Notes for Corporate Finance - 2082 Words

Corporate Finance Notes * Chapter One: Introduce to Corporate Finance 1. Three Questions: A. What Long-term asset should be invested? Capital Budgeting B. How to raise cash for capital expenditures? Capital Structure C. How to manage short-term cash flow? Net Working Capital 2. Capital Structure: Marketing Value of Firm = MV of Debt + MV of Equity 3. Finance perspect and Accountant perspect: Finance: Cash Flow ! Accountant: A/R means profit ! 4. Sole proprietorship, parternership and corporation | 5. The goal of financial management: Maximize the current value per share of the existing stock. 6. Agency problem and Control of the Corporation Agency Relations: stockholders with†¦show more content†¦The total Remarks: * Net Income is not Cash Flow, always different number * Outflow is -, Inflow is + 8. Statement of Cash Flow Cash Flow from Operation (OP CF): Net Income + Non-cash Expense + Adjustment in CAamp;CL (except Cash amp; N/P) Cash Flow from Investing (Capital Spending): Acquisition of FA (-) + Sales of FA (+) Cash Flow from Financing: changes in equity and debt * Chapter Three (Part One): Financial Statement Analysis 1. Standardizing Statement amp; Common-size Balance Sheets Common-size Balance Sheet / Income Statement: percent – noted sheet 2. Short-term Solvency or Liquidity Measures: A. Current Ratio = CA / CL CA: the book value and market value are likely to be similar B. Quick Ratio (Acid-Test) = (CA – INV) / CL INV is least liquid CA. Thus the BV of INV is least reliable. C. Cash Ratio = Cash / CL 3. Long-term Solvency Measures (Financial Leverage / Leverage Ratio) A. Total Debt Ratio = (TA – TE) / TA Debt-Equity Ratio = TD / TE Equity Multiplier = TA / TE B. Times Interest Earned (TIE) = EBIT / INT Interest coverage ratio C. Cash Coverage = (EBIT + Dep.) / INT EBIT + Dep. is called EBITD, A basic measurement of the firm`s ability to generate cash from OP. 4. AssetShow MoreRelatedCorporate Finance Notes1881 Words   |  8 PagesStudy notes By Zhipeng Yan Corporate Finance Stephen A. Ross, Randolph W. Westerfield, Jeffrey Jaffe Chapter 1 Introduction to Corporate Finance ..................................................................... 2 Chapter 2 Accounting Statements and Cash Flow.............................................................. 3 Chapter 3 Financial Markets and NPV: First Principles of Finance................................... 6 Chapter 4 Net Present Value....................................Read MoreCorporate Finance Test Notes3814 Words   |  16 PagesFinal Exam Corporate Finance FINC 650 1. Which of the following is not considered a capital component for the purpose of calculating the weighted average cost of capital as it applies to capital budgeting? a. b. c. d. e. Long-term debt. Common stock. Short-term debt used to finance seasonal current assets. Preferred stock. All of the above are considered capital components for WACC and capital budgeting purposes. 2. A company has a capital structure which consists of 50 percent debt and 50 percentRead MoreCorporate Finance Study Notes1863 Words   |  8 PagesSolutions to Chapter 10 Introduction to Risk, Return, and the Opportunity Cost of Capital capital gain + dividend ($44 − $40) + $2 = = 0.15 = 15.0% initial share price $40 1. Rate of return = Dividend yield = dividend/initial share price = $2/$40 = 0.05 = 5% Capital gains yield = capital gain/initial share price = $4/$40 = 0.10 = 10% 2. Dividend yield = $2/$40 = 0.05 = 5% The dividend yield is unaffected; it is based on the initial price, not the final price. Capital gain = $36 – $40Read MoreEssay On Corporate Finance806 Words   |  4 PagesCorporate Finance in the age of Thinking Computers. Just like humans, computers can now learn and adapt, thanks to machine learning, a subfield in AI. With artificial neural networks to mimic those of the human brain, intelligent computers can learn from examples, meaning that no task specific programming is required. While machine learning technology is still at infant stages in most industries, it is making ground breaking milestones in the financial sector. Among the areas experiencing majorRead MoreBrief Introduction Overview of McGraw Hills 9th Edition of Fundamentals of Corporate Finance655 Words   |  3 PagesReview Fundamentals of Corporate Finance – Ross, Westerfield, Jordan McGraw Hill Education (India), 2012, 878 Pp 9th edition ISBN: 13:978-1-25-9027628 Kumar Ratnesh* About Authors Stephen A. Ross is the Franco Modigliant Professor of Finance Economics at the Sloan School of management, Massachusetts Institute of Technology. Randolph W. Westerfield is Dean Emeritus of the University of Southern California’s Marshall school of Business. Bradford D. Jordan is Professor of Finance Holder of the RichardRead MoreSample Resume : Cash For Cash Essay1665 Words   |  7 PagesIn addition to the above Ecobank streamline corporates’ collection procedures that will enable them to extract additional liquidity in working capital – from the point when an order is made up to cash realization. I. Cash-In-Transit (CIT) Ecobank offers CIT services to businesses and sales offices anywhere were there is a branch. Generally an arrangement will be made between the bank and the customer on the frequency of collections and in most cases CIT transactios are given fast value with sameRead MoreMy Personal Learning Experience Of Corporate Finance And Investments Module Essay1202 Words   |  5 PagesThe following self-assessment essay will be a brief analysis of my personal learning experience of Corporate Finance and Investments module, and a brief description of my development planning. This essay includes four paths, therefore, I shall explain my motivation of studying particularly this module, my strengths and weaknesses, critical and analytical learning, as well as my future career expectations. 1.1 Motivation As stated by the business dictionary, ‘’Motivation is leaded by internal andRead MoreEconomics1509 Words   |  7 Pagesconsumption of which is accompanied by spillover benefits. Public television Access to public television is not prohibited to any individual. All those who consume the benefits that come with the good have not necessarily paid for it. On the same note, if there are costs needed for upgrading or improved the premises form where the television is watched from, not every person will take part in that initiative. In this case, where there are costs or benefits attached to that good, there are consumersRead MoreWestport Electric Company969 Words   |  4 Pageshandsome the profits brought in for the company, without being given much performance evaluation as is needed in any organization. Being distinct profit centers, both revenues and costs must be calculated for each business segment. It is important to note that while the individual divisions may report the most exorbitant of profit figures, the numbers do not carry with them as much meaning as when these are put into context. As in the case of Westport Electric for instance, Kelly is quick to point outRead M oreThe Role of the CFO: An Analysis693 Words   |  3 PagesThe role of the CFO has become increasingly important, and this has led to a situation where CFOs are increasingly being tapped to become CEOs. Taub (2003) notes that this trend started around the time of the corporate scandals like WorldCom and Enron, and the increased scrutiny that was being placed on the accounting function in particular by regulators. Durfee (2005) argued that the role of the CFO is critically important for a lot of firms, given the way that CFOs have a focus on shareholder value

The Influence of Enlightenment Ideas Essay - 748 Words

The ideas from the Enlightenment and its thinkers greatly influenced the world today, everything from our ideas of modern government to our view of everyday life. Important Enlightenment philosophes such as Locke, Montesquieu, Hobbes and Voltaire established controversial ideas and theories on human nature, natural rights, and how government should be run and which form of it was superior. These ideas were all never even thought of before, and shattered many of the previous notions of ideas, such as ideas of how to run government, that had already been established and taken as a standard for several hundreds of years. One of the first places these revolutionary ideas debuted in was around 17th century-era France, which, at the time, was†¦show more content†¦It wasnt until the American Revolution halfway across the world on the other side of the Atlantic ocean that the metaphorical seed planted in France finally sprouted. The Americans took these Enlightenment ideas of freedo m, liberty and equality, and immediately put them into effective action against British oppression, and thus the American Revolution began. The American Revolution borrowed heavily from Enlightenment ideas. In fact, Thomas Jefferson, a key character in the the Revolution, based his ideas directly on the ideas of Locke, declaring that all men were equal. Although he altered these ideas slightly by stating a more radical idea that the people could overthrow oppressive government, his idea that the government exists solely to serve its people was nonetheless identical to that of Locke. The American Revolution and the war in which they broke away from Britain produced the spark which ignited the already combustible revolutionary mood of France. Inspired by the Americans, the French Revolution was now at a full blaze. Peasants rioted, calling for Louis XVI to do something to end the crisis. The lower classes adhered more to the views of Rousseau, Montesquieu, and Locke, calling for fr eedom, equality and liberty from Louis XVI and an end to upper class privileges, while the upper class were leaning more towards the ideas of Hobbes, and favored a strong form of government to keep the people in order. Instability among theShow MoreRelatedThe Enlightenment Set the Stage for New Imperialism1362 Words   |  6 Pagesthe fairytale that these nations were in need of aid and by doing so the Europeans were the good guys. The ideas of new imperialism are greatly influenced by those of the enlightenment. Taking place during the eighteenth and nineteenth centuries the enlightenment was an intellectual movement with the goal of social progress (Genova, 1/11). Armed with scientific thought and reason, enlightenment thinkers set out to explore the fields of science, economics, and human nature. Brilliant minds such as VoltaireRead MoreThe Age Of Enlightenment And The Scientific Revolution1675 Words   |  7 PagesAge of Enlightenment delivered the greatest influence for the future American society and planted the way for cultural and humanistic enrichment. The Age of the Enlightenment raised new concepts in education, democracy, and human freedom. The new humanistic philosophy promoted the polish of the human intelligence and made education a longing that lasted in the following centuries. Names like John Locke, Montesquieu, Voltaire, Rousseau, Diderot, and many more, contributed with their ideas about reasoningRead MoreEssay on Revolution in Scientific Affairs977 Words   |  4 Pagesscientific thinking, which would eventually come to influence ideas about such wildly disparate fields of human endeavor as physics, religion, and governmental theory, shows that Francis Bacon played a major role in encouraging the growth of the Scientific Revolution. 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This essay will argue that the Enlightenment principles of rationalism and universal rights shaped modern Europe and North America through the rejection of absolutistRead MoreThe Intellectual Movement of Enlightment828 Words   |  3 PagesThe intellectual movement of Enlightenment was a very intricate movement that was centralized on the concepts of progression, reasoning, and the scientific method. The Enlightenment thinkers believed they could implement some of these ideas to create a better influ ence towards societies and people. These ideas changed how humanity viewed the government, politics, and society. Although each philosopher had their own individual concept, they all centered on the themes of equality and freedom. ThomasRead MoreThe Enlightenment Paradigm Shift Within The Era1628 Words   |  7 PagesThe Enlightenment Paradigm Shift The Enlightenment era, between the 1500s and 1800s was a predominately intellectual movement that saw the development of new ideas, major changes in Church-State relations and scientific discoveries that are still fundamental today. Until the Renaissance and Reformation period the Church, from the ancient to medieval ages, had total domination. The Renaissance era set the ball rolling for the Enlightenment with the beginning of scientific inquiry and search forRead MoreEnlightenment During The French Revolution1423 Words   |  6 Pages Enlightenment during The French Revolution: Two of the Greatest Eras Working Together Without Knowing Molly Dauk Honors World History Mrs. Bartosik May 5, 2017 The Enlightenment and the French Revolution, two of the most enriched periods of history, probably never to be left out of the history books. The French Revolution was influenced greatly by the Age of Reason. The Enlightenment period took place over about three-hundred years, whereas the French Revolution took place for onlyRead MoreThe Enlightenment As A Period Of Time During The Eighteenth Century860 Words   |  4 PagesHistory 102 July 19, 2015 The Enlightenment is known as a period of time during the eighteenth century in which the most influential thinkers throughout Europe, Britain, and France expressed criticism and mistrust of traditional customs, morals, and institutions. These individuals were known as the Enlightenment Thinkers and consisted primarily of elite writers and intellectuals. The Enlightenment Thinkers, mostly through their writings, were able to spread their ideas of a new European outlook whichRead MoreNewtons Influences Of Isaac Newton And John Locke And The Scientific Revolution763 Words   |  4 PagesThe Enlightenment was a period of time during the second half of the 18th century of new concepts and ideas aimed to advance European society by using rational thinking and logic. The ideas presented during this period focused on changing the way we view our world and the people who live in it. The two scholars who formed the foundations of the Enlightenment, Isaac Newton and John Locke, concentrated on two different subjects, but they both greatly influenced our way of thinking. Another leader inRead MoreThe Theories And Beliefs Of The Enlightenment Era1168 Words   |  5 Pagescontributed to our current understanding of the world. During the different eras philosophical beliefs influenced events and documents of the time. The Enlightenment Era, often called the Age of Reason, brought about many astonishing works deliberating the nature of human beings. As times progressed to the age of Enlightenment the different ideas surfaced changing the way humans thought of themselves. Philosophers of the time believed in the essential goodness of human nature, this was based on

The Internet Today Causes and Effects Free Essays

1996 was the year of Internet. We constantly saw and heard the word â€Å"Internet† everywhere last year. The beginning of the Internet was the computer network called ARPA (Advanced Research Projects Agency) which started in 1969 and was supported by the Department of Defense in America since they wanted the webbed network which cannot be severed easily. We will write a custom essay sample on The Internet Today: Causes and Effects or any similar topic only for you Order Now At the beginning, ARPA had been used for the military need; and when it became more commercialized, it came to be called ‘Internet’. Accordingly, you can say that the need of defense caused Internet to begin. Currently, Internet is now changing the concept of nation, the means to communicate with people and even your view of life. Then what should we do to deal with it? Can we be only a fanatic of Internet or be an anti-Internet? First, I’d like to show the positive effects that Internet has caused; then, I will move on to the negative side. Maybe you can come up with many positive effects of Internet. First, you can get the latest news on the web anytime everywhere. It must be interesting if students make a good use of the web because what teachers teach you is not always the latest thing. Even though the teacher say something to students, they can reply like this; `No, that’s not true, Mr. [Blank], I asked Dr. [Know-it-all] at [Top] University just a few minutes ago on the web, and he said [Blank-sensei is totally wrong, the correct information is . . .]’ You can have an opportunity to keep in touch with things new and what’s happening in the world now. This was not possible a decade ago. Second, Internet is changing the concept of organization or system like a nation, an ethnic group, a company and a network of people. Imagine you are Japanese living in Sweden†¦Ã¢â‚¬ ¦.you can’t speak Swedish, you don’t have any Japanese friends living your neighboring city. Maybe you’ll become nervous because you can’t get any Japanese news other than the letters from your friends. You don’t have enough money to call Japan since it’s too expensive. Once you get on Internet account, your problem will all be gone! You can chat with your Japanese friends on the web at a low price and can get any information that you want. Actually, Chinese people living all over the world are now making a network which support them each other on the Internet. For them, Internet is a very practical means to confirm their nationality and unify them as Chinese. You can be one of them (the Chinese) wherever you are. The borders between countries are fading by Internet in this way. In case of company, the differences between the classes are now fading slowly in Japan. You can say what you want to tell your boss or a company president by sending E-mail directly. Consequently, the relationship among people in the company is changing since you don’t need someone to communicate with your superior anymore. The working style is also changing; you don’t have to go to the company everyday because you can do your work at home and send what you’ve done by E-mail. You can have more free time and can change your lifestyle as you like. Fourth, concerning a network of people, Internet helped to connect and gather volunteers after the big earthquake had rocked the city of Kobe in 1995. The homepage made by one of the volunteer posted lots of information such as what refugees in Kobe need and which shelter needs helpers. Fifth, Internet is a good means to express yourself. You can make your homepage and introduce yourself there. Then some people who saw your homepage would be interested in you or your information offered on the homepage and would contact you. It can be someone from unfamiliar country that you’ve never been to. Isn’t that kind of a great meeting? Maybe you want to found your own company on the web. It’s possible now. Internet is very useful if you have something that you want to do or express. Now I’d like to state the negative effects of Internet. First, an infringement of copyright (or piracy) on the web is one of the most controversial problem that Internet has caused. It is very hard to protect the copyright since you can get any information on the web any time. You can draw some pictures offered in someone’s homepage into yours and you can copy everything that is shown on the web-which you’re supposed not to do so. Second, subversive materials posted on the web is also a big problem. It’s obvious that subversive materials like porno or the picture of a dead body are not good for you nor for children. It can happen that innocent kids cruising the web to find a toy company’s homepage stumble across the place where many horrible pictures are posted. Though Singapore’s government now started controlling and policing those obscene material on the web, there is a question to be raised: doesn’t the regulation offend the freedom of speech? The same question has also been raised from the United States when the obscene pictures on the web were prosecuted. Then, how should we protect our children from those subversive materials on Internet? Is there any way to measure the degree of the obscene materials? To make matters worse, there is currently no universal law that can supervise those problems. As you know, since Internet is worldwide, all countries must cooperate to restrict something on the web; otherwise, you can do it in the country where the law is not enforced. Third, you have to be concerned about the crime on the web. Because you can offer some information anonymously on Internet, some people can also trespass upon your privacy through Internet by spreading some information that you want to private. Furthermore, a crime on the web can sometimes be very serious. If you are a computer specialist, you could steal a secret information like the military secrets of another country. It actually happened a few years ago: a guy from Brazil stole through Internet military secrets from the Department of Defense in U.S.A. Fourth, as some people say, the Internet is a box of waste since most of the information which is offered on the web is junk. All you do on the web is just wasting your time. In addition, E-mails sometimes bother people; you can’t write back to a hundred mails! Some mails may even have nothing to do with you. Dealing with E-mail could waste a lot of your time. As I said earlier, Internet, which was first created for military use, causes both positive and negative effects today. Nevertheless, you just can’t complain all the time about the negative effects of Internet. You know that it’s too late to stop the expanding of Internet. You won’t be able to live without it. What is now demanded for us is to deal with both positive and negative side of Internet–and, hopefully, to change its negative effects for the better. by Rumiko Nomura http://www.tsujiru.net/compass/compass_1997/reg/nomura_r_3.htm How to cite The Internet Today: Causes and Effects, Essay examples

Culture and Organization

Question: Discuss about theCulture and Organization. Answer: Introduction: One of the worlds largest, well-known and globally amalgamated steelmakers is ArcelorMittal. It is an Indian multinational company with its headquarters in London and Luxembourg. It employs more than 320,000 people over 6 continents in 60 countries (ArcelorMittal, 2016). It leads the global steel market in production of steel necessary for construction, automotive, packaging and household. In research and development in this industry it stands tall as a great innovator. The present manifestation of ArcelorMittal was created with the momentous merger of 2006. Arcelor was created with mergers of different companies (Arbed, Usinor and Aceralia) placed in Luxembourg, France and Spain. Arcelor, the steel giant merged with Mittal Steel to create the ArcelorMittal. These two giants came together and they complimented each other properly. Arcelor had widespread service centre and distribution operation while Mittal had important raw materials like coal and iron ore. In June 2006, both the giants came to an agreement as equals in the merger. By September 2006 they announced a new dividend policy that would pay out 30% of net income annually. The revenue generation of 2007 was 105 billion dollars and they became the global leader. The steel production was 10% of total global output. They exhibited some overlapping in their operations. This was not like other usual mergers. A small section of cost was saved in reducing duplicate operations and functions (Friesen , 2013). This massive global endeavour needed to function at the zenith of efficiency, so the Chairman CEO Lakshmi Mittal understood the need of employees being proficient in a standard language that is used for business. For this case, English was the chosen official language. The Guy Dolle, chief executive of Arcelor dismissed Mittal as a company of Indians. The Spanish, French and Luxembourg government did not support the takeover. The initial fierce French opposition was highly criticised by Indian, American and British media for showing economic nationalism and double standards. Lakshmi Mittals Indian nationality was a hindrance for the finalisation of the deal (ArcelorMittal, 2016) ArcelorMittal had three objectives to achieve with the merger. They are: (1) facilitate rapid integration; (2) effectively manage the daily operations of the new organisation; and (3) speed up profit growth and revenue. The Environment ArcelorMittal provides safe and healthy working environment for its employees. It provides options for both part time and full time working options. They provide excellent pay for the employees who work full time. If someone is efficient enough they have potential to earn a lot here. The working environment is such that employees see each almost every day and become family instead of co-workers. ArcelorMittal dedicatedly works towards employee safety and achieving zero fatalities, injuries and incidents at their mines. They have gradually progressed in health and safety measures especially in the mining section. The first priority of ArcelorMittal is the people who work for them. With great safety measures at all mining levels zero injuries can be easily achieved in the working environment and thus, an employee joins work every day with a positive attitude. They mainly focus on eliminating all sorts of risky behaviour. The leaders at the mining section are well trained to face challenges with determination and performing the acts of leadership (Chakravarty Chua, 2012). The leaders have correctly functioning systems, personal skills and necessary tools. Irrespective of all the progress made to achieve better safety for the employees the LTIFR (lost-time injury frequency rate) dropped to 0.74 in 2014. Thus, it is extremely necessary to continuously keep updating the safety measures, identification of hazards, assessment of risk and encouraging leadership. ArcelorMittal encourages a habit of speaking up in occurrence of risky behaviour and caring for each other in the mining operations (Feldman Msibi, 2016). However the management is incompetent. They fail to understand the needs of the employees and act accordingly to them. The management have been moved to different job roles to stop any sort of further damage to the work environment in the organisation. After the merger took place and Mittal became the head, the company did not recruit anyone for audit of the organisation. Those who came were not examined about their skills and capability. The organisation heavily depends on external contractors for providing human resource for imperative roles in the company (Flores, 2013). Choosing managers only based upon their seniority might prove to be taxing for the organisation. The Central Issue Following the merger the ArcelorMittal framed three objectives: (1) facilitate rapid integration; (2) effectively manage the daily operations of the new organisation; and (3) speed up profit growth and revenue. The primary impetus for the merger was the third objective. They wanted to heighten their productivity and revenue generation by combining the complementary skills and assets. The primary step of integration needed to be achieved within six months. The MITs (management integration team) role needed to be decided along with other responsibilities. Both the parties worded in parallel and submitted their own drafts of activities. The selection committee selected the senior managers who later chose their own teams. Progress was checked every week and some plans were implemented even before the whole integration was complete. The top leaders were chosen on the basis how they could manage the cross culture collaboration and handle problems as they sprung up (Cock, Lambert Fitzgerald, 2013). An innovative way of recruiting people was taken up and it was called the road-show. They published a website along with web TV. There was much confusion and uncertainty among the workers because of the merger and how they would be impacted by it. The managers were directed to speak to the employees about the importance of the merger and the new direction of the organization (Kelly, 2012). The first step of integration ended the next year of the merger during a conference which was attended by more than 500 top managers of the company. The top managers flew out to the major sites of operation. The new ways of functioning was communicated to the local managers (Gaughan, 2013). They took help of media interviews to spread the message to everyone. Journalists were allowed to visit different operation sites to judge the progress of the organization. The customers were also updated about the benefits of the merger that took place. ArcelorMittal set the target of 1.6 billion dollars for cost savings annually. With optimised operations and the integration objectives helped them to realise the target they had set for themselves the following year. The central issue of ArcelorMittal is the cultural problems that the new organisation faced after the merger. The first problem they faced in culture differences is communication. Internal communications are extremely important but there was a hindrance because of different time zones and cultures. There was a need for frequent conference calls between the CEOs, employees and management. Second, redundancies needed to be avoided as the merger took place (Ferraro Brody, 2015). Rotational shifts, early retirements and voluntary retirement schemes were launched to cope with this problem. Third, a lot of people lost their jobs after the merger, which something very normal. They were dealt with as much care possible and the company took responsibility of them. The voluntary salary deduction of the managers was a necessary step. Hofestede Model Hofstedes cultural dimensions model is a theoretical framework that is developed by Geert Hofstede for cross-cultural communication. Many companies use Hofstedes theory as a strategic tool for becoming more efficient in strategic management. The world has become a global village. Cross-cultural issues and cultural differences are the aspects that are considered in the model by Geert Hofstede. The theory is applied to different aspects of research apart from companies such as cross-cultural psychology, intercultural communication, and international management. Cross-cultural issues and cultural values are analyzed in the model (Mowday, Porter Steers, 2013). The model of cultural dimensions consists of six primary dimensions such as individualism, long and short-term orientation, indulgence, power distance, masculinity and uncertainty avoidance. Power Distance Index: It is defined as the degree of extent in which less powerful organizations expect and accept unequal distribution of power among them. Higher degree in power distance index implies a hierarchy that is established in the society. Lower degree in the index defines that people will question the power or authority. Individualism vs. Collectivism: The index is characterized by the extent where people are integrated into different groups in society. In this index, society is divided into two categories namely individualistic society and collective society. People of individualistic cultures are loosely attached with one another (Martin, 2016). They emphasize individual needs first rather than collective needs. People of collective societies are related to each other by integrated relationships. They support their family members with loyalty and stand beside them during the time of conflict. Uncertainty Avoidance Index: It is defined as the tolerance level of society for ambiguity. The index describes nature of the people who behave abruptly or in an unexpected manner. People embrace an event unexpectedly. Higher degree in uncertainty index usually opts for strict codes of ethics, laws, guidelines and behaviour (Minkov Hofstede, 2014). Lower level in this type of index reflects more acceptances while differentiating various ideas. Masculinity vs. Femininity: This dimension is defined as the preference of people for assertiveness, heroism, achievement, etc. These are known as characteristics of masculine societies. Feminine societies represent caring, modest attitude, etc (Wang Bansal, 2012). Long-term orientation and indulgence are another two dimensions of the cultural model of Hofstede. Comparison Between Hofstede Model with Shein Model Many theoretical models of organizational culture describe various aspects of ideal culture followed by organizations in real life. The theoretical frameworks suggest companies to follow the culture that will help in smooth flow of operations. The report will discuss about another model of organization culture. Schein model of organization culture will be described along with pointing comparison with Hofstedes model. Scheins model of organization culture illustrates three different types of organization culture. They are espoused values, behaviours and artifacts and shared basic assumptions. Dimension of behaviour and artifacts refer to tangible, verbal and overt elements of an enterprise. Artifacts of a company include official jokes, dress code and furniture. Stated values and rules of behaviour are included in the espoused values of the organization. According to the theory of Schein, employees of a particular company highlight the organizational culture to the world and to themselves. The dimension of espoused values is illustrated in terms of official philosophies and public statements. Organizations will face problem if the espoused values is not aligned with the deeper tacit of organization culture. Employees are the assets of a company. They can be the initiator of organizational culture of a particular enterprise. Assumed values and shared values are very important dimension of the model . Mindset of people associated with a company can be influenced by organization culture. There are certain beliefs and facts that cannot be measured. These are the intangible elements of the model. Hidden factors of the employees of people create an impact on the organizational culture. Sometimes, employees assume few values of their own that may not align with the culture practised in the company. Inner aspects of nature of human beings are not controlled by organization itself. Apart from that, Schein model also supports cultural change in a company. A third level organization culture is created for the sake of changed mindset of employees in a company. Cultural change is possible only when workers of the enterprise will accept changes required for development. A process includes transformation of behaviour. According to Schein, culture is not developed in a single day in an organization. Employees adapt changes in the culture of the company in due course of time. Both changes in external and internal environment are mandatory in terms of adapting new organization culture. However, Hofstedes cultural model is implemented in this study rather than Scheins cultural model. Both models are different from one another. Two models illustrate different aspects of culture practised in organizations. Six dimensions of Hofstedes model perfectly describe the issues faced by the company ArcelorMittal in different parts of the world. For instance, ArcelorMittal is mainly facing issues in communication that is explained by the dimensions of Hofstedes model. Power distance, uncertainty index, individualism, indulgence, etc. are present in Hofstedes model but are absent in Scheins model. The cultural issues are formed due to the diverse nature of people that are illustrated using the dimension of power distance. It is the reason of choosing Hofstedes model over Schein model for relating the cultural issues of ArcelorMittal in the study. Lack of training module is the cause of miscommunication in the company that results in individualistic mindset instead of collectivis m. Apart from that, it also creates employees short-term oriented which is a drawback for the company. Cultural Issues of ArcelorMittal After Merger The two steel giant companies Mittal and Arcelor merged in the year of 2006. The merger of the two companies led to several problems that are grouped into several categories. Cultural issues are the areas of discussion in the article. After the merger, the new company is one of the largest steel-making company in the world. The newly merged company ArcelorMittal is facing cultural issues like accessibility, integration, exact problems, personalization, defective training of the employees, etc. Previously the company has provided classroom training to all its vendors and employees (De Mooij, 2013). However, after the merger, the company is operating in multiple countries such as Brazil, Argentina, and other European countries. Classroom training is not feasible for this type of setup of the enterprise. The facilities, vendors that are located in the countries of Brazil and Argentina, are very scattered in nature. Multiple vendors of the company are located in numerous locations (Bakir , Blodgett, Vitell Rose, 2015). It is the reason of incurring massive losses in the field of training provided to the employees and the vendors. Classroom training for each employee incurs a huge cost per worker while providing training by the company. It is becoming next to impossible for the company for providing training to vendors located at scattered locations (Parry, 2013). Apart from that, the company is facing difficulties in measuring the Return on Investment (ROI) across the whole organization. Integration management along with its accessibility is a cultural problem encountered by the company. The communication problem is the core issue that gives birth to different cultural and operational problem of the organization. The main issue arises due to lack of knowledge of English language of the vendors. Vendors are not able to communicate with their supervisors that lead to problems in organizational culture and operational issues. English is a universal language, but local people of South America prefer local languages to the English language (Birat, 2013). However, due to deep functional integration, the training provided to the vendors is not correct all time. Moreover, the employees of the organization are not provided with right training about the usage of proper tools and equipment that would help them in improving their English language skills (Friesen, 2013). Due to the above issues, the employee relations of the company with its workforce are at stake. Co-ordination among the employees is almost nil in many countries that results to decentralization of authority among teams. Usually, these problems are evident in underdeveloped countries, which have people of short-term oriented (Leblanc Normand, 2015). The merger of ArcelorMittal faced many problems apart from cultural aspects. The company faces problems in its operations, finances, management, employee relations, etc. The main problem is surrounded on integration aspect. However, the success of the merger had not met the expectations that was set previously. A lot of goals and objectives are set at the time of formation of merger. Apart from facing many problems, the merger is recognised as one of the greatest merger in the industry (Vitell, Nwachukwu Barnes, 2013). The issues faced by the company are mainly failure of the existing strategies in the sphere of operations. The existing methods of training and development used by the companies for the development of the employees and vendors are not sufficient for meeting the rate of productivity. Due to the issue of communication, the managers of many countries are not linked with one another that result in decreased level of productivity. However, the junior level managers and vendors are the group of employees who are associated with one another for business operations. It is already mentioned earlier that the module of classroom training is not up to the mark for meeting the requirements of the employees. It is the reason of loss the company is making due to internal aspects. Cross-cultural communication among the senior level of employees is a cultural issue that is a vital cause of miscommunication in the company (Chan, 2015). Sometimes it also causes misunderstanding among different executives that result in reduced level of productivity along with less profitability. Relation of the Problem with the Theoretical Model There are many challenges faced by the merger company that is discussed above. The cultural issues are pointed out in the study that is related to the cultural model of Hofstede. Hofstede's model describes national culture along with organizational culture. Using Hofstede's model, the problems of ArcelorMittal can be discussed in the light of various dimensions of the above model. Problems in training, integration, communication, etc. are linked to the dimension of uncertainty avoidance, short-term vs. long-term orientation, restraint vs. indulgence, etc. The linguistic problem faced by the vendors and employees results in various internal problems within the company. Uncertainty avoidance is the problem that is faced by the enterprise due to the wrong training program (Hill, Jones Schilling, 2014). Employees of the organization are suffering from uncertainty in many countries due to the communication problem. People will react in an abrupt manner if they find that there is any difference in the organization culture. This will lead to negative impact on the mind of the workers and vendors of the company (Kinloch Metge, 2014). Again, the changed mindset of the people will give rise to a short-term oriented mindset of individuals. It has both positive and adverse effects on the profitability of the company. The numbers of long-term oriented people in the company are gradually decreasing due to the cultural issues and problems. According to Hofstede's model, countries have varied level of tolerance in the society. The difference in the varying nature of organization culture with the national culture will lead to lower level of power index (Feldman Msibi, 2016). The lower level of power index of the employees will question the authority of power. Employees of the company behave differently belonging to different categories of societies such as restrained societies and indulgent societies. Linguistic problem among the employees are responsible for creating a distance among them. Hence, people of restrained societies are suffering the most. The culture of collectivism is usually followed by the employees of the company in countries like India, Argentina, Brazil, etc. They maintain integrated relationships. However, problem in communication is responsible of delayed productivity as well as poor employee relations. In the masculinity and femininity index, there are no such issues faced by ArcelorMittal in its operating countries. However, the cultures of masculine societies are followed in most of the operating countries. Female employees in some cases faced problem for the strong admiration. Conclusion The study discusses the company background of the merger company ArcelorMittal along with its competitive environment. The business environment of the company is healthy in the perspective of the employees. However, the management of the organization is not so much competent enough to solve the issues of the employees and vendors in different countries. Before the merger, the two steel manufacturing companies have different organization culture which clashes after the merger. The enterprise failed to solve the cross-cultural issues faced by different levels of managers in different countries. After pointing the cultural issues, it is the responsibility of the HR managers of the company to solve various cultural problems. The steel manufacturing company is making losses for meeting the return on investment within a stipulated time. Recently, the merger enterprise is focusing on mitigating the problems faced by it. To solve problems, it is necessary to know the core reasons of the issu e. By detecting the core causes of the problems, strategies are to be formulated which will improve the current situation of the company. References ArcelorMittal. (2016). At a glance. Retrieved from: https://corporate.arcelormittal.com/who-we-are/at-a-glance Bakir, A., Blodgett, J. G., Vitell, S. J., Rose, G. M. (2015). A preliminary investigation of the reliability and validity of Hofstedes cross cultural dimensions. In Proceedings of the 2000 Academy of Marketing Science (AMS) Annual Conference (pp. 226-232). Springer International Publishing. Birat, J. P. (2013). Foreword to this special issue on the Society Materials seminars. Revue de Mtallurgie, 110(1), 1-1. Chakravarty, V., Chua, S. G. (2012).Asian Mergers and Acquisitions: Riding the Wave. John Wiley Sons. Chan, W. (2015). Design Project IIArcelorMittal Recycling. Cock, J., Lambert, R., Fitzgerald, S. (2013). Steel, Nature and Society. Globalizations,10(6), 855-869. De Mooij, M. (2013). On the misuse and misinterpretation of dimensions of national culture.International Marketing Review,30(3), 253-261. Feldman, A., Msibi, S. (2016). Influence of cross-cultural leadership on organizational culture: Arcelormittal, Newcastle, a South African perspective. Ferraro, G., Brody, E. K. (2015). Cultural Dimension of Global Business. Routledge. Flores, P. J. (2013). Group psychotherapy with addicted populations: An integration of twelve-step and psychodynamic theory. Routledge. Friesen, E. (2013). ArcelorMittal: Metals Mining: Equity Investment Report (Doctoral dissertation, NSBE-UNL). Gaughan, P. A. (2013).Maximizing Corporate Value Through Mergers and Acquisitions: A Strategic Growth Guide. John Wiley Sons. Hill, C. W., Jones, G. R., Schilling, M. A. (2014). Strategic management: theory: an integrated approach. Cengage Learning. Kelly, J. (2012). Rethinking industrial relations: Mobilisation, collectivism and long waves. Routledge. Kinloch, P., Metge, J. (2014). Talking past each other: problems of cross cultural communication. Victoria University Press. Leblanc, S., Normand, P. (2015, January). The challenges to achieve and maintain a safe electrical workplace. In 2015 IEEE IAS Electrical Safety Workshop (pp. 1-4). IEEE. Martin, J. (2016). Myths of Renaissance individualism. Springer. Minkov, M., Hofstede, G. (2014). A replication of Hofstedes uncertainty avoidance dimension across nationally representative samples from Europe. International Journal of Cross Cultural Management,14(2), 161-171. Mowday, R. T., Porter, L. W., Steers, R. M. (2013). Employeeorganization linkages: The psychology of commitment, absenteeism, and turnover. Academic press. Parry, J. (2013). Company and contract labour in a central Indian steel plant. Economy and society, 42(3), 348-374. Vitell, S. J., Nwachukwu, S. L., Barnes, J. H. (2013). The effects of culture on ethical decision-making: an application of Hofstedes typology. In Citation Classics from the Journal of Business Ethics (pp. 119-129). Springer Netherlands. Wang, T., Bansal, P. (2012). Social responsibility in new ventures: profiting from a longà ¢Ã¢â€š ¬Ã‚ term orientation.

ATV Ride Gone Wrong free essay sample

I look back and see a cloud of dust—as I get to the crash site, I see blood pouring from Travis’ face. I have to act quickly. I survey the damage that just occurred to my now totaled ATV and my bleeding friend. I remember I had put a sweatshirt in the box on the back of his ATV. I run over and get it out. I say, â€Å"Apply pressure to your face to try and slow the blood flow.† Travis is a United States Marine and is usually quick to think of a solution. But in this case, I am the one in charge. I know I need to call an ambulance, so I pull out my phone. No service. I quickly think of a different solution because Travis is losing blood. I put him on my ATV and say, â€Å"Hold on to me as tightly as possible and keep my sweatshirt pressed against your face. We will write a custom essay sample on ATV Ride Gone Wrong or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page † Weaving through the trails isn’t about fun—it’s about saving my friend’s life. Is it around this curve or the next? They all look the same. The crash site is still 10 miles away from where we parked the truck. But I press on. No one is on the street or driving past. Everything is quiet. Finally, the 9 Mile Bar is in sight. But this only marks a fraction of the trip. I removed Travis from my ATV and take him in the bar where people help me clean his face. I ask, â€Å"Should I call an ambulance?† A bar patron responds: â€Å"No it’s going to take them longer to find us. If you take him now, it would be much faster, and judging by his wounds, you had better hurry.† So I detach the trailer and get him back in the truck. My cabin is only a few miles away, and I didn’t know how to get to the hospital, so I take him to the cabin to have my mother (a registered nurse) check him out. When we arrive at my cabin, my mother immediately rushes him to the hospital. He needed 57 stitches around his eye socket and his nose was shattered. When we were riding, we came up on an â€Å"S† curve. As the leader, I went through it and kept on my way. But then a hawk came down from a tree and swooped in front of me, inches from hitting me. I looked back to see if Travis saw what that hawk had done—but instead I saw a cloud of dust. , Coming through the â€Å"S† curve, Travis followed too closely and got dusted out. This caused him not to see the second half of the curve. By the time he saw where he was, it was too late. He hit a drainage pipe on the edge of the road, which tipped his ATV. He then hit a tree, causing the handlebar to go through his facemask and smash his face. Even though he was wearing a helmet with a windshield, the handlebar caused substantial damage to his eye and nose. If he had not been wearing a helmet, his injuries could have been fatal. And If I had not been with him, there is a good chance he would not be here today. Based on my quick thinking and my actions, I saved my best friend’s life. And he is now back overseas defending our country.

The eNotes Blog Do It Now Advice from Doris Lessing and Junie B.Jones

Do It Now Advice from Doris Lessing and Junie B.Jones The world lost two influential literary voices this week.  Nobel Prize-winning author Doris Lessing, best known for her novel The Golden Notebook,  Ã‚  passed away Sunday at age 94.  Ã‚  And Barbara Park, author of the beloved childrens books featuring her irascible character  Junie B. Jones, died Friday after a long battle with ovarian cancer.   Park was 66. While it may not seem that these two very different authors have a lot in common, what Park and Lessing shared was a love of vocal women as well as sense of appreciation for life and its transient nature. Park captured what few writers for children manage to do successfully: the energy and curiosity of a girl with a questioning mind.   For her part, Lessing was always adjusting the lens.   As we get older, the clarity of a Junie B. Jones is harder to maintain, but Lessing asks us to remember, and to seek the authentic in an often exhausting world. I wonder what Junie B. and Lessing might have to say to each other: Lessing:   Ã¢â‚¬Å"Whatever youre meant to do, do it now. The conditions are always impossible.†Ã‚   Junie B:   Sometimes when Im noisy, she [the teacher] claps her loud hands at me.  It used to scare me very much. Only then I got used to it. And now I dont even pay it any attention. Lessing:  Ã¢â‚¬Å"I am a person who continually destroys the possibilities of a future because of the numbers of alternative viewpoints I can focus on the present.† Junie B.:   Another grandma came in. And she runned over to that Jim I hate. And she tried to hug him very tight. Only that mean Jim just kept on standing there. And he didnt even hug her back. I tapped on her. I will hug you, I said. And so then me and her hugged real tight. I hate your grandboy, I said very sweet. Lessing:   Ã¢â‚¬Å"As you get older, you dont get wiser. You get irritable.† Junie B.: â€Å"Our nannas are losers.† Lessing:   Ã¢â‚¬Å"That is what learning is. You suddenly understand something youve understood all your life, but in a new way.† Junie B.:  Ã¢â‚¬Å"I dont even  like  clowns. Clowns are not normal people.† Lessing:   Ã¢â‚¬Å"Whats terrible is to pretend that second-rate is first-rate. To pretend that you dont need love when you do; or you like your work when you know quite well youre capable of better.† Junie B.: Do you have the rich kind of house? Or the regular kind of house? I asked her. Cause I just have the regular kind of house. Except for mother wants the rich kind. Only daddy said lotsa luck. Lessing:   Ã¢â‚¬Å"Laughter is by definition healthy.† Junie B.:  Ã¢â‚¬Å"A little glitter can turn your whole day around.†

RCP 3 Chapter 3 Coursework Example | Topics and Well Written Essays - 750 words

RCP 3 Chapter 3 - Coursework Example Have more limited administrator-related rights over the firewall systems. An example is when a network analyst blocks particular IP address from accessing the network under the directive of the lead network engineer. Operation under the directive of the lead network engineer prevents instances of malicious analysts configuring networks to allow for penetration by IP addresses that are already blacklisted by Data Mart. Have uncontrolled privilege on the operation of the firewall system. An example would be ensuring that every computer system or internal network passes through the firewall before permitting a user to reach a logon banner. Has a restricted permission over the rack mounted server. Allowed to carry out simple tasks like sending HTTP or HTTPS requests using client browsers. Otherwise, allowing users to control the server can result into leakage of Data Mart-owned information to the general public. Have limited administrator-related privileges on the manner of operation of the server. An example of a privilege would be retrieval of the backed-up data following any incidence of loss or damage. Granting power users full administrative privileges on server operation can lead to issues like Denial of Service attack. Have wholesome control and privilege on the operation of Data Mart-owned router. An example is the privilege to configure the router so as to be capable of performing the traffic directing roles in an effective way. Have limited user permissions and rights like reading content. An example is an online customer viewing the options of cloud platforms offered by Data Mart. This measure is appropriate because a larger number of malicious users of database systems are found among this user category (Meghanathan & CNSA, 2010). Have more limited administrator-related rights like deleting or updating existing records. An example