Persuasive Essay: Legalizing Marijuana Essay

Marijuana use is on the rise, especially among teenagers and young adults. With the recent laws passed in eight states about legalizing medical marijuana , many stand divided when it comes to this never ending debate, but I firmly believe that this miracle working drug should be legalized throughout the United States. Marijuana is by far the most commonly used illegal drug. Statistics show that over 70 million Americans have tried Marijuana and over 20 million smoked it last year. So it is safe to assume that although marijuana use may decrease in the years to come, as did Heroin and LSD, it is here to stay. Colorado, Nevada, Alaska, California, Hawaii, Maine, Oregon & Washington have already passed laws allowing the use of medical Marijuana. In the fall of 1996, California voters approved the medical marijuana initiative (proposition 215). The act is entitled The Compassionate Use Act of 1996 and its purpose is to give Californians the right to possess and grow marijuana for medical purposes, where the medical use is deemed appropriate and has been recommended by a doctor who has determined the person’s health would benefit from the use of marijuana in the treatment of Cancer, anorexia, AIDS, chronic pain, spasticity, glaucoma, arthritis, migraines, or any other illness for which marijuana provides relief. Nothing in the act permits persons using marijuana for medical purposes to engage in conduct that endangers others, allows distribution of marijuana for non medical purposes or permits the buying or selling of marijuana. Dennis Peron, the man who launched proposition 215 also started the cannabis buyers club in San Francisco. The purpose behind starting this club was to distribute weed to AIDS, cancer and other patients. With only a doctors note the club’s 12,000  members could buy pot and then relax while listening to music, nothing harmful at all! And of course the San Francisco police department eventually closed the club down. The main idea behind legalizing drugs is it’s medical advantages. Marijuana is said to have many uses as healing drug. Marijuana being used as medicine has been studied for many years. In many cultures it is used as medicine and stems back many generations. The first recorded use of marijuana as medicine was in China. It has been said that in Pen Tsao Ching during the first or second century, boiled hemp compound was used as an anesthetic for surgical patients. The compound is said to have many uses including, clearing the blood, cooling temperature, clearing fluxes, undoing rheumatism and discharging pus from patients. China isn’t the only country to use this drug in early times it was introduced in Southeast Asia in the sixteenth century. Cambodia, Thailand and Vietnam are said to have current uses of marijuana for medicine. In Cambodia they have an enormous list of uses, including, treating malaria, reliving asthma, calming the nerves, regulating the heart and treati ng paralysis. In Thailand, it’s used in folk medicine as well as in the official medical reports. In folk medicine, people dry the leaves and then boil them to treat migraines and dizzy spells. Marijuana has survived the passing of time and still helps the sick today. The advanced stages of treatment for patients with Cancer, AIDS and other diseases often include, terrible nausea, vomiting, and different types of pain. Patients have reported much relief from these devastating symptoms by using marijuana. The alleviation of said symptoms can be so striking that some patients and their families having been willing to risk jail time to obtain or grow marijuana. Marijuana must be studied and tested more to prove effectiveness but because it is not legal, doctors don’t want to study a drug that they could never use. In 1988 administrative law judge Francis Young found that marijuana in it’s natural form is one of the safest therapeutically active substances known to man. At present it is estimated that marijuana’s lethal dose is around 1:20,000 or 1:40,000. Or simply put, a smoker would theoretically have to  consume 20,000 to 40,000 times as much marijuana as is contained in one marijuana cigarette or joint, nearly 1500 pounds of marijuana in about fifteen minutes to induce a lethal response. Which basically means marijuana is non-lethal, as it is impossible to consume that much in such a short amount of time. Advocates of legalization raise several points. They claim the there would be fewer people selling drugs because it would be regulated and profits would be cut. They also claim that drug-dealing criminals would virtually vanish causing crime and violence rates to plummet. Legalizing marijuana raises a lot of questions for instance, who would sell the drugs? Private companies? The government? How would legalization affect health insurance and the overall cost of healthcare? And probably the most important question of all, would the use of legalized drugs by employees in certain occupations be prohibited? Since marijuana can remain in the body for weeks after use, would marijuana use by employees in jobs in which safety and security are issues be forbidden, even when off the clock? What about airline pilots, surgeons, police, firefighters, military personnel, bus drivers, railroad engineers, cross country truckers, nuclear reactor operators and even wall street brokers and teachers As far as America is concerned, we are the land of the free . Or are we? Do people have a right to â€Å"get high†? As times change and we progress into the future should our laws change as well? Only time will tell as the war against drugs wages on and the fight to le galized marijuana leaves a country divided. Work Cited LaFave, Kathi. Marijuana As Medicine?. www.personal.umd.umich.edu/marcyb/mj/lafave.html.online.1999 Miller, Lawrence Richard. The Case For Legalizing Drugs. New York: Praeger, 1991 Schaler, Jeffrey A. Drugs. New York: Prometheus Books, 1998 Zimmer, Lynn, Morgan ,John P. Marijuana Myths Marijuana Facts. New York: Lindesmith Center, 1997.

Communication and Personality in Negotiation

Over the years, negotiation has been a tactic used for different situations whether personal or professional. In theory, negotiation concepts and terms have been used to understand and analyze the purpose of negotiation by evaluating different characteristics. To better understand the concept of negotiation, the roles of communication and personality in negotiation and how they contributed to or detracted from the negotiation is analyzed. For example, a scenario is used further into this paper demonstrating these roles in the area of sales, using the different processes of negotiation in a win- win situation. In the process of negotiation, two parties usually resolve a situation using the process of perception to connect in their surrounding environment. However, negotiation is the bargaining between two parties who are trying to attain or win a situation, utilizing the key concepts of managing interdependence, engaging in mutual adjustment, creating value, and managing a conflict. Although these key concepts are the stepping stone in the function to negotiate, communication and personality roles in negotiation usually determines the different areas of communication and personality that analyzes different non verbal communication levels, communication channels, listening, and the five big personality factors in negotiation. Thus conflict also plays an important role where decisions and goals are perceived. The communication role. In the role of communication, the acceptable functions of questioning, active listening, positive eye contact and body language, and non polarizing language usually encodes and decodes messages that are been carried from one party to another which then results in a positive or negative feedback. Hence, the function of questioning in negotiation is used by an arguing party when they are trying to find out the sole purpose of the other parties goal in order to reach an understanding. This function questioning, is communicated through eye contact when a question is been asked, head nods to reveal understanding, and gestures to demonstrate the question. Also, questioning can take place face to face, on the phone or even through e-mail. These levels of communication described may be known as non verbal or different communication channels used in many functions of negotiation. On the other hand, active listening is perceived when a receiver in the arguing party restates or paraphrases the sender’s message in their own language (S. B. Lewicki , 2005). Positive eye contact and body language, and non polarizing language illustrate the negotiators’ feelings, reactions or thoughts for interpretation. The personality role An individual’s personality evaluates factors of that individual when in negotiation. A person who is in a negotiation may attain the factors of extroversion, agreeableness, conscientiousness, and emotional stability. A person who has the personality trait of being extroversion is more relaxed and very confident, but needs stimulation to express emotions (extraversion, 2002). Agreeableness as a personality is one trait that comes out when both parties can agree on the similarities of a situation to close their bargaining. Conscientiousness displays emotion at its best when an individual is trying to get over on someone, but does not care because they are the one who will come out on top at the end of the situation. Moreover, emotional stability can be described as an individual who keeps a poker face in any situation. This personality trait is perceived by others as power. Conflict. Conflict in negotiation usually arises when two parties are negotiating for different goals. There are four levels of conflict; intrapersonal conflict that happens within a person, interpersonal that happens between two individuals, intergroup happens within a group, and intergroup that happens between groups. On a whole, conflict is what leads to negotiation in regard to solving a problem for a win-win situation. Scenario As mentioned in the above, negotiation has been a tactic used for different situations whether personal or professional. In this scenario, a sales representative at ADT security Systems was contacting a previous ADT customer who has an inactive alarm in their home. In addition, when the customer was contacted, the sales rep asked the customer if they wanted to be reactivated for free as a part of a special promotion that ADT was offering. As a result, the customer was very perceptive because of constant bad experiences with ADT as a security service provider. This customer’s bad experience was based on equipment not working, alarm keep on going off when there wasn’t anyone breaking in, and having low battery all the time. Because of these poor happenings, the customer went to the competition of ADT which is brinks as a security service provider. Furthermore, the customer told the sales representative that he would go back to ADT if he could get a credit towards a new alarm system or a lower monthly than what he is currently paying with brinks. The customer pays $25. 99 with brinks based on just monitoring. Being in sales, the sales representative asked the customer if maintenance was included in the monitoring charge (maintenance is an extra charge for malfunctions of systems where the company comes out and fix for free) the customer said no. In contrast, the sales representative told the customer that she can offer him a monthly plan that includes maintenance and an extra two months free. The customer began thinking because he had never had that offer with brinks, but he was also persistent because the monthly was $8. 00 dollars higher than brinks. On a negotiated aspect, the customer started declining, saying that was not enough and wanted more, so the sales representative began offering him free equipment in exchange for him paying the monthly that she was offering. Thinking is what the customer was doing, he eventually caved to the sales representative terms, got his free equipments, and the sales rep got her sale at a higher monthly than what the customer was paying for brinks. By contrast, this situation was a win-win situation for both the customer and the sales representative at ADT security systems. Negotiation occurs when there are conflicts to be resolved. These conflicts may arise when two parties cannot agree or when two parties needs to resolve a problem. The process of negotiation has been used for many years covering the areas of sales or contracts. Some negotiations are of win-win situations and some or not, depending on the dilemma. Is it necessary to negotiate? Yes it is. Why? Negotiation brings out characteristics in situations to decode messages that are perceived the wrong or right way. Negotiation is the tool of effectiveness to get the problem solved efficiently. References S. B . Lewicki , 2005. Negotiation chapter 5, the McGraw Hill companies 2005. Retrieved on September 30th, 2009, from https://ecampus. phoenix. edu/content/eBookLibrary2/content/DownloadList. aspx? assetMetaId=9ef17708-1ddf-4b07-b135-33c10b621f8e&assetDataId=42d4c19a-d69c-4c0c-99ad-e443574b3e01 Extraversion, 2002. Extraversion. Retrieved on September 30th, 2009, from http://changingminds. org/explanations/preferences/extravert_introvert. htm

Statistics - Q Essay Example | Topics and Well Written Essays - 2000 words

Statistics - Q - Essay Example 9. To study the spending habits of shoppers in Orlando, Florida, fifty randomly selected shoppers at a mall were surveyed to determine the number of credit cards they carried. The following results were obtained. The data in part (b) are 30 times the data in part (a).The data in part (b) are 40 times the data in part (a).  Ã‚  Ã‚  Ã‚  The data in part (b) are 70 times the data in part (a).The data in part (b) are 60 times the data in part (a).The data in part (b) are 120 times the data in part (a). The mean and mode in part (b) are 70 times the mean and mode in part (a). Neither data set had a median.The mean and median in part (b) are 60 times the mean and median in part (a). Neither data set had a mode.  Ã‚  Ã‚  Ã‚  The mean, median and mode in part (b) are 60 times the mean, median and mode in part (a).The mean and median in part (b) are 50 times the mean and median in part (a). Neither data set had a mode.The mean in part (b) are 50 times the mean in part (a). Neither data set had a mode. 14. Jerry Rice holds the all-time record in professional football for scoring touchdowns. The number of touchdown receptions (TDs) for each of his seasons is given in the following table. Find the mean, median, and mode of the number of touchdown receptions per year by Rice. (Enter solutions for mode from smallest to largest. If there are any unused answer boxes, enter NONE in the last

Managing In a Global Environment Coursework Example | Topics and Well Written Essays - 750 words

Managing In a Global Environment - Coursework Example Higgins’ turning point, according to Prescott, had to do with his marriage to a Japanese woman, which pulled him further into the Japanese culture. Prescott believed that success as an international executive involved blending the home viewpoint and comprehension of foreign culture. This paper aims to discuss the nature of this managerial problem, give alternative solutions to the problem and finally give recommendations on how to deal with the problem. The major conflict between Leonard Prescott and his assistant, Higgins John, comes from the fact that while Prescott is an international businessman possessing over twenty five years of experience at Weaver, Higgins is relatively young and has more attachment to Japan. Prescott has spent most of his time in various countries such as the Philippines, India, and Mexico, as well as years spent at the company’s US international division. He believed that the American way was best, an ethnocentric attitude that was in stark c ontrast to Higgins. Higgins was more attached to Japan and even involved himself in the lives of his employees and his Japanese neighbors. Higgins preferred to use his fully paid leave to visit remote areas in Japan, instead of returning to the United States. Prescott followed an entirely different behavioral practice, preferring to keep his distance from the Japanese. As an experienced businessman from the US, he preferred to maintain a distance between him and his subordinates. His viewpoint was that the personal life of employees must not be mixed with their professional life and that the employees doing so were engaging in time-wasting activities, including Higgins. Prescott is also not in favor of the decentralized decision making approach adopted by Higgins that included employee suggestions in management policies. Higgins, on the other hand, does not believe in power distance. Rather, he insists on consultation and maintenance of employee relationships. Higgins’ approa ch led to him vehemently rejecting the dismissal of one manager who apparently lacked initiative, general competency and leadership. Prescott’s attitude focuses on individualism and personal performance while Higgins leant more towards a collective workplace atmosphere. Higgins was also more trusting of his Japanese employees than Prescott, and thus, laid down contingency plans for future failure. As the Weaver Corporate Manager, it is vital that people have a good working relationship in the workplace to achieve the organization’s objectives (Daft, 2012: p23). Therefore, where the conflict between Higgins and Prescott is concerned, it is vital that it is determined immediately in order to ensure the entire organization runs smoothly. First, Higgins and Prescott should forge a mutual understanding fast. Higgins must not forget that he represents the American parent company, and not his attachment to the people and culture of Japan. Prescott, on the other hand, needs to understand that all employees need to work in a happy environment rather than being made to work for a rigid autocratic structure. To achieve this, Prescott needs to manage change at Weaver, as well as mange the conflict arising from these changes. Both Higgins and Prescott need to be more effective in their various management abilities. The following section puts,

Explain the structure and operation of TNCs in the Food Industry Essay

Explain the structure and operation of TNCs in the Food Industry - Essay Example The present study would analyse the structure and operations of the Transnational Corporations in the food industry. According to the United Nations Economic and Social Council a Transnational Corporation is defined as an â€Å"enterprises which control assets – factories, mines, sales offices and the like in two or more nations across the globe (Jenkins, p.1). The global food industry comprises farming, production, distribution and retail sectors. The industry is expected to grow at 3.5 percent growth on a compounded basis and is expected to be valued at approximately 7 Trillion US dollars by 2014. Traditionally, Europe has the largest share in this mammoth industry segment but presently Asian giants like India and China are also emerging as potential markets in the food industry (IMAP, 2010, p.4). The figure below represents the composition of the food industry and the percentage of individuals employed by each of the units. It is very clear from the figure that non-residential catering industry employs the highest number of individuals followed by retailing industry. There are two types of value chains that are prevalent in the industry, namely the producer driven value chain and the buyer driven value chain. Producer driven value chains are employed by large multinationals including transnational companies and the product manufacturers who assume leadership and play a major role in coordinating with other market players. On the contrary, buyer driven chains are characterised by the presence of large market players who play the most influential role in managing different decentralised units (United Nations Industrial Development Organization, 2009, p.3). Producers in the food industry constitute of farmers, fishermen etc who use natural resources. The product in this stage is said to be in the input stage where raw materials are used to make the finished product (Kannan, Sivakumar & Gilani, 2010). Transformers

Teamwork and Motivation Essay Example | Topics and Well Written Essays - 500 words - 1

Teamwork and Motivation - Essay Example There are the principles that if stressed upon properly would build activities to strengthen health care organization. First of all teams need to work on common grounds and interest which should only be mutual interest of patient and improve facilities for him. An important aspect of success of a good team is the provision and implementation of various team building activities. Keeping in mind the demands of a health care setting, one major activity that can help strengthen the teamwork and quality of care delivery is to organize meetings. Every health care team should meet on regular basis to discuss and manage the aim of that delegation that is to work for providing the highest levels of quality care to the patient. Moving on, considering the successful outcome of such meetings and gatherings, all the pros and cons should be considered. There need to be certain objectives that should be achieved at the end of session and the leadership should not only maintain a strong relationship among working individuals but also resolve all the conflicts in working environment. In a health care setting, time is crucial and so is efficiency because the aim is saving the life or quality of life of an individual. There is absolutely no place for negligence and for this matter all the aspects of a successful teamwork should be focused upon such meetings. Probably the most important of all plans would be a strong and effective communication and sharing of professional knowledge among different disciplines. This would not only enable others to understand the problem in a better way but would also brush up person skills of any professional (WHO Patient Safety Curriculum 2008). Only in this way can meetings of health care team members can bear fruit. Different techniques have been used to improve these skills and to develop better communication and interpersonal relationship among team members. Various techniques have been used and explained by Team STEPPS

Discussion forum Essay Example | Topics and Well Written Essays - 250 words - 1

Discussion forum - Essay Example On the other hand, the car saves an individual from using public transport and effectively protecting them in the cold weather. Other than convenience, the car owner learns to become more responsible while maintaining the car, which subsequently extends to their personal life. I admire the attachment you have to your dog. Indeed, explaining the process under which you acquired her, saving all your earnings as a child, which is a mean feat, explains the bond that started when you saved the first coin or note. The responsibility you have for the dog further explains the strong bond. As a result, you have grown fond of her and she is fond of you too. This emphasizes a feeling of security in each other. You are secure she has got you, and she on the other hand is secure to have you. On the other hand, your family’s love and adoration of her makes her become and feel as part of the family. Such an attachment started in your childhood lives with us forever. It is also significant that, you have been with Candy in some important phases of your life. Hence, the powerful attachment you both have on each

Merits and Demerits of Bariatric Surgery in the Treatment of Type 2 Literature review

Merits and Demerits of Bariatric Surgery in the Treatment of Type 2 Diabetes Mellitus in Overweight and Obese Adults - Literature review Example Bariatric operations are basically grouped into totally restrictive, mostly restrictive, and mostly malabsorptive procedures (Ferrannini and Mingrone, 2009, p. 516) but the most common surgery performed is Roux-en-Y gastric bypass through which â€Å"between 33 and 77% of excess weight can be lost† (Buchwald et al., 2004, p. 1730). General consensus among clinicians is that the bariatric operations have proved to be particularly appreciative medical treatment for diabetes associated with obesity and cardiovascular diseases. Also research has it that all these surgical options are potentially capable of helping the diabetic patients in terms of fast recovery, weight adjustment, cardiovascular risk factors management, and significant reduction in mortality of 23% from a troubling 40% (Robinson, 2009, p. 521). Evidence about the role, credibility, and shortcomings of bariatric surgery as a thriving treatment option for type 2 DM is gathered through reviewing credible scientific j ournals and findings are discussed and scrutinized in this paper as an attempt to compare and contrast what different researchers have said on this subject so far. Literature Review For people having a BMI of at least 35 with significant comorbidities like diabetes, bariatric surgery is ruled out as a safe and healthy recommendation by the health care professionals as this is considered a wise decision with great payoffs (Robinson, 2009, p. 520). In a research study involving as many as 232 obese patients with type 2 DM from 1979 to 1994, it is claimed by MacDonald et al. (1997) that 154 out of them underwent gastric bypass operation and had their small intestines resected while the rest did not... Surgery is repeatedly claimed to be an effective early intervention for diabetes by different researchers. Much research has been done on the subject of effectiveness of bariatric surgery in weight loss and diabetes-related outcomes in the obese adults. Weight reduction is the first most strategy which should be considered by the diabetic patients as the progression rate of diabetes heavily relates to the obesity rate. A reduction in all-cause mortality is stressed in the literature on bariatric surgery and its implications because the surgical interventions largely aim at decreasing the weight as obesity in itself is a potential driver of many cardiovascular and metabolic dysfunctions. The charm of bariatric surgical interventions like gastric bypass surgery is that they are performed to achieve multiple targets and may or may not include weight loss depending on the situation. This means that diabetic patients of think physique can also go through bariatric surgery to have their di abetes treated only. However different sources cite that complications resulting from weight loss surgery vary and are frequent including nutritional deficiencies, kidney issues, bone fracture risks, postprandial diarrhea, and other metabolic bones diseases. Among the postsurgical complications, gastric dumping syndrome which involves bloating and diarrhea after meals forms the commonest complication of bariatric surgery performed to treat type 2 DM in overweight or obese adult patients.

Marketing plan Research Paper Example | Topics and Well Written Essays - 1000 words

Marketing plan - Research Paper Example The UK has one of the most stable political environments. The political leaders have ensured that politics does not affect the performance of the business in the market as this aspect would lead to loss of job opportunities for the locals. This can be ascertained by the latest election which was concluded days ago. Despite heightened political activities in the country, business operations were running normally (Paley, 2007). In addition, political steered clear of any issues that might destabilize the business environment. As a result, the country provides a serene environment for Americana. The UK population has an adventurous culture. Therefore, they like to taste other people’s culture. In addition, they appreciate other people ways of doing things and diet. However, they like to be associated with products and services that are produced locally. This aspect will be significant because Halal will meet the interests of the target market. In addition, this will create an opportunity for the local population to taste Muslim delicacies. This will attract more non-Muslim customers towards the product, some of which will end up becoming loyal to the products (Malhotra & Sciglimpaglia, 2009). UK has a stable economy. Although the country was affected by the financial crisis in 2008, it has been able to recover slowly. Initially, people were more reserved with their spending. However, this has changed over the years. People are now spending on their food of choice. The pound remains strong and stable. In addition, the interest rates in the country remain low in comparison with the neighboring countries. Therefore, in case the business will decide to expand its operations in other European countries using UK as its main base, it will be able to enjoy favorable exchange rates (Shankar & Carpenter 2012). This will be significant in enabling the business to penetrate and segment other markets. The largest market

Discussion board one Coursework Example | Topics and Well Written Essays - 500 words

Discussion board one - Coursework Example For majority of the patients visiting my nursing unit, I have offered quality health care and for those with specialized needs I have offered referrals. This ability to work within my knowledge scope and to offer appropriate referrals have contributed to high autonomy which has resulted to informed decision making when combined with patient trends and cues. Besides autonomy, my exercise of power over the context of practice has seen me yield high quality patient outcomes. My work is in a well equipped nursing unit which is delegated to the duty of ensuring that there are nurses closely working with the patient at all time especially given that the patients are expected to acquire a changed way of life. Additionally, the nursing unit is designed such that each nurse has equal opportunity to contribute or participate in informed decision making especially when it comes to patient needs. I believe that by possessing the power to participate in patient related decision, whether at their bedside or within the nursing unit, I get empowered and empower others which then yield overall improved patient and nursing outcomes. As a nurse, the good health of patients is something I always look forward to achieving. According to Amer (2013) when nurses, especially in rehabilitation units, manages to effectively control both content and context of th eir practice, the result is high quality patient outcomes and job satisfaction for the nurses eliminating burnout and depersonalization. Within the rehabilitation unit, there are rewards for brilliant ideas on handling and relating to patients. However, the people in management opt to wait to reward in future other than go for rewards in the present (Sullivan, 2013). On one such occasion, I managed to contain a difficult patient and every nurse in the unit got excited about the patient’s outcome in a week. I was not rewarded as the unit management remained quiet. However, during the next progress meeting held once a month

The Post Office and Tesco Essay Example for Free

The Post Office and Tesco Essay For this task I have been asked to describe the type of business purposes and ownership of two contrasting business, the two businesses I have chosen are The Post office and Tesco, I will be contrasting these two businesses in this report. The post office was established in England in 1660 by Charles II, it has been running ever since and is known world wide and is used every day of the week, The post office is in charge of mail and deliveries that have been paid for by customers and they will post them to the place listed on the item, the post office will then dispatch the item to the receivers location through planes/vans to postmen to the receiver, sometimes you have to sign for the product which helps customers with things like insurance of the item. The Post office is a government owned business as it is paid for using the tax payer’s money which means the government takes care off expenses of the business and they will also have to deal with any problems that are going on the will also take the profits that the business makes, the post offices operates nationally as the postal service operates only in the country and post is sent every day, The post office falls under the tertiary sector because they sell a service for e.g. they sell people mail deliver as they deliver they mail for money, The post office supply a postal service in which they post/deliver your letters so they can make profit, the post office supplies its services to customers by allowing them to use post boxes to post their letters, but the letter must have a stamp that has to be bought at a post office, for larger items like packages you will have to take them to the post office and get them sent from there, the post office exists to offer a postal service to the public so they can deliver your packages/letters to other destinations the post office also charge money to send letters using them, they also exist to make profit for the government, it was first open in 1660 as a way to deliver letters/notes from city to city but has developed in the years which has made it more complex. The post office supplies services to the public by charging them to deliver their letters at a fee, you will have to go to a shop and purchase a stamp which can be used to send letters, also for larger letters or packages you will have to visit the post office and they will take care of the package for you and also will charge you depending on the weight off the package/letter, The Post office business operates nationally, The Post Office is needed for the country’s postal service to run, if this business was to close down many people would loose their jobs and also the country’s postal service would collapse and the mail would be unorganized, as this is a government owned business the government will try anything to keep this service/business running because it could cause the country’s postal service to collapse. The first Tesco was opened in 1919 by a man called; Jack Cohen from that 1 store Tesco has grown in the market and now has 923 stores worldwide, (Sentence from wikipedia) Tesco is a supermarket that sells all kinds of household items such as food, clothes range, Technology range, phone range furniture, toys and many more, Tesco has many different stores which make a lot of money every year. Tesco falls under the tertiary sector as they are a supermarket who sells products made by other companies to the public/customers who use their services, Tesco buys a lot of stock from other companies such as Wholesales and sells them off a profit, Tesco is a Public limited company (PLC)which means that it is a business that has over  £50,000 the business isn’t owned by one person, it is owned by different shareholders who all share decisions made in the business, and also share the profits and the responsibilities of the business. Tesco has stores all around the world which means it is a Global business It has many stores in places like Korea, Poland, Taiwan and Thailand and over 923 stores worldwide, Tesco sell household goods such as foods, clothes and even furniture they sell these products so that they can make a decent profit at the end of the year, Tesco exists to make money, they make there money by selling stuff at suitable prices which customers can afford so it is easier to shop with them and so they can also make more money, Tesco was opened in 1919 as one store which has transformed into a Globally known business. They operate in different parts of the world but mostly in the U.K. Tesco supplies its services/products to customers by allowing them to come in store and buy the products that they need and when they are done they will go to a checkout to pay for them, Tesco exists to offer goods at reliable prices, for the public to buy, Tesco is well known for cheap products at suitable prices that people can afford, it has also uses advertising and is on price comparisons sites to show how cheap they are. If Tesco was to close down a lot of people would loose their jobs, but it wouldn’t affect customers as much as if the post office closed down, because there are many other supermarkets which the customers could change to, there are other supermarkets like, Asda, Morrison’s, Sainsbury’s and many others we’re people could shop instead of Tesco so it wouldn’t affect the government/customers that much.

Is Apple Entry Into The Mobile Telephone Sector Marketing Essay

Is Apple Entry Into The Mobile Telephone Sector Marketing Essay According to Michael Porter (1979), industry is being influenced by five forces. The strategic business manager planning to develop an advantage over rival firms can use this model to better understand the industry plans in which the firm operates. Since iPhone is only offered by single networks such as O2 in UK and ATT in US, customers of other networks will have to wait until their contract expires, or pay an early cancellation fee (typically $200). The average duration of a cell phone contract is 2 years, which means that 25% of consumers plans will expire in the next 6 months. Since a $200 switching fee makes the iPhone very expensive. Apple introduced the device at high price for early adopters to earn abnormal profits and it slashed down iPhone price by 50% for rest of market segment. For Reference, In US When it reduce the price from $599.99 to $399.99 consumer were force to deal with the mobile carrier AT T mobility, in service package ranging from $59.99 to 99.99 per month. But in UK, low amount of inclusive minutes was not competitive. For reference, O2s iPhone deal allowed 200 inclusive minutes for pound 35 versus competitors that offers of 750 minutes in addition to a free phone. Apple reduces its prices or introduces new models for price-sensitive consumers, and its sales could expand considerably. Barriers to Entry/ Threat of New Entrants Ultimately the iPhone is going to face the most competition from imitators who can sell a similar or comparable device at a lower price. Most of these threats are going to come from established players in the cell phone industry (such as LG and Samsung) rather than companies trying to enter the cell phone market. Software companies such as Google and Microsoft may pose a credible threat at entering the cell phone market. Apple not only had to face a number of barriers to entry in the development of the iPhone but they must also worry about potential competitors (Google, Microsoft) overcoming them as well. Economies of Scale Apple already had pre-existing experience in manufacturing mass-market consumer electronics devices, many of which share components of the iPhone; so Apple was not adversely affected by this barrier. New entrants, however, may not have that luxury and the cell phone market is almost defined by its mass-market (which requires mass production and consumption) nature. Product Differentiation The iPhone is significantly different than its competitors product. Apple also has a certain amount of protection through the strength of its brand identity. iPhone launch was extremely different technology from other mobile companies. But to keep product differentiation consistent in long run would be challenge for Apple. Capital Requirements Apple enjoys a slight advantage here, though its an advantage that may be quickly lost. The other cell phone manufacturers have a lot of experience making cell phones, but not necessarily software. So, to most effectively compete with the iPhone they will need to invest significantly in certain areas. And Apple also has a lot of experience making hardware and software, which gives them an advantage to some extent over their competitors. In this sense, Apple itself did not face much problem with this barrier because of their experience creating both software and hardware. Future competitors looking to enter the cell phone market are less likely to have that advantage. Distribution Channels The iPhone will be only available at Apple and single network stores and it is only supported by the Single network such as o2 in UK. They are not able to sell iPhone in cell phone market and also they are making it difficult for people to even purchase the phone. A future entrant into the market may be able to make their product available for multiple carriers and multiple retailers. For instance, iPhone was available through 1300 Apple, O2 and Carphone warehouses shops in UK. Supplier Power The iPhone software that brings all features together and allows the user to interact with the phone in a compelling way. And Apple, of course, developed and owns the software. A producing industry requires raw materials labour, components, and other supplies. This requirement leads to buyer-supplier relationships between the industry and the firms that provide it the raw materials used to create products. Suppliers, if powerful, can exert an influence on the producing industry, such as selling raw materials at a high price to capture some of the industrys profits. But in case of Apple, The Software, Hardware, component is developed and owned by Apple itself. Hence, they have less threat from powerful suppliers. Buyer Power Here you ask yourself how easy it is for buyers to drive prices down. Again, this is driven by the number of buyers, the importance of each individual buyer to your business, the cost to them of switching from your products and services to those of someone else, and so on. Although the iPhones functionality would be attractive to business users, its price is considerably higher than that of Blackberries .This makes enterprise purchases unlikely, since businesses are typically price sensitive. However, the iPhones compelling mix of features makes it attractive to a broad set of cell-phone consumers. The iPhones market is limited by two factors: 1) the high price ($499 for 4 GB) and 2) Apples exclusive US carrier agreement with Cingular (For example AT T, O2).In case of Apple the buyers of the iPhone are somewhat more powerful. Given the relatively high price of the iPhone it remains to be seen whether consumers will pay a high price for Apple iPhone features when their needs may be equally met by cheaper alternatives. Threat of Substitutes A threat from substitutes exists if there are alternative products with lower prices of better performance parameters for the same purpose. The iPhone mainly distinguishes itself from competitors over its softwares and hardwares which are driven by a multi-touch screen. Apple claims various patents relating to this technology. However, it is still likely that other players in the market will soon be able to deliver similar products. Synaptics and LG have already disclosed details of coming products which feature touch-screen interfaces, as well. Software companies such as Google and Microsoft may pose a credible threat at entering the cell phone market. Evaluation Being aware of huge competition in mobile phone market, I decided to use porters five forces model to do analysis and based on analysis, I found that there is tough competition for mobile operators who act as both substitutes and new entrant. In the next 3-5 year if we see the industry would be more competitive than today. So many firms will be competing in the market and new firms will be try to come in the market for taking the advantage of profitability, which would reduce the profit of the firms. Consumer will have more choice because of substitution, and they can force the companies to reduce the prices of their product. And the supplier will have the power to raise the price of the raw material because of the high demand on the same time. Word Count: 1,109 words

Validity of Animacy as a Mnemonic Dimension

Validity of Animacy as a Mnemonic Dimension Lomasi Fogarty   Abstract The objective of this report was to agree or disagree with the theory that animacy is an important mnemonic dimension. It was hypothesised that this was the case and animacy helps people with recall. First year students of 1001PSY Introduction to Cognitive and Biological Psychology, participated in an experiment where they were to remember words that appeared on a PowerPoint. A distraction task was applied to control for maintenance rehearsal and recency effect. The results from the experiment showed that animate words were more correctly recalled than inanimate words. It can be concluded that the hypothesis was supported and animacy is a mnemonic device as it is an aid for memory. The Validity of Animacy as a Mnemonic Dimension The purpose of this report is to validate whether animacy is an important dimension in regards to memory and mnemonics. Memory is the process of which information is acquired and modified so that knowledge can be stored, retrieved and used (Foster Wilson, 2005). The memory process starts with encoding the information, followed by storage, and retrieval. Encoding involves the information getting into the memory, and forming a memory code. Storage is where the information is kept in the memory, and retrieval is the process of accessing the stored information at a later time. This occurs in between short-term memory (STM), and long-term memory (LTM). The serial position effect is the idea that the position in a list to be remembered, can have an effect on the correct recall. The usual pattern for this is that the first few items (primacy), and the last few items (recency), on the list, are better remembered than the stimuli located in the middle. The primacy effect has emerged due to the first few items being successfully transferred to stable, long-term memory, whereas the recency effect is a result of the stimuli functioning in short-term memory (Wiswede, Russeler, Munte, 2007). The term mnemonics is used to describe a variety of aids for memory that can result in an improvement in the retention and learning of information. The basic principles within this technique are recoding, meaningfulness, and organisation (Dickel, 1983). Animacy is acknowledged to be a foundational dimension for mnemonics, and plays a helpful role in regards to memory. Animacy is the concept best defined as living organisms. According to Nairne, VanArsdall, Pandeirada, Cogdill, and LeBreton (2013), for successful reproduction and survival of the human race, it is essential to distinguish between animate and inanimate things. Evolutionary psychologists would think it fit to suggest that selectively tuning and remembering animate things is an essential process done by the memory system as predators, as well potential mating partners, are animate beings and aid with the continuation of human existence. Little attention has been brought to mnemonic dimensions when studying memory. As Nairne et al. (2013) state, â€Å"the focus tends to be exclusively on the ‘how’ of remembering†. The recognition of the origins of cognitive systems can create a basis for the discovery of empirical phenomena. It is theorised that animate words are more likely to be recalled than inanimate words, and therefore is an important dimension for memory. This report aims to support or disagree with the idea that animacy is a mnemonic dimension. It was hypothesised that more of the animate words in this experiment were correctly recalled than the inanimate words. Method Participants In the 1001PSY Introduction to Cognitive and Biological Psychology tutorials, 386 (279 female) first year undergraduate psychology students at Griffith University participated in this experiment (Age Range= 16-55 years old; Mage= 19.79, SD= 5.39). Participation was encouraged however there was no incentive. Design This experiment was a within-subject design as everyone was tested on animacy. In this experiment, the one independent variable was the words that were to be remembered. This variable had two levels, animate and inanimate. The only dependant variable was memory; how many words of each level of the independent variable could be remembered by each participant. The serial position effect was acknowledged and controlled but was not measured. Materials There were two types of stimuli presented in this experiment. The main experiment was presented on a white PowerPoint slide with 24 words (12 animate and 12 inanimate) and were on a slide each. 2 buffer words were also used at the beginning and the end of the slides but were not identifiable from the other words by the appearance. The words were in black, Calibri (Headings) in size 115 font in the middle of the slide. Every 5 seconds the slides would change and a new word would appear. The exact words used are presented in Table 2 (Appendix A). The participants were supplied with a scoring sheet to tick off what words they remembered (Refer to Appendix B). The second stimuli was the distractor experiment, which consisted of a similar presentation. 20 varying numbers (11 odd, 9 even), were presented on a PowerPoint with white slides. The numbers were on the middle of a slide each, in the same font but size 166. The numbers used in the distractor experiment are presented in Table 3 (Refer to Appendix C). The digits were presented on a slide each; one at a time for three seconds. Procedure The instructions were given by the experimenter, which in this case, is the tutor of the class. Once all the participants were all seated at a table, they were asked avoid any sort of implement to help record the words, and were asked to remember as many words that appeared as they could. The PowerPoint and the tutor notified the students when the words were going to appear. Once the last word was reached, the tutor as well as the PowerPoint notified the students that it was the end. The distraction task began after the last word appeared. This task had a designated time for 1 minute and began with a slide of the PowerPoint that included instructions that were also read out by the tutor. The participants were required to indicate whether the numbers changing on the board were odd or even on a supplied response sheet (Refer to Appendix D). Results for this task were then checked. At the end of this instruction, the response sheet for recalling the words was supplied. It was asked of the students to write down as many words of the first task as they could with a time allowance of 4 minutes. To check what words they remembered, they were given a scoring sheet in which they could tick off the words they correctly recalled. Once the 4 minutes were over, the students compared their recalled words with a scoring sheet (Refer to Appendix B). The number of correctly recalled ‘animate’ and ‘inanimate’ words, were added and the total for each was written down. Additional information like their age and ge nder was also collected. Only the scoring sheets for the word recalling task were handed up to the tutor. Results The amount of which each word was recalled is presented in Table 2 (Appendix A). The total number of words correctly recalled for both animate and inanimate categories are in Table 1. The raw data in both these tables shows that in this experiment, more of the animate words were remembered than the inanimate words. It was also noted in Table 1, that in regards to the serial position effect, the first 6 words, were more remembered than the last 6, and the last 6 were more remembered than the middle 12. This table also shows that the animate words were more remembered in each serial position class except the first 6, where the inanimate words were remembered 19.4 more times than the animate. The serial position effect is evident in Figure 1, where more words were correctly recalled in the first and last 6 for both animate and inanimate words. Table 1 Total No. of Words Recalled. Figure 1. No. of words recalled for each serial position class. Discussion This experiment has supported the theory that animacy is a mnemonic dimension as more animate words were more correctly recalled than inanimate words. In this study, the aim was to find whether animacy was a mnemonic in which it is easier to remember than inanimate words. The prediction that animate words are more remembered than inanimate words came from the evolutionary perspective where humans remember animate stimuli over inanimate stimuli because it was helpful for survival and reproduction. This experiment showed that animate words were more correctly recalled than inanimate words. The theoretical basis of this prediction was from work done by Nairne et al. (2013), in which they stated that animate words would be more easily recalled due to the fact that they helped humans survive and reproduce. Although buffer words were used to control the primacy and recency effect, the results still show that the first and last few words were more remembered than those that appeared in the middle of the list. Likewise with the distractor task, it was put into place to control maintenance rehearsal but the results still show that the last few words were more remembered than the words in the middle. This however may be explained with the last few words easily being stored in the short-term memory (Wiswede, et al. 2007). A methodological concern with this experiment could be that the tutors were different throughout the classes and may have altered the instructions, this could include longer time on a word. Along with this, another concern could be that the participants could have written down words that they didn’t actually remember. These could have compromised the eternal validity affect the end result in measuring animacy as a mnemonic device. From this information, further research can be done to find if there are differences in memory within social demographics and improve knowledge on mnemonics. References Dickel, M. J. (1983). Principles of encoding mnemonics. Perceptual and Motor Skills, 57(1), 111-118. doi: 10.2466/pms.1983.57.1.111 Foster, J. K., Wilson, A. C. (2005). A refined model of sleep and the time course of memory formation. Behavioural and Brain Sciences, 28(1), 71-72. doi: 10.1017/S0140525X05290027 Nairne, J. S., VanArsdall, J. E., Pandeirada, J. N. S., Cogdill, M., LeBreton, J. M. (2013). Adaptive memory: The mnemonic value of animacy. Psychological Science, 24(10), 2099-2105. doi: 10.1177/0956797613480803 Wiswede, D., Russeler, J., Munte, T. F. (2007). Serial position effects in free memory recall—An ERP-study. Biological Psychology, 75(2), 185-193. doi: doi:10.1016/j.biopsycho.2007.02.002 Appendix A Table 2 List of word type and presentation order Appendix B SCORING SHEET 1001PSY Mt Gravatt Memory of animate vs inanimate words experiment worksheet Scoring Sheet Age:_____________ Gender:____________ Appendix C Table 3 List of Numbers from Distraction Task Appendix D ODD EVEN RESPONSE SHEET 1001PSY Mt Gravatt 1001PSY MG Introduction to Cognitive and Biological Psychology Odd-Even Task Worksheet Please tick (à ¯Ã†â€™Ã‚ ¼) whether the displayed number is either odd of even

Sylvia Plath :: essays research papers fc

The Many Views of Sylvia Plath   Ã‚  Ã‚  Ã‚  Ã‚  Pulitzer Prize winner, Sylvia Plath began her misunderstood life on October 27, 1932, in Jamacia Plains Massachusetts. She was born to Otto and Aurelia Plath, who were both teachers (Sylvia Plath).Her father was a professor at Boston University. He studied bees.(Personal Influences) Plath has been seen in a variety of ways; as a tragic poet, the all-American, girl next-door, but, most of all, a heroine of the feminist movement.   Ã‚  Ã‚  Ã‚  Ã‚  Plath’s life was haunted by visions of her past. Her father died when she was eight from neglected diabetes, after the amputation of a toe, and eventually and entire leg (Personal Influences). â€Å"Otto Plath was diabetic, yet chose to ignore doctor's warnings about certain prohibited foods. He projected an arrogant self-confidence as if nothing could defeat him. It was this same arrogance that caused his death.† (Personal Influences). Plath never fully recovered from her father’s untimely passing (Personal Influences). She felt betrayed, and was consumed by her own guilt. She felt that if he loved her more, he would have taken better care of himself. Otto Plath is a recurring theme in her works. Her poem ,Daddy, expresses her resentment and bitterness toward being deserted by him (Personal Influences).   Ã‚  Ã‚  Ã‚  Ã‚  After receiving straight A’s throughout high school, Plath attended Smith University. In the summer of 1953, she received the opportunity to go to New York and intern with Mademoiselle. While in New York, Plath suffered an emotional breakdown. She plunged into a deep depression (Sylvia Plath). When she returned home to Boston, where she was living with her mother (whom she hated), she took a handful of sleeping pills, and attempted to end her life (Sylvia Plath). After this, she was sent to McLean Hospital, to be treated for mental illness (Sylvia Plath).   Ã‚  Ã‚  Ã‚  Ã‚  Upon her release from the hospital, she returned to Smith, and then to Cambridge, England to study at Newnham College. (Sylvia Plath) Here she met, fell in love with, and, after four months, married the future Poet Laureate of England, Ted Hughes (Gray). The two were together for six years, and produced two children together, Frieda in 1960 and Nicholas in 1962, (Sylvia Plath). However, Hughes left Plath for Assia Wevil in the winter of 1962 (Sylvia Plath). Desperate and alone, Plath sealed off the doors to her children’s rooms on February 11, 1963, placed her head in a gas oven, and died (Sylvia Plath). Ironically, Assia Welvill eventually killed herself in the same exact way as Plath (Kirjasto).   Ã‚  Ã‚  Ã‚  Ã‚  Hughes felt that he was powerless to help Plath. He believed that she was destined to kill herself because of her fixation with her father (Gray). â€Å"What happens in the heart simply happens,† Hughes said

Abortion - Denying the Undeniable Essay -- Argumentative Persuasive To

Denying the Undeniable      Ã‚   Grief after induced abortion is often more profound and delayed than grief after other perinatal losses. Grief after elective abortion is uniquely poignant because it is largely hidden. The post-abortion woman's grief is not acknowledged by society because the reality of her child's death is not acknowledged. In order to gain her consent for the abortion she has been told that the procedure will remove a "blob of tissue" a "product of conception", or a "pre-embryo." She has been assured that her "problem will be solved" and that she will be able to "get on with her life" as though nothing significant had happened. Yet the pregnant woman knows by the changes in her body that something very significant is happening to her: her menses have stopped, her breasts are enlarging, she is sick in the morning (or all day long), and she knows that the process which has begun in her will most likely result in the birth of a baby in nine months time if allowed to run its course. She is aware of the expected date of delivery and she has often thought of a name for her baby as she has begun to picture the child as he or she would be at birth (Bonding begins very early in pregnancy.). All of these feelings and fantasies about her pregnancy must be denied in order to undergo an elective abortion. The pregnant woman is asked to deny the fact that she is carrying a child at all!    Theresa Bonopartis relates her true story in her book, Divine Mercy In My Soul:    I could feel the baby thrashing around as his skin and lungs were burned by the saline. He was dying. Labor began. After twelve hours of labor, alone in the room, I gave birth to a dead baby boy. I looked at his tiny feet and hands. All... ...hat they have committed 'the unforgivable sin' and fear God's anger.    Women who have had an abortion often have many questions, the answers to which are indispensable to beginning the healing journey. Can God ever forgive me? Can my child? Can I ever forgive myself? Will the Church let me stay when I confess this sin? Will this horrible pain ever go away? Is healing possible? The answer to all these questions is, of course, YES!    WORKS CITED    "Aftermath." http://www.hopeafterabortion.com/hope.cfm?sel=A31Q    Bishops, US Catholic. "Bishops' Official Notes Coverage of Post-Abortion Program." http://www.nccbuscc.org/comm/archives/00-084.htm    Bonopartis, Theresa. Divine Mercy In MY Soul. http://www.hopeafterabortion.org/hope.cfm?sel=C18L    "Stories of Healing." http://www.hopeafterabortion.com/hope.cfm?sel=JHY7

Girls Of Slender Means :: essays research papers

Joanna’s and Jane’s lifestyles.   Ã‚  Ã‚  Ã‚  Ã‚  The Girls of Slender Means by Murial Spark is a novel about the girls who lived in the May of Teck Club during the year of 1945. There are many characters involved, but the one’s who caught my attention the most are Jane Wright and Joanna Childe. They represent different aspects of ideas, lifestyles and, also, have different perspectives on the “World of Books.';  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Joanna Childe was the daughter of a country rector. She was very intelligent, had “...strong obscure emotions'; (8), and “...religious strength'; (165). She was very well build. “Joanna Childe was large...'; (9), “... fair and healthy-looking...'; (22). She had light shiny hair, blue eyes and deep-pink cheeks. She never used a scrap of make-up because she didn’t really care about her looks and she wasn’t looking for a husband either.   Ã‚  Ã‚  Ã‚  Ã‚  Jane Wright, on the other hand, was very fat and felt miserable about it. She tried to blame her work for her appetite. “...[she] was miserable about her fatness and spent much of her time in eager dread of the next meal, and in making resolutions what to eat of it and what to leave, and in making counter-resolutions in view of the fact that her work at the publisher’s was essentially mental, which meant that her brain had to be fed more than most people’s'; (35-36). Unlike Joanna, Jane “...was on the look-out for a husband,...'; (32) since she was only twenty two years old.   Ã‚  Ã‚  Ã‚  Ã‚  Joanna’s and Jane’s occupations evolved around the world of books. However, they had different perspectives about it. Jane worked for a publisher and Joanna attended a school of drama to be a teacher of elocution. Jane thought of the publishing business as “...essentially disinterest[ing]'; (39), while Joanna chose her profession because of her love for poetry. “...poetry, especially the declamatory sort, excited her and possessed her; she would pounce on the stuff, play with it quivering in her mind, and when she had got it by heart, she spoke it forth with devouring relish'; (8). Joanna was highly thought of for it and Jane “...was considered to be brainy but somewhat below standard, socially, at the May of Teck'; (19).   Ã‚  Ã‚  Ã‚  Ã‚  Both women were similar in that they did additional work besides the one’s mentioned above. Joanna had students of her own whom she taught how to speak properly, with no accent. “Joanna’s method was to read each stanza herself first and make her pupil repeat it.'; (21). Jane had several kinds of “...brain-work'; (41). “First and secretly, she wrote poetry of a strictly non-rational order, in which occurred, in about proportion of cherries in a cherry-cake, certain words that she described as ‘of a smouldering

Kfc in China Essay

Is Tony Wang correct in assuming that China is an ideal market for KFC? Should KFC be pursuing the Chinese market at the present time? Considering China as a strategic location was based from a SWOT analysis. Availability of Supply (Strength) There is ready access of quality poultry in the major metropolitan areas such as Shanghai, Guangzhou and Beijing. Poultry industry is one of the top priority categories in China’s agriculture modernization and it is highly encourage by the government. Thus, the company can ensure a reliable supply of high quality chicken. Low Competitive Pressure (Strength) Potential competitors such as MacDonald’s face major barriers to enter the China market due to poor beef supply while KFC, aside from availability of high quality chicken supply, has the clear advantage since its main product-chicken- is eaten almost everywhere in the world. Furthermore, chicken is already familiar in China and even much cheaper. Company’s Control Measures (Strength) KFC s control mechanisms are designed to ensure standard levels of quality, service and cleanliness (QSC) at all of the restaurant’s chain stores. This fits the positive image in Asia of American fast food restaurants as famous, air-conditioned, and hygienic. Product Consumption (Strength) Chicken has long been regarded as a kind of nutritious food, which is especially good for the patients, the elders and children. An increase in health conscious consumers also raises the consumption of chicken. Moreover, chicken is a more popular meal than hamburgers in most Asian countries and KFC has the opportunity to offer an American style experience that is different from most other food establishments. Drawing Area (Opportunity) In late 1978, China began implementing economic reforms to modernize its economy by lessening the government’s control of the economy. This reform referred as a socialist market economy boosted the national wealth and the consequent increase in individual’s income has led to steady changes in Chinese consumer patterns prevalent in pre-Mao era. As the world’s most populous nation with over 1 billion inhabitants, the potential size and growth for KFC makes the Chinese market very attractive. Not to mention, the possibility of establishing the first Western style fast-food operation in China as a historic opportunity for the company. Scarce Human Resources (Weakness) Managerial resources are precious because of the scarcity of Chinese-speaking KFC managers. There are also possible conflicts between KFC-appointed managers and local employees. Lack of Local connections (Weakness) Pioneering in the fast-food field would find KFC very difficult to form local and personal networks between businesses and government agencies, which are crucial in providing access to the local market and domestic suppliers and eventually, to the company’s success. Entering into a relatively unknown market, KFC, as a new entrant will have to get in touch with the local business customs and laws as well as with knowledge of culture and language. Quality of Government (Threat) A communist government with strict foreign investment laws rules China. Setting up here requires heavy investment expenses and high levels of resource commitment. The risk of domestication measures may be imposed by the host government, often leading to major financial losses for the foreign investor. Overcoming Threats and Weaknesses KFC has three options of entering the China market thru, namely: Franchising, Wholly owned subsidiary and Joint venture. The traditional franchising strategy, in markets where political risk and cultural unfamiliarity exists, certainly would reduce financial risks. However, KFC had already encountered problems in the past with the aligning of corporate planning with the franchisee’s short-term focus on profitability. In addition, KFC will be pioneering in the fast-food service and thus needs to be highly sensitive to cultural demands. In such case, franchising is not feasible. On the other hand, a wholly owned subsidiary would rely upon total control over competitive advantages and ensures complete operational and strategic control. It also involves high financial risk and little country-level flexibility and responsiveness. This option is not recommended. Entering into a joint venture is highly recommended. Such an international business strategy will attempt to solve many logistics problems such as access to good quality chicken and other supplies, ease the access to Chinese market, share risk with a local entity, utilize ways to cut bureaucratic red-tape and finally, serve as a sign of commitment to the host government increasing goodwill. In addition, due to the complexity of many barriers to entry into China, a potential partner with sufficient contacts or networks with the government officials may smoothen the process of setting-up operations in the country. The potential joint-venture partner should be large, well established, provide excellent distribution channels and have personal network access to government officials. It is recommended that a partner be found by backward integration- that is, a good domestic supplier of poultry. In order to ensure total commitment, the set-up of the joint venture should be with KFC as the dominant partner. This way, cost, quality and strategic control measures are maintained. By building on each partner’s core competencies, knowledge, and efficiencies, a mutually beneficial synergy effect could be achieved as a result of joint venture activities. For instance, the local partner can learn from KFC how to produce a better product at a lower cost and further expand on its new competitive positioning. KFC, on the other hand, can maintain quality supply, which is critical to its success. RECOMMENDATION: The Chinese market represents a great opportunity for KFC where Tony Wang is correct in his assumptions. By finding an appropriate domestic business partner via backward integration, it is possible to further build on opportunities and significantly reduce risk throughout financial sharing, cultural sensitivity and favorable treatment from the host government. KFC should start pursuing this strategy at the present time and develop a coherent international strategy linking the China operations with the other markets. Which of the three cities being investigated should the company choose if it decides to enter China? The capital city, Beijing, is recommended as the preferred location for KFC’s entry into the Chinese market. Beijing is the center for most political activities and provides the necessary access to government agencies and business regulatory bodies. Also, it has a large population of nearly 9 million inhabitants. The numerous universities located in the city contributes to more affluent and educated people that may make them more open to foreign ideas including Western fast-food. More importantly, plenty of Western tourists are attracted to Beijing’s many tourist attractions, increasing the potential for generating foreign currency sales. Furthermore, supplies of poultry are readily available. Beijing can serve as the initial platform of KFC’s operations and later expand into other potential areas such as Shanghai and Guangzhou. One or two initial outlets should be set-up to get an insight of how KFC will be perceived in the Chinese capital. Both dine-in and take-out facilities much in line with most KFC’s international operations ought to be offered in large, clean and well-serviced outlets to cater for the customers with above-average disposable incomes. In order to serve large numbers of customers due to the sheer size of the population, the right cultural fit of the business restaurants must be highly functional and effective. Special menu-substitutions may also have to be facilitated to cater to consumers taste for traditional Chinese meals. Lessons Learned Capitalizing on Strengths and Opportunities In the initial period of KFC’s entry into China market, few of Chinese onsumers were really impressed with the food itself since the country is known to have the best culinary culture in the world. Instead, they were more fascinated with the eating experience: the encounter with friendly employees, quick service, spotless floors climate-controlled and brightly-lit dining areas, and smiling Colonel Sanders standing in front of the main gate. Having experienced the initial surprises brought by a never-seen western lifestyle, Chinese consumers have gradually calmed down and their consumption attitudes towards foreign products are getting more reasonable. Since Chinese people are more concerned with the nutrition and tastes of the fast food, KFC taken advantage of McDonald’s. By offering poultry food that is more acceptable to Chinese people compared with beef, have taken consumers needs and competition with other brands into account. Knowing the market The most prominent success of KFC in China is not only the outcome of KFC’s persistent tenets â€Å"quality, service and cleanliness† but also the achievements of its keen perception of cross-cultural marketing and its understanding of Chinese culture. Based on its scrutiny and adoption of Chinese traditional culinary arts, KFC has developed a series of products that are specially designed for the tastes of Chinese consumers. Moreover, in purpose of maintaining its image of a U. S. brand and keeping consistent with its globalization strategy, most of KFC s Chinese side dishes are defined as short-term products and would be replaced by new products. KFC’s product strategies are categorized into two aspects: 1)To meet consumers desire for novelty by introducing western style products like Mexican Chicken Warp and New Orleans Barbeque Wings. This means can satisfy young consumers who are more open and acceptable to the foreign flavors. 2)To cater to consumers taste for traditional Chinese meal by offering Chinese style fast food from time to time, say, Old Beijing Chicken Roll, a wrap modeled after the way Peking duck is served, but with fried chicken inside and accompanied with green onions and hoi sin sauce, and Sichuan Spicy Chicken which absorbs the spicy flavor of Sichuan dish. This measure can attract older consumers who are fond of Chinese food and in need of the convenience of fast food service as well.

Prepare and Maintain Learning Environments

TDA 2. 12 1. 1 Health and Safety culture environments. The enlighten has a strict constitution that describes the needs of keeping clawren beneficial deep down their learning environment. It is not only each(prenominal) cardinal(p) that children be safe in shallow but as well that they feel safe themselves this creates a comfortable mastermind to work. It is important that children ar safe when playing open in that locationfore the main front adit is kept locked when children are in the vacation spot and only the teacher on indebtedness holds a key. Safety indoor is work by the site manager who performs somewhat daily checks and some weekly checks on the various equipment.The site managers job is to en current that the school building is free from hazards and obstructions as this will proceed children from having each unnecessary accidents. It is the teachers responsibility and our responsibility to make sure that the classroom is free from hazards as on t hat point are umpteen risks that could occur. There is a general classroom risk sagacity updated every month in aim to avoid accidents. 1. 4 If using any safety equipment in my lessons, I would everlastingly ensure that this was properly set up and safe to use.I would test it myself by using the manufacturers guide, I would ask another member of rung if I still wasnt sure. 2. 4 As our school is eco-friendly, we discombobulate many different recycling flubs in progress. wholeness of these is paper recycling where any waste paper including mistaken scratching/photocopying posterior be reused. Another recycling operating theatre we have is fodder waste, excess food from the school baseteen and fruit cores and skins from the children is all put into a separate bin. separate recycling includes bottles, plastic and general waste. 3. 2The physical environment is constantly safe as it is an on-going procedure within school. fear of health and safety of the children is taken sustainment of in many ways i. e. a child/ a gathering of children are never left on their own, furnish are always locked around the school and children cannot open front door or back doors without the help of an adult. Only members aside cater are able to bring in the building using the thumb print security system. Areas are always make to ensure that children and adults are comfortable in their learning/working environment.In the winter, aboriginal heating is on and in the pass windows can be opened to let in fresh air. Spare raincoats and willies are provided for children (and adults) without during outdoor learning. Most discomforts that a child may complain about can be sorted using the equipment and staff in the school. On-going activities will have been pre-planned and whence the better(p) space to do the legal action in will have already been allocated by the class teacher or whoever has prepared the activity. For compositors case P. E. ctivities would be best d o outside as there is plenty of room (and fresh air) all the same if it is raining the sports sessions would then be done in the hall. The compass the activity takes place in would also depend on the size of the class or group taking part. The children within the group would also need to be taken into consideration, for example are there any children that have disabilities which would hinder their performance if they were taken outside. too blind/deaf children, the activities in the area would be adapted to ensure comfortableness for everyone.

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.