Survey Report

The aim of this report is to present the findings of a survey carried out in order to determine the public opinion and performance of Lambshorne Town Council. The data included in this report was obtained from a random sample of 1,000 people. Services On the whole, the ratepayers of Lambshorne expressed dissatisfaction with the services provided by the Council. A significant percentage felt that neither refuse collection nor recycling facilities are adequate, as illustrated by the fact that over half of those questioned felt that these are poor. On the other hand, a large proportion of the public was of the opinion that maintenance of public buildings is satisfactory, which is shown by the fact that forty-nine per cent of those questioned expressed their approval. This is further emphasized by the fact that fifty-one per cent of those surveyed commented favorably on the restoration of the Corn Exchange building. Amenities It is generally felt that public facilities are of high standard, as shown by a large proportion of those surveyed expressed satisfaction with amenities. Furthermore, sixty-eight per cent of those questioned indicated the excellent condition of the new sport center. The fact that only eleven per cent of respondents gave a negative response concerning public parks indicates that ratepayers are mainly satisfied with its conditions. Opinion was mixed regarding other amenities, with an almost equal number of â€Å"Good† and â€Å"Poor† assessments. In particular, thirty two per cent of those surveyed mentioned that Maplegrove Housing Estate needs more street lights. Council Efficiency On the one hand, it is generally felt that staff efficiency is not adequate which is shown by the fact that majority of people expressed dissatisfaction with staff efficiency. On the other hand, the significant percentage of those who responded expressed satisfaction with cost efficiency of services. Opinion was mixed regarding the helpfulness of staff, with an almost equal distribution of â€Å"Good† and â€Å"Poor† assessments. The sixty-four per cent of people were of the opinion that Council has too many employees for work done. Recommendations On the bases of the findings on services, it would seem that services provided by the Council need to be improved. The main weaknesses of services are the lack of refuse collection and recycling facilities. As the assessments of amenities indicate, public parks and recreation facilities are satisfactory. My recommendation is, therefore, that more street lights should be set up. Based on the opinion regarding the efficiency, I would recommend that staff efficiency should be revised.

Jeffrey Young Believes That Moves Towards ‘Upmarket Burgers’ Essay

Jeffery Young has this belief that there would be a positive shift towards ‘Upmarket Burgers’ Well I believe this point to an extent as we have approached to the generation; people of all ages go for a healthier option as it has become a trend for all ages. But as the economy improves there would be an increase of income therefore a quality market opportunity. But the Future is unpredictable as we are presently in Double-dip recession as we have no idea how the future is going to be The local Community would go for a Low-Priced but good quality food but the disadvantage would the company GBK may fail as it does not have as many consumers as it is highly prices, overall I conclude It all depends on the Income of the economy. On the hand I have a stronger belief that the fast food Franchises (A franchise is a right granted to an individual or group to market a company’s goods or services within a certain territory or location), in this case it is called the ‘Low-market Burgers’ will not go extinct because the franchises like McDonalds, KFC, Burger King and Subway have the following USP’s (Unique Selling Points). Well it has food at a lower price which they specialise in which is affordable to the local community who do not have enough of income to buy ‘Upmarket Burgers’ at a daily rate. The second reason that they are more recognised as they have a recognisable trademark (a symbol, word, or words legally registered or established by use as representing a company or product.) for Example:- For McDonalds there are the two golden arches which is in the shape of an ‘M’. And also their reputation known world-wide, as they are set in the best locations for these small franchises and services, they are almost found along each mile near a town centre. To Conclude I would say that the franchises like McDonalds, Burger King, KFC and Subway will not go into extinction as the customer loyalty increases through the years whereas the customer loyalty for GBK(Gourmet Burger Kitchen) will have a decrease because of their high quality, high priced products. Therefore, a reduction of GBK stores.

Post Colonial Essay

PostColonial Literature Essay 3. With reference of at least two short stories from the course, consider in what ways either Desai, Munro, Galgut and Rushdie’s stories are Postcolonial texts. You may consider issues such as home and homelessness, absences in the text, place, positionality or anything you feel is relevant to your attempt at decoding postcolonial identities. Post-colonial literature can be considered as a body of literary writings that reacts to the discourse of colonization. Post-colonial writers focus on issues such as de-colonization and the political and cultural independence of people formerly subjugated to colonial rule. However post-colonial literature cannot be described only by the definition above, many other issues have to be considered in order to fully understand post-colonial texts. In order to understand post-colonial texts, one has to focus on two post-colonial writers: Anita Desai and Damon Galgut. To begin with, Anita Desai is an Indian novelist and short story writer, especially noted for her sensitive portrayal of the inner life of her female characters. Desai prefers the concerns of Westernized, middle-class characters rather than those facing the majority of India. Desai has comments on her work â€Å"My novels are no reflection of Indian society, politics or character. They are my private attempt to seize upon the raw material of life. † â€Å"Diamond Dust†(2000), a second Desai’s short story collection, features a selection of tales set in North America and India, Indian characters and concerns figure in all of them, illuminating Desai’s thematic preoccupation with the psychological effects on multiculturalism. A short story called â€Å"Five Hours to Simla or Faisla† was written by Desai. Shubha Tiwari in â€Å"Critical responses to Anita Desai† argues that â€Å"Five Hours to Simla Or Faisla is one of the most successful stories in this collection because of the clarity of the motives in it. It is a humorous story about the adamant attitude of a Sardarji causing a good deal of tension to the travelers on the way to Simla. † In my opinion, â€Å"Five hours to Simla or Faisla† can be called as a post-colonial text for many reasons. First of all, I think that key character is a crucial thing while talking about post-colonial texts. A key character in this text is really important as short stories tend to be more interesting in characterisation. In this story the key character is the mother’s character as it shows tradition-bound patriarchal culture in India: mother’s responsibility to take care of children and not having a say in the family, being less important than the father / husband. At that stage Desai tries to focus on middle-class women in contemporary India as they attempt to overcome social limitations. Writers’ qualification is also very important in post-colonial texts as it reflects why the author chose to talk about this particular subject in their text. Desai’s qualification is feminine and we can see why mother’s ( the wife’s) character is such an important thing in this short story. Her qualification is also somehow engaged in as to why her daily life is occupied with the complexities of modern Indian culture from a feminine perspective, while highlighting the female Indian predicament of maintaining self-identity as an individual woman. Being an immigrant, Desai sees differences between her culture and Western world. Talking about the mother’s character, she tries to show the limited opportunities for women in Indian society; she tries to find the dissolution of traditional Indian values and Western stereotypes of India. Talking about central characters, we can consider family as central characters in this story as Desai focus on family relationship so much in this text. She talks from a third person perspective â€Å"she†, â€Å"he† and she never mentioned family member names, so she place very long distance between readers and family-unnamed characters makes a little bit difficult to talk about them for readers. Secondly, language/style is also really important in post-colonial texts. Desai’s literary language is not her native language, but English. She uses fluid language and a less flaky, descriptive style. She writes in a very natural way. This text is really interesting in linguistic terms, for example Desai in this text uses words such as kohl which means German politician who served as chancellor of West Germany. We can see here that Desai tries to focus on her real roots as her mother was German. Thirdly, it is worth to talk about identity in this text as identity is a key issue in post-colonial text. Desai use this story to solidify, through criticism and celebration, an emerging national identity, which she has taken on the responsibility of representing. Desai in this text represents post-independence India while she is talking about traffic jam. Traffic jam is like a symbol (symbolism is also an important thing in most post-colonial texts) of the stagnancy of the Indian society: India had never formerly existed and so it a huge issue – national identity crises in India. Traffic jam also symbolizes that members of a postcolonial society have an identity which has been shaped jointly by their own unique cultural and community history, intertwined with that of the colonial power. Desai tries to show cultural and social changes that have swept India since its independence from Britain in 1947. Key passages also play a vital role in post-colonial texts. The text I have chosen is: †She did not need to draw upon her thumb juices for long. The news of the traffic jam on the highway had spread like ripples from a stone thrown. From somewhere, it seemed from nowhere for there was no village bazaar, marketplace or stalls visible in that dusty dereliction, wooden barrows came†¦Ã¢â‚¬ (p. 122) I think that this passage shows that the market place finally appeared in Indian society. Market place at this stage is very important as it represents the centre of the community; it connects community together again after British oppression; it is like a sense of community even in stagnancy; it represents a whole nation again. It is always important to look at the title in post-colonial texts. The â€Å"Five hours to Simla or Faisla† title is no exception. Of course, we first look at Five hours to Simla because it makes sense for us- and the text in general represents it, but when we are looking deeper in the text context we make sure that Faisla is an important part of the title too. Faisla in English means judgment/ verdict, so how it is relative to this text? Traffic jam as I said is a symbol of stagnation of the Indian society. It also represents that Indian people are waiting someone to take control of India; to connect all religions together into one India identity/ into one native India. India was damaged by being colonized, so who will bring this country together? Indian people really need someone to take a verdict/leadership. Opening and ending of the text are essential parts of analysis of the post colonial texts too. Desai ends her text with no great judgment and resolution. Short story writers are tend to leave things open. They can’t really solve the problems, but they can represent the problems from all angles and allows people to judge. Another short story, which I would like to analyze is â€Å"The Lover† from â€Å"In a Strange Room† (2010) written by Damon Galgut, a South African novelist. I will start with a speaking person. The narrator is sometimes referred to in the first person singular, sometimes in the third. All this makes connection and at the same time disconnection in one’s mind, especially because Galgut is free and easy with conventional punctuation. Galgut writing style and punctuation is unusual in a way that he does not use any questions marks. Identity is also very important figure in this text. We can see that identity in this text is a migrant identity- the main character in this text is lost in this world, â€Å"he has not made a home for himself†. By this text, the author means that the character has not found a place in the world that he could call home, he doesn’t feel right, and is trying to find a place where he would feel accepted and content. Therefore he travels to Zimbabwe, without having planned anything â€Å"No particular intention brings him to Zimbabwe, all those years ago. He simply decides one morning to leave and gets on a bus that same night. † He also tries to find this place, that in his imagination he could call home. In the text the narrator says â€Å"Somebody has a map and knows which way to go†, he refers to how other people are different than him in a way that they have planned their routine, and have a place they can call home, whereas he hasn’t got any routes or plans, as he feels lost. In my opinion, him travelling around, symbolizes the fact that he is lost. He is trying to change his surroundings, he is trying to find a community, home, to find someone to love. â€Å"If I was with somebody, he thinks, with somebody I loved, then I could love the place and even the grave too, I would be happy to be there. † He emphasizes the fact that he is desperately trying to find a lover, a person who he would love, and that that person would make the surrounding right for him, that only then he would feel happy in the place. The character feels guilt, because he is trying to find a place that he could call home, and a person that he could call his lover, but fails to do that, and therefore he feels guilty. The title â€Å"The Lover† reflects the whole point of this story. In my opinion, the title refers to that person that the main character is looking for throughout his journey. That person in my opinion is the Irish woman that he meets in the hotel and starts his journey. We are told that the moment when they leave the hotel, him and the Irish woman, is the moment when the â€Å"real journey begins†. Sometimes it happens as you leave your house, sometimes it’s a long way from home. † We are told that even though the main character of the story has travelled for a while, his journey has only begun at that time when he, and his ‘lover’, leave the hotel, to go to Malawi. Even though there is no evidence that the woman is feeling any romantic feelings for him, his jo urney only begins now, and this Irish woman gives him hope, and he thinks that she could be her lover, in my opinion. Class issues are very obvious in this text. The officials at the border of Malawi are described as very ignorant, and incompetent. This is due to the fact that when they were told by the tourists, that they were informed by their embassy that they wouldn’t require a Visa. After that the officials shouted at them, and told them that they were wrong, and sent them back to get the Visa. This shows that the officials aren’t well informed, and also badly mannered. This goes to show that the stereotype that most African’s are very narrow minded is still very much true. They wouldn’t allow foreign people to go through the boarded without a Visa, even though it wasn’t required, but they did allow some South African’s through without a Visa. In conclusion, I believe that in order to understand post-colonial text you may consider issues such as identity, story title, characters, language, style, key passages, home and homelessness, place and etc. References: Anita Desai (2000). Diamond Dust, â€Å"Five Hours to Simla or Faisla†. Damon Galgut (2010). In a Strange Room, â€Å"The Lover†. Hart, Jonathan; Goldie Terrie (1993). â€Å"Post Colonial theory†. In: http://books. google. com/books? id=CTJCiLG9AeoC&pg=PA155#v=onepage&q&f=false Word count: 1,967.

Journel 4 Essay Example | Topics and Well Written Essays - 250 words

Journel 4 - Essay Example t about the menu, but it is written separately in the poem which, I guessed, meant that the poetess wants to talk about everything that she has not got in her life. I guessed that it meant that the joy of reading the menu and fantasizing the food she had ordered was so big that she had forgotten about all the worries of life and whatever she had not been blessed with. I always read a poem by looking at its message that the poet has in mind, and while reading this poem, the same thought of finding the message led me towards Harkin’s convention of significance. I was frustrated at the start when I gave the poem the first go-through, because I was not able to understand what the lines â€Å"It’s when the artichokes†¦and leather† (lines 6-15) meant, and whether they were related to the poem, but a second go-through made me understand that these lines showed the girls’ excitement. The poem is a little unconventional because it is not simple to understand, but is interesting at the same

Environmental science assignment Essay Example | Topics and Well Written Essays - 1000 words

Environmental science assignment - Essay Example (MacFarlan & Sgherri, 2001) Research has also demonstrated that there is a direct relationship between the extent of HIV prevalence and the severity of reduction in growth of gross domestic product in a country. (Piot et al, 2001) Many children in Botswana are growing up with one parent, and a growing percentage are growing up having lost both parents to AIDS or to concomitant infections. It has been suggested that the increased population of orphans could have a negative effect on biodiversity caused by excessive reliance on hunting and food gathering of children orphaned by AIDS. It also seems extremely likely that the dispensation of human bodies could prove problematic, as any mechanism for caring for the dead could involve contamination of air or groundwater. Further studies must be undertaken to fully understand the ramifications of AIDS infections and deaths on the environmental status of Botswana and other South African countries. 1d) The US and Canada could take many steps t o reduce the prevalence of AIDS in Botswana and in sub-Saharan Africa in general. For one, working to equalize treatment of women would go a long way toward preventing new infections. Supporting programs to educate girls and women would reduce infection, and providing safe spaces for girls and women would prevent infection through rape and other nonconsensual sexual acts. The Stephen Lewis Foundation funds educational programs for young women and girls in an effort to empower them to protect and support themselves. 2) Precautionary Principle â€Å"The precautionary principle sets forth no positive obligation; it simply reminds legislators that they cannot wait for proof of a cause-effect linkage between a given substance, process, or activity and environmental harm before acting to reduce or eliminate the risk of this harm.† (Ellis, 2006) As a justification for public health policy in particular, the precautionary principle has serious drawbacks. Likewise, a company seeking t o introduce a novel substance or process into the environment ought to demonstrate the safety and efficacy of that novelty before being permitted to act. Critics have stacked precautionary practices because they have "produced and promoted ineffectual environmental policies." (Gardiner, 2006). This practice presupposes that human beings fully understand their environment, and that they fully comprehend the ramifications of that. Suppose a process designed to remove chemical pollution from the air was introduced, and that this process involves the use of heavy metals to bind the aforementioned chemical pollution. How would the resultant toxic slurry be disposed of? What about potential harm to individuals working to implement the law? These questions and more would have to be addressed in a satisfactory manner before the process should be legalized, and companies permitted to go forward with implementation plans. Anyone wishing to introduce a new chemical, industrial process, land us e change or any other significant and novel development into any society should absolutely be required to demonstrate not only the safety but the efficacy of that development and transparency of intent before they are permitted to introduce it, even if they are ostensibly acting in the interests of public health. All too often, the needs of large corporations are valued over those of individual human beings. Anyone who stands to make a profit from the introduction or implementation of a novel venture ought to be prohibited from sponsoring

Creating and Marketing a new product Essay Example | Topics and Well Written Essays - 3000 words

Creating and Marketing a new product - Essay Example But on the other hand complications have also increased as we try to understand and use each of the gadgets separately. It is from these complications that we have identified a new need of getting everything available to users in a single device. The product we have come up is called ‘E-Wall’ which will help users of technology manage everything from a single place using a single device. In this report we will talk in detail about the product, marketing plan and strategy, business strategy, and operations. We will also discuss how we will establish it as a legal entity and protect the innovation from being copied by any company. We will also establish the target market of the proposed product. E-Wall E-Wall is an electronic wall that will act as a screen. This screen will display everything that a person needs to carry out his or her daily technology related operations. The screen will serve as a laptop, television, cell phone etc for users. Basically everything users wa nt will be displayed on the E-Wall and users will be able to control it through a tablet. This tablet will serve as a key board for users which they will use to change icons on the wall. The aim of the technology is to bring everything together in one place so that users can easily access it. The device will also save space as it will be placed on the wall. Only a small server will be attached to the screen to feed data into the wall. The main purpose of E-Wall is to integrate all the present technology currently being used by the people worldwide. There is a need to join them together so that users can get a single point of access. Another purpose of the product is to make everything easily available to users of technology. The idea behind E-Wall is to get everything on a single wall so that everything can be managed easily. This product will not only make access to different technologies easily. E-Wall will display everything on a large surface (wall) which will increase visibilit y and also users will be able to use everything without even moving from one place to another or without juggling different devices at the same time. E-Wall will serve as a display screen for all of the existing technology. It will just integrate existing technology into one device. A key attribute of the device is that it will allow users to access everything on the E-Wall through a touch screen tablet. This will allow mobility without compromising on size of the display or the number of technologies available. This key advantage will make this device desirable for many segments of the society. Establishing Legal Entity It is important to form a legal entity in order to operate any official business therefore we have decided to form a Limited Liability Partnership company. This is type of company offers the benefits of both corporations and partnership, and this is why we have preferred it over other forms. The most important element of this form of company is the limited liability of partners. Limited liability restricts the liability of the partners and separates personal and company assets. It is relatively safe to go for a limited liability company as personal assets are not secured in case of liquidation. The next step will be to register a name of the company and a trademark which will be used both for transaction and for marketing purposes. By registering a trademark we will also ensure that no one is able to copy our name or sign in any way. Trademark is very important in today’

Business decision making Essay Example | Topics and Well Written Essays - 3500 words

Business decision making - Essay Example Within the five year period, the number of elite clients has risen from 453 in 2006 to 1124 in 2010. However, there was a sharp in the number of this category of clients in 2007, with the bank recording only 411 Elite clients (Institute of Business and Management, 2012). Additionally, the report shows that the number of Preferred clients has grown by approximately 30 per cent, rising from 3148 in 2006 to 3809 in 2010 (Institute of Business and Management, 2012). This rise has been steady except for the year 2008, which experienced a sharp fall in this category of clients (3148), as compared to the previous year’s 3551. The same trend has occurred in the amount of deposit, where the maximum deposit for the regular clients was 690,354,000 in 2010 (Institute of Business and Management, 2012). The success of the bank has not been on a regular trend though. There has been a mix between the years of success and the drops in terms of deposits. Rating success and failures in terms of income, the final year 2010 indicated success for all the three classes of clients except for a drop in 2007. The remaining years have shown an indicator to financial growth in income, considering that it has been a continuous trend of progressive increase from 2008 to 2010. Comparing each class for every year, regular clients outnumber the rest of the classes, followed by the preferred class and finally the elite class. Perhaps owing to that, the amount of deposit for the regular clients has been the greatest followed by the preferred class and eventually the elites. 1.2. Data Analysis and Summary The table below shows the analysis of the data for all the clients of the bank DM. It shows the average and the mean for all the five years. However, the function for computing modes did not function because none of the values appeared more than once. Table 1: Data Analysis table for the bank DM for performance from 2006 to 2010 (i). From the analysis, it appears that the regular clients are more on average than all other clients, followed by the preferred clients then the elite clients. The deposit balance for the regular clients is also higher than for the categories of clients, followed by the preferred clients then the elite clients in the third rank. The same result is observed for the service income, where the regular clients lead followed by the preferred and finally the elite clients. From this analysis, the most advisable decision Bank DM executive committee can make is to develop marketing strategies for the other two client categories. The strategies can begin from analyzing customer needs concerning the preferred and the client elite accounts. After the analysis, there are two optional actions that the bank can consider. First, there should be a more structured sales promotions program for increasing the performance level of the less performing accounts. The customer satisfaction level can enable the executive committee to improve the qualities of the ac counts. If the sales promotions do not yield the expected outcomes, the next option is to eliminate the accounts from bank and develop a better account product for the preferred and the elite customers. (ii). The second analysis uses measures of dispersion such as variance and standard deviation of the distributions of the numbers for the three banks for all the five years. The measures of dispersion appear in the table below Account Type Number of Accounts Deposit

Analiza Web-sites, blogs, pod cast, videos, articles, and powe points Essay

Analiza Web-sites, blogs, pod cast, videos, articles, and powe points - Essay Example He had short summaries of each of his books on a separate page so that the reader could examine only one book at a time. This page was all about the fantasy world that Silverstein has created. In contract to Silverstein’s site, Charlotte’s Library was boring. It is written by a woman who is an archeologist and she reviews fantasy books for children. The website itself does not really do much for fantasy except give someone who is looking for fantasy books an idea of some that may be good to read. The website is very structured and it seemed more geared towards adults who were looking for good books for their children or teenagers. This was disappointing in a way because the reviews were written more for parents than they were for children. Unfortunately, I would say that this website would not be one that I would send anyone to because it did not really make me want to read the reviews. Another site that is similar to Charlotte’s Library is the Annotated List of Children’s Poetry Books. This is a great site that has annotations about the books that makes a reader want to check them out from their local library and read them. This is an opportunity to see how well the author of the site, Wendy E. Betts, liked the books. Her annotations are intriguing and some of them leave you hanging for more.

How does globalization affect financial markets Research Paper

How does globalization affect financial markets - Research Paper Example This is because globalization has created a wide-ranging affects in the financial markets of various economies. This essay will focus on the quantitative and qualitative analysis of globalization of the financial sector. The essay will use descriptive statistics to conduct the quantitative analysis. The paper will explain the impact of globalization in the capital, investment and the exchange rate market. The studies of the essay will help the researcher analyze the advantages and disadvantages of globalization in the global financial market. It will show how a single change in the financial market of one nation in the current world can affect the market conditions of all the other economies. Contents Contents 3 Introduction 4 Situation Analysis 5 Conclusion 17 References 18 Introduction The report will throw a light on the impact of globalization in the financial market. In order to implicitly analyze this statement, the paper will utilize both theoretical and technical tools of res earch analysis. After completing the analysis, the researcher will conclude with the empirical analysis. This is the era of globalization and liberalization. Globalization is the process that involves the international integration between the nations that takes place from the interchange of ideas, products, world views and culture between nations. In the contemporary world, the economic development of any economy is not possible without the effective contribution of globalization. Any development in the transportation, communication or internet segment of the market is only feasible with the contribution of globalization. This process has helped countries augment the living standard of individuals and substantially helped them to experience the usage of new goods and services. The growth of business activities in the modern economies has shown the requirement for contribution of financial sectors. The financial segment of any country includes the commercial banks, non-banking financ ial institutions and the central banks of the countries (Kang & Paper, 2007). The globalization process has largely influenced the performance of the financial sectors of different countries. The exchange rates now are flexible in order to compete and cope up with the machineries of globalization. Globalization in the world economy has facilitated large capital flows between countries. The monetary authorities between nations are largely entangled with each other due to the globalized state of affairs in the contemporary market system. Capital rising, globalization of the equity markets, domination of the financial sectors in different economies and maximization of the investment returns are all the functions that have enveloped the current world market due to the emergence of globalization. The integration of the financial system between countries has only taken place due to globalization (Baldwin, 1999). Situation Analysis Financial Market in the Modern Economies: The financial ma rket refers to the markets where the trade involves financial securities or commodities. The transactions are made at low cost and the prices at which the transactions are made reflect the demand and supply of such financial products. The banking and non-banking financial institutions that facilitate the trading of such financial products are also included in the financial markets. There are a lot of activities in the financial

Motivation in the Play Essay Example for Free

Motivation in the Play Essay Villains and why they do their villainy is always justified or explained in any literary work. Even those childhood fairy tales with the villain’s formulaic and predictable evil deeds will always do things that have a purpose or will do those things because they were compelled to do it caused by a negative feeling: jealousy, revenge, envy, greed, a childhood without someone to love them or support them, etc. William Shakespeare’s plays are not an exemption to this case as he even creates characters that are capable of not only of evil; they embody evil in their totality as a person—if you may call them that. An example of this would be Iago, touted as the most villainous of all villains in the literary world because of the simple reason that he was guiltless, conscienceless and definitely purposeless in his strategic deeds that destroyed Othello and the people close to the tragic hero. This analysis will focus on this villain and scrutinize his character, villainy and most of all, his purpose (or the lack thereof) on why he did the things he has done that aimlessly ended to other people’s lives. In fact, there is already an answer to this query for Iago is just plain evil, nothing less and definitely more. His motivation lies in the fact that he wants to end other people’s happiness and takes simple delight in causing other people pain and grief which makes him not just a villain but a very mysterious and most terrifying one. In Othello, the Moor of Venice, a man’s capacity to do evil is magnified as Iago is overcome with rage as Othello gives a position to another less qualified man that was originally intended for Iago. Iago takes this in deep and plots against Othello, a Moor in Venice that holds such high position, influential power and great riches. Iago uses jealousy to destroy Othello and the people around him by making it appear that Othello’s loyal wife, Desdemona, is having an affair with another man. In rage, Othello kills his own wife and when he realizes that it was all Iago’s evil plan, he kills himself out of grief and guilt. Iago confesses to no one and does not explain his actions; instead, he keeps mum about what he has done and the purpose in them. Thus, as the play concludes, it is only the audience who are witnesses to Iago’s malice and the extent of his wickedness—but there is a possibility that Iago also leads the audience into believing that they know the entire truth when in fact, he has been dishonest the whole time to everyone—even that of the audience. Iago acts as the villain in the play even if he was not really the one who did the bad deeds. He is the sole villain because he was the master plotter in the whole thing that even innocent people like Roderigo and Emilia were implicated as bad people when they were not wholly that capable of evil. Roderigo and Emilia were simply pawns to his plans and he used them and easily discarded them. In the book of Dobbs Wells entitled The Oxford Companion to Shakespeare, they sum up the villainy of Iago (and pretty much, the entire play) in a few words: He skilfully convinces Othello that his wife Desdemona has been adulterous with Cassio. He wounds Cassio, murders Roderigo, whom he has involved in his plots, and also kills his own wife Emilia. (211) The extent of Iago’s villainy does not merely end in his acts and plans but in an entirely different context and case because his villainy was unjustified and unexplainable. He did not have a purpose and an aim in ruining Othello’s life and soul. For even if it seems that Iago was motivated by the anger he felt over Othello’s passing over the position that was rightfully his to another man that was very much unqualified (according to Iago that is), it still seems not enough motive. In the first part of the play (act I, scene i), Iago insists that he does hate Othello and does a lengthy monologue on why he hates the Moor. However, it can be later learned that maybe Iago was not really motivated by that trivial act done by Othello since Iago has never really revealed the real reason on why he hates Othello. This is because in the same act, he declares that he will never say what he feels and thinks because it is dangerous and it is laughable: For when my outward action doth demonstrate / The native act and figure of my heart In compliment extern, ’tis not long after / But I will wear my heart upon my sleeve For daws to peck at. I am not what I am. (Shakespeare 1. 1. 63-7) His supposed reason on hating Othello may not be his true reason for the vendetta he so chillingly instills on the Moor because Iago will never disclose his real reasons. Thus, even though Iago was transparent with his feelings and thoughts to the audience and some characters like Roderigo and Emilia, he actually lied to everyone since he could never â€Å"wear his heart† on his sleeve. Moreover, even if the rage he felt over Othello’s actions propelled him to do/plan such things, it was not enough to completely destroy the life of one man and the lives around that man. To think that Iago even killed his own wife with his own hands—without a second thought on doing it or a guilt overcoming afterwards. As what Dobbs Wells wrote, Iago was a â€Å"motiveless evil† and that lack of motivation in him makes him a superior proponent of evil (211). In conclusion, Iago is most villainous not just because of the things he has done but also because of the lack of motivation in them, the absence of purpose, the incapacity to be guilty over the success of his evil plans and most of all, the mockery he throws to the characters and the audience at the end of the play with his silence. This silence is eerie as it has a purpose—to make everyone shiver at what other havoc and damnation he could have done with that evil mind of his. Works Cited Dobson, Michael and Wells, Stanley. â€Å"Iago†. The Oxford Companion to Shakespeare. New York: Oxford University Press, Inc. , 2001. 211. Shakespeare, William. â€Å"Othello, the Moor of Venice†. Ed. Russ McDonald. New York: Penguin Group, 2001. Print.

Comparison of Goldman Sachs and Close Brothers Annual Report

Comparison of Goldman Sachs and Close Brothers Annual Report International Financial Accounting – Comparison of the Annual Reports 2005 of Goldman Sachs and Close Brothers Description of activities and source and type of revenues Goldman Sachs has three main types of activities Investment banking. This covers services like merger and acquisition advice, helping clients raise debt. Trading and principal investments. This covers trading and investing in fixed income and equity products, currencies and commodities. This is the largest division in terms of net revenues and generated 66% of net revenues in 2005. Asset management and security services. This division provides advisory and financial planning services including brokerage and advisory services to wide range of clients like pension fund and hedge funds. Table 1 shows the net income of the above three divisions in 2005. Table 1 – Goldman Sachs: Net income in the year ended November 2005[1] Division Net revenues, $ billion Revenue as % of total Investment banking 3.67 15% Trading and principal investments 16.36 66% Asset management and security services 4.75 19% Total 24.78 100% Close Brothers provides following main activities Investment banking. Close Brothers has three main divisions under investment banking: Asset management. This division manages assets of private clients, trust funds and offshore funds. Corporate finance provides merger and acquisition, financial restructuring and debt advisory services to corporate clients. Market-making division specialises in providing liquidity to the London retail market-making markets in UK and many international shares. Banking division normal banking services like deposits and foreign exchange facilities to personal and professional clients. Table 2 shows the distribution of operating income, as a measure of revenues, of different divisions Table 2 – Close Brothers: Operating income in the year ended 31 July 2005[2] Division Operating income as % of total Asset management 21% Corporate Finance 7% Market-making 24% Investment banking 52% Banking 48% Total 100% Profitability of the two companies from the company and shareholders perspectives The table 3 shows the profitability of Goldman Sachs in the years ended November 2004 and 2005 Table 3 – Goldman Sachs: Profitability[3] 2005 2004 % change Net revenues, $ billion 24.78 20.55 20.6% Pre-tax earnings, $ billion 8.27 6.68 23.8% % of revenues 33.4% 32.5% Net earnings, $ billion 5.63 4.55 23.7% % of revenues 22.7% 22.1% Diluted earnings per common share, $ 11.21 8.92 25.7% Return on average common shareholders equity 21.80% 19.80% 10.1% Goldman Sachs increased its net revenues by 20.6 % in 2005 whereas pre-tax earnings increased by 23.8 % in the corresponding period. This shows that the company achieved not only higher profits in 2005 but also increased the profitability by limiting growth in expenses. This is supported by the fact that pre-tax earnings as a percent of net revenues were 33.4 % in 2005 compared to 32.5 % in 2004. Net earnings also increased by 23.7 % in the year 2005 in line with growth in pre-tax earnings. The higher growth in net earnings compared to net revenues shows that higher sales were not achieved at the expense of lower margins. Profitability for shareholders is measured in terms of diluted earnings per share. The growth in diluted earnings per share was 25.7 % in 2005. This was even higher than the growth in net-earnings. Shareholders’ profitability is also measured in terms of return on shareholders equity which is net earnings divided by the shareholders equity. This increased by 10% from 19.8 % in 2004 to 21.8 % in 2005. Higher return indicates Goldman Sachs is using equity to earn higher profits. The table 4 shows the profitability of Close Brothers for the years ended July 2004 and 2005 Table 4 – Close Brothers: Profitability[4] 2005 2004 % change Operating income,  £ m 448 401.2 11.7% Pre-tax profit,  £ m 108.62 101.34 7.2% % of operating income 24.2% 25.3% Profit after tax,  £ m 70.75 67.42 4.9% % of operating income 15.8% 16.8% Diluted earnings per common share,  £ 0.47 0.45 4.4% Profit attributable to shareholders,  £ m 68.58 65.21 Shareholders equity,  £ m 540.32 509.26 Return on average common shareholders equity 12.69% 12.80% -0.9% Close Brothers increased its operating income by 11.7 % in 2005 whereas pre-tax earnings increased by 7.2 % only in the corresponding period. This shows that the increase in pre-tax profits was countered by a much higher increase in expenses. The operating margin dropped by 1% from 25.3 % in 2004 to 24.2 % in 2005. Operating margins of Close Brother were about 9 % lower than that of Goldman Sachs indicating that Close Brothers operates in a more competitive environment. Similarly profit after tax as a percent of revenues were 7 % lower in case of Close Brothers – 15.8 % for Close Brothers compared to 22.7 % for Goldman Sachs. The growth in diluted earnings per share was only 4.4 % in 2005. This is much lower than the growth in Goldman Sachs earning per share. The return on common shareholder equity was only 12.70 % in case of Close Brother which means that from shareholders point of view return in Goldman Sachs is higher than Close Brothers. Long-term financial structure of two companies Table 5 shows the financial structure of Goldman Sachs looking at its short and long-term borrowings along with shareholders equity. Table 5 – Financial structure of Goldman Sachs[5] 2005 2004 $ billion % $ billion % Short term borrowings 55.22 36% 54.96 41% Long term borrowings Secured 15.67 10% 12.09 9% Unsecured 84.34 54% 68.61 51% 100.01 64% 80.7 59% Total borrowings 155.23 100% 135.66 100% Cash and cash equivalent 10.26 4.36 Net debt 144.97 131.30 Shareholders equity 28.00 25.08 Long term debt to equity 78% 76% Net debt / (net debt + equity) 84% 84% The % of long-term borrowings has increased from 59 % to 64 % in the year 2005. This has mainly come from the increase in unsecured long-term borrowings. The company is highly geared and its net debt to total capital ratio is 84 %. As of November 2005, 84 % of Goldman Sachs was financed through net debt, i.e., out of every $1 of its capital, 84 cents came from debt. The table 6 shows the financial structure of Close Brothers. Table 6 – Financial Structure of Close Brothers[6] 2005 2004  £ m %  £ m % Short term borrowings 132.22 15% 287.36 40% Long term borrowings 729.28 85% 434.00 60% Total borrowings 861.5 100% 721.36 100% Cash and cash equivalent 1.25 0.85 Net debt 860.25 720.51 Shareholders equity 540.32 509.26 Long term debt to equity 57% 46% Net debt / (net debt + equity) 61% 59% Company’s long-term borrowings have increased significantly from 60 % to 85 % in the year 2005. Close Brothers gearing are more on long-term borrowings as compared to Goldman Sachs. The net debt to total capital ratio is 61 % which means that Close Brothers is less geared compared to Goldman Sachs. Because of higher equity percent in Close Brothers, the long-term debt to equity ratio of Close Brothers is only 57 % in 2005 as compared to 78 % of Goldman Sachs. Analysis of difference in cash flow from profit Cash flows differ from profits because of the following major items: Inclusion of non-cash items like depreciation and amortisation in net profits Cash inflow and outflow in purchase and sale of property and businesses. In case of purchase, no impact is on profit and loss. In case of a sale, only profit or loss over the cost price is included in the profits and not the full amount of sale. Cash inflow or outflow from the financing activities like raising or retiring loan, issue of equity. This impacts cash flow but is not included in the profit and loss statement. We now look at the above sources of difference for both Goldman Sachs and Close Brothers. Table 7 shows the cash flow calculation from net profits of Goldman Sachs for the year 2005. Table 7 – Comparison of cash flow and profits of Goldman Sachs[7] $ bln Net profits 5.63 Cash flow Net profits 5.63 Non-cash items in net earnings 2.16 Cash used in assets and liabilities -20.203 Cash used in operating activities -12.413 Cash from investing activities -1.06 Cash from financing activities 19.37 Change in cash 5.90 Goldman used $12.4 billion of cash in operating activities in 2005 and this includes $20.20 billion of cash used in assets and liabilities. Operating activities also include $2.16 billion of non-cash items like depreciation and amortisation, deferred income tax and stock options. Another $ 1 billion of cash was used in purchase of businesses, property and leases. The cash outflow from operating activities was compensated by cash inflow from financing of $19.37 billion. This was mainly made up of cash inflow of $43 billion from long-term borrowings. Table 8 shows the cash flow calculation of Close Brothers for the year 2005. Table 8 – Comparison of cash flow and profits of Close Brothers for the year ended 31 July 2005[8]  £ m Profit after tax 70.75 Cash flow Cash flow from operating 521.52 Tax -37.82 Net cash flow from operating activities 483.70 Cash from investing activities -171.23 Cash from financing activities -67.98 Change in cash 244.49 While the profit after tax was only  £70.75 million, cash increased by  £244.49 million in the year 2005. This was mainly due to net cash inflow from operating activities of  £483 million. The differences in the sources of cash generation arise between Goldman Sachs and Close Brothers arise from the way they include cash items under different categories. Close Brother was able to show high cash inflow from operating activities because of classification of reduction in loan advances of  £190 million and loan notes issuance of  £260 million under trading activities. If we take out the above two ash inflows form operating activities, then net cash inflow from operating activities would be only  £33.7 million (483.7 – 190 – 260). Also then the cash flow form financing activities would change from - £68 million to  £382 million. Examples of accounting transactions subject to different GAAP Goodwill amortisation and impairment. Goldman Sachs is listed at New York Stock Exchange and subject to US GAAP. Under US accounting SFAS No. 142 â€Å"Goodwill and Other Intangible Asset†, Goldman Sachs tests goodwill each year for impairment[9]. It amortises intangible assets over the useful life which was on average 16 years in 2005[10]. Close Brothers follows Financial Reporting Standard No. 10 and amortised the goodwill over 20 years[11]. Where Goldman Sachs has an option to choose the useful life, companies in UK normally follow the option of 20 years. The change in amortisation years results in difference in profits even though this is a non-cash item. Share based compensation. Goldman Sachs followed US accounting principles SFAS 123 and SFAS 148 under which the compensation expense is recognised over the relevant service period[12]. Close Brother didn’t expense the share based compensation in the year 2005 and expects that future alignment with International Financial Reporting Standards on expensing of share based award will reduce profits by  £ 4 million[13]. Summary of non-numeric information in the annual report and importance to the shareholders Summary of information for Goldman Sachs Investment banking backlog increased in 2005 over 2004[14]. This means that the company was expecting more business to materialise in fees in 2005 and also shows the healthy environment in financial markets. The company increased its market risk in equities and interest rate products in the second half of 2005 assuming that market conditions will remain favourable[15]. If market conditions turn against Goldman Sachs assumption, the riskier investments would lead to higher losses. The business is very prone to financial market conditions and hence it is difficult to predict future earnings[16]. Investors with good knowledge of financial markets – mainly sophisticated institutional investors – can predict with some reasonability future earnings of a company like Goldman Sachs. It would be difficult for individual investors to do the same and hence they have to rely on credible sources for future earning potential of Goldman Sachs. Summary of information for Close Brothers The business performance is subject to economic conditions in UK[17]. Bad debt charge was low in 2005 due to low interest rate and full employment. Increase in interest rate and low employment would increase bad debt charge and reduce profitability. Reputation risk is the most importance and any public failure can lead to significant reduction in income[18]. Implementation of International Financial Reporting Standards could have a material impact on income because of issues like recognition of share based awards[19]. BIBLIOGRAPHY Goldman Sachs, Annual Report 2005, http://www2.goldmansachs.com/our_firm/investor_relations/financial_reports/annual_reports/2005/ Close Brothers, Annual Report 2005, http://www.closebrothers.co.uk/uploads/cbg2005full.pdf Footnotes [1] Goldman Sachs, Annual Report 2005 [2] Close Brothers, Annual Report 2005 [3] Goldman Sachs, Annual Report 2005 [4] Close Brothers, Annual Report 2005 [5] Goldman Sachs, Annual Report 2005 [6] Close Brothers, Annual Report 2005 [7] Goldman Sachs, Annual Report 2005 [8] Close Brothers, Annual Report 2005 [9] Goldman Sachs, Annual Report 2005, Pg. 74 [10] Goldman Sachs, Annual Report 2005, Pg. 89 [11] Close Brothers, Annual Report 2005, Pg. 31 [12] Goldman Sachs, Annual Report 2005, Pg. 73 [13] Close Brothers, Annual Report 2005, Pg. 8 [14] Goldman Sachs, Annual Report 2005, Pg. 24 [15] Goldman Sachs, Annual Report 2005, Pg. 25 [16] Goldman Sachs, Annual Report 2005, Pg. 25 [17] Close Brothers, Annual Report 2005, Pg. 5 [18] Close Brothers, Annual Report 2005, Pg. 6 [19] Close Brothers, Annual Report 2005, Pg. 8

The Introduction Of Mamee Double Decker

The Introduction Of Mamee Double Decker Mamee-Double Decker (M) Berhad is a unique brand of good taste and fine quality. The company is recently listed in the Kuala Lumpur Stock Exchang (KLSE). The company manufactures many products which are Mamee Monster, Mamee Instant and Sllrrrp Noodles, Mister Potato Chips, Mister Potato Crisps and so on. All this products are already household names. The most famous product of the company is Mamee Monster. Mamee Monster is something like noodles with a pack of seasoning powder. This product consists of two flavours which are chicken and barbeque. Besides these two flavours, there is another new flavor like satay flavor. Between these three flavours, barbeque is the tastiest and many kids like it including us. Mamee Monster consists of jumbo pack; the jumbo packs are a new product and it is include two flavours like barbeque and the new one- curry flavour. These two flavours can stimulate our taste buds. Besides this honored, the company also promote a new product which is Mister Potato Rice Crisps. This new product can competes with others brand as well like Jacker and Pringles. Why do I say so? It is because this Mister Potato Rice Crisps is low fat and healthier compared with others potato chips. Jacker is good taste but salty and same goes to Pringles. This new product consists of four flavours such as, original, flame grilled bbq, hot and spicy as well as sour cream and onion. For people who likes chili can try hot and spicy flavor. For those who do not like heavy flavour can try original flavour. In an addition, Mamee-Double Decker (M) Berhad also has a product which is instant noodles-Mamee Sllrrrp. For this instant noodles have a variety of flavours such as ayam kampung, asam laksa, kari berapi and kari extra pedas. Any of the flavours will make people sllrrrp, sllrrp, sllrrrp when eating. Overall, Mamee-Double Decker (M) Berhad is a good quality brand and no doubt it can win the heart of the public range from kids and adults to old folks. This company is a very successful company and earns much profit from previous until now. Mamee Lekor After a thorough consideration, we as Mamee-Double Decker (M) Berhads corporate finance advisors had decided to increase their shareholders wealth by introducing a new product keropok lekor. What is keropok lekor? This is it. The easiest way to describe Keropok Lekor is to call it as fish sausage. Its main ingredients are fish (Ikan Parang/Kembong/Selayang), sago flour, salt and water. We named our new product (keropok lekor) as Mamee Lekor. It can be served in crispy type or soft chewy type according to preferences.D:New folderMmuGamma 1st SemBBF 2124 FM 2keropok_lekor.jpgD:New folderMmuGamma 1st SemBBF 2124 FM 211.jpg Keropok lekor is originated from Kuala Terengganu, Malaysia and it is a popular and most visible fried snack in Terengganu. Lots of local there know how to make this keropok lekor. Therefore, there are many stalls in Malaysia that sells keropok lekor. However, there is none in hypermarket, cinemas and petrol station. This keropok lekor become very popular that we can find it in other states of Malaysia such as Johor and Melaka. Perhaps, we could not find this type of snacks in country other than Malaysia because keropok lekor is a local Malay delicacy and specialty of Malaysia. Mamee-Double Decker (M) Berhad introduces Mamee Lekor in two forms. First, the mini ball sized fried keropok lekor which packaging in a small plastic bag like Mamee Monster. Another one is raw keropok lekor. D:New folderMmuGamma 1st SemBBF 2124 FM 2keropak_lekor.jpg The fried keropok lekor in mini packing contains 10 mini balls of keropok lekor which sells RM1.50 per pack. The above picture is for illustration purpose only. To be more attrative, we will shape it into mini balls to attract customers. We also produce raw keropok lekor in 700g per pack which sells at RM10. This fried mini keropok lekor will expire in 4 to 5 days after production. How we are going to handle this situation? We will follow the Gardenias distribution strategy. We will send our workers to send new keropok lekor and collect back the expired one. Our workers are going to the retail store and supermarkets to send and collect Mamee Lekor 2 times per week. This is to ensure that our products are fresh before reaches to our customers and consumers. Also, we produce raw keropok lekor to fulfill some households demands. They can cut it into the thickness they prefer and fry or steam it. The main difference between the raw and ready fried mini packed keropok lekor is that the raw keropok lekor can keep for longer period. On the other hand, the ready fried mini packed keropok lekor can only last within 5 days. Some household may buy the raw keropok lekor and kept in their freezer and fried it whenever they want to eat. Since raw keropok lekor can be kept in a long period which is around one year, we plan to export it to other countries. We plan to export 700g of raw keropok lekor per pack to other countries selling at RM12 each. The selling price is slightly higher than in Malaysia because it already included the cost that related to export activities. We decided to export to Australia, Hong Kong and Singapore. We export more to Australia because it is the largest and fastest growing export market compared to other countries. It ha s highest export rate of snack and confectionary from Mamee-Double Decker. We also export to Singapore and Hong Kong because we want to introduce Mamee Lekor to Western and Asian countries as well. Why we produce keropok lekor? This is because it is a local traditional delicacy which not available in other countries. It is a specialty to foreigners because their countries do not have this food. So, we can monopolize Mamee Lekor in other countries. Besides, according to research, Mamee Double-Decker (M) Berhad s snacks and confectionery occupied the highest demand compared to other catrgories. So we produce Mamee Lekor which is a kind of snacks to boost the demand. We will start our project by reaching out the children because no children dislike snacks and they like to try on new things. So, we decided to distribute Mamee Lekor to school canteens. It is packed in a mini package same as Mamee Monster. It is cute and can attract children to try it. It is also convenient to consume. Moreover, in order to expand new market, we will distribute our Mamee Lekor to all cinemas such as Golden Screen Cinemas and MBO Cinemas. Most of the people will carry a packet of snacks or a big box of popcorn into the theatre. As our Mamee Lekor is also a kind of snacks, we believe that the demand will be higher in cinemas. Also, Mamee Lekor can be a substitute good for those who do not like popcorn or other snacks for health conscious. As Our Mamee Lekor is made from fish and fried with unsaturated oil, it is high protein, monosodium glutamate (MSG)-free and less oily. Why we want to promote healthy lifestyle? It is to follow Mamee-Double Decker (M) Berhads step. The company wants to produce products that are MSG-free, artificial colouring-free and oil-free. We produce keropok lekor in a healthy way to help consumers to consume without worries while maintaining a balance and healthy lifestyle. Initial Investment When we wanted to produce the Keropok Lekor, we used 3 types of machine like cartridge system, frying machine and packaging machine. The machines and the usages are shown below: Cartridge system is used to blend the filled up fish with some ingredients. This machine is the key in making Keropok Lekor and was the first step to produce the better product. The retail price of this type of machine is RM 15,000 each. It is a franchised system, so the price is fixed. We prepare keropok lekor from fish meat grounded with sago and salt; these are then rolled and made into the shape of long tubes similar to sausages by this machine.C:UsersPublicPicturesSample Picturesmoto_0117.jpg The frying machine is used to fry Keropok Lekor after it was shaped into mini size by our labours. This machine has many functions such as continuous fines removal for increased oil life and automatic oil level control. It is easy to clean. Its superior oil temperature control helps to maintain fryer quality stability. The cost of purchasing the machine is RM 6,000 each.http://img.diytrade.com/cdimg/432764/3809036/0/1181816403/Gas_Frying_Machine.jpghttp://i03.i.aliimg.com/photo/104903103/Horizontal_Packaging_Machine_v0.jpg As shown the horizontal packaging machine. After the Keropok Lekor had been steam and fried, the packaging and leballing process happen. It is to keep keropok lekor last longer and maintain the taste. This machine costs RM 13,000 each. How many factories we have? We are going share some spaces in the existing Mamee-Double Decker factories rather than building extra factories. We choose to share capacity with factories in Selangor, Perak, Johor and Sarawak. This is the strategic location as we can cater the demands of North, East, West, and South of Malaysia. There are 2 cartridge system, 2 frying machines and 1 packaging machine in each factory. We use 2 catridge machine because one machine is not big enough to blend big amount of filled fish and other ingredient. When we use two of them together, the maintenance cost will become lower when some of the parts broken. Timing on processing will also reduce 20% compare to big cartridge machine. Other than that, we use 2 frying machines because we need to save cost especially in introducing the new product. The bigger and more technologically advance machine will cost higher. So we use 2 cartridge system and frying machine instead of the sophisticated one. The machines we use are expected to be able to serve large amount of production. Lastly, for an newly introduced project, we expect that 1 packaging machine is enough to cater our production. It produces around 70 to 100 packs of keropok lekor per hour. With one packaging machine only, we can save our budget and consume less space. We are going to promote our new product by advertising on The Star  [1]  newspaper. Why we choose to advertise on The Star rather than other newspapers? According to Audit Bureau of Circulations from 1 July 2008 to 30 June 2009, The Star newspaper is the most famous newspaper in Malaysia in term of readership. It has between 290,000 to 300,000 readers. Moreover, The Star newspaper is an English-language newspaper which is readable for all races, for instance Malays, Chinese, Indian and others, in Malaysia. Additionally, we need to buy new vans to implement our distribution network strategy. Each second hand van would cost us RM 80,000 each. We plan to buy 2 vans for each factory. We will hire driver to run our distribution network to distribute and collect back our keropok lekor. Year 1 In first year, we expect to sell 1,200 packs of Mini ball keropok lekor and raw keropok lekor each day. That means each factory has to produce 300 packs of Mini keropok lekor and raw keropok lekor respectively. Total quantity produce of mini and raw keropok lekor = 300 packs per day x 4 factories x 30 days per month x 12 months per year = 432,000 packs repectively. Sales Mini keropok lekor Raw keropok lekor Cash inflow in year 1 Unit selling price RM 1.50 RM 10.00 Quantity produce 432,000 432,000 Sales volume RM 648,000 RM 4,320,000 RM 4,968,000 The main ingredients of keropok lekor are ikan parang/kembong/selayang, sago flour, salt and water. The ingredient costs of mini and raw keropok lekor are RM 0.80 and RM 5.00 each while the packaging costs are RM 0.20 and RM 0.10 respectively. Packaging cost of mini keropok lekor is higher than raw keropok lekor because the packaging design will be more colourful and attractive. Also, we need labours to help us shape mini keropok lekor and fry it. Each labour cost is RM 800 per month. Each driver will have to travel 2 times per week to distribute and collect mini keropok lekor. Each trip will cost RM 150 including petrol cost. So, each driver costs us RM 150 x 2 times per week x 4 times per month x 12 months x 4 factories = RM 57,600. Costs Mini keropok lekor Raw keropok lekor Ingredient + packaging (RM0.80+RM0.20) x 432,000= RM 432,000 (RM5+RM0.10) x 432,000 = RM 2,203,200 Labor 6 labours X RM 800 X 12 months x 4 factories = RM 230,400 Driver 2 drivers x RM 57,600 = RM 115,200 Cash outflow (RM 432,000 + RM 2,203,200 + RM 230,400 + RM 115,200=RM 2,980,800 Net operating cash flow in year 1 = RM 4,968,000 RM 2,980,800 = RM 1,987,200 Year 2 Year 2, we estimate that our production will increase 5% as demand increases. Since first years production is 864,000 units (432,000 units for mini and raw keropok lekor respectively), year 2 our productions will be 907,200 units (864,000 + 5%). That means production for each type is 453,600 units. Besides, as Mamee Double-Decker (M) Berhad generated about 30% of its sales from the export markets which cover more than 80 countries across all continents, we plan to expand market and export raw keropok lekor to other countries. Each pack of raw keropok lekor, we will charge RM 12 which slightly higher than RM 10 to cover any expenses incur in export activities. In this year, we will export 100,000 units to Australia, 60,000 units to Hong Kong and 36,000 units to Singapore. In other words, we will export 25000, 15000 and 9000 units to these 3 countries in every 3 months. Why do we export more products to Australia? As Australia is the largest and fastest growing export market which contributed 18% of the total export sales in financial year 2009, we decided to export more products to the country. Other than Western country, we also export to Asian country such as Hong Kong. It not only helps to expand our market, but also introduce keropok lekor such a traditional cuisine to both Western and Asian countries. Besides, Singapore is our neighbour country and knows our cultures more as well as it contributed 9% of total export, so we choose to export to Singapore rather than other countries. Sales Mini keropok lekor Raw keropok lekor Export raw keropok lekor Cash inflow in year 2 Unit selling price RM 1.50 RM 10.00 RM 12.00 Quantity produce 453,600 453,600 196,000 Sales volume RM 680,400 RM 4,536,000 RM 2,352,000 RM 7,568,400 Due to increase in production, we have to add in additional 2 labours, 1 driver, 1 cartridge system, 1 packaging machine and 1 frying machine in each factory. Costs Mini keropok lekor Raw keropok lekor Export (raw keropok lekor Ingredient + packaging (RM0.80+RM0.20) x 453,600 = RM 453,600 (RM5+RM0.10) x 453,600 = RM 2,313,360 (RM7+RM0.10)x 196,000 = RM 1,391,600 Labor 8 labours X RM 800 X 12 months x 4 factories = RM 307,200 Driver 3 drivers x RM 57,600 = RM 172,800 Cartridge system RM 15,000 x 1 unit x 4 factories = RM 60,000 Packing machine RM 13,000 x 1 unit x 4 factories = RM 52,000 Frying machine RM 6,000 x 1 unit x 4 factories = RM 24,000 Cash outflow RM 453,600+ RM 2,313,360+ RM 1,391,600+ RM 307,200+ RM 172,800+ RM 60,000+ RM 52,000+ RM 24,000 =RM 4,774,560 Net operating cash flow in year 2 = RM 7,568,400 RM 4,774,560 = RM 2,793,840 Year 3 We estimate that our sales in this year keep increasing and probably reach maturity. Our expected production excluding export will increases from 907,200 to 950,400 units which increases around 5 % of year 2s production. In other words, production for mini and raw keropok lekor is 475,200 units respectively. Additionally, we expect export rate of keropok lekor will increase 4 %, which is from 196,000 to 204,000 units. In this year, we have to add in more technologically advance machine to cater the increase in production. We will purchase more innovative cartridge system, packing machine and frying machine to improve productivity. We also hire 2 more labours and 1 more driver to help us run our business smoother. The additional driver can help us widen our distribution network to other places. We expect that the cost of labour will become slightly higher which is from RM 800 to RM900. It is to increase their motivation to work and maybe due to inflation. Sales Mini keropok lekor Raw keropok lekor Export raw keropok lekor Cash inflow in year 3 Unit selling price RM 1.50 RM 10.00 RM 12.00 Quantity produce 475,200 475,200 204,000 Sales volume RM 712,800 RM 4,752,000 RM 2,448,000 RM 7,912,800 Costs Mini keropok lekor Raw keropok lekor Export (raw keropok lekor Ingredient + packaging (RM0.80+RM0.20) x 475,200 = RM 475,200 (RM5+RM0.10) x 475,200 = RM 2,423,520 (RM7+RM0.10)x 204,000 = RM 1,448,400 Labor 10 labours X RM 900 X 12 months x 4 factories = RM 432,000 Driver 4 drivers x RM 57,600 = RM 230,400 Cartridge system RM 20,000 x 1 unit x 4 factories = RM 80,000 Packing machine RM 20,000 x 1 unit x 4 factories = RM 80,000 Frying machine RM 10,000 x 1 unit x 4 factories = RM 40,000 Cash outflow RM 475,200+ RM 2,423,520+ RM 1,448,400+ RM 432,000+ RM 230,400+ RM 80,000+ RM 80,000+ RM 40,000 =RM 5,209,520 Net operating cash flow in year 3 = RM 7,912,800 RM 5,209,520 = RM 2,703,280 This year, although expected sales increases, net operating cash flow decreases. This is because we plan to do expansion by adding more technologically advance machines. This is logic as whenever a firm manages to cover up their initial investment, what they might do is to do expansion. Year 4 Out of expectation, probably the demand for our keropok lekor might go down. Perhaps there is new competitors exist in market. Who knows they envy of our high sales volume and might want to compete with us? With our 3 years brand recognition, perhaps our sales would not drop too badly. So, our expected production will be 920,000 units which are 3% less than previous year. Production of mini and raw keropok lekor will be 460,000 units respectively. As production decreases, we do not have to hire much driver for distribution network. We will cut down 1 driver to cut expense of RM 57,600. However, we will remain our existing labours. As we believe that, whenever there is an obstacle, we will find out a way to curb it and boost future sales as well as production. Thus, we do not want to loss any well- trained and loyal labour. Still, in order to handle any possible changes in future, we have a pessimistic view that the cost of ingredient will increase. We predict that the unit cost of mi ni keropok lekor will increase from RM0.80 to RM0.90 while raw keropok lekor will increase from RM5 to RM 5.50. On the other hand, our export rate will keep on increasing. We expect our production will be 210,000 units which is 3% higher than in year 3. Why do we forecast that the export rate will increase? Why not decrease? Because, even if foreign competitor wants to compete with us, they might need some times to figure out how to produce such a Malay local cuisine which is available in Malaysia only. This is our local special food, so of course there is some recipe that other countries do not know. Also, since there is a decrease in Malaysias sales and an increase of export rate, we do not have to add in any new machine. Sales Mini keropok lekor Raw keropok lekor Export raw keropok lekor Cash inflow in year 4 Unit selling price RM 1.50 RM 10.00 RM 12.00 Quantity produce 460,000 460,000 210,000 Sales volume RM 690,000 RM 4,600,000 RM 2,520,000 RM 7,810,000 Costs Mini keropok lekor Raw keropok lekor Export (raw keropok lekor Ingredient + packaging (RM0.90+RM0.20) x 460,000 = RM 506,000 (RM5.50+RM0.10) x 460,000 = RM 2,576,000 (RM7.50+RM0.10)x 210,000 = RM 1,596,000 Labor 10 labours X RM 900 X 12 months x 4 factories = RM 432,000 Driver 3 drivers x RM 57,600 = RM 172,800 Cash outflow RM 506,000 + RM 2,576,000 + RM 1,596,000 + RM 432,000 + RM 172,800 = RM 5,282,800 Net operating cash flow in year 4 = RM 7,810,000 RM 5,282,800 = RM 2,527,200 Year 5 Assume that there is a drop in sales, of course we will take some actions to increase the sales back. In this year, we plan to open kiosk in hypermarket. Together there will be one kiosk in Melaka, Kuala Lumpur, Penang and Johor Bahru respectively. Rental of each kiosk is expected to be RM 800. We will hire 2 workers to help us operate the kiosk. Since we sell freshly cooked keropok lekor on the spot, we will need to purchase one frying machine for each kiosk. We also need some budgets for setup cost. With the above strategy, we believe that we able to boost our sales for at least 2%. Our expected production will be 940,000 units which is 470,000 units for each type of keropok lekor. Furthermore, we predict that our export rate of keropok lekor will grow at a decreasing rate which is 1% only. Our expected export rate will be 212,000 units. We are going to hire 2 more labours to help us to run our business to avoid supply shortage and to employ any future strategy. We need 1 more driver to widen our distribution network, and send raw keropok lekor to our kiosk to ensure there is no shortage problem. No additional machine is required as we already added in technologically advance machines in previous year which able to cater higher production. Sales Mini keropok lekor Raw keropok lekor Export raw keropok lekor Cash inflow in year 5 Unit selling price RM 1.50 RM 10.00 RM 12.00 Quantity produce 470,000 470,000 212,000 Sales volume RM 705,000 RM 4,700,000 RM 2,544,000 RM 7,949,000 Costs Mini keropok lekor Raw keropok lekor Export (raw keropok lekor Ingredient + packaging (RM0.90+RM0.20) x 470,000 = RM 517,000 (RM5.50+RM0.10) x 470,000 = RM 2,632,000 (RM7.50+RM0.10)x 212,000 = RM 1,611,200 Labor 12 labours X RM 900 X 12 months x 4 factories = RM 518,400 Driver 4 drivers x RM 57,600 = RM 230,400 4 Kiosk Expenses Calculations Total Rental RM 800 x 4 kiosks x 12months RM 38,400 Workers RM 800 x 2workers x 4 kiosks x 12 months RM 76,800 Frying machine RM 3000 x 4 kiosks RM 12,000 Setup RM 1,500 x 4 kioks RM 6,000 Total expenses for kiosks RM 133,200 Cash outflow in year 5 RM 517,000 + RM 2,632,000 + RM 1,611,200 + RM 518,400 + RM 230,400 + RM 133,200 = RM 5,642,200 Net Operating cash flow in year 5 = RM 7,949,000 RM 5,642,200 = RM 2,306,800 Although expected sales increases, net operating cash flow slightly decreases, it is due to the investment in kiosks. Yet, we believe that next years sales and net operating cash flow will increase simultaneously. RM 1,987,200 RM 2,793,840 RM 2,703,280 RM 2,527,200 RM 2,306,800 o 1 2 3 4 5 year RM 1,140,000 The time line above depicts the conventional cash flow of our project. There is only one cash outflow for initial investment in year 0. From year 2 to 5, there is positive net operating cash flow. The net cash flow rises from year 1 to 2 because we export raw keropok lekor to other countries and increase revenues. In year 3, the sales keep on increasing but net cash flows drop as we do expansion by purchasing additional machines for technology advancement. During year 4, we predict that there will be new competitors exist to compete with us. Our sales drop slightly but net cash flow increases, because we try to cut cost and do not need to add in new capital. The next year, we employ a new strategy which is to open kiosk in hypermarket to sell freshly fried keropok lekor. We predict that our sales will increase slightly. But why net cash flow descend? Because we need some costs on operating the kioks. In short, our net cash flow thoroughout the year is up and down, but we manage to ke ep it at positive level. From other point of view, there will be up and down, because when any unfavourable things incur, we try to solve it and up the net cash flow again. Cost of Capital The cost of capital acts as a link between Mamee Double-Decker (M) Berhad s long term investment decisions (keropok lekor project) and the wealth of their owners as determined by investors in the marketplace. It is the magic number that is used to decide whether a proposed investment will increase or decrease the firms stock price. The cost of capital is the rate of return that Mamee Double-Decker (M) Berhad must earn on the keropok lekor project in which it invests to maintain the market value of its stock. In this project, we will use Mamee Double-Decker (M) Berhads retained earnings to cover our new project. Cost of retained earnings is a cost of internally generated funds. It is an imputed or opportunity cost or the dividends given up by the common stockholders. It is the rate that investors can earn elsewhere on investments of comparable risk. Why we choose to use cost of retained earnings rather than issuing new shares or bonds? The main reason is that we notice Mamee Double-Decker (M) Berhad is proposing share buy-back. According to research, they plan to buy back the shares by using their retained earnings. So, why do we still want to use its retained earnings to support our new project? This is because we cannot issue additional shares or bonds to raise capital. Mamee Double-Decker (M) Berhad proposed share buy-back is to reduce number of shares outstanding and increase their share price. So, we do not want to do the opposite way. Moreover, Mamee Double-Decker (M) Berhad is very strong. It holds RM 43,457,000 cash, deposit and bank balances without borrowing any long term debt. It finances itself with cash only. That is why we do not want to raise capital by issuing bond which is a type of long term debt. Although tax is deductible when we issue bonds/debts/loans, we do not want to break the rules and rise their financ ial risk. They do not finance themselves with any debt, perhaps they want to reduce their risk for no need to pay out coupon payment and principal to their debtors. Besides, we choose to raise capital by using retained earnings because our initial investment only takes 9% of their overall retaining earnings. Their retained earnings in financial year 2009 are RM 83,977,000 while our initial investment is RM 1,140,000. Our payback period shows that we could cover it up within 1 year. Yet, without being over optimistic, there is always something unfavourable happen, so we predict that we could cover up the initial investment within 2 years. Cost of retained earnings= D1 / P0 + g The dividend per share from year 2000 to 2009 is shown below: Year Dividend per share Year Dividend per share 2000 5.5 cents 2005 14 cents 2001 5.5 cents 2006 20 cents 2002 5.5 cents 2007 25 cents 2003 6.0 cents 2008 5 cents 2004 10 cents 2009 7 cents Input Function -5.5 PV 7.0 FV 9 N Growth of dividends = 2.71% (by using financial calculator) According to Bloomberg Businessweek  [2]  , expected dividend in 2010 is RM 0.10 while share price of Mamee Double-Decker (M) Berhad is RM 3.70. Cost of retained earnings = (RM 0.10 / RM 3.70) + 2.71% = 5.41 % In short, our cost of raising capital by using Mamee Double-Decker (M) Berhads retained earnings is 5.41%. The cost of capital will be applied when calculating NPV of the company. Payback Period Payback period can be defined as the amount of time required for a firm to recover its initial investment in a project, as calculated from cash flow. Payback period which also calculated as: Payback period = RM 1,140,000 / RM 1,987,000 = 0.57 years Basically, payback period is used by small firms to evaluate most projects or small projects in larger firms. The computation is simple and easy to apply. By measuring how quickly the firms get to recover from its initial investment, payback period gives implicit consideration to the timing of cash flows. Many firms use payback period as a decision criterion to other decision as it can be viewed as a measure of risk exposure. The longer the firm must wait to recover its invested fund, the greater the possibility of a calamity. So, the shorter the payback period, the lower the firms exposure to such risk. Payback period cannot be specified in light of wealth maximization goal because it is not based on discounting cash flows to determine whether they add to the firms value. Payback period is viewed as an unsophisticated capital budgeting technique because it does not explicitly consider the time value of money. The calculation above shows that payback period for our new project is one year. Why is it so short? It is because our cash inflow in year 1 which is RM 1,987,200 is higher than the initial investment which is RM1,140,000. So, we get to cover back our initial investment and have an extra of RM 847,200 of revenue in year one. We should be glad that we able to pay back the initial investment within one year but please do not forget that it does ignore the time value of money. In finance, we always mention time value of money. But, do we really know what does it mean? Well,

Acid Rain Legislation :: essays research papers

Acid Rain Legislation Acid rain is a destructive force as a result of nature and man colliding. It is formed through harmful industrial emissions combining with contents of the earth's atmosphere; a dangerous combination. This prompted governments throughout North America to take action. Many laws and regulations have been implemented, yet the question still remains, "Should tougher legislation be implemented to force industries to reduce acid rain emissions?" To decide whether tougher legislation should be implemented, one must first understand the details of what exactly acid rain is. Acid rain is a result of mankind's carelessness. It travels a long one of the most efficient biogeochemical cycles on earth, the Hydrologic Cycle. This allows acid rain to distribute itself further away from it's source causing more than local problems. Sulfur Dioxide (SO2) is released by fossil fuels when they undergo combustion. Power plants and other fossil fuel burning industrial areas release various forms of nitrous oxides (Nox). These two chemical compounds combine with the water in the atmosphere to form what is known as acid rain. The main reason that has prompted legislation of industrial emissions from governments is because of the negative effects they can have on the environment. Acid rain is harmful to the environment because of it's low pH. It can harm the biotic components of earth, and also the abiotic components. It's high acidity degrades soil to the point where it cannot support any type of plant life. Trees in forests are killed over long-term exposure. When these trees are killed, an imbalance in the hydrologic cycle can occur. Without living trees to consume the precipitate, it must be consumed by the earth or any other plants. These will receive an excess of water, causing other problems in the hydrologic cycle. This in turn causes a chain reaction of death among our forests. Some regions are more susceptible to acid rain because they don't have enough Alkaline soil to "neutralize" the acid before it is able to destroy the rest of the soil or before it can run off into lakes or rivers. Aquatic environments can be greatly affected by soil runoff. Acidic soil may runoff into lakes and rivers due to erosion, causing acid rain to destroy more environment. Acid rain aquatic animals as well as aquatic plant life. When acid rain combines with water in major bodies of water, it not only destroys wildlife habitat, it destroys our drinking water. An aquatic ecosystem is very dependent on each and every aspect within itself. Once one species dies off, others that depend on it, will eventually begin to die off also.

Enviromental Effects on Behavior Essay -- essays research papers

The level of genetic influences on a person’s behavior is called the heritability of the behavior. Based on previous research intelligence as measured by IQ scores is thought to be attributed mostly to genetic influences. However it has been suggested by several researchers that genetic influences are moderated by the environment a person grows up in. There have been several studies that have explored the effects of environmental effects on heritability. However these studies have been methodologically limited because they did not have a large enough sample size or they did not measure the zygosity of the twins they use. Other studies measured change in heritability across different birth cohorts. However these studies might have been influenced by the different circumstances that might have been present during the different time periods these people lived in. Some general reasons why there is a lack of evidence for the moderating effects of the environment is that the studies conducted so far did not use measures environmental variables to detect differences in the environm...

Media Violence Essay

With each final draft submitted, a Student/Teacher Memo must be included. This memo will take the place of a cover page. This memo asks you to answer the following questions: 1. What was your purpose? What effect were you trying to achieve? There are a total of three minor purposes in this paper: first, to define media violence; second, to write why media violence should be extinguished from the society; third and final, to write how media violence could be extinguished from the society. The overall purpose, on the other hand, is to encourage the extinguishing of media violence by laying out its negative effects, particularly to the youth society. 2. What was interesting about the process you went through in writing this paper, and what did you learn from it? The interesting thing about the process when I wrote the paper was the portion when I was asking myself why, indeed, has youth violence continued to prevail, even if there had been laws and regulations in relation to controlling this event. I realized that the law had not really sunk into the lives of the citizens. 3. What was the most difficult about this paper, and what did you learn from the attempt? The most difficult portion was trying to explain, in detail, how media violence affects the behavior of a child or a youth. From that attempt, I learned that, in an argumentative paper, there is nothing better than having many references around. 4. What do you see as the strengths of the paper, and what would you try to do if you were to revise it some more? I think that the strengths of the paper have something to do with the exhaustive description of each stage†¦ each picture that can be brought to light. If I would revise it some more, though, I would add extra pages on more exact proposals, and more on the negative consequences of the proposals. 5. What’s not a part of your paper that you think might help a reader understand or appreciate it more? What didn’t you put in? Are there certain events or feelings or memories that led you to write on this topic or to take this approach? I think it would be better if there are portions on the laws and regulations that were approved or amended by the constitution in connection to media violence. It would also be good to insert a true-to-life case where media violence appeared to be the major cause of crime in a youth’s life episode. 6. What feedback or reactions did you get at various times in this paper, and how much did you make use of them, if at all? Any other kinds of help-from classmates? teachers? others? My recent feedbacks or reactions were fine. I used them to increase information that is more detailed and descriptive. Yes, there is always help from teachers and friends. 7. What kind of feedback or response would you like from your reader? I would definitely want a feedback that is positive and inspiring. Name Professor Course 6 June 2008 Proposal Argument: Media Violence Should Be Extinguished from the Youth Society David Buckingham wrote that â€Å"[R]epresentation begins at a very young age† (16). The television, for example, displays an array of shapes, colors, and sounds. For those who are below the age of two, the television may appear to be a ‘magic window’ where tiny creatures live and exist. By the time they reach two years old, they seem to understand that the television is a medium that displays things and events. Then by the time they reach kinder, they get to have the ability of perceiving the relationship between pictures in the media and those that are in real life. As they enter elementary, they get to see that there are different types of shows, such as cartoons or entertainment shows; they start to explore the relationship between reality and fiction. By middle childhood, they get to have the ability to get motivated or inspired by pictures represented in the media. By early adolescence, they begin to develop social understanding on what they perceive, relating it to real-life incidents, and creating a tendency to relate things in life with what they see or hear in the media. This paper talks of the negative effects of media violence to the youth society. In the end, it will be evident what media violence is, and how and why media violence should be extinguished from the youth society. In connection to media, intense guidance is greatly needed when and before a child reaches the adolescence period. Media has its greatest power over the youth during this vulnerable state of early adolescence, for it is the time when they perceive images according to their belief and understanding, labeling them as positive or negative, based on their perception of what it is†¦ then they act out what they see in it.

As Psychology Essay

One of the key differences between the concepts of STM and LTM is duration. â€Å"Duration† refers to how long a memory lasts before it is no longer available. Short term memories don’t last very long. An example of STM in action would be trying to remember a seven-digit phone number that you have just been given. This is maintained in the short-term memory by REPETITION until the number is dialled, and then fades once the conversation starts. The way most people keep information in their STM for more than a few seconds is to rehearse it. So rehearsal is one way of keeping a memory active. The result of verbal rehearsal is that STM are held in the STM store and eventually become long term. Duration of LTM LTM refers to memories that last anywhere for 2 hours to 100 years plus, i. e. anything that isn’t short term. Some memories are very long lasting. For example Shepard (1967) tested duration of LTM. He showed participants 612 memorable pictures, one at a time. An hour later they were shown some of these pictures among a set of others and showed almost perfect recognition. Four months later they were still able to recognise 50% of photographs. The material to be remembered was more meaningful to the participants and therefore the duration of the LTM was better. Key study on duration of STM Lloyd and Margaret Peterson (1959) conducted a landmark study of the duration of STM. They enlisted the help of 24 students attending their university. The experimenter said a consonant syllable to the participant followed by a three-digit number (e. g. WRT 303 or SCX 591). The consonant syllable was selected to have no meaning. Immediately after hearing the syllable and number, the participants had to count backwards from this number in 3s or 4s until told to stop. Then the participants were asked to recall the nonsense syllable. The reason for counting backwards was to stop the participants rehearsing the syllable because rehearsal would aid recall. Each participant was given two practice trials followed by eight trials. On each trial the retention interval (time spent counting backwards) was different. They found that participants remembered about 90% when there was only a 3-second interval and about 2% when there was an 18-second interval. This suggests that, when rehearsal is prevented, STM lasts about 20 seconds at most. Evaluation The findings from the Peterson and Peterson study have been challenged. We might argue that, in this experiment, participants were relying on more than STM alone because they knew they were going to be asked to recall the items after an interval filled with a distracting activity. Other research such as Marsh et al, (1997) has suggested that when participants do not expect to be tested after this interval, forgetting may occur after just 2 seconds. This suggests that our understanding of the duration of STM may not be as clear-cut as first thought. In fact, more recent research even suggests that the duration of STM is not as short as Peterson and Peterson’s study would suggest. Nairne’s et al (1999) found that items could be recalled after as long as 96 seconds. In Nairne’s study, participants were asked to recall the same items across trials, whereas in the earlier study different items were used on each trial, which would have led to interference between items, decreasing recall. Capacity and Encoding Capacity is a measure of how much can be held in memory. It is measured in terms of bits of information such as number of digits. STM has a very limited capacity (less than 7 chunks of information) whereas LTM has potentially unlimited capacity. Increasing the capacity of STM The magic number 7+/-2 George Miller (1956) wrote a memorable article called â€Å"The magic number seven plus or minus two†. He reviewed psychological research and concluded that the span of immediate memory is 7; people can cope reasonably well with counting seven dots flashed onto a screen but not many more than this. Miller also found out that people can recall 5 words as well as they can recall 5 letters – we chunk things together and can then remember more. The size of the chunk matters Simon (1974) found that people had a shorter memory span for larger chunks, such as 8-word phrases, than smaller chunks, such as one-syllable words. Evaluation Cowan (2001) reviewed a variety of studies on the capacity of STM and concluded that STM is likely to be limited to above 4 chunks. This suggests that STM may not be as extensive as was first thought. Vogel et al, (2001) looked at the capacity of STM for visual information and also found that 4 items was about the limit. Encoding in STM and LTM PAGE 23 Encoding is the way information is changed so that it can be stored in memory. Information enters the brain via the senses. It is then stored in various forms such as visual codes (picture), acoustic forms (sounds), or a semantic form (the meaning of the experience). Information in the STM is mainly encoded acoustically (information is represented as sound); whereas information in LTM tends to be encoded semantically (information is represented by its meaning). Acoustic and semantic encoding We can compare the ways information is stored in STM and LTM in terms of encoding of the memory trace. Acoustic coding involved coding information in terms of the way it sounds The multi-store model of memory The multi-store model of memory (MSM) is an explanation of how memory processes work. The MSM was first described by Richard Atkinson and Richard Shiffrin in 1968. There is three stores/components in the MSM which are the sensory memory, short-term memory and long-term memory. Sensory memory The sensory memory is composed of several stores which are the eyes, ears, nose, etc, and the corresponding areas of the brain. If a person’s attention is focused on one of the sensory stores, then the data is transferred to STM. Attention is the first step in remembering something. Short-term memory Information held in STM is in a â€Å"fragile state†. It will disappear relatively quickly if rehearsal is prevented. Information will also disappear if new information enters STM pushing out the original information. This happens because STM has a limited capacity. Long-term memory The second step is moving information from STM to LTM. Atkinson and Shiffrin said that this also happens through rehearsal. The more something is rehearsed the more it will be remembered. This kind of rehearsal is referred to maintenance rehearsal. Evaluation The sensory store Sperling (1920) gave participants a grid of digits and letters for 50 milliseconds. They were either asked to write down all 12 items or they were told they would hear a tone immediately after the exposure and they should just write down that row. When asked to report the whole thing their recall was poorer (5 items recalled, about 42%) then when asked to give one row only (3 items recalled, 75%). This show that information decays rapidly in the sensory store. The serial position effect Glazer and Cunitz (1966) gave participants a list of 20 words, presented one at a time, and then asked to recall words they could remember. They tended to remember the words from the start of the list (primary effect) and from the end of the list (recency effect) but were less good at recalling words in the middle. The primary effects occur because the first words are best rehearsed and transferred to LTM. The recency effect occurs because these words are in the STM when people start recalling the list. Areas of the brain associated with STM and LTM One way to demonstrate the existence of separate stores in memory is to link STM and LTM to specific areas of the brain. Modern techniques of scanning the brain can be used to take images of the active brain and enable us to see what region is active when a person is undertaking particular tasks. Research (Beardsley, 1977) has found that the prefrontal cortex is active when individuals are working on a task in STM. The working memory model Baddeley and Hitch (1974) used the term ‘working memory’ to refer to that bit of memory that you are using when you are working on a complex task which requires you to store information as you go along. The components of the working memory Central executive This is the key component of the working memory. The function of the central executive is to direct attention to particular tasks, determining at any time how ‘resources’ are allocated to tasks. The central executive has a very limited capacity. Phonological loop This also has a limited capacity. The phonological loop deals with the auditory information and preserves the order of information. Baddeley (1986) further subdivided this loop into the phonological store and an articulatory process. The phonological store holds the words you hear, like an inner ear. The articulatory process is used for words that are heard or seen (inner voice). Visuo-spatial sketch pad The Visuo-spatial sketch pad is used when you have to plan a spatial task (like getting from one room to another). Visual and/or spatial information is temporary stored here. Visual information is what things looks like and spatial information is the relationship between things. Logie (1995) suggested that the Visuo-spatial sketchpad can be divided into a visual cache (store) and inner scribe which deals with spatial relations. Episodic buffer Baddeley (2000) added the episodic buffer because he realised the model needed a general store. The episodic buffer is an extra storage system that has a limited capacity. It integrates information from the central executive, the phonological loop and the Visuo-spatial sketchpad and also from the long-term memory. Evaluation Doing two tasks using the same or different components Hitch and Baddeley (1976) gave participants two tasks to do simultaneously. Task 1 occupied the central executive and task 2 either involved the articulatory loop or both the central executive and articulatory loop. Task 1 was slower when given a task involving both the central executive and articulatory loop. The speed on task 1 was the same whether using the articulatory loop or no extra task. This shows that doing two tasks that involve the same component causes difficulty. Evidence for the central executive Bunge et al. (2000) used an fmri to see which parts of the brain were most active when participants were doing two tasks (reading a sentence and recalling the final word in each sentence). The same brain areas were active in either dual- or single – task conditions but there was significantly more activation in the dual-task condition indicating that increased demands were reflected in brain activity. Evidence for the Visuo-spatial sketchpad Baddeley et al. (1975b) demonstrated the existence of thee Visuo-spatial sketch pad. Participants were given a visual tracking task (they had to track a moving light with a pointer). At the same time they were given kne of two other tasks: task 1 was to describe all the angles on the letter F, task 2 was to perform a verbal task. Task 1 was very difficult but not task 2. This is also evidence related to the effects of doing two tasks using the same or different components. Evidence for the episodic buffer Baddeley et al. (1987) found that, when participants were shown words and then asked for immediate recall, their performance was much better for sentences (related words) then for unrelated words. This supports the idea of an immediate memory store for itesms that are neither visual nor phonological. Accuracy of Eye Witness testimony Loftus and Palmer were interested in whether misleading interesting distorted the accuracy of an eyewitness’s immediate recall. What did they do? 45 students were shown seven films of different traffic accidents. After each film the participants were given a questionnaire which asked them to describe the accident and then answer a series of specific questions about it. There was one critical question. This question was about ‘how fast were the cars going when they hit each other? One group of participants were given this question whereas the other five groups were given the verbs smashed, collided, bumped or contacted in place of the word hit. What did they find? The group given the world ‘smashed’ estimated a higher speed that the other groups (about 41 mph). The group given the word ‘contacted’ estimated the lower speed (about 30 mph). Evaluation Supporting DO LATER (PAGE 33) Factors influencing the accuracy of eye witnessing testimony Many researchers have looked at the relationship between anxiety and accuracy in eyewitness testimony. Deffenbacher et al. 2004) carried out a meta-analysis of 18 studies published between 1974 and 1997, looking at the effects of heightening anxiety on accuracy of eyewitness recall. From these studies it was clear that there was considerable support for the hypothesis that high levels of stress negativity impacted on the accuracy of eyewitness memory. Anxiety enhances recall Christianson and Hubienet te (1993) found when they questioned 58 real witnesses to bank robberies. Those witnesses who were threatened in some way were more accurate in their recall and remembered more detail than those who had been onlookers. This continued to be true even 15 months later. The weapon focus effect Johnson and Scott (1976) identified the weapon-focus effect. In their initial experiment, Loftus et al. used two conditions, one involving a weapon and one not. In both conditions participants heard a discussion in an adjoining room. In condition 1 a man emerged holding a pen and with grease on his hands. In conditions 2 the discussion was rather more heated and a man emerged holding a paperknife covered in blood. When asked to identify the man from 50 photos, participants in condition 1 were 49% more accurate, compared with 33% accuracy in condition 2. This suggests that the weapon may have distracted attention from the person holding it and therefore explain why eyewitnesses sometimes have poor recall for certain details of violent crimes. Evaluation Explaining the apparent contradiction Deffenbacher suggests that this contradiction in research finding could best be explained with reference to the Yerkes-Dodson law, which states that performance improves with increase of arousal up to some optical point then declines with further increase. Many researchers believe that anxiety effects in eye-witness testimony are curvilinear. This means that small to medium increases in arousal may increase the accuracy of memory, but high levels interfere with accuracy. Those studies which had found improved memory accuracy were most likely dealing with increased arousal within the first part of the Yerkes-Dodson curve, whereas studies which showed that accuracy decreases with increased arousal were most likely operating in the second part of the curve. MORE EVALUATION!! The cognition interview Fisher and Geiselman (1992) developed an interviewing technique, the cognitive interview. The original cognitive interview technique could be characterised by four distinct components 1. Report everything (hypermnesia) 2. Mental reinstatement of context- the interviewer encourages the interviewee to mentally recreate the environment and contacts from the original incident. 3. Changing the order- the interviewer may try alternative ways through the timeline of the incident, for example by reversing the order in which events occurred. 4. Changing the perspective- the interviewee is asked to recall the incident from multiple perspectives The first two components are based on the principle that if there is consistency between the actual incident and the recreated situation, there is an increased likeliness that witnesses will recall more detail therefore more accurate in their recall. The latter two components are based on the assumption that information that observed can be retrieved through a number of different routes into an individual’s memory. Evaluation Kohnken et al. , (1999) did a meta-analysis of 53 studies found, on average, an increase of 34% in the amount of correct information generated in the cognitive interview compared with standard interviewing techniques. Milne and Bull (2002) examined the relative effectiveness of each of the four components of the cognitive interview. Undergraduate students and children were interviewed using one of the components of the cognitive interview and compared to a control condition (where they were instructed to simply ‘try again’). When participants were interviewed using a combination of the components ‘mental reinstatement’ and ‘report everything’ their recall was significantly higher than in all other conditions.