The Cruelty Experienced By Slave Women Essay - 760 Words

The Cruelty Experienced by Slave Women Harriet Jacobs, Incidents in the Life of a Slave Girl (New York: W.W. Norton and Company, 2001) Slavery was one of the most horrific ways of life; therefore, slaves went to great lengths to protect themselves and the ones they loved. These slaves took many risks in hopes that one day slavery would be abolished and that African Americans would no longer be treated in such a manner. Harriet Jacobs helps readers visualize the life of slave women by describing how they were sexually harassed, given limited power, and at times, separated from their children. She also managed to resist the force of slavery and her master in ways, such as running away and having a relationship with men other than her master. Jacobs makes a valid argument that women in slavery suffered much more than men. Special burdens were placed upon slave women that were not placed upon slave men. In nearly all cases, slave-owners would pursue their young slave girl until she submitted to him. To get her to sleep with h im, he first â€Å"[bribed] her with presents. If these [failed] to accomplish their purpose, she [was] whipped or starved into submission to [his] will† (Jacobs 44). One of the worse threats these women received was the threat to sell their children to different owners (Jacobs 64). Men did not experience these trials in the fact that their owners would not sexually abuse them. Often times slave women were prohibited from marrying the man of their choice;Show MoreRelatedThe Harrowing Story Of Harriet Jacobs1284 Words   |  6 PagesHarriet Jacobs experiences with slavery opens the reader’s eyes to the special cruelty women endured under the watchful eye of their masters and mistresses. And while Jacobs openly admits that slavery is terrible fate for both men and women, there are additional burdens added to women who are forced to live under the commands of another. Jacobs writes, â€Å"Slavery is terrible for men; but it is far more terrible for women. Superadded to the burden common to all, they have wrongs, and sufferings, andRead MoreOverview. Octavia Butler’S Kindred Focuses On The Perspective1731 Words   |  7 PagesOctavia Butler’s Kindred focuses on the perspective of a black female within two drastically different societies ranging from the ideals of colonialism to a society of change and acceptance. Butler utilizes Dana’s position in society to portray the cruelty of slavery and the power that society can have on the ideals and morals of individuals, such as the developing character of Rufus. Throughout the book, the issue of slavery is addressed through a multitude of different themes that span across Dana’sRead MoreAnalysis Of The Movie Twelve Years A Slave Essay1684 Words   |  7 PagesWithout slavery, America’s history would not be the same anymore. The film Twelve Years a Slave by Steve McQueen is an adaptation of the 1853 slave narrative memoir twelve Years a slave by Solomon Northup. The movie gives us just enough ideas and information how slavery was back then. With just the first few minutes, the movie already brings its audience in about slavery by opening up with a group of slaves receiving instruction on cutting sugar cane. The film principal message about slavery concernsRead MoreThe Power of Sympathy Essay1179 Words   |  5 PagesIn the typical slave narrative, the intentions are fairly known. The author has written with a certain willingness that would appeal to the reader emotionally. There is a message behind every tear, or in this case, every page. The slave narrative was used to give others an insight of what they had endured. Grabbing the reader’s sympathy, they also now had the reader’s support (wsu.edu). This reasoning could be seen in several narratives from that off Jacobs, Douglass, and Equiano. The theme of theirRead MoreEquiano s Narrative Of The Life Of Olaudah Equiano Essay1579 Words   |  7 Pagesgot separated from him. This sets up the reader to know that there is plenty more tragedy to come. This is when he gets thrown into a life of slavery. From there he tries to wiggle his way out from the life of a slave and to create his own. Equiano uses anecdotes that he has experienced to prove to his readers that slavery is cruel and unforgiving, such as the time when he was being transported, to the treatment under his masters, and finally even when he was a free man. Being taken away fromRead MoreEquiano s Narrative Of The Life Of Olaudah Equiano1367 Words   |  6 Pagespurchased his freedom and wrote his autobiography in 1789. Equiano experienced hardships beyond imaging in his years as a slave and oftentimes witnessed extensive cruelty by whites towards Africans. Equiano s experience of the Atlantic slave trade and middle passage as we understand it today was typical of a regular captive. The Atlantic slave trade, more specifically the experience that Equiano had was horrific. The Atlantic slave trade stands as one of the greatest mistreatments towards other humansRead MoreDehumanization in Twelve Years a Slave: Narrative of Solomon Northup1295 Words   |  6 Pagestreated him humanely. Solomon Northup experienced shear torture, cruelty, and the loss of his dignity, throughout his many years as a slave. After many years, he came in contact with an abolitionist, who sent letters to Northup’s family to notify them of his life and stat us. He was soon rescued from Louisiana and freed as a slave. The narrative of Solomon Northup’s Twelve Years a Slave reveals the lived experience of dehumanization of the male slave, female slave, and the masters during the slaveryRead MoreRhetorical Analysis Of Douglass s The Great Gatsby 1208 Words   |  5 Pages† Through the personal experiences of his own life as a slave and his perseverance to become educated, Douglass shows us that it requires persistence and bravery to look for freedom. He also illustrates to the audience that there is no real end in this search for freedom until slavery is fully abolished. Purpose: Douglass wrote this book when slavery was still a normal and acceptable lifestyle in the US. Through his own sufferings as a slave, Douglass wants to show the American people the true injusticesRead MoreHarriet Tubman And Frederick Douglass Essay1421 Words   |  6 Pagesvery tender age, for instance, Harriet Tubman started working as a house servant at the age of six, while Douglas started working as a slave at the age of nine. During the time they worked as slaves, Fredrick and Tubman experienced the cruelties of slavery as well as witnessing the brutality that was upon the slaves. During this ear, many African Americans were slaves and they lived under harsh conditions and harsh rules from their owners. Some of them were beaten to death while others injured but stillRead MoreSlavery in Ancient Rome1491 Words   |  6 Pagesexperiences of enslaved women differed from the experience of enslaved men in ancient Rome; slavery within ancient Rome can be traced back to the fir st century BCE and was based primarily on the chattel slave system. Slavery within the ancient roman society was highly normalised as it was considered a part of roman culture. Slavery within ancient Rome was so heavily normalised that it is considered to be described as a â€Å"slave society† Joshel (2010, p. 6) states that â€Å"For slaves living in the Roman

Overview of the Conflict in Israel and Palestine - 2176 Words

Point by Point The two statements of mine you open with are not at all contradictory. There are problems in Israel and problems amongst the Palestinians/Arabs when it comes to achieving peace; to say that Israel is being dishonest in blaming Hamas lack of official recognition of the Israeli state does not preclude the fact that the emerging Palestinian state faces sever internal conflict regarding the direction it wants to pursue in all matters of foreign and domestic policy, and especially the issue of Israel. That you think these two situations cannot coexist or are somehow contradictory is confusing to me, and if I have misunderstood your objection I would very much appreciate clarification. Setting this aside, however, I will attempt to proceed as you have an address the other arguments you have made point by point. 1. The polls have found vary widely in their findings (and their reliability), but I absolutely agree that there is not a consensus on these issues and am willing to accept a division into thirds as you suggest. 2. It is also unquestionably true that Arafat failed to move his people to a peace deal on the terms being offered, yes. This did not occur in a vacuum, however, and the fact that some of his and the peoples objections might have been valid is certainly a salient point. 3. Again, the spiral you mention does not solely exist in Palestine. Real movement by Israel could also break the cycle of increasing agitation and anti-Israeli sentiment 4.Show MoreRelatedHow The Two State Solution Can Solve The Arab / Israeli Conflict825 Words   |  4 PagesArushi Saxena Period 4, History December 1st, 2015 How the Two-State Solution Can Solve the Arab/Israeli Conflict Over the years, people have argued about different solutions for the Arab/Israeli conflict. The Arab-Israeli conflict is an ongoing incongruity between Israelis and the Palestinians. Since 1948, the state of Israel is in the center of the dispute between the Palestinians and Israelis over who should own the land. The Jews (Israelis) claim that the land is theirs based on the promiseRead MoreThe Arab Israeli Conflict Of Palestine Essay1198 Words   |  5 PagesThe Arab-Israeli conflict began in 1948, when the British Mandate over Palestine ended. Resulting in the proclamation that established the Jewish state in Eretz Israel. The conflict was a struggle between the Jewish state or Israel and the Arabs of the Middle East concerning the territory and control over Palestine. The geographical area and political status of Palestine has changed dramatically over the years, but the region as always been considered Holy Land. This Holy Land is sacred among theRead MoreNonviolent Actions Tha t Could Leapfrog Current Issues Perpetuating The Israel Palestine Conflict2587 Words   |  11 Pagesissues perpetuating the Israel-Palestine conflict to bring about beneficial inter-dependence. To scope potential outcomes I will configure the fundamental interests of both parties, some barriers to reconciliation, then employing principles of Constructivist theory [1], explore harnessing and coordinating the potential of creativity and technology, as well as the influence and goodwill of social media. I conclude that this environment can lead to achievable options providing Israel security and defuseRead MoreHistory of Modern Palestine800 Words   |  4 PagesModern Palestine, Ilan Pappe attempts to add to the discussion of the struggle between Jews and their counterparts over the idea of Israeli state. Using documents that have been released by the Israeli secret service that one of his graduate students had found, Pappe attempts to paint a â€Å"new history of the conflict† in the Middle East. His books adds a new element to the argument. The documents, released in the late 1980s, but the US, UN, and Israeli government show that the state of Israel was notRead MoreThe Conflict Between Pfwac And Wac s Feminist Women s Activism And The Larger National Struggle1022 Words   |  5 PagesIn breaking ties with other organizations PFWAC and WAC risk losing support, both monetarily, physically, and personally. Secondly, in disengaging from nationalist discourses both PFWAC and WAC would need to establish a stance on the conflict and the future of Palestine, if it is not to be a nation. Further questions might also arise regarding the dismissal of nationalism and its concerns/goals in favor of women, thus derailing the need for a nation. PFWAC and WAC then risk not only alienating otherRead MoreThe Israeli Palestinian Conflict Of Palestine Essay2248 Words   |  9 Pageskilled since the start of the Israeli-Palestinian conflict in the late 19th century. T hroughout the past several decades the Israeli Zionists and Palestinian natives have fought over a section of land in the Middle East for recognition as an independent or bi-national country. This has led to a war in which a peaceful solution, and not just managing the problem but attempting to end the problem is paramount. The history of the Israeli-Palestinian conflict begins around 1880 whenever the original ZionistRead MoreHow Has Palestinian Application for Un Membership and Statehood Recognition Affected the Advancement of the Peace Process Between Israel and Palestine?4066 Words   |  17 Pagesstatehood recognition affected the advancement of the peace process between Israel and Palestine?â€Å" was to provide a thorough examination of the Arab-Israeli conflict and estimate the possible courses of its development in case of UN interference into the matter. The method used in the process of investigation consisted in accessing English and Israeli websites, including the official website of the Parliament of Israel, in order to collect the necessary information on the issue. A vast amountRead MoreThe Israel-Egypt Peace Treaty of 1979: A Balance of Peace and Power in the Middle East 1757 Words   |  8 PagesThe Arab-Israeli conflict, initiated over one-hundred years ago and still continuing, has confounded both policy-makers and citizens; despite the best efforts of foreign leaders, only one substantial accord has materialized in the decades of negotiations: the Israel-Egypt peace treaty of 1979. Before one undertakes to understand such a complex topic as the Israel-Egypt peace treaty, however, a broad knowledge of the historical background of the two countries involved is essential to understandingRead MoreThe past 60 years in the Middle East have been compiled of political, territorial and religious1100 Words   |  5 Pages The past 60 years in the Middle East have been compiled of political, territorial and religious turmoil. Despite the numerous wars and conflicts found throughout the history of this region, problems within the last half-century followed the 1967 War. The consequences that followed not only succeeded into further conflicts, but also established an underlying future for the region. Whether it determined alliances, enemies or configuration, the 1967 War laid out the preliminary foundation for itsRead MoreIsrael Palestine Conflict, an International Relations Research Paper8755 Words   |  36 PagesLAW UNIVERSITY, JODHPUR Subject: International Relations Israel- Palestine Conflict: History and Solution Submitted by: Mitali Agarwal and Pragati K. B Roll no. 924 Roll no. 929 IV semester IV semester BPSc LLB BPSc LLB Submitted to: Prof. Om Prakash National Law University, Jodhpur Abstract After more than 50 years of war, terrorism, peace negotiation and human suffering, Israel and Palestine remain as far from a peaceful settlement as ever. The entire

The Failed Vision Free Essays

If I were consulting with the HTE Board of Directors regarding Harold’s Leadership, from a transformational perspective, I would have advised them that Harold wasn’t a good leader and that his leadership style was damaging to HTE. Harold tried to bring about many changes to the company without recognizing the effects of the changes, which made him seems to look like he didn’t know what he was doing, though his intention was good. His past records were great, but the results from HTE didn’t demonstrate what was said about him. We will write a custom essay sample on The Failed Vision or any similar topic only for you Order Now His style of leadership was in line with the Pseudo-transformational leadership. Pseudo-transformational leadership refers to leaders who are self-consumed, exploitive, and power oriented, with warped moral values (Bass Riggio,2006). Pseudo-transformational leadership is considered personalized leadership, which focuses on the leader’s own interest rather than on the interest of others (Northouse, 20016, pg. 163). Harold was more worried about how he looks in position than what is good for the company. Harold should have focused more on the people and inspire them to make the change he wanted a success, but he didn’t involve them at all in the change process. This was damaging, which finally cause a major failure and serious loss in revenue to the company. Did Harold have a clear vision for HTE? Was he able to implement? Yes. Harold did have a clear vision for the company but didn’t have the correct method of leadership to make his vision to transform HTE. Harold wanted to prove that new technologies and advance management could make the company one of the best manufacturing companies in the nation. Harold created a vision, but it conflicted with his values and management style. It became very difficult for him to convey his vision to the employees in that they saw his vision as being against himself. The employees didn’t believe in the vision and were confused with all the changes. They were not involved in the change process and never had the voice when it came to feedback. Was he able to implement? No, he couldn’t implement anything because his leadership style was the Pseudo-transformational leadership which is an inspired leadership that is self-serving, unwilling to encourage independent ideas from followers and exhibits little care for others. This type of leadership has strong inspirational talent and appeal but is manipulative and dominates and directs followers towards his or her own values (Christie, Barling, et., al.,2011). This leadership also threaten the welfare of followers because it ignores the common good. How effective was Harold as a change agent and social architect for HTE? Harold at the beginning was very determined, but as time went by his vision seems to be uncertain. A blur vision which causes an overall effect of the reorganization was a precipitous drop in the worker morale and production. Harold wasn’t effective as a change agent because, in my opinion, I realize that Harold could not stand strong with his vision and mission. He could not influence the workers to follow his method. This made the employees feel instability, as they also started to find it very difficult to support the company’s vision. He faced a failure of having gained the employee’s trust. There wasn’t a good relationship between Harold and the employees. Their words were neglected by him, resulting in a huge gap between the leader and the employees. Harold couldn’t be considered as a social architect for HTE, because he did nothing that brought positive change to the company. Instead, he destroys the valued organizational history of the company, its revenues and lost the morale amongst the employees. What Would you advise Harold to do differently if he had the chance to return as president of HTE? I would advise him to humble himself and ask for consideration from all his senior and lower managers and begin developing a new relationship by communicating effectively with everyone and focusing on workers affairs and calming bad feelings, lifting spirits, and providing updates and progress reports as activities come. Then a new vision should be created that incorporates the needs of the company as well as feedback from the leadership. From a Bible standpoint and perspective, I will like to be a kind of leader that is unselfish, and not only concerned about my interest rather the interest of others as well and to lead my organization for the common good of all. In our quest for the marks of mature spirituality and leadership ability, we must not bypass that quality which so completely characterized the life of Jesus Christ, the quality of unselfish servanthood. Jesus said, â€Å"For even the Son of Man did not come to be served but to serve, and to give his life a ransom for many† (Mark 10:45) The apostle Paul added to this focus when he wrote, â€Å"Each of you should be concerned not only about your own interests, but the interests of others as well† (Phil. 1:4). But then pointing to the Savior as our great example, he quickly added, â€Å"You should have the same attitude toward one another that Christ Jesus had.† In conclusion, our leadership style as a believer in God Almighty should be model after our Lord and Savior Jesus Christ. Seeking not only our interest as leaders but for others as well and to also practice transformational leadership which is used in improving team development, (Bass ; Avolio,1994). Decision-making groups, quality initiative, and reorganizations. References Bass. M., ; Avolio, B. J. (1994). Improving organizational effectiveness through transformational leadership. Thousand Oaks, CA: SAGE. Bass, B. M., ; Riggio, R. E. (2006). Transformational leadership (2nd ed.). Mahwah, NJ: Lawrence Erlbaum. Christie, A., Barling., ; Turner, N. (2011). Pseudo-transformational leadership: Model specification and outcomes. Journal of Applied Social Psychology,44(12), 2943- 2984 Northouse, P. G. (2016). Leadership: Theory and practice (7th ed.). Thousand Oaks, CA: SAGE Publication How to cite The Failed Vision, Papers

Informative Speech on Obesity free essay sample

I. What if I told you that there is an epidemic affecting our country right now that is causing millions of Americans to develop life threatening diseases and die at an early age? You probably would want to know if there was a way that you could prevent this epidemic from affecting you. This epidemic I’m referring to is obesity and by living a healthy lifestyle it can be prevented. II. Today, I want to talk to you about two major ways you can become a healthier person. A. We all need to live healthy lifestyles in order to keep from becoming over weight and putting ourselves at risk for serious diseases III. As a student currently taking nutrition, I have learned about the epidemic about the many benefits of becoming a healthier person. IV. Two major ways to become healthier are following the Dietary Guidelines and exercising regularly. Body I. We will write a custom essay sample on Informative Speech on Obesity or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page One way to become a healthier person it to follow the Dietary Guidelines. A. First, on their website, the USDA describes the Dietary Guidelines as advice for Americans ages 2 and older that help them to maintain a healthy weight, reduce risk of chronic disease, and promote overall health. According to an article posted to The Journal of Nutrition in 2010, a large majority of the population does not meet the minimum recommendations released. B. Second, the Dietary Guidelines call for consumers to eat more nutrient dense foods. i. In July of 2011 the Harvard Heart Letter described nutrient dense foods as foods that are high in nutrition value and lower in calories. ii. Examples of nutrient dense foods are fruits, vegetables, whole grains, beans, and lean meats. C. Last, the Dietary Guidelines say to consume less saturated fats, added sugars, and refined grains. i. In his 2006 article in the American Journal of Prevention Medicine, Adam Drewnowski says that diets based on refined grains, added sugars, and added fats are more affordable than the recommended diets and therefore the majority of the population buys and consumes these foods. ii. According to Mayo Clinic, saturated fats are found in animal products, are solid at room temperature, and can cause cardiovascular disease. iii. Mayo Clinic reported on their website this year that if you fill up on foods with a lot of added sugars, you may skimp on nutritious foods and miss out on important nutrients that your body needs. A December 2008 article in Physician and Sportsmedicine states that whole grains are a source of vitamins, minerals, anti oxidants and dietary fiber. Refined grains are striped of all this nutritious value. (Transition: Now that you know about the Dietary Guidelines and the recommendations they make about healthy eating, let’s talk about the other major way to become healthier, which is exercising regularly. ) II. A major way to becoming healthier and keeping from becoming obese is exercising regularly. A. First, exercising burns calories. It is know that when you exercise you burn calories, which makes exercising important to weight management. ii. If you burn more calories than you consume you lose weight, you maintain weight when you equally burn the calories you consume, and you gain weight when you consume more calories than you burn. B. Next, exercising helps in the prevention of serious diseases. i. Mayo Clinic reported on their website in July 2011 that exercising keeps your blood flowing smoothly, which decreases your risk of cardiovascular diseases. Mayo Clinic added that exercising regularly can also help prevent stroke, type 2 diabetes, certain types of cancer, and arthritis. Conclusion I. In summary, I hope that you are more aware of the steps that you can take to become a healthier person, which are following the Dietary Guidelines and exercising regularly. II. It is easy to fall into a lifestyle of eating bad foods and not taking the time to exercise, but remember if we let ourselves live this way then there are serious consequences that we will suffer.

Marta Quest Review Essay Example

Marta Quest Review Paper Essay on Marta Quest One of the works on the theme of womens issues, womens place in life, .Voobsche society, about the works of Lessing, we can safely say that this is a kind of feminist pamphlets, and she, if not the precursor of feminism, the brightest follower, not to rush to extremes this course, but still .Zhelanie help women avoid the routine of everyday life, of marriage, according to the men-that is the main essence of her work. According to Lessing marriage is evil. You need to avoid the marriage at all costs. However, cyclical, cycling, common place of women in society, the society itself, and finally the physiological needs tightening heroine Provincial Martha Quest in their nets. Martha deny the quagmire, the narrowness of outlook, ignorance. Marty, who as a passion for literature and wanted to leave his fathers house and never to return. Martha looked at the familiar world around us with a touch of contempt. Martha, despise their parents for their miserable existence. Marta, who has not found the strength to change anything in your life. We will write a custom essay sample on Marta Quest Review specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Marta Quest Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Marta Quest Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Perhaps the female trouble is that initially we can not understand what we want from life. But if you understand and strive towards its goal, it brings to mind, is it possible to calculate their own lives and to live according to the calculation? Something tells me thats not possible. Still go wrong. To my deep regret, I did not find in this book, and other books Lessing themes of love between a man and a woman. It is love, not the relationship between the two sexes. Rather, it is present imperceptible its negation. Recognized the need for sexual relations, procreation, but the threads leading to the love I did not catch. (The product Love, love again presents not a lot of wrong love) I like sentimental and idealistic girl this is not nice. The thought creeps in that is not cynical, if not correct.

List of Jewish Schools in New Jersey

List of Jewish Schools in New Jersey Here is a list of Jewish schools in New Jersey, organized alphabetically by town. Adelphia Talmudical Academy of New Jersey Route 524, P.O. Box 7, Adelphia, NJ 07710732 431 1600Grades 9-12, All Boys Asbury Park Hillel Yeshiva High School 1027 Deal Road, Asbury Park, NJ 07712732-493-0420Grades 9-12, Coed Bayonne Yeshiva Gedolah of Bayonne 735 Avenue C, Bayonne, NJ 07002201 339 7258Grades 9-12, All Boys Bergenfield Yeshivat Noam School 139 South Washington Avenue, Bergenfield, NJ 07621201 439 1919Nursery School Summer Camp Bridgewater The Preschool Place Kindergarten N Bridge Street, Box 6007, Bridgewater, NJ 08807908 722 0101PKK Cherry Hill Congregation Mkor Shalom Preschool 850 Eversham Rd NJ 08003856 424 7339 Delaware Valley Torah Institute 31 Maple Avenue NJ 08002856 482 8230Grades 9-11, All Boys Katz Jewish Community Center E 1301 Springdale Rd NJ 08003856 424 4444 Politz Day School 720 Cooper Landing Road NJ 08002856 667 1013 Temple Beth Sholom 1901 Kresson At Croppwell NJ 08003856 751 0994 Clifton Clifton Ym Ywha 199 Scoles Avenue NJ 07012973 779 2980PK K Mesivta of Clifton 338 Delawanna Ave, Clifton, NJ 07014973-779-4800Grades 10-12, All Boys Deal Park The Center Play Sch Jewish 100 Grant Ave NJ 07723732 531 9100 East Brunswick Solomon Schechter Day School 511 Ryders Lane NJ 08816732 238 7971 Temple Bnai Shalom Po Box 957 NJ 08816732-251-4300 East Windsor Morris Namias Shalom Torah Acd 639 Abbington Drive, East Windsor, NJ 08520609 443 4877 Edison Rabbi Jacob Joseph Yeshiva 1 Plainfield Avenue, Edison, NJ 08817732 985 6533Grades 9-12, All Boys Rabbi Pesach Raymon Yeshiva 2 Harrison Street NJ 08817732 572 5052 Egg Harbor Township Trocki Hebrew Academy of Alant 6814 Black Horse Pike NJ08234 609 383 8484 Elberon Ilan High School 250 Park Avenue NJ 07740732 870 2800 Elizabeth Bruriah High School For Girls 35 North Avenue NJ 07208908 355 4850 Jewish Educational Center 330 Elmora Ave NJ 072089083534446 Englewood Moriah School of Englewood 53 South Woodland Street NJ 07631201 567 0208 Yeshiva Ohr Hatalmud of Englewood 101 West Forest Avenue, Englewood, NJ 07631201 816 1800Grades 9-12, All Boys Fairlawn Helen Troum Nurery School Kindergarten 4-10 Fair Lawn Ave 25 NJ 07410201 797 2865 Franklin Lakes Barnert Temple Preschool 747 Route 208 South NJ 07417201 848 1027 Highland Park Atid Po Box 1503 NJ 089047329856378 Reenas Bais Yaakov 1131 Raritan Ave, Highland Park, NJ 08904732-985-5646Grades 10-12, All Girls Ym-ywha of Raritan Valley 2 South Adelaide Avenue NJ 08904732 249 2221 Hillsborough Temple Beth El School 67 Us 206 NJ 08844908 704 1712 Howell Solomon Schechter Academy 395 Kent Road NJ 07731 732 370 1767 Lakewood Bais Faiga Park Avenue Campus 100 Park Ave NJ 08701732 367 6708 Bais Kaila Torah Preparatory High School for Girls Po Box 952, Lakewood, NJ 08701732 370 4300Grades 9-12, All Girls Bais Rivka Rochel School 285 River Avenue NJ 08701732 367 4855Grades K-8, Coed Bais Shaindel High School For Girls 299 Monmouth Avenue, Lakewood, NJ 08701732 363 7074Grades 9-12, All Girls Bais Tova Inc. 961 E County Line Rd NJ 08701732 901 3913 Bais Yaakov Bnos Chayil School 124 Gudz Road NJ 08701732 886 5100 Bais Yaakov Bnos Rivka 1501 Canterbury Road NJ 08701732 370 0100 Bnos Bais Yaakov Tzipa Grumet High School 155 Oberlin Ave N, Lakewood, NJ 08701732-363-0329Grades 9-12, All Girls Bais Yaakov High School of Lakewood 277 James st., Lakewood, NJ 08701732-370-8200Grades 9-12, All Girls Bezal-el Yeshiva 419 5th St NJ 08701732 363 1748 Bnos Brocha 763 River Ave, Lakewood, NJ 08701732-905-3030Grades K-6, All Girls Bnos Devora 243 Prospect St., Lakewood, NJ 08701732-905-4455Grades K-2, All Girls Bnos Yaakon Elementary School 2 Kent Road, Lakewood, NJ 08701732 363 1400Grades KG-8, All Girls Cheder Toras Zev 108 Chateau Drive, Lakewood, NJ 08701732-901-5060Grades K-2, All Boys Jewish Education for Girls 1050 Tuxedo Ter, Lakewood, NJ 08701 Lakewood Cheder School for Boys 901 Madison Ave Po Box 838 NJ 08701732 364 1552 Lakewood Cheder School for Girls 350 Courtney Road NJ 08701732 363 5070 Mesivta Keser Torah 455 14th Street, Lakewood, NJ 08701732 681 5656Grades 9-12, All Boys Mesivta of Lakewood 415 6th Street NJ 08701732 367 7345 Mesivta Nachlas Yisroel 1441 Oakwood Ave, Lakewood, NJ 08701914-261-8445Grades 9-12, Coed Mesivta Pe’er Hatorah 501 Prospect St., Lakewood, NJ 08701732-370-2362Grades 9-12, All Boys Mikor Hatorah 7 Sequoia St, Lakewood, NJ 08701732-370-0570Grades 9-12, All Boys NJ Center For Judaic Study 801 West Kennedy Blvd NJ 08701732 363 9817 Ohr Chodosh 1015 Park Avenue NJ 08701732 364 7062 Oros Bais Yakov 50 Lapsley Lane, Lakewood, NJ 08701732-370-6049Grades 9-12, All Girls Talmud Torah Ohr Elchonon 805 Cross St. Ste 1, Lakewood, NJ 08701732 730 2820Grades 1-8, 191 Students, All Boys Tashbar of Lakewood 655 Princeton Ave NJ 08701732 905 1111 Tiferes Bais Yaakov 170 Oberlin Ave N #8 NJ 08701732 364 0466 Torah Institute of Lakewood 327 Carey Street NJ 08701732 905 9830 Toras Imecha 1 E 13th St NJ 08701732 730 1259 Yeshiva Bais Aharon 1430 14th Street, Lakewood, NJ 08701732-367-7604Grades 9-12, All Boys Yeshiva Bais Pinchos 1951 New Central Ave, Lakewood, NJ 08701732-367-2880Grades 9-12, All Boys Yeshiva Bais Yisroel High School 423 6th St, Lakewood, NJ 08701732-691-2907Grades 10-12, All Boys Yeshiva Birchas Chaim 960 West Kennedy Blvd NJ 08701732 370 2182Grades 9-12, All Boys Yeshiva Chayei Olam 14 E 11th St, Lakewood, NJ 08701732-363-1267Grades 9-12, All Boys Yeshiva Ktana of Lakewood 120 2nd St, Lakewood, NJ 08701732 363 0303Grades KG-12, All Boys Yeshiva Gedolah Meor Hatorah 66 Tova Dr., Lakewood, NJ 08701732-367-7590Grades 9-12, All Boys Yeshiva Gedola of Woodlake Village PO Box 974, Lakewood, NJ 08701732-730-2808Grades 10-12, All Boys Yeshiva Keter Torah 209 2nd Street NJ 08701732 961 9731 Yeshiva Masoras Avos 23 Congress St NJ 08701732 942 7522 Yeshiva Orchos Chaim 410 Oberlin Avenue South NJ 08701732 370 0799 Yeshiva Shaarei Orah 685 8th St, Lakewood, NJ 08701732-995-6701Grades 9-11, All Boys Yeshiva Tiferes Torah 75 East End Avenue Po Box 420 NJ 08701732 370 9889 Yeshiva Toras Aron 500 Summer Ave, Lakewood, NJ 08701732-360-9980Grades KG-6, All Boys Yeshiva Toras Chaim PO Box 16, Lakewood, NJ 08701732-414-2834Grades 9-12, All Boys Yeshiva Yesodei Hatorah 708 Princeton Ave, Lakewood, NJ 08701732-370-3360Grades 10-11, All Boys Yeshivas Emek Hatorah 12 Sharon Ct, Lakewood, NJ 08701Grades 10-11, All Boys Yeshivas Ohr Yissochor 300 Cross St., Lakewood, NJ 08701732-901-7608Grades 9-12, All Boys Zecher Yochanan 123 Delaware Trl, Lakewood, NJ 08701732-942-4852Grades K-3, Coed Livingston Joseph Kushner Hebrew Academy 110 S Orange Ave NJ 07039973 597 1115 Kushner Yeshiva High School 110 S Orange Ave NJ 07039973 597 1115 Sinai Special Needs Institute 110 S Orange Ave NJ 07039973 597 0770 Manalapan Congregation Sons of Israel Nu Po Box 369 NJ 07726732 446 4924 Temple Beth Shalom 108 Freehold Rd NJ 07726732 446 1224 Temple Shaari Emeth Early Po Box 360 NJ 07726732 462 3264 Marlboro Marlboro Jewish Center Nursery 103 School Road West NJ 07746732 536 2303 Solomon Schechter Day School P O Box 203 NJ 07746732 431 5525 Morganville Shalom Torah Academy 70 Amboy Road NJ 07751732 4462121 Morristown Cheder Lubavitch 226 Sussex Avenue NJ 07960973 4550168 New Milford Solomon Schecter Day School of Bergen County 275 Mckinley Avenue NJ 07646201 2629898 Oakland Gerrard Berman Day School 45 Spruce St NJ 07436201 337 1111 Ocean Deal Yeshiva - Boys Division 1515 Logan Rd NJ 07712732 663 1717 Hillel High School 1027 Deal Road NJ 07712732 493 0420 Hillel Yeshiva School 1025 Deal Road, Ocean, NJ 07712732 493 9300Grades PK-12, Coed Ilan High School 120 Roseld Ave, Ocean, NJ 07712732-517-111Grades 9-12, All Girls Paramus The Frisch School 120 West Century Road, Paramus, NJ 07652201-267-9100Grades 9-12, Coed Frisch Yeshiva High School 243 Frisch Court NJ 07652201 845 0555 Yavneh Academy 155 N Farview Ave NJ 07652201 262 8494 Passaic Bais Yaakov of Passaic High School 181 Pennington NJ 07055973 365 0100 Mesivta Tiferes Rav Zvi Aryeh Zemel 15 Temple Place, Passaic, NJ 07055973 594 9001Grades 9-12, All Boys Ybh of Passaic 565 Broadway NJ 07055973 777 0735 Yeshiva Ktana of Passaic 249 Terhune Ave NJ 07055973 365 0100 Piscataway Yeshina Shaarei Tzion 51 Park Avenue NJ 08854732 235 0042 Yeshiva Shaarei Tzion Boys 120a Ethel Rd W NJ 08854732 777 0029 Randolph Hebrew Academy of Morris County 146 Dover Chester Road NJ 07869973 584 5530 River Edge Yeshiva of North Jersey 666 Kinderkamack Road NJ 07661201 986 1414 Rockaway White Meadow Temple School 153 White Meadow Road NJ 07866973 627 2511 Scotch Plains Nursery School-Jewish Community 1391 Martine Avenue NJ 07076908 889 8800 Short Hills Bnai Jeshurun Ecc 1025 S Orange Ave NJ 07078973 379 1555 South Orange Beth El Preschool Kindergarten 222 Irvington Ave NJ 07079973 763 0113 Mickey Fried Nursery School 170 Scotland Road NJ 07079973 762 7069 South River Moshe Aaron Yeshiva High Sch 34 Charles St NJ 08882732 613 7460 Springfield Temple Beth Ahm Preschool K 60 Temple Dr NJ 07081973 376 0539 Teaneck Maayanot Yeshiva High School for Girls 1650 Palisade Avenue, Teaneck, NJ 07666201 833 4307Grades 9-12, All Girls Sinai Schools - Special Education School 1485 Teaneck Rd, Suite 304, Teaneck, NJ 07666201-833-1134Grades 1-12, Coed Sinai Special Needs Institute 1650 Palisade Avenue NJ 07666201 833 9220 Sinai High School for Boys Special Needs Institute 1600 Queen Anne Rd, Teaneck, NJ 07666201 833 9220Grades 9-12, All Boys Torah Academy of Bergen 1600 Queen Anne Rd NJ 07666201 837 7696 Trenton Ring Kindergarten 999 Lower Ferry Road NJ 08628609 883 9550 Union City Mesivta Sanz 3400 New York Ave NJ 07087201 867 8690 Vineland Early Learning Center 1015 E Park Ave NJ 08360856 691 0811 Voorhees Early Childhood Center of Cong 8000 Main Street NJ 08043856 675 1162 Kellman Brown Academy 1007 Laurel Oak Road, Voorhees, NJ 08043856-697-2929Grades PK-8, Coed Warren Mountain Top Preschool Kindergarten 104 Mt. Horeb Road NJ 07059 732 748 9800 West Long Branch Deal Yeshiva 200 Wall Street Po Box 98 NJ 07764732 229 1717 Ma’or Yeshiva High School for Boys PO Box 254, West Long Branch, NJ 07764 West Orange Golda Och Academy (formerly Solomon Schechter Day School of Essex Union) 1418 Pleasant Valley, West Orange, NJ 07052973-602-3601Grades PK-12, Coed Jewish Comm Cnt Metro West 760 Northfield Avenue NJ 07052973 736 3200 Whippany Jewish Comm Cnt Metro West 901 Route 10-east NJ 07981973 929 2920 Wyckoff Beth Rishon Nursery School 585 Russell Avenue NJ 07481201 891 6074 Updated by Stacy Jagodowski  - See updates that need to be made? Tweet me stacyjago

OBESITY Thesis Proposal Example | Topics and Well Written Essays - 250 words

OBESITY - Thesis Proposal Example The control group could be selected from the same sample of students who engage in active sports. The weight gain for both group of students is monitored for a specific period of time to establish the relationship between inactivity and obesity] 3. Does obesity play a major role in increasing the cost of healthcare in the United States?[Provisional answer: Yes, the cost of treating obese people in the country is raising] 4. Should the government enforce strict dietary and exercise regimen in schools to control incidents of obesity? [Provisional answer: Yes. Compulsory physical exercises and regulated diet should be imposed on all school-going children.] Thesis The government should enforce strict physical education program and dietary restriction in all schools to control the prevalence of obesity in the society. Nutritionists and researchers attribute poor dietary habits and lack of exercises as the major causes of obesity in the society (Bernard, 2007). These detrimental habits dev elop in the early stages of child development especially in schools.

Tasks Assignment Example | Topics and Well Written Essays - 750 words

Tasks - Assignment Example Thinking of being a leader is actually not a dream but only a sort idea that comes to mind. There was a time when self-control has been tested too much and leading the crowd is actually a must. There was this one project that has been given to the group. Equality is actually there and having a leader is not an obligation for the mentioned group. Everyone can speak, everyone can lead. However, when everyone is so busy with other stuff such as with their studies (Masters Studies) and family, the project has been forgotten. I took the courage to speak to them regarding our project though it feels a little bit overwhelming. Responsibilities are there however, thinking that I also belong to the group and the project is mine too gave me the courage to do it so. I was afraid of having no project to pass and so I stepped out and led my busy co-workers. Different tasks have been given to everyone so that they could focus and budget their own time more. Though I felt so nervous and worried of what they would say, I still did what I thought was best for all of us. The major concern I had in mind was if they would follow me or judge me instead. To tell more of the story, thanks to their support and understanding for the group’s need, everyone cooperated well enough making the project become a success. However, for me, the true success I received during that time is that, I took the courage to lead my co-workers and had good feedbacks from them. They told me that what I did is actually an act of true leadership. True leadership does not come from words but through actions. 2. Authentic and Effective Leader Authentic leadership is actually a way of leading people through conformation of an original one or act to produce essential features. A person cannot really imitate someone else however, he can learn from their experiences. I can say that being learned and inspired through the old stories of leadership is one of the good steps to strain toward proper leadership. T he integrity, passion and dedication of past leaders could really help on becoming an effective leader. Actually, Pettinger (n.d.) discussed it to his note that to become an effective leader, one must be led by example, humble, with appreciation to co-workers, have a clear vision, avoids arguments, listens to other members, creates a positive atmosphere and some who does not take himself too much. Someone can be an effective leader without imitating others but only being inspired by their works or what they did. It is actually easy if the heart of serving and dedication to work is there. 3. Crucible Experience The crucible experience I ever had regarding leadership is just the same with what have been told above. It was when I got confused upon choosing what step to do for the better improvement of our group project. The challenge of speaking and giving tasks to a group without a leader was really not a good experience. It is actually shameful to give tasks to people (your co-worker s) knowing that you have the same level of position in the group. It became a challenge if they would listen and follow or just ignore me though. However, with the thought I had in mind regarding the consequences of being the leader of the group for a while and the courage and perseverance of doing our work right, led me to achieve success and be a better individual, or I can say, a leader. My co-workers did their part and as a result, the project has become a success. 4. Self-awareness To improve

Subsidiarity in the EU and Federalism Thesis Example | Topics and Well Written Essays - 2500 words

Subsidiarity in the EU and Federalism - Thesis Example tem of governance with substate/s autonomously operating in a decentralized manner and yet still connected to central government in a collaborative governance. From the historical vantage, the principle of subsidiarity was first introduced by the Treaty of Maastricht, also known as Treaty of European Union (TEU) signed at Maastricht town in 1991, with its elaborate applications explicated through the protocol stipulated in the Treaty of Amsterdam (Eurofound, 2010a). This was perceived to be the turning point of EU integration (Eurofound, 2010a). This paper aims to discuss the theory of subsidiarity of Britain within the light of Germany and United States experiences. The TEU offered a commitment from the European Council (EC) to full Economic and Monetary Union (EMU), provision for European Central Bank, and the establishment of the ‘three-pillar’ structures. These pillars are the European Council, Common Foreign and Security Policy, and Cooperation in Justice and Home Affairs (Eurofound, 2010a). Under EMU, the definition of community was broadened to include the convergence of economic laws, social protection, and of the development of socio-economic cohesion (Eurofound, 2010a). The council have also set monetary policy, coordination with convergence criteria and a single currency (Eurofound, 2010a). Anent thereto was the establishment of institutional reform increased the legislative power of the parliament with the introduction of co-decision processes (Eurofound, 2010a). The Treaty of Amsterdam, on the other hand, was signed on 2 October 1997 by the Foreign Ministers of 15 EU member states and became effective when they ratified this in accordance to their constitutional policies (Eurofound, 2010b). The Treaty of Amsterdam of 1997 substantially amended the three pillar structure of Treaty on European Union to include relevant matters on employment and industrial relations; the acquis  of the 1985 Schengen Treaty pertaining to gradual abolition of common

International Operation Strategy of Eucerin: SWOT

International Operation Strategy of Eucerin: SWOT Chapter 1 Introduction 1.1 Research Background The use of cosmetics was over thousands of years. The earliest archaeological evidence can be traced back to some royalty in Ancient Egypt times, where the Ancient Egyptians mixed perfume, sandalwood incense and aromatherapy products with oil applied to human bodies for pilgrimages or as an antiseptic. The Ancient Greeks and Romans also used cosmetics containing often lead and mercury. In the West, the popularization of cosmetics usage began in the 17th century and was originally intended to cover face scars of female patients healed from smallpox. In the19th Century, Queen Victoria once declared publicly that the use of makeup was â€Å"improper, vulgar, and acceptable only for use by actors†. Nevertheless, by the Second World War, cosmetics have been widely used in the West (except Nazi Germany). Today, the worldwide market size for Beauty and Personal Care Industry (BPC Industry) has increased 36% during 2005-2010 and reached USD 382.3 billion last year.Despite the significant influence of global economic recession in the year of 2009, BPC industry still showed stable and continuous growth in certain regions with emerging markets, particularly in Asia Pacific and Latin America. It is forecasted that these two dynamic regions will drive the BPC future global sales and become equally the joint largest market (with Western Europe) by 2014. Figure 1 and 2 below shows the global and regional market value of BPC industry during 2005 to 2010. Cosmetics industry, also called Personal Care Products Industry, Cosmetics and Toiletries Industry, Health and Beauty Industry, or Beauty and Personal Care Industry in this paper, in which companies manufacture and/or market personal care products such as creams, lotions, perfumes or makeup, covers a fully 13 key sub-sectors (Fig. 3). Recent reports show that Skin Care is the largest sector in the BPC industry (Fig. 4). It is predicted that in 2014, Skin Care, together with Hair Care, Colour Cosmetics and Fragrances sector will become the principle contributors to global BPC sales value growth due to the booming market in Asia Pacific. In Asia Pacific region, China represents today one of the most important and attractive BPC markets in the world due to its huge population, the increasing purchasing power of consumer and a better awareness of fashion among the younger generation. According to National Bureau of Statistics of China, the retail value of Chinese BPC products reached RMB 133.24 billion (proximately USD 20.51 billion) in 2010 with a 11.4% nominal growth compared to 2009. The total Chinese BPC market value is expected to reach as much as RMB 206 billion (proximately USD 31.7 billion) by 2014. However, in spite of this rising trend, industry players talked about that the increasing costs such as rental, labour, logistic and advertisement has given heavy pressure on cosmetics companies particularly those who had poorer brand equity were losing their profit margin. 1.2 Research Motivation Funded by Dr. Lifschà ¼tz in 1900, Eucerin ® is now Germanys largest and worlds 4th leading dermo-cosmetics brand in pharmacy segment in Skin Care industry. Belonging to famous German Group Beiersdorf AG, Eucerin sees itself as a â€Å"dermatologist-recommended skin care brand† that provides reliable, high quality and effective dermo-cosmetic products and expertise. Currently, Eucerin provides skin care products that are catalogued in 4 major lines: Face Care, Sensitive Skin Care, Dry Skin Care (medical products) and Sun Protection. Each line contains quite a few sub-lines that are assorted either by skin types / products functions (pure, dry, very dry, problematic, sensitive skin, etc.) or by products application places of the skin (face, body, deodorant, hair, etc.). While Eucerin firstly entered into Asian BPC markets in 1991 and quickly built its brand awareness and popularity among the world of pharmacy skin care products in Thailand, Vietnam, Singapore and Malaysia, in China, however, it has being constantly a big â€Å"missing piece† to complete its global share of market. As Chinas BPC market size is currently rated in the 3rd position after the US and Japan and is still possessing enormous growth potential (12% market growth is expected during 2011 to 2014), and the Skin Care segment is the primary driver for BPC market, it is for Eucerins greatest interest and challenge how to exceed existing international and local skin care competitors to complete its global entire territory. 1.3 Research Scope and Objectives The purpose of this study is therefore attempting to assess and analyse the international operation strategy of Eucerin. Through the SWOT analysis, identify and highlight the key internal and external factors of corporate ongoing strategic planning, gaining an in-depth understanding of the companys strategic operational issues, critical success factors, emerging market opportunities and future marketing challenges and trends. The research scope covers issues including the study of BPC and dermo-cosmetics industry: market sales, market share, Chinese cosmetic market regulations, marketing strategy of Eucerin: marketing segmentations, positioning, and Chinese consumer behaviours. 1.4 Research Process and Chapter Structure The process of this research is approximately composed eight stages summarized as figure 6 underneath. By the case study of Eucerin a Beiersdorf owned dermo-cosmetics brand of BPC Industry, through the literature review, SWOT and critical success factors analysis, attempting to analyse, assess and obtain an embedded understanding of the companys strategic operational issues and its future marketing challenges and trends in Chinese BPC market. Chapter 2 Literature Review 2.1 Beauty and Personal Care Industry The global Beauty and Personal Care market (BPC market), also called Cosmetics and Toiletries market has generated total revenues of US$ 382.3 billion in 2010, representing a compound annual growth rate (CAGR) of 36% for the period 2005-2010. By comparison, markets of Asia Pacific, Western Europe and North America brought out 70% of global BPC market in 2010 (Fig. 8). Most interestingly, both Western Europe and North Americas BPC markets has witnessed the economic recession, showed a negative growth in 2009 and decelerated performance afterward, while markets in Asia Pacific and Latin America, sales growth continue and for the first time the BPC market of Asia Pacific region (mainly referable to China) overtook the first position of global BPC market (Fig. 9). 2.1.1 Market Segmentation and Differentiations BPC products cover all daily personal care cosmetics such as makeup, nail polishes, hair sprays, hair colours, creams, lotions, perfumes, deodorants, shower and bath gel, bath salts, and lots of other product types. The market can be sorted into a completed 13 key sub-sectors scope as we have mentioned earlier (Fig. 10). Skin Care segment is the leading category that generates 22% of worldwide BPC market due to Asia Pacifics booming sales, the rising demand of anti-age products also conducts the segment as the key contributors to global BPC market over the forecast period. Global skin care brands can be also sorted by their marketing positioning into six classes: professional brands, luxury/premium, pharmacy/dermo-cosmetics (cosmeceuticals), organic/natural brands, direct-selling and mass market products. Each segment targets different consumers according to their purchasing power, quality requests or specific needs, etc. Key competitors of each class are listed below: Professional skin care brands (distributed mainly by beauty salons, spas): Sothys Paris, Lexli, RVB, Sparitual, Lotusdream, etc. Premium skin care brands(distributed mainly by department stores, perfumeries), : Shiseido, Està ©e Lauder, Lancà ´me (LOrà ©al Group), Clinique (Està ©e Lauder Group), Kanebo (Kao Group), Chanel, Christian Dior (LVMH Group), SK-II (PG Group), Yves Saint Laurent (LOrà ©al Group), etc. Pharmacy/dermo-cosmetics brands(distributed mainly by pharmacies, drugstores or via dermatologists recommendations): Vichy (LOrà ©al Group), La Roche-Posay (LOrà ©al Group), Boots, Eucerin (Beiersdorf Group), Johnsons, Avà ¨ne (Pierre Fabre SA), Caudalie, Lierac, ROC (Johnson Johnson), Nuxe, Galenic, etc. Organic/natural brands(distributed mainly by speciality stores, natural food stores): Yves Rocher, The Body Shop (LOrà ©al Group), LOccitane Direct-selling brands: Avon (USA), Natura (Brazil), Mary Kay (USA), Oriflame (Luxembourg), Artistry (Amway corp. USA), DHC (Japan), Nu Skin (USA) Mass market brands(distributed mainly by supermarkets, hypermarkets): LOrà ©al Paris, Nivea (Beiersdorf Group), Garnier (LOrà ©al Group), Olay (PG Group), Neutrogena (Johnson Johnson), Ponds (Unilever Group), Vaseline (Unilever Group) Eucerin ® is catalogued in the pharmacy/dermo-cosmetics brand of skin care industry as its products can be only purchased in pharmacies or drugstores. 2.1.2 Skin Care Industry in Western Europe For BPC industry and consumers, it has been tough in the past couple of years. However, the latest data showed that Skin Care was the only category managing to sustain an average of positive 4% growth during the economic downturn.Comprising 23% of global BPC sales in 2010, it remained the most valuable category during 2005-2010. Despite the growth of Skin Care sector slightly slowed down due to the decreased consumptions on non-essential purchases, the global sales of Skin Care sector was still largely focused in mature Western countries. Anti-age cosmeceuticals were considered and predicted as the star performer for Skin Care market for the future couple of years while the premium and luxury products performed the worst and were pushed toward the category of super premium or â€Å"masstige†skincare for a better performance and the growth in both anti-age and premium was accelerated by the high demand in Asia Pacific. Comparing to Skin Care, global Hand Care sales showed a sli ght yet stable growth and the reason was believed to be linked directly with consumers threaten perception of swine flu. In Western Europe, while recent data showed a gradual result of an average 4% Skin Care sales growth in UK, Netherlands and Germany during 2009 2010, key markets such as France, Italy and Spain reflected an average of -2% in term of sales growth, resulting an overall 2% growth drop in Skin Care segment in Western Europe (Fig. 11 and Table 1). While the Skin Care sales growth in western European slowed down in recent years, anti-age sub-category maintained an outstanding growth reflecting the desire for a younger looking appearance from the consumers. Table 1 Skin Care in Key Western European Countries (2005-2010) Crossing the overall BPC Western European market, in 2010, the top 10 Skin Care brands which share 26.2% of the market are belonging to 7 companies: Beiersdorf AG, LOrà ©al Group, Procter Gamble Co., Clarins SA, Yves Rocher SA, Està ©e Lauder Cos Inc, and Henkel AG Co., in which 4 brands are categorised into mass market class (Nivea, LOrà ©al Paris, Oolay and Garnier), 3 in premium/luxary (Clarins, Clinique and Lancà ´me), 2 in pharmacy/dermo-cosmetics (Vichy and Diadermine), and Yves Rocher is classified into natural/organic brands. On the other hand, in terms of company shares in Western European Skin Care market where up to nearly 58.6% market shares are held by the top 10 BPC companies, their products are crossing over all cosmetics classifications and sales distribution channels except the direct-selling category (Appendix 1 2). In relation to consumers behaviour toward BPC market in Western Europe, four fundamental trends characterized by Lee (2010)that impact global BPC market across all categories may sum up this market trend: the ageing population, agelessness pursuance, advances of technology and intensive awareness of health and wellness. The Ageing Population The global population is becoming older. Comparing to Japan who has the oldest population in the world with nearly 23% over the age of 65 in 2010, the median age in Western Europe today is just over 40. Japan has the differentiation of being the largest Skin Care consumer on a per capita basis. In 2010, it accounted for 22% of global skin care sales with USD 19.3 billion and this may referable to its huge older consumers, high disposable incomes and the great interest in combination of health and beauty. Agelessness Pursuance The pursuance of younger looking is highly associated with increased life-pan and the development of technologies. People take greater care of their appearances in order to reflect their interior youthfulness. In result, for example, the high demands for cosmetic minimally-invasive treatment (including Botox, laser skin resurfacing, soft tissue fillers, etc.) that intending for skin firming and elasticity made up 11.6 million procedures in 2010 with 110% growth during 2000 2010 in the US and was expecting to reach totally USD 17.6 billion in 2015. Advances of Technology Skin Care companies and manufactures today are able to sell their products with higher prices thanks to the aggressive introductions of technologically advanced formulations. Consumers in Western Europe may willing to pay up to EUR 20, EUR 40 or even EUR 300 on a product that claims benefits such as firming or wrinkle reduction and contains innovative whatsoever ingredients, while a product that only provides a single basic function may not be able to sold even it only charges EUR 10. High Awareness of Health and Wellness The concerns about health and product safety among consumers in Western Europe have massively increased during the past couple of years due to the aging population and the age-related illnesses. Consumers are becoming more and more careful about what they put on their skins and the detrimental effects of chemicals. In result, this will lead to a strong interest in finding cosmeceuticals with a balance of natural, organic ingredients and effective functions. 2.1.3 Skin Care Industry in China Table 2 BPC Market by categories in China (2009-2010) BPC market in emerging countries such the BRICs (Brazil, Russia, India and China) has shown enormous growth in the past couple of years. In China, BPC market showed strong resilience of 10% sales growth, reaching RMB 145.5 billion (proximately USD 22.4 billion) under the global recession impact in 2009 and continuously increased in 2010. While the growth rate in sectors such as deodorants, fragrances and mens grooming products were less well performed comparing to 2009, skin care, hair care and premium cosmetics were the most dynamic sectors in 2010 (Table 2 and Fig. 12). Comprising 6% of global BPC market value in 2010, Chinas BPC sales is expected to have a relative resilience to the global recession and reach as much as RMB 206 billion (proximately USD 31.7 billion) by 2014. Crossing the overall Skin Care market in China, interestingly, while 9 out of top 10 skin Care brands in Japan all belong to Japanese local BPC manufacturers, the top 10 brands who share 51.5% of Chinas Skin Care market in 2010 are from 4 foreign countries: Mary Kay (US), Artistry (US), Longligi (China) and Avon (US) are categorized into direct-selling channel; Olay (US), LOrà ©al Paris (France) and Nivea (Germany) belongs to mass market class; and Shiseido (Japan), Lancà ´me (France) and Chcà ©do (China) are classified into premium/luxary sector. There are no pharmacy/dermo-cosmetics brands in top 10 and the best performer Vichy (France) only shares 2.1% followed by La Roche-Posays (France) 0.4% in the market. 2.2 Cosmetics Market Regulation in China While China represents today one of the most important and attractive BPC markets in the world, however, its complex cosmetic regulatory system with rapid amendments make the BPC business full of difficulties. The Ministry of Health (MOH) of China has promulgated the â€Å"Regulations on Cosmetics Hygiene Supervision† on 13 November 1989 and the regulation was effective on 1 January 1990.According to it, a foreign cosmetic company (either a manufacturer or brand owner) with a valid business registration licenseis required to obtain two licenses under the cosmetic regulatory system in China the Hygiene License and the China Inspection Quarantine (CIQ) Labeling Certificate. i. Hygiene License Issued by the State Food and Drugs Administration (SFDA), the Hygiene License is concerning of cosmetic products and ingredients monitoring and supervision. Foreign companies holding Chinese business registration licenses with 3 classified cosmetic products listing below are requested to apply for an Import Hygiene License before their products are allowed to be distributed and placed on the China market (the pre-market approval): â€Å"Special-use cosmetics†, which 8 different sorts of products are included: hair dyeing, hair perm, hair-growth, deodorant, depilation, body shaping (including slimming and breast enlarging), sun cream and spot removing. Non special-use cosmetics† including ordinary BPC products such as skin care, hair, fragrance and manicure/pedicure products that are not belonged to special-use cosmetic category. â€Å"New ingredient†, meaning ingredients that are not listed on the â€Å"Inventory of Existing Cosmetic Ingredients in China (IECIC)†. There are several documents including the product ingredients list, product quality standard, product testing report and packaging are needed for Hygiene License application. A full list of application documents is attached in the appendix 4. ii. The China Inspection Quarantine (CIQ) Labeling Certificate Issued by the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), the CIQ Labeling Certificate is concerning of imported products packaging supervision. A full list of application documents is attached in the appendix 4. Foreign BPC companies are required to a Chinese legal reporting representative throughout the SFDA Hygiene Licenses application process. Moreover, as the official language of China is simplified Chinese, all mandatory information should be in simplified Chinese including the full product ingredients list shown on cosmetic labeling. According to Pisacane (2009), the Managing Partner from Great Way Advisory, after submitting all requested documents to the SFDA, the whole application process will take 4 5 months for â€Å"non special-use cosmetics† and 8 9 months for â€Å"special-use cosmetics† to obtain the final certificate as the SFDA review and evaluate imported cosmetics only 6 times a year. In terms of cosmetics import tariffs, the current import tariff bound rate for imported BPC products is about 10% basically but it depends also on the country of origin and the product category which the import tariffs can reach as much as 150%, plus 17% VAT (value added tax) a nd 5% 30% CT (consume tax). 2.3 Chinese Consumers Behaviour Comprising 34% market share in Chinas BPC market in 2010, the skin care sector is worth USD 9.9 billion, growing at a rate above the GDPand will continue to dominate the BPC industry sales for future couple of years. While more and more people in China move from the lower class into the middle class, they are able and willing to spend more money on personal beauty care products. However, despite the fast rise in personal wealth, the development in Chinese BPC market sales growth which is greatly linked to better richness can be very fluctuating due to the countrys strong consumer saving level. Moreover, in terms of the growth of Chinas BPC sub-categories is rather unequal, for example, sector such as skin care (sales value USD 9.9 billions) is reaching mainstream status in 2010 while others such as fragrances (sales value USD 0.58 billions) and sun care (sales value USD 0.48 billions) remain niche segments. Despite these, there are still obvious areas where Chinese consumers are will ing to spend their money generously such as Premium Baby Care (21% sales growth 2009-10), Premium Skin Care (+19%) or Premium Colour Cosmetics (+15%). Chinese consumer behaviour and their knowledge, attitude, use and response to Skin Care products that reflects in their spending patterns are very much linked with Chinese Culture. Grubow(2008)characterises several beauty trends from the view points of Chinese consumers that intensively influence Skin Care market trends in China: desire for status-improving products, medicinal ingredients welcome, respect for skin care regimes, openness to professional advices and demand for luxury packaging.    Desire for Status-Improving Products Tracking back to ancient Chinese culture, giving a fair, even, pale and fragile quality skin look is quite associated with beauty as it implicated being in a aristocratic social stature. The standard of beauty does not actually change much. Today, Chinese women want a fair, flawless, radiance and translucent skin tone which is considered as wealthy and healthy, meanwhile, browner or darker skin is linked with rural and toiling for money. In result, Chinese women are interested in whitening-orientated products (but bleaching ones which do not give an appearance of evenness and a glow skin tone). Interestingly, a recent survey made by Asia Market Intelligence found that around two-thirds Chinese men also prefer fairer skin and are opened to male skin whiteners. This cultural ideal attracts to every class of people, from the mass to ultra luxury channels, and leading brands such as Olay, Shiseido, Nivea and Avon are offering whitening products not only for facial skin but body in Chinese Skin Care market. Another Chinese beauty trend in terms of status-improving is the skin concentration products which cover for examples facial masks, patches and eyes and chest treatment. Mask treatment is considered luxury as it used to be applied only in a spa treatment which required time and money. This â€Å"DIY approach† with masks containing rich textures or high-tech functions appeals to Chinese consumers and makes them feel unique and luxurious. Again, this pattern taps into the sense of status-enhancing.   Medicinal Ingredients Welcome Traditional Chinese herbal medicine impact strongly on many parts of Chinese day to day life and skin care products are no exception. Chinese consumers believe that some special ingredients provide a better benefit of healing and this is highly linked with the Chinese medicinal practices history. Taking examples of burdock, ginseng and green tea extract which contain antioxidants for skin nourishment; these natural ingredients are popular and famous among both younger and older generations because they are believed to be more inartificial and safer than other ingredients.   Respect for Skin Care Regimes Similar as Japanese skin care rituals that a full Japanese daily ritualistic process contains up to 9 separate steps, Chinese women also respect skin care order. They like to arrange their cosmetics on the dressing table and enjoy the skin care rituals consisting separate steps.While Western Consumers are appealed by products with two-in-one or multiple functions such as Neutrogenas 2-in-1 Cleansing Gel (cleansing and mask), Vichys Puretà © Thermale 3-in-1 One Step Cleanser (cleansing, toning and eye makeup remover) or Olays Total Effects, in China, women purchase Neutrogenas Deep Clean Makeup Remover, Cleanser, Blackhead Eliminating Patch and Soothing Mask or Olays Renewal Lightening Toner, Moisturizer, Lotion and Eye Cream.   Openness to professional advices Though the development of beauty and health care speciality drug stores such as Watsons, Mannings and Sasa in China is far behind the pharmacies in France or Japan or the drug stores in Germany, in principal cities of China, the specialty drug stores has witnessed an enormous sales growth during the past decade. Watsons, for instance, had only 80 outlets back in 2005. But last year, it has opened its 700th outlet in China, making it as the leading beauty and health care speciality drug store in Chinas BPC market.This is not just about the locations or its competitive prices policy that attract lots of consumers; the evidence that each Watsons outlet is equipped with counsellors and pharmacists who provide products advices and recommendations is also one of the key reasons that drive consumers into shops. Consumers in China trust and appreciate the advices of skin care from these shop assistances. It is therefore not difficult to interpret that with this advices-welcoming concept, direct-selling brands such as Mary Kay, Artistry and Avon who always come with sales counsellors and host frequently cosmetics seminars and makeup workshops appeal intensively Chinese consumers attention. (In 2010, 4 out of top 10 Skin care brands are categorized as direct-selling channel.) Demand for Luxury Packaging As consumers from emerging countries tend to search for higher cost-effectiveness products, in China, a cosmeceutical product with a luxury packaging is very much appreciated by Chinese consumers as it gives again the sense of status-enhancing. Packaging like heavy glass container appears more attraction for consumers than a plastic container even if it contains better ingredients or product volume. In addition, Trout (2011)suggests that when developing a new product range at different pricing and customer targeting, the design of packaging helps companies to define a â€Å"new† brand image and extend the attraction to wider potential consumers. 2.4 International Operation Strategy 2.4.1 Operation Strategy Strategy, originally derived from Greek word â€Å"strategos†, was firstly used in the military term and then in the management of business. Drucker(1954)proposed that strategy is â€Å"to analyse the current situation, including the inquiring of companys existing or should-be resources, and if necessary, change the situation.† Strategy was was also suggested by Chandler(1962) that â€Å"determines the base of corporations long-term objectives and taken actions, resources and configuration standards to achieve these targets.† In Andrew(1971)s The Concept of Corporate Strategy book, proposed that strategy is â€Å"the scheme of targets development and major policies and plans for the purpose of achieving specific objectives to describe the companys current and future business.† Glueck(1976)considered strategy â€Å"is a unified, coordinated, broad and integrated plan to reach the basic objectives of the organization†. The definition of strategy was a lso given by Porter (1985), â€Å"strategy is the response to external opportunities and threats, and internal strengths and weaknesses, in order to achieve competitive advantages†. In 1990, Ansoffdefined strategy as â€Å"a set of criteria to lead the organizational behaviour for the decision-making.† Kaplan and Norton(1990) described strategy is â€Å"a set of assumptions of cause and effect†. Porter(1996) again explained that strategy is â€Å"to conduct a selection among activities, enabling the organizational competitiveness while creating the sustainability and differences of the market†. There are various ways and results in strategic planning according to organizational goals and objectives that classify strategic management into different frameworks. Scholars attempt to conclude strategies in practice that are partly summarized underneath. However, there is so far no better or the most appropriate classifications or concepts. It is though agreed that a model which can be applicable to organizations would be capable to recognise and assess their chosen strategy content. Ansoff (1965)s Product-Market Growth Matrix (Table 3). Based on two basic aspects (product and market), a four-product-market portfolio is created that corresponds with corporations marketing strategy: Market penetration strategy is based on the present products portfolio, attempting to increase the market share. Market development strategy is to find and develop a new potential market basing on present products. Product development strategy is to create or bring new products in order to replace companys existing products Diversification strategy is to develop new products for new potential market. Porter (1980) characterized three general types of strategies into a category scheme that can be used to achieve and continue business competitive advantages: cost leadership strategy, differentiation strategy and segmentation strategy (Table 4). David (1986, 1995, 2010), has formed a modern Strategy-Formulation Analytical Framework that assisted strategies generate and evaluate feasible alternatives for the purpose of choosing a specific course of action. Strategies can be recognized, assessed and chosen by this framework which contains three stages including: the input, matching and decision (Table 5). 2.4.2 SWOT Analysis Originally developed by Albert Humphrey in his research project based upon the US Fortune 500 companies during 1960s to 1970s, SWOT analysis is a strategic planning method that specifies the corporate objective and identifies the favourable or unfavourable internal and external factors to accomplish this objective. It defines, analyses and evaluates corporate internal Strengths and Weaknesses and its external Opportunities and Threats that helps the organisation to determine the operational problem and the strategic decision making. A SWOT analysis result matrix was presented by Weihrich(1982) using strategies matching approach to develop relevant future coping strategies (Table 6). The procedures of SWOT analysis are often associated with corporate strategic planning process that can be combined into following steps: Conducting the description of business environment; Identifying and validating all affecting external factors; Predicting and assessing the future changes of external factors; Reviewing the internal strengths and weaknesses; Framing a feasible strategic planning by using SWOT analysis; and Conducting strategic choices and decision making. According to Weihrichs SWOT Analysis Result Matrix (in step five), a result of 22 strategies is hereby described as follows: SO Strategy: in accordance with the Maxi-Maxi principle, to consolidate strengths and improve opportunities. The direction of business development can be for example, (1) focusing on the growth of one single product, technique or market; (2) discovering new market for alternative selling channels; (3) developing new product using organizational resources; or (4) creating a new product life circle for customers to identify with aiming at winning the competitive market. It is the best operational strategy for business development and profits making with a closed coordination of corporate internal resources and external environment. WO Strategy: in accordance with the Mini-Maxi principle, to improve organizational weaknesses and manage opportunities. The result of Mini-Maxi strategic planning can be (1) unrelated diversification; (2) joint venture; (3) strategic alliance; or (4) consortium. ST Strategy: in accordance with the Maxi-Mini principle, to reinforce corporate self-strengths and cope with threats. Examples for strategic decision making can be (1) horizontal integration: integrating business of the same level to reduce competitors; (2) vertical integration: integrating upstream/downstream firms to avoid external threats; or (3) using related diversification improve business synergy.

Comparing Good vs. Evil in Sherlock Holmes and Dracula Essay -- compar

Good vs. Evil in Sherlock Holmes vs. Dracula It is all too often that literary critics read literature and then sift it into good and bad pieces, critiquing its value or mediocrity. However, it needs to be pointed out that this onerous task of "analyzing literature" for literary devices need not be the basis for placing value and worth on literature. Additionally, it is a great misunderstanding in society's education system that students need to learn what makes a good book solely by its use of literary devices. It's about time students read books for recreation and be able to express in their own words why the books are great or not so great. Most importantly, the lessons each book teaches students must be learned individually. People cannot be told what the book is trying to communicate, they must learn it for themselves. This is what makes books noteworthy, and this is why Sherlock Holmes vs. Dracula by Loren D. Estleman is an extraordinary book. It is a book people can enjoy for entertainment motives rather than for its devices of sound, syntax, and omniscient point of view. Through the story of good versus evil, Estleman entertains the readers of The Adventure of the Sanguinary Count (the other title) to make a great novel. In SHVD*, there are two protagonists: Sherlock Holmes, the famous detective residing at 221B Baker StreetÝ; and Dracula, the notorious count of Transylvania. To put aside all presumptions, ostensible facts, and popular stereotypes, it is necessary to examine who represents good and who represents evil. That is quite obvious. Aha! For those who agreed to that last sentence, sham... ...Jacqueline Roehl, "Sometimes a book is just a book." Notes *SHVD is referring to the title of the book in order to save paper space. ÝKudos to those who knew that. Woe and shame to those who didn't, obviously you aren't an English Literature "expert" are you?, or you would have known that. If you do not consider someone who sells his soul to the devil as evil, you really scare me, so do everyone a favor and read something good like the Bible.  §I submit that good and evil cannot co-exist if the interest of one hinders upon the interest of the other. *If your friends say this, it's time to get new friends or check your hearing. Do you say this? †¢This is merely an example. If it makes you feel better, fill in your own example. Nevertheless, you get the point.

Geely Auto Financial Report Analysis

Geely Auto Financial Report Analysis 1. 0 Executive Summary This report discusses the details of the Geely Automobile Company and an analysis of its financial statements in the past 5 years. The purpose of the report is an application of the knowledge learnt from the Financial Statement Analysis course, and tries to give recommendations. Rather than giving simple suggestions like buy, sell or hold the stocks, it is hoped that by analyzing the financial statements, the data can provide support for the recommendations such as the future profit and loss of Geely.As one of the four largest independent private automobile manufacturers in China, Geely Auto has been expanding rapidly. The sale of Geely has increased from 200 units in 1998 to 329. 100 units in 2009. In addition, in 2010, the purchase of Volvo greatly increases the reputation of Geely. Although the acquisition just happened few months ago, it is believed that it will beneficial to increase the market share. Further SWOT analy sis shows that, the well-established sales network and the emphasis on R&D capabilities will have a positive effect on the future growth of Geely.Moreover, the external environment such as the continuous growth in Chinese market and government policy support shows a promising future for Geely. However, there are also threats exist outside the market and weaknesses inside Geely. It is really hard to give any suggestions by simply analyzing the industry and outside environment. Therefore, the report mainly focuses on the analysis of the financial statements. Analysis includes the capital structure and solvency, liquidity, operating performance and profitability, and cash flow statements.By using common-size analysis, ratio analysis and trend analysis, taking the rapid expansion in recent 5 years into consideration. Though some results turn out to be either not satisfactory or below industry average, the overall performance of Geely is quite good. Geely was using its money effectively and investing the money in the right place in the past 5 years. It is recommended to buy Geely Stocks, with the potential growth in their production and profitability. It is quite pessimistic that the earnings of Geely is going to increase and therefore the stock price in future. . 0 Introduction Geely Automobile Holdings is a Chinese automaker and is with BYD, Chery, and Great Wall, one of the four largest independent private automobile manufacturers in China. Geely is now headquartered in Hangzhou, Zhejiang, and operates six car assembly and power-train manufacturing plants in China that are located in Lanzhou (Gansu province), Linhai (Zhejiang province), Luqiao (Zhejiang province), Ningbo (Zhejiang province), Shanghai and Xiangtan (Hunan province). These facilities enable a production capacity of approximately 300,000 cars per year. 2. Brief History Geely (Jili, meaning â€Å"auspicious, lucky†) was founded in 1986 as a manufacturer of refrigerators, and then moved to manu facturing decoration materials in 1989, and by 1992, motorcycle parts. In 1994, Geely began manufacturing motorcycles. By 1996, Geely had produced over 200,000 motorcycles and scooters. Automobile production started in 1998. Geely began exporting its first cars in 2003. Geely had its IPO on the Hong Kong Stock Exchange in 2004. Purchase of Volvo Geely was reported to have approached Ford in mid-2008 about a possible takeover of Volvo Cars.On October 28, 2009, Geely was named as the preferred buyer of Volvo Cars by Ford. On December 23, 2009, Ford confirmed that all substantive commercial terms for the sale to Geely had been settled. A definitive agreement was signed on March 28, 2010 worth $1. 8 billion, and the deal was completed on August 2, 2010. Management * Executive directors: Mr. Li Shu Fu, Mr. Gui Sheng Yue, Mr. Yang Jian, Mr. Ang, Siu Lun, Mr. Yin Da Qing, Mr. Liu Jin Liang, Mr. Zhao Jie, Dr. Zhao Fuquan * Non-Executive Directors:Mr. Xu Gang * Independent Non-executive Dire ctors: Mr.Song Lin, Mr. Lee Cheuk Yin, Mr. Yeung Sau Hung * Senior Management: Mr. Zhang Peng, Mr. Cheung Chung Yan Products * Xiali TJ7300-based * 1998  Ã¢â‚¬â€ HQ/Haoqing/Haoqing SRV * 2000  Ã¢â‚¬â€ MR/Merrie * 2002  Ã¢â‚¬â€ MR/Uliou/MS * 2004  Ã¢â‚¬â€ PU/Rural Nanny/Urban Nanny * 2002  Ã¢â‚¬â€ BL/Beauty Leopard/BO * Daewoo-designed * 2005  Ã¢â‚¬â€ CK/Freedom Cruiser * 2006  Ã¢â‚¬â€ MK/LG/KingKong * 2006  Ã¢â‚¬â€ FC/Vision * 2008  Ã¢â‚¬â€ Geely China Dragon Major activities and achievements * Geely’s JI-6360 model was certified by the government making Geely the first private company qualified to be producing automobiles in China. First Chinese automaker present at the Frankfurt Motor Show in September 2005. * First Chinese car maker to display at the US Detroit auto show. Winning the Special Contribution Grand Prize for Invention and Creation for its Blow-out Monitoring and Brake System (â€Å"BMBS†), a unique safety system independently d eveloped by Geely. * In Peru, Uruguay and Venezuela, Geely has already started to sell its products. Geely has also entered the Bangladeshi, Cuba, New Zealand, Pakistani, Romanian, Turkish and South African car markets. Figure 1; Development in sales, source: Geely annual report 1998-2009 3. Financial Analysis In the following sections Geely’s capital structure, solvency and liquidity, profitability and cash flow will be discussed. 3. 1 Analysis of Capital Structure Geely automobile Holdings Limited Analysis of Capital Structure| HK$'000| 2005| 2006| 2007| 2008| 2009| L-Tdebt| –| –| –| 87000| 1318000| Deferred taxation| –| –| –| 8018| 37727| other L-T liabilities| –| 682838| 309274| 0| 1442153| Total L-T liabilities| –| 682838| 309274| 95018| 2797880| Current liabilities| 54548| 227198| 5273470| 76378| 8907789| Total liabilities| 54548| 910036| 5582744| 171396| 11705669| %| 6%| 46%| 68%| 3%| 62%| | | | | | common shareho lder's equity| 798080| 1030157| 2441440| 4197862| 6375613| minority interests| 9013| 19769| 211760| 584619| 720907| Total equity capital| 798080| 1049926| 2653200| 4782481| 7096520| %| 94%| 54%| 32%| 97%| 38%| | | | | | | Total liabilities and equity| 852628| 1959962| 8235944| 4953877| 18802189| | 100%| 100%| 100%| 100%| 100%| These consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards (â€Å"HKFRSs†) ————————————————-From common-size analysis, we know leverage rate of Geely is stable for year 2006 and 2007, declines sharply for year 2008, and then rebounds strongly to 62% in year 2009. Then look at the absolute value, it's not difficult to find out a great rise in both liability and equity capital. In 2009, the total liability is more than a trilion. Referring to its investment and operation in recent years, we think Geely is trading on the equity, which indicates it is using equity capital as a borrowing base in a desire to reap excess returns.This can be confirmed by its step-by-step acquisition of many assembly line and investment on new factories financed by bond and bank borrowing, which is conversely based on increasing equity (stock price stimulated by expansion). Those investments are revalued and taken into asset as a new backup. 3. 2 Solvency Analysis Geely Automobile Holdings Limited Solvency Ratios| HK$'000| 2005| 2006| 2007| 2008| 2009| D/E ratio| 0. 07 | 0. 88 | 2. 29 | 0. 04 | 1. 84 | Interest coverage ratio| –| 7. 66 | 10. 11 | 16. 06 | 15. 46 | S-T D/E| –| 0. 22 | 2. 16 | 0. 02 | 1. 0 | | The computation for Year 2009 is shown here:| D/E ratio= Total liabilities / Shareholder's equity = 2,797,880 / 6,375,613| Interest coverage ratio= EBIT / Interest Expense = 1,657686 / 107,226| S-T D/E= Long-term liabilities / Shareholder's Equity = 8,907,789 / 6,375,613 | | The computation for EBIT is shown below:| HK$'000| 2005| 2006| 2007| 2008| 2009| Net Profit| 115377| 214149| 318100| 866053| 1319028| Interest expense| –| 32390 | 35103 | 60952 | 107226 | Taxation| –| 1585 | 1673 | 51869 | 231432| EBIT| 115377| 248124| 354876| 978874| 1657686|Since the ratio of debt to equity capital is relatively high, we need to take a further look of its financial condition. Before assessing long-term solvency we want to be satisfied about the near-term fiancial survival of Geely. Unfortunately, Geely's short term debt to equity ratio is 1. 40, quite high in the most recent year. Although it can raise capital from HK listed market, equity is apparently not enough to make up its shortage of capital in short term. According to NOTE, Geely has discounted notes receivable to banks in exchange for cash with recourse in the ordinary course of business.Therefore, the risk resulting from its speeding expansion not only depends on its own performance, bu t its customers' financial distress. Interest coverage ratio is satisfactory, which means payment of the interest liability Geely has incurred on its long-term borrowing is in a less pressure. 3. 2 Analysis of Liquidity Geely Automobile Holdings Limited Analysis of Liquidity| | HK$'000| 2005| 2006| 2007| 2008| 2009| Industry norm| Accounts Receivable Turnover| 1. 91 | 0. 95 | 1. 99 | 1. 51 | 2. 29 | 19. 47| Acid-test ratio| 1. 13 | 0. 68 | 10. 44 | 0. 71 | 1. 19 | | Inventory turnover| 15. 9 | 11. 10 | 8. 36 | 136. 70 | 393. 17 | 31. 79| | | | | | | | The computations are as follows:| | Accounts Receivable Turnover = Net sales / Average accounts receivable| | Acid-test ratio = Cash and equivalents + Marketable securities + Accounts receivable / Current liabilities| | Inventory turnover = Cost of goods sold / Average Inventory| | The selected accouts used in computation are here:| | HK$'000| 2005| 2006| 2007| 2008| 2009| | Sales revenue| 101411| 127006| 137209| 4289037| 14069225| | C OGS| 90649| 110036| 121251| 3637752| 11528489| | Inventory | 5703| 9910| 14498| 26611| 29322| | urrent asset| 67212| 280681| 884331| 5110552| 12219411| | current liability| 54548| 227198| 79559| 5273470| 8907789| | Trade and other receivables| 44840| 59065| 65443| 2840255| 6144929| | Dividend receivable| 8220| 74840| 3560| –| –| | Accounts receivable| 53060| 133905| 69003| 2840255| 6144929| | cash ; cash equivalents| 8449| 20972| 761684| 889408| 4498155| | Marketable security| | | | | | | The accounts receivable turnover is much worse than industry average. However, an increase of accounts receivable may due to rise in sales or difficulty in collecting quite timely.Referring to NOTE, we know that receivables are guaranteed by established banks in the PRC and have maturities of six months or less. So the likelihood of timely collection is in less question. The inventory turnover is exaggeratedly higher than industry level, especially after its installment of P-SCM suppl y chain management system, which integrates ordering, producing, selling, and distributing. So we can conclude that Geely is doing excellence in inventory management and is enjoying a growth in market demand of its products 3. Analysis of Operating Activities To be able to make a comprehensive analysis of Geely’s activities, both the income statement and the balance sheet have been restated in appendix A and B, such that it is possible to identify operating and non-operating income, assets and liabilities. Assumptions regarding classifications are also available in the appendixes. Figure 2: illustration of revenue and operating income, Source Geely annual report 2007 -2009 Figure 2 illustrates how dramatic the development in especially revenue has been the last three years.Net sales are up by almost 200 percent from 2008 to 2009, while only a 60 percent increase in volume is reported in the annual report. Mainly the large growth is a result of full consolidation of the Groups manufacturing Operations. Moreover, the acquisition of â€Å"Drivetrain Systems† at June 30th 2009 generated extra revenue the last half year of 2009. Further the notes reveal that 95 percent of sales are within China in 2010, in 2009 it was only 81 percent. A decline in export can in a future growth perspective be a concern.Geely have improved profit margin over the last three years (18 percent In 2009), while the operating margin have been rather volatile (Appendix 1). This is caused by large income/expences from â€Å"share of results of associated companies†. It is expected that this account will be less important in the future as some associates now are fully consolidated. A large increase in distribution and selling expenses in 2009 (increase more than 200 percent) is worth to note. It raises questions as can Geely manage all the new acquisitions without getting less effective and the level of earnings quality.No extraordinary or unusual are identified in the fi nancial statement. It is a good sign since these accounts often are subject to earnings management. Comprehensive income is nicely increasing and no unusual increase in unrealized gains/losses of currency is identified. 3. 4 Analysis of Return on Common Equity This analysis show that the drivers behind the increasing return to common equity is mainly due to heavy increase in asset turnover and an equal percentage increase in leverage. The adjusted profit margin has unfortunately been declining heavily over the period.Geely is therefore relying on Non-operating activities to reach the growth in ROCE. From a shareholder perspective is an increase in ROCE due to leverage not sustainable. However it must be noticed that it was only last year the increase in leverage was heavy, while the increase in asset turnover has been for longer. From a financial point of view it can be argued that taking up debt while it is cheap, since the interest rate is currently low, is in the long run better for the shareholders, if the alternative was to finance expansion with more expensive equity.What is critical is if Geely is strong enough to turnaround their adjusted profit margin to keep growing healthy. 3. 5 Cash Flow Analysis It is useful to construct a summary of cash inflows and outflows by major categories because we can evaluate a firm's sources and uses of cash from operating, investing and financing activities directly. Geely Automobile Holdings LimitedSummary of cash inflows and outflowsYear ended 31 Dec 200X| HK$'000| 2005| 2006| 2007| 2008| 2009| Total|Operating activities| (7636)| (31858)| (17747)| 550977 | 948805 | 1442541| Investing activities| 5064| (660806)| 247079 | (274542)| (1305946)| (1989151)| Financing activities| 9452| 704988 | 542943 | (148711)| 3966382 | 5075054| Increase( decrease) in cash| 6880| 12324 | 772275 | 127724 | 3609241 | 4528444| Year 2009 cash reinvestment ratio = (operating cashflow-Dividends) / (Gross plant assets+investment+other assets+wo rking capital) = (948,805- 59,500)/[103+(293,697+97,788)+4,185,892+3,311,622) = 11. 27%|The summary of cash flow chart shows that during fiscal year 2005~2007 Geely experienced negative operating cash flow. Besides that it has used cash to finance increase in inventory and receivables, the ‘Share of results of associates' turnaround profits before tax from a positive position to a reverse one as it contributes more than 100% negatively before 2008 to Geely's profit after tax. This may be due to its stage of growth since total capital expenditures by its operating associates amounts to approximately RMB1 billion, which are mainly funded by the operational cash flow generated by associates.The insufficient operating cashflow part is made up by financing activities through issuing debt and securities and borrowing from banks. From fiscal year 2008 Geely was able to begin generate positive operating cashflow . However, positive operating cashflow may due to the decrease in its wor king capital. The cash flow statement shows that payables decreased significantly after 2008, which raises doubt on a possibility that Geely delayed payments to suppliers until its operating cash flow before adjustment of working capital become healthier.The major cash outlay is investing activities, corresponding to its funding for the research and development of new vehicle models, new engines and gearboxes, the construction and expansion of plants. Concerning financing activities, one point should be mentioned here is that Geely borrows with its receivables as collateral, the inflow of cash is reported as a financing activity in the cash flow statement. The second doubt come up when comparing with income statement.Earnings are significantly exceeding operating cashflow, this may be an indication of aggressive accounting choices, such as recognizing revenues too soon or delaying the recognition of expenses. Take a look at the free cash flow statement. From free cash flow to equity (FCFE) we know the cash flow availabel for distribution to common shareholders is sufficient. Along with its satisfactory reinvestment ratio, Geely proves that it is taking care of investors. Geely automobile Holdings LimitedFree cash flow statementYear ended 31 Dec 200X| | HK$'000| 2006| 2007| 2008| 2009|Net income| 214149| 305767| 866053| 1319028| Depreciation| 1403| 2282| 141053| 364598| intereset expense| 32390| 35103| 60952| 107226| net capital expenditure| 99304. 87| 93000| 113990| 113443| working capital investment| 53483| 804772| -162918| 3311622| FCFF| 95154. 13| -554620| 1116986| -1634213| Net borrowing| 716000| 330000| 1061000| 4300000| FCFE| 584837 | 219253 | 1497987 | 5135362 | net capital expenditure = approximate expenditure in RMB* rate of exchange prevailing at the balance sheet date| 4. 0 SWOT analysis of Geely Automobile Strengths 1.Continuously Increasing Revenue Geely’s gross profit margin has continued to grow over the past few years due to successful c ompany expansion and increasing market shares. The total sales for various kinds of Geely vehicles has accumulated to over 800,000 since 2001, and the Geely trademark has been recognized as a well-known mark in China. It has established over 200 sales service bases overseas, and performed SKD/CKD assembly production and sales in Ukraine, Russia and Indonesia and other countries. 2. Emphasis on Research ; Development CapabilitiesBy the end of 2009, Geely owns a total of 1,600 technology patents. Geely has a professional research and development team, the staff number of which exceeds 1,400, representing 12% of the total staff of the Group With its extensive investment in research and development, the group’s R;D team is capable of launching four to five new models every year, reflecting its leading position in R;D and technology innovation capabilities in China’s automobile sector. 3. Acquisition of Volvo and Enhanced Green TechnologyNew energy-powered vehicle is the la test trend and it will be the future of the world’s auto industry. Ford and Volvo have already invested millions of dollars over the past decade in terms of new energy technology. Acquiring Volvo may enhance Geely’s technology in new energy-powered vehicle area, help Geely take a step forward in competing with other homegrown brands, and pave the way for Geely to enter the global auto market. Weaknesses 1. Accounts Receivables Worse than Industry average Geely’s average turnover ratio of accounts receivables from 2005 to 2009 is 1. 3, which is substantially lower than the industry average, 19. 47. Although the previous analysis has shown less possibilities of payment collection problem, a low accounts receivable turnover ratio still indicates that there is an opportunity cost of holding receivables for a longer period of time. 2. Image of Lower-end Brand Although Geely has a well-established sales network and growing competence in core technology, it is hard for Geely to alter its lower-end brand image, since its original target market is low cost vehicle.But branding is about value and perceived quality, so price alone can never facilitate a victory. Enhancing quality and ensuring that its cars are on par with the global leading brands are still a major challenge for Geely. 3. Less Advanced Technology Despite the vast amount of investment in research and development, capital and talents for automobile core technology are limited, and it is hard for Geely to compete with the advanced technology of foreign automobile manufacturers. 4. Unsatisfactory Sales in Export Markets Motor vehicles sales in most parts of the world market remains fragile.As a result, Geely exports business could continue to face major challenges given the fierce competition and the short history of operation in its major export markets. Opportunities 1. Continuous Growth of China Sedan Market China's passenger vehicle market ended last year with a 59 percent year-on-ye ar sales increase to surpass the United States as the world's largest auto market for the first year. According to estimate of Goldman Sachs Global ECS research report, growth in China car market will be remained for the next 10 years and the industry GDP growth will be 11. % in 2010 and 10% in 2011. Goldman Sachs Global ECS research teams forecasts that China will further boost its No. 1 position in the car market with sales reaching 30 million units per year by 2020. 2. Government Policy Support In the past few years, the focus of Chinese government policies for automobile industry is to boost sustainable growth in the economy with auto industry as one of its pillars and to support domestic participants and industry consolidation. Threats 1.Fierce Competition from both Domestic and Foreign Brand The huge profit potential of China car market brings about fierce competition among both local and foreign automobile manufacturers. In the luxury automobile market, foreign manufacturers are in leader position due to their sophisticated technology and high brand recognition. While in lower end automobile market, local brands are strong competitors. 2. Possibility of Overcapacity in China Auto Market Some industrial experts concern that China's market may one day face vercapacity problems. A report from the official news portal of China's eastern Zhejiang province showed that, based on the production plan of China's 12 major auto manufacturers for the next five years, China's auto production would reach 32. 5 million units in 2015, far exceeding the forecast of 22 million units in the blue book of China's automobile industry. If Overcapacity problems occur, serious overproduction capacity will lead to negative market competitiveness a loss in enterprise efficiency, factory stoppages and other problems. . 0 Analyses of management discussion and analyst’s opinion Appendix C summarizes some Analysts view of Geely. However, not all Analysts agree upon whether you should sell, hold or buy the stock. Several reasons are discussed in the respective reports; though all analysts agree that Geely is a healthy company with a stable revenue base, increasing volume and satisfactory margins. What analysts do not agree upon is whether Geely can maintain their growth potential and gain market share in both the domestic and export market.The penetration in the Chinese passenger car market is extremely low compared to USA and Europe (JP Morgan, 2010) and as the Chinese people are getting wealthier the market potential will increase the upcoming years. Loads of Automobile manufacturer will compete to gain market share and earn extraordinary profit. Credit Suisse and CIMB are representing the negative analysts who believe that domestic market competition will increase as the nearest competitors have invested heavily in the industry and developing of new brands (CIMB, 2010).Geely Management has not commented upon this in their report, but instead they emphas ize they have sufficient funds to cover investments and R&D expenses to facilitate their own growth. Additionally, Credit Suisse (2010) emphasize that every auto manufacturer in the Chinese market are currently investing in production facilities. Credit Suisse is therefore worried it will result in an oversupply and consequently make inventories to rice. To bring inventories down a price war on vehicles can arise. This will affect margins negatively.JP Morgan represents a positive analyst that strongly believe that the current acquisition of Volvo will result in synergy effects and a technology platform that no one else can imitate in the near future. Further JP Morgan is confident that the low penetration of vehicles in the domestic market will ensure future growth, and therefore recommends buying the stock. DBS, Deutche Bank and Yuanta are recommending holding the stock, since they believe there are too many uncertainties connected to Geely and the future. Especially they all emph asize the lack of a clear growth catalyst to outperform the market.Further, the acquisition of Volvo seems to have longer prospects before profiting than expected at first hand (CIMP, 2010). As expected Geely’s management discussion is very positive towards the future and leaves the shareholders with the impression of a highly growing company with a healthy economy and a clear defined strategy, although it is noticed that very little space is used to comment upon the current competition in the market. Instead Geely Management has chosen to focus at their new strategic platform and how they can develop brands and product lines into a competitive advantage (Geely, 2010).It can be interpreted as an indirectly method to cope with the market competition without discussing the situation in detail. Shareholders, however, must be aware of this matter when evaluating the business. Even though current revenue is increasing heavily one must consider how sustainable this growth rate is i n the future. It can be concluded that Geely Management are slightly taking a too positive approach towards the current market conditions, since these are not discussed in depth and analysts report emphasize different issues than Geely.This analysis facilitate that there are no universal answer to trading with stocks. We all wants to buy the stocks that are undervalued and sell the ones that are overvalued, and the answer you get depends on the method, forecast and strategic mindset of the analyst. Geely is without doubt a healthy company so the buy, held, sell decision lies within how you value the growth opportunities, how Geely can facilitate R&D and implement acquisitions and thereby benefit from synergies. 6. 0 RecommendationGeely have the recent years had an expansion strategy, and as a consequence a high level of investment. This has resulted in a higher leverage and that earnings significantly are exceeding cash flows. However this is also a natural picture of a company in a n expansion phase. It is found that Geely has satisfactory interest rate coverage even though leverage is increasing. Furthermore, accounts receivables is found worse than industry average, but good bank agreements make it easy for Geely to meet liquidity issues. Inventory turnover is also good, as the focus on SCM systems have proven its worth.This is moreover expressed in the increased asset turnover which partly is the driver behind the increasing ROCE. However it is important to note that the adjusted profit margin is declining. The overall performance shows increased revenue/earnings, but it is very difficult to determine the earnings quality since most of the rise is due to consolidation and acquisitions. The positive free cash flow and satisfactory reinvestment ratio shows that Geely are taking care of investors. SWOT analysis identifies possible business catalyst as R&D and the new acquisition of Volvo that could create synergy effect.It is our opinion that these business dr ivers are rather uncertain but is very likely to succeed and combined with Geelys current healthy financial situation; we are taking a positive approach towards Geely and recommends to buy the stock. 7. 0 Bibliography Geely Automile Holdings Annual report 2005-2009 Investment Reports: DBS (8. June2010) Hong Kong/ China Company Focus; Geely Automobiles Holding; DBS Vickers Securities; Analyst: Miu, Rachel Credit Suisse (12. July 2010) Asian Daily – Geely Auto; Credit Suisse Analysis; Analyst: HungBin Toh CIMB (28. Sep. 010) Geely Automiles Holding LTD; CIMB Reasearch; Analyst: Cheam, The Shen JP Morgan (26. Sep. 2010 ) Geely Automiles Holding LTD – Initiating Coverage, JP Morgan Asia Pacific Equity Research; Analyst: by Li, Frank Deutche Bank (26. Aug. 2010) Geely Automiles Holding LTD; Deutche Securities Asia LTD; Analyst: Ha, Vincent Yuanta (26. Aug. 2010) Geely Automiles Holding LTD; Yuata Research; Analyst: Wong, Johnny Websites: Reuters (http://www. reuters. com/fi nance/stocks/analyst? symbol=0175. HK) Appendix A: Restated income statement Appendix B: Restated Balance SheetAppendix C: Overview of Analysts opinion Source: Reuters (http://www. reuters. com/finance/stocks/analyst? symbol=0175. HK) ——————————————– [ 2 ]. Industry average figure reference: http:// www. stats. gov. cn [ 3 ]. Property, plant and equipment are depreciated on a straight-line basis at the following rates per [ 4 ]. Goldman Sachs, China: Automobiles, May 19, 2010 [ 5 ]. Business Monitor International, BMI China Auto’s Report 2010, November 2009 [ 6 ]. Global Times, China's Expanding Auto Production Triggers Overcapacity Concerns, July 19 2010