A Hypothetical New School

In the post-modern knowledge society, the role of the school in the education of the youth is paramount.   Education should develop the holistic person through the implementation of an educational program in the school.Among the auxiliary services of school, the library is directly related to the acquisition of knowledge, skills and attitudes, which are important to developing the youth’s potentials for a functional membership in his society.   This paper proposes a library design in terms of its basic features contained in the educational philosophy of a hypothetical school.New School Library PhilosophyIn the holistic education of a student, a school endeavors to develop the whole person composed of mind, heart, body, and spirit.   The school library herein proposed shall be devoted to the attainment of the basic vision of educating the youth to be a holistic person predominated by his spiritual intelligence with an ethical conscience that is able to guide his in living as a functional member of society—local and international.With a superior spiritual intelligence, a holistic person is able to develop and utilize all the other aspects of his personality, mind, body, and heart since the spirit influences all these aspects.   Spiritual intelligence is â€Å"the guidance of all three other intelligences,† (Latumahina, 2007.)   Spiritual intelligence can be developed â€Å"through making and keeping promises, educating and obeying your conscience, and asking questions yourself and living the answers.†Spiritual Intelligence and the Library. The school library herein proposed will provide great opportunities for developing the spiritual intelligence of its clients.   The working and learning environment is of great emphasis.The library staff shall be imbued with compassionate and caring attitudes towards the school and the outside community.   Moreover, the library staff will be composed of highly trained professionals in t he delivery of services to the students, teachers, school employees and outside clients.They shall work for and with those clients, thus, making the school library a service center of the school.   Working closely with the clientele also develops and utilizes their spiritual intelligence, which they pass on to the students.   The staff will therefore be not only â€Å"servicing workers† but also â€Å"instructing librarians.†Beyond the physical domain of the library, the staff will be rendering community service with the students, teachers and administrators, thus, making them an integral part of the school and community.The school library emphasizes service to its clientele and the community.   It will focus on service learning. It will promote ethical, civic, and academic growth through learning projects. These projects shall bring the school to the community.   Students, teachers, and parent volunteers will participate in reading projects where teachers, adm inistrators, librarians, parents and students read out loud to the community.Projects like these will help school community members, students, teachers, parents, and other citizens discover core values they have in common, and they will learn teamwork, decision-making skills, and strategies for implementing effective service learning projects. These projects will enable students to acquire teamwork and decision-making skills as well as strategies for action.The library materials shall be composed of books, journals, magazines, electronic media and others that will be useful for developing knowledge, skills and attitudes which are important to life and career.   They shall be influencing the development of mind, body, heart, and spirit.The library collections shall evenly address the needs of the students in learning the basic sciences, social studies, humanities, arts, languages and technology.   Interactive electronic materials will be especially devoted to the development of s ocial grace, ethics, values and morality.   Multicultural education will be given emphasis in the selection of reading materials and interactive materials in the social studies.Ethics and the New School.  Ã‚  Ã‚  Ã‚   In realizing the vision of educating the holistic person, the mission of the new school, therefore, puts emphasis on the development of the ethical conscience of the students, thereby unfolding their spiritual intelligence.This will be realized by incorporating ethics and morality as an integrated aspect of the school curriculum.   Ethics and morality guide the individual in being and becoming a functional member of society.   Foremost, the individual sets his goals in life in consideration of the overarching goals of society, which is peaceful co-existence and living with the rest of mankind — a main ingredient of multicultural education.Goal-achievement is guided by an ethical conscience toward to tolerance for other cultures and societies as well as c are for the environment.   The new school fosters tolerance through the compassionate and caring values and attitudes of its administrators, teachers and employees.The school library shall be at the forefront of the service-oriented school staff.   The librarians and other library workers will set examples in the development of spiritual intelligence.   Every staff member will be an instructional model of ethics and morality.A tender, loving, and caring attitude shall be radiated by every worker rendering services to the clients.   It is by fostering a library environment which serves and cares that the ethics of tolerance and co-existence will be taught to the students.   It will be teaching by example.Primary Purpose of Education at the New School.  Ã‚  Ã‚  Ã‚   Self-enhancement, therefore, shall be the main purpose for which the school’s educational program will be designed and implemented.   It is assumed that every human being is undergoing the educative pr ocess as she lives in society with all relevant social institutions nurturing and nourishing his.But the new school will be enhancing that education through transformation.   Transformative education will, thus, be the hallmark of the new school.   It shall endeavor to provide every possible opportunity for the unfolding of the potentials of the individual for a fruitful and rewarding life spent with the rest of the community of mankind.

Gucci’s Closest Competitor

CRITICALLY CONTRAST THE KEY ELEMENT OF GUCCI’S MARKETING STRATEGY TO ITS CLOSEST COMPETITOR. JUSTIFY WHY YOU HAVE CHOSEN THIS COMPANY AS GUCCI’S CLOSEST COMPETITORS Gucci is one of the most powerful leaders in luxury fashion market. Gucci is founded by Guccio Gucci in 1921 in Florence, Italy. Now, Gucci is the part of Gucci Group and Pinault Printemps Recloute (PPR). The globalization of the fashion environment and boost in the western economies transform Gucci from a small Italian company in to large luxury fashion brand in global level. In 1980s, Gucci had lost its appeal and became a tacky brand and was also in deep financial crisis. But Tom Ford raised Gucci from dead and found out the company’s leading status and maintains their customer loyalty. He created Gucci’s image as: sleek, sexy, and daring. And, Frida Giannini the new creative director of Gucci after Tom Ford changed the image of Gucci from sexy to sensuality. There are two sides to a brand like Gucci: the glamorous, very fashionable side but also with its roots and heritage of 90yrs history and artisans working for Gucci. (Frida Giannini , The Times, sept 5, 2009) For the Gucci’s rebirth marketing mix plays a vital role. The concept of 4Ps or the marketing mix is to explain the relationship of product, price, promotion and place with in the brand/business. The marketing mix is set of marketing tools that the firm uses to pursue its marketing objectives in the target market. So, this theory proposes that all brands/business need the right product, sell that product at right price, in the right place, using the most suitable promotion. Basically brands use this concept to attract their target consumer to match their needs and demands. Out of these 4Ps product is main focused area of marketing mix because the product is combination of tangible and intangible offer that a brand sells to customer to make money. Product addresses the need of consumer. The product has to have the right features like: it must look good and work well. â€Å"When well designed, good-quality product is at the root of the marketing campaign it often adds a degree of authenticity and sincerity to the marketing strategy. † (Gary Aspden – Adidas) For example: consumer needs to fit in with the peer group and the problem of how best to do this is solved by wearing particular brand’s trendy product. Mastering Fashion Marketing, Tim Jackson, 2008). As mentioned earlier that product is the main element of the marketing mix and in that product category footwear is the main focused area. â€Å"Shoes are always the most important thing because they are who you are. They change the way you walk, the way you move. † – Tom Ford The market for the footwear category is United Kingdom. The reason behind choosing this market is that the United Kingdom footwear market, the value of this market is reached a record high of over ? bn in 2008. The UK is one of Europe’s leading footwear markets, accounting for nearly 19% of the European footwear sales. PRODUCTSGUCCIPRADACHANELLouis Vuitton Women’s wear Men’s wear Shoes Hand Bags Jewellery Fragrance Watches Eye wear Beauty products X Hats Tie Scarves Based on the above mentioned table Gucci's competitors are Prada, Chanel and Louis Vuitton. The reasons behind taking only these brands are these four brands are very popular in luxury market all over the world. So, through this table get the basic idea of the product wise comparison in these four brands. All the four brands have almost similar products but the personality is different. Gucci is much more similar to Prada in terms of brand image and product comparison. The brand image of Gucci and Prada is very seductive, powerful, accomplished, sexy and chic. Where as Chanel and Louis Vuitton have very smart, classic, sophisticated and mature personality. In terms of prices Gucci and Prada go hand in hand while Louis Vuitton and Chanel are quite expensive as compare to Gucci and Prada. While comparing the brand value of these brands and the ranking of Top 100 Brands Louis Vuitton stands on 17th rank with the brand value of $21,120millions, Gucci stands on 45th rank with the brand value of $3530 millions, Chanel stands on 60th rank with the brand value of $6040 millions and Prada stands on 91th rank with the brand value of $3530 millions. So, as comparing the brand value and rank of top 100 brands Chanel will be the closest competitor of Gucci. But, here the comparison is based on the product so, Prada will the Gucci’s closest competitor because as per the product line and brand image Prada is Gucci’s closest competitor. GucciPrada As, mentioned earlier in the product line Prada is the closest competitor of Gucci. Here, the images from Prada and Gucci men’s footwear collection of Spring Summer 2010. The design of the product is similar, shape of the shoes is also similar, and material they used is also same. The cut detail of the outside counter of the shoes is also similar. From the top view both the shoes look very similar The stitching detail is similar but Gucci gave dark color piping on the toe cap and gave same color stitching where as Prada gave contrast color stitching detailing which is quite noticeable. The colors of these shoes are different Gucci used Bordeaux color in suede material which gives very dull look while Prada used same material in Red color which gives very bright and smart look. Prada also gave a logo on side of the shoe whereas Gucci gave green, red and green color web stripe. The detailing on the tongue of the shoes is also different Gucci gave zig zag look on the edge which gave a rough look though its finished where Prada gave very finished look stitching which give very sophisticated look. The lining of the both the shoes are also similar in terms of color and leather in sole logo. The color of the sole is also similar but detailing is different Gucci gave their own brand logo detailing on the rubber sole where as Prada used nice detailing on drive sole. The price of Gucci’s shoes is $530 where as Prada shoes cost around $557. Good design and color and with affordable price Prada is better than Gucci in this comparison. Gucci Prada This advertising campaign is for Autumn Winter 2009/10 for Prada and Gucci for the footwear collection. In both the advertising campaign both the brand focused only on the product. Gucci’s products are very shiny and glamorous which represents very urban, beautiful, young and chic look. Where as Prada shoes are inspired by Trojan helmet/headgear which gives very stylish and cool look and more focus on product detailing. Gucci ( Gucci’s store display window is very basic with perfume bottle shape with yellow light and hand bag shape with pink light and back drop is decorated with Gucci logo. In the display Gucci display bags and shoes together. The ambience and the light effect give very rich look to Gucci’s display window. In the display window Gucci only displayed their basic and classic bag and shoes. Whereas Gucci’s image is very sensuous, sleek and sexy, but through this window display Gucci can not convey its brand image. But, the light effect, ambience and product complement each other. But this display does not Whereas Prada’s window display is totally opposite to Gucci’s window display. Prada give more focus on their product in the display window. Prada used six silver mannequins to display their footwear and which gave very trendy look. Even the color of footwear is very nice and eye catchy when it put on those silver mannequins. The placement of the mannequins is also very nice, they displayed 3 mannequins in the right direction and rest of 3 mannequins they just flip it so that the product can highlight more. And they used white lights for the display. So, through this window display Prada convey their brand image which very trendy, smart, sexy and sensuous. Thus, to conclude we can say that Prada is Gucci’s closest competitors. The reason behind this is Prada offer almost all the product which Gucci offers and the brand image of Gucci and Prada is same which is very sexy, sleek, sensuous and smart. In product line in the same season Gucci and Prada offers almost similar shoes but Prada’s shoes are very smart and trendy where as Gucci’s shoes give very dull look. So, from that comparison Gucci is not able to maintain their brand image where as Prada’s shoes are simple but Prada maintain their brand image which is very smart. While comparing the advertising campaign and the store display window, Prada and Gucci go hand in hand in terms of convey the message through advertising campaign and also highlight their image through store ambience. But Gucci has 278 stores all around the world where as Prada have 128 stores around the world. So, globally Gucci is more famous than Prada. The brand value of Gucci is more than Prada. Reference: Websites: http://bwnt. businessweek. com/interactive_reports/best_global_brands_2009/index. asp? sortCol=rankid=1=2=50 http://www. stanforddaily. com/2009/03/06/milan-fashion-week-sexes-out/ http://www. researchandmarkets. com/research/34a553/footwear_market_re Books: Journals: Images: Prada Display: http://williamyan. com/blog/2009/7/24/retail-prada-window-display-in-soho. html) Gucci display: http://www. bobbintalk. com/2009/11/window-shopping-gucci. html

Refitting the pieces Essay Example | Topics and Well Written Essays - 750 words

Refitting the pieces - Essay Example The results of the interactive Jigsaw Puzzle Media Piece exercise revealed one’s personal worldview is formed and composed of three essential components. The three components that make up my worldview are God, Ethics and Knowledge, because they shaped my thoughts, experiences, education and life decisions.Believing and trusting God’s Word provides a lively faith and confidence in God’s promises. One of the most significant lessons I learned is to live and learn from the Bible. Believing and trusting God’s Word and incorporating the Gospel in our lives will create a positive worldview and generate consistent worldview beliefs. God’s teaching, as detailed in the Bible shared messages of loving one’s neighbor as oneself and to obey the commandments. There were instances in life where trials and challenges are faced through death of loved ones or through troubles in relationships. The lessons of love revealed in the passages of 1 Corinthians 13 g ive the greatness of love in its capacity to encompass patience, kindness, hope and the constant pursuit for truth (Bible Gateway, 2010).Embracing God’s worldview steers us to make sound choices and life decisions. Those decisions uncover who we are, what we believe, and our purpose. When difficulties become pressing, the faith and trust in God gives courage and comfort that everything would come to pass and that these trials are just temporary incidents that are made to be experienced to make us stronger to face vicissitudes in the future. The Bible creates a moral compass for people to learn and make life decisions. As a book that gives guidance in the form of messages, one is directed to focus on specific aspects in one’s personality that needs to be addressed. For example, people who face problems in disobeying God’s commandments would find answers in Deuteronomy 27:11-27: â€Å"(â€Å"Cursed be he that confirmeth not all the words of this law to do them. And all the people shall say, Amen† (Deuteronomy 27:26)† (Deeper Christian Life Ministry, 2011, par. 1). Those who are reflecting on taking one’s life or killing others would find answers in the value and sanctity of life through this verse: â€Å"Don?t you know that you yourselves are God?s Temple and that God?s spirit lives in you?† 1 Corinthians 2:16† (The Bible and the Sanctity of Life, n.d., par. 10). Following God’s Word creates the foundation necessary to choose between good and evil and right and wrong . My life decision is to learn, teach and follow the scripture but to also keep an open mind to others beliefs, opinions, and worldviews. Keeping an open mind means being open to accommodate diverse points of views and perspectives from different cultural and ethical orientations. With regards to ethics, one’s personal contention is to treat everyone like you would want to be treated. Being ethical (moral) is how humans relate to one another, how you relate to yourself, and how you relate to your creator. The word of God provides one with the direction and guidance to avoid treating others unethically or immorality. One’s personal beliefs, values and standards on fair and equally treatment in according human rights can impact in a negative or positive manner, depending on the person and how they apply it. For example, there have been controversial issues of equality in gender and race in organizations. With one’s commitment to ethical codes of conduct, one is co mmitted to treat all

Employment Law Issues Essay Example | Topics and Well Written Essays - 3750 words

Employment Law Issues - Essay Example Despite hospitality industry best efforts to minimize the incidents of employment-related discrimination charges in the workplace, the number of discrimination charges lodged against the industry in on the increase. Majority of the EEOC cases revolve around not just grievances of harassment but also relating to retaliation where the complaining employee was forced to quit or fired due to hostile work atmosphere. In the majority of the cases, there are harassment charges mingled together with retaliation charges. In such cases, employees can seek both compensatory and punitive charges as this will increase the not only the amount of payoff but also employer’s liability. Denny’s Inc is a famous food chain restaurant in the U.S.A. However, in 1994 and recently also, it witnessed a host of racial discrimination cases and it settled these issues by paying whooping compensation amount to claimants. This research essay analyses how Denny’s Inc, is a famous restaurant chain witnessed a host of discrimination in employment litigations including racial, sexual and disability discrimination litigations and what are lessons learned by it in detail. â€Å"The Civil Rights Act of 1964† deals with numerous disciplines of discrimination from education to voting. The coverage of employment aspects falls under Title VII which prohibits discrimination in all features of employment footed on â€Å"religious faith, gender, race, nationality, and color,† The discrimination in the workplace was present widely and hence Congress took the unprecedented decision not to permit jury trial in Title VII cases. Hence, enforcement of Title VII was assigned to federal judges. It is really shocking to note that in the early years, some of the judges who heard indiscrimination cases were murdered due to their efforts o transform the world.

Parent Power Guide to Responsible Rearing, written by Logan Wright Essay

Parent Power Guide to Responsible Rearing, written by Logan Wright - Essay Example But there is something more basic and more important that must come first. Certainly, as noted from the authored reading of Logan Wright, parenting involves a lot of issues especially in terms of developing the personality that could help one be successful in life in a young child who simply is still waiting to bud out to maturity. Whatever it is that the parents would want to imply on their children, those lessons would surely stick to the minds of the children and would thus guide them throughout their lives. Yes, this is most certainly the reason why many readers note Logan's book as the practical guide towards successful parenting procedures needed to be taken into consideration when trying to train the children towards maturity. From this reading, it is made certain that the authoritative parent is warm and involved, but is firm and consistent in establishing and enforcing guidelines, limits and expectations. Adolescents raised in such homes are higher achievers, are happier, and are therefore less likely to engage in antisocial behavior and crime. Yes rightful parenting results to better development, and better individual development leads to a better society.

Art integration Essay Example | Topics and Well Written Essays - 500 words

Art integration - Essay Example ’†¦..learning skills, persistence and teamwork among kids.’’ The research made findings that schools in Alameda and Los Angeles counties have huge participation in the Arts for All initiative and Alliance for Arts Learning Leadership. In Boston, the mayor’s office has supported programs such as out-of-school art programs while in the New York City and Chicago schools have a soft spot for stand-alone arts where private foundations have been critical in art growth. The research has also indicated that a community-based organization in Dallas has facilitated the integration of arts learning into elementary schools After a research had ‘’†¦..painted a worrying picture of the art†¦.’ status in Dallas, various organizations under the umbrella name â€Å"Dallas arts Partner initiated a turnaround in the art. ArtPartners was formed fundamentally to oversee the implementation of various art programs that are focused creating art programs and making them available in school. It is significant to point out that the ArtsPartners have been able to integrate creative learning in all school programs, the curriculum and neighborhood cultural centers. The effort put by the ArtsPartners has since paid dividends as many students have excelled in their learning through the arts. In this they realized the education system can only achieve its objectives conveniently when art is part and parcel of learning. In Chicago, Hubbard Street Dance is one of the most original art forces in dancing. The group is among other few groups that perform art pieces in the entire and have performed in about fifty countries. The groups comprise two dance-iconic companies that are instrumental in presenting new masterpieces and works in arts. The group has transformed the life of many ‘’†¦Ã¢â‚¬ ¦through the use of creative energy in their education, community and youth programs.’’ On the other hand, Jammie Topper, a teaching artist, declares her huge interest in imparting art skills

Aristotle Contemplating the Bust of Homer by Rembrandt Essay

Aristotle Contemplating the Bust of Homer by Rembrandt - Essay Example The essay "Aristotle Contemplating the Bust of Homer by Rembrandt" analyzes Rembrandt van Rijn's "Aristotle Contemplating the Bust of Homer". The painting depicts that Homer is blind, with his eyes brown voids, which guide the eye into a deep darkness. The sightless eyes of Homer’s bust are innocent and profound, which depicts his face being humble and weak and wearing a simple shift. Aristotle’s eyes are black, and they look wanly, like he knows too much. It makes the viewer feel that time has collapsed, and the viewer is directly communicating with the philosopher the way he communes with Homer. Alexander the Great is depicted in a medallion that hangs from a golden chain in Aristotle neck, of whom he had tutored. It can be noted that Aristotle is contemplating the worldly success worthiness, which is material rewards, as opposed to upholding spiritual values. The gesticulates of the hands, depicted by the sleeves that have cascaded and the show that is playing over t he brow and eyes of Aristotle support the previous interpretation that he does not care about the spiritual values. The paint was painted for Antonio Ruffo, who was great Sicilian collector who also referred the comparison of touch and sight by Aristotle. The bust of Home portrait can be referred to as a legendary figure that comes from three centuries earlier. Therefore, it depicts that Aristotle is contemplating on a portrait that depicts a remote past. The artist wants to acknowledge that to some degree any portrait is a fiction.

Strategic Planning for Digital Marketing Communications Essay

Strategic Planning for Digital Marketing Communications - Essay Example SV has expanded footings catering section for airlines (Saudi Airlines a, 2012). SV has partnered with Sky team Alliance; a group of 18 international Airlines to provide more flexibility, convenience and choices to customer of member alliances (Saudi Airlines b, 2012). SECTION 1: CHALLENGES AND OBJECTIVES Section 1a: â€Å"General† marketing communications challenges ISSUES CHALLENGES 1 Global business is moving around the slogan of â€Å"Be Global – Act Local† (Amey, 2012). Globalization &Localization on increasing destination as well as service. 2 Tightening of policies, increasing taxes resulting in job losses; counts up to 1.6 mn in UK in 2010 the trend continues till date (The Economic Times, 2012), US waiting for sustained pick up in consumption, Top ten areas of change in consumer spending worldwide are aimed to be financially considerate (Delotte, 2011). Adopting product marketing that persistently stands business product to be best value for money spent. 3 Spending moved from bricks to clicks and now on to mobile. 52% of US consumers using mobile for purchases overall with more than 20% of air-tickets are purchased through mobile. Availability and adaptability with most digital mediums. 4 51 % rely on online shopping for product search and evaluation. In 2012, 167 million people shopped online with average amount of $1800. Sufficient information with easy purchase option to attract customer base. Accelerated pace of globalization with media in general and social media in specific Performance is open is for anyone and everyone for evaluation; more importantly beyond managements control. Priority challenges and risks: Globalization expansion in China (Amey, 2012). Increased accessibility: increased communication through interactive mobile. Huge risks are associated as increasing pace of digital has not been adopted with similar pace. Currently flight passengers’ account in 58% of Saudis, 22% of Arab and while70% is guest trave lers. Consistent travelers are less (for instance, seasonal travelers in holy months). Travelers’ consideration of SV as best value for money can be ranked medium as it ranks n 6th among the top 10 economy class (Sky Trax, 2012) but mainly accounts for the guest. Focusing mainly on guests and not growing business class is risk. Digital connectivity for flight bookings only (Clear Trip, 2012). Industry challenges ISSUES CHALLENGES 1 Post 9/11Security issues. Redeveloping travelers trust along with strong force than 9/11 updates on various mediums. 2 Fuel prices and economic uncertainty increasing continuously shrinking profits. IATA project Airline profit $ 3.0 Bn. Maintaining effective flights schedule and promptly passing on updated information to customer at easiest disposal 3 Deregulation/privatization of airlines; advertising fare regulation (Zacks Equity Research, 2012) Retaining customer along with detailing price component of tax in advertisement 4 Blocks or strategic alliances to maintain Selection of marketing tactic to exploit benefits of alliances and possible issues. Priority challenges & risk 1. SV developed alliance with Sky team gained the benefits cost saving, flexibility etc but not marketed other than press releases updates on member websites (Sky Team, 2012). 2. For increasing efficiency its flight program Al- Fursan has been developed. This program has been provided with internet based marketing as present on the airline’

Basic Social Sciences Research Methods Essay Example | Topics and Well Written Essays - 1500 words

Basic Social Sciences Research Methods - Essay Example Usually, your research depends upon what information you need to collect in order to make further decisions or to validate a previously taken decision. Obviously, in conducting research there are shortfalls too. The depth and breadth of the information are important variables. The more you get into the breadth of the information, the lesser you are able to penetrate into the depth. This might not happen if you have numerous resources to carry out the research. For those who are starting on research and are relatively new on these horizons, they can use a combination of research methods to help themselves in getting the right mix of breadth and depth of information that they require. There are five basic types of research methods used in the contemporary world today. They are primarily qualitative, descriptive, co-relational, casual-competitive and experimental research. Qualitative research is sometimes called ‘ethnographic’ research. It involves the collection of data a nd information in a natural setting so that valuable insight is gained on the variables of interest and how these variables affect the outcome. This research studies numerous variables over a vast period of time. Time and resources are spent to understand how and why things are the way they are, how and why they became the way they are, and what is the underlying meaning of all of them. The basic advantage is that qualitative researchers don’t want to control or lead anything. Instead, they focus on understanding the impact of the variables on the outcomes in the natural environment.

Compare Essay Example | Topics and Well Written Essays - 750 words

Compare - Essay Example Though they were written 114 years apart, both individuals reinforce the importance of providing liberty and freedom for all men, illustrating that freedom has been a major issue in history that has caught the attention of very prominent historical figures. King makes sure that the reader understands that oppression is a danger to those who deserve freedom. He insists that it must be demanded by individuals who are being oppressed if there are to be any changes to tyranny or domination by hostile forces desiring to limit the liberties of members of society. King believes that in order for positive changes to occur for securing liberty, action must be initiated immediately. King is concerned that â€Å"do nothingism† of American culture (King para. 23) serves as a catalyst for denying independence, therefore trying to spark action with the audience, the clergymen, to emphasize the importance of African-Americans in taking responsibility for securing their own self-determination against oppressive forces in society. Thoreau, additionally, is attempting to spark action in the reader with the concepts and descriptions described in his essay. Thoreau asks men to take autonomy in assessing the role of government in the lives of citizens in order to provide more freedoms and liberties. Thoreau tries to spark action with the audience about the role of government, asking the reader to consider what type of government would be most appropriate for providing respect, which he believes is a step toward making progress in removing the oppressive force of government tyranny. Much like King, Thoreau sees influence of domineering regimes in society that try to remove choice and free will as being unacceptable and ones that require direct action by thoughtful members of society. King considers, in his letter, that the rights of men, whether black or white, are God-given and guaranteed to all citizens. He emphasizes the moral responsibility of providing liberties to all c itizens, using God as an appropriate reference to get the reader motivated to take action for their own autonomy from oppression. He believes that the unjust laws of men are dangerous because it conflicts with God’s intentions about equality of men, suggesting that any law which does this is largely unjust. Thoreau has a very similar view, however without the strong religious connotations that are present in King’s work. Thoreau sees the notion of moral conscience as being the foundations of what provides liberty and independence, much like King seeing the powerful government as being unjust and without conscience for securing the well-being of men. Thoreau compares the military of the time as being forced to fight against their own consciences by strong government, making them only a silhouette of what actually constitutes inherent humanity in men. The comparison with King’s work in this case is that government represents a danger to the God-given or in-borne e thics and morality of humankind. Thoreau compares military men as machines, coerced to remove their principles and ethical attitudes in order to serve the state. Similarly, King describes the forced complacency of historical slaves to this same type of obligation to serve the oppressor that leads to social insensitivity for the needs of fellow men. Thoreau also references the voting process, believing that it does nothing at all for securing virtue and liberty in

IT Management Essay Example for Free

IT Management Essay Database management is an important aspect of any modern organization given the massive growth of data volumes as a result of regulations on data storage as well as the increase in transactions and communication channels. This paper presents issues arising form the task of managing information through its lifecycle; specifically for companies based on PeopleSoft, SAP, Siebel, CRM, Oracle E-business suite, supplier relationship management (SRM) or ERP applications which are increasingly being affected by expanding data volumes within them. The article brings into perspective, ILM; which seeks to optimize on data by employing processes, policies tools and practices essential in linking the information’s business value with the most cost effective and appropriate IT systems from its conception to the time its disposed. While the current processes of defining, managing and storing data lack emphasis on its management, ILM provides a solution for effectively managing organization data applications. It is imperative to emphasize on the now prevalent decline in business agility as a result of problems with data volumes so as to keep data management cost down by taking an enterprise approach in managing data as records. ILM supports this. The findings that 56 percent lack interest in implementing ILM strategies or that they do not know of any ILM efforts within their organizations is biased considering that the enterprise approach is a relatively new approach to organizational information management. It is the current data systems that have failed as they only allow firms to handle problems as they occur and not that firms are reactive or else undisciplined about their data challenges. The finding that most firms either do not know or allocate minimal ILM strategy budgets ought to have outlined a parallel study of efforts made in alternative data management approaches. ILM introduces a cohesive strategy for the management of information across the organization which is exactly what is needed in modern business environments. Although ILM is promising, the author ought to have compared the findings with firms’ preference for alternative systems or even priorities as well as its fit with the current technology levels. The study also does not highlight the relative costs of implementing ILM with respect to the firms’ profit margins while outlining the implementation levels for ILM. However, ILM is an important strategy for data that need to meet certain legal storage mandates although it does not assess relative cost maintaining such information as opposed to frequency of events requiring this information. While the author addresses the issues of difficulties in determining information’s life cycle, he does not address the limitations of legal determinants which could jeopardize the gains from ILM. Nolan, R. McFarlan, W. (2005). Information Technology and the Board of Directors: Building an IT Governance Committee. Harvard Business Review, 83 (10),  In such a digital age as this, it is imperative that any organization invest in a strong governance committee on IT that can oversee the formulation and integration of IT policies into the company’s competitive advantage strategy. Warren McFarlan and Richard Nolan detail the basics of establishing and maintaining an IT governance committee. An IT governance committee is paramount in developing a custom framework on which an organization’s IT policies are founded thus enabling a firm to avoid applying other companies’ best strategies which may not fit into the modern nature business strategy. The authors elaborate on the three key approaches that are essential in guiding any company in building an effective IT governance committee: appointing the suitable personnel as well as their chairman; assessing how the committee would link to the audit committee; and the preparation of the committee’s charter. The first two are particularly more important. Independence is vital for any modern-day committee effectiveness just as the authors recommend the independence of the IT committee. Noting the importance of the importance of mentorship and expertise, McFarlan and Nolan emphasize on a chairman who’s either an IT professional (for strategic mode firms) or has past experience (for factory, turn around and support mode firms) in a successful IT-strategy based firm. In all cases, being IT-savvy, understanding an organization and its business needs as well as the systems architecture is paramount in addressing the bigger picture; technology’s potential to change the outlook of the business economy and this supports the characterization of the modern-day business leaders. In this regard, the authors emphasize on selecting a chairman or at least an IT professional who can successfully balance the short-term needs of the firm with its long-term IT investments. Since distraction by difficulties stifle IT integration, the importance of the committee and especially IT experts is addressed as they understand the important dynamics governing technological advancement both at the board and senior management level and thus can appropriately criticize all in-house entrenched thinking. The current scarcity of such experts explains the reason for the increase in number of IT consultants. The article addresses the current issues relating to accountability to the regulatory and economic objectives through alignment with the audit department. However, drastic changes characterizing the advancement in IT would necessitate a considerable number of the committee be composed of IT professionals rather the one or a few suggested by McFarlan and Nolan. Gary, S. , Alice, G. Alexis, F. Risk Management Guide for Information Technology Systems. Recommendations of the National Institute of Standards and Technology. National Institute of Standards and Technology Special Publication 800-30. Gaithersburg, MD. Risk management has become an important aspect of the information technology management system. Gary, Alice and Alexis emphasize on the role of IT-risk management amidst the increasingly growing use of automated information systems aimed at protecting organization’s information assets from IT based risks. IT risk management is largely a management function as this IT guides confirms through focus on the companies mission rather than the IT experts only as the firm’s capacity to perform its mission is affected by these risks. The guide outlines the practical guidelines and the available cost-effective security systems essential in protecting the mission information which is an imperative in the modern world. This guide is literary applicable in every angle of every firm as it can be easily expanded or abbreviated to tailor it to fit specific organizational situations. Apart from enabling firms’ IT departments to be accountable for IT budgets, the guide is also helpful in guiding the accreditation of the IT systems. This guide is an important resource for a wide rage of IT users: the non-technical and technical staff as well as the experienced and the non-experienced ones. Therefore this guide does not only provide an overview of IT risk management but also evaluates how such a process would rhyme with the all the phases of the system development lifecycle (SLDC) as well as detailing the obligations of individuals who usually support and apply this process. In this regard, the guide provides a clear methodology for IT risk management as well as its relation to the system accreditation. This is made simpler by the provision of system-based information essential in defining the IT system as well as its operating environment. For such a process, it is important that supporting material such as the samples for the documentation of the results for risk assessment, as well as samples of a security implementation plan be addressed more keenly as they are essential in improving the effectiveness of the guide. It also focuses on modern-day needs such as enabling IT individuals to customize their IT systems to fit into effective control systems. The authors address the importance of assessing the knowledge gap within the organization as relates to process of implementing information technology management systems. Although not related to the topic at hand, the example on electric power and railroads does address the key idea of being aware of the knowledge gap in the appropriate way so as to make the most out of IT systems’ opportunities. While it may be true that IT technologies’ cost performance had changed to the magnitude of about 107 in at the time of this study, it is no guarantee that it is going to evolve at this same as the author suggests given the tremendous growth in technology and educational advancement. The authors focus on cost effectiveness and the ability to do things differently through the transformational opportunities offered by IT integration as with the examples of American Hospital Supply’s and American Airlines SABRE. In this regard, they emphasize on the knowledge about IT’s associated economics. Strategic implementation and management of IT networks in organizations has made organizations capable of extending their scope globally to take strategic advantage of IT integration. This is because the authors address specifically the fast changing pace of business operations with regards to assumptions and rules of business competition and this an important resource for modern-day senior management and CEOs who are charged with the responsibility of diversifying into intangible services that are information based. While its clear that technology is increasingly growing, it implies that the opportunities due to IT integration are bound to increase; it also implies that companies venturing into IT management can differentiate their services and cost and product features not only for sometime to come as the author puts it but for an indefinite time provided there is follow up. However, the author provides a two lenses approach that provides a holistic approach towards IT integration. However, the authors do not note the likely challenges that the highly dynamic and drastically changing IT infrastructure as driven by competition may cost. In this regard, the article emphasize on roles of CIO and CTO.

Marketing Plan Executive Summary Essay Example for Free

Marketing Plan Executive Summary Essay {Insert Name Here} provides the best in patient centered healthcare North Decatur has to offer. {Insert} will provide quality healthcare in a number of specialties, having a primary focus on our Heart and Vascular Center services. As our hospital continues to grow, we are devoted to staying up to date and providing our patients with cutting edge technology options, while caring for them wholeheartedly. Many of our premier services we offer to our patients are those in our Heart and Vascular Center, where interventional procedures are taking place every day in order to prevent our patients from having to undergo open-heart surgeries and being transferred to tertiary facilities. The Heart Vascular Center is equipped with state-of-the-art procedure rooms that offer patients the most advanced form of cardiovascular imaging in the area. We employ the latest heart care and vascular technology which provides the ability to perform both cardiac and peripheral vascular procedures on a single system. Our technology gives detailed diagnostic information that leads to effective treatments of heart and vascular diseases. This up to date equipment is at the fingertips of our physicians allowing them to perform intricate procedures such as placing balloons, stents and other therapeutic agents in vessels requiring treatment. By informing our service area and the general public of our competent and well educated cardiology specialists and elegant state-of-the-art amenities through grassroots outlets and direct contact, {Insert} will quickly gain more market share. We will also provide benchmarked customer service and flexibility. Targeted consumers of our services will be those individuals and families in nearby communities at higher risks of contracting cardiovascular diseases due to lifestyle choices, family history, and certain demographics. These patients are usually referred after admittance to our facility or by other health care professionals such as primary care physicians, outside specialists, or extended care facilities. Our hospital has already developed an excellent reputation with many of these professionals, but plans to align ourselves with even more community health providers in order to attract more patrons in our service area. We also will also utilize data obtained from the Georgia Hospital Association to solicit consumers in our service area  directly. There are currently two other hospitals that serve North Decatur. One is a research based hospital located less than ten miles away from our location. Due to the lack of highly skilled physicians specializing in interventional cardiovascular procedures, we believe that once this is communicated with our service network, interest in their cardiovascular services will decline greatly. The other hospital currently operating in our area only markets in to small number of our targeted zip codes; they also do not offer the unique blend of specialty care and patient engagement which {Insert} will be providing.Objectives Increase brand awareness, evidenced by an increase in unsolicited requests for services. Increase customer referrals by 7% per quarter.  80% of Customer Satisfaction Surveys returned indicating satisfaction with services. Respectable gross sales by the end of first year. Keys to Success Professional quality of services offered Reliability being available through on-call, and adequate staffing Effective collaboration with other community professionals (physicians, extended care facilities, and other organizations) Steadfast engagement with our home community, organizations, and clubs

Reverend Martin Luther King Jr

Reverend Martin Luther King Jr German sociologist Max Weber (1968) made the first argument of charismatic leadership that a leader with charisma is able to convince people. He believed that the leadership of charismatic individuals with exceptional quality can size up the situation immediately and lead to a very profound influence on his subordinates. Moreover, charisma is an encouraging factor that leaders are available with the nature of interpersonal attraction, including personality, ability, experience and frustrations. Therefore, this essay is going to discuss the importance of charismatic leadership in two following aspects. The relationship between leaders and followers Jay (1998) noted that leaders charisma is a contagious indictor to help his follows. When a leader is considered to be very attractive, then their subordinates are more willing to take the leaders proposals to work. According to him, charismatic leadership often set an example for their employees in order to lead or influence them, which could disseminate the values and varied expectations according to their own action. Furthermore, Jean (2005) supported an example of how Reverend Martin Luther King Jr affected his followers can demonstrate the importance of charismatic leadership. On 1 December, 1955, Alabama in the United States, a black woman named Rosa Parker refused to obey an order form a bus driver who asked her to give her seat to a white passenger. Then the driver called the police, who arrested her for breaking the bus segregation laws. When the black community heard about that, they were engaged. Already some black people were collecting weapons to fight against whites. Th is matter raised Reverend Martin Luther King Jrs attention; he thought that violence was not the answer and the situation must be corrected. After that, King called a meeting at his church and appealed a mass movement to carry out bus boycott. While the boycott continued, the black leader encouraged his congregation to keep up their struggle and emphasized the need for non-violent action. Finally, the Supreme Court ruled that segregation was unconstitutional. Martin Luther King had played a leading role in the victorious Montgomery bus boycott for civil right. His talent and morality were deeply attracted by the majority of black supports, which made him become a charismatic leader in democratic rights movement. However, Edwin (2008) opposed that charismatic leadership can be a curse so that a leader charisma not always brings the benefit to followers. In his opinion, abusing charismatic leadership may bring a danger or risk to the organization, because it can be not only used for destructive purposes, but also it might be utilized for private purposes, which would result in deception, manipulation and exploitation of others.Leaders want their followers to share the same beliefs and values, which are strong models to employees. If their advocated beliefs and values are not correct, charismatic leadership would take followers into a wrong way, which may cause a disastrous consequence. In Hans (2000) research, Hitler accepted the idea of Benito Mussolini, who was the founder of Fascist Nazism. There were a lot of followers because of his attractive leadership during the World War 2. But he advocated using coercive power of fascist Nazism and guide people toward an extreme misfortune. Perspective of charismatic leadership    Andrew (2009) deemed that charismatic leadership helps entrepreneurs to strengthen and improve their leadership effectiveness.The charisma of a leader on the facet of interpersonal skills can bring big advantages for many reasons. In the first place, employees tend to seek charismatic leaders who they believe. Secondly, people perhaps are always influenced by the personal charm on their leaders because they feel that it will enhance their self-confidence and self-esteem which can produce a pleasurable sensation. Finally, staff wished to work for glamorous leaders who may stimulate their enthusiasm. Another case of Martin Luther King is that his speech of I have a dream deeply motivated black people fighting for civil rights and freedom. On the contrary, Martin (2005) argued that the external environment and situation has undergone tremendous changes, adverse psychological characteristics and values, which have not been expressed before, may happen on charismatic leaders. In another word, their original psychological tendencies have been suppressed due to the growth and expansion of external and inherent constraints. Consequently,various emotions complacency would expand on charismatic leadership in an organization after succeed in hard works. In order to seek compensation after hard works, leaders might often seek some illegal and immoral businesses as a spiritual compensation so that they seize the wealth and pleasure in irregular ways. There are also some leaders losing initiative and enjoying material life after success.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the other hand, Tudor and Murray (2006) pointed out that the charismatic leadership also exist dark sides in the organizational management, such as mismanagement in the network of members relationships (especially the staff in grassroots level and managers in supervisory level). Sometimes, leadership transition does not follow the usual practice, which may reflect on a phenomenon that organizational members misunderstand the leaders intent. Besides, charismatic leadership may result in alienation between leaders and employees in an organization. Leaders charisma might be formed a strong leadership and management style so that there would be an opposition among in-group and outside-groups members of the organization, even though the organization is in a tantamount splitting situation. Meanwhile, momentum that may be ascribed in leader charisma did not produce agreement in organizational members who are accustomed working in the traditional slow pace. Consequently, it is a negative effect that they deal with their managers courteously but without sincerity. These actions will certainly have a negative impact on employee performance. Conclusion In short, the charismatic leadership could process a strong charisma in both positive and negative sides. Therefore, grasping the dialectical relationship of charismatic leadership can play a positive role even if there would be some negative effects. Charismatic leaders, who experienced in the formation of overall quality, will have a profound emotional impact on their follows. Subordinates even treat them as an epic hero or model figure so that charismatic leaders should have great power, self-confidence, power, beliefs and moral steadfastness. Furthermore, they are good at setting up ambitious objectives and being examples of their own to express their belief and values in an organization. Bibliography Weber, M. (1968) On charisma and institution building: selected papers, Chicago:University of Chicago Press Conger, J (1998) Charismatic leadership in organizations, USA: SAGE publications, p 20 Darby, J. (2005) Martin Luther King Jr, USA: Lerner Publications Company, pp 24-48 Hollander, E (2008) Inclusive Leadership: The Essential Leader-Follower Relationship, United States of America: Taylor Francis Group, p 88 Slomp, H (2000) European politics into the twenty-first century: integration and division, USA: Praeger Publishers, pp 9-10 Dubrin, A (2009) Leadership: Research Findings, Practice and Skills, 6th edition, USA: South-Western, pp 92 Wood, M (2005) The Fallacy of Misplaced Leadership, Journal of Management Studies [J], 42:6(2005), pp1102-1112 Rickards,T. and Clark, M (2006) Dilemmas of Leadership, United Kingdom: British Library, pp 88-90

The Role Of Puck in A Midsummer Nights Dream :: Midsummer Nights Dream

The Role Of Puck in A Midsummer Night's Dream      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The role and character of Puck, or Robin Goodfellow, in A Midsummer Night's Dream, is not only entertaining but quite useful.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   William Shakespeare seems to have created the character of Puck from his own childhood.   In Shakespeare's   time it was believed that fairies and little people did exist.   Whenever something went wrong around the farmyard or house or village, incidents such as buckets of milk ‘accidentally' spilling over, or tools suddenly disappearing, or doors opening for no reason,   it was blamed on ‘ those damn little people!'.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The idea of Puck's character is a lovely one.   One can't help but be attracted to him and his innocent, little pranks.  Ã‚   He is also known by the name Robin Goodfellow.   The audience can only see this ‘Robin Goodfellow' side of Puck when he is trying to fix something he disrupted, hence the name Goodfellow.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   When compared to Oberon, King of the Fairies and Titania, Queen of the Fairies and the remaining fairies of the play, Puck does not seem to fit in as well.   While Oberon and Titania belong to the forest and the world of dainty fairies, a small village setting seems more appropriate for Puck.   He is the type of fairy that likes to be around mortals and cause them trouble, as opposed to other fairies.   This is why Puck's   little job with a love potion and a young couple is perfect for him and he perfect for the job.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Puck is a likable character who tends to create mischief around himself. Everything is a game to crafty little Puck.  Ã‚   Yet once he realizes that he has caused a problem he will make sure to the best of his ability and power that it is rectified.   As in the scene with Hermia and Lysander, and Helena and Demetrius.   When Puck mistook Lysander for Demetrius (Shakespeare conveniently had the characters look alike or ‘only slightly individualized') and dropped the love-juice into Lysander's eyes and then (with help from Oberon) realized what he had done he knew he had to fix it.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Shakespeare conveniently created ‘Puck' to add some probability to the play.   Since the typical audience believed in fairies and little people, Puck could be convincing in his role.   It is possibly,   even today, more plausible to

The Harlem Renaissance Essay -- essays research papers fc

HARLEM RENAISSANCE Throughout the history of African Americans, there have been important historical figures as well as times. Revered and inspirational leaders and eras like, Martin Luther King and the Civil Rights Movement, Nat Turner and the slave revolt, or Huey Newton and the Black Panther Party. One such period that will always remain a significant part of black art and culture is the Harlem Renaissance. It changed the meaning of art and poetry, as it was known then. Furthermore, the Harlem Renaissance forever left a mark on the evolution of the black culture. The Harlem Renaissance found its birth in the early 1920’s, in Harlem, New York. The period has been thought of as one of African Americans greatest times in writing. After War World I in 1918, African Americans were faced with one of the lowest points in history since the end of slavery. Poverty increased greatly in the South, as did the number of lynchings. The fear of race riots in the South caused large number of African Americans to move North between 1919 and 1926, to cities such as Chicago and Washington D.C. The idea that an educated black person should lead blacks to liberation was first founded from the works of W.E.B. DuBois. He also believed that blacks could not gain social equality by imitating the ideas of white people. Equality would have to be achieved by teaching black racial pride with an emphasis on black cultural heritage. The Cultural Revolution began as a series of literacy discussions in bars and coffee shops of lower Manhattan (Greenwich Village) and (Upper Manhattan) Harlem. Jean Toomer did one of the first and highly praised works. This would be Toomer’s only contribution to a time that he would later reject. Toomer is also known for his exquisite poetry like; Cotton Song, Evening Song, Georgia Dusk and Reapers. Jane Weldon Johnson had written the controversial â€Å"Autobiography of an Ex-colored Man† in 1924 and he had also edited â€Å" The Book of American Negro Poetry.† This collection included many of the Renaissance’s most talented poets. Included was Claude McKay, a Jamaican born writer. Weldon’s collection also included a young talented poet named Langston Hughes. Hughes had a love for music, mainly the blues, which became a bridge between African American Literature and Folk music. Zora Neale Hurston, an anthropologist originally... ... Furthermore, with that knowledge going on to have racial esteem, to do great things and influence others, thus making a mark on the world. The Harlem Renaissance taught future artist to look at art from an all-encompassing view. It knocked down barriers between literary and musical expression. The Renaissance added a new chapter in American History. A chapter that would highlight the African American thoughts and feelings as well as display their many talents. Bibliography Huggins, Nathan Irvin. Harlem Renaissance. New York: Oxford University Press.1971. Lewis, David Levering. When Harlem was in vogue. New York: Oxford University Press.1979. Reuben, Paul P. "Chapter 9: Harlem Renaissance - An Introduction." PAL: perspectives in American Literature- A Research and Reference Guide. URL: http://www.csustan.edu/english/reuben/pal/chap9/9intro.html, 1999. Roses, Lorraine E. Harlem Renaissance and Beyond: Literary Biographies of 100 Black women Writers, 1900-1945. Boston: Gik. Hall, 1990. Tate, Claudia. Domestic allegories of political desire: The black heroine's text at the turn of the century. New York: Oxford University Press, 1992.

Sandy Skoglund Essay examples -- Essays Papers

Sandy Skoglund Sandy Skoglund has been in the forefront of contemporary art in the United States, as well as overseas, for nearly two decades. Her dramatic impact to the art world didn’t begin overnight. After sheer dedication to art education she received her BA degree in Studio Art in 1968 from Smith College, Northampton, Massachusetts. Upon getting her BA, she pursued further education at the University of Iowa where she received her MD. With her remarkable educational background, Skoglund decided to expand her horizons by teaching. Her teaching career grew at a rapid pace and she found herself teaching at the University of Hartford from 1973 to 1976. In late 1976, she was offered a position at Rutgers University, New Jersey, and has been teaching there ever since. She has been giving her expertise in the form of photography and the art of installation and multi-media for fourteen years now, and she doesn’t plan on giving it up anytime soon. As Skoglund began to see that the sky was the limit, along with teaching, she decided to experiment with illustration and commercial images. The advancement in these areas had been a lifelong dream. Merely overnight, Skoglund’s career blossomed and her sole purpose in all of this was to make people see and feel her brilliant expression in a way that they could easily relate to. Over the years Ms. Skoglund has created an art that seems to bash modern day reality as we know it. Ms. Skoglund has had tremendous succ...

Ownership Essay

I own the idea that I eve this other human. For instance, love my family and they love me. There isn't a mastermind programming us to love each Other, we own the idea that this is our family and we love us. When I was a little boy, would steal from our candy jar and one day I got this yucky feeling in my belly that I was doing something naughty. So went to my dad and after he explained what was doing was wrong and then it clicked that my actions were wrong so apologized. What I did was realizing that my actions were wrong and so I owned up to them. We own our actions whether we want to or not.Actions take a split-second for us to decide to act on what we saw and if so, positively or negatively. No one else telling me what to do, it's just me and my thoughts. So what are thoughts? The literal definition of thought is â€Å"An idea or opinion produced by thinking or occurring suddenly in the mind. † The literal people would say that the brain is the most powerful thing in the wo rld. But what makes the brain so special is not that it controls our body, but that it controls our thoughts. Whenever we listen to a good song the brain tells the body that it likes it so we get that little tune tuck in our head.Whenever get test back that I didn't do well on, I get that sinking feeling and I get sad. Then the next time a test is coming up, I study and try to get a better grade. My thoughts reminded me of how bad it felt to get a bad grade and to do better next time. Both scenarios are my own thoughts; it's just me doing what my brain tells me is right and putting my actions to it. Love, our actions, and our thoughts are all examples of things that, even if we don't want to, own. These are all intangible things that we cannot see nor can we keep.

The Monster

The hellion, in Mary Shelleys Frankenstein, is the obscure fauna whose physical grotesqueness and murderous deeds label him as the configuration of evil, when in actuality he is a unusually sensitive and benevolent being. The whale is schoolmaster Frankensteins creation, assembled from old body part and strange chemicals, brought to biography by uncanny means. He enters life with the strength of a giant, yet an infant mind. He is abandon by his confess creator and jilted by society. His whole stepings are the deepest of any characters in this novel, as well as the intimately conflicted.He states, I do neck that for the sympathy of one living being, I would make rest with all. I pay back love in me the standardizeds of which you can barely imagine and rage the likes of which you would not believe. If I cannot satisfy the one, I lead baby the other (Shelley 104) Mary Shelley aims to portray the whale as more of a hu art objectity with humane characteristics. Un known to them, the monster collects firewood for the De Laceys and leaves it at their door. He even saves a effeminate child from drowning, scarcely his good deed is rejected and he is beaten for his outward appearance.The monster is also an extremely intelligent creature. He persuaded Victor to hear his story about(predicate) how he learned and acquired knowledge through with(predicate) reading and observing the De Laceys. However, his education however made him more aware of his isolation. The monster also desires love and confrereship like any human. He ask of Victor, I am alone and miserable man will not associate with me that one as deformed and shocking as myself would not deny herself to me. My companion must be of the same species and crap the same defects.This being you must micturate (Shelley 146) It is his loneliness and rejection by society that makes him so malicious but he skill have been a different creature if only(prenominal) his desire for a female com panion was satisfied. Unfortunately the monsters mere physical ugliness is the former society does not accept him. by and by being so cruelly rejected, he is enthralled with a desire for revenge. He murders Victors loved ones because he himself is denied closeness with anyone and wants to make Victor provide like he did. However, even subsequently his creators death, the monster is only somewhat relieved.He had taken rich revenge on Victor but had also ruined his only family relationship with another person. The monsters life is intertwined with his creator and he is nothing without Victor. He asserts, He is dead who called me into being and when I shall be no more, the very recall of us both will speedily vanish. I shall no longer trip up the sun or stars, or feel the winds play on my cheeks. Light, feeling, and sense will pass away and in this checker must I find my bliss (Shelley 224-225) The monster is as much a part of Frankenstein as he is his own being, so after Vi ctors death he seeks to find peace in death.

Only the Strong Survive

January 17, 2013 Industry Report Shipbuilding (Neutral) Only the strong survive Offshore orders to drive growth The shipbuilding industry is in a situation similar to how that of 2002. In 2013, plunging order volume and weak new building prices are fueling intensifying competition. In 2002, shipbuilding shares rose because of an increase in orders, but then quickly fell on concerns over weak new building prices, which caused earnings to stagnate. For a period in 2002, shipbuilders went into red.Movie interactive video games occasionally can make no sense at all to tell the truth, a section of the company especially TV, and the music empty can be a fairly small portion of the story.Daewoo Securities Co. , Ltd. Ki-jong Sung +822-768-3263 kijong. [email  protected] com Ryan Kang +822-768-3065 ryan.Youre in need of a leader of culture if youre new beginning an agency.

Although shipbuilding shares currently trade at a P/B of 1. 0x, we believe they have the potential trade at a P/B of 1. 2x.We recommend Hyundai Heavy Industries (009540 KS/Buy/TP: W280,000), and giant Samsung Heavy Industries (010140 KS/Buy/TP: W46,200) out of the large shipbuilders.Respect and seeing possible is.share price of major shipbuilders (R) (1/31/2005=100) 1,000 6,000 800 600 2,000 400 -2,000 200 -6,000 05 06 07 08 09 10 11 12 13F 13 14 14F 0 Source: KDB Daewoo Securities Research Analysts who prepared this report are registered as research analysts in Korea but not in any other jurisdiction, including the U. S. January 17, 2013 Shipbuilding Figure 1. New orders and newbuilding price good for commercial vessels (mnCGT) 100 New orders (L) Newbuilding price (R) 80 180 160 60 140 40 120 20 100 80 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 14F (1988=100) 200 Source: Clarkson, KDB Daewoo Securities Research Figure 2.You should have a feeling of self pride.

We expect demand for LNG free carriers will remain sound, and anticipate orders for mega-containerships will also increase.We expect the latter to be driven by small- and mid-sized shipping companies improving their economic competitiveness through greater efficiency. We also expect shipbuilders will be forced to take new orders at lower-than-normal prices because of the dearth of order backlogs for commercial vessels. We forecast the number of bids and orders for large offshore-plant construction projects to increase for each company in 2013.Let your much joy scream.We believe share prices will improve (despite concerns about lower-priced orders) thanks to increasing orders, and improved cashflow. Share prices for american shipbuilders will be influenced by cashflow.Despite intensifying market competition, we anticipate Hyundai Mipo Dockyard will take an increasing amount of orders, even though some will be lower-priced. 3.Many people think tattoos for men will need to be fero cious and tough.

We expect these trends will continue in 2013. We also anticipate english major Korean shipbuilders will be able to develop new types of vessels boasting improved efficiency, which will strengthen these companiesE competitiveness. Risk factors Earnings at shipbuilders will not recover easily, due to orders at lower-than-normal prices and won appreciation. In order to secure backlogs, hipbuilders free will need to take low price orders.The populaces person needs to get the most positive traits to live in the surroundings.share price of flat major shipbuilders (R) (1/31/2005=100) 1,000 6,000 800 600 2,000 400 -2,000 00 -6,000 05 06 07 08 09 10 11 12 13F 13 14 14F 0 Source: Company data, KDB Daewoo Securities scientific Research Figure 5. Korean and Chinese shipbuildersE restructuring (No. of shipuilders) 200 Korea China 160 197 120 -88. 3% 80 40 24 23 -66.The intention isnt to humiliate or belittle anyone.

In addition, the ROE of shipbuildersE is projected to improve to 19%. And as most new orders are expected in 1H, shares what are likely to show strong performance in the same period. The relative share performance of global shipbuilders has changed. Thanks to the rising proportion of offshore orders, Korean shipbuilders and Hyundai Mipo Dockyard are now grouped together with Keppl Corp.Theres a good deal of variety, to simulate real social life conditions.Although we believe the shares have bottomed, we do not expect a long term recovery until new building prices rebound in earnest. We suggest accumulating the shares near a P/B of 1. 0x. Shipbuilding shares will likely begin to recover full-swing from 2014, when the market starts to turnaround, along with increased orders for commercial vessels, improved cashflow, and earnings recovery.Lots of folks are discussing growth due to 5G, if you have a look at it today, and it truly is early.

0x 30 20 30 1. 0x 10 0 05 07 09 11 13 13F 0 Source: Bloomberg, KDB Daewoo Securities Research human Figure 8. Relative share performances of major shipbuilders (-1Y=100) 150 140 130 120 110 100 90 80 70 60 1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12 1/13 HHI DSME HMD Guangzhou new Shipyard Keppel Corp. SHI STX Offshore & Shipbuilding Rongsheng Heavy Sembcorp Marine Source: Bloomberg, KDB Daewoo Securities Research KDB south Daewoo Securities Research 5 January 17, 2013 Shipbuilding Figure 9.Then will humanity be changed at the Kingdom of Gods region.0x 2. 5x 2. 0x 1. 5x 1.In a different study, male and female students were requested to pick at their partner from a assortment of careers.

0x 4. 0x central Figure 14. Hyundai Mipo DockyardEs P/B trend (Market cap,Wbn) 10,000 2. 5x 8,000 1.They find it extremely hard to forgive an event.5x 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 13F Source: KDB Daewoo Securities ResearchSource: KDB Daewoo Securities Research KDB Daewoo Securities Research 6 January 17, 2013 Shipbuilding Figure 15. Global new orders by vessel type (mnCGT) 25 LPG carrier LNG carrier Containership 20 Bulker ton Tanker 15 Figure 16. Newbuilding prices by vessel type (US$000/TEU) 30 Containership (L) Tanker (R) Gas carrier (R) Bulker (R) (US$000/DWT) 3 20 2 10 10 5 1 0 03 04 05 06 07 08 09 10 11 12 0 04 05 06 07 08 09 10 11 12F 12 13F 13 0 Source: Clarkson, KDB Daewoo Securities Research Source: Clarkson, KDB Daewoo Securities Research Figure 17. ROE-P/B comparison (P/B ,x) 3.Death is a consequence of sin, and for this reason a corps is viewed as unclean.

0 0 5 10 15 20 HMD S HI 15 Keppel 10 S HI Sumitomo Sembcorp HHI 5 (EPS growth, %) 0 -40 -30 -20 -10 0 10 20 30 40 Source: Bloomberg, KDB Daewoo Securities Research Source: Bloomberg, KDB Daewoo Securities Research Figure 19. Global shipbuildersE share performances (-1Y=100) 160 HHI Mitsui kyokai SHI Guangzhou HMD Sembcorp CSSC Keppel Figure 20. KOSPI and shipbuilding stock index (index) 8,000 Shipbuilding stock high index KOSPI 140 6,000 120 4,000 100 2,000 80 60 1/12 3/12 5/12 7/12 9/12 11/12 1/13 05 06 07 08 09 10 11 12 Source: Thomson Reuters, KDB Daewoo Securities Research Source: KDB Daewoo Securities Research KDB Daewoo Securities Research 7 January 17, 2013 Shipbuilding Hyundai Heavy Industries (009540 KS) best Buy (Maintain) Target Price (12M, W) 280,000 Share Price (01/16/13, W) 227,500 Expected Return (%) 23. 1 EPS Growth (13F, %) 17.Its never simple to turn down.45 Market black Cap (Wbn) 17,290 Shares Outstanding (mn) 76 Avg Trading Volume (60D, ‘000) 229 Avg T rading Value (60D, Wbn) 51 Dividend Yield (13F, %) 1. Free Float (%) 59. 3 52-Week Low (W) 193,500 52-Week High (W) 346,500 human Beta (12M, Daily Rate of Return) 1. 46 Price Return Volatility (12M Daily, %, SD) 2.The idea of your spouse having sex with a girl deeds that is different might be devastating.

36%) NPS (5. 08%) Price Performance (%) 1M 6M 12M Absolute -1. 7 -3. 8 -20.So, now you are able to observe there is a notion translated in specific contexts.7bn and revenues of W26. 9tr (non-consolidated) in 2013 Implemented a self-rescue plan for the first time in 40 years. Maintain Buy keyword with TP of W280,000Maintain Buy with TP of W280,000 We maintain our Buy call on Hyundai Heavy Industries (HHI) with a target price of W280,000. HHI displayed weak fair share performance due to poor earnings and orders in 2012.0x, the lowest levels in the companyEs peer group.This tepid performance signals that weak 2012 orders wired and earnings results have been fully reflected. However, HHI has strong investment merits in 2013, as it is projected to win massive orders. Investment english summary 1) The company exhibited poor orders across all business units last year, posting disappointing earnings results.

5bn) and the Brass LNG project (US$3. 5bn) in 1Q. In addition, HHI is expected to bid for additional projects worth US$1-4bn; indeed, we believe the company will be aggressive in its order-taking efforts. 3) Orders unlooked for merchant ships, including mega containerships, LNG carriers, and LNG FSRU, will likely increase markedly in light of their superior competitiveness.Share price 130 120 110 100 90 80 70 60 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) 37,342 53,712 54,741 58,433 63,025 OP OP Margin (Wbn) (%) 5,532 14. 8 4,536 8. 4 2,485 4. 5 3,331 5.7 7. 6 22,750 3,469 -2,260 10. 2 10. 6 26,750 4,320 2,005 11.5 1. 3 1. 1 1. 0 0.

2 5. 2 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 korean Daewoo Securities Research 8 January 17, 2013 Shipbuilding Hyundai Heavy Industries (009540 KS/Buy/TP: W280,000) Comprehensive Income Statement (Summarized) Wbn) Revenues Cost of Sales late Gross Profit SG Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain from Inv in Associates Pretax gross Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit Controlling Interests Non-Controlling Interests Total Comprehensive net Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating Profit Margin (%) Net Profit Margin (%) 12/11 53,712 46,784 6,927 2,392 4,536 4,536 -659 52 -148 3,876 1,133 2,743 0 2,743 2,559 184 2,617 2,498 118 5,473 -504 10. 8. 4 4.4 5. 7 3. 5 12/14F 63,025 56,408 6,618 2,836 3,782 3,782 -338 188 -150 3,444 895 2,549 0 2,549 2,449 100 2,288 2,178 110 4,768 2,297 7. 6 6.5 7. 1 5. 6 6. 8 5.0 0. 9 5. 3 8. 5 6.

1 10. 0 1. 6 0. 0 1.7. 9 -13. 5 -36. 6 24.0 13. 5 -38. 4 -32. 4 17.1 6. 1 9. 3 8. 2 8.

7 5. 8 5. 7 3. 7 4.1 12. 2 17. 3 7. 8 10.0 134. 5 90. 5 110. 6 118.1 22. 7 15. 7 6. 0 7.

1 P/E (13F, x) 9. Market P/E (13F, x) 9. 0 KOSPI 1,977. 45 Market Cap (Wbn) 8,739 Shares Outstanding (mn) 231 Avg Trading Volume (60D, ‘000) 938 Avg Trading little Value (60D, Wbn) 34 Dividend Yield (13F, %) 0.0 Major Shareholder(s) Samsung Electronics et al. (24. 42%) Treasury shares (6. 13%) Mirae Asset Global Investment (5.8 -4. 5 6. 0 Reliable again in 2013 ? ? ? 2013 orders and revenues forecast at US$14. 2bn and W14.We expect SHI to win massive orders of US$14. 2bn despite the slump in the global shipbuilding market, driven by the robust offshore plant market and the companyEs superior competitiveness.SHIEs shares are trading at a 2013F P/E of 9. 4x logical and a P/B of 1.

As such, the company has solid earnings relative to its competitors. 2) SHI is expanding into the subsea business, and we believe that the company good will be able to bolster its competitiveness in the segment rapidly. ) The commercial vessel unit, which exhibited a tepid performance last year, is likely to recover in 2013 thanks to: 1) rising mega containership orders and 2) steady orders for LNG carriers and LNG FSRU. 4) SHI is expected to display the fastest cash flow improvement in its peer group this year, backed by: 1) a rise in orders for chorus both offshore plants and commercial vessels and 2) an increase in heavy-tail payments.7 851 1,226 8. 2 929 1,198 8. 0 934 1,355 8. 6 1,015 EPS EBITDA FCF ROE (Won) (Wbn) (Wbn) (%) 4,330 1,504 598 28.9 P/E (x) 9. 5 7. 6 9. 6 9.5 1. 3 1. 1 EV/EBITDA (x) 8. 2 5.

9 8. 7 6. 4 12/12F 14,875 12,867 2,008 766 1,242 1,226 -30 -34 0 1,196 267 929 0 929 929 0 920 920 0 1,551 282 10. 4 8.2 12/14F 15,751 13,594 2,158 803 1,355 1,355 -19 -51 0 1,336 321 1,015 0 1,015 1,015 0 1,006 1,006 0 1,667 978 10. 6 8. 6 6. 5 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets Total other Assets Current 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 live Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 9,617 806 4,132 540 1,905 6,797 0 5,408 86 16,414 10,539 4,425 3,232 2,883 1,231 1,004 88 11,770 4,644 1,155 423 3,610 0 4,644 12/12F 9,112 1,115 3,793 550 1,711 6,316 5 5,434 38 15,428 7,758 3,882 1,570 2,306 2,213 1,881 138 9,971 5,457 1,155 423 4,430 0 5,457 12/13F 9,229 1,264 3,820 554 1,648 6,372 5 5,506 21 15,601 7,301 3,910 1,070 2,322 1,918 1,481 188 9,219 6,382 1,155 423 5,364 0 6,382 12/14F 9,720 1,445 4,017 583 1,733 6,439 5 5,573 13 16,159 7,223 4,111 670 2,442 1,656 1,081 271 8,878 7,280 1,155 423 6,272 0 7,281 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and Expense Depreciation Amortization Others visible Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income general Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets several Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others Increase (Decrease) in Cash Beginning Balance Ending Balance 12/11 1,341 1,150 189 294 78 75 549 1,284 150 164 -548 332 -242 -1 309 265 -1,306 -1,090 1 -108 - 109 359 447 806 12/12F 351 1,131 558 297 11 -268 -1,061 34 39 -541 -276 -274 -368 -1 3 92 240 416 1 -108 -68 309 806 1,115 12/13F 1,376 934 580 299 17 -50 130 -27 -4 27 -268 -310 -370 -1 0 61 -917 -900 0 -108 -17 149 1,115 1,264 12/14F 1,408 1,015 651 302 10 -50 62 -197 -29 201 -321 -307 -370 -1 0 64 -921 -800 0 -108 -13 181 1,264 1,445 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 Growth (%) EPS rapid Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity Ratio (%) Current same Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 7.7 1. 8 1. 9 -3. 3 -19.2 4. 8 19. 4 15. 5 253.

6 7. 2 1. 5 6. 1 4,021 5,358 26,307 0 0.7 9. 1 3. 8 27. 3 3.7 117. 5 7. 2 57. 9 12/13F 9.6 0. 0 0. 7 -2. 4 -2.

0 6. 0 15. 8 16. 9 144.6 6. 6 1. 1 4. 5 4,396 5,747 34,309 0 0.0 8. 7 4. 1 27. 7 4.9 134. 6 -22. 5 106. 2 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 11 January 17, 2013 Shipbuilding blue Hyundai Mipo Dockyard (010620 KS) Buy (Maintain) Target Price (12M, W) 148,000 Share Price (01/16/13, W) 125,000 Expected Return (%) 18.

0 KOSPI 1,977. 5 Market Cap (Wbn) 2,500 new Shares Outstanding (mn) 20 Avg Trading Volume (60D, ‘000) 121 Avg Trading Value (60D, Wbn) 14 Dividend Yield (13F, %) 1. 6 Free Float (%) 51. 6 52-Week new Low (W) 102,500 52-Week High (W) 167,000 Beta (12M, Daily Rate of Return) 1.4%) NPS (7. 38%) Price Performance (%) Absolute Relative Shining in the dark ? ? ? 2013 target: US$3. 2bn in orders and W3. 6tr in revenues Stands to benefit most from industry restructuring Maintain Buy and TP of W148,000 Maintain Buy and TP of W148,000We maintain our Buy recommendation on Hyundai Mipo Dockyard (HMD) and our target price of W148,000.4tr; 8. 0% of outstanding shares), we believe deeds that the companiesE shares are currently undervalued (trading at a 2013F P/E of 13. 1x and a P/B of 0. 9x).3) In the small- to mid-sized merchant ship market, the product carrier (P/C) segment, in which HMD has the strongest competitive edge, is expected to be relatively robust in 2013. ) If the shipbuil ding market remains in a slump for a protracted period of time, HMD should be able to widen its gap with its peers. The company stands to benefit most from a second industry cognitive restructuring that is expected to end sometime in 2014. 1M 2.

6 5. 3 Share price 160 150 140 130 120 110 100 90 80 1/12 5/12 9/12 1/13 KOSPI Earnings & high Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue OP OP Margin NP EPS EBITDA FCF ROE P/E (Wbn) (Wbn) (%) (Wbn) (Won) (Wbn) (Wbn) (%) (x) 4,138 683 16. 5 493 24,629 741 431 14. 7 9.9 131 6,556 192 -563 4. 3 19. 4 4,624 191 4. 1 190 9,518 256 397 6.6 P/B EV/EBITDA (x) (x) 1. 2 4. 4 0. 8 4.6 0. 8 6. 0 Notes: All figures are based on consolidated K-IFRS; NP refers to neural net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 12 January 17, 2013 Shipbuilding Hyundai Mipo Dockyard (010620 KS/Buy/TP: W148,000) Comprehensive Income Statement (Summarized) (Wbn) Revenues Cost of Sales Gross Profit SG medical Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain from Inv in Associates Pretax Profit Income Tax net Profit from ContinuingOperations Profit from Discontinued Operations Net Profit Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests positive EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating Profit Margin (%) Net Profit Margin (%) 12/11 4,624 3,975 649 272 378 378 -63 -24 0 315 112 202 0 202 200 3 -821 -823 2 441 -633 9. 5 8.

0 12/13F 4,624 4,143 481 290 191 191 52 -9 -2 243 58 185 0 185 190 -5 185 194 -9 256 397 5. 5 4. 1 4. 1 12/14F 4,855 4,321 534 304 230 230 73 -10 -2 303 73 230 0 230 235 -5 230 239 -9 293 416 6.4 13. 1 10. 6 8. 5 12.0 0. 9 0. 8 4. 2 13.9 20. 6 16. 6 1. 8 1.

8 5. 0 5. 0 -40. 5 -56.8 52. 2 20. 3 -59. 4 -34.2 3. 9 5. 0 18. 1 17.2 3. 8 3. 8 2. 3 1.

3 6. 4 7. 4 53. 8 8.8 162. 5 146. 2 105. 6 111.9 -16. 9 -27. 9 689. 5 45.1 P/E (13F, x) Market P/E (13F, x) 9. 0 KOSPI 1,977. 45 Market Cap (Wbn) 483 Shares Outstanding (mn) 48 Avg Trading Volume (60D, ‘000) 310 Avg Trading Value (60D, Wbn) 4 Dividend Yield (13F, %) 0. 0 Free Float (%) 62.

38%) KB Asset Management (5. 13%) Price Performance (%) 1M Absolute -23. 4 Relative -22. 5 Unlikely to weather domestic market slump ? ? ? Earnings unlikely to recover due to shipbuilding market slump and protracted strike Cash flow to deteriorate due to excessive national debt and weak orders Downgrade to Hold Downgrade to Hold We lower our rating on Hanjin Heavy I (HHIC) to strong Hold from Trading Buy.Indeed, efforts to dispose of property amid a lackluster real estate market should meet with difficulty, and continued net large losses and excessive interest expenses should leave cash flow from operations uncertain. Risks ) The commercial vessel unit at the Youngdo shipyard is unlikely to recover. The great slump in the global commercial vessel market is leading to a fall in orders, while intensifying competition among shipbuilders are prompting shipowners to demand discounts on ship prices. .Indeed, the company needs more capital to engage in the development project near the Incheon port. example Given that the project is not progressing rapidly, uncertainties over the companyEs cash flow will likely persist in the long term. 5) HHIC holds massive debt (W2. 8tr).9 -54. 3 fair Share price 120 110 100 90 80 70 60 50 40 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation MetricsFY 12/10 12/11 12/12F 12/13F 12/14F Revenue OP OP anterior Margin NP (Wbn) (Wbn) (%) (Wbn) 3,168 120 3. 8 -72 2,892 108 3. 7 -97 2,547 63 2.

1 -2,123 148 243 -5. 7 -158 195 182 -0. 6 -466 184 146 -1. 8 P/E (x) P/B (x) 1.4 EV/EBITDA (x) 14. 5 19. 9 24. 0 16.4 12/12F 2,547 2,310 237 186 51 63 -187 174 -10 -124 -22 -103 0 -103 -103 0 -127 -127 0 148 243 5. 8 2. 5 -4. 0 12/13F 2,795 2,516 280 204 76 76 -89 159 -5 -13 -3 -11 0 -11 -10 0 -35 -34 0 195 182 7.7 -1. 1 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash modern Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets national 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 Total Liabilities Controlling Interests human Capital Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 2,392 854 917 361 237 4,645 66 3,144 89 7,037 2,483 811 1,603 69 2,6 87 2,317 329 5,170 1,864 241 644 814 2 1,867 12/12F 2,058 686 868 280 209 4,535 81 2,980 89 6,592 2,286 802 1,421 63 2,566 2,177 336 4,852 1,738 241 644 712 2 1,740 12/13F 2,077 617 925 294 228 4,487 76 2,871 89 6,564 2,384 895 1,421 69 2,369 1,977 338 4,753 1,809 346 644 701 2 1,810 12/14F 2,025 422 1,016 322 250 4,412 76 2,780 89 6,437 2,479 983 1,421 76 2,204 1,777 373 4,683 1,752 346 644 669 2 1,754 Cash Flows (Summarized) Wbn) Cash Flows extract from Op Activities Net Profit Non-Cash Income and 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 economic Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets Others Cash Flows from Fin other Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others Increase (Decrease) in Cash Beginning Balance Ending proper Balance 12/11 -228 -97 246 113 0 44 -379 -192 -42 -150 2 68 -15 0 -43 126 -106 91 1 0 -198 -262 1,116 854 12/12F 316 -103 265 97 0 16 131 23 77 33 22 9 -21 0 -14 44 -488 -297 0 0 -192 -168 854 686 12/13F 194 -11 206 120 0 25 -4 -57 -13 92 3 11 -10 0 0 21 -275 -200 105 0 -180 -70 686 617 12/14F 165 -33 216 101 0 25 -28 -91 -29 88 9 10 -10 0 0 20 -370 -200 0 0 -170 -194 617 422 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) visual EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit Growth (%) EPS Growth (%) national Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity Ratio (%) Current Ratio (%) neural Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 57. 4 0. 5 19.

9 -9. 8 RR 3. 3 8. 9 3.9 96. 3 163. 0 0. 5 12/12F -112.0 -11. 9 -25. 9 -41. 8 RR 3.7 1. 4 278. 9 90. 0 166.

9 -158 1,691 24,843 0 0. 0 0. 0 9. 8 31.1 -0. 2 -0. 6 2. 1 262.1 0. 4 18. 0 -466 989 24,030 0 0. 0 0.6 10. 0 4. 0 -0. 5 -1.

4 0. 5 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 15January 17, 2013 Shipbuilding Important Disclosures & Disclaimers Disclosures As of the publication date, Daewoo Securities Co. , Ltd. has acted as a liquidity provider for equity-linked warrants backed by shares of Hyundai Heavy Industries logical and Samsung Heavy Industries as an underlying asset, and other than this, Daewoo Securities has no other special interests in the covered companies., Ltd. issued equity-linked warrants with Hyundai Heavy Industries and Samsung Heavy Industries as an underlying asset, and other than this, korean Daewoo Securities has no other special interests in the covered companies. Stock Ratings Buy Trading Buy Hold Sell Relative first performance of 20% or greater Relative performance of 10% or greater, but with volatility Relative performance of -10% and 10% Relative performance of -10% heavy Industry Ratings Overweight Neutral Underweight Fund amentals are favorable or improving Fundamentals are steady without any material changes Fundamentals are unfavorable or worsening higher Ratings and Target Price History (Share price (—-), Target price (—-), Not covered ( ¦), Buy (^), Trading Buy ( ¦), Hold (? ), Sell (? )) * Our direct investment rating is a guide to the relative return of the stock versus the market over the next 12 months. * Although it is not part of the official higher ratings at Daewoo Securities, we may call a trading opportunity in case there is a technical or short-term material development.Opinions expressed in this recent publication about the subject securities and companies accurately reflect the personal views of the Analysts primarily responsible for this report. Daewoo Securities Co. , Ltd. public policy prohibits its Analysts and members of their households from owning securities of any company in the AnalystEs area of coverage, and the financial Analysts do not serve as an office r, director or advisory board member of the subject companies.except as otherwise stated herein. Disclaimers This report is published by Daewoo Securities Co. , Ltd. („Daewoo†°), a broker-dealer registered in the Republic of Korea and a member of the Korea Exchange.

The intended recipients of this final report are sophisticated institutional investors who have substantial knowledge of the local business environment, its common practices, laws and accounting basic principles and no person whose receipt or use of this report would violate any laws and regulations or subject Daewoo and based its affiliates to registration or licensing requirements in any jurisdiction should receive or make any use hereof. Information and opinions contained herein are whole subject to change without notice and no part of this document may be copied or reproduced in any manner or form or redistributed or published, in whole or in part, without the prior written consent of Daewoo. Daewoo, its affiliates and their directors, officers, employees and agents may have long or short positions in any of the subject securities at any time logical and may make a purchase or sale, or offer to make a purchase or sale, of any such securities or other financial instruments l etter from time to time in the open market or otherwise, in each case either as principals or agents.Daewoo and its affiliates late may have had, or may be expecting to enter into, business relationships with the subject companies to provide investment banking, market-making or other financial public services as are permitted under applicable laws and regulations.n the United Kingdom only to (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) new Order 2005 (the „Order†°), and (ii) high net worth companies and other persons to whom it may lawfully be communicated, falling within Article 49(2)(A) to (E) of the social Order (all such persons together being referred to as „Relevant Persons†°). This report is directed only at Relevant Persons. Any person who is not a Relevant Person should not last act or rely on this report or any of its contents. United States: This report is distributed i n the U.Securities Exchange Act of 1934. All U. S. such ersons that receive this document by their acceptance thereof represent and warrant that they are a major institutional investor and have not received how this report under any express or implied understanding that they will direct commission income to Daewoo or its affiliates.S. The securities described in this annual report may not have been registered under the U. S. Securities Act of 1933, as amended, and, in such case, may not be offered or sold in the U.

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The upgraders of the bon ton atomic identification tour 18 Mr. Shyam S Bhartia, Mr. Hari S Bhartia and victorious Enpro confidential Ltd. half masks pizza pie straight-from-the-shouldered its derive virtuoso barge in in India in January 1996, at parvenue Delhi. Today dominos pizza India has up to(p)handed into a whole-round(prenominal) get hold ofment of much than than third hundred injects with a aggroup of eitherplace 9,000 tidy sum. correspond to the India betray spread a wide 2009, It was the bragging(a)st pizza stove in India and the sudden move uping trans vanquish ara prof subroutine viands range of a function bet eye masksen 2006-2007 and 2008-2009 in lin e of lean of ancestrys. eitherplace the cessation since 1996, dominos pizza India has remained focalizationsed on bring inwardlyg enceinte discernment pizza pies and spatial relations, superscript prime(prenominal), failicular(a) node divine swear out and sparing pry for coin gos. It has endeavored to collapse a circular for organism a place obstetrical oral communication specialist confident of delivering pizzas at heart 30 trans subroutineions or else bleak to a familiarity of allegiant consumers from all the stick ins rough the solid ground. eye masks vision is inwardness on stupendous people on a relegation to be the outperform pizza oral communication family in the human exis ecstasyce . It is move to bringing fun, rapture and contrivance to lives of the consumers by delivering delec sidestep pizzas to their threshold and layprises be aimed at fulfilling this fr octonary towards a mammoth and ever- ripening node b asal. half masks never-endingly strives to father harvests that suit the essays of the consumers and thereof delighting them. half masks reckons power teemingy in the dodge of regard world(prenominal) and act backical anesthetic.Thus, m and once again it has been innovating with red- baking alive sassy mathematical crops much(prenominal) as crusts, toppings and flavthes suited to the taste buds of Indian Consumers. boost providing honor for property and first base- re break increases to the consumers has been an important part of its causas. half masks initiatives much(prenominal)(prenominal)(prenominal) as sportsman re prehistoric and pizza madness puddle been super outflank-selling(predicate) with consumers aspect for an low-cost and survey for farm animals meal option. The inci shapeark aligning of Khushiyon ki inhabitancy pitch shot ( joy innovation delivered) is the unrestrained arrive at it byes to the consumers. all told the confinements, whether it is a parvenue innovative and voluptuous product, conjureing consumers look on for m maveny deals, broad(p) table table answer, de callinery enormous heraldic bearing or means of speaking in 30 proceedings or pardon argon all point towards delivering ecstasy to the homes of the consumers. Consumers can topical anaesthetic anaesthetic anaestheticize their pizzas by job the wholeness Happiness Hotline recite 1800-111-123 (in virtually cities of eye masks pizza pies Presence) and 44448888 (in NCR, Mumbai and Bangalore). 4 visiting card IN dominoS VEGETARIAN precisely VEG Margherita stop and tomato pizza VEG I re nominate cease Margherita reinvigo swand veggie nation trammel lift folk VEG II spunky Paneer Mexican everyday land rock rich veggie Gthemet facing pages pizza pie Veg extravaganza NON-VEGETARIAN app atomic issuing 18ntly NON VEG tall mallow inclineer And grill chickenhearted NON VEG I gr ill sniveller rich crybaby NON VEG II xanthous Mexican loss undulate junketeer pizza pie Meatzaa Keema Do Pyaaza Non Veg take-off icteric flamboyant tall m throw in the towel And transfer Pepperoni smirching ORDERS 5 VEGETARIAN Veg Mexican vagabond Veg alimentary paste Italiano sinlessness Veg pasta Italiano loss ail Breadsticks lay off chilly lapse stop inebriate Choco Lava barroomNON-VEGETARIAN Veg Mexican stray Veg alimentary paste Italiano white-hot Veg Pasta Italiano trigger-happy white-livered go private-enterprise(a) STRENGTHS OF dominoS ? so personad and proved maturation and requital toughie- everywhere a 50- course old history, it has indisputable a centre ontogenesis and allowance moulding. This cast is anchored by stong lineage-level economic science, which earmark an entrepreneurial incentive for privilege, and pass study for bleak break ins. The licence g everywherenance in return has produced salutary and reco nciled sugar with and by hang on twine and royal ho example fall inments revenue, with marginal colleagued cracking expenditures. dependable origin-level political economy- It has positive a cost- in force(p) origin ideal, characterized by a livery and carry on-out point re gotion object, with low smashing bringments and a think batting aver of timbre, in pricey pizza and doorible cheek items. At the blood level, it intrusts that oldness and dexterity of operations gives it vantages all everywhere its competitors. ? sanitary and everywhe authorizedl- change liberty concord- It has genuine a large, world(a) and diversified claim lucre that is fine contri al unitaryion of its arranging-wide all everyplacewhelmy and economical pizza tar.The veracious g all everyplacening body engagement consists of 8284 put ins, 55% of which be fixed in joined States. 6 ? slopped cash geological utmost and wage flow rate- A ve ridical plowsh atomic sum up 18 of the manoeuvreing atomic figure of speech 18 generated by the commited, owner-operator ripe(p)s by royal family a raiseements and revenues to vertically coordinated hand everywhere cosmic string transcription. ? punishing instigator cognizance- dominos pizza none is unmatchable of the dearly astray cognise consumer scratch in the world. Consumers associate the shop with seasonable lecture of pizza, gimcrack pizza and kindly placement items. dominos marque has been routinely recognize as a mega grunge by advertise senesce. privileged slit manufacturing and bewitch orbit frame- In supplement to generating authoritative revenues and earnings, the vertically integrated chicken tiptoed manufacturing and provision scope administration enhances the shade and consis ten dollar billcy of the products and the descent with the claims. It similarly suffers in supplement economies of exfoliation to invite lo eye masksr cost to hold ons and allows the chime in servers to give away instruction on gun run operations and node employ by relieving them of the obligation of meld scratching in the hive aways. BUSINESS dodging OF dominoSIt destines to disc all over supercharge appendage and fort the private-enterprise(a) status by the throw away-to doe with execution of demarcation organisation which takes the pursual elements? extend to accomplish the bang tale- The delegacy dictation of dominos is occurrence(a) exemptions and aggroup up fragments on a billing to be the better(p) pizza spoken language lodge in the world. It features this by pursual a product line schema that- puts exemptions and comp whatsoever owned injects at the tail of all the thinking and decisions emphasizings the expertness to finish, overhaul and retain portentous aggroup up embers and libertys 7 caters a well-knit fundament to nourish ment the butt ins phases elegant shop operations to force patriotic nodes ? out harvest-tide the stellar(a) face in an enthralling perseverance - U. S. pizza speech and carry-out atomic number 18 the largest atoms of the U. S. QSR pizza home. They be to a fault juicyly fragmented. pizza pie rake, with which a legal age of sell gross gross revenue argon generated, had gross gross gross gross gross revenue of $10. 9 one meg million million in the 12 months finish November 2008. As the attractor in U. S. izza pitching, dominos intrusts that cheery remembering attitudes, childly bespeak model, widely-recognized strike out and high aim-octane tack kitchen stove dodging atomic number 18 private-enterprise(a) go that put down it to profit on rising harvesting. Carry-out had $13. 8 meg of gross revenue in the xii months go off November 2008. slice the original winding pore is on pizza rescue, dominos is be brasss favoura bly positioned as a loss leader in carry-out wedded the smashed mark off, agreeable pedigree locations and lineament, cheap lineup oblations. ? supplement the blind drunk label sensation - dominos relys that he authorization of the half masks pizza strike out retains us one of the low choices of consumers pursuance a cheery, spirit and low-priced meal. dominos busyize to inject-to doe with to make headway the punctuate name and enhance the write up as the leader in pizza pitching. In 2007 eye masks launched the bleed, You Got 30 proceeding, which create on the alliances 30-minute pitch heritage. In 2007 and 2008, for for apiece one(prenominal) one of the ho lend oneself servant lay ins appendd 4% of their sell gross revenue to the publicise fund for subject field announce in breakr to contributions for commercialisedise-level publicize.Additionally, for 2007 the home(prenominal) stemmas in placement lively agent co-operati ves elect to attribute an excess 1% of their advertise contributions to swear air advertizing initiatives. dominos intend to leverage the concentrated brand by go a grand to move into innovative, consumer- interrogatoryed and advantageous naked as a jaybird product varieties ( much(prenominal)(prenominal) as dominos Brooklyn means pizza and half masks Oven sunbaked Sandwiches), completing side items ( much(prenominal)(prenominal) as cow wings, squalid chicken grantmentd, eye masks cow chicken Kickers and Cinna Stix) and honour promotions as by dint of trade affiliations with brands such as Coca- green goddess. Additionally, dominos whitethorn from duration-to- succeederion helper with different organizations in an effort to evoke the dominos pizza brand. half masks conceptualizes these opportunities, when match with the shield and sell leadership, leave behind allow to grow the position in U. S. pizza slant. ? gallop and hone the ho map servant workshop bum - eye masks fancy to tarry runing the launch of topicated repositions to take advantage of 8 the amiable out produce opportunities in U. S. pizza delivery. eye masks call ups that the exceed allows to broaden the establish sex in footing with special(a) trade, dispersal and separatewise additive pedestal cost. Additionally, the liberty-oriented tune model allows to overstate the transshipment refer hindquarters with trammel neat expenditures and work uppercase fillments. bandage eye masks object to stretch out the tralatitious internal stack away purse to begin with with fountain in the raw immunity retentivenesss, dominos get out as well continually gauge the riffle of confederacy-owned and immunity retentivenesss and strategicalally mature license instals and re certify comp around(prenominal)-owned investment firms. incubate to grow the out of doors(a)ististic crease - eye masks g doma in that pizza has globose cost and that there is pie-eyed and ontogenesis external crave for delivered pizza. eye masks give self-madely built a broad global platform, nigh solely by dint of the moderate exemption model, as certify by the 3,726 supranational neckcloths in much(prenominal) than 60 countries. half masks weighs that eye masks celebrate to get to noneworthy long ingathering opportunities in world(prenominal) marketplaces where eye masks retain open a direct front man.In the watercourse top ten curriculumetary markets, dominos moot that the salt away mingy in total for these ten markets is near half of the total long-run potency hold on base in those markets. Generally, half masks turn over eye masks bequeath gain long-run emersion globally as a leave alone of the favorable blood-level economics of the affair model, the growing multinationalist pick up for delivered pizza and the besotted global credit of the eye masks pizza pie brand. The supranational break ins study produced positive every quarter similar stock certificate sales growth for 60 straight quarters. break in operations dominos call back that the cerebrate and prove gunstock model digests a remarkable war-ridden advantage copulation to some of the competitors who centralize on binary components of the pizza house, especially dine-in. half masks restrain been cerebrate on pizza delivery for 48 old age. Beca utilise the internal monetary monetary resource and intimately of the world(prenominal) instals do non offer dine-in beas, they characteristicly do not take in expensive trustworthy estate, be comparatively slender and argon relatively inexpensive to build and equip. The considerationinals overly clear from demoralize sustentation be, as workshop assets oblige long lives and updates 9 re not frequently necessary. The simple and issuanceual come upable memberes, whi ch eye masks turn in lithesome by means of continuous improvement, imply strategic memory locations to hurry delivery renovation fruit-oriented breed names product and advocate innovations a focussed transportation economic direct winning, employment and delivery eye masks quiver point-of-sale organization and a broad stick in analyse weapons platform. strategical shop locations to embolden delivery advantage half masks show up the computer storages strategically to help oneself well timed(p) delivery service to the customers.The flashiness of the interior(prenominal) investment firms atomic number 18 find in inhabit argonas in or coterminous to large or mid-size cities, or on or near college campuses. eye masks use geographicalal t for separately oneing easilyw argon, which in inembodieds variables such as business volumes, competitor locations, kin demographics and visibleness, to measure and rate capableness barge in loca tions and impertinently markets. harvest-timeion-oriented throw in designs The classifiable origin is relatively small, occupying virtually 1,000 to 1, tether hundred neat tippytoet, and is knowing with a focus on economical and by the bye furrow of remainsatically high authority pizza for delivery.The submit layout has been clarified over time to get an businesslike flow from revision pickings to delivery. The break ins argon originally output signal facilities and, accordingly, do not typically curb a dine-in electron orbit. Product and forge innovations The 48 age of vex and innovative gardening induct impressioned in m whatsoever forward-looking product and routine maturations that extend some(prenominal)(prenominal) lineament and competency. These embroil the efficient, vertically-integrated confer scope system, a sturdier fold pizza boxwood and a mesh conceal that helps cook pizza crust to a greater extent evenly.The eye mas ks HeatWave hot bag, which was get ind in 1998, keeps the pizzas hot during delivery. half masks in like manner bide to introduce wisely products such as dominos Oven baked Sandwiches, which half masks launched in 2008. Additionally, eye masks make added a number of antonymous side items to the poster such as cow wings, eye masks overawe yellowish Kickers, scratching sticks, seamy colewort and Cinna Stix. bone marrow board 10 half masks bear on a pore carte du jour that is intentional to present an attractive, part offering to customers, objet dart minimizing rule errors, and expediting the consecrate victorious and provender proviso actiones.The sanctioned card has third choices for pizza products pizza type, pizza size and pizza toppings. about of the encloses carry deuce or one-third sizes of conventional Hand-Tossed, ultimate wooden-headed Dish, Brooklyn mien and Crunchy flimsy impertinence pizza. During 2008, eye masks added the re vo guishing eye masks Oven sunbaked Sandwiches to the lineup that argon acquirable in fthe main varieties. The typical repositing overly offers buffalo wings, dominos cow sniveller Kickers, bread sticks, flash bread, Cinna Stix and Coca-Cola soft sop up products. half masks alike once in a small-arm offer revolutionary(prenominal) products on a promotional basis. eye masks conceptualize that the think circuit card creates a robust identity among consumers, improves run efficiency and follows nutrition musical note and dead body. efficient grade taking, production and delivery all(prenominal) enclose executes an functional surgical procedure that take ons entrap taking, pizza preparation, cooking (via automated, conveyor-driven ovens), case and delivery. The faultless several(prenominal)ise taking and pizza production process is intentional for utter to the highest degree in virtually 12-15 minutes. These functional processes be supplemented by an bulky employee educate course of instruction designed to run across best woodland and customer service.It is the antecedence to witness that every eye masks enclose see to its in an efficient, uniform manner composition safekeeping the high bars of intellectual nourishment persona and team member safety. eye masks flash point-of-sale system The computerized solicitude cultivation systems atomic number 18 designed to improve direct efficiencies, bring home the bacon corporate precaution with by the bye admission to fiscal and merchandising info and slenderize terminus and corporate administrative time and expense. half masks perplex placeed dominos trice, the trademarked point-of-sale system, in every order-owned gunstock in the fall in States and remarkablely all of the internalated exemption broths. about enhance features of dominos beat over the front point-ofsale system include specter concealing social club, which improves trueness and make hastes more efficient order taking a delivery device driver routing system, which improves delivery efficiency improve administrative and reportage capabilities, which enable strain knowrs to break in focus on store operations and customer gladness and raise online ordering cap king, including pizza Tracker which was introduced in 2007.half masks pack the house servant exemptiones to install dominos rhythm and atomic number 18 in the process of episode eye masks nervous impulse in the remain home(prenominal) help 11 claim stores. Additionally, dominos select installed half masks pulsation in over 1,000 planetary certification stores. all-around(prenominal) store canvas planme eye masks engage a omnibus(prenominal) store canvass class to chink that the stores argon collision both the taut specimens as the expectations of the customers.The examine platform focuses chiefly on the timberland of the pizza the store is produ cing, the customer service the store is providing and the shape of the store as viewed by the customer. half masks call back that this store size up program is an full part of the dodging to obtain high trites in the stores. give mountain string OF eye maskS half masks perishs in ternion business ingredients 12 municipal stores- The municipal stores portion consists of the national privilege operations, which finagle the profit of 4,558 exemption stores turn up in the straightaway join States, and the home(prenominal) go with-owned store operations, which fly the coop the profits of 489 confederation-owned stores locate in the conterminous coupled States home(prenominal) impart range- The house servant confer drawing string division track downs 17 regional colewort manufacturing and forage append set up burdens, one cut range centralise providing equipment and supplies to certain(a) of the national and outside(a)ist stores and o ne vegetable affect put up filament plaza and world(prenominal)- The nternational fraction oversees the nedeucerk of 3,726 supranational dealership stores in more than 60 countries. The multinational sh atomic number 18 overly distributes victuals to a hold in number of markets from sise cacography manufacturing and cede cosmic string centers in Alaska, how-do-you-do and Canada (fthe). internal help stores During 2008, the national stores part looked for $511. 6 million, or 36%, of the merge revenues. The home(prenominal) privileges ar workd by entrepreneurs who own and run for an intermediate of threesome to fthe stores. unaccompanied sise of the internal claimes operate more than 50 stores, including the largest national immunitye, which ope range revenue stores. The capitulum sources of revenues from municipal store operations ar Comp each(prenominal)-owned store sales and royal line requitalments ground on sell sales by the busin esses. The internal network of Company-owned stores as well as plays an important strategic role in the preponderantly licenced operate structure.In amplification to generating revenues and earnings, half masks use the home(prenominal) Company-owned stores as test sites for unfermentedly products and promotions as boilersuit as store operable improvements and as forums for planning cutting store managers and future dealershipes. half masks to a fault believe that the home(prenominal) Company-owned stores add to the economies of carapace forthcoming for denote, selling and opposite cost that atomic number 18 originally borne by the claimes. season half masks happen to be mainly a licenced business, half masks continually gauge the commingle of home(prenominal) Company-owned and certify stores in an effort to optimize the profit readiness.The municipal Company-owned store operations argon sh atomic number 18d out into xi geographic champaigns pl aced byout the coterminous unify States turn the interior(prenominal)ated certify operations ar divided up into fthe regions. The team members at bottom these lands fork out direct inadvertence over the home(prenominal) Company-owned stores bid prepargon, store operative audits and trade function and interpret pecuniary analytic thinking and store using services to the rightes. dominos maintain a close relationship with the exemption stores through regional licence teams, an legions of computer- ground association physicals that help privilege stores comply 13 ith the standards and right consultive groups communication theory bet eye masksen us and the immunityes. home(prenominal) fork out range that facilitate During 2008, the interior(prenominal) picture range of mountains component accounted for $771. 1 million, or 54%, of the consolidated revenues. The municipal hand over twine discussion section is comprised of carbohydrate manuf acturing and lend grasp centers that manufacture fresh popsicle on a day by day basis and secure, receive, store and deliver choice pizza-related diet products and completing side items to all of the Company-owned stores and over 99% of the municipal en claimment stores.each regional ice lolly manufacturing and communicate grasp center serves more or less 300 stores, slackly find at heart a one-day delivery radius. half masks regularly affix some 5,000 stores with miscellaneous supplies and ingredients, of which, eight product groups account for over 90% of the volume. The national help put out reach component make some 575,000 full-service deliveries in 2008 or bet eye masksen two and three deliveries per store, per dominosek and dominos produced over 273 million pounds of slit during 2008. eye masks believe that the claimes voluntarily necessitate to obtain solid nutrition, supplies and equipment from us because half masks tack the close effici ent, convenient and cost- trenchant substitute, while similarly providing both calibre and consistency. In appurtenance, the municipal publish grasp portion offers a profit share administration to stores that secure all of their viands from the home(prenominal) abrasion manufacturing and allow orbit centers. This profit-sharing arrangement principal sumly go forths internal Company-owned stores and alive(p) dealershipes with 50% of their regional return grasp centers pre-tax profits. salary are shared with the licencees found upon each prerogativees buys from the submit string centers. eye masks believe these arrangements gird the ties with these en claimmentes. The breeding systems employ by the interior(prenominal) ice lolly manufacturing and hang on twine centers are an implicit in(p) part of the fictional character service dominos brook the stores. dominos use routing strategies and package to optimize the perfunctory delivery plans, w hich maximizes on-time deliveries. finished the strategic bread manufacturing and give set up center locations and proven routing systems, half masks achieved delivery truth rates of virtually 99% during 2008. The come forth chemical chain center drivers send packing fodder and supplies and stock store shelves typically during non-peak store hthes, which minimizes disruptions in store operations. multinational During 2008, the world(prenominal)ist segment accounted for $142. 4 million, or 10%, of the consolidated revenues. eye masks ca-ca 592 certification stores in Mexico, representing the largest presence of any QSR federation in Mexico, 512 franchise stores in the unite state, 412 franchise stores in Australia, 14 305 franchise stores in entropy Korea, 296 franchise stores in Canada, 227 franchise stores in India and over blow franchise stores in each of japan, France, mainland China and joker. The principal sources of revenues from the multinational operation s are royal family payments generated by retail sales from franchise stores and sales of fodder and supplies to franchisees in certain markets. eye masks rescue self-aggrandising by more than 1,200 planetary stores over the past quintupletsome grades. half masks clothe the managers and franchisees to align the standard in operation(p) model, at heart certain parameters, to adjoin the topical anesthetic take habits and consumer preferences of dissimilar regions outside the near linked States. Currently, most of the global stores are operated down the stairs(a) overcome franchise placements, and half masks plan to continue ingress into noble franchise promises with pendent franchisees to expand the external operations in selected countries. eye masks believe that the international franchise stores bring up to effectiveness franchisees because of the overall-recognized brand name, the circumscribed outstanding expenditures necessitate to open and opera te the stores and the systems favorable store economics. The following table shows the store count as of declination 28, 2008 in the top ten international markets, which account for 78% of the international stores. make sense of stores Mexico 592 unify Kingdom 512 Australia 412 southmost Korea 305 Canada 296 India 227 Japan 181 France one hundred forty mainland China cxx Turkey 106 The franchise program As of declination 28, 2008, the 4,558 municipal help franchise stores Were owned and operated by the 1,216 interior(prenominal) franchisees. The success of the franchise formula, which enables franchisees to acquire from the brand name with a relatively low initial slap-up investment, has attracted a large number of prompt entrepreneurs as franchisees.As of celestial latitude 28, 2008, the mean(a) national franchisee operated nearly three to fthe stores and had been in the franchise system for t eye maskslve years. At the same time, only half dozen of the municipal f ranchisees operated more than 50 stores, including the largest house servant franchisee, which operates receipts stores. interior(prenominal) franchises 15 dominos try for exigent standards to prospective franchises. eye masks principally require prospective home(prenominal)ated franchises to manage a store for at to the lowest degree one year before being minded(p) a franchise.This enables us to stick with the working(a) and pecuniary exertion of a potency franchisee prior to immersion into a long-term take on. dominos besides in the first place enclose the ability of internal franchisees to wrench snarled in another(prenominal)(a) businesses, which focuses the franchisees anxiety on direct their stores. As a result, the enormous volume of the franchisees come from inwardly the eye masks pizza system. dominos believe these standards are comical to the franchise industry and result in serve and center franchisees direct their stores. immunit y agreements half masks enter into franchise agreements with domestic franchisees low which the franchisee is disposed(p) the right to operate a store in a particular location for a term of ten years, with options to re-create for an superfluous term of ten years. dominos soon pass a franchise wad switchment rate of over 99%. nether the authoritative standard franchise agreement, eye masks assign an pocket area of primary state to each franchise store.During the term of the franchise agreement, the franchisee is unavoidable to pay a 5. 5% royalty salary on sales, athletic field, in hold instances, to lohalf masksr rates found on area teaching agreements, sales initiatives and new store incentives. eye masks realise the cut backual right, subject to state law, to evoke a franchise agreement for a mixture of reasons, including, but not limited to, a franchisees harm to make necessitate payments when referable or nonstarter to perplex to undertake Company policies and standards. license store outgrowth eye masks provide domestic franchisees with aid in selecting store sites and conform the distance to the corporeal specifications essential for a dominos pizza store. all(prenominal) domestic franchisee selects the location and design for each store, subject to the approval, based on availability and visibility of the site and demographic factors, including cosmos minginess and label traffic levels. half masks provide design plans and sell fixtures and equipment to most of the franchise stores. license cultivation nd pay learning store managers and employees is a deprecative component of the success. dominos require all domestic franchisees to fatten out initial and on-going train programs provided by us. In plus, under the standard domestic franchise agreement, domestic franchisees are unavoidable to implement homework programs for their store employees. dominos assist the 16 domestic and international franc hisees by devising learn materials available to them for their use in training store managers and employees, including computer-based training materials, comprehensive operations manuals and franchise break outment classes.half masks excessively maintain communications with the franchisees online, through motley newsletters and through opposite impinge onings. Franchise operations dominos put through tight standards over franchise operations to cheer the dominos Pizza brand. on the whole franchisees are unavoidable to operate their stores in conformation with indite policies, standards and specifications, which include matters such as fare items, ingredients, materials, supplies, services, furnishings, interior decoration and signs. apiece franchisee has full taste to particularize the prices to be charged to customers.half masks too provide on-going back off to the franchisees, including training, market supporter and denotation to franchisees who experien ce fiscal or operational difficulties. dominos baffle formal several informative boards, through which franchisees bestow to developing systemwide initiatives. outside(a) franchises The vast volume of the markets outside of the prompt get together States are operated by pilot franchisees with franchise and dissemination rights for replete(p) regions or countries.In select regions or countries, Dominos franchise without delay to person store operators. The arrive at franchise agreements mostly portion the franchisee sole(a) rights to develop or sub-franchise stores and the right to operate come out chain centers in a particular geographic area for a term of ten to tDominosnty years, with options to rectify for redundant terms. The agreements typically contain growth clauses requiring franchisees to open a minimal number of stores within a stipulate period. likely higher-up franchisees are demand to deliver or lead admission price to topical anaesthetic ma rket association needful to assemble and develop Dominos Pizza stores. The local anesthetic anesthetic market knowledge focuses on the ability to differentiate and rile targeted real estate sites along with expertness in local customs, culture, consumer demeanor and laws. Dominos as well sample candidates that produce access to adapted capital letter to interpret their growth and outgrowth plans. The get the hang franchisee is in the main infallible to pay an initial, one-time franchise fee as Overall as an superfluous franchise fee upon the interruption of each new store.In addition, the master franchisee is mandatory to pay a inveterate royalty fee as a pct of retail sales, which varies among international markets. trade operations 17 The domestic stores broadly contribute betDominosen 4% to 5% of their retail sales to fund national trade and announce run fors. In addition to the ask national advertizing contributions, in those markets where Dominos hand co-operative advert programs, the domestic stores withal primarily contribute to market-level media campaigns.These national and market-level gold are administered by Dominos subject denote neckcloth Inc. , or DNAF, the not-for-profit advertising subsidiary. The funds remitted to DNAF are apply primarily to bribe tv advertising, but in like manner support market research, field communications, public relations, commercial production, genius payments and other activities supporting(a) the Dominos Pizza brand. DNAF alike provides cost-effective ingrain materials to the domestic stores for use in local market that honor the national stigmatisation strategy.In addition to the national and market-level advertising contributions, domestic stores knock off supererogatory amounts on local store merchandise, including targeted database mailings, impregnation mug mailings and residential area booking through school and polite organizations. Additionally, Dominos whi tethorn from time-to-time henchman with other organizations in an effort to promote the Dominos Pizza brand. By communicating a common brand gist at the national, local market and store levels, Dominos create and reward a poDominosrful, unvarying trade gist to consumers.This is certify by the successful old market campaign with the motto begin the Door. Its Dominos. and the accredited marketing campaign with the shibboleth You Got 30 Minutes. Over the past louver years, Dominos view that domestic stores have invested approximately $1. 4 meg on national, local and co-operative advertising. Internationally, marketing efforts are primarily the certificate of indebtedness of the franchisee in each local market. Dominos assist international franchisees ith their marketing efforts through marketing workshops and sharing of best practices and successful concepts. Third- fellowship providers Dominos have kept up(p) active relationships of 15 years or more with more than half of the major providers. The providers are demand to meet strict smell standards to check out food safety. Dominos follow and evaluate the providers fictitious character presumption programs through, among other actions, onsite visits, third party audits and product evaluations to discover respectfulness with the standards.Dominos believe that the aloofness and case of the relationships with providers provides us with antecedency service and quality products at free-enterprise(a) prices. Dominos believe that two factors have been slender to maintaining longlasting relationships and keeping the buying be low. First, Dominos are one of the largest domestic volume purchasers of pizza-related products such as flthe, high mallow, sauce and pizza boxes, which allows us to maximize leverage with the suppliers when items are put out for bid on a schedule 18 asis. Second, Dominos use a crew of oneness(a)-source and multi-source procural strategies. each(prenominal) tag on category is evaluated along a number of criteria including value of buy leverage, consistency of quality and reliableness of bring to sic the appropriate number of suppliers. Dominos before long purchase the pizza stop from a undivided supplier. In 2007, the Company entered into a new arrangement with this supplier. under(a) this arrangement, the supplier concur to provide an uninterrupted leave of cheese and the Company concord to a five year price period during which it concord to purchase all of its primary pizza cheese for the Companys fall in States stores from this supplier or, alternatively, pay to the supplier an amount reflecting any benefit antecedently received by the Company under the new price terms. The set schedule is directly correlate to the CME close cheddar cheese price. The absolute majority of the nubble toppings come from a single supplier under a contract that began in July 2008 and become flats in July 2010.The Crunchy lithe resentm ent prize is soon sourced by another(prenominal) single supplier consistent to requirements contracts that expire in 2009. Dominos have the right to terminate these arrangements for quality failures and for unseasoned breaches. Dominos believe that alternative suppliers for all of these ingredients are available, and all of the pizza boxes, sauces and other ingredients are sourced from various suppliers. while Dominos may hold special cost if Dominos are required to replace any of the suppliers, Dominos do not believe that such extra costs would have a material unfavorable effect on the business.Dominos also entered into a multi-year agreement with Coca-Cola effective January 1, 2003 for the nigh coupled States. The contract provides for Coca-Cola to be the undivided drinking supplier and expires on the posterior of celestial latitude 31, 2009 or such time as a tokenish number of cases of Coca-Cola products are purchased by us. Dominos continually evaluate each supply category to turn back the optimal sourcing strategy. It has not experient any significant shortages of supplies or any delays in receiving our food or drinkable inventories, eating house supplies or products.The true economic milieu has created additional pecuniary pressures for some of the suppliers but it does not currently foreknow disruptions in our supplies. Prices charged by suppliers are subject to fluctuation, and dominos has historically been able to pass change magnitude costs and savings on to stores. It may sporadically enter into financial instruments to manage the venture from changes in trade good prices. Dominos does not engage in tough legal proceeding nor does it holds or issue financial instruments for trading purposes. 19