Breaking Through The Foul And Ugly Mists Chiasmus In I Henry Iv Essay

Breaking Through The Foul And Ugly Mists: Chiasmus In I Henry Iv Breaking through the foul and ugly mists: Chiasmus in I Henry IV In Shakespeare's historic play King Henry the Fourth, Part One, the ingenious playwright uses an interesting and powerful method of presenting the honorable by introducing that character at the rock bottom of his potential and, as Hal puts it, breaking through the foul and ugly mists/ Of vapors that did seem to strangle him (I.ii, 155-6). Chiasmus, in Shakespeare's plays, is the inversion of two characters' reputation and personality traits. In I Henry IV this technique can be seen in the shifting of the reader's perception of Harry Percy, more vividly known as Hotspur, and Hal, the Prince of Wales. Hotspur and Hal start out on two utterly opposite ends of the spectrum of honor and nobility. As the play progresses, we can witness Hal's transcendence, turning point, and rise to the peak of his potential. We also are shown Hotspur's gradual dive to shame (and ultimately death) as he loses his temperance and patience, and is consumed by confidence and greed. The literary effect of chias mus terminates with, once again, the characters on opposite ends of the spectrum, but somewhere along the shift, they cross paths and the original hierarchy is inverted. At the beginning of the play, Prince Hal starts out on the lower half of the hierarchy. He spends the majority of his time in the tavern, drinking away the money that he earns by robbing travelers during the night. He is introduced to the readers as immature, irresponsible, and ignorant to his destiny and potential. But Shakespeare doesn't let his readers see Hal this way for long: in I.ii, Hal's intention of transcendence to princedom is evident in his revealing soliloquy: Yet herein will I imitate the sun, Who doth permit the base contagious clouds To smother up his beauty from the world, That when he please again to be himself, Being wanted he may be more wondered at By breaking through the foul and ugly mists Of vapors that did seem to strangle him. (150-6) Though Hal seems ignorant of his destiny and importance in the court, Shakespeare allows us to see that he intends to rise to his full potential. From this point on, Hal begins ridiculing his friends, and realizes that they are contagious clouds who smother up his beauty. Harry Percy, a.k.a. Hotspur (Shakespeare never ceases to amuse me with his witty nicknames-- and this one is certainly derived from the Prince of Darkness himself), is introduced to us as the courtier of Golden Mean. He is nearly everything a prince should be: he valiantly captures the prisoners King Henry desires (even though he will not give them over to the king), he is courageous, quick with words, and has a goal of honor. In I.iii, 201-8, he expresses how much importance he places on honor and how simple he thinks it is to obtain it: By heavens, methinks it were an easy leap To pluck bright honor from the pale-faced moon, Or dive into the bottom of the deep, Where fathom line could never touch the ground, And pluck up drowned honor by the locks, So he that doth redeem her thence might wear Without corrival all her dignities; But out upon this half-faced fellowship! But even within this speech one of his faults is uncovered. Towards the end of this tangent he is shaming the practice of sharing glory and honor with others. This reflects his egotistical intentions and his preoccupation with the obtaining the title of honor. In this scene we also learn of Hotspur's other downfalls: his exponential anger, his lack of temperance, stubbornness, and ignorance. He doesn't know his own history, he disregards letters warning him, and he is totally consumed with the idea of victory and honor; he even battles in his sleep. Scene II, act iv reflects Hal's midway point. He has not yet risen to his full potential, but we know he intends to show his father that he is worthy of his title of the Prince of Wales. Hal and Falstaff put on a little play-within-a-play, in which Hal plays the part of his father, King Henry, and Falstaff acts as Prince Hal. King Henry (Hal) reprimands Prince Hal (Falstaff) for passing

Essential Facts About Hurricanes, Typhoons, Cyclones

Essential Facts About Hurricanes, Typhoons, Cyclones During hurricane season, you may hear the terms hurricane, typhoon, and cyclone used often, but what does each mean? While all three of these terms have to do with tropical cyclones, they are not the same thing. Which one you use depends on which part of the world the tropical cyclone is in. Hurricanes Mature tropical cyclones  with winds of 74 mph or more that exist anywhere in the North Atlantic Ocean, Caribbean Sea, Gulf of Mexico, or in the eastern or central North Pacific Ocean east of the International Date Line are called hurricanes.    As long as a hurricane stays within any of the above-mentioned waters, even if it crosses from one basin to a neighboring basin (i.e., from the Atlantic to the Eastern Pacific), it will still be called a hurricane. A notable example of this is Hurricane Flossie (2007).  Hurricane Ioke (2006) is an example of a tropical cyclone that  did  change titles. It strengthened into a hurricane just south of Honolulu, Hawaii. 6 days later, it crossed the International Date Line into the Western Pacific basin, becoming Typhoon Ioke.  Learn more about  why we name hurricanes. The  National Hurricane Center  (NHC) monitors and issues forecasts for hurricanes occurring in these regions. The NHC classifies any hurricane with wind speeds of at least 111 mph as a major hurricane.    Category Name Sustained Winds (1-minute) Category 1 74-95 mph Category 2 96-110 mph Category 3 (major) 111-129 mph Category 4 (major) 130-156 mph Category 5 (major) 157+ mph The NHC Saffir-Simpson Hurricane Scale Typhoons Typhoons are mature tropical cyclones that form in the Northwest Pacific basin - the  western part of the North Pacific Ocean, between 180 °Ã‚  (the International Date Line)  and 100 ° East longitude. The Japan Meteorological Agency (JMA) is in charge of monitoring typhoons and issuing typhoon forecasts. Similarly to the National Hurricane Centers major hurricanes, the JMA classifies strong typhoons with winds of at least 92 mph as severe typhoons, and those with winds of at least 120 mph as super typhoons.   Category Name Sustained Winds (10-minute) Typhoon 73-91 mph Very Strong Typhoon 98-120 mph Violent Typhoon 121+ mph The JMA Typhoon Intensity Scale Cyclones Mature tropical cyclones within the North  Indian Ocean  between 100 ° E and 45 ° E are called cyclones. The Indian Meteorological Department (IMD) monitors cyclones and classifies them according to the below intensity scale: Category Sustained Winds (3-minute) Cyclonic Storm 39-54 mph Severe Cyclonic Storm 55-72 mph Very Severe Cyclonic Storm 73-102 mph Extremely Severe Cyclonic Storm 103-137 mph Super Cyclonic Storm 138+ mph IMD TC Intensity Scale To make matters  more  confusing, we sometimes refer to hurricanes in the Atlantic as cyclones too - thats because, in a broad sense of the word, they are. In weather, any storm that has a closed circular and counterclockwise motion can be called a cyclone. By this definition, hurricanes, mesocyclone thunderstorms, tornadoes, and even extratropical cyclones (weather fronts) are all technically cyclones!

Kaplan and Norton Essay Example | Topics and Well Written Essays - 500 words

Kaplan and Norton - Essay Example Their scorecard requires managers to answer the basic question for accounting: "How do we look at shareholders" The Kaplan and Norton describe the innovation of the balance scorecard as follows: "The balanced scorecard retains traditional financial measures. But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships were not critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation." (Kaplan, Norton, 1996). So, the process of the Balance Scorecard planning helps to identify specific procedure and processes required at different levels of the organization. The organization's strategic, tactical, and operational goals and plans must be consistent and mutually supportive. There are four primary cells in the Balance Scorecard: financial, customer, process, and people/learning. In each cell, company should identify the key drivers that help translate strategic goals to operational accounting issues. Each of those goals would also have a set of metrics. For example, under customer metrics, a company might look at growth rate. (b) Using the balanced scorecard system allows the food retailer industry

Global Priorities and Services to Children Research Paper

Global Priorities and Services to Children - Research Paper Example The rights can be summarized as having a safe, healthy and secure environment for the children and their families. There are laws in place that guard and protect the children from abuse and exploitation that need to be respected by all, regardless of whether it is the government or its citizens. Children whose lives are already in jeopardy need to be mobilized and programs and centres need be initiated and built respectively for their rehabilitation as this will help them regain their objectivity in their lives. World leaders need to embrace crisis negotiation and arbitration culture instead of the use of force that results in warfare in which children and women become the most affected. Losing parents to war at tender ages affect the children psychologically and rehabilitating them becomes a tall order. Children refugees and the victims of war need to be availed of the services and goods that are enjoyed by the other children who have not been affected so that equality persists even in the camps (Davidson, 2010). They need to be supported as so as to help them get their minds out of the trauma of losing close family and friends. Children who undergo traumatic incidences in childhood, tend to be violent and engage in violent crimes even terrorism in a bid to revenge for their loved ones. Governments need to bring their heads together in the fight against violence and terrorism including the trading of weapons illegally as they fall in the hands of wrong people including vulnerable children.

The Service Encounter Diaries Essay Example | Topics and Well Written Essays - 5000 words

The Service Encounter Diaries - Essay Example 7. In order to improve on the restaurant, the manager absolutely must ensure that his/her first impressions team is up to the task of being friendly, cordial, and engaging with clients. Without this, the restaurant is not able to stand out; regardless of how low priced or tasty the food might be. 2: I had performed some online review in order to find the best mobile phone repair service that I could in the local area. After reading several online reviews, I came to have a high expectation of service as most of the customers of the store had written glowing reviews. 3: Upon entering the establishment, I was immediately greeted and asked if I could be helped. What was most interesting to me was that I was not just passed off to someone else once I explained my problem; instead, the person who greeted me was actually one of the repairmen himself and was able to take a look at my phone and quickly give me a cost and time estimate for how long the repairs would be. 4. I was pleasantly surprised by this level of service and decided I would have my phone repaired at this establishment; instead of wasting any more time looking for a lower price elsewhere. As a direct result of the first impression that I had and the level of knowledge that was exhibited to me, my decision to do business with the firm in question was solidified. 7. Although the service was exceptional, the only thing that I might recommend to change was the overall level of technical terms that the service professionals and repair staff would frequently use. Many customers might not understand these terms; as such, toning them down and putting things in more simple terms could definitely help. 3: On entering the store, I did not see any employees; other than the ones that were working the cash registers. This was odd to me as generally an H&M

Impact Of Tourism On Penang Island Tourism Essay

Impact Of Tourism On Penang Island Tourism Essay Introduction The students of International Tourism and Hospitality Management from SEGi University College went on a case study research at Penang Island from the 12th November to the 15th November. In these 3 three days and two nights study, the students managed to interviewed as many as 60 local residents of the state to probe and investigate on the impact of tourism towards Penang Island. Literature Review- Penang Island, A Place for Tourism and Heritage! The main reason why our study trip chose Penang Island is because of the historical sites and heritage places. Penang incorporates modernity with a touch of traditions and old world charm that is sure to captivates the heart of many tourists and travelers alike. With George Town which was recently listed as a UNESCO World Cultural Heritage Site makes visiting Penang an even more eventful trip. Penang also entices the tourists with its rich and plentiful scrumptious cuisines and mouth-watering food. Home to the Baba Nyonya descendants, this beautiful state is also rich with cultures and traditions all living harmoniously under the one same roof! Penang is located at the Northwest coast of Peninsular Malaysia by the Straits of Malacca. It is the second smallest state in Malaysia right after Perlis. The name Penang is actually derived from a tree called Pokok Pinang that is widely found along the sea side of Penang Island. Generally the state of Penang could be sub divided into two geographies; the Penang Island and also the Seberang Perai. Penang which is widely made out of hilly topography has a limited low land area for development hence the land reclamation project near the coastal area. In an average day, the temperature at this place varies from 27 degree Celsius to 30 degree during the day time while the night time promises a temperature from 22 degree Celsius to 24. Since Malaysia is located on the Equator line, this place has a very high humidity and the average annual rainfall is approximately 2670 mm. All in all, the students of ITHM find that Penang Island is indeed filled with abundant of cultures and traditions that many other places in Malaysia is definitely lack off. The culture and heritage sites at these beautiful places are still intact and maintained to perfection. Tourism undeniably has change the way of life for the Penangites vastly. Here I enclosed in the Itinerary of the whole 3D2N study trip of ITHM students. (*Refer to Appendix IV) Methodology Questionnaire- Method of Data Collection During the fieldtrip to Penang on the month of November, the students of ITHM manage to compile a total of 60 pieces of questionnaires per group on the impacts of tourism on Penang Island. Local residents of Penang were informed of the survey and requested to answer 10 simple questions regarding on the issue. The questionnaire consisted of 10 questions divided into three parts: Impacts of tourism on local environment, impact of tourism on local people- socio-cultural, and impact of tourism on local economy. The answers to the questions are in the form of Yes or No and could be ticked in boxes. A total of 60 respondents were found and they agreed wholeheartedly to help us out on the mission to uncover the facts about tourism in Penang. Of the 60 respondents, the highest number of responses agreed that Tourism Penang has indeed brought about positive feedback on the economics of the state. Even though some respondents had difficulty understanding the questions given, but we manage to sort it out by slowly explaining to them on what the questions are all about. The analysis of the response was done in two ways. We divided our group member into two units, where one unit is assigned to complete the (i) 30 pieces of questionnaire by asking local hawker peoples opinion, whereas the remaining (ii) 30 pieces are distributed among the local residents whom are not working at the current moment. Nonetheless all of whom answered the questionnaire were from the local people of Penang Island. Discussion Tourism Development- Infrastructures   Unlike any other states in Malaysia, Penang is labelled as one of the leading destination in the country today and many tourists who visited Malaysia would definitely anticipate the visit to this very heritage site. The main reason why Penang has been where it is today is mainly because it also has a better and more developed infrastructure than most of the other places in the country.    Generally there are two stadiums located at Penang for the convenience of the locals as well as to attract tourists and outsiders to take part in any sports event over here. The City Stadium or more commonly known as Stadium Bandaraya Pulau Pinang is the first and oldest stadium which is still in use up till today. It was built by the British in 1932 and ever since then had become a popular spot for any football matches. The other stadium mentioned is the Penang State Stadium. This newly completed stadium back at the year 2000 has a capacity of 40, 000 spectators.    The next cutting edge design infrastructure built in Penang is none other than the Geodesic Dome located at Komtar.   This progressive and advance looking dome is a multipurpose hall used for official functions, performances, states events and many other event purposes. The design of this dome comes from the concept study by R. Buckminster Fuller who is the master mind behind this partial-spherical structure. The main entrance to this dome is through the level five roof top which only makes it even more appealing to the tourists and visitors.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In terms of highways infrastructure, Penang is certainly quite commendable as well. Highways such as the Bayan Lepas Elevated Highway, Jelutong Expressway and Butterworth Outer Ring Road are the few expressways constructed for the convenience of the automobile users. And let us not forget about the advanced-looking Penang international airport. The Penang International Airport (PEN) is the main airport for the northern region of Peninsular Malaysia. At present, the airlines flying to the Penang International Airport includes AirAsia, Cathay Pacific, China Airlines, Firefly, Jetstar Asia, China Southern Airlines, Kartika Airlines, Lion Air, Malaysia Airlines, Silkair, Singapore Airlines, Sriwijaya Air, Thai Airways and Tiger Airways. This airport is also known as the fourth biggest airport in Malaysia after KLIA, Kota Kinabalu International Airport and Kuching International Airport. It has also been awarded as the Airport of the Year for 20 09 Frost and Sullivan Asia Pacific Aerospace and Defence for airports for the category of below 15-million-passenger. Economic Impact of Tourism The main economic development in Penang would most certainly relies on the tourism sector as it turns out that this sector yield major contribution towards the income and financial growth of the state. Based on the record by the Tourism Ministry, Penang has recorded a 40 per cent increase in the number of international tourist arrivals between January and June this year (2010). There were 405,932 tourists up till June, as compared to 244,146 in the same period last year. Of the tourist arrivals, Indonesians topped the list at over 92,000, followed by Singaporeans (51,392), China (16,000), Australia, Japan, Latin America and India (12,000 each), United States (10,000) and Middle East countries (1,360). The economic benefits of tourism were readily acknowledged by research participants in this study. Nearly everyone interviewed agreed that tourism led to the creation of jobs and it somewhat turns out to be the main source of income for most of the family as well. Residents of the communities commented that tourism often brings about positive feedbacks on the economics of the state and the standard of living too. A resident of the local neighbouring town said that, Without tourism, the economy would be stagnant. Another resident also noted, With the existence of tourism in Penang, we get to enjoy many top notch facilities and infrastructures such as the better public transportation system and the Penang stadium. For some there was a sense of certainty about the likelihood of tourism flourishing in this state. With so many demands from tourists all over the world, regardless of domestic or international, many believed that tourism was expected to take place whether or not local reside nts desired it. The Swettenham Cruise Terminal which was recently redevelopment has added an extra entry point into the island. Based on the statistic from Penang Economics Monthly April 2010 Issue 4.10, it states that in year 2009, a total of 680, 000 cruise passengers are recorded to have arrived in Penang. It has been estimated that this year at least 890, 000 numbers of tourists will turn up. The average cruise passenger spends anywhere between US$85 (rm280) to US$115 (rm350) a day when they come on land. Thats not bad considering they are in Penang for less than 12 hours. Penangs the perfect destination for cruise passengers with limited time, the minute they step off the pier, theyre already in a World Heritage Site, said Battistotti, PGT director, who is also the chairman of the Malaysian Association of Hotels (Penang chapter) and the General Manager of G Hotel. Another factor that contributes to Penangs thriving economic from the tourism sector is no doubt the Tourism Malaysias active courtship of the Middle Eastern market. It has been clear that 11th September incidence is a significant factor influencing the increase of Middle Eastern tourist arrivals to Malaysia. There are however other factors such as tourist expenses in Malaysia, tourist income, travelling expenses and the standard of living in this country that affect vastly on the number of tourists arrivals as well. Based on the work done by Norlida Hanim Mohd Salleh (2010, pp. 37-52), she mention that, The importance of the Middle East tourists to the Malaysian tourism industry can be viewed from several indicators such as number of tourist arrivals, tourism receipts, the average length of stay and potential of future tourism market. She also mentioned that the average spending of the Middle Easterners have a higher purchasing power than other tourists over here. According to the c ase study, the average expenditure of the Middle Easterners was RM3, 503 during the year 2003 whereas tourists from other places only spent RM2, 013. In general, tourism has a variety of economic impact on the Penang Island. All these could be explained using the Multiplier Effects Theory. From the work done by Daniel J. Stynes (1997, pp. 11-14), he mentioned that; The most direct effects occur within the primary tourism sectors lodging, restaurants, transportation, amusements, and retail trade. Through secondary effects, tourism affects most sectors of the economy The study might use a sales multiplier of 2.0 to indicate that each dollar of direct sales generates another dollar in secondary sales in this region. This clearly shows us that tourism the main the effect of this Multiplier theory where with tourism it brings about the development of other industries as well such as restaurants, shopping malls, and theme parks. However there are still numerous negative impacts of tourism for Penang Island. For one, a country that relies on tourism industry alone as their main source of revenue could be risky and dangerous. Economic dependence should always be versatile and all-rounded in order for a state to prosper and flourish. This is because tourism business is very seasonal. During peak season, tourist arrivals will increase tremendously especially during the year end period. Conversely the number of tourist will dropped drastically during off-peak season. And this can post immerse danger to the states wellbeing as it might create a high rate of unemployment. Environment Impacts of Tourism    It is important to understand that although tourism has boosted the economics of Penang vastly but one shall never forget on the value of the environment and natural habitat of the very island. For what we know, land is a very scarce resource in Penang Island. This is mainly due to the fact that Penang is largely made up of hilly topography and most of the low land area has already been accommodated and developed.    Based on the research done by Ngai Weng Chan (1998, pp: 305-318), he also mentioned that the efforts at industrialization and the development of other economic sectors had bring about the improvement of the states urbanization. Unfortunately this had also caused greater pressure on the land usage. As a result, the Government act upon on the land reclamation as a solution but it is still not enough to satisfy the high demand for land in the island. At present, many developers have already resort to the remaining hill land and also the reclamation area on the island for their next huge projects. Example of such project would be the Waterfront City Project (*refer to appendix I), which represents one of the highest proportions of leisure-based services anywhere in South East Asia. Promising as it may seem, this project which is to be built on the 338 acres of reclaimed land along Penangs eastern coastline will majorly impact on the condition and status of the islands wellbeing. To begin with, placing fill in a reclamation area could disturb the water quality of the adjoining sea as well as threatening the flourishing existence of fish stocks and habitats found in coastal seas and connecting lochs and lagoons. Another example of project built without the heed and consideration of the environmental issues would be the Tanjung Bungah suburb which is situated between Georgetown and Batu Ferringhi. This village was built at the hill land areas which could post many dangers to the environment and also on the inhabitants over there. Based on the journal written by Adrian M. Steinberg (2010, pp. 318-340), he mentioned that, There are many environment risk by project at hill site areas in Tanjung Bungah, Batu Ferringhi. Tanjung Bungah used to be a peaceful village only lodged by small groups of families and fishermen. However over the years, many huge corporate chose this very spot to build commercial buildings for tourism purposes. Example of these recreational structures includes the Tanjung Bungah Floating Mosque and also the Penang Water Sport Centres. Hence, the quality of the sea water deteriorates due to the discharge of raw sewage and the resulting pollution makes it a breeding ground for jelly fish. As a result, the sea all along the northern belt is no longer suitable for swimming anymore.   Penang Hill which is another famous tourist destination spot is an example of tourism development at hill land area. Located high above the land, Penang Hill is perfect as a holiday sanctuary due to the breezy and cooler environment. The state Government permitted this development because it brings forth higher monetary and fiscal policy to the states economy. Based on another case study by Ngai Weng Chan (1998, pp. 14-27), he mentioned that, Massive hill development, especially the clearing of vegetation and the cutting of hill slopes will bring about increased and accelerated run-off, increased soil erosion and a high probability of landslips and landslides. In the event of heavy rainfall, such as that which coincided with Tropical Storm Ryan on 18 September 1995, landslips and landslides would occur. In fact, a total of about 60 landslides were reported along roads on Penang Hill and its vicinity after the heavy rainfall during the above storm. This clearly shows that without a proper planning and preparation, many inadvertent events might occur. Paya Terubong used to be a predominantly agriculture area. As the years gone by, it slowly turns into a working-class neighbourhood in the central part of Penang Island. Based on a case study by Ngai Weng Chan (1998, pp. 14-27), he found that there is a total of 60 landslides reported along the roads of Penang Hill after the destructive Tropical Storm Ryan which happened back at 18 September 1995. Landslides not only harm the residents of an area but, in fact, it post tremendous dangers to motorists as well. In addition, it might pollute the river and in long-term run, may results in flood at low land area. The massive expansion project at Paya Terubong is the most apparent example of hill land development at Penang which is rather an impulsive and foolish action. The project which mostly accentuate on housing, infrastructure and a new township is actually one of the main tourist attraction at Penang Island at current. According to the Malaysian Law however, hill land with slopes of more than 20 degrees should be safeguard and conserved in its natural state, generally as a forest reserves. Ngai also stated in his case study that the Paya Terubong hill land development is a major failure of the state island by saying, According to the Consumer Association of Penang (in its April 1996 issue), the Paya Terubong housing project is an invitation to a disaster, possibly comparing the Majestic Heights as similar to the Highland Towers which collapsed in 1993. Soon after this report, the extensive mudflows occurred in early May 1996. Chan (1997) has demonstrated how rapid development on the hill slopes of the Paya Terubong valley in Penang has given rise to landslides, mudflows, sedimentation of rivers and downstream flooding. (*refer to Appendix II) Culture and Heritage Impacts of Tourism Even though the official religion of the country and state is Islam, the residents in Penang are all given the freedom and rights to follow on their personal beliefs. Buddhism is still the main religion over here. As such, the Peranakan or more commonly known as the Baba Nyonyas made 5% out of the 2 million residents of Penang. The Baba Nyonya is actually a descendent of the Chinese immigrants who partially adopt Malay customs with a touch of Chinese as well. This made the Penang Island rich with an abundant of cultures and traditions. For Penang Global Tourisms (PGT) new managing director Ooi Geok Ling, she exclaimed that if she were to describe Penang as a dish, she would go for the Rojak; All the individual fruits and veggies retain their individualism, and the rojak sauce brings everything together. This is what makes Penang so unique, our diversity and our pride in being Penangites. This clearly indicates that Penang has a presence of people from so many ethnicities and religions living together in harmony. All these could be reflected in the many festivities that are being celebrated throughout the year, ranging from the Chinese New Year to the Indian Festival, Thaipusam. Besides, Pesta Pulau Penang which is an annual carnival event makes the city all vibrant and vivacious. Besides that, Penang is also famous with the Dragon Boat Festival. Since 1979, it has been a culture to hold the International Dragon Boat Festival over the Teluk Bahang Dam. Besides attracting international tourists during the period of this event, this amazing festival also strengthens and tightens the bonds between the each and every citizen. Another remarkable festival held yearly over this state would none other be the Chingay Festival. This interesting event which all started back at 1919 to celebrate on the birthday of Kuan Yin, the Goddess of Mercy displays a wonderful act of skill in the form of a procession. (*refer to Appendix III) George Towns entry into the Unesco World Heritage Sites listing is a big recognition of Penangs unique history. This big recognition was declared back at July 2008. George Town which was one if the first British colonies to be established back many years ago is indeed filled with many historical sites. Besides that, Penang is also famous for many other historical sites that some even dated back at centuries ago. All these factors contributed to the rising numbers of tourist arrivals into the state regardless of domestic or non-domestic. Conclusion After all the investigations done on the impact of tourism on Penang Island, we found that tourism has indefinitely brought about many changes to the used-to-be-peaceful island. The most apparent changes would definitely be on the environment of the island. Noted as one of the best and most relaxing destination in Malaysia, Penang was once a very serene and calming place to holiday at. Currently however, many unplanned and unorganized development had cause many environment degradation. In terms of states economic, there is no doubt that tourism plays a major role in sustaining the monetary of the country. Tourism brings positive impact on economy by providing more job employment for the local peoples. With proper action and care from the Government and the residents of the state. Penang will definitely continue to flourish and blossom into a more majestic and magnificent state in Malaysia!

Prozac Causes More Deaths than Any Other Drug Essay -- Expository Caus

Prozac Causes More Deaths than Any Other Drug    Something is wrong with the focus on the "drug war" when 200,000 people die each year from prescription drugs, yet only 20,000 die from illegal drug use. Adverse reactions of prescription drugs are the third leading cause of death in America. In fact, people have a seven times greater chance of dying walking into their doctor's office than they do getting behind the wheel of their car! Every year approximately 200,000 souls die from prescription drug reactions with another 80,000 dying from medical malpractice (The International). Where is the FDA? Why do they continue to allow doctors to prescribe these drugs? How could they let it get to this point? What once was believed to be a panacia for depression has turned into Pandora's box (Tracy). Depression and suicide go hand in hand. In fact, 10 to 15 percent of depressed patients commit suicide (Lieber). This is the foundation of the defense argued by Eli Lilly, maker of Fluoxetine, commonly known as Prozac, and other companies manufacturing similar drugs. Although there are some 200 court cases alleging a link between suicide and Prozac this year, Eli Lilly continues to be cleared of all liability (Prozac and Suicide). One such case was brought up in Honolulu, Hawaii. In 1993, William Forsyth Sr., who was 63 and had been on Prozac for only two weeks, killed his wife, June, and himself. The plaintiffs argued that the side effects of Prozac, which included "nervousness, anxiety, insomnia, inner restlessness, manic behavior, self-mutilation and suicidal thoughts," were responsible for the murder-suicide. However, the Lilly spokesman said that those effects were "based on no scientific information at all." He also cited that the... ...data during trial." Cnn.com. [online], Available: http://www.cnn.com/2000/LAW06/09/prozaclawsuit.ap/ Lieber, Arnold. "dear psyche doc,." Is there a Link between Prozac and Suicide? [online], Available: http: //thriveonline.oxygen.com/medical/experts/psychdoc/psychdoc.11-17-97.html "Prozac and Suicide." Hells Geriatrics. [online], Available: http://www.hellsgeriatrics.com/prozac.htm Reaves, Jessica. "Johnny s new snack: Milk, Cookies and Prozac." Cnn.com. [online], Available: http://www.cnn.com/2000/US/02/23/kiddrugs2_23.a.tm/ Schwarzer, Kathy. Interview December 15, 2000 "The International Coalition for Drug Awareness." ICFDA. [online], Available: http://www.drugawareness.org/ Tracy, Ann. "A Few First Hand Personal Experiences." Personal Experiences Reported to Ann Tracy, Ph.D. [online], Available:http://members.aol.com/atracyphd/exprncs.htm

First Motor Case

Global Perspectives on Accounting Education Volume 5, 2008, 17-25 FIRST MOTORS CORPORATION: A CLASSROOM CASE ON IMPAIRMENTS Tim Krumwiede College of Business Bryant University Smithfield, Rhode Island USA Emily Giannini Graduate Student, College of Business Bryant University Smithfield, Rhode Island USA ABSTRACT This case requires a detailed analysis of impairments of both long-lived assets and goodwill for First Motors Corporation, a fictitious automobile company. By integrating multiple issues into this case, students are presented with some of the complexities and interrelationships that are seen in practice.To properly prepare solutions to this case, students must successfully read, interpret, and apply both accounting standards and concept statements. The use of judgment in choosing a discount rate for present value computations is an important component of this case. In fact, an earnings management issue and resulting conflict between First Motors Management and the companyâ₠¬â„¢s auditor revolves around the discount rate choice. Additionally, the suggested questions provided with the case require that students address components of the conceptual framework in the context of the impairment standards.This case can be used in upper division financial reporting classes at either the undergraduate or graduate level. Key words: Impairment, goodwill, long-lived assets, discount rate BACKGROUND t is currently 2013 and you are a member of the engagement team assigned to audit First Motors Corporation for the year ending 12/31/2012. First Motors Corporation is a car manufacturing company focused on moving from the production of gasoline-based cars to the production of cars I 17 18 Krumwiede and Giannini based on alternative fuel sources.It was one of the first car companies to successfully produce hybrid-based vehicles in the United States. First Motors has successfully maintained car sales and retained valuable employees while creating modern, efficient cars. B y 2008, First Motors was manufacturing two vehicles, both of which are still being manufactured today. One model is a hybrid-powered vehicle that can be customized in style and features for any purchaser around the globe. This model, called the Passaic, is manufactured in Detroit, Michigan, close to the company’s corporate headquarters.First Motors also manufactures a gasoline-powered model, the Mendoza, at its plant in Lorain, Ohio. In 2008, to take advantage of its alternative fuel source expertise, First Motors purchased a large competitor, Macinaw Motors Corporation, which had made significant progress with hydrogen-powered cars. As the United States is moving toward alternative energy sources, hydrogen is increasingly being used as a fuel source to replace gasoline. To achieve such progress, several processes can be used to make hydrogen. According to the National Hydrogen Association (2006), hydrogen can be made from water, biomass, coal, and natural gas.Much of the hyd rogen produced today comes from steam reforming natural gas. Alternatively, an electrolyzer can be used to separate water into its components, oxygen and hydrogen. The hydrogen can then be cooled down to form liquid hydrogen which can be stored at hydrogen fuel stations. Macinaw Motors had experimented with several hydrogen technologies but eventually settled on the use of liquid hydrogen in an internal combustion engine as the most effective way to make substantial progress with hydrogen as an alternative fuel.Due to Macinaw Motors’ valuable research and development program, operating efficiencies, and exceptional reputation, part of the purchase price was allocated to goodwill. The amount recorded as goodwill was $1. 3 billion, or the difference between the $5 billion purchase price (fair value) of Macinaw Motors as a whole and the $3. 7 billion fair value of its identifiable net assets. When First Motors purchased Macinaw Motors, the combined company retained the name Firs t Motors Corporation.Although First Motors and Macinaw Motors merged, the former First Motors is operated as the First Motors Division and the former Macinaw Motors is operated as the Macinaw Motors Division. Each division acts as a component of the enterprise that earns revenues and incurs expenses from engaging in its own business activity. Additionally, each division is reviewed by the enterprise’s chief operating decision maker to assess its performance and each division has its own discrete set of financial information. At the time of the purchase, Macinaw Motors had three manufacturing plants, all of which are still operating today.Each plant is used to produce one car model. Plant 1 is located in Irvine, California, where the hydrogen-powered Mankato is produced. Plant 2 is located in Mishawaka, Indiana, where the hydrogen-powered Sheboygan is produced. Plant 3 is located in Braselton, Georgia, where the gasoline-powered Spokane is produced. When Macinaw Motors was pur chased in 2008, executives at First Motors believed that consumers were still purchasing gasoline-powered vehicles because their purchase price was still less than that of similarly equipped hybrid-based or hydrogen-based vehicles.Management of First Motors plans to convert Plant 3 to manufacture a hydrogen-based vehicle at some point in the future. However, for the next several years, First Motors wants to capitalize on the market for gasolinepowered vehicles and Plant 3 will continue to be used in the production of gasoline-powered cars. In late 2008, management began retooling Plant 3 of the Macinaw Division to create a new, efficient, and highly desirable gasoline-powered model of the Spokane. To retool Plant 3, the First Motors Corporation: A Classroom Case on Impairments 19 ivision incurred substantial equipment costs including the costs of body assembly jigs, welding equipment, conveyors, robots, and a new platform. Management decided to retool the plant and continue with a n ew model Spokane under the assumption that there was going to be a significant increase in oil supply from expected oil reserves in the Arctic National Wildlife Refuge of Alaska (ANWR). It was believed that these oil reserves would help keep the price of gasoline down which, in turn, would continue to stimulate demand for gasoline-powered cars. The retooling process was completed during 2009.THE CASE In 2012, First Motors management was surprised to learn that oil reserve estimates were inaccurate for the ANWR. After debate over this controversial drilling location, legislation was finally passed in 2010 that included approval for ANWR oil drilling. Some citizens of Alaska and other states were angered by the new law and protested the approval of oil drilling. Nevertheless, in 2012, drilling proceeded in one small select and authorized area. Results of the initial drilling revealed that the expected oil reserves in that location were not nearly as large as projected.Due to the ANWR finding and turmoil in the Middle East, there was a spike in gasoline prices during 2012 and the sales of the Spokane model did not meet expectations. Closure of Plant 3 was considered; however, for four reasons, management decided to keep Plant 3 open. First, management believed the spike in gasoline prices was not permanent and that other oil reserves would help to moderate future oil prices. Second, significant expenditures had already been made on the plant, and it would not require large amounts of additional capital in the near future.Third, consumers were still purchasing gasoline-powered vehicles because of the continued price differential between these vehicles and vehicles using alternative energy sources. Finally, because of union contracts, any assembly line workers laid off would be paid wages by the Macinaw Division at 75 percent of straight-time pay. Thus, management determined that it was not the appropriate time to convert Plant 3 to a hydrogen-based plant. Impairme nt Despite these reasons to keep Plant 3 open, its long-lived assets will not generate the net cash flows originally anticipated when the plant was retooled.In fact, as the result of very deep discounting of the Spokane’s retail price during the year, it is possible that the final numbers for 2012 may show negative operating cash flows related to Plant 3. Accordingly, management determined that an impairment test must be performed for the Plant 3 long-lived assets. To determine if the assets are impaired, management compares the future undiscounted cash flows of Plant 3 to the book value of the plant’s long-lived assets. As of 12/31/2012, the net book value of Plant 3’s property, plant, and equipment is $1. 4 billion, before any write-down from impairment is recorded.Additional relevant information is as follows: †¢ †¢ †¢ †¢ The estimated remaining life of the assembly line equipment is 11 years. Yearly anticipated net cash flows for each of the next 11 years is $62,504,377. It is assumed that the land, buildings, and equipment for Plant 3 can be sold for $30 million at the end of this 11-year period. The total estimated undiscounted net cash flows related to Plant 3 over the next 11 years are $717,548,147 (($62,504,377 x 11) + $30,000,000). 20 Krumwiede and Giannini The assembly-line and related equipment are considered the primary assets of Plant 3.In measuring the impairment loss for Plant 3, management considers various valuation methods for this equipment. It is determined that most of the equipment has no alternative use and that a sales value is not readily available. Accordingly, following the guidance of Statement of Financial Accounting Standards (SFAS) No. 157 (FASB, 2006), management determines that the fair value of the Plant 3 long-lived assets is best measured by the present value of its future net cash flows. The company’s management measures the present value of future cash flows using a riskfree discount rate of 3 percent.Because expected net cash flows are not adjusted for inflation, management does not incorporate an inflation factor into the discount rate. Using the 3 percent rate, the present value of the net cash flows is $600 million, resulting in an impairment loss of $800 million (book value of long-lived assets of $1. 4 billion less $600 million fair value as determined by discounted future cash flows). Once the impairment loss is determined, management is not sure how to allocate it and decides to wait for its auditors to assist in the allocation.The property, plant, and equipment of Plant 3 can be divided into four primary categories: land; buildings; robots and related equipment; and all other equipment. In anticipation of the audit, the following information is compiled regarding these Plant 3 assets: TABLE 1 Plant 3: Property, Plant, and Equipment Land Buildings Robots and Related Equipment Other Equipment Total Net Book Value $500,000 20,000,000 140,000,000 1,239,500,000 $1,400,000,000 Fair Value $1,000,000* 20,000,000* Not Available Not Available $21,000,000 Without undue costs, the fair value of the land and buildings are obtained from an outside appraisal. The 2012 Audit In early 2013, you go with your audit team to the First Motors headquarters in Detroit, Michigan for the audit, for the year ending December 31, 2012. Your team gets a quick tour of the factory, and you learn about various changes in the car industry, including the lack of oil reserves in the ANWR. You know that an impairment loss was recorded for the Plant 3 assets, and you are impressed with management’s initiative in measuring, recording, and disclosing the loss.However, you wonder if an impairment loss should have been recorded for the Mendoza, the other gasolinepowered car produced by First Motors. Fortunately, First Motors maintains cash flow and sales information on a plant by plant basis and you quickly learn that during 2012, sales of the Mendoza rem ained strong because of its compact size and excellent gas mileage. After reviewing the documentation supporting the impairment charge, you note that future cash flows are discounted at a risk-free rate of 3 percent and that this rate does not incorporate an First Motors Corporation: A Classroom Case on Impairments 1 inflation factor because the cash flow estimates were not adjusted for inflation. You vaguely recall from a college class that a discount rate should incorporate a risk premium and although you are relatively new to auditing, you know that 3 percent is a rather low discount rate. You approach management questioning this low discount rate and they become very defensive in explaining that 3 percent is the rate for all the Plant 3 assets and that no other rate would be appropriate. Upon inquiry about risk being considered in such a rate, management stubbornly states that the 3 percent rate is fine.When asked for justification, management reasons that they reached this conc lusion due to the fact that a risk premium could not be adequately measured. Additionally, they refer to Statement of Financial Accounting Concepts No. 7 (FASB 2000), which suggests that in such a situation a risk-free rate can be used. In re-evaluating the net cash flows, and after discussions with management, you agree that the cash flows are in fact the single, most-likely amount in a range of possible estimated amounts or the best estimate for the next 11 years (the expected life of the primary assets of Plant 3).However, you believe risk is not factored into these cash flow estimates. You suggest adding a risk premium to the discount rate, to incorporate fully the risk inherent in the cash flows. After consultation with the firm’s valuation experts, you are told that a risk premium is appropriate. Also, based on their experience in the auto industry and review of First Motors and Plant 3, the valuation experts suggest that an appropriate risk premium is 6 percent. From t heir advice, you conclude that 9 percent (3 percent risk-free rate + 6 percent risk premium) is a much more reasonable rate to use in discounting the cash flows.You are very proud of your findings and hope to make a good impression on your audit manager, Mr. Bother. Although you had briefly discussed with him the magnitude of the impairment loss and the discount rate used, he left the calculations and details up to you. When you approach him, however, he appears extremely frustrated and explains that First Motors never even complied with the yearly test for goodwill impairment, as specified in SFAS No. 142 (FASB 2001). You suggest that the goodwill impairment test may be unnecessary because an impairment loss for the plant assets has already been recorded by management.Mr. Bother shakes his head at you, grumbles, and tells you in a very stern manner that impairment of long-lived assets and goodwill often go hand in hand. He explains that upon acquisition of Macinaw Motors, $1. 3 bil lion was recorded as goodwill (the excess of the purchase price over the fair value of the identifiable net assets of Macinaw Motors). Mr. Bother explains to you that the fair value must be re-evaluated and compared to the book value. Furthermore, you heard some members of management grumbling about losing their bonuses if â€Å"these auditors keep coming up with more impairment charges. You realize management has significant bonuses tied to the 2012 target profits, and a large impairment loss will cause them to lose the expected bonuses. A quick review shows that the largest total impairment losses that can be recorded before the target profit will be missed and the management bonuses lost is $1. 75 billion. Your calculation is based on two facts: (a) 2012 unaudited net income before impairment charges is $2. 25 billion and (b) the management bonus arrangement states that bonuses will only be paid if 2012 net income exceeds $. 5 billion.You go home that evening and realize that yo u do not really understand what Mr. Bother said to you about goodwill impairment. For one thing, you do not know if Mr. Bother was referring to the fair value and book value of the entire company or just the Macinaw Division. You print out the firm’s training material on impairments and spend the rest of the evening reading about SFAS No. 142. 22 Krumwiede and Giannini The next day, you attend a meeting with management and Mr. Bother. During the meeting, you are first excited when you hear management indicate that they made an error in the recorded impairment charge for long-lived assets.You think that management finally realizes the necessity of incorporating a risk factor into the discount rate. However, your jubilation is quickly deflated when management indicates that the impairment testing for long-lived assets should have been done at a different level. In particular, management states that impairment testing of long-lived assets should have been for the company as a wh ole (Plant 1, Plant 2, and Plant 3 of the Macinaw Division, plus the two plants from the First Motors Division) and that the result is the impairment charge should not have been recorded.Management claims this result would hold because the decline in the value of the Plant 3 long-lived assets could be offset by the increase in the value of the longlived assets at the other plants. It is further explained that the individual who made the error is no longer with the company. Mr. Bother explains to management that the issue will be examined more closely. Before any further explanation can be provided, members of management are called away for another meeting.As you leave the meeting you realize that you do not know whether management is correct about combining long-lived assets for all plants of First Motors to perform the impairment test. Furthermore, you wonder if impairment testing is done for both plant assets and goodwill, if it can be a combined test, and if it needs to be done i n a specific order. After reviewing your notes and the company records, you also begin to wonder if a mistake was made in the original calculation of the impairment loss related to long-lived assets.In particular, for purposes of the present value calculations, you note that the land and buildings are assumed to be sold at the end of 11 years. However, you recall from discussions with management that manufacturing plants are used for many years and are retooled over and over. Accordingly, it does not seem appropriate to assume the sale of the land and buildings after 11 years. After all, according to the accounting records, the buildings have a remaining useful life of 25 years and the land has an unlimited useful life. A couple of days earlier, the valuation method for any possible goodwill impairment testing was discussed.It was determined that no fair value was readily available for First Motors or its divisions. Additionally, because the stock price of First Motors was so volati le over the past year, the market capitalization was not a good indicator of the fair value of First Motors. You, Mr. Bother, and management came to an agreement that discounted future cash flows was the appropriate valuation technique to use. However, the calculations provided by management incorporated a riskfree discount rate of 3 percent. You took the initiative to do your own calculations based on an 8 percent discount rate, which includes a 5 percent risk premium.The 5 percent risk premium was recommended by the same valuation experts from the firm who recommended a 6 percent risk premium for use in the Plant 3 long-lived asset impairment. Management calculations and your calculations are summarized below in Tables 2 and 3. The information in the first portion of Table 2 represents the total fair value of First Motors and its divisions based on discount rates of 3 percent and 8 percent, respectively. Presented in the second portion of Table 2 is the estimated fair value of ide ntifiable net assets based on discount rates of 3 percent and 8 percent, respectively.Finally, presented in Table 3 is a summary of the book value of identifiable net assets and the book value of net assets before recording any impairment for long-lived assets (the difference represents the book value of goodwill). First Motors Corporation: A Classroom Case on Impairments TABLE 2 Fair Value Information 3% Discount Rate Total Fair Value: First Motors Division Macinaw Division Total (First Motors) Fair Value of Identifiable Net Assets: First Motors Division Macinaw Division Total (First Motors) $2,600,000,000 3,200,000,000* $5,800,000,000 8% Discount Rate $2,045,000,000 2,550,000,000* $4,595,000,000 23 2,500,000,000 2,800,000,000 $5,300,000,000 $2,010,000,000 2,200,000,000 $4,210,000,000 * Please note that the total fair value for the Macinaw Division includes the combined net assets of Plants 1, 2, and 3. TABLE 3 Book Value First Motors Division Macinaw Division Total (First Motors) Identifiable Net Assets $2,000,000,000 3,000,000,000 $5,000,000,000 Goodwill $0 1,300,000,000 $1,300,000,000 Net Assets $2,000,000,000 4,300,000,000 $6,300,000,000 QUESTIONS (Assume that currently enacted GAAP is still applicable in the year 2012) Part 1 Please provide detailed explanations in answering each of the following questions.For questions 2a, 3a, 4a and 5, provide a citation to the appropriate accounting standard that supports your discussion. 1. Diagram the organizational structure of First Motors Corporation. 2. a. Under what circumstances is a company required to perform impairment testing for long-lived assets? b. Was impairment testing of long-lived assets required for First Motors? Why or why not? 3. a. At what level is impairment testing done for long-lived assets? b.Are the executives of First Motors correct in suggesting that the impairment of longlived assets at Plant 3 is not needed because the decline in the value of the Plant 3 assets can be offset by the incr ease in the fair value of long-lived assets at other plants? 4. a. At what level is impairment testing done for goodwill? 24 b. 5. Krumwiede and Giannini For First Motors, at what level should this testing be done (i. e. , should it be done for the company as a whole or just for the Macinaw Division)? If impairment testing of both goodwill and long-lived assets is required, in what order is it done?Part 2 Please provide detailed explanations in answering each of the following questions. Provide citations to the standards for each of the following: questions 6a, 7a, 8a, and 10a. Additionally, it is suggested that you provide citations to SFAC Number 2 (FASB 1980) when answering questions 10b, 11, and 12. 6. a. Prepare a schedule showing the computation of the long-lived asset impairment loss at both the 3 percent discount rate and the 9 percent discount rate. In the information provided in the case, it was assumed that the land and buildings for Plant 3 were sold at the end of 11 yea rs.Be sure to consider and discuss if the land and buildings’ â€Å"assumed sale† after 11 years is appropriate or if the â€Å"assumed sale† should be at the end of the buildings’ useful life. b. Do you think that management is correct in using the 3 percent rate, or are the auditors correct in suggesting the 9 percent rate, or can either interest rate be justified? Provide a detailed answer to this question including a discussion about a risk premium. Be sure to consider the type of cash flow information provided by management. 7. a. Once an impairment of long-lived assets is determined, how is the write-down allocated among multiple assets?Prepare a schedule showing this allocation for Plant 3 (use the impairment loss determined based on the discount rate you chose in question 6b). b. Refer to your answer for part a. After the allocation is completed, will each longlived asset (or asset category) that First Motors wrote down be stated at fair value? Wh y or why not? c. How will the impairment loss and the corresponding reduction of book value to the long-lived assets affect future depreciation expense to be recorded, (potential) future impairment charges and/or future gains or losses on the sale of the long-lived assets? 8. . Determine the implied goodwill value and the goodwill impairment loss, if any, using both a 3 percent and an 8 percent discount rate. Which rate should be used and why? b. The valuation experts suggested that the risk premium (6 percent) in discounting the free cash flows from Plant 3, for purposes of the long-lived asset impairment, should exceed the risk premium (5 percent) in discounting the cash flows for the Macinaw Division. Why is this difference in a risk premium justified? 9. a. Will management still receive bonuses if the 3 percent discount rate is used in the calculations?If the 9 percent and 8 percent discount rates are used? b. What is earnings management? c. Discuss the relationship between earn ings management and the choice of discount rate to be used in discounting future cash flows for the long-lived asset impairment of Plant 3 and the goodwill impairment of the Macinaw Division. First Motors Corporation: A Classroom Case on Impairments 10. 25 11. 12. Once written down because of impairment, can long-lived asset write-downs or goodwill write-downs be recovered if predictions change (i. e. , the fair value subsequently increases)?Is there such a thing as a write-up for either long-lived assets or goodwill? a. Regarding reliability of financial information, comment on the verifiability and representational faithfulness characteristics of the conceptual framework as they relate to accounting for impairments. Be sure to incorporate First Motors into your discussion. b. Discuss the trade-off between the relevance and reliability of reporting long-lived assets and goodwill at fair value. How does the principle of conservatism apply to this trade-off? Consider the case of Firs t Motors in your discussion.Find a real-world company that has taken an impairment charge (either for goodwill or longlived assets) and discuss how the relevant information was disclosed in the notes to the financial statements and the affect the charge had on net income or net loss of the company. TEACHING NOTES Teaching notes are available from the editor. Send a request from the â€Å"For Contributors† page of the journal website, http://gpae. bryant. edu. REFERENCES Financial Accounting Standards Board. 1980. Qualitative Characteristics of Accounting Information. Concepts Statement No. . (Norwalk, CT: FASB). _______, 2000, Using Cash Flow Information and Present Value in Accounting Measurements, Concepts Statement No. 7. (Norwalk, CT: FASB). _______, 2001. Goodwill and Other Intangible Assets. Statement of Financial Accounting Standards No. 142. (Norwalk, CT: FASB). _______, 2006. Fair Value Measurements. Statement of Financial Accounting Standards No. 157. (Norwalk, CT: FASB). The National Hydrogen Association. Frequently Asked Questions. Retrieved July 12, 2006, from http://www. hydrogenassociation. org/general/faqs. asp.

Customer Service at the Roccoco New York Hotel Essays

Customer Service at the Roccoco New York Hotel Essays Customer Service at the Roccoco New York Hotel Essay Customer Service at the Roccoco New York Hotel Essay Introduction This case involves a dissatisfied customer of The Roccoco New York Hotel who received the service failure when she stayed in the hotel. The case demonstrates that there were four main areas where the hotel failed to meet the expectations and satisfaction of the customer and that includes internal managerial quality and the failure to manage the service failure after complaints were received. Overall The Roccoco New York Hotel failed in following fields: Failure of Internal managerial quality * The hotel was failed to meet the consumer expectations since it provided the wrong bed and room to the consumer. King bed non smoking/ Two beds smoking smell) * The hotel did not do well on the time control in terms of the delivery of luggage meals. * The hotel was failed on staff training for late check in for consumers. The failure to manage the service failure * Delayed for the meal delivery, but did nothing on the compensations. * The service attitude was not appropriate after receiving complaints. Possible solutions Solution 1 Retraining staff The staffs need more training on crisis management and servicing consumers. The staff should be patient, and have the listening skill to response the complaints in the right way. Moreover, time management is also an essential issue to the hotel. The hotel should make a regulation of the SOP (Standard Operation Process) to improve the time of delivery luggage. Solution 2- Interactional justice The Roccoco New York Hotel needs to develop more interactional relationship between the staff and the consumer to avoid discontent that occurred from offering the wrong type of room. The staff should explain the reason of failure and delivery the right room key personally to the consumer rather than asking the consumer came to the front desk. Also, they need to explain the reason of wrong room and luggage delivery delay to the consumer rather than just passing it. Solution 3- Outcome justice This option aims to provide compensations to the consumer when the service failures occur. For example, upgrade the room to the consumer since they offered the wrong room at the initial time and delivery luggage late. In addition, free charge or discounts for meal because of its delay. Evaluations The option 1, retaining staffs which is not only focusing on the training of responding consumers appropriately, but also cultivating staffs have high Emotional Quotient to handle the complains. It could be predicted that consumers are able to receive benefits and professional services through retaining staffs. It is definitely could improve the service quality, however, it seems that it is benefit for further consumers instead of for the current consumer who had a complaint to The Roccoco New York Hotel. Although this option is able to decrease the number of complaints in the future, it does nothing to the current consumer who had complaints already. Therefore, it is unlikely the best option to the hotel on resolving complaints. The second option, interactional justice, is better than the option 1 on handling complaints. Interactional justice could result in a successful service completion. By explaining the reasons of service failure to the consumers, consumer might understand and then decrease the degree of discontent. However, not all of the consumers could understand the service failure if just explaining the reasons, they might consider that the factors of failure should not occur and continue discontent. Thus, this option seems not perfectly suitable for handling complaints for each consumer. The third option, outcome justice, might decrease the degree of discontent from consumers somehow. This is because the failure of service has occurred, except explain the reasons of failure to the consumer, it is impossible to make time going back. Thus, only thing that the hotel could do is trying to decrease degree of discontent from the consumer by offering compensations. In this case, upgrade the room and offer discounts even free charge for meal would be lucrative ideas to resolving the complaints. The main reason of complaint is that the consumer did not receive the service outcomes she paid for. It would be helpful to decrease her discontent by offering the extra values to her. Therefore, this option is better than the option 1 and option 2 Recommendation The recent research had found that offering internal explanation together with compensations would decrease the number of complaints to the higher managers effectively (Lovelock Patterson Wirtz 2011). Therefore, the option 3 would be recommend to The Roccoco New York Hotel since it is able to improve the degree of discontent from the consumer efficiently. Reference list Lovelock Patterson Wirtz 2011, Service marketing, Pearson, Australia.

Effective Manager in the Global Context

Effective Manager in the Global Context Introduction The world has witnessed radical changes in information and communication technology. As of now, through teleconferencing, individuals from different countries are able to hold a conference from the comfort of their homes or offices without having to travel. Changes in the transport industry has also made is possible for individuals access every part of the globe very fast.Advertising We will write a custom report sample on Effective Manager in the Global Context specifically for you for only $16.05 $11/page Learn More Fast jets have made it possible that one can manage to visit all continents of the world within one day. All this changes translate into a different approach to management. Unlike in the traditional setting where geographical constraints limited management scope, the modern manager requires skills to be able to respond to global concerns. In this report, I intend to examine competencies and skills of an effective manager in the glo bal context. Through the analysis in this report, I will evaluate my management skills, in order to determine whether I am an effective manager or not. Moreover, based on the analysis of my management skills, I formulate an action plan that I am to implement towards becoming a more competent and effective manager in the global context Time Management Most of the managers, who have excelled in their duties, are efficient time managers (Dalziel Schoonover, 1988). Organizations operating across the globe can only succeed if managers pay close attention to time management. This requires taking into account time zone differences and being able to plan so that there are no inconveniences in operation. Efficient time management means that one is able to allocate time properly both in their professional life and in their personal life. I used to be a victim of poor time management. I was generally a last minute person, which could make my work strenuous and poorly executed. However, over t ime and through lessons from this module, I have been able to realize the power of excellent time allocation. Currently, am able to work stress free due to planning. Consequently, I am able to execute tasks well in my work place. Time management is an important component in personal organization. Personal organization dictates the manner one assigns oneself to tasks (Dalziel Schoonover, 1988). Proper personal organization is not possible without scheduling or time budgeting. However, personal organization goes beyond time management; it encompasses even dressing and how one plans own work desk or home.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Proper personal organization skills help one to accomplish tasks in a systematic manner, and in a timely way. I have always taken personal organization seriously because through it I am able to deal with activities and schedules prop erly. From experience, I know that time management skills are important towards good emotional as well as physical health and stability at work. In all the places that I have worked, I have excelled because of excellent time management. I manage to balance my social life with work life due to proper time management. Through the management module, I am now armed with more scientific ways that I can apply towards enhancing my time management skills. I realize that proper time management helps busy employees to create enough time to address to other personal needs e.g. social and emotional needs. Even though I am excellent at time budgeting, I realized that I would plan but fail in following through with the plans. From the module, I have learned that it is important to have a diary that allows me to plan and stick to the plan made. Moreover, in case I do not meet my diary specifications, I am able to strategize on how to make up for lost time. Critically, I have learnt to differentiat e plans in terms of short-term plan, middle-term plans, and long-term plans. By so doing, I am able to avoid mixing issues and prioritizing. This aspect is very significant because it has enabled me to have a daily time management strategy that does not jeopardize my long term or midterm needs. Project Management In this module, I have managed to learn more on the management functions, which are vital to the field of project management. As Witzel (2003, pp.96-101), discusses, project management is a very dynamic undertaking. There are many project management tools that I have been able to learn from this course. For example, I have leant how to apply Gantt charts, mind maps, as well as knowledge development to ensure project success. Project management is taken seriously globally due to increased demand for managers to respond to competition and other market trends (Meredith Mantel, 2010).Advertising We will write a custom report sample on Effective Manager in the Global Co ntext specifically for you for only $16.05 $11/page Learn More Apart from the tools used in project management, the module has helped to appreciate the dynamics of managing an international project. In day-to-day operations of an organization, managers often rely on ad-hoc information to make tactical decisions on matters that require immediate response. In a global context, this means managers have to institute proper feedback mechanisms and invest in information technology. Information technology tools would help a project manager of a widespread project to remain in touch with project assistants. This is pivotal, as there are often urgent decisions that have to be made. Stress Management Another critical skill I have learnt during the model is how to go about stress management. I realize that many people labor with effects of stress and yet as Lazarus and Folkman (1984) point out, stress is something that one can control. From the module, I have learnt that stre ss comes because of many factors. The common causes of stress include problems in personal relationships, financial difficulties among others. Stress can emerge due to insecurity in one’s jobs, problems in controlling staff, or other issues to do with family or work roles. Learning on how to manage stress is mandatory for every effective manager because normal day to day work experiences translate into forms of stress (Bower Segerstrom, 2004, pp.9-11). As illustrated in the module classes, planning is central to the management of stress. Therefore, to avoid stress, I ensure that I plan and handle my assignments in good time. Further, I have come to understand different ways of coping with others especially when working in groups. Sometimes, working in groups may lead to delays in the accomplishment of the required assignments. In dealing with others, I have learnt ways of detecting signs of stress and thus I am able to act upon them fast before they turn me into a stressed i ndividual. Interpersonal Skills Management in a global context often means working with people from different nations. A cultural difference across nations means that different people approach business and even social interactions very differently. Therefore, managers in a global context have the challenge of being able to transform cultural diversity into a strength rather than a weakness; cause of conflicts in the organization.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Effective management is about weaving together a dream team or being part of a dream team than helps an organization to achieve its objectives (Dixon, 2004). Interpersonal skills are poignant in ensuring a good working relationship with others. I belief I have very excellent interpersonal skills that I have demonstrated through my various encounters with people at organizational level. In my daily encounters, I find it easy to communicate freely in groups. I am also capable of establishing rapport quickly with people, which always puts me at an advantaged position in as far as working with others is concerned. However, this module has endowed me with deeper insights into the realm of interpersonal skills, by making me realize that I can as well use my interpersonal skills to enable other group members who are introverts to express themselves and share their own opinions before any group. Furthermore, I have learned about the various barriers to effective interpersonal relationships, and ways to overcome those barriers. Another aspect that normally puts individuals at loggerhead with others is not knowing how to ask questions in groups (Dixon, 2004). This is because at times some questions can send out negative signals, hence barring effective interpersonal relationships. I have realized that what I need to improve on is my listening skills so that I can be able to learn from other people. Conclusion Managing in a global context requires one to have dynamic skills due to the challenges resulting from global diversity. It is imperative for a manager in the global context to have sharp interpersonal, project management, time management and stress management skills. As presented in this report, it is clear that I have learnt a lot from the management module. From the module, I have come to appreciate the complexity of a global managing context. However, I am encouraged because I have also learnt a number of techniques that will help me become a competent and effec tive manager in the global context. In line with the course content, I have been able to reflect on my strengths and weaknesses. Based on such an analysis, I have come up with an action plan, which will enable me to improve and increase my competence. Action Plan I appreciate that I can be an effective manager but there are areas in which improvements are necessary. The following action plan looks at what steps I am going to take to ensure the journey of growth continues. To better appraise my strengths and weakness, below is a SWOT model of the same. Strengths I plan my time I have learnt different project management tools I have capacity to identify stressors I am an extrovert and always engages others Opportunities I have learnt how to use diary and other tools in time management I have learnt about many project management tools e.g. Gantt charts I have learnt about stressors and organizational stress management programs Opportunity to learn more about others Weakness I do not follow through on plans Lack experiences in using project management tools Lack experience developing stress management programs for big organizations I tend not to listen to other in interpersonal interactions Threats Cultural animosity in the world Ever changing project management tools minimizing my competence Numerous stressors in global context People who do not appreciate value of interpersonal relations; hardliners in the global arena Growth Objectives Based on the SWOT model presented above, the following are my growth objectives To work on time management skills To improve my listening skills thus improve my interpersonal skills To practice with project management skills so as to become competent in their use To learn more about how stress management programs are organized in multinational corporation Short Term Actions Interpersonal skills are elementary for any effecting manager. I believe that I am an extrovert and thus I tend to dominate others whene ver in groups. To start with, when it comes to performance management there is the temptation to manage people’s performance from a personal perspective. This means that they regard their own competencies and skills as perfect. However, owing to the class module, I have learnt that it is critical to open up to others’ ways of doing things as long as they stick to the organizational objectives. Consequently, I will work tirelessly towards being someone who appreciates other people’s point of view. I will begin this through, on a daily basis, trying to empathize and understand others in the context of their competencies. Rather than manage performance by harassing others based on their capability, I have to learn how to motivate them and encourage optimism so they may bring their best to the fore. This I kind of disposition I plan to build by practicing the same consciously until I internalize the same. Reflecting on my capability to manage stress, I also have eno ugh that I ought to look into. I am happy that I have learnt a lot about how to identify stressors and manage stress at a personal level. However, I need to learn more in terms of how to design and institute stress management mechanisms in organizations that are operating internationally. All managers have to learn not only how to effectively deal with stress at a personal level but also in an organization. On a daily basis, I plan to come up with a personal program of managing stress. If the program works for me, then I could easily transform the same into an organization wide stress management program. However, I am well aware that people are different. Away from stress management, my action plan is not complete without considering how I am going to improve my project management skills. In the module, I learnt more about how to handle projects. However, effective use of given tools comes with experience. I have to start practicing how to employ tools like balanced scorecard and ot her qualitative tools necessary in management. Using readily available scenarios, I plan to continue applying the tools with the aim of internalizing the same. While the other activities require daily efforts, on the use of the tools, I plan to exercise using them at least once every week. Long Term Action I need to grow interpersonal skills especially in appreciating how cultural diversity may become a barrier to effective management. In the globalizing management setting, managers have to interact with people of different nationality and cultural backgrounds. Therefore, I have to continually learn about other people and their way of life. By so doing, I will be able to know how to approach and interact comfortably with them. I plan to start reading more about how people from other cultures do business and how they respond or interact. When it comes to time management, my long-term plan is augment long-term planning in my time management schemes. Through strategic planning, I am ab le to take a panoramic approach to operations thus guaranteeing that nothing of value is excluded from my priorities. In relation to stress management, my long-term plan, as an effective manager, I will keep learning more about stressors and what kind of programs can help in eradicating the given stressors. I plan to take time to identify case studies on stress management towards better understanding of how the same is handled in other companies. Finally, in relation to project management skills, my long-term plan is to enroll into institutions o learning at a later stage to augment my knowledge and skills in the use of different skills. References Bower, J. E, Segerstrom, S. C., 2004. Stress Management, Finding Benefit, and Immune Function: Positive Mechanisms for Intervention Effects on Physiology. Journal of Psychosomatic Research, vol. 56, no. 1, pp 9–11. Dalziel, M., Schoonover, S. C., 1988. Changing Ways: a Practical Tool for Implementing Change within Organizations. Amacom: New York Dixon, R., 2004. The Management Task. 3rd edn. Butterworth-Heinemann publications: London Lazarus, R. S., Folkman, S., 1984. Stress, Appraisal and Coping. Springer: New York Meredith, J. R., Mantel, S., 2010. Project Management: a Managerial Approach. 7th edn. John Wiley and sons: New York Witzel, M., 2003. Fifty Key Figures in Management‎. Routledge: New York

Liver Cirrhosis Research Paper Example | Topics and Well Written Essays - 2000 words

Liver Cirrhosis - Research Paper Example The Liver Weighing about 1.4 kg, i.e. about 3 lb in adults, the liver is the heaviest organ of the human body. It is also the second largest organ, skin being the first. It is located below the rib cage at the right hand side of the body. To be precise, it occupies part of the epigastric regions in the abdomino-pelvic cavity and part of the hypochondriac region (Tortora and Derrickson, 2008, p. 945). A healthy liver is an extremely important asset for an individual’s health and well-being. As Chopra (2001) writes, the liver is â€Å"akin to a master conductor who is orchestrating a number of essential functions†, working as a â€Å"central manufacturing factory†, a processing plant for toxic waste and even as a warehouse, all at the same time (p. 4). Anatomy of the Liver The liver has two irregularly sized lobes – the larger right lobe, and the smaller left lobe. The two lobes are separated by a fold of mesentery, forming the smooth falciform ligament (Tortora and Derrickson, 2008, p. 945). The right lobe is five to six times bigger than the left lobe. The liver has a smooth texture and is a vascular organ rich in blood vessels that impart it a reddish brown color. It has an intricate and interconnected network of liver cells called hepatocytes, along with large amounts of ducts and veins (Chopra, 2001, p. 4).... 4). Anatomy of the Liver The liver has two irregularly sized lobes – the larger right lobe, and the smaller left lobe. The two lobes are separated by a fold of mesentery, forming the smooth falciform ligament (Tortora and Derrickson, 2008, p. 945). The right lobe is five to six times bigger than the left lobe. The liver has a smooth texture and is a vascular organ rich in blood vessels that impart it a reddish brown color. It has an intricate and interconnected network of liver cells called hepatocytes, along with large amounts of ducts and veins (Chopra, 2001, p. 4). The hepatocytes, which are the principal liver cells, constitute almost 70% of the entire mass of the liver and are derived from the embryonic endoderm (Zorn, 2008, para. 3). Although some anatomists believe that the right lobe has an inferior quadrate lobe and a posterior caudate lobe, studies based on internal morphology and the distribution of blood vessels reveal that these two lobes more appropriately belong to the left lobe (Tortora and Derrickson, 2008, p. 945). The smooth falciform ligament that divides the two lobes of the liver extends from below the diaphragm, thereby helping the liver to stay suspended in the abdominal cavity. A round ligament, called the ligamentum teres, which is a remnant of the fetal umbilical vein, is present in the free border of the falciform ligament and extends from the liver to the umbilicus. A pear-shaped sac called the gall bladder is located in a depression that is present on the posterior surface of the liver. It hangs from the anterior-inferior margin of the liver and measures 7-10 cm. An analysis of liver histology reveals that it consists of bile canaliculi and hepatic sinusoids, apart from hepatocytes. The hepatocytes (liver cells) are

Safe and Quality Healthcare Services Essay Example | Topics and Well Written Essays - 1500 words

Safe and Quality Healthcare Services - Essay Example So as we see, FMEA is a precautionary process, which helps prevent problems and help deal with them in an effective and organized manner, if they were to occur. This analytical method has been used since several decades in the production and engineering industry and has proved to be an excellent tool in identifying and reducing hazards. It examines each individual component of a particular system to determine a number of ways in which each component could fail and, not only this, but the effect of a particular failure on the stability of the entire system. (Spath, 2003) One of the major concerns in the healthcare industry is safety. The assurance that a patient is in reliable hands and that the treatment being done or service being offered is safe up to quality standards. For patient safety and wellbeing, healthcare service providers must adopt a set of rules or standards to abide by. The Joint Commission on Accreditation of Healthcare Organizations (JCAHO) assumed responsibility for the certification of hospitals in 1951, back then, the standards continued to uphold a safe environment. Because of increasing public concern with the problem of medical errors and patient injuries, JCAHO reinforced its commitment to patient safety. Commencing in 1996, JCAHO introduced a number of new standards that are intended to maintain continuous improvement in the safety of the services provided to the public. (Spath, 2003) In addition to adopting well defined processes used in healthcare services and assuring that the personnel performing the processes are competent, there is a need for more safety and precautionary measures. The solution to this lies in other industries. This is when JCAHO executives considered standard changes to adopt a more a proactive approach to risk reduction, they researched many other techniques to improve safety used in other high-risk industries to find one that would be adaptable to health care services as well. (Spath, 2003) The process So, basically FMEA is a proactive approach and it consumes little time and resources when compared to the return on investments. The National Center for Patient Safety website developed by the Veterans Affair, devised a set of steps applying the traditional FMEA to healthcare. The process is as follows: 1. Choose a process to study. JCAHO requires the