Active and Passive Sentences

Your little boy broke my kitchen window this morning. My kitchen window was broken by your little boy. In the first sentence, the person who did the action (your little boy) is the subject, and comes first; then we say what he did (with the verb, broke) and what he did to (the object, my kitchen window). In the second sentence, the opposite happens: we start by talking about my kitchen window (the object of the first the sentence has become the subject of the second); then we say what was done to it, and who this was done by.The first kind of sentence, and the kind of verb-form used In It, are called ‘active'. The second kind of sentence, and the kind of verb-form used, are called ‘passive'. This difference in the verb conjugation is called one of Voice', different from those of tense, aspect and mood. Examples of Active and Passive Voice Active voice describes a sentence where the subject performs the action stated by the verb. In passive voice sentences, the subject is acted upon by the verb.Sentences in Active and Passive Voice Here are examples of sentences written In both the active voice and the assive voice, with the active voice sentence appearing first: Harry ate six shrimp at dinner. (active) At dinner, six shrimp were eaten by Harry. (passive) Beautiful giraffes roam the savannah. (active) The savannah is roamed by beautiful giraffes. (passive) Sue changed the flat tire. (active) The flat tire was changed by Sue. (passive) We are going to watch a movie tonight. (active) A movie is going to be watched by us tonight. (passive) I ran the obstacle course In record time. active) The obstacle course was run by me in record time. (passive) The crew paved the entire stretch of highway. (active) The entire stretch of highway was paved by the crew.

Analysing Slyvia Plath’s “Mushroom” Poem Essay

The poem â€Å"Mushroom† discusses the persistent struggle as the central theme. The lines that depicts the struggle are â€Å"our hammers, our rams, earless and eyeless, perfectly voiceless† as personified by the mushrooms. Plath’s made use of allusions in the form of the last stanza â€Å"our foot’s in the door† The structure of the poem has 23 lines, with nursery rhyme quality along with many repetitions of phrasing and sounds to depict fertility. Plath used the style of poem for younger children. The persona of the poem is the author herself who had two failed suicidal attempts and re-evaluated by the persona in the poem either from a perspective of a rebellious present. The literary devices used in the poem are personification, metaphor and allusion. Plath personified mushrooms by giving them human characteristics, found in the lines of â€Å"earless and eyeless, perfectly voiceless†. The author also used metaphor of the mushrooms as tables, together with their meekness. The subject mushrooms, as a metaphor for people who are often underestimated people. The poem also showed the allusion of found in the last line â€Å"our foot’s in the door† based o the Beatitude â€Å"the meek shall inherit the earth. † It conveys the dilemma of the oppressed (or mushroom) wherein personification of the poor and voiceless are found as mushrooms. The overall meaning of the poem for contemporary reading audience is to know how to have a deep desire to gain power and control regardless of how oppressed, struggling these people are. Works Cited Plath, Sylvia, The Journals of Sylvia Plath, edited Karen V. Kukil, Faber and Faber, London, 2000.

Eisenhower's Farewell Address Essay Example | Topics and Well Written Essays - 250 words - 1

Eisenhower's Farewell Address - Essay Example However, the subsequent events, including the Vietnam war, the Cold War, and the Gulf wars, have created dilemma in the minds of intellectual citizens who want to live with peace, liberty, and security. It seems that some nations consider the mighty armaments industry of the USA as a threat, which also jeopardizes global security, liberty, and peaceful harmony. The cold war still persists between Russia and the USA, and the two countries consider each other as enemies even though many agreements have been signed in the past (Pesov, 2010). The message of Eisenhower reiterated expansion of military to support the peaceful goals, but it seems that the USA has invited more jealousy and animosity. North Korea, Iran, Lebanon, and several Muslim countries are increasing their military strength to match the mightiness of the American military establishment. Isn’t the peaceful goal lost somewhere? Haven’t the desires of American leaders to manufacture sophisticated arms and to s ell them at profit to other countries subdued the peaceful goals of American citizens? The recent wars in Iraq and Afghanistan have claimed the lives of millions of innocent civilians in addition to killing soldiers.

Current fiscal policy and its effects on the overall economy Article

Current fiscal policy and its effects on the overall economy - Article Example From the Democrats’ view, half of the increase, $ 1 billion, will meet one of Obama’s administration priorities, that is, to help children below the age of three. From the Republicans, it is a cheer because it is $164 billion less than Bush’s last budget (Desjardins, 2014). Any reasonable person with an interest to improve the American economy cannot compromise the policy. The idea to extend unemployment insurance, Bush tax cuts, enhance business expensing, and reduce payroll tax rates is good for the American economy. It is, however, risky to tune the economy through the policy alone. They need to monitor it well to prevent inflation. Government spending multiplier in this case is the ratio that the change in America’s income level will be affected by government spending. The multiplier measures the effect of the fiscal policy on subsequent levels of a country. The increased government spending results to an increase in consumption and a cycle of wealth creation. In forecasting the policy’s effect, a multiplier that exceeds one shows that the spending at the national level has been enhanced. With continuous consumption, demand develops from the initial levels and leads to multiple effects of wealth. Desjardins, L. (2014). Pushing past partisanship, Congressional leaders back $1 trillion spending bill. CNN, 1, 2. Retrieved July 20, 2014, from

Was it the suffragette movement, or the changes brought about by the Essay

Was it the suffragette movement, or the changes brought about by the great war, that enabled women to get the vote in 1918 - Essay Example So, some believe that the World War I is the major reason for women suffrage and few others believe that the suffrage movements played the key role. The suffrage movement in itself represents a broad range of protests and social movements and had people of both gender with varying views. For instance, Emmeline Pankhurst, who led the Women’s Social and Political Union in 1903, was one of the leaders of suffrage movement and an English political activist and was so militant in the approach. There were diverse views about the â€Å"woman’s place† the different groups fought for. Some of them strongly felt that women were naturally kind and weak, and that these qualities may contribute towards political agenda and policies that have a great bearing on household, children and other social safety. They felt that they might have a civilizing effect on political affairs; for example, laws regarding alcohol or child safety, can be best supported and decided by women. A few others voiced for suffrage based on their strong belief in equal rights and woman’s role. They were against any discourse that listed any n atural role for women, rather supported the idea that men and women are equal and capable of same things. While such groups were led by their ideologies about women, other supporters of suffrage were guided by the opinion that all adults have franchise irrespective of class, gender or race. A significant section felt that women suffrage can cancel the votes of men belonging to lower class or non-white race. Each political activist group working towards women suffrage had its own ideology but working towards the same end. Suffrage basically revolved around the idea of human rights and equality. The history of suffrage movement goes back to 1800’s when, the first women’s rights meeting was held in Unites States and this was followed by the rising egalitarian or democratic spirit among women. However, it was the Nineteenth Amendment that

Risk Assesment Essay Example | Topics and Well Written Essays - 750 words

Risk Assesment - Essay Example Malathion is degradable and does not persist in the atmosphere for a very long time. It degrades in the air, in the soil as well as in water. It can be harmful for marine life and thus spraying in water should be avoided. It needs to be sprayed more than once for achieving the best possible results. Though malathion has many benefits associated with it the, the risks cannot be overlooked. If exposure occurs, it can lead to attacks of asthma in patients who suffer from the disease. It has also been associated with cancer in the liver. If skin contact results, it can lead to allergies and rashes as well. It can also disturb the gastrointestinal tract and affect the heart rate by either increasing it or decreasing it. Anxiety can also result and in extreme cases paralysis and coma can also be seen. The city of Genericville has a very essential role of tourism to play in maintaining the economic aspect of the city. The tourist attractions in the city are marked by virtue of the beautiful river as well as the wetlands that lie beside the river. The river and the wetlands are home to different marine as well as animal species that add to the attraction of the city. It is hence the duty of the authorities as well as its residents to take care of these natural endowments that the city possesses. The health and the well being of the tourists is as important as that of the people who reside in the city because they provide for the source of income for this city. West Nile Virus has been a subject of concern for the authorities because it has accounted for 177 deaths out of the 4269 affected cases and there are concerns that it might affect 50 people of the city and result in two deaths. Malathion has been proposed as a measure to overcome this health issue. The spread of the West Nile Virus is by means of mosquitoes and hence malathion which is an organophosphate and a pesticide spray is effective against them. West Nile Virus can result in inflaming the brain as well

Reaction paper Coursework Example | Topics and Well Written Essays - 250 words

Reaction paper - Coursework Example Laws in different countries or legal systems are different from one another and comparative law is the study of differences and similarities between these laws. The comparison can be between two or more countries. Comparative law unlike is not a set of rules or law in itself but an approach or method to legal enquiry ((Hoffman and Rumsey 4). From the above understanding of the two laws comparative law would be best suited and more useful in understanding gender issues that International law. The reason for this is compares the laws in different countries and more importantly tries to find the source of the issue. Different countries have different ethnic backgrounds and hence have different gender perceptions. In such case the source of same gender issue in two different countries can be different. Hence, single binding resolution or law like international law in both countries would not be appropriate or right. In this comparative law approach would be best to understand these issues. International law can be used in cases of extreme gender inequality but for deeper gender issues comparative law would be

Viacom Company Case Study Example | Topics and Well Written Essays - 250 words

Viacom Company - Case Study Example Beginning in 1970s as cable operator, Viacom has managed to become a global entertainment content company. Currently a major media conglomerate operates through two main segments: Media Networks and Filmed Entertainment, producing and distributing a huge variety of motion pictures. Collecting sufficient number of failures and losses during long period of its formation, in late 1980s the company was bought by Sumner M. Redstone, who managed to see great potential of his acquisition. Hence with a help of numerous successful projects of launching classic sitcoms, Showtime movie network, Ha! Channel a leading conglomerate was able to purchase five television and nine radio stations. However, a decline in popularity of pay-TV compelled the senior management of Viacom to switch the main sphere of its performance, setting new challenges. In this respect, Redstone decided to aim at video rental markets. In 1990s the company made the biggest and most profitable deal, purchasing oldest produce r of motion pictures, Paramount Communications Inc. Later on acquiring Blockbuster, suddenly Viacom became the owner of thousands of video and music stores.

DB marketing 10 Essay Example | Topics and Well Written Essays - 250 words

DB marketing 10 - Essay Example Higher preference is given to those individuals who have at least masters’ level of education in business administration. In order to become a sales manager an individual needs to have worked in entry level positions of the sales department such as the sales man, sales executive and should have around one to five years of experience in the same department. The pay scale of sales manager varies from the industry and the organization they work in. At an average a sales manager works for at a pay scale of more than $100,000 per year (Bls.gov, 2014). The BLS has projected that between the 10 year periods of 2012 to 2022 the job growth rate of this particular position is eight percent (Bls.gov, 2014). This position will be a great achievement in my life because I believe that I have the required knowledge, skills and abilities to work as a sales manager. I have always aimed at working in a position where my skills and traits can be used. I believe that if my skills and traits are u tilized in the position of sales manager, then I will end up experiencing job satisfaction. Secondly, I am majoring in the subject of sales and I am fully committed to learn the ins and outs of sales in order to pursue a career in the field of

Food Retailing Research Paper Example | Topics and Well Written Essays - 1000 words

Food Retailing - Research Paper Example Cereal forms an important part of the food industry. Kellogg contains cereal like fiber and whole grain. Cereals are the world’s most important sources of food industry. US is the largest production of cereals, the average production per 1000 metric tons in the US is 334,554 in the year 2001. The output of cereal globally is expected to be 2219 million tons in the year 2009, 2008 experienced a decreased by 3% (UN News, â€Å"UN News Centre†). Agricultural production Food marketing Value added components The value added components of the product Kellogg’s consists of some important cereals which are essential is day to day of life for all age group. Kellogg consists of cereals like whole grains, fiber, minerals and vitamins. Main ingredients and define The main ingredients in Kellogg’s contain fiber, whole grain, vitamins and minerals. Fiber is considered to be healthy for hearts. A diet which is high in fiber ensures all around wellness of the family. Acco rding to the Institute of Medicine, recommendation on fiber is mainly based on age and gender. But it seems like people fall short to achieve the goals as most of the people are losing out the benefits of fiber such as promoting good digestive and keeping the heart healthy. Therefore in order to help the people to overcome such issues, Kellogg have introduced delicious cereals such as All-Bran, Corn pops, Raisin Bran and other such products which aims to provide good and excellent sources of fiber (Kellogg’s, â€Å"Nutrition†). Whole grain has been defined by American Association of Cereal Chemists also known as A.A.C.C., whole grain consists of ground, intact, flaked or cracked whose main components i.e. anatomical components includes the germ, bran and starchy endosperm which are present in the same proportion as in intact caryopsis (Marquart & McIntosh, p.138) . Supply Chain Manufacturing/ processing The Supply chain encompasses all the activities which are associat ed with the transformation and flow of the goods from raw materials to the end users. In the global supply chain management the manufacturing and distribution facilities are scattered all around the world. Figure 1: Supply Chain of Cereals (Source: Radrigue, â€Å"The Geography of Transport Systems†) Storage/ Delivery The above figure explains the supply chain process that takes place in case of cereals. The cereals are processed and manufactured and then they are stored and distributed on to the stores. The cereals are packaged properly with proper label and then they are transported to the retailers. Supply chain of the company Kellogg’s is a well known brand and delivers all the essential requirements for the day to day activities of life through its product. The business primarily focuses on creation of profit but also keeping the environmental and social impact to a high importance. Kellogg’s believes that by acting responsible through supply chain through which the company aims to reduce energy as well as emission in the manufacturing and also distribution and improving the packaging of the product. Kellogg’s supply chain consists of three sectors which are the primary, secondary and the tertiary sector. The process includes a range of agencies which includes the quality, research, sales, purchasing, distribution and transport. As an essential part of the

Operations Management assignment Essay Example for Free

Operations Management assignment Essay Supply chain management is the coordination of the processes and functions within a business, adopted by most companies in the UK in the late 1990’s. It deals with the internal and external factors that, when dealt with correctly and systematically, can determine a businesses success or failure. A supply chain is the network of activities that delivers a finished product service to the customer. By definition, supply chain management (SCM) is â€Å"the management of the flows of materials from suppliers to customers in order to reduce overall cost and increase responsiveness to the customers† (Reid Sanders). SCM entails the co-ordination of the movement of good through the supply chain from suppliers to manufacturers to distributors to the final customer. The main aim of SCM is to maximise the efficiency of any given process being carried out by a company; by doing this it is allowing them to try to cut their costs and hopefully keep satisfying their customers’ needs, while at the same time maintaining their competitive position within their market. Supply chain management is seen as more of an â€Å"open system† in contrast to the traditional system used by the majority of companies just 20 years ago. The new â€Å"open system† allows room for change which is greatly needed with the current financial instability of the economy. SCM has evolved over the years and has moulded to suit the ever changing economy. First adopted by the Japanese, in the form of Geba Kai (A meeting of the minds), the now commonly found process is used by a vast amount of companies in the UK. Nowadays, SCM within a business is responsible for a product from when it’s in its raw state to when it’s a finished product, ready for consumption by customers. The chain management that Comfort Company PLC currently uses is a very traditional system, otherwise known as a â€Å"closed system†. This type of management system isolates itself from the other components in the supply chain and therefore only has communication flowing through the companies own system, this is a negative attribute as it prevents the company from getting important and influential information about the state of the other links in their supply chain. When the dynamics of change happened, it forced the breakthrough of a new approach, the â€Å"open system†. The â€Å"open system† made companies a lot more open to operational change and as a result of this it made several managers, whose companies used the closed, more traditional system, view the new approach as a loss of power; this consequently made a lot of companies resist against the change. The new and more flexible â€Å"open system† was adopted firstly by the Japanese in the form of â€Å"Geba Kai†, they were closely flowed by the British who quickly followed them in adopting it. There are still some nations that, even now, rigidly stick to their old ways and use the â€Å"closed system†, two examples of these nations are the Americans and the Germans. Along with the list of positives the company will gain by changing from a traditional chain system to a more formal supply chain management (SCM) system, there are also a few strategic reasons why a company should change to the newer system, reasons that will help them to stay on par with the other business’ within their industry and within the whole business sector. One of these reasons is globalisation. As stated in â€Å"Operations management: Along the supply chain†, Two thirds of today’s businesses operate globally through global markets, global operations, global financing, and global supply chains†. Globalisation means that British companies, such as Comfort Company PLC are going to have to be prepared to compete in markets that are foreign to them and also have foreign competition within their own domestic markets. Companies that adopt, or have already adopted, a formal supply chain management system will have an advantage upon those who havenâ€⠄¢t and will be able to benefit from globalisation. There are many benefits a company would gain from introducing a formal supply chain management system, all fulfilling the wish to supply the customer with good quality products that â€Å"Comfort Company plc† posses, while at the same time giving them an opportunity to maximise their customer satisfaction, manage their supply chain effectively and allow flexibility to their supply chain. By maximising customer satisfaction, â€Å"Comfort Company plc† could asses how well they are meeting their customers needs, while at the same receiving an indication of how well the business is doing in comparison with their competition; both in their market and foreign markets. Having a flexible supply chain would mean that the company would be able to react to change in demand quickly to ensure that they level the demand to their output, this would save them a lot of time, waste and resources if a freak change in demand was to happen. If â€Å"Comfort company plc† did not adopt the formal supply chain management system they would be at risk of loosing a lot of money if an unforeseeable change was to happen, this would give them a disadvantage upon the competition and would lower their competitive advantage. Effective management of a supply chain could open up opportunities for â€Å"Comfort Company plc† to improve many aspects of their production, and potentially save themselves a lot of money. By identifying the unnecessary waste along the supply chain, â€Å"Comfort Company plc† could make the process an easier, cheaper and quicker one for themselves and other links in their supply chain; this would make the chain more productive, co nsequently making the finished product â€Å"better value†. One of the main advantages of a formal supply chain management system, and an excellent attribute a company can have, is an advantage upon your competitors. Defined, competitive advantage is â€Å"an advantage over competition gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices†(Tutor2u.net, 2011). The type of competitive advantages a company such as â€Å"Comfort Company plc† would achieve from a formal SCM system are advantages such as lower costs and operational flexibility. As there are numerous ways of gaining a competitive advantage, the company in question needs to do some research into their market to see how it could be done, they could research the ways in which their successful competition operate and try to adopt some of their approaches. A good example of a company using its formal SCM system to achieve a good competitive advantage is Dell Computer Corporation. â€Å"Quick delivery of customised computers at prices 10-15 percent lower than the industry standard is Dell’s competitive advantage. A customised Dell computer can be en route to the customer within thirty-six hours. This quick response allows Dell to reduce its inventory level to approximately thirteen days of supply. Dell achieves this in part through its warehousing plan. Most of the components Dell uses are warehoused within fifteen minute travel time to an assembly point. Dell does not order components at its Austin, Texas, facility; instead, suppliers restock warehouses as needed, and Dell is only billed for items only after they are shipped. The result is better value for the customer† (Reid Sanders). There are a few ways â€Å"Comfort Company plc† can gain competitive advantage within their market, such as using tools like business to business (B2B) e-commerce, or adopting one of Dells results gaining approaches and making sure that there components and raw materials for making the products are located a short travel time away from the place of assembly. Being situated on the Crewe Gates industrial park, where many other businesses, some similar to â€Å"Comfort Company plc† no doubt, are situated, there’s sure to be some way that they could find a supplier closer. If this was to succeed they could create a good, strong relationship with the suppliers and build a barrier of trust and communication, this would be a perfect scenario to ensure the links in the supply chain are strong, as the supply chain is â€Å"only as weak and its weakest link† and vice versa. A business to business (B2B) e-commerce is when companies sell to other business, it is the largest segment of e-commerce. If â€Å"Comfort Company plc† were to use business to business (B2B) e-commerce, they could gain potential benefits such as: †¢Lower procurement administrative costs, †¢Better quality because if increased cooperation of between buyers and sellers, especially during the product design and development, †¢Low-cost access to global suppliers, †¢Lower inventory investment due to price transparency and reduced response times (R. Dan Reid, Nada R. Sanders) The reasons/advantages stated above for changing from a traditional chain system to a formal supply chain management system are in fact more than just small advantages â€Å"Comfort Company plc† could gain, but necessary changed that need to be made if they want to survive the current economical crisis and still have customers/revenue at the end of it. With globalisation growing and the need to satisfy the customers becoming more apparent and diverse, the formal supply chain management system is a necessary system that every business, no matter how small or large, should put into place. The formal SCM system will allow â€Å"Comfort Company plc† to integrate their information systems with their suppliers and customers in an effort to meet their goals and objective while still at the same time doing this in a cost-saving way. With every new system brought into a company, there is the risk of it creating a few problems within the company; this makes the need of a contingency plan much higher. There are a few risks that come along with implementing such a big change to a business so set in its ways like â€Å"Comfort Company plc†, a main one being the possible lack of cooperation from the workforce or managers. When change happens in a workplace the employees can feel threatened and scared and will sometimes rebel against the new change, this could be avoided if the company took a few simple procedures to ensure the workforce are happy with the new system. They should tell the workforce about the new operational plan and get their feedback on it, this will make them feel involved in the change and will hopefully make them feel less alienated. Also, they should sit them down and explain the needs of introducing a formal supply chain management system into the company, and the benefits it would gain by doing so, if they feel it would be benefiting the company, they should feel happier about the change going on. Furthermore, if both of the steps are carried out correctly, it could make them more motivated towards their job as they will feel involved in the company and will hopefully want it to succeed. Another risk of the formal supply chain management system is the potential loss of jobs within the company; this will be because some members of staff will not be needed as a go between for information between suppliers and so on. The redundancies in the company could possibly cause bad feeling between the workforce and the new system and could de-motivate them, possibly leading to a decrease in the effort put in by the workforce; this could potentially lead to a product being of a lower quality. Also, the possible redundancies made will be a negative factor for the economy as there will be a few more unemployed people in the country; this is one of the only major downfalls of the introduction of the formal SCM system. However, there may be members of staff who are close to retirement and could benefit from voluntary redundancy and the benefits that go with it. A negative of that would be that â€Å"Comfort Company plc† may loose some of their staff with the most experience and expertise, potentially making them train up current members of staff to the same quality as the members of staff who left. However, the operations management team at â€Å"Comfort Company plc† will have to put contingency plans in place that cover all of the possible risks, and ways to reduce the risks from happening. There are many needs of introducing a formal supply chain management system into â€Å"Comfort Company plc†, and many advantages it would gain by doing so. While there are also some risks involved, the advantages and needs outweigh them massively as they could potentially provide â€Å"Comfort Company plc† with a competitive advantage, while at the same time reducing their costs and use of resources. Like the traditional chain system currently adopted by â€Å"Comfort Company plc†, the new, more up to date formal supply chain management system will fulfil their wish to supply the customer with good quality products while at the same time saving them resources and money, making them more profitable. The introduction of a formal supply chain management (SCM) system is necessary and â€Å"Comfort Company plc† should definitely strongly consider it. References: †¢Operations Management: An integrated approach (2007) (3rd edition) R. Dan Reid, Nada R. Sanders. Pages 16, 98-105 †¢Operations Management: Along the supply chain (6h edition) Russell Taylor. Page 9. †¢Tutur2u.net (2011) Competitive advantage (WWW) Available from: http://tutor2u.net/business/strategy/competitive_advantage.htm

Trans-Disciplinary Integrated Knowledge Essay Example for Free

Trans-Disciplinary Integrated Knowledge Essay Trans-disciplinary integrated knowledge (TIK) is one dimension in which the universities of the world should look to for effective future coping for empowerment of talent. TIK is a very critical area in the present scenario because of changing trends in the flow of information and the related technologies in industry and services. Today more innovative teaching and learning processes are needed. There is a need to find a common ground on which all important disciplines such as engineering, social sciences, humanities, and so forth can see an association between each other to address the complexities of globalization. With this view in mind, it may be inquired how finding this common ground for trans-disciplinary collaboration can be possible. For this very reason, Ramalhoto (2006), tells us that at present it is positive to find chief executive officers of some multinational companies who now demand foresight and not hindsight. Today, they are not looking for marketing planners but for market strategists. To most CEO’s of modern companies globalization demands for diversification of culture and sees enterprises as a source for value creation. Thus it is important to look at things more holistically now than ever before to compete in the climate globalization especially considering the technological and scientific changes, which is possible by integration and interaction â€Å"across all relevant knowledge areas†. This is where the important of TIK falls in. The author further informs that it is a misconception to state that corporate demands and such media as the Internet and ICTs have decreased the demand for developing universities; indeed, empowerment of talent in globalization â€Å"calls for specific innovation inside the [university institutions] to address its new basic function: to teach students to be critical about all kinds of information† .

The Determinants Of Customer Satisfaction In Airline Industry Tourism Essay

The Determinants Of Customer Satisfaction In Airline Industry Tourism Essay Introduction Customer satisfaction has been established as a psychological concept that involves the feeling of customers well-being and pleasure which results from obtaining what he or she hopes for and expects from consuming an appealing product and/or service (Florian and Maren, 2007; Christian, 2005; Abraham and Taylor, 1999). While different scholarly write-ups have confirmed variety of approaches to the explanation of customer satisfaction/dissatisfaction in marketing, in a comprehensive work done by Abraham and Taylor (1999), they developed nine distinct theories of customer satisfaction: namely expectancy disconfirmation; assimilation or cognitive dissonance; contrast; assimilation-contrast; equity; attribution; comparison-level; generalized negativity; and value-precept (Oh and Park, 1997). Customer satisfaction and service quality have also been confirmed to be critical issues in most service industries, and are even highly important for Airline service providers that offer generally un differentiated products. For example, in the airline industry, the main approach to differentiation and the principal means by which one Airline can distinguish itself from another is service before and after sales services (Stafford et al, 1998). Otherwise, companies will be generally unable to differentiate their services based on market offerings because Airlines offer state-mandated standardized products/services. The recent emphasis on service quality and customer satisfaction in the Airline industry illustrates the increased importance Airlines are placing on customer quality and satisfaction (Halil et al, 2008). As such, service quality measurement and customer satisfaction are increasingly becoming important for service firms to stay in the business (Parasuraman et al. 1988). And these service quality measurements processes differs across different industrial domains, because the service manager will account for the unique nature of services, while different service attributes in each organizations are acting as determinants of customer satisfaction because of the complex interrelationship and dependability that exist between them (Fochen and Robert, 2003). Customer satisfaction, one of the central marketing objectives, is closely linked to customer loyalty, the likelihood of recommendation to others, cross-buying behavior; up-grading and lower price sensitivity (Anderson, 1994; Matzler, 2005; Reichheld and Sasser, 1990; Zeithaml, 2000). Literatures like Kurt et al (2006), have explore the dimensionality of price satisfaction as a means to determine customer satisfaction. In their paper, they empirically find that price satisfaction is a complex construct consisting of several dimensions, i.e. price-quality ratio, price fairness, price transparency, price reliability and relative price. Their analyses of these dimensions are given as thus; price transparency is defined as increasing access to information, access to more alternatives, more simplified transactions, increasing communication between customers and a general distrust and resentment among customers. They argued that as a consequence, customers will increasingly demand open, ho nest and complete information on products and prices. Thus, price transparency can be considered as an important aspect of pricing policy. They concluded that price transparency exists when the customer can easily get a clear, comprehensive, current and effortless overview about a companys quoted prices (Matzler et al, 2006). They also explained that price-quality ratio is when the consumers ascribe value to a product or service subject to their perception of two factors: perceived price and perceived quality, or, in other words, the price-quality ratio. They defined customer value as a cognition-based construct that captures any benefit-sacrifice discrepancy. They said if perceived quality exceeds perceived costs, customer value is high, if cost exceeds quality, customer value is low. In their conclusion, they explained that the buyers perceptions of value represent a trade-off between the qualities of benefits they perceive in the product relative to the sacrifice they perceive by paying the price. 1.1 Background of the study The history of Saudi Airline could be traced to 1945 when the then US President Franklin Delano Roosevelt gave a Douglas DC-3 plane as a token gift to the then Saudi Arabia King Abdul Aziz Ibn Saud. This event actually marked the Muslim Kingdoms gradual development in the civil aviation industry. The Kingdoms main carrier Saudi Arabian Airlines was founded in September 1946, which is fully owned and controlled by Saudi government under the control of the Ministry of Defense. In addition to the above development, the airline took extra two delivery of Boeing 720s in 1962, giving it an opportunity to officially register its operations on 19 February 1963. This continuous development has led into establishing the Kingdoms airline as one of the leading in the industry, especially Asia in particular (). In fact, Saudi Airline has been confirmed as the regions second-largest airline by turnover after the giant Emirates airline (). This is because Saudi airline has continuously remained larger than the Qatar Airways in terms of its revenue, and also rated larger than the current fast growing airline popularly called Etihad (). But if measured by the numbers of traffics in the region, the Saudi Arabian airline will still be number three behind the Qatar Airways and the Emirates (). Part of the arguments in favour of Saudi airline is that it is strategically located at the crossroads between Africa, Asia, and Europe and also serving as the largest country within the Arabian Peninsula (). But very important concerns among its transportation stakeholders is how to maximize this external opportunity in conjunction with its current population of about 28 million people that are still depending on few rail network and air travels, an issue that have been argued as a critical component to the economic development of Saudi Arabia (). Following this trend was why the Kingdoms government encouraged the idea of strategically allowing the privately owned low cost airline competitors to rival with the Saudi Arabian Airlines both in the domestic and international markets (). This initiative from the government was subsequently reciprocated by the private investors first through the establishment of NAS airline in February 2007, and Sama airline in Marh, 2007 both initially focusing on various trucks routes within the country (). 1.2 Research problem Due to excessive subsidy of the transport system in Saudi Arabia, both the air and land transport marketers are strategically challenged on best approach to apply in order to efficiently acquire, service and retain profitable customers both within and outside the country (). This issue of subsidized fuel prices does not exclude the Saudi Arabian airline, but practitioners have continuously argued in favour of the need to remove the fare cap so that marketers can conveniently compete without any fear of fare restrictions (). This and many more are the reasons that experts believe serves as the primary cause of Saudi Arabia airline inability to strategically compete with other international airlines like the Emirates and the Qatar Airlines (). Sequel to the above practical issues in Saudi Arabia airline, several authors have argued that service quality can be a strong differentiating factor for any Airline that wants to boost up their market shares and profit position (Halil et al, 2008; Fochen and Robert, 2003; Dennis et al, 1993). Also very recent among the scholarly write-up on Airline Customer Satisfaction is Ekiz et al. (2006), that developed an alternative to SERVQUAL and called it AIRQUAL. They emphasized that this scale is to overcome the psychometrical application of existing problems in Airline Service Quality scales, as initially guided by Churchill (1979) and Parasuraman et al. (1985, 1988). The findings of Ekiz et al (2006), through their AIRQUAL identified a scale of five distinct dimensions, i.e. (airline tangibles, terminal tangibles, personnel, empathy, and image) as a means to successfully manage and measure the quality perceptions of airline customers. Although, it is confirmed that they successfully developed the AIRQUAL scale, but evidences from other scholars shows that their findings failed to identified the impact of Airline price, solution quality, and employee job satisfaction on customer satisfaction, because these variables have been proven to be very significant in determining customer loyalty (Dean, 2007; Kau and Loh, 2006; Schiffman and Kanuk, 2004). Considering Ekiz et al (2006) and other authors limitation and given the importance of these dimensions to the Airline industry, this proposed study wishes to develop on the findings of Ekiz et al.s (2006) and other related literatures on Airline service quality and customer satisfaction. And studies like this will assist in determining the true behavioral intentions of airline customers in Saudi Arabia and the world at large. This proposed research work has develop an additional variable (Price) with specific reference to literatures like Kurt et al (2006), which has explo re the dimensionality of price satisfaction as a means to determine customer satisfaction. In their paper, they empirically find that price satisfaction is a complex construct consisting of several dimensions, i.e. price-quality ratio, price fairness, price transparency, price reliability and relative price. Besides service quality and employee satisfaction, another strong factor that has a direct bearing on a customers satisfaction with a service provider is the quality of the solution that the service provider provides for the customers business problem (Whyte, Bytheway, and Edwards, 1997). To achieve the intended purpose of this proposed study, below is a proposed conceptual framework for this research: Price Customer Loyalty Loyalty Customer Satisfaction Satisfaction Service/Product Quality Quality Solution Quality Employee Satisfaction Satisfaction + + + + 1.3 Research Questions The following questions are based on the issues discussed in the research problem by analyzing the practices of Airline industry in order to find out the impact of Price, Product/Service Quality, and Solution Quality on Customer satisfaction. These research questions are meant to get a feedback from Airline customers that patronize Saudi Airline and a comparable industry leader such as Singapore Airline on what actually constitute their Satisfaction and loyalty. How does Price/Fare affect Customer satisfaction in Airline Industry? How does Product/Service Quality affect Customer satisfaction in Airline Industry? How does Employee Job Satisfaction affect Product/Service Quality in Airline Industry? How does Employee Job Satisfaction affect Solution Quality in Airline Industry? How does Solution Quality affect Customer satisfaction in Airline Industry? How does Customer satisfaction affect Customer Retention in Airline Industry? 1.4 Research Objectives This primary objective of this study is to establish the interdependence of Price perception, Service Quality, Employee Job Satisfaction and Solution Quality on customer satisfaction and customer loyalty. To achieve this, this study plans to measure the impact of metrics such as Price perception, Service Quality, Employee Job Satisfaction and Solution Quality on customers satisfaction and loyalty in the Airline industry. Equally included in the study objective is to test the mediating impact of customer satisfaction on customer loyalty, an issue the researcher believes will strong assist in better understanding the mechanism that are behind the relationships between the antecedents and outcome of customer satisfactions within the airline industry. The theoretical framework is based on market orientation approach as a means to exploring and establishing the relationship between Efficient Airline projects as the independent variable and customers loyalty as the dependent variable. To simplify this, the researcher has designed the following objectives to capture the research problem and provide answers to the research questions. To test a model that can explain the impact of Price, Service Quality, Employee Job Satisfaction and Service Quality on Customer Satisfaction and Customer Loyalty. Research objective 2: To determine the mediating effects of Customer Satisfaction on Customer Retention/Loyalty. 1.5 Scope of the study The focus of this study is to understand what aspect of Airline operations determines Customer satisfaction. This research is limited to the Airline industry, where Saudi Arabia Airline and a leading Airline such as Singapore Airline will be selected for investigation with a set of sampling technique to explore the determinants of customer satisfaction and loyalty. The focus of this research is limited to the airline industry, where selected customers from the airline industry will be investigated with a set of sampling technique to explore their perceptions of the airline services within tourism industry as a strategic part of tourism marketing. The theoretical background of the research is base on market orientation approach and customer satisfaction theories, while airline Tourism will be study from the perspective of the customers. The researcher is planning to structure this research study as a triangulated exploratory investigation that will integrate both qualitative and quantitative techniques, which will be primarily based on an in-depth interview with managers and professionals from the Saudi Arabia airline industry. 1.6 Significance of the research Airline Industry has been chosen as the subject of this study because it will assist in identifying those variables that determine customer satisfaction and loyalty. To the Airline industry, this proposed research work will assist in establishing industry standard and assist the academics in developing alternative theories and models that will facilitate the general operations of the Airline Industry (Halil et al, 2008; Fochen and Robert, 2003; Dennis et al, 1993). Significance to the Academics Very important to the academics on this research is the detail explorations of the linkages that are between airline operational processes, service quality and contemporary customer satisfaction theories. Arguably, the existing literatures have implied that there exist a relationship between airline operation processes and customer satisfaction (), but till date there is very little published empirical research in this area that is looking at the impact of price, solution quality and employee satisfaction on customer satisfaction and loyalty. In addition to this, existing theoretical gaps have indicated that there is need for the academics to further explore, analyze, explain and expand the links between customer satisfaction theories and airline operation processes. Given the aforementioned, this research will be primarily contributing to the academics through its conceptualization and empirically testing the impacts of airline operational processes like price, service/product quality, employee job satisfaction and solution quality on customer satisfaction and loyalty within the airline industry. Through the developments of a measure that can determine the impact of airline operational processes on customer satisfaction and loyalty will provide the empirical methods for the academics in better understanding and able to predict the actual relationship that is existing between service quality and customer satisfaction theories within the airline industry. Measuring the impact of price will provide the knowledge to determine if increase or decrease in the prices of airline services will lead to better customer satisfaction and improved customer relationship performance or not. Significance to the Practitioners Airline management and managers will benefit by better understanding those factors that actually influence the relationships that exist between their operation processes and customer satisfaction and intention to repurchase. In particular, airline mangers will benefit from their understanding of how solution quality and price can affects their relationship with the customer, and how key attributes in airline services can be developed and supported by operational processes. Both the HR and Production managers will benefit how employee satisfaction can be of significant impact to their service quality and solution quality, specifically through their understanding of the key relationships that exist between airline operational processes and their customer relationship performances. The enhanced knowledge though this research would a long way assist the airline management decision-making processes when they are evaluating their customer relationship performances. In the final analysis, it is worth mentioning here that service quality cannot be separated from the concept of customer satisfaction. This is because the nature or characteristics of the service has also been found to influence the relative importance of the drivers of customer satisfaction (Zeithaml and Bitner, 2000). 1.7 Proposed Methodology and data collection process Though there are many methods of collecting data via survey. In this proposed research work, primary data for the intending statistical analysis will be collected through questionnaire design among the selected Airline customers in Saudi Arabia. The researcher is planning to adopt a second qualitative measurement to affirm research findings and assist in the interprà ©tations of the research results with the help of the Airline Experts/Managers. The Unit of Analysis is who or what that is being studied in a given research. Evidences from the social science research have established a unit of analysis as an organization, an individual, a social interaction or a group of organization/individual. Relating the above into this research, the unit of analysis are the Airline customers that will be surveyed. 1.8 STRUCTURE OF THIS STUDY Chapter one introduces the research topic determinants of customer satisfaction in airline industry and argues on the reasons for using price, service quality and solution quality, also included in it were statement of the research problem, the research questions, the research objectives, scope and limitations of the study and significance of the research. Chapter two will define the dimensions of service quality and offer the theoretical background of airline marketing through a series of literature reviews on tourism marketing and customer satisfaction. The theoretical background upon which the researcher plans to develop a theoretical framework and hypothesis in form of summary will equally be contained in chapter two. Chapter three will introduce the research methodology to be employed in this research, by providing a detailed qualitative and quantitative approach to be applied on each case study; and also contain the procedures for the selection of each case, data collection and discussion of data quality that will assist to determine the validity of the research. Chapter four will consist of the descriptions and analyzes of the practices of the airline projects in Saudi airline. The outcomes of the findings on Saudi airline will be presented for discussion in chapter five. While chapter six will analyze, discuss and make conclusions regarding the research questions and points to the theoretical contribution along with the managerial implications contained in the research. Also to be included in chapter six are the alternative recommendations as a direction for future research.

Comparison of the Portrayal of Nature in Blake and Wordsworth Essay

Comparison of the Portrayal of Nature in Blake and Wordsworth One of the most popular themes for Romantic poetry in England was nature and an appreciation for natural beauty. The English Romantic poets were generally concerned with the human imagination as a counter to the rise of science. The growing intellectual movement of the 18th and 19th centuries placed scientific thought in the forefront of all knowledge, basing reality in material objects. The Romantics found this form of world view to be restrictive. They felt that imagination was crucial to individual happiness. The imagination also provides a common human bond; a means of sympathy, of identification. However, the absence of imagination, the Romantics felt, would lead people to indifference and a false sense of being. The English Romantics accepted the reality of the link between man and nature in the form of the human imagination as the basis of human understanding, rejecting the scientific world view of materialism. The Romantics attempted to discover the hidden union between man a nd nature. Imagination is a force, or energy, that allows such a bond to be made. William Blake saw the human imagination as essential to human understanding of the world; he saw reality as a "mental construction." According to Blake, once the energy of imagination is used effectively to realize the connection between man and nature, the person gains freedom from the restraining bonds of uninspired thought. Humans bring meaning to nature in the form of imaginative thought. Self-imposed social and intellectual restrictions deprive humans of experiencing nature and the true human spirit. In Blake's Songs of innocence and Experience we have several poems which focus on nature. T... ...ded him comfort and enjoyment during the years of his absence, when he was stuck in the "din of towns and cities." For the rest of the poem, he ponders on the relationship he has had with this area, thinking about how his feelings about nature have changed since he was a child and how he can pass on his appreciation of the valley to his "dearest Friend", with whom he is exploring the river valley around the abbey. The specifics of the scene are important to Wordsworth, but their importance is primarily as an inspiration for the more philosophical ideas he presents throughout the poem. What Wordsworth names and represents as nature is the ruling power working tacitly and harmoniously, reconciling discordant elements, building up the mind and perhaps the cosmos itself. www.mattbrundage.com Wordsworth Lyrical ballads Blake - Songs of Innocence and Experience

Wounding More than just the Knee: The Development of the Ghost Dance in

Religion has always been an easy respite from the toils of daily life. Moreover, it has an intrinsic ability to help its followers make sense of matters during times of despair. For Native Americans, religion has long been an integral part of their culture. The Longhouse Religion, the Drummer-Dreamer Faith (which strongly foreshadowed the development of the Ghost Dance movement), and the Indian Shaker Church are all religions that originated deep within Native American culture. The white man, since his arrival in America, has always had extreme amounts of tension with Native Americans, often enacting laws in order to do what would make white society happy. As the United States government took away more and more of what Native Americans stood for, vast amounts of them turned to religion for reprieve from the pain and suffering instigated, in part, by the white man. The United States government, since its very foundation, has been hostile towards Native Americans, forcing them to comply with their needs. An early instance of Indian manipulation on the part of the United States government was the Indian Removal Act of 1830. During Andrew Jackson’s presidency, thousands of Native Americans were forced off of their land west of the Mississippi River. These Native Americans walked on what would later be known as the Trail of Tears. It was named this because of the acute anguish that countless numbers of them endured while on it. As they were forced further and further west, they were cramped onto smaller and less fertile lands. The Sioux Treaty of 1868 (also known as the Treaty of Fort Laramie) established the Great Sioux Reservation. This treaty drew boundaries as to where Native Americans could and could not settle, and attempt... ...ess, 2009. Meddaugh, J. E. American Indian Ghost Dance. Photograph. 1885. Photo Lot 90-1, number 391. National Anthropological Archives. Smithsonian Institution, Washington, DC. Members of the Potomac Corral of the Westerners. Great Western Indian Fights. Lincoln, NE: University of Nebraska Press, 1960. Mooney, James. The Ghost-Dance Religion and the Sioux Outbreak of 1890. Washington DC: US Bureau of American Ethnology, 1896. Sandefur, Gary D. "American Indian Reservations: The First Underclass Areas?" Focus 12, no. 1 (1989): 37-41. Streissguth, Tom. Wounded Knee 1890: The End of the Plains Indian Wars. New York, NY: Facts on File, 1998. Thurman, Melbum D. "Wovoka." American National Biography Online. Last modified February 2000. Accessed October 15, 2013. http://www.anb.org/articles/20/20-01149.html. Wovoka. "The Messiah Letter." Speech transcript.

physics of soccer Essay -- essays research papers fc

Physics of Soccer   Ã‚  Ã‚  Ã‚  Ã‚  Eleven men take the field on a warm sunny day in South Korea. Thousands of anxious soccer fans await the blow of the referee’s whistle to commence the culmination of the world’s greatest sporting event, The World Cup. Thirty-two once stood now only two remain .The pitch is fair and the competition is fierce, four time defending champ Brazil looks confident as it glares across at its nemesis for the duration of ninety minutes, Germany. The entire world is spell bound by the natural creativity that ensues from a high level soccer match, but do they know the necessary physical laws that make the game possible? The answer is no, the average soccer fan has no idea the physical restrictions and factors involved in moving a ball one hundred meters, the standard length of an international playing field.   Ã‚  Ã‚  Ã‚  Ã‚  Once in Yokohama stadium the able athletes stretch their finely tuned musculature in order to get ready for today’s athletic competition. Roberto Carlos the star left back, for the acclaimed Brazilian national team has the important job of defending the goal and preventing the ball from crossing the threshold of the goal line at any cost. A good defender can boot the ball weighing approximately one pound the length of the field at any given time. Carlos is not good, he is great, solid legs and a supple foot he is quite capable of accomplishing this feat. His leg is so strong he his able to strike the b...

Cover Letter. What is it? Essay

It is generally accepted practice to include a cover (or covering) letter, together with your resume and any other documentation that you forward to the employer as part of a job application. Your covering letter essentially provides an explanation of why you are communicating with the employer. Imagine a prospective employer’s confusion if they received your resume without a covering letter explaining why you have sent it to them, or what position you were applying for. A well written covering letter however can achieve much, much more in assisting you to gain employment. It represents a significant opportunity to create a positive impression with the employer, and to further market your skills and qualifications. Often your cover letter alone can influence an employer to include you in the next stage of the selection process, which is meeting you in an interview. When should I send a cover letter? What is the purpose of a cover letter? Write about benefits to the employer General guidelines for preparing a cover letter Suggested content for specific types of cover letters Job advertisement response – private enterprise position Job advertisement response – roles in government departments/organisations Speculative or cold call letters Writing to a recruitment agency Email cover letters Keep good records When should I send a cover letter? Always include a cover letter when sending your resume to: An employer, or a recruitment agency, in response to an advertised position. A recruitment agency seeking their assistance in finding employment. Prospective individual employers as part of a self-marketing exercise, or  when enquiring about employment opportunities in their organisation. Send a cover letter even if a job advertisement doesn’t specifically request that you do so. Remember, a cover letter provides another opportunity, in addition to your resume, to make a positive impression with prospective employers. Note: The only exception to this would be an employer’s on-line application process which does not enable or allow for a cover letter to be included. top^ What is the purpose of a cover letter? The cover letter is an obvious means of introducing yourself to a potential employer, or, to an employer’s agent if you are writing to a recruitment agency. Beyond this however, you should use a cover letter to: Explain clearly and concisely who you are, what job you are applying for, and why you applying. Summarise your key strengths, attributes, qualifications and motivations. Convey that you are professional, competent and enthusiastic about the employment opportunity through the language, content and overall layout of the letter. Tip: Never send a ‘generic’ cover letter to employers. As with your resume, it is essential that every cover letter you send to an employer is tailored to either the specific selection criteria appearing in the job advertisement, and/or to your specific purpose in writing to that employer. A final thought about the importance of your cover letter: The cover letter and the resume should both be stand alone documents and have sufficient impact on the employer to take your application to the next stage. Don’t assume that an employer will take the time to read both the cover letter and resume when deciding which applications to accept or reject. top^ Write about the benefits to the employer Your cover letter is a sales letter; you want the employer to â€Å"buy† what you have to offer. To encourage them to do this, it is essential that you explain how the employer will benefit if they offer you a position. For example, if you have well developed interpersonal communication skills and you know these skills are important to the employer, then say you have these skills in your letter. Then go one step further and point out a benefit, for instance: â€Å"I have highly developed interpersonal communication skills which means that I able to rapidly form effective working relationships with both co-workers and customers†. Avoid doing what inexperienced job candidates do which is usually to point out to an employer how a position with their organisation meets their career goals or other needs, such as: â€Å"This is my ideal position†, or â€Å"this role will give me the opportunity to get started/gain important experience in this field†. Employers will rarely be impressed by this; they much prefer to know about the contribution you can make, or the benefits you can bring to their organisation. top^ General guidelines for preparing a cover letter Following are some guidelines to assist you to write cover letters that make a positive impact on employers: Ideally keep the length of your letter to a single A4 page, and no more than a page and a half. Keep your message clear and succinct. Address your letter to a person, not a position. The job advertisement might say to address your  letter to the â€Å"The Human Resources Manager† or other job title. Contact the organisation to find out the name of the person to whom the letter should be addressed. In this way you can differentiate yourself from other candidates, and increase the chances that your application will get noticed. Ensure your name, address, phone number/s and email address are at the very top of the letter and aligned to the right hand margin. Also at the top of the letter, on the next line after the greeting â€Å"Dear Ms †¦Ã¢â‚¬ , quote any employer reference information and/or number appearing in the job advertisement. Set out your letter so that it is easy to read, and that essential information about you can be seen at a glance. The reader will probably spend no more than 30 seconds or so reading your letter before deciding if you qualify for further consideration. It is quite acceptable to use bold or underlined sub-headings in the main body of your letter with information relevant to the sub heading in dot point form. Make the tone of your letter lively by commencing bullet point sentences with action words such as ‘led’, ‘designed’, ‘planned and organised’, ‘implemented’ etc as appropriate. Close the letter with â€Å"Yours sincerely† if you know the person to whom you are writing, otherwise close with â€Å"Yours faithfully†. Sign the letter in your own hand writing, and type your name underneath the signature. Always proof read your letter. Spelling and grammar must be correct. Having a friend or colleague proof read your letter is also helpful. The next topic provides suggestions about the content of specific types of cover letters. top^ Suggested content for specific types of cover letter What you write about in your letter will depend on your purpose. Following are some additional, more specific guidelines for each of the most common situations where you should send a cover letter. These situations are: A position in private enterprise. Here you are responding to a job advertisement placed either by the employer, or a recruitment agency, where you are not required to also submit a separate document addressing the selection criteria. A role in a government department, local government and some not for profit organisations. This type of job application usually  requires you to prepare and submit, in addition to your resume and cover letter, a separate document which addresses the selection criteria contained in the person specification for the role. Writing a speculative letter (or cold call) to an employer enquiring about employment opportunities. Writing to introduce yourself to a recruitment agency and requesting them to assist you to find employment, rather than the situation where you are writing in response to a job advertisement. top^ Job advertisement response – private enterprises  Carefully analyse the job advertisement to determine the content of this type of letter. In your letter you should describe succinctly and clearly how you meet that criteria. Advertisements for graduate positions most often appear in the large display advertisements in the careers or professional section of the newspaper, not in the positions vacant section. A display advertisement will usually consist of three parts – a description of the employer organisation, an overview of the job role and then the selection criteria. The selection criteria part of an advertisement usually starts with a sentence like â€Å"The successful candidate will demonstrate/possess †¦Ã¢â‚¬  or â€Å"To be successful in this role you will †¦Ã¢â‚¬  The focus and main content of your letter should be about how you meet the selection criteria. This is because the decision to hire will be based on how well candidates meet the selection criteria. In your introductory paragraph: Refer to the position, including a reference number, if applicable, and where you saw it advertised. Say that you are interested in the role, and express confidence in your ability to perform the role to the standard required. Then write a sentence introducing the reader to the main body of the letter, for example, â€Å"Following is a summary of my qualifications and experience based on your selection criteria: †¦Ã¢â‚¬  In the main body of your letter: Use sub headings, either in bold font or underlined, for each of the selection criteria, and then detail under each heading the information in dot point summary form about how you meet the criteria. Indicate that you have enclosed your resume which contains further information about your skills and qualifications in relation to the position. The concluding paragraph: Indicate that you look forward to meeting the person to whom you are writing in the interview, at which time you will be able to further demonstrate your suitability for the role and outline the contribution you can make to the organisation. Avoid a weak closing sentence which states that you â€Å"hope to hear† from them à ¢Ã¢â€š ¬Ã¢â‚¬Å" indicate in the tone of the letter that you are confident about your capabilities and that an interview is expected! Tip: Avoid doing what inexperienced job seekers tend to do, which is to write about their ability to carry out the described role, rather than attempting to match their skills and experience against the selection criteria. Job advertisement response – roles in government departments/ organisations The content of your cover letter for a position in a federal, state or local government organisation or department will be set out in a similar style to a letter which you might send for a role outside government. You will need to outline in the letter the position for which you are applying and why you believe you are the best candidate for the role. When applying for most government roles you will need to complete a separate, and usually quite extensive document which contains evidence about how you meet the selection criteria. Because you will need to restrict the length of your cover letter to a page or so, your major challenge will to condense and summarise in your letter, information that you will have already provided in this separate document. In the main body of the letter therefore, using the same sub heading and bullet point format as for a private enterprise position, select and write about how you meet 3 or 4 of the most important ‘essential’ selection criteria. Speculative or cold call letter This is an option for finding employment which is sometimes successful. The approach is to write to an employer, or employers, and recruitment agents who operate in your field of career interest, either to enquire about employment opportunities, or to offer your services. This type of letter is often called a speculative or cold call letter because you are not responding to an advertisement, and you may not know if the employer is looking to hire staff. Some suggested approaches for preparing this type of letter are: If you know the organisation recruits graduates for various types of employment, work experience or project work, explain the arrangement you are seeking. This could be for example to seek full time employment, undertake casual, contract or voluntary work, vacation employment, or as part of a university assignment or project which has application to the organisation or industry. If, as a result of your research into the organisation, you are aware that they have a need that you are able to help them meet, outline in the letter your understanding of their need. Then explain how, through your specific skills, knowledge or experience, you can assist. Outline your action plan in your closing paragraph. For example, explain that you will make a follow up phone call seeking an interview and give a time frame for when you will be doing this. Do not expect the employer to contact you. Address your letter to a person. Identify who appropriate person/s might be through research and through networking. You can then ask for this person by name when you make your follow up phone call. top^ Writing to a recruitment agency It is recommended that you include two or three recruitment agencies as part of your job search strategy, asking their assistance in finding you a job. You do not have to wait for an advertisement to appear before contacting a recruitment agency. Write to them as soon as you start your job search. Be sure to select recruitment agencies that specialise in the industry or occupations that you are targeting. Recruitment agencies often do not advertise all the positions they are attempting to fill for the employers who are their clients. Instead they will attempt to fill these positions from candidates whose details they already have on their data base. In order to get onto their data base you will probably need to write to them and include your resume. As with other employment applications you will need to explain in your letter the type of role you are seeking, and outline the skills, knowledge and experience you would bring to such a role. Your approach in the letter is to assist the agency to sell your services to an employer. Be aware that most recruitment agencies are pleased to work with candidates who are seeking employment under various conditions. This includes permanent, full time roles, full time, fixed term contracts, part time and casual work. You will need to indicate in your cover letter what your preferences are in this regard. Tip: It sometimes helps to be flexible about the basis on which you might be employed by an organisation. There are many examples of people commencing their career with an organisation on a contract basis, or even as a part time or casual employee who have subsequently been offered a full time, permanent position. top^ Email cover letters With the increasing use of employment advertising on the internet and  electronic job application processes it is quite likely that you will be using an email in which to write a covering letter. If you are writing an email cover letter it is even more important to be clear and concise in what you write. Generally the reader will not want to have to work their way through large blocks of text to find out why you are writing and what you have to offer. This means you should aim to confine the content of your email into a single screen sized page. Some guidelines to follow: Use the subject line to clearly convey your purpose in writing. Explain in the first sentence why you are writing.  In dot point form provide a very brief summary of your key selling points – your relevant skills, knowledge and experience. In your closing sentence indicate that you are looking forward to meeting them in the interview where you can further demonstrate your capabilities. top^ Keep good records  When you begin to seriously look for employment it is possible that you will prepare numerous, and different versions of cover letters, your resume and other documentation associated with your application. Should you be invited to attend an interview, or an employer contacts you by telephone (with or without notice) to conduct a screening interview, it will be imperative that you are able to quickly locate and refer to the information you have given that employer. A good filing system will assist you to do this. Keep a separate file for each job application. Include in this file: The job advertisement. Job or person specifications. Any notes or worksheets associated with the position. A copy of the cover letter, resume and any other documentation you send to the employer.

Do Stop and Searches Breach Our Privacy?

Since it was first-class honours degree introduced, the limp and search method of countering umbrage has sparked a fierce debate as to whether these searches argon morally estimable. Happening almost daily, the work continues to be very controversial, with many claiming that preventative and searches geological fault our right to privacy. In the contiguous couple of paragraphs, I shall attempt to dress the question do furlough and searches breach our privacy? and learn a small(a) more about the controversial topic.Depending on where in the UK one lives, one is promising to be goped and searched at least once in their life by a police policeman it has bugger rack up an inevitable fact. When told by an officer that they argon going to be searched in public, a person is given a issuance of key rights and responsibilities. Both the former and the last mentioned atomic number 18 obvious the right to be told the officers name and police station, the right to intoxica te a receipt from the officer about the search, the right to not be strip searched in public, and the right to be searched by an officer of the same sex, as well as the right to comply with the police, to not gybe or abuse the officers, to take off all garments when asked to (only up to a hood never trousers or a shirt), and the responsibility to tell them your name and address.This fairly quotidian occurrence happens all the time, and is, for many, a systematic procedure. It may seem like a harmless, if slightly annoying, chore. Unfortunately, when one looks a minuscular deeper into the facts and statistics, there seems to be a racially-motivated background why some social groups be more searched than others black stack are six times more in all likelihood to be stopped and searched than white people, and Asians are twice as probably. Most people are searched under the Police and roughshod Evidence Act, which gives police officers the permission to perform the act rand omly with anybody they suspect of take to the woodsing drugs or concea conduct weapons. The stubbornly high levels are shocking as it would seem that, concord to members of the police force, people from ethnic minority groups are more likely to carry illegal drugs or items.This prejudice has led to more fierce debate and is, sooner simply, unfair. Many people attack stop and searches due to this fact, claiming that this racially-motivated trend is ridiculously cruel, and out-dated for redbrick western society. Another argument against the stop and search procedure is one that criticises the lack of essay that proves that ethnic minorities are more likely to be involved in crime it is simply not excusable for officers to fundament their reasonable suspicion on personal beliefs. A final argument is the low simplification of crime caused by the search, with crime place dropping by only 0.2%.On the other hand, many claim that it is a necessary way to prevent crime, and is justi fiable as an officer should know who is more likely to commit offenses. Some to a fault believe that due to the large gist of crime possibly prevented by stop and searches (in 2009 14,700 people were arrested and 7,500 knives were recovered) the whole thing has helped to read society a safer place.In conclusion, it seems blow over that the stop and search method is wrong and has undersized impact on criminals, and despite the cadence of crime prevented, the whole procedure is unnecessary, unfair, bullying, and inefficient.

Only the Strong Survive

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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