the agencies and individuals most likely to be the first responders to possible terrorist attacks, faced compelling demands to adopt new strategies and tactics, to undertake new training, and to view their roles and their work in an entirely different way. This term paper aims at finding out whether the American government has prepared enough to counter another terrorist attack without experiencing the problems encountered in 2001. The police, fire and emergency medical personnelAs first responders, police, fire, and emergency medical service personnel are our first line of defense in case of a terrorist attack, but the enormity and complexity of the challenges that they face makes it abundantly clear that they alone cannot bear the responsibility for ensuring our safety. Although first responders play an absolute critical role in homelan d security and domestic preparedness, and although a great deal of attention and resources have already been focused on them to counter the terrorist threat, much more needs to be done.Perhaps most important, realistic potential that American people, towns, and cities may again come under attack from terrorist demands that significant system changes occur throughout the range of public agencies and private entities charged with the responsibility of ensuring public safety. For the American government to be fully prepared, it must develop and implement a broader, more coordinated, more cohesive, and more focused approach to terrorism and to weapons of mass destruction and that approach must involve new relationships between and among all of these public agencies and private entities.(Roberts, 2005) The police and the emergency workers who might be called on to respond initially to a nuclear, biological, or chemical event are not adequately trained to deal effectively with those event s. This is not to say that most police and emergency workers lack any training in this area. It means that they lack the highly specific training and special expertise required to recognize and deal with many of the complex and unique threats posed by such events. At present, many also lack the special tools, gear, and protective equipment these events may require.Patrol officers, firefighters, and emergency medical service personnel who initially respond to an event involving weapons of mass destruction should not be expected to undertake the specific duties and responsibilities that are better performed by well-equipped and more highly trained specialists. (Lustick, 2006) Since they lack the necessary equipments to deal with the crisis, their primary role should be to recognize the threat, to minimize additional exposure to chemical or biological agents, to ensure safety of victims, to safeguard the scene, and to report their findings to those more competent to deal with these iss ues.Another primary responsibility is to minimize their own contact with the chemical of biological agent and to provide as much information as possible to ensure the safety and the effectiveness of other responding units. First responders who rush in to a weapons of mass destruction event not only risk death or serious injuries from secondary devices that may have been placed at or near the scene precisely to disable or kill rescuers, but they may also become a significant liability to other victims as well as to other responders if they become contaminated or injured themselves.Such first responders who rush in and become victims may exacerbate the overall problem, consuming precious time and resources. (Mandaville, 2009) Developing capacity to prevent terrorist attacks Surveillance, physical barriers, and advanced technology have played a prominent role in the security improvement efforts explored by most communities since the September 11th terrorist attack. For example, securit y cameras are keeping watch over banks, embassies, schools, and a variety of other buildings as well as traffic intersections, shopping centers, parks and many other public gathering spaces.The striking image of London subway bombers captured by the cities extensive video surveillance system and a raising sense that similar attacks could happen in the United States are renewing interest in expanding police camera of public places. The London bombings showcased the capabilities of digital video surveillance system when ,after July 7 and July 21, 2005, attacks, authorities quickly produced relatively high resolution images of the suspected bombers that benefited fast moving investigators.However, critics said that the London attacks also highlighted the limitations of camera surveillance: they did not prevent terrorist bombings in the heart of the city. (Forest, 2006) Still, even with suicide bombers, camera surveillance can help with the hunt for the terrorist cells that provide them with crucial logistical support. Emerging technologies offer even greater promise. In 2006, Chicago installed gunshot detection equipment on cameras to automatically alert authorities and point the camera in the direction of the sound.Also, New Jersey Transit has a pilot project in one station that uses computer analysis of video to alert authorities of suspicious behavior, such as someone leaving a package behind. Authorities are also experimenting with facial recognition software, though existing versions are of limited use in scanning crowds for suspected terrorists. In San Francisco, the mayors have been noted advocates for expanding the city’s surveillance camera program. (Alexandrov, 1996)Another example of preparedness for a terrorist attack is by the Long Beach Airport in southern Los Angeles County, which has developed a plan to implement a sophisticated wireless video surveillance platform. The airport, an alternative to Los Angeles International Airport hosts majo r Airlines such as Alaska Airlines, America West Airlines and Jet Blue Airways. The new wireless surveillance system’s purpose is to enable three separate Long Beach Airport security operation centers to simultaneously monitor distant sites, including secured airport areas, public parking lots, and road way tunnels.This system provides a single wireless solution for viewing, storing and managing real-time video from more than 100 cameras, becoming one of the very first wireless surveillance systems to be installed at any airport in the United States. With this integrity, security platform personnel at three locations in Long Beach (the Command and Control Centre, the Security Operations Centre, and the Security Safety Office) will be able to monitor information while viewing live video feeds at the same time from the same computer. (Fawdah etal, 2003)Video surveillance has also become a prominent feature of the nation’s passenger railways. For example, the Washington D . C. , Metro system has partnered with the Department of Homeland Security, Department of Transportation, and the Department of Justice to develop the Program for Response Options and Technology Enhancements for Chemical or Biological Terrorism (PROTECT). PROTECT combines a closed-circuit television (CCTV) system, an operations control centre, and advanced sectors to alert authorities if a terrorist releases a chemical or a biological agent on a subway platform or in a train.Preparing Americans Psychologists are beginning to have a stronger appreciation of the fact that humans are extremely resilient, even in times of crisis. Accordingly, the American government should also try to nurture the quality of resilience in its citizens. More recent work has considered how this concept has relevance, not just for adults, but also for communities, particularly in the wake of a disaster; it is argued that community resilience can be nurtured through readiness, response and recovery phases of a disaster.So, for instance, by minimizing the subject fear of terrorism, the American government can empower its citizens to exert a greater level of confidence in their respective communities’ abilities to anticipate and respond to security threats. Ultimately, in doing so, one of the most potent weapons that terrorists possess -fear- may be squashed. (Rowitz 2005) Its also critical not to install fear in individuals when preparing for disaster, since such individuals generally ignore such messages; additionally, fear arousing information is particularly helpful when followed by practical suggestions as how to address given concerns.Some have argued that the Department of Homeland Security, along with its affiliated Web site(www. ready. gov) has failed to appropriately address individuals’ fears and the ways to nurture resilience by making extreme and often erroneous suggestions (e. g. , encouraging individuals to have a supply of antibiotics on hand) while not addr essing events that have a greater likelihood of promoting panic (e. g. , how to get trampled in a crowd should a â€Å"dirty bomb† attack occur). (Ursano, etal 2003) AnalysisThere is no further need to speculate as to how the American government would likely respond to a terrorist attack, such as the 2001 terrorist attack. It is evident that significant work remains in order to secure the American Homeland incase of an attack or when disaster strikes. The occurrence of Hurricane Katrina was a good indicator of America’s preparedness. By the end of four days or so after Katrina struck, National Guardsmen and supplies started to pour into the city. Most, but not all, residents had been evacuated out of New Orleans and left with very uncertain futures.The rescuers were met unprepared, which led to delays in rescuing the victims. Katrina dramatically revealed the incredible degree to which we are still unable to respond and proactively anticipate disasters. However, that t here have been, are, and will likely always be large gaps in protecting the American homeland should not be surprising. In a country as geographically vast as the United states, American needs to appreciate that –regardless of whether politicians may promise-every square inch of this country can not be guarded or protected at all times.Whether in a mall, on a train, at a school or in the work place, most of us are probably well aware that if someone is intent on carrying out a physical harm to others, there is a good probability that such an event will occur. Sadly, there are many instances of deadly violence that have occurred at all of the above locations and others, such as the shooting, rampage that took place in 1993 on the Long Island Railroad or the 1999 Columbine High School Massacre. There is also a difference between acts executed by one by one or two troubled individuals versus those committed by an organized group of individuals such as al Qaeda members.While we c an fully eradicate the risk of single terrorists, we can certainly do more to minimize the risk posed by terrorists groups, although this risk too can never be completely eliminated. Conclusion The new realities of terrorism and weapons of mass destruction demand a new set of policies, practices and relationships among and between a host of entities and institutions charged with the responsibility to ensure public safety. The government still has a lot of work to do in readiness of effective response should another terrorist attack occur.As learnt from the experiences and lessons of the September 11th attacks on the world Trade Centre and the Pentagon, police, fire, and emergency medical services face unprecedented challenges in the future, and similar challenges confront virtually every institution in the United States. As seen in this paper, there are a lot of issues, problems and threats posed by the specter of terrorism and terrorists’ use of weapons of mass destruction. This calls for the need for highly coordinated response and recovery planning that integrates resources, skills, personnel, and capabilities of a range of public sector organizations.No plan can pretend to be perfect, there are simply too many unforeseen issues and exigencies that arise in specific events, and the planning must therefore be crafted for flexibility and adaptability. This involves nothing less than a new midst that accepts, accounts for, and takes up the challenges posed by the realities of our world. Recent studies reveal the extent and the dimension of the threat posed by weapons of mass destruction, their availability to terrorists and extremist groups, and the massive casualties that can inflict on public safety personnel and members of the public.These threats are not likely to subside, and in fact may increase. (Ackerman 2007). There is a pressing need for more and better training for the first responders to such events so that they can recognize events involvin g weapons of mass destructions and so that they can operate safely to minimize deaths, injuries, and damage. Similarly, there’s need for more and better equipment to help rescuers achieve their goals. This calls for a new mindset among emergency workers, and a mindset for of safety and preparedness that infiltrates all their duties and activities.In addition to anticipating and preventing terrorism, Americans need to have a better understanding of the root causes of terrorism. We should not excuse or condone the actions of terrorists. It is also naive logic to presume that terrorists are simply evil individuals and that killing such people will end the security concerns. Individuals such as al Qaeda leaders Osama bin Laden, Ayman Al-Zawahiri, and Abu Musab al-Zarqawi absolutely need to be captured or killed. References 1) Forest James J. F. (2006). Homeland Security: Public spaces and social institutions.Greenwood Publishing Group 2) Roberts Albert R. 3rd edition. (2005). Cri sis intervention handbook: assessment, treatment, and research. Oxford University Press US; pg 189-198 3) Rowitz Louis (2005). Public health for the 21st century: the prepared leader. Jones & Bartlett Publishers; pg 80-90 4) Lustick Ian (2006). Trapped in the war on terror. University of Pennsylvania Press; pg 8 5) Ackerman Bruce A. (2007). Before the Next Attack: Preserving Civil Liberties in an Age of Terrorism. Yale University Press; pg 114-116 6) Mandaville Michael(2009).Citizen-Soldier Handbook: 101 Ways Every American Can Fight Terrorism. Dog Ear Publishing, 2009; pg 89-95 7) Fawdah Yusri, Fielding Nick. (2003) Masterminds of terror: the truth behind the most devastating terrorist attack the world has ever seen. Arcade Publishing; pg 201 8) Alexandrov Stanimir A. (1996). Self-defense against the use of force in international law; Martinus Nijhoff Publishers; pg 181-183 9) Ursano Robert J. , Fullerton Carol S. , Norwood Ann E. (2003). Terrorism and disaster: individual and comm unity mental health interventions. Cambridge University Press; pg 287

Monday, July 29, 2019

Europe in the Early Middle Ages Essay Example | Topics and Well Written Essays - 250 words

Europe in the Early Middle Ages - Essay Example , Germanic tribes dominated the Western Roman Empire and introduced Germanic laws and customs, which they merged with those of the Roman culture.2 Germans intermarried with the Romans and created a new society driven by the Germans social customs.3 As the fourth century ended, Christianity was the dominant religion in the entire Roman Empire. Here, the Christian church contributed significantly to the expansion of the new European civilization.4 It introduced a system of government, where a bishop headed every city. Monastic ideal also started spreading encouraging communities to live together. Between the seventh and eighth centuries, Frankish kingdom kings started losing their powers while palace’s mayors assumed more control, paving way for Charles the Great (Charlemagne).5 He emerged as the most powerful king in the kingdom and created the Carolingian Empire. Between the ninth and tenth centuries, Muslims, sending the raiding parties to southern France, attacked Western Europe, and eventually landed in Hungarian plains.6 The invasions by Muslims, Vikings, and Magyars resulted to a new kind of relationship among free individuals. As the governments failed to defend their subjects, they sought a powerful lord who would offer protection.7 This resulted to feudalism. The manorial system later emerged, uniting communities together. In this case, the peasants bound to their masters both physically and

Sunday, July 28, 2019

Business environment Coursework Example | Topics and Well Written Essays - 2000 words

Business environment - Coursework Example Such has been the effect of globalization that each and every products and services in the modern business environment are being designed keeping in mind the preferences and tastes of the global customers (Ekholm, Forslid and Markusen, 2007). The extent of globalization has surmounted to a degree where economic policies of each and every country are interdependent. This is precisely because of the fact that economic policies in one country have a corresponding impact on the country with which it shares significant trade relationships (Haskel, Pereira and Slaughter, 2007). It is with regards to the facts that have been mentioned above, the researcher believes the statement, â€Å"National boundaries have been surmounted by the phenomenon of ‘globalization’ and therefore, national governments are no longer able to promote independent economic policies† to be absolutely justified. In this study, the researcher will conduct an extensive qualitative research on literat ures that have been published surrounding the topic. By doing so, the researcher will be endeavouring to collect conclusive evidences justifying the credibility of the proposition stated above. Financial integration is considered to be a by-product of globalization by several researchers. The business activities that are conducted in the financial service sector have become heavily globalized. A noteworthy relevance can be found in the banking and insurance industries where each and every business activities have transcend every international boundary. For instance banks all over the world are heavily engaged in transactions which increase their exposure to various foreign exchanges (Naor, Linderman and Schroeder, 2010). Therefore, any unanticipated fluctuations in the foreign exchange rate could have adverse impact on a particular bank due to its exposure to that currency (Hopkins, 2011). That is why national governments have to be very careful while drafting monetary

Saturday, July 27, 2019

Managing Financial Resources for Human Services Organizations Essay

Managing Financial Resources for Human Services Organizations - Essay Example raise strong and healthy children by strengthening our investment in Head Start, teen pregnancy prevention and abstinence education; increasing opportunities for adoption; and bolstering our efforts to reduce tobacco and drug abuse among youth; It creates a strong public health agenda for the next century by sustaining biomedical research at the National Institutes of Health, developing a new food safety initiative, combating infectious diseases and providing life-extending drug therapies to people with AIDS; Additionally, the budget provides funds to allow these organizations he option to extend one year of continuous Medicaid coverage to children, thus increasing continuity and security for children and families and reducing administrative burdens on States, families, and health care plans which now have to determine eligibility on a monthly basis. â€Å"The definition of a line-item is the classification of expenditures on the basis of categories called objects-of-expenditure (personnel services, contractual services, capital outlay, etc.) and within each category more detailed line-items (salaries, travel, telephones, etc.). This type of budget focuses attention on how much money is spent and for what purpose rather than the activity affected or its outcomes.† (Elsass. Financial Management in Local Government: Frequently used Terms, 2001). It is easiest to build performance-based budgets on the foundation of a program-based budget system. Under performance, or â€Å"outcome-based budgets†, each major program or function is measured using a set of benchmarks. Benchmarks are snap shots of particular activities or functions at a beginning date and time. These benchmarks are used for comparison purposes to measure progress in attaining specific program or functional goals over periods of time (i.e., six months, a year, or several years). Programs, activities, and functions may also be measured quantitatively and qualitatively against other internal and

Friday, July 26, 2019

Women and Poverty in the Philippines Essay Example | Topics and Well Written Essays - 750 words

Women and Poverty in the Philippines - Essay Example Bear in mind that in a lot of these cases the women are primary income earners, and in their quest for high-paying jobs they often rolling the dice with a heavy heart. A lot of the income earned by these women fuel the economies of their home countries to the tune of millions of dollars annually. The question is, have the effects of poverty effectively dehumanized the women living in developing countries Let us take a closer look at the situation of women in the Philippines, one of the world's leading providers of woman migrant workers because of the seething poverty that is prevalent in the country. (United Nations Development Fund for Women, 2008) Women in the Philippines are considered the backbone of its society, being a Roman Catholic country. While most men are still the primary wage earners, a significant portion of women are the breadwinners of an increasingly large number of single-parent households. Now, the main point of contention here is that the Philippines is not exactly an equal opportunity employer. The majority of the well-paying jobs still go to the men, and women are oftentimes relegated to low-paying, menial work such as secretarial jobs or clerking posts. And that's if they choose to do it the " honorable" way. Rampant stories run abound about with nursing school graduates saddled with an unwanted pregnancy, and are then forced to work as prostitutes to support the child as the husband had abandoned her. The Philippines is a country seemingly built for infidelity, and the practice is as socially accepted as it can ever get.. Thus, women are often saddled with unwanted babies, and with no good-paying jobs t o support them, are forced to turn to drastic measures. (Department of Social Welfare and Development, 2008) While not all women are keen on exploring prostitution as a living , the next best alternative is to look for jobs abroad as a migrant worker. A lot of times these women would roll the dice and pay exorbitant "placement fees" to recruitment agencies just to land jobs overseas. These fees can go as high up as $1000- $2000, and some agency contracts will automatically deduct the amount through monthly installments from whatever will be earned overseas. For a country where the daily minimum wage is approximately Php 365 (roughly about $9), these placement fees oftentimes have these migrant worker aspirants committing their entire life savings in the hope for a better life. (Department of Labor and Employment, 2008) Because of poverty, it truly is a shot in the dark for these women, and they are willing to risk everything in order for their families to live comfortably. Once again, the burden of sacrifice is left on their shoulders. If the Filipina is lucky enough to indeed land the job she was promised, one last pitfall is to be at the mercy of an abusive employer. These all the more illustrate the sorry state of poverty in the Philippines, where economic status is terribly disproportionate, just like in India. The rich are ridiculously wealthy, while the rest of the country toils in crippling poverty. There is no defined middle class, hence no decent-paying jobs are available for majority of these women. (Countrystudies : Philippines, 2008) In the

Social Security Essay Example | Topics and Well Written Essays - 1750 words - 1

Social Security - Essay Example   Going by the success of his 2004 re-election campaign, President Bush listed Social Security reforms as his primary domestic priority, regarding which he received ample support from many Republican stalwarts (Galston, 2007).   The whole premise behind this advocacy of a partial and systematic privatization of the Social Security Program was that this program was getting way too unwieldy and was poised to get financially unviable in the times to come (Galston, 2007). The annual report submitted by Social Security Board of Trustees in the year 2009 estimated that the program was poised to register a massive shortfall to the amount of US Dollar 15 trillion over a period of 75 years in the times to come (Social Security Administration, 2009).   This gave credence to the claims made by the Republicans that the only way to make Social Security pragmatic and financially viable was to systematically transfer the social security taxes towards the creation of private investment funds, engaging in large scale borrowing by the government to sustain the immediate Social Security liabilities and to plan drastic cuts in the social security aimed at the future retirees, believing that the gains made by the private investment funds will compensate for these cuts.   This proposal was further supported by the statistical evidence pointing towards the fact that the Federal mandatory spending primarily covering Social Security and social insurance entitlements was also soaring every successive year.

Thursday, July 25, 2019

Protection of human rights and armed conflict Essay

Protection of human rights and armed conflict - Essay Example Humanitarian intervention is primarily motivated by humanitarian objectives but in most of the cases there are strategic motives attached to the military action and the integrity and sovereignty of the state against which the action is taken is challenged which is totally against the UN charter and international law. There are no criteria established for humanitarian intervention to decide when, how and under what circumstances it becomes inevitable to intervene in the internal affairs of a sovereign state. The issue of humanitarian intervention has become the most debatable one ever since the end of the Cold War period because there are two schools of thoughts, one which considers it to be very legitimate, legal and essential for the establishment of UN human rights charter in each and every country of the world while others challenge its legality on the grounds of being against the sovereignty of a state (Murphy, 1996). The essay discusses the legality and effectiveness of the huma nitarian intervention with reference to various incidents of humanitarian intervention and peace operations in different regions of the world. Various different definitions have been presented by scholars from different schools of thoughts. ... The supporters of humanitarian intervention make the objective of provision of fundamental human rights to each and every individual in this world the basis of their support of external interference in the affairs of a state. The scholars and debaters who do not support the idea of humanitarian intervention argue on the basis of the Article 2(4) of the UN Charter which restricts the use of force against any sovereign state. They further argue that humanitarian intervention for the restoration of fundamental human rights can be used as a way of achieving the political and strategic goals by the countries that are imposing a military expedition on a country and this kind of abuse of humanitarian intervention is very easy to carry out. Under such circumstances the humanitarian intervention can never be effective enough to achieve the primary goals of the protection of human rights (Jokic, 2003). There are incidents in which humanitarian intervention has aggravated the violation of human rights in the affected areas. The military personnel of the peace keeping forces are sometimes involved in the violation of human rights. The deciding authority, the UN Security Council in most of the cases is a big question on the legitimacy and efficacy of the humanitarian intervention because certain states have political and strategic motives associated with the governments of certain states. For example recent scenario in Sudan where most of the states in the United Nations Security Council were in favor of a military intervention by UN forces, China had other plans because of its ties with the Sudanese government based on oil supply contracts between the two. In the following pages the effectiveness of humanitarian intervention

Wednesday, July 24, 2019

Major Flaws of Justice System of America Depicted in The Last Line of Essay

Major Flaws of Justice System of America Depicted in The Last Line of Defense - Essay Example In his article, â€Å"The Last Line of Defense† in The Atlantic, journalist, Raymond Bonner advocates the abolishment of death penalty in the criminal justice system of America; however, an overemphasis on the shortcomings of the system, one-sided debate, and biased tone deprive the reader of gaining comprehensive knowledge on the issue. He delineates how numerous underlying arbitrary elements influence criminal proceedings. Therefore, capital punishment can prove prejudicial to the accused. He appeals to the reader’s logic. He quotes two real-life criminal cases in detail to demonstrate how the accused were charged guilty despite evidence pointing to the contrary. For this reason, the author advocates the abolishment of the capital regime as it can lead to the execution of innocent persons. Furthermore, this renders the death penalty unconstitutional and unethical. As evident, the use of logos through referring to real life cases assists the reader in deriving rational conclusions on the issue of the death penalty. Similarly, he establishes ethos and credibility by providing a comprehensive and detailed account of the cases. Persuasive arguments are based on all three techniques as evidenced in this article. Bonner begins the article by expressing concurrence with Diana Holt, an opponent of the death penalty. From the very start, he expresses his disapproval of the capital regime by describing Diana Holt as a â€Å"crusader†. He goes on to portray her struggle against the death penalty as â€Å"heroic, long odds battle†. He deliberately depicts Diana Holt as a national hero in order to convince the readers of the rightfulness of his belief. This use of ethos is essential in building credibility and trustworthiness. Thus, the use of ethos in the title sentence unconsciously leads the readers to believe that the death penalty is undoubtedly unjust.

Tuesday, July 23, 2019

East and Central European countries Essay Example | Topics and Well Written Essays - 2000 words

East and Central European countries - Essay Example uted leaders of technological change are the countries of Western Europe, the United States and Japan, with a high technological culture and monopolize major breakthrough technology of recent decades, in fact already entered the phase of post-industrial development, successfully addressing the socio-economic objectives. In pursuit of the leaders the countries of South-East Asia and China stepped up on the way to build the innovation economy. (Lavigne, 1992) In recent years, many countries of Central East Europe and CIS are actively moving towards the socio-economic modernization and striving for adapting to the rapidly growing processes of globalization, also announced an innovative course as a priority in their development. However, none of the post-socialist countries has been able to integrate in terms of technologically advanced countries, being mainly on the periphery of the global economy. The basis of the structural change and technological upgrading of Central/East European countries is the policy of their governments, aimed at creating a favorable investment climate, ensuring a serious income of foreign investment. In general foreign companies by the end of 2003, invested in the economies of Central/East Europe 162 billion dollars. About the number of foreign investment in national economy of these countries shows the percentage of volume of accumulated investments in GDP, which amounted for Czech Republic 52%, Hungary - 44, Slovakia - 40%. (Inglot, 2008) Among the major foreign investment companies operating in the market in these countries, there are such well-known multinationals as Opel, Volkswagen, PSA, Audi, Toyota, Daewoo, General Motors, Nokia, Philips, Bosh, IBM, Hewlett Packard, General Electric, Electronics, Ford, Suzuki, Sony, Sanyo, Electrolux and others in the field of view of their interests are mainly in the automobile industry, electronics, manufacturing of computer and telecommunications equipment, pharmaceuticals and chemical

Monday, July 22, 2019

Cooking at Home and Eating in a Restaurant Essay Example for Free

Cooking at Home and Eating in a Restaurant Essay Modern life becomes more and more comfortable, but we are busier and busier with our job, with our business. We don’t have time to prepare and cook meals at home. Someone prefers to eat fast- food or eat food in a restaurant, but some one still prefer to eat at home. Eating out or eating at home has also advantages and disadvantages, so which one is better? Cooking at home is similar to eating in a restaurant in many ways. Despite of cooking at home or eating out, we have to pay money for our food or spend our time to cook or to go to the restaurant to eat. For example, instead of spending your time to cook, you have to drive to go to the restaurant or sometimes you waste of time to looking for the parking. We also can taste the dishes we like even though we eat at home or at a restaurant. That is a period of time which your family enjoy eating after a long day with hard worked. With your family’s meal, everybody can talk together, tell some funny stories, or share their jobs. However, there are several differences between eating at home and eating out. Home-cooked meals are always healthy. The food at the restaurant may contain high in fat, high calories and other ingredients which are very harmful for the health. If you cook food at home, you have more control over the ingredients, and you can select the ingredients that you like. Furthermore, eating at home saves you so much money compared to eating in restaurants. Eating out are usually more expensive than cooking at home. In restaurants, they often serve big plates of food. They are too much more food than you need to eat at one meal and the money you spend can add up. For instance, with the money for a meal in a restaurant, you can buy food for the whole week for home-cooking. You can shop at cheapest markets, and look for sale items. Eating in a restaurant is also advantage way. Many people are very busy with their jobs outside the house, so they dont always have time to cook. They like the convenience of eating out. For many reasons such as some one is not very good at cooking, or they like international cuisines or different meals, eating out is the best thing. Cooking at home has a disadvantage that is cooking at home also requires your time. You spend your time to prepare everything like you choose and buy ingredients for cooking your meals. After that, you have to wash dishes and clean up the kitchen. However, eating at home is one of the best ways to enhance the relationship inside your family. Life is busier and people dont have much time to share their time together, even though they are in a family. Eating at home is all members of your family sit around the table and enjoy the dishes that your mother and you prepared and cooked. In your family, when all you prepare and cook meals at home together, you feel warmer and happier. Eating at home and eating in a restaurant are different in many ways, but they have several things in common. It is difficult for us to prefer to. Both eating at restaurants and cooking at home can be satisfying. Both of them can taste good and be enjoyed with your family and friends. I prefer cooking at home because of the money and health issues, but people will make the choice that fits their lifestyle best.

Construction of a Membership Table Essay Example for Free

Construction of a Membership Table Essay The current system that Project use is a manual system and it has proved inefficient, and very easy to lose. Therefore, I propose a computerised database system. Package V Programming Solution For ease, and speed of use, I propose to use the package option. I choose this because the options for everything the database needs are already there, and rather than waste time trying to find a way to make these options in my own programming solution, I will save much time and effort using the package MS ACCESS 97. Also, my programming skills are next to nothing. The Package: Advantages: * Easier to learn as very little programming is involved * The tools for creating the user interface are already available, built into the program which makes construction of the database far quicker. Disadvantages * Depending on the package, this option could be far more difficult, due to problems such as a lack of flexibility, lack of options etc. The self-programmed solution Advantages: * Program will be specific all options can be created so that it will do exactly what it needs to do. Disadvantages: * Will take longer to program * I cant program Data Requirements The data I will require falls into two different categories: member and supplier. The data required will vary depending on which category it falls into. Member Supplier Name of member (e.g. Joe Bloggs) Date of members birth in format of DD/MM/YY (e.g. 24/07/84) Date of registration of membership in format of DD/MM/YY (e.g. 12/06/01) Members full address Members telephone number Name of supplier (e.g. Flip) Name of product sold (e.g. Tom Penny New Wave) Type of product sold (e.g. Deck) Price of product (e.g. à ¯Ã‚ ¿Ã‚ ½50) The members data will be collected by entering all the information from a membership form. The data will not be entered into the database until all the fields on the form are complete. An example of the membership form will be shown later in this section. The suppliers data will have to be entered from the current lists. It will be difficult to enter this data if the current list has been lost. The current procedure if this happens is to re-make a list of suppliers names from their current stock, and re-make the complete list by contacting the respective suppliers. By going through the stock, most of the data of the items supplied will be found. However, in some cases, contact will be necessary. Validation of Data: Members The data entered may be wrong when being entered. Verification and validation will help to get round this problem. Project operates a system in their skateparks, where anyone under 17 MUST wear a helmet for protection. This is down to insurance reasons. Helmets, however, are not the most fashionable piece of clothing you could ever wear, and many members try to find a way out of getting out of wearing them. Therefore, careful attention must be paid when taking down members details to make sure that the data is checked against any valid form of identification I.D. number: This is automatically created by the database as a key field. This has a default value of 000, but will increase in value for each new member. Name: This can be checked against any forms of identification, e.g. bus passes, library cards, national insurance cards (if applicable) Date of birth: There is an obvious mistake if someone gives a birth date making them out to be 102. However, minor mistakes, such as a year or two out, can be checked against the DOBs on bus passes, national insurance cards etc. The format will also have to be correct, as it is being entered in the format DD/MM/YY. The date field will be set to take only the U.K. format, which is the same as above, whereas the American format is MM/DD/YY. Date of registration: the staff will fill this in as the data is entered. The same validation checks as above will be entered. Members full address: The staff can check this in the same way as the name, age etc. They should ask for any forms of identification which contain all this information. Members telephone number: Validation for this will be rather difficult, as there are very few, if any, forms of identification that give out a telephone number for legal reasons. Therefore, the number should be phoned as soon as possible to verify that the phone number is correct. Suppliers Suppliers are not going to give out false information to a company/shop, not if they want to stay in business. This means that Project will not have to worry about finding out if information is true, but making sure it is entered correctly. I.D. number: This is entered in the same way as the i.d. field for the members database. Name of supplier: As mentioned above, the only problem is making sure that this goes in properly e.g. Shorttys instead of Shortys. Address of supplier: This is an absolute must to be entered correctly. Whereas in the name, if a mistake was made, it would still be easy to tell what the name was. However, in the address, a mistake in the number or street could go unnoticed, therefore delivering orders, mail etc to the wrong address. Phone number of supplier: This, again, must be entered correctly for the reasons listed above. Project could find themselves desperately short of stock if they could not contact the suppliers to place orders. Name of product supplied: Not only does Project have a large list of suppliers, each supplier also has a list of products supplied to Project. This means that there is a lot of data to do with stock needing to be entered correctly. Again, the only way to do this is visually making sure there is no mistake when entering in the data. Item number: Every product has a different item number. This insures the uniqueness of each product, so that the stock system knows exactly what product is sold. Type of product: Project doesnt just sell skateboards. They sell shoes, clothes, accessories, hardware, safety gear and more. Rather than have to check in the storeroom what a product is, the database can simply tell them. This must have the type entered correctly. The only chance of a typo occurring in this is if I make a mistake during the implementation. The data in this field is selected from a drop-down list. Price of product: If the price is wrong, customers will be over/under charged. This will not be good for Project. If they undercharge, they lose money. If they overcharge, they lose customers. Therefore it is greatly important that the price is entered correctly.

Sunday, July 21, 2019

Some Things To Know About Laos English Language Essay

Some Things To Know About Laos English Language Essay Lao is located in South-East Asia. It is one of the long history countries with well-established traditional in Asia. Laos has its own culture, traditional which is quite similar to other countries in South-East Asia However, Laoss culture is strongly influenced by religious, Buddhism believe and also nearby countries such as Thailand, Cambodia, and Burma. For people who come from different country, they always have a big crash in culture shock. They must learn and get used to Lao culture which is very important for their new living place. Normally, when they have conversation with Laos, they should use their eyes and common sense to navigate and learn Laos culture. Here is some information guideline for foreigner should know: Laos has its own traditional greeting called Nob where palms are placed together and held in front of the chest or face. The person who is in the lower level/position in social or younger should give a bow or greeting first, then but the oder or l/higher level/position in social person will respond greeting back. There are many levels for showing respect to the person in greeting with Nob. The higher of the hands holding level and the lower of the bow means the higher the degree of respect. During Nob, one should smile and say hello together with. Sa Bai Dee is a word used for the same purpose as  ´Hello ´. Its general meaning is How are you or Im fine. It is also used for meaning I am doing well. It is common in Laos to ask others if they already had dining or meal after greeting. When persons ask this question, they do not normally purpose for the answer but they show their care to those persons they ask. Nation Pride The Lao are truly  happy  being Laos. The Lao  accept  for who are they, what they are doing and  proud  in their long histories and well-established traditions. They appreciate when foreigner shows interest in their culture. Word expression Laos is a feeling sensitive culture. They care for other people feeling. Lao have many words to describe about their feeling and to express how they think. Laos words that are often used in everyday life are Bo Penh Nyang and Tham Ma Dha. These two words have various meaning according to the context. However, all meanings are related and influence by a Buddhist perspective. Bo Penh Nyang directly means No problem. It also has other meanings as never mind or are you all right? In some case, Bo Penh Nyang used with someone did something wrong to express that the action is forgiven. Tham Ma Dha is the word from Buddhist thinking, means everything goes on it way. In everyday life situation, it means average, the norm or everything process as usual. Religious Culture Similar to other countries in South-East Asia, Lao culture is influenced by Buddhism believe.. Buddhism deeply binds with Laoss everyday life and their ways of thinking also their traditional. With Buddhist teaching about the ways of things that things are as they are and as they should be, Lao easily accept the changing. Moreover, Buddhism religious always teach people to be peace and respect to each other. This builds Laos society to be a peaceful living. Lao people also highly give respect to monk and religious related things. Religious and Temple is the center of Lao mental conduct. Body conduct In Laos, as in most Buddhist cultures, head is considered the most precious/highest part of the body. In the other hand, the feet are the least sacred/lowest part of the body. There are many manners and aspects that are related to body conduct. It is necessary to remember this conduct whenever in Laos. Laos do not play other head as it is consider as the high part of body. Dress In big city and urban area, Laos dress the modern cloths in the same way as the western do. However, short and revealing clothes are generally not acceptable in Lao culture. In temple, everybody must wear polite cloth such as women must wear long pant or dress to cover their knee with long sleeve and must not show their chest. Losing face Losing face is a very sensitive situation for Laos. Losing face in public is a humiliated thing. Lao are afraid of being insulted. before talking about something or doing some action, those stuff should be reconsidered if it will cause losing face to anybody. Any form of confrontation for winner and loser which might lead to losing face must be avoided. Business Etiquette Dos DO say Sa Bai Dee as a greeting word in Lao with Laos traditional greeting. If you dont know how to greet in Laos tradition way, it is better to bow a little bit and say hello with a smile. Do smile a lot, Lao people love peaceful atmosphere. They always smile to each other. Do avoid showing affection in public. Lao are quite conservative. Greeting are any action with affection of person is not widely accepts even within the same gender. DO dress with neat and clean business suites for meetings. Lao are easily getting impressed by outside cloths. Do wear polite dress when visiting government, office and temple. Appropriate dress and behavior when entering places are essential. shorts or sleeveless shirts or flip flop is impolite dress. DO take off your shoes when invited into your Lao business colleagues home. Lao people try to keep their places clean. Taking hat and shoes off also are showing respect to the places. Lao appreciate and expect foreigner to do the same. Do crouch your back down when walking pass someone sitting, especially the elder. Lao highly give respect to elder. Also, as crouching back, body of walking person is consider as not higher than sitting person. Do show respect to Buddhism. Foreigner should show respect and be careful on their action in the temples area. Do speak respectful about the religion. One important thing about Buddhism is women should not touch Monks. Donts Do not touch anyone on the head. As head is the most sacred part of the Laos body, touching head is considered as very impolite behavior Dont put your feet on table or chair and shouldnt sit with crossed-leg or point your feet to anyone. The same thing as the previous one, Lao believe that Head is high and Feet are Low. Dont take any people photo without permission. You must ask them first to permission if they are ok or not. Do not shout or raise your voice or lose temper in public. Lao people speak softly and avoid confrontation. Speaking or shouting in loud voice may frighten them. It is also considered as uneducated or uncivilized person. People who lose their temper in public might be looked down on from other people. Do not involving with illegal stuff and sex tourism. The use of drugs is illegal in Laos.. The selling of wildlife and wildlife products should be avoided. Trading antique Buddha, sacred items and other old artifacts are prohibited. They are not allowed to be taken out of Laos. You might have problem when leaving Laos. Sex tourism is also illegal in Lao Business Practical Business Value Business culture in Laos is different from westerners business culture. In order to understand the difference of business culture between different cultures, the person has to have real experience and navigate deeply in the culture. The comparison of the value emphases that can be found for each culture, Laos and Western, are listed in the following Table.1. This table is derived from real experience of western businessman in Lao with his point of view and his own navigating. It can be used as a guideline for more understanding Laos business value. Table.1 Business value emphasis comparison between Lao and Westerners. Source: Laoletter (2008). Lao Business Culture blog. Relationship Businesses are often based on personal relations developed within social circles. In Laos business culture, work and social relationship are getting along and depend on each other. Since the emphasis placed on personal relationships is high, having a reliable and well-connected local agent or representative is crucial to the success of a foreign venture. Lao are seeking for trusted and credible relationships. Relationships progress slowly in Laos with the step-by-step approach. Asking Laos partner about their family, traditions, culture help foreigner understand their Laos partner better and also effective in building the relationship. View of Time Punctuality Lao people are not so punctual. They are often late for the appointment. Normally, they do not have exact plan and time table for their schedule. Foreigner should learn how the locals plan their time and keep their sense of time flexible. However, punctuality from foreign partner is appreciated Business Hours Official office hours are from 8:00 a.m. to 12:00 p.m. and from 1:00 p.m. to 4:00 p.m. from Monday to Friday. In factories and private companies work hours can be extended according to the laws allowance. Business Etiquette Greeting In business, nowadays, handshaking is becoming increasingly common during the conduct of business but only for people with same gender. Men and women should avoid public displays of affection. However, Laos traditional greeting is preferred. Naming Lao people should be called by their first names, with their title Mr//Ms//Madame or Than (in Lao) before the name. In the special occasion or to give higher honors, last name or their family name should be followed after their first name. Dress In Laos business, dress code for business is an importance. Men should wear western clothing such as shirt and trousers for normal business occasion. For special occasion, lightweight suits with tie should be worn. Women usually wear long skirts or blouse with long sleeve covering the shoulders and upper legs. Womens business cloth should avoid showing skin. Another important thing for dressing is perfumes. Laos are quite sensitive to odour. Westerners who have strong body odour should wear soft perfumes. Clean and neat cloths help in giving impression to Laos. Language Official language is Lao. English and Fresh are also commonly used in Business. However, French is more widely used, spoken and understood than English. Business cards When doing business in Lao, carry lots of business cards. Business card exchange is common in Laos business practice. Business cards should be translated into Lao and printed out.   A common used one is to have English version on one side and Lao version on the other side. In business card exchanging, cards should be given and received using both hands. Giving business card with this posture shows honor and humble to the person whom is dealed with. Exchanging business card with one hand also acceptable, but only exchanging with right hand where left hand lightly wrap around wrist and lower arm. The card should never be immediately kept into the pocket or placed somewhere. The detail in card for person name and position should be studied after receiving another persons card. Also, the card should not be written anything down. At meetings, other peoples business cards should be arranged on the table according to the sitting position. This helps tracking of people names.   It also is a sign of respect and interested in for the person. Another important thing is, playing or writing anything down in other people business card is disrespectful action. Business card should be treated with respect in same degree of respect as one would show the person him or herself. Gift Giving It is not required to give the gift when meeting business partner but giving gift shows consideration to other people and good relationship. Gift can be anything and do not have to be expensive things. Gift can be offered to anyone in the meeting but the most importance is giving one for the host or person in the highest rank. Gifts are given in the order of peoples importance or their position.   Wrapped gifts will be opened only when the person is alone. Shoes and socks are not suitable to be gifts in Laos as it is related to foot which is the least sacred part of the body. Green and red are the most suitable colors for wrapping paper in Laos. White wrapping paper, which is considered as unlucky and miserable color, should be avoided. Negotiation Negotiations process in the Lao is quite slow. It is also highly unwell-organized. Lao contracts are normally written in short with simple language. The Laos contract focuses on principles while western contract is obtuse and legalistic. Relationship is more important than the terms and conditions in the contract. They view the contract as the starting point of relationship but are able to change later. The agreement may become meaningless if the circumstances change. Good  relationship with Lao partners is a big help in negotiation. Breaking of negotiation should be done very carefully as it might shut the door on future cooperation.   Seeking for legal  counsel might lead to failed relationship i Meeting Meeting in Lao is not well-conducted.  In many case, meeting for Lao people is made for purpose of opportunities for social occasion. The highest ranking person of the group should be the first one who go into the room and speak to other people.   There is normally business card exchange before the meeting start. Meetings always begin with informal talk with serving coffee or tea.   The served tea or coffee should be drink or sip before main topic start as a polite and appreciate behavior. A several  discussion are normally takes place before launch into the the main topic of the meeting. The host will be the person who starts talking into the main topic. There are several signals from host that indicate the end of meeting. The signals include asking guest if they would like more tea, beginning to summarize things up, thank you for coming, and leading guest to the door. Table Manner If Lao has invited someone to a dinner it means that they interest to build deeper relationship. It is important to return the favor as it is a sign of interested in having relationship with them. Whenever accept dining invitation, it is important to be a host for next meal. If the meal take place at Laos house, remember to take shoes off before enter the house. Guest should not take seat until host invites to sit. For dining at restaurant, do not ask to share the bill if have dining at restaurant if they propose to pay for you. Instead, accept the invitation and then host the next meal. Communication Lao has indirect communication style. Rather than confront a person with an issue or disagreement, Lao prefer a non-confrontational ways of communicating for disagreement. As Laos are collectivism, relationship between people is important thing. They avoid having any conflict in relationships especially when in public.   People are more likely to avoid anger, confrontation or verbal criticisms which can lead to loss of face. Instead of direct confrontation, they try to find another way to solve the conflict. Body languages are quite preserved in Lao. They try to avoid eye contact. They also have few body language gestures. For documentation, written documents should be in both Lao and the foreign language so Lao people could understand more correctly about the content of the document. One more important thing is document written with red ink might get negative feedback from Lao. One more thing that foreigner should know is thing are not as the way they seem to be. For example, Foreigner should never ever take yes of Lao as an answer. Lao normally say yes to indicate that the message has been heard and understood. Yes means maybe or perhaps or no. Maybe means yes, no, or just maybe. And there is really no no as they try to avoid any form of conflict. Another example is bad news from Lao is often slowly  introduced. The main topic is normally come after the word and which generally is when the most important content is revealed. Another important thing in communication is saying Apologize. Lao normally apologize when something happen, even if they did not do anything worng. But they apologize because an  unfortunate incident has occurred. i It is importance to remember how to show respect. When in Laos, try and do as the Laos. Do and remember about body conduct, dress, and public affection and religious manner.

Saturday, July 20, 2019

La Vitesse, Une Erreur? :: essays research papers

 «La principale erreur de notre temps est de chercher en toute chose la vitesse.  » Expliquez voire discuter cette idà ©e en vous servant d’exemples prà ©cis. Nous sommes au sià ¨cle de la vitesse, le monde grouille, fourmille, s’agite pour concurrencer, moderniser, produire†¦Nous sommes entraà ®nà ©s dans une spirale qui s’accà ©là ¨re sans cesse. En essayant d’aller toujours plus vite, de gagner toujours plus de temps, ne faisons-nous pas le contraire, ne perdons-nous pas l’essentiel de la vie en essayant d’aller toujours plus vite? Tout d’abord examinons la vitesse dans les transports, celle qui tue plusieurs millions de personnes par an. Cette vitesse est nà ©faste tout d’abord car elle cause plus de 50% des accidents meurtriers. De plus le temps gagnà © sur les routes est surà ©valuà ©( de l’ordre de 6 min quand on roule en continu à   150 km/h au lieu de 130km/h pendant 100 kilomà ¨tres), enfin la tension et la fatigue accumulà ©es ne valent pas les quelques minutes à ©pargnà ©es. Cette course à   la vitesse a pu grà ¢ce à   la technologie moderne profiter de moyens encore plus rapides et encore plus inhumains tel que le mà ©tro. Les gens qui prennent le mà ©tro pensent gagner du temps mais en rà ©alità © ils en perdent, car au lieu de prendre leur temps pour avoir un trajet plaisant, passer à   pied dans des endroits qui leur sont agrà ©ables, seul pour se relaxer ou à   plusieurs, d’une faà §on conviviale. Le temps du trajet mà ªme s’il est plus long ne serait pas perdu à   attendre, à ªtre bousculer ou s’à ©nerver. Cette phobie de la perte du temps, est d’autant mieux illustrà © par le succà ¨s des  «fast foods », ce terme dà ©signe un mode de restauration rapide oà ¹ les aliments sont prà ©parà ©s et servis dans un minimum de temps grà ¢ce à   des techniques et des opà ©rations planifià ©es. L’exemple le plus connu de ces restaurants rapides est le  «Mac Donald », importà © des à ©tats unis, on y mange vite et pour un prix trà ¨s bas. Mais ce type de restaurants favorisent la vitesse au dà ©triment du goà »t et de la qualità ©. De la mà ªme manià ¨re les individus qui vont manger dans ces restaurants perdent le meilleur du repas, au lieu de vivre celui-ci comme un temps de pause dans une journà ©e effrà ©nà ©e, le vivent encore comme un stress au milieu des bousculades, s’en prendre le temps de goà »ter aux bonnes choses que la vie nous offre mais qu’il faut prendre le temps de savourer. Cette obsession de vitesse se traduit aussi par un besoin de changer sans cesse: on change de voitures, de và ªtements, de loisirs, de milieu†¦Cette soif de nouveautà © jamais tarie.

Friday, July 19, 2019

The Work of Langston Hughes Essay example -- Poetry Langston Hughes Au

The Work of Langston Hughes Langston Hughes is considered by many readers to be the most significant black poet of the twentieth century. He is described as  ³...the beloved author of poems steeped in the richness of African American culture, poems that exude Hughes ¹s affection for black Americans across all divisions of region, class, and gender. ² (Rampersad 3) His writing was both depressing and uplifting at times. His poetry, spanning five decades from 1926 to 1967, reflected the changing black experience in America, from the Harlem Renaissance to the turbulent sixties. At the beginning of his career, he was surrounded by the Harlem Renaissance. New York City in the 1920 ¹s was a place of immense growth and richness in African-American culture and art. For Hughes, this was the perfect opportunity to establish his poems. His early work reflects the happy times of the era. However, as time progressed he became increasingly bitter and upset over race relations. Except for a few examples, all his poems from this later period spoke about social injustice in America. The somber tone of his writing often reflected his mood. Race relations was the shadow of his career, following him from his first poem to his last. The tone and subject matter of Hughes ¹s poetry can be linked to certain points in history, and his life. The youth of Hughes is brought out by his poem  ³Harlem Night Club ², a piece which describes living in the moment. Often children do not consider the consequences of their actions; they act on instinct and desire. Hughes might have been 27 when he wrote this poem, but the feisty, upbeat tempo of a school boy is present in his style.  ³Harlem Night Club ² is unique in that it describes the integration of blacks and whites in an optimistic tone. The vigor and spirit of his youth is reflected in the energy of the writing,  ³Jazz-band, jazz-band, ­ / Play, plAY, PLAY! / Tomorrow....who knows? / Dance today! ² The repetition of the words, and the increasing emphasis on the word  ³play ² bring out the excitement to the reader. More evidence of Hughes ¹s youth comes from the very focus of the poem: the interracial couples. The entire poem can be summed up as  ³...a single-glance tableau of interracial flirtation against a background of heady jazz. ² (Emanuel 120) This festive relationship between the two sexes can rarely be seen in any of Hughes ¹s later poems. At th... ... civil rights movement had peaked, Hughes is left feeling worthless. The bitterness he faced during his lifetime built up to a dull apathy that appears in this piece. Despite the fact that Hughes is  ³...among the most eloquent American poets to have sung about the wounds caused by injustice ² (Rampersad 3), he thought his poems made no impact on society. On the contrary, Hughes ¹s poems had a tremendous influence on African-American society. Although scholars and critics throughout his career dismissed his poetry as too  ³simple and unlearned, ² his primary audience, the black masses, and even Hughes himself viewed his work as  ³folk poetry ² which was beneath criticism. (Rampersad 4-5) His poems, when studied as a collection over the span of his life, clearly show how the tone and emphasis in the writing reflect the mood of Hughes himself as he grew old. The universal theme of racism and race relations defined all the important work of Langston Hughes. Langston Hu ghes Danny Belinkie December 23, 1999 Period 2 Works Cited Emanuel, James. Langston Hughes. Twayne Publishers, Boston, 1967. Arnold Rampersad. The Collected Poems of Langston Hughes. Vintage Classics, New York, 1994.

Free College Admissions Essays - MS Will Not Kill My Dream :: College Admissions Essays

MS Will Not Kill My Dream My story with MS began on December 4, 1999. I arrived at school as usual that cold winter morning feeling pretty good, a little tired, but other wise ok. Upon parking my car and opening the door to get out my right arm went to "sleep." I was totally blown away by it. How bizarre I thought to myself and just sat there a moment trying to figure out what possibly could be wrong with my arm. The next two days brought no relief and if anything it seemed to be getting more intense. My WHOLE arm was asleep and I just couldn't understand it. I visited a chiropractor a couple of days later and she said I was dehyrdrated and that my nervous system was under attack. Little did I know! I became increasingly concerned as the days passed and just couldn't buy what everyone was telling me, that I had a pinched nerve. I just knew it was something more and it was! I found a doctor about two weeks later and by that time my right hand was barely useable and the right side of my face, head and chest had also gone numb. I was scared to death! This doctor was wonderful and immediatly ran tests, sent me to a specialist, (neurologist) and spent hours with me examining me and trying to figure out just what could be wrong with me! MS never crossed my mind. A nurse of over ten years I have taken care of only ONE MS patient, a lady in her 90's! MS just didnt occur to me. After several visits to the neurologist, MRI, spinal tap and a slew of blood work I was told that MS was VERY likely the culprit. I was, to say the least, devastated by this news. I cried and cried and greived over this. It was with great fortune that a lady I worked with became extremly helpful to me during this time and prayed for me, listened to me and on more than one occasion, let me cry on her shoulder. On March 4, 2000 I visited a MS specialist at Dartmouth Hitchcock Hospital in Lebanon N.H. and he made it official that it was MS and immediatly started me on Avonex. At this point I had researched the disease endlessly, somewhat come to terms with this awful fate and began to think more positively.

Thursday, July 18, 2019

Personal Values Development Essay

In each and every day of an individual’s life he or she has to face various kinds of decisions. He or she has to make simple choices like the clothes to wear for a particular day or the right food to eat. There are also crucial and important decisions that can change his or her life such as choosing a career path or moving to another state. Nevertheless, individuals also have to assess the way in which they will deal with particular situations as well as their interaction with other people. In these instances, it is very important that every individual has a particular ethical standard that he or she must adhere to. These will serve as a basis in which a person could be guided according in his or her decisions and actions. It is also important to realize that in almost all of the choices that a person made there are corresponding consequences that will directly or indirectly affect the person who made the decision and even other people. Being the case, it is vital that an individual’s decision-making process is governed by ethical standards. Personal values can be considered as an ethical standard of an individual. These are the morals and principles that he or she believe and uphold. His or her judgment is usually based upon these personal values that he or she stands for. In the process of his or her interaction with other people as well as his or her stance regarding specific societal issues are usually guided by personal values. Simply put, the personal values of an individual govern his or her behavior. The development of these personal values does not happen overnight. In order to enhance the personal values of an individual ample amount of time is needed and important factors around him or her must also be given due consideration because these greatly influence the formation of his or her morals and principles. Personal values tend to developed as an individual matures. The level of maturity of an individual that is enhanced by the different situations and challenges that he or she went through also contribute to that person’s perspective and attitude ethical behavior. The formative years of a child is the most important phase by which values and principles could be instill in him or her. It is during this time that a child simply obeys and believes in almost anything that a parent or other adults would teach him or her. This could be exemplified by my personal experience when I was still a kid. I remember that my parents applied the concept of reward and punishment in disciplining me when I was just a young child. They would give me things that I want like toys and food such as chocolate and candies as long as I follow what they instructed me to do. My mom would usually say that I am doing the right thing that is why I should be rewarded. On the other hand, whenever I disobey their wishes like when they told me not to play in the mud, I would be reprimanded. They would punish me by spanking me and then explaining why they have to result to such action. Due to these, at a young age, I learned that if I do what is right then I would reap the benefits of it while doing the opposite would entail consequences that I must suffer from. As such, it developed in me that in order to acquire good things I must do what is right. When I was in pre-school, I started to interact more with kids that are around my age. I can say that my teachers at that time influenced some of the values that I formed in my life. Every recess period, most of the kids like me would usually spend their time in the playground. Almost all of the children were allowed to bring their favorite toy at school. One time, when I was playing with my toy, a classmate of mine approached me and asked if he can see it. At first, I was hesitant to let him borrow it but then our teacher approach me and convinced me that I should share it with him. My teacher further explained that for other people to also lend me their toy I should also do the same thing to them. This was one of the instances that I realized the principle of reciprocity wherein in order for you to be treated nicely you should also do the same for others. An individual get what he or she gives out (Maxey, 2005). This principle of reciprocity was further developed in me when I started to become aware of my religious faith. My family gives importance to our religion, which is why it has become part of their responsibility in rearing us to also enhance our spiritual growth. Our religion has played an important role in their method of disciplining us. They would see to it that the rules and regulations that they impose upon us coincides with our religious teachings. One of the most important lessons that I will always remember is the Golden Rule. The idea of the Golden Rule is also similar with the principle of reciprocity wherein it states that â€Å"Do not do to others what you would not like yourself† (Teaching Values, 2000). I also found out that this exact teaching also exists in other religious belief. This value was instilled in me in a sense that most of the time before I do something I always think of its possible consequences. I would place myself in the shoes of other people and analyze what I would feel if this particular action is done towards me. Since then I became conscious of my decisions. This could be best exemplified by my idea of respect wherein in order for other people to respect me I must also give the same courtesy to them. However, I later found out that not all people are guided by this same kind of principle. There are those who would still do you harm regardless of whether you do good things to them. I found this the hard way when I was in high school. I experienced interacting with students who are considered as bullied of the campus. During my freshman year, they approached me in this good natured manner and I thought that they were actually trying to be friendly to me. Later on, I realized that I was just part of a joke wherein they would ask me to do a lot of things for them like their school works and asked me to run errands for them. The time came when I had enough of such kind of maltreatment and I started to stand my ground and told them that I would no longer obey any of their orders. At first, they were shock with such kind of reaction coming from me but later on they just let me go as they no that they could no longer bully me. In this situation, I realized that there are instances that the golden rule is not always applicable because even though you behave properly toward other people there are still those who would take advantage of you. Due to this, I also realized when to fight and stand your ground in defending your right especially when other people are violating it. As I grow older, I become exposed with more harsh realities of the world. There are situation wherein people tend to put their selves in an advantageous position at the expense of others. I experienced this kind of event when one of my classmates encouraged me to cheat in one of our exams. He told me that he got the set of questions from one of his friend who was in charge of the copying machine. This classmate of mine asked me to help him in answering the questions. In doing so, we are both sure that we could get high grades for this subject. However, doing so would be very risky not only for us if we get caught but also for our other students who are also taking that subject because the teachers would automatically impose a re-test and will surely make a harder exam questions. The situation would indeed be beneficial for me and for my friend if we successfully accomplish it but it would be detrimental for many people if not. The costs in this situation are greater than its benefits. As such, I decided not to participate in this kind of cheating and I was able to also encourage my classmate not to do it. The influence of my family, religion, and educational institution as well as the various events that I have to go through was able to help me in developing my personal values. My personal values tend to focus on doing what I deem is right and just that will not only benefit me but also take into consideration the welfare of other people. Having this kind of morals and principles are very essential especially when the time comes that I already have to pursue a career in my chosen field of profession. This would help me in dealing with various kinds of people that have different personalities and attitude from each other. Moreover, this would also guide me in making decisions and choices when it comes to the challenging situations that I will encounter I my future endeavors. My personal values also adhere to the principles of some theories of ethics. The morals that I adhere to during my childhood days up to my older years is greatly exemplified by the ideas of Cognitive Moral Development. As proposed by Lawrence Kohlberg the idea of ethics could be acquired through education. Just as people develop other aspects of their being, they could also develop ethical values. As an individual matures, he or she has to go through different stages of ethical thinking that helps him or her to know oneself better. A person strives to make the next level better than the previous one in his or her process of moral development (Northern Arizona University, n. d. ). This described the development of my personal values that improves and become wider and diverse as I get older. My values in life that follow the principle of reciprocity and the teaching of the Golden Rule could be linked to the Universalism theory of ethics. The Universalist perspective explains that ethical principles should be applicable to everybody and not merely to an individual or group of people (Routledge Encyclopedia of Philosophy, 2002). In the same manner, the concept of reciprocity and the Golden Rule is similar to the Universalism theory of ethics because it gives emphasizes that an action made by one person should also be applicable to other people. An individual should put his or her self in the position of others to see if such decision or action is also agreeable to them. Lastly, the instance wherein I gave importance to the welfare of the majority of schoolmates instead of the benefit my friend and I will get from cheating follows the tenets of the Utilitarian theory of ethics. Utilitarianism asserted that a right act is the one that gives the greatest amount of good as compared to evil for all people concern (Northern Arizona University, n. d. ). In this sense, I was able to apply the utilitarian concept in the development of my personal values. The development of an individual’s personal values is largely dependent upon many aspects. Some essential factors are the span of time and level of maturity of a person. This allows him or her to interact with other people and experience various events. In relation to this, the people around an individual like his or her family and friends also have a great influence in the formation of his or her values in life. Different institutions like the church and school also help in molding the morals and principles of a person. In all of these, it can be said that personal values are something that an individual can learn, change and enhance in order for it to adhere to the beliefs that he or she uphold. Having this personal values are indeed important to guide a person in his or her journey in life.

Wednesday, July 17, 2019

Globalization and genocide Essay

The twentieth century has seen a lot of inventions keep down into being, from the invention of the engine, to the manufacturing of airplanes. consequently there came the aspect of globalisation. The ground that was so large started shrinking on a daily basis until fin on the wholey, b dedicates seemed to gravel evaporated into melt off air even between continents. Today, a mortal whitethorn be in London in the morning and in the evening he is in Washington. converse has in addition been made easier and more than in effect(p) in such a focusing that you can talk to a person who is thousands of miles away, as if you ar talking to the person next door.The founding has become a sm al to fetchher community. Successes and failures However, there ar mars that get come with globalization. Lechner and Boli (2004) in their book The globalization Reader argues that while there has been shortcoming of globalization be come of the strain it has exerted on the surroundings th ereby degrading it. dapple the countries exclusively told over the world mystify been on the job(p) to see their economies develop, this has been at the write down of the surroundings. virtuoso of these causes of surroundingsal degradation according to their leaning is the destroying of the natural environment.Large tracts of t integrity cover land are destroy each year leaving the land devoid and in a few days no longer unproductive. This, they argue, is non the plainly cause of environmental degradation. An early(a)(a) cause is the releasing of harmful chemicals into the environment. Example is the Chernobyl atomic accident. After this accident, there were galore(postnominal) thermonuclear substances that were released into the environment and over the eld conduct caused cancer. Fossil kindles withstand overly contributed greatly to the destruction of the environment.While these be possessed of provided fuel for industries, carbon dioxide emissions has bee n on the rise thereby causing global warming. be there ways and reckons to reverse the authentic trends of environmental degradation in order to make out secure our future? However, in spite of all this destruction, there has been an effort to give and slow down if non to only stop the rate at which the environment is destroyed. Whereas the governments adopt not been keen comely to conserve the environment, Lechner and Boli (2004) argue that there are environmentalists who have rallied for conservation of this precious environment.In 1992, Rio de Janeiro Declaration on Environment and emergence proposed that, for a meaningful development to be achieved, environment conservation essential come first. on that demonstrate are also who have argued that for environment to be conserved oddly in poor nations, the rich nations must cancel their debts since the small governments spend all their earnings paying debts at the expense of local development, thus forcing it peck t o alone rely on an already take land hence furthering the cause of environmental destruction. Others have used all their minerals on debts without caring much on the effects this has on the environment.There are also organizations that were formed to champion for the guard of the environment. Their discover is on the political class to make their priorities right by spending slight on military and more on environment protection, not just for this dates but also for future generation. Issues of beggary have been cited as the biggest enemy to the protection of the environment. An example is of Mau forest in Kenya. While this forest has been the water catchments and the source of some rivers in Kenya, it faces the peril of being destroyed because of serviceman activities.At the moment, part of the forest has been inhabited by raft who are poor and therefore not unbidden to move out. The government of Kenya on the some other hand is also unable to fall down these pile e lsewhere since it doesnt have resources. The neighboring nations namely Uganda and Tanzania face the akin plight as Kenya and cannot help the Kenyan government yet these rivers drain in Lake capital of Seychelles which is shared among them. These activities that have stirred a nation environmentally do not affect just one person. The Mau forest in Kenya is a unassailable example.If the future of Mau forest is not solved, eventually, Egypt which doesnt even border Kenya will be affected since it depends on water from Lake Victoria through river Nile for its irrigation. Human beings set about the danger of extinction on a daily, more so from environmental degradation. Nevertheless, it is possible to have a better world. A world where pollution is controlled and excellent environment that is not contaminated is the ultimate choice for everyone. There have been meetings called by different people all over the world to manage for the right to live in a non polluted environment.An ur ge to have those that are considered the minority in the society to act in the process of policy qualification has been on the rise. Is it possible, when we are united unneurotic as a people, to fight for our environment? Genocide The effects of globalization have not been felt in the environmental circle alone. Social life in many places throughout the world has been modify because of globalization. According to Gellately and Kiernan (2003) examines the atrocities that have been committed against humanity, any(prenominal) among them committed by the civilized as they championed for globalization.For example, there were mass murders that were committed at Guatemala, sponsored by the US government. In this revolution, the Mayan community was massacred and the world kept mum. Even when as a commission to investigate these events was setup, their storey did not reveal the motives behind these killings, and the people behind it. The Mayan people are not the only ones that have bee n affected. Yugoslavia in 1991 faced race murder whereby a minority root word was targeted and massacred. Politics and cruelty has been the order of the day. Politicians have been k this instantn to use people to get into position and then turn against these people.These acts of savageness are yet to end. Societies throughout the world still experience mass murders in their midst. Technology, which is supposed to ease the way life, is now being used against people. US is not spared either. September 11 attacks proved that people are willing to go all the way to destroy others. While we may toy around with the nous of whether to assess our stand towards globalization or not, we must always remember that a time is coming when we shall not enjoy the residual our beaches offer us as we do today.At that time, there will be no trees for our wildlife and therefore no rain. For countries in Sub Saharan Africa, this will mean that there will be no food since these communities have alwa ys depended on rain for their agricultural activities. Just as a reminder, that time is already at hand. We are already seeing the effects of globalization on our environment. Yet, the question we direct ourselves is, Are we ready to shove the idea of globalization beneath the carpet and calculate for a new alternative? roughly of the greatest crimes against humanity were committed at a time when we considered the world to be on a highway to graceful one community with no barriers. That was in the mid 1990s, a racial extermination that leftfield many dead with many other maimed. Yet, the global community never radius a single word until it was all over. According to Gellately and Kiernan (2003), these acts of brutality have practically been sparked by oppression through the years by those who are powerful. After many years of oppression, those who have been oppressed swarm their anger on those who are incapacitated and vulnerable and therefore cannot defend themselves.In the end, we witness the kind of crimes like those that happened in Rwanda (p 375). We cannot also ignore the fact that technical advances in warfare have also been the cause of genocides in our communities. Cases in point are the Nazis in Germany the use of insalubrious gases against the Kurds in Iraq the September 11 attacks on US soil. These have all engaged the use of technology to perpetrate crime. Thus, the globalization that was supposed to bring us together has also been the source of death and separationism in our communities.Are we as human being going through a transition that is changing us for the worse i. e. turning us against each other? Is globalization therefore the cause of genocide or a solution to eradicating genocide in the current world? Are we our own enemies?References Lechner, F & Boli, J. (2004). The globalization reader. new-fashioned Jersey, USA Published by Wiley-Blackwell. Gellately, R. & Kiernan, B. (2003). The nicety of genocide mass murder in histo rical perspective. Cambridge, UK Published by Cambridge University Press.

Tuesday, July 16, 2019

Only the Strong Survive

Only the Strong Survive

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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