Disney Company

External EnvironmentThe Disney Company is renowned throughout the world as a leading media and entertainment company in the world. The external environment for this company is vast and has several effects on the company’s operations and performance and progress. The environment includes competitors such as News Corporation and AOL Time Warner Inc, resources, technology, and the economic circumstances that influence the organization.With media and entertainment companies experiencing a boom with a wider consumer and viewer base it is not easy to compete in the industry. Disney analyzes its general as well as its task environment thoroughly to fish for opportunities and threats. In the following text, we will identify two direct and two indirect forces have the potential to affect the company progress.Direct ForcesDirect forces or forces from the task environment include all those forces that are closer to the organization. They conduct day-to-day transactions with the company a nd have a major influence on the company’s performance and basic operations. The forces which come under this category include customers, competitors, suppliers and the labor market. We would be analyzing customers and competitors.CustomersThe Disney customers are highly important for Disney. The bargaining power of customers is also high. The customers decide what price they are willing to pay for a movie, what price they are willing to pay at the entrance of Disney’s theme parks and lastly but most importantly the unique customer experience they desire. Therefore customers, as recipients of Disney’s services, determine the company’s success and future growth.If Disney slacks any one of these three crucial touch points it would lose its market share to other rivals. Mottos for Disney, thus, revolve around the customers like one which reads â€Å"Be so nice to the guests so that they can’t believe it†. Disney looks for chances to create magi cal moments for its customers and always making them smile. Customers are what make up Disney and if it wasn’t for these customers Disney wouldn’t have been where it is now.CompetitorsDisney faces a range of competitors both at a local and international level. Since the Disney Company has been able to tap a very distinctive niche in the industry and has a stronghold, the barriers to entry do exist for the animated entertainment industry. Despite these barriers competition also exists. Disney has been able to establish a mark in the movie business and the Network-television department where several powerful rivals do exist making it extremely risky.Moreover, new cartoon figures appear every day in television shows and in movie theaters overseas. The recent merger of AOL and Time Warner poses a great threat to Disney. Moreover, Viacom and Fox Entertainment are other big competitors. In order to safeguard its position as the leading media conglomerate, Disney must continu ously invest in technological and operational improvements.Indirect ForcesIndirect forces or forces from the general environment are forces that affect the organization indirectly. It embodies the outer layer of the organizational environment. These forces aren’t involved with the organizations day-to-day activities but do affect the organization’s progress and performance overtime. These indirect forces include several dimensions like technological, international, socio-cultural, economic and legal-political but we will focus on technological and international dimensions.  Technological DimensionThe Disney Company provides entertainment through animation and animation and technology have a very strong link. Superior animation is supported through superior technology therefore it is imperative for Disney to be up-to-date with technology. With scientific and technological advancements occurring at an astounding pace it is often hard for companies to keep up but it is crucial for them to do so. Newer competitors are using the latest world technology and providing customers with better experiences, Disney should do the same in order to maintain its position.International DimensionEvents occurring in other foreign countries also have a strong potential to affect Disney’s progress. Since Disney operates theme parks in France, Japan, Hong Kong and USA and furthermore operates its own cruise line as well, events and relations with other countries are of great importance. This international environment also provides new competitors, customers and suppliers and also forms social, technological and economic trends which Disney has to adapt to.ConclusionDisney is the world’s leading entertainment company but does face many challenges and threats within its environment in terms of direct and indirect forces which have the potential to affect its operations, performance and future growth. It is imperative for Disney to analyze these forces car efully and flex its operations and strategies in accordance to them. References Book Jones, G. R. (2007). Contemporary Management. 5th Edition, illustrated, revised. Mc Graw-Hill Companies Wood, J. C (2002). Henri Fayol: Critical evaluations in business and management. Illustrated edition. Taylor & Francis Online Journal/Article Fine, J (2008). Disney Emerges a Winner. Business Week, Retrieved June 10, 2009.

Rock and Roll Music

Rock and Roll has influenced the music industry more then any other genre. Barriers were broken by rock musicians pushing the limits of social behavior. The sixties were the time when changes in history took place. Artists continue to make an impact on people without even trying. Dancers, singers, musicians and athletes want to practice their talents without being bothered. Critics are always watching ready to voice their opinions. This is opposition is what calls publicity to the artists.â€Å"The Beatles were the greatest and most influential of the rock era, and introduced more innovations in popular music then any other rock band† (Authors of Billboard. com 1992-2005). Had it not been for the Beatles, there would be no Madonna, Britney Spears, Fergie, Beyonce or PussyCat Dolls. Elements of the Beatles Song â€Å"She Loves You. † In the sixties, the Beatles were the main pop group. By today’s standards, the Beatles music would hardly be considered real loud or wild. The Beatles were a group of friends who sang for recreational purposes.When they were discovered, they had no formal training. They did not care about auditions. They had no voice lessons. Without all of the technical aspects, their songs still had all of the elements that musicians today spend hours and days perfecting and refining. In the song â€Å"She Loves You,† the four band members are playing basic simple guitars. The instrument largely determines the overall aspects of any song. The highest musical technology is a waste if the artists do not know how to shape the song.Shaping is accenting the high points and low points of the song. Every artist’s has a unique way of shaping music his or her music. The dynamics is defined as the loudness and softness of a song (DuckWorth, 2004, P 358). In the song â€Å"She Loves You,† the dynamics do not have very significant level changes, according to today’s music analysis. Shaping makes up the melody o f the song. People like or dislike music based on the melody. The rhythm of the song sounds like it was in 4/4 time. It has repeated series of strong and weak beats.During the chorus, â€Å"She Loves Me† starts on the high notes or the strong beats of the song. When the musicians sing â€Å"yeah yeah yeah, that is when the weaker beats or phrases are accented. All of the Beatles songs sound improvised without much find tuning. When the song is recorded professionally, there are no significant changes from the time the artists were creating the song. The pitches, highs, mediums and lows of the song, is repeated through the entire length of the song. Conclusion;Rock and Roll has made waves since the sixties. Many people associate the songs that were popular at the time with world events. Music is a big influence on society. I love Rock and Roll music because it is uplifting and upbeat. Rock and Roll music is often played at celebrations, festivals, and concerts. Favorite Rock and Roll songs mark pleasant memories that are easily forgotten. People dance, run, workout, rollerblade to Rock and Roll music. Rock and Roll music has always accompanied close friends parties, and meetings.The Beatles music video can be viewed at http://video. google. com/videoplay? docid=2276715791126043108. Other sites that have plenty links to the Beatles music video links in full screen is AOL music. com. AOL provides hundreds of Beatles videos, interviews, documentary’s. Notes; DuckWorth, W. (2004 ) A Creative Approach to Music Fundamentals 8th Edition. Glossary Yudkin, J. (2004) Discover Music P 316-22. Authors of Billboard. com (1992-2005) Beatles Biography http://video. google. com/videoplay? docid=2276715791126043108

Hawthorne Studies Essay

Employees can be considered as an organization most valuable asset. Their development by the organizational administrative possibly is a definition for personnel management. The needs for concern about individuals in an organization had been long time overdue. The Hawthorne studies were a step forward. Such studies was about relations approach through a series of research methods, for instance illuminations and relay assembly test room experiments, interviewing problem and bank wiring observation. This essay will discuss to which extent Personnel management is a legacy of the Hawthorne Studies. An economic motivation such as incentives was irrelevant in the process of increasing productivity. From the study one can derived that workers’ achievement was solely based on the group decisions. They decided what the right amount of the day was. There are other influential factors that account for the increase of productivity. One can speculate that the workers had their own agenda, given that the impose conditions on them was inefficient. The continuity in the increase of productions could still be observed regardless of the situations. Group interactions through both formal and informal group existed throughout every organizations. The study implies that informal groups existed alongside formal groups. Such groupings develop their own rules and behavior as well as mechanizations to implement it. The employees were more receptive to their group firmness than to the control and inducements of the executives. The will of individuals to belong to an informal cluster with folks of identical attitude and background is much desirable. One can speculate that workers often sympathize with one another consequently they might have a change in their attitude due to group demands. The Hawthorne effect is significant when discussing the legacy of Hawthorne studies. This resulted in the workers to modify investigational aspects of their behavior. A simple reason is that they knew they were being observed. One can imply that the workers bound to display exemplary behavior that is anticipated from them. In view of the fact that they will never know if there will be serious penalty to follow due to result obtained. As one will adapt to the environmental norms and also follow it. Biasness in the interpretations of data is to be questioned. The investigator’s own principles might have influences the constructions of justifications. No more than the management perspective was deliberated. How individuals maximize output were the focal point of the studies, nevertheless the lines of reasoning were in support of the management (servants of power) as describe by Baritz(1965). This in turn gave room for the sensitive employees to be manipulated by judicious managers. Managers often governed by logistics of cost and efficiency as a result they created conditions for workers to produce more. Other believable explanations was omitted, thus errors from the results was imminent. Rose remarked† the Hawthorne studies, upon which so much human relations theory depended, were too incompetently executed to demonstrated very much at all† (Rose 1978 P.171). One can give credit to Rose as the sampling of workers was selective instead of a random sampling method. Furthermore troublesome personnel were replaced; this was because the researchers wanted to maintain the friendly atmosphere within the chosen group. The isolation of the group was an additional mistake. All of these features did not simulate the actual working environment. The experiment employment surrounding was a faà §ade. This resulted in the naivety on the researcher’s behalf, whereby unexpectedly they guided workers to produce an expected conclusion. To conclude one will argue that the Hawthorne Studies was a legacy of personnel management. It is due to the studies that individuals in organizations were taken seriously. Group regulation is one of the aspects that influence individuals’ decisions to maximize or minimize output. Economic motivation is not that indispensible. On the other hand one cannot perceive the studies as a legacy in personnel management for the reason that the Hawthorne effect was mostly influential. Inevitable biasness from researchers’ judgment as they were from a affluent background and traditionally they support the management as George Homans (1962, p.4) a Hawthorne studies researcher remarked As a Republican Bostonian who had not rejected his comparative wealthy family, I felt during the thirties that I was under attack, above all from the Marxists. Lastly the condition under which the studies were undertaken was not up to standards, but according to the naivety of the researchers.

Cinema in Egypt Term Paper Example | Topics and Well Written Essays - 750 words

Cinema in Egypt - Term Paper Example First, it is important to consider major milestones in the development of the Egyptian cinematography. It is noteworthy that the first â€Å"purpose-built cinema house† was built in Egypt in 1907 (Gamal 2). It suggests that Egyptians were interested in the new form of art and the industry could easily pave its way. Initially, foreign films were shown. The first national film was produced in 1917 (Danielson 87). However, those were first attempts, though they were quite successful. The industry started developing rapidly in 1925 when Tal’at Harb, a successful banker, started his own film company. Importantly, the banker employed only nationals and he even sent the most promising ones to Europe for the necessary training (Danielson 87). Unshudat al-Fu’ad / Song from the Heart (1932) was one of the first Egyptian sound films (Shafik 45). This musical film was very successful and it inspired many Egyptian filmmakers. Another musical, al-Warda al-Badha / The White Rose produced in 1933, was also the first Egyptian movie â€Å"to be successfully exported to other Arab countries† (Shafik 45). Muhammad Karim, Ahmad Badrakhan, Fatima Rushdi were among those directors who shaped the Egyptian cinematography and created or rather identified its most significant conventions. The middle of the 20th century is regarded as the golden age of the Egyptian cinematography. Numerous brilliant films were created at that period. It is necessary to note that major themes and genres remained the same. Those were often musical films and comedies that promulgated universal values. They will be considered in detail below. However, during the 1970-1980s, the industry was declining and the number of films produced decreased significantly (Russell 344). Their quality was often very low. At present, the Egyptian industry is on its rise and numerous talented filmmakers manage to produce highly successful national films. As has been mentioned above,

Caring for Hickman line Essay Example | Topics and Well Written Essays - 2750 words

Caring for Hickman line - Essay Example This case study shall assess the organization and assess the professional & service users' needs. This theme of caring for the Hickman Line was arrived at by the growing statistics of the exposure of the Lines to germs. As a result, of careless storage of Hickman lines with no proper care, a lot of infections have recorded an escalating trend. A greater percentage of patients have been seen to visit health centers for replacement of the Hickman lines; others require removal of the same. According to Souhami and Moxham proper insertion of the Hickman Line is a concern of the learners in the clinical setting. Nurses, the learners in this context, are no exception to the needs analysis on the placement of the Hickman line. Billet argues that, in the clinical setting, nurses must be actively involved in learning in the clinical setting. All health practitioners must ensure that they are conversant with all the procedures that are required of them in the clinical setting. Conducting succe ssful insertion of the Hickman line is an indication of a well trained physician. Alternatively, provision of appropriate procedure to the patient is a requirement of the nurse in clinical practice. The nurse must be very alert while conducting the procedure of inserting the Hickman line. Direct observation is not the only vital action that needs to be taken by nurses. He continues to argue in the clinical setting, the nurse must have self-possessed assessment skills that are extremely important in this case study. Despite the fact that, acquisition of these skills may pose a major challenge in the clinical setting, patient care must be jeopardized by the fact that nurses need time to adjust to the new practice (Gopee, 2010). In relation to this case study, nurses must ensure that they are conversant with the Hickman line insertion procedure, that commences with neck X-rays. Nurses must also be keen on administering pain killers before insertion of the Line. Needs analysis, in this context, is responsible for ensuring that nurses conduct their roles as expected, so as, the patients have an uncomplicated and calm operation. Caley (2006) argues that, health improvement must be the sole purpose for the provision of health care to individuals. Teaching plan objectives In relation to part 1, the teaching plan will be based on Nursing as the Subject area. The theme of the teaching plan will be successful completion of the Hickman Line placement. In regard to the teaching plan goals, the tutor must ensure that the learners’ -nurses-scope of ability to grasp key elements of placement of the Hickman line. The tutors must also emphasize on the need to assemble all the skills learnt throughout the course are applied in the clinical setting. Teaching plan must also ensure that the health practitioners are in a position to convert all the theoretical skills to practical during insertion of

Classic Galactosemia disease Essay Example | Topics and Well Written Essays - 750 words - 1

Classic Galactosemia disease - Essay Example The total or nearly total deficiency of the GALT enzyme threatens life, and if not treated, a patient may develop complications such as sepsis, liver failure, mental retardation, or even death. Several mutations that cause this disease are common in people with G/G genotype of the classic galactosemia (Williams & Wilkins 563). The real name of this gene is galactokinase 1. The GALKI gene gives instructions for making galctokinase 1 enzyme. This enzyme is responsible for enabling the body to process galactose, a simple sugar present in almost all dairy products and numerous baby formulas (Leonard 101). Over 20 mutations in the GALKI gene are present in patients with galactosemia. Most of the mutations alter the amino acids in galctokinase or delete some genetic material from the GALKI gene leading to an unsteady or inactive form of this enzyme. Classic galactosemia is a genetic disorder resulting from mutations in the GALT gene. Persons must inherit two harmful copies of this gene, at least one from each parent. Whereas over 170 mutations that cause diseases have been identified to cause classical galactosemia of the genotype GG, only a few have been commonly reported. They include: This mutation accounts to approximately 54 to 70% of the alleles in the classic galactosemia. S135L is the pathogenic mutation that is most reported in African Americans, making about 50% of the distorted alleles of the total population. In Eastern Europe, K285N mutation is accounts for only 8% of the classic galacttosemia in the general population in Europe (Leonard 102). The D mutation is reportedly present in the United States with only 5% of the whole population. Enzyme activity is almost 50%of usual DD homozygote and is adequate such that these people do not have biochemical or clinical characteristics of glactosemia. Duarte galactosemia or sometimes called DG compound heterozygote express noticeably limited enzyme activity of close to 25%

Air Pollution in London Essay Example | Topics and Well Written Essays - 1000 words

Air Pollution in London - Essay Example Concentrations ofsix pollutants reduced between 2007 and 2008. Between 1998 and 2008 concentrations of eight pollutants have reduced. The substances that cause air pollution are called pollutants. If they are pumped into our atmosphere and directly pollute the air are called primary pollutants. Carbon monoxide from car exhausts, sulphur dioxide from the combustion of coal is example for primary pollutants. If primary pollutants in the atmosphere undergo chemical reaction, and further cause pollution, they are secondary pollutants. Photochemical smog is an example for secondary pollutant. Air pollutants mainly occur as a result of gaseous discharges from industry and motor vehicles. There are also natural sources such as wind-blown dust and smoke from fires. With increasing urbanisation and industrialisation, more pollution has been added to the air by industrial, commercial and domestic sources. When these concentrated gases like Co, Co2, So2, No2, Ozone, and Pm10 exceed safe limits, we have a pollution problem. Air pollution, particularly in cities, is not a new problem. Back in the middle ages the use of coal in cities such as London was beginning to escalate. In UK the industrial revolution during the 18th and 19th centuries was based on the use of coal. Urban air pollution levels often reached very high levels due to the burning of coal in industries, as well as in homes for domestic heat. During foggy conditions, pollution levels escalated and urban smogs (smoke and fog) were formed. These often brought cities to a halt while disrupting traffic, and may also cause deaths. Effects of air pollution on buildings and vegetation also became obvious. Effects Inhaling So2 in excess amount would lead to cough, tightening of chest, and irritation of lungs. NO2 results in irritation and inflammation of lungs. PM10 may cause inflammation of lungs, linkage of long term exposure to coronary heart disease and lung cancer. Intake of carbon monoxide in excess amount would leads to prevention of normal transport of oxygen by blood, resulting in the reduction of oxygen supply to the heart. Ozone causes pain on deep breathing, cough, irritation and inflammation of lungs. Benzene and 1, 3-butadiene leads to cancer. Lead is responsible for linkage of exposure to impaired mental function and neurological damage in children. In the great 'smog disaster' in London in 1952, nearly 4,000 people died in a few days due to the high concentrations of pollution. Air pollution in London is decreasing Year Moderate High Year Moderate High Year Moderate High 2000 218 7 2003 480 32 2006 396 26 2001 275 24 2004 225 3 2007 200 12 2002 175 7 2005 230 5 2008 130 6 1. Days of moderate-high, and very high air pollution at selected urban sites across London during 2000-2008 (Source: Defra). 2. Relative annual mean concentrations of SO2, PM10, Nox and NO2 monitored at several sites across London. (Source: London Air Quality Network, King's college London). According to the data, there has been a downward trend in the annual mean concentration of SO2. Since 2000 it had fallen significantly. By the spring of 2009 it had fallen by 80% since November 1996. Annual mean concentration of PM10 has decreased by nearly 26 % between November 1996 and late 2008. The concentration of NO2 has fallen since 2000, and now appears to

The Permitted Age Of Alcohol Consumption In The United States Essay

The Permitted Age Of Alcohol Consumption In The United States - Essay Example So, the law barely served its purpose of barring underage (below 21-year-old) drinking. Moreover, students like me, arriving from countries with lower drinking age are affected by this law. I want to propose that the age should be lowered, and this paper will apply three core principles in that course. It will use ethos to appeal to ethics, by my credibility as a Chinese who began drinking at age 18 according to the Chinese Law. It will also apply pathos to appeal to the emotion of the audience. In this approach, the paper will convince the audience why the alcohol age should be lowered down to 18 years-old, and not any further below that age. Moreover, the use of logos will ensure the proposal appeals to the audience through logic, persuading them by reason in a situation experienced by former US President Bushs daughter. The legal drinking age should be lowered to 18-year-old, but augmented with stricter policies.  Dwight B. Heath, a professor at the Brown University was asked ab out the what the minimum legal age of drinking should be in the US – â€Å"8, or maybe even 6,† was his response (Griggs). According to Heath, a professor of anthropology, he was not advocating for children to get drunk. Conversely, his response was favoring a cultural model upheld by common countries such as Italy or France, where after family meals, children were served with small wine amounts. By so doing, children are educated about alcohol, eliminating the numerous taboo about alcohol that makes teenagers sneak out to drink away from the supervision of an adult (Griggs). Though I do not support the drinking age he proposes – because alcohol could put children at risk of depression, memory loss, or brain damage (Martin), I endorse the lowering the age of drinking from 21 years-old to 18-year-old. Alcohol for kids would also put them at risk of accidents, impaired judgment, distorted vision, coordination, and hearing.  

Reduce, Reuse, and Recycle in Indonesian School at a Glance Essay Example for Free

Reduce, Reuse, and Recycle in Indonesian School at a Glance Essay CHAPTER 1 INTRODUCTION A. Abstract We are astronauts—all of us. We ride a spaceship called Earth on its endless journey around the sun. This ship of ours is blessed with life-support systems so ingenious that they are self-renewing, so massive that they can supply the needs of billions. Unfortunately for centuries we have taken them for granted, considering their capacity limitless. At last we have begun to monitor the systems, and the findings are deeply disturbing. Scientists and government officials of entire world countries agree that we are in trouble. Unless we stop abusing our vital life-support systems, they will fail. We must maintain them, or pay the penalty. The penalty is death. Air, water, and land—those are the systems. On land, nature moves full circle. Living things are nourished there, grow old and die, then decompose to enrich the land again. A thin envelope of air surrounds the planet. We use its oxygen, exhaling carbon dioxide, which vegetation absorbs. Plants use the carbon for growth by the marvelous process called photosynthesis, and return oxygen to the atmosphere. Thus natures delicate balance is maintained. Most states today are ill equipped to monitor the thousands of air-pollution sources within their borders and because corrective measures can be tremendously expensive, years may pass before a factory stops spouting black smoke. Virtually every scientist we listened to—and they numbered in the dozens—emphasized that mankind must control population growth. They forecast widespread famine if population soars unchecked. Plagues, too—for in the metropolitan sprawl of the future there will no longer be sparsely settled buffer zones around cities to curb epidemics. What are the priorities? Most ecologists answered something like this: clean up the most threatened areas first. Work to unsnarl the fragmented, overlapping responsibility on national, state, and local levels. Focus research on finding environmental answers—there is so much yet to be learned. Be realistic about immediate goals. At least for now, settle for making a river clean enough to serve its particular purpose. Later, it can be made to be clean enough to drink. Get practical, enforceable pollution laws passed—standardized ones that will apply to both sides of a river, for instance, when it flows between two states. Before using a new chemical, explore for side effects, and when a new product is developed, plan for its ultimate disposal. Work toward recycling; one factorys industrial waste can be another plans raw material, and make each individual aware of the problems—same like his role in solving them. This is the main problem among us who are living over this earth, how to control the production flow of goods and reutilize it well after it has been out of its usefulness period, how we could be innovative and creative in making the best use of our own belongings, unravel our industry wastes by processing it well, recycling it to be more useful good, and the most important that is inuring ourselves with reverting process to the natural resources and lifestyles. B. SMA Negeri 1 Purworejo’s Project From the abstraction given above, we can deduce that the conservation on natural ecology and surroundings is very eminent to keep the environment’s balance safe. It is all above that influences SMA Negeri 1 Purworejo to try developing high-ranking eco-school environment. The school management party has deemed for the better school worthy-life by arranging a pledge educative projects thru finalizing annual plan of eco-school improvement which is based on green living principles. From the middle of 2004, SMA Negeri 1 Purworejo has formulated some strategic programs that are able to give lots of advantages for the school’s citizens’ lives. CHAPTER 2 POINT OF VIEW A. General Decisive Idea of 3R 1. Reduce Reduce is a behavior or an action of the costumers that is able to alleviate the production of wastes, such as the usage of biodegradable bag as the substitute of non-biodegradable plastic bag and maximizing the best use of moor-land. 2. Reuse Reuse is utilizing the waste directly and advancing it without any recycling process. The reuse process can be efficiently applied well not only on the organic wastes recycling only, but also on the nonorganic wastes. The application of reusing process, for example: a. The residual waste of food producing can be advantaged as the food for animal. b. The former tires can be used again and processed to be other unique utensils and various shape of furniture. c. The residual product of furniture constructing process is able to be benefitted as useful handicrafts, such as little bag, sandals, tissue-pot, etc. 3. Recycle Recycle is processing and reusing materials that would otherwise be thrown away. Materials ranging from precious metals to broken glass, from old newspapers to plastic spoons, can be recycled. The recycling process reclaims the original material and uses it in new products. In general, using recycled materials to make new products costs less and requires less energy than using new materials. Recycling can also reduce pollution, either by reducing the demand for high-pollution alternatives or by minimizing the amount of pollution produced during the manufacturing process. It decreases the amount of land needed for trash dumps by reducing the volume of discarded waste. Recycling can be done internally (within a company) or externally (after a product is sold and used). In the paper industry, for example, internal recycling occurs when leftover stock and trimmings are salvaged to help make more new product. Since the recovered material never left the manufacturing plant, the final product is said to contain pre-consumer waste. External recycling occurs when materials used by the customer are returned for processing into new products. Materials ready to be recycled in this manner, such as empty beverage containers, are called postconsumer waste. B. 3R Campaign in SMA Negeri 1 Purworejo 1. The Motive of the Campaign The campaign of 3R’s implementation in SMA Negeri 1 Purworejo has some important motives, such as: a. SMA Negeri 1 Purworejo initially has a personal cogitation to develop a green society in school thru improving the students’ comprehension of 3R campaign. b. The school management wants to make an eco-activity of teaching and learning process in the school by benefiting no longer unused goods at school, like the former papers, second hand books, and materials trace. c. SMA Negeri 1 Purworejo is perking the new projects up to build eco-friendly constructed buildings in a vacant area, because SMA Negeri 1 Purworejo is being on a period of developing school’s building. d. The stakeholders of the school intend to put 3R slogan into action thru arranging the 3R’s Application School Annual Program. e. The citizen of the school has been cognizant that recycling conserves natural resources by reducing the need for new material. Some natural resources are renewable, meaning they can be replaced, and some are not. Paper, corrugated board, and other paper products come f rom renewable timber sources. Trees harvested to make those products can be replaced by growing more trees. Iron and aluminum come from nonrenewable ore deposits. Once a deposit is mined, it cannot be replaced. 2. The Aim of Practicing 3R In the practice of campaigning 3R program, SMA Negeri 1 Purworejo has a lot of aims that would be achieved, viz.: a. Grooming green society students in the school. b. Putting 3R implementation as an eco-educational culture of the school. This would be expected to give a high-standardized appraisal of the surroundings. c. Reducing a lot of second hand belongings and recycling them to be more advantageous goods. d. Keeping the planted-tree areas in eyes, so the school will be a green and eco-friendly place to have a teaching and learning process. 3. The Implementations Year by year, SMA Negeri 1 Purworejo always refurbishes various school programs to flesh the school citizens’ desires out as a part of global innovative society. The programs of which SMA Negeri 1 Purworejo has amended, for example: a. Recycling Contest This was an annual contest who involved entire classroom’s member as the participants. They worked together to make a creative design of former plastics-fabricated thing and put it into a real good. For the further imaginings, the school had brought theme â€Å"Fashionable Clothes† last year. Each class was given a duty to send a model who worn the recycled-plastics clothes and performed it in front of their friends. This year, the school raised interesting theme up to draw the students for participating, that was â€Å"Monumental Building†. It was out of mind that the students were able to construct astonishing varieties, like Eiffel tower, Noah’s ship, the statue of Ganesha, Neuschwanstein Castle, mosque, military tank, etc. b. Wall Magazine Competition This competition was initially held in purpose of amending the students’ creativity in designing reused-trashes. The wall magazine was created from trashy papers, dried tree-branches and leaves, shoddy cardboards, etc. Every class had to create a wide wall magazine which took natural materials as the main substance. This natural wall magazine would be displayed in front of each class of which the wall magazine belonged to. This creative idea got superbly high appreciation from the people outside the school. c. Recycling Plastic As the Main Material Plastic was used in almost every school utensils, but alas plastics are more difficult to recycle than metal, paper, or glass. One arduous problem faced was that the school got some difficulties in recycling plastics by shredding it into flakes and then melting the flakes into pellets. The final decision that had been taken was the school would redraw the plastics on by creating numerous innovative things, such as: the resave-able bags, comfortable sandals, handicrafts, simple garbage cans, seedling pots, etc., which the entire entities were made from plastic waste. d. Reusing the Organic Trashes The organic trashes, such as dried leaves, branches, roots, etc., were benefitted to be organic fertilizer like compos which were processed well by a modern machine. Besides those tree components, another real reusing process could be observed at the stationery that had been used. For example, the teachers uttered simple instructions to the students for doing the homework given by doing it on the no longer useless paper, like old carton, former paper-packing, scrapped paper, etc. C. Result of the 3R Campaign The result of the 3R campaign’s real implementations in SMA Negeri 1 Purworejo gave a lot of benefit for the school’s citizen. The result of campaigning 3R slogan for specifically: 1. The students love planting herbals and houseplants at home and school. Nowadays they are keen on campaigning a grooming green society program thru filling the school’s wall magazine with news and recently info about the conservations on environment, updating the postings in social medias about the real fact of our latest earth’s condition, and inducing the students to conserve school environments by broadening persuasive slogans among the school citizens. 2. The school management – not long ago – has decreed the regulations to give the best treatment to the school environment. It was very useful to realize the school’s project. 3. The school’s citizen is nowadays fond of recycling the school wastes to be expedient goods, especially handicrafts. 4. The school environment is cleaner than before. There are lots of mini-parks in every school corner. They are very worthwhile for the students who are yearning for comfortable self-learning. 5. There are some student movements that have been created who have main duty as prime mover or activator in treating the continuousness of the green school environs. CHAPTER 3 CULMINATION A. Conclusion From the entire explanations above, we can take some conclusions that is to say: 1. Grooming green society in school is very important because it will give lots of advantages to the school’s citizen. 2. Our allegiance in treating the stability of the nature depends on how we show a good attitude in growing the natural environment up. 3. SMA Negeri 1 Purworejo has tried various endeavors in treating the eco-school surroundings by campaigning 3R slogans’ enactments that were applied to the students and entire school’s citizens. 4. The 3R Application Campaign held by SMA Negeri 1 Purworejo has been done effectively and thru the real implementations, it gave natural balance atmosphere in the school. The shool became greener, cooler, and the air was fresher. 5. The 3R Application Campaign in SMA Negeri 1 Purworejo was supported by students’ movements who desired to spread the allurements in flourishing environs’ stability. 6. The crusading movement of 3R slogan applications done by SMA Negeri 1 Purworejo had involved every school students, so it could be precisely concluded that those tangible endeavors were efficacious and thoroughly successful. B. Suggestion For the other parties who have so much desire to take 3R Application Campaign in action like what SMA Negeri 1 Purworejo has applied, it is advisable to them to be exact: 1. Practicing 3R slogan one by one. Don’t directly apply 3R slogan thoroughly if we consider that we don’t be capable to practice it. 2. Seeking for the other parties’ supports, so we could be easier to take a step forward. 3. Learning the fully environmental eruditions by root, so when we are campaigning about 3R Application, we have comprehended and committed to memorize well everything about go-green movement and environs-treating.

Determinants of Intra-industry Trade

Determinants of Intra-industry Trade Intra-industry trade has been growing rapidly in the past three decades. The main characteristic for intra-industry trade is countries import and export same kind of goods but different levels of quality. Likewise, in intra-industry trade, the goods exchanged are not perfect substitutes. Many studies suggest that more specialized trade structure and more developed countries lead to higher intra-industry trade. Menon (1996) found that in Malaysia and Singapore there was more than 60 percent of the growth in the intra-ASEAN trade in the period of 1986 and 1991 was because of the intra-industry trade growth. Based on the David Ricardo’s economic theories, different countries have their comparative advantage in different manufacture production. Of which, individual regions or countries will specialize in production and thereby export goods that can be produced with comparatively cheaper price than other countries. Increasing in returns and monopolistic competition bring additional possibilities for intra-industry trade among countries. Intra-industry trade usually will takes place in the countries that have similar social structure and economical. Meanwhile, the key factors that affecting intra-industry trade are product differentiation, human capital intensity and economies of scale (Hu Ma, 1999). In a related study, Krugman (1979) developed new theoretical framework which vary from the traditional Heckscher-Ohlin theorem, they introducing models of monopolistic competition that determine increasing returns to scale and the demand of consumers for the varieties of differentiated products as key drivers of intra-industry trade. Besides, Duc (1994) also determined that economic size and capital endowment are important determinants of Intra-industry trade. According to the Thorpe and Zhang (2005), the supply-induced effect on economies of scale ensures production in great volumes of differentiated products. It is because in order to meet consumer’s demand for more variety, the manufacturers can take advantage of economies of scale in production then specializes in production of a variety product. Furthermore, the manufacturers in larger economies will have larger domestic market and more resources. Thus, there is higher possibility for investors to enjoy the economies of scale in production and increase the production of differentiated products. Bernatonyte and Normantiene (2007) mention that intra-industry is important for the changes of economy of a country. Intra-industry trade exploits economies of scale and stimulates innovation. Besides, it changes the structure of goods and nature of international trade in the way of increasing specialization and the increases of the variety of goods throughout differentiated products. Consumers have more choices of goods and the countries can gain benefits from larger markets. Therefore, they concluded that intra-industry is more beneficial than inter-industry trade since intra-industry trade. However, besides of economies of scale and product differentiation, there is also a lot other determinants that can influence the intra-industry trade. Thorpe and Zhang (2005) and Hirschberg, Sheldon and Dayton (1994), identified that there is a positive relationship between economy size and the intra-industry trade. They concluded that economic size of a country can influence the volume of trade. Other than that, the difference in the economies size of trading partners outlines the ability of a country to produce differentiated products. With different sizes of economies, larger economy have the higher demand for differentiated products and they can take advantage of economies of scale to export large volumes of differentiated products and meanwhile, the smaller country are forced to import those differentiated products since they not able to benefit from economies of scale in their own production. Moreover, Khalifah (1996) states that there is a positive relationship between the economic openness and intra-industry trade. The ASEAN countries have different level of openness. She concluded that countries with lower openness, such as Myammar and Indonesia, are expected to have less participation in intra-industry trade in ASEAN. In contract, the higher openness of Malaysia and Singapore are expected to contribute more in intra-industry trade. During the period of 1986 to 1990, there was more than half of ASEAN’s manufacturing trade is carried out under intra-industry type. The openness to foreign investment in Malaysia in the late 1980s had led to a rapid increase in foreign capital, which main on the manufacturing sector and results the expansion of trade in differentiated products. Apart from that, Singapore is also a very open and competitive country. It has generally lowest tariff barriers among ASEAN countries, followed by Malaysia and other countries. Singapore generated a high level of intra-industry trade since 1970s and it was traded heavily with Malaysia since then. Nonetheless, it is found that low openness country, Indonesia had very low level of intra-industry trade during the 1970s but slowly increased in the 1980s. As mentioned by Khalifah (1996) the intra-industry trade between Malaysia, Singapore and Indonesia are more in intermediate goods compared to consumer goods. Indonesia’s intra industry trade is mainly intermediate goods such as primary and processed fuels and lubricant whereas Singapore’s intra-industry trade consists mainly of electronic goods, refined petroleum products, copolymerization, polymerization and natural rubber latex, which in among the top 13 import-export products. This indicates that protectionist sentiment will be minimizes with AFTA since it is under the interest of producers and consumers to maintain free trade environment. In addition, geographical closeness will results the psychological and cultural similarities where increasing trade in differentiated products and having same consumption patterns. Thus, it is offsetting the effects of lower costs through economies of scale. Geographical distance is a natural international trade barrier. The transportation and information costs reduce the volume of intra-industry trade (Thorpe Zhang, 2005). Although, Malaysia, Indonesia and Singapore are located at different geography location and their residents have different preference demands. But because these three countries are just located nearby for each other in Asia, they have actually quite similar cultural and consumption pattern. Besides, the shorter distance and lower information costs allow them to trade to each other more easily. Therefore, there were already many years of bilateral trade history among these three countries. They import goods and services from countries that offer the lowest price, and export goods and services to countries that can receive highest price. This is good for both buyers and sellers in these three countries. The intra-industry trade is very important for all these three countries because the world having scarce resource, intra-industry trade can increase their residents’ standard of living. References Bernatonytel, D. Normantiene, A. (2007). Estimation of Importance of Intra-industry Trade. Engineering Economics, 3(53), 25-34. Duc, N.H. (1994). Intra-industry trade among Asia-Pacific economies: a case study in econometric analysis. Economics Division Working Papers, Research School of Pacific and Asian Studies, Australian National University, Canberra. Hirschberg, J.G., Sheldon, I.M., Dayton, J.R. (1994). An analysis of bilateral intra-industry trade in the food processing sector. Applied Economics, 26, 159-167. Hu, X., Ma, Y. (1999). International intra-industry trade of China. Weltwirtschaftliches Archiv, 135, 82-101. Khalifah, N. A. (1996). AFTA and Intra-industry Trade. ASEAN Economic Bulletin, 12 (3), 351-368. Menon, J. (1996). The dynamics of IIT in ASEAN. Asian Economic Journal, 10, 105–15. Thorpe, M. W. (1993). Intra-industry trade and ASEAN-The experience of Malaysia, The Philippines and Singapore, Ph.D. dissertation, Department of Economics, Florida State University College of Social Sciences, Florida USA. Thorpe, M. Zhang, Z. (2005). Study of the Measurement and Determinants of Intra-industry Trade in East Asia. Asian Economic Journal, 19(2), 231-247.

Analysis of Financial Performance

Analysis of Financial Performance Name: Anjeli d/o Panjalingam Questions Scenario: You have just been appointed for the job of finance executive of a company that is involved in the hypermarket industry, Tisku. Using the Tisku’s financial income and balance sheet provided here, you are required to analyze the financial performance and financial position using ration analysis. Based on the information given in the income statement and balance sheet, calculate the following ratio for both years 2012 and 2013 and compare them to access the financial performance of Tisku. As the finance executive, propose the TEN axioms if finance to your management that would affect their decision, in the relation and examples of hypermarket industry. Task 1 Scenario: You have just been appointed for the job of finance executive of a company that is involved in the hypermarket industry, Tisku. Using the Tisku’s financial income and balance sheet provided here, you are required to analyze the financial performance and financial position using ration analysis. Based on the information given in the income statement and balance sheet, calculate the following ratio for both years 2012 and 2013 and compare them to access the financial performance of Tisku. Introduction Ratio In mathematics, ration is a relationship between the numbers of the same kind. A financial ratio (or accounting ratio) is a relative magnitude of two selected numerical values taken from an enterprise’s financial statements. There are many standards of ration used to try to evaluate the overall financial condition of an corporation or other organization. Financial ratio may be used by mangers within a firm, potential shareholders (owner) of a firm and by a firm’s creditors. Financial ratio is also used to compare the strength and weakness in various companies. Values used in calculating financial ratio are taken from the balance sheet and income statement. The statements data is based on the accounting method and accounting standards used by the organization. Types of Ratio There are four basic types of financial ratio used to measure a company’s performance. They are:- Liquidity ratio This is the most common ratio of current assets to current liabilities. This ratio indicates a company’s ability to pay its short term bills. Current assets = currents asset/ current liability Acid test ratio= currents asset – inventory/ current liability Return of capital employed = net profit/capital employedÃâ€" 100 Profitability ratio Profitability ratio indicates management ability to convert sales dollars into profit and cash flow. Gross profit = gross profit/salesÃâ€"100 , net profit/salesÃâ€"100 Efficiency ratio Two common efficiency ratios are inventory turnover and receivable turnover. A high account receivable turnover means that the company is successful in collecting its outstanding credit balance. Inventory turnover = cost of sales/average inventory Market ratios Market ratios are used to understand how other investors value money. The current market price of a share of common stock versus an indicator of the company’s ability to generate profits or assets held by the company’s is evaluated. Calculations Gross profit margin Net profit margin Current ratio Quick ratio Net working capital Inventory turnover Return of equity Fixed assets turnover Average collection period Average payment period Debt ratio 2012 2013 Gross profit margin= Gross profit /Sales Ãâ€"100%  ­Ã‚ ­ = 7,047,000/31,437,000 Ãâ€"100% = 7,658,000/ 34,654,000 Ãâ€"100% = 22.42% = 22.10% Net profit margin= Net income/ Sales Ãâ€" 100% = 220,000/ 31,437,000 Ãâ€"100% =571,000/ 34,654,000 Ãâ€"100% = 0.70% = 1.65% Current ratio= Current Assents/ Current Liabilities = 8,198,000/ 3,602,000 =9,162,000/3,264,000 = 2.28 =2.81 Quick ratio = Current Assents- Inventory/ Current Liabilities = 8,198,000- 6,354,000/3,602,000 = 9,162,000/6,635,000/3,264,000 =0.511:1 = 0.774:1 Net working capital= Current Assents- Current Liabilities = 8,198,000-3,602,000 = 9,162,000-3,264,000 =RM 4,596,000 = RM 5,898,000 Inventory Turnover= Cost of goods sold/ Inventory = 24,390,000/ 6.354,000 = 26,996,000/ 6,635,000 =3.836 times/year = 4.069 times/year 2012 2013 Return on equity= Net income/ Shareholder’s equity = 220,000/ 6,072,000 = 571,000/ 5,280,000 = 0.0362 = 0.1081 = 3.62% = 10.81% Fixed assets turnover= Sales/ Net Fixed Assents = 31,437,000/ 6,553,000 = 34,654,000/ 6575,000 = 4.797 = 5.271 Average collection period= Accounts receivable/ Daily credit sales =N/A =N/A Average payment period= Accounts payment/ Daily credit purchases =2,009,000/ (24,390,000à ·365) =1,993,000/ (26,996,000à ·365) =30 days =27 days Debt ratio= Total debt( Total Liabilities)/ Total assets Ãâ€"100% = 31,437,000/ 6,553,000 Ãâ€"100% =10,457,000/ 15,737,000 Ãâ€"100% = 58.83% = 66.45% Task 2 As the finance executive, propose the TEN axioms if finance to your management that would affect their decision, in the relation and examples of hypermarket industry. Introduction Finance is the middle ground between the theoretical economics and the accounting world of numbers. Finance is applied economics. Financial implications are at the heart of every business transaction and decisions. Finance is also a valuable tool used to communicate, judge and monitor the result of business decisions. Axioms are the principle universally accepted within a practice or subject area on the basis of its self evident truth or intrinsic merit. The ten axioms used in financial management is the foundation of financial decision making. There are ten important axioms and almost all the industries do uses this uses it in making decision making in finance. How does the ten axioms of finance would affect decision in hypermarket industry? Main Body Axiom 1: The Risk-Return Tradeoff Additional risks will not be taken unless an additional return is expected. At some point, people will have some saved money. What will they do to it? The answer is simple, to expand future consumption activities. Savings are invested to earn more return. Investment alternative have different amount of risk and expected returns. Investors choose to put money in risky investments because investment offer higher expected returns because the more risky an investment, the higher will be its returns. This is a relationship between risk and unexpected returns. In hypermarket industry, for example a new hypermarket is opened, the investors have to invest a lot of money as hypermarket is an expensive retail facility selling a wide range of products under one roof. Thus hypermarket industry needs a lot of money. Investors do not know whether the hypermarket will go popular among the people as it’s newly open. This is creates a higher risk to them. As hypermarket such as Tesco, Giant an d EON is a big industry and not a small business, a big amount of money should be invested. This creates a very big risk which don’t have guarantee in return. Axiom 2: The Time Value of Money A dollar worth today worth more than dollar tomorrow. This is a fundamental concept in finance the money has a time value associated with it. A dollar received today worth more than a dollar received a year from now. Because we can earn interest on money received today, it is better to receive money earlier rather than later. If the benefits overweigh the cost the project creates wealth and it should be accepted. If the cost overweighs the benefit, it should be rejected. In hypermarket industry, when they investors invest money and get profit, they should wisely use the profit get from the business. For example, when get an amount of money after the sales of product, the money should be reinvested to get more profit such as bringing in more product inside the hypermarket. Axiom 3: Cash-Not Profit In measuring wealth, or value, cash flow will be used. Cash flow is received by firms and can be reinvested. A firm’s cash flow and accounting profit may not occur together. For example, capital expenses, such as purchase of new equipment or building are depreciated over several years, with the annual depreciation subtracted from profit. However, the cash flow associated with this expense generally occurs immediately. Therefore cash flow involving paying money out and cash flows that can be reinvested reflect the timing for the benefit of cost. In hypermarket industry, the cash received by the investors will be reinvested into the industry to make the hypermarket bigger and wider. The money that they get can be used for example to pay the dividends to the shop in the hypermarket. Besides, cash can also be used to double the products and sales in the hypermarket. Axiom 4: Incremental Cash Flow The incremental cash flow is the difference between the cash flow if the project is taken on versus what they will be if it is not taken on. Not all cash flow is incremental. The difference between revenues generated by introducing the new product maintaining the original series are the incremental cash flow. The difference reflects true impacts of decision. Guiding rule in deciding whether a cash flow is incremental is to look at the company with and without new product. In hypermarket industry, people should know the difference when there is a new product and their new product and the cash flow in their hypermarket whether it brings profits or not. Thus choosing a new product should be done wisely. Axiom 5: The Curse of Competitive Market Why is it hard to find exceptionally profitable projects? This question tells how competitive market operates and where to look for profitable projects. In competitive markets, extremely large profit cannot exist for so long. How can we find new projects that return more than the required rate of return? Although competitions make them difficult to find, investment should be invested in markets which is not perfectly competitive. Two ways to making less making competitive is to differentiate the products in some key ways to achieve a cost advantage over competitors. Thus, in hypermarket industry, the products being introduced or sold should be differ than the other hypermarkets. Variety kind of product which is hard to find in other hypermarkets can be sold. Besides, different types of services and advertising methods can be used. Cleanliness of the hypermarket should be considered such as toilets. Free parking and can be given to the members of the hypermarket to attract more custom ers. Axiom 6: Efficiency of Capital Market Goals of financial manger are to maximize the shareholder wealth. The markets are quick and prices are right. Information is incorporated into security prices at the speed of light. Assuming the information is correct, and then stock price will reflect all publicly available information regarding the value of the firm. In hypermarket industry, business should be done without wasting resources as they use capital that is invested by the shareholders to buy resources. When selling items, they have to have a target on the selling of a product such as age group, gender, trend and so on. Besides, selling of a product should be according demand, popularity, seasons and festivals to avoid wastage. The four resources which are land, labor, capital and entrepreneurship should be used wisely as it is very limited nowadays. All the resources should be well organized. Axiom 7: The Agency Problem The agency problem results from separation of management and ownership of the firm. Managers are not typically owners of the firms. Managers may make decisions that are in their best interest and not in the line with the long term best interest of the owners. For example, cutting research and development cost on new products to maximize current income and pay for performance. They also may approach less energetically and attempt benefits themselves in terms of salary and perquisites at the expense of the share holders. This produces conflict between two parties. Thus, in the hypermarket industry, managers might bring in a new product in the hypermarket to increase their income without asking any permission from the owner. This might increase the risk to the owner and might bring conflict between them. Besides, there will also be communication barrier because of the foreign workers. Axiom 8: Taxes Bias Business Decisions Any decision taken by financial manager will go impact on taxes. When a new project is evaluated, income taxes play a significant role. Because cash is king, after cash flow of an investment should be considered. The tax consequences of a business decision will impact (reduce) cash flow. Companies are given tax incentives by government to influence their decision. Besides, governments use this fact to shape the decision of a business for. In hypermarket industry, for example, investment tax credit reduces taxes. One of the best example is plastics will not be given and customers will be charged RM 0.20 for the plastics. This will reduce the pollution and it might tax them on the basis on pollution output. Axiom 9: All Risks are not equal Some risks can be diversified away and some cannot. Don’t put all eggs in one basket. Diversification allows good and bad events or observations to cancel each other out preferably reducing total variability without affecting expected return. Process of diversification can reduce risk and as result measuring a profit or an asset’s risk is very difficult. In hypermarket industry, investors can split money and invest in many hypermarkets. This will increase diversification and reduce risks. Resources such as land, labor, capital and entrepreneurship should be divided and cash should be equally spent as it can reduce overall risk. Needs and wants of customers are unlimited, so there should have no more or less stock. Stock should be balanced to reduce wastage. Estimation on the average should be done as early preparation. Axiom 10: Ethical Behavior Means Doing the Right Thing, Ethical Dilemmas are everywhere in Finance Ethical behaviors means is doing the right thing. A difficulty arises however in attempting in define doing the right thing, because each of us have own set of value which forms personal judgments about what is the right thing to do. This will create issues and disagreements in firms. Unethical dilemma eliminates trust and loss in public confidence. Shareholders values suffer and take a long time to recover. Firms have to responsible more than just on owners. In hypermarket industry, to avoid any dilemma all stakeholders should be considered when taking decisions. Some ethical dilemma might happen between the workers itself as each other can’t tolerate or do have some misunderstandings. Products sold in hypermarkets should be guaranteed with the expire date and also quality. Products that are being used should be safe. Ingredients should be checked before a product is being sold in a hypermarket. For products which is used by Muslims, ‘ Halal’ logo should be ensur ed. Besides, when customers were promised with promotional such as free gifts, discounts and so on it should be fulfilled without disappointments to make sure the hypermarket do not lose trust. It is very hard to catch back the trust when next promotion is done. Conclusion Axioms are much statement of common senses as they are the theoretical statements. These axioms of financial management provide logic behind what is to follow. It helps to build on them and attempt to draw out their implications on decision making. In the world of hypermarkets industry, the ten axioms helps to reduce risk on the business and increase the profit and also helps in making a wise decision in financial management. References Bibliography:TheFreeDictionary.com, (2014).axiom. [online] Available at: http://www.thefreedictionary.com/axiom [Accessed 22 Jul. 2014]. Bibliography:Managementparadise.com, (2014).Ten Axioms of Financial Management. [online] Available at: http://www.managementparadise.com/forums/financial-management-fm/200960-ten-axioms-financial-management.html [Accessed 22 Jul. 2014]. Bibliography:Mathsisfun.com, (2014).Ratios. [online] Available at: http://www.mathsisfun.com/numbers/ratio.html [Accessed 22 Jul. 2014]. Bibliography:Investopedia, (2009).Uses and Limitations of Financial Ratios CFA Level 1 | Investopedia. [online] Available at: http://www.investopedia.com/exam-guide/cfa-level-1/financial-ratios/uses-limitations-ratios.asp [Accessed 22 Jul. 2014]. Bibliography:List4everything.com, (2014).Uses of Ratio Analysis | List4Everything. [online] Available at: http://www.list4everything.com/uses-of-ratio-analysis.html [Accessed 22 Jul. 2014]. Introduction to FinancePage 1

Chivalry in Edmund Burkes Reflections on the Revolution in France Essa

Chivalry in Edmund Burke's Reflections on the Revolution in France ...But the age of chivalry is gone... Amidst a wealth of metaphors and apocalyptic maxims, this line is perhaps the most memorable from Edmund Burke's Reflections on the Revolution in France. He masterfully employs the concept of chivalry to express his anti-revolutionary sentiment, and he dramatically connects it to images of land, sex, birth and money to express the widespread disorder that accompanies a loss of chivalry. Nowhere is this idea more explicit than in the following passage: ...–But the age of chivalry is gone. —That of sophisters, oeconomists, and calculators, has succeeded and the glory of Europe is extinguished for ever. Never, never more, shall we behold that generous loyalty to rank and sex, that proud submission, that dignified obedience, that subordination of the heart, which kept alive, even in servitude itself, the spirit of an exalted freedom. The unbought grace of life, the cheap defence of nations, the nurse of manly sentiment and heroic enterprize is gone! It is gone, that sensibility of principle, that chastity of honour, which felt a stain like a wound, which inspired courage while it mitigated ferocity, which ennobled whatever it touched, and under which vice itself lost half its evil by losing all its grossness... (Mellor and Matlack, 16). To fully understand this passage, one must recognize Burke's rhetorical strategy as well as his choice of words beginning with the "age of chivalry" line. First, instead of declaring that this age of chivalry is "dead," he merely asserts that it is "gone." The temporality of this word is important as it sustains potential for chivalry to return. Burke l... ...rals and sentiments, no longer mix or when one takes over the other, as evinced by the French Revolution. Burke makes it explicitly clear that this divorce endangers order in all realms of life. And though the revolution does not exemplify a tragi-comedy, perhaps Burke's writing does. If his society heeds his forewarning and renews chivalry instead of adopting the infant-spirit of rebellion, it will avoid imminent tragedy and end happily in the comedic marriage of reason and emotion. Bibliography of Works Cited Brown, Lesley, ed. The New Shorter Oxford English Dictionary on Historical Principles. Oxford: Clarendon Press, 1993. Holman, C. and William Harmon, eds. A Handbook to Literature. New York: MacMillan Publishing, 1986. Mellor, Anne K. and Richard E. Matlack, eds. British Literature: 1780-1830. Fort Worth; Harcourt Brace College Publishers, 1996.

Essay --

Study has identified the attachment patterns as secure, anxious/preoccupied and avoidant in children. These attachment patterns can have a positive or negative impact on the quality of their future romantic relationships. Romantic relationship quality is one of the most important relationships in adulthood. When individuals fall in love their attachment style is already in place and operating. An understanding of adult attachment is important to begin to understand the effects of attachment patterns on relationships. It contributes significantly to a personal well-being. Based on children’s behaviors during their mother’s presence, absence, and return patterns; attachment styles may also be transfer to the romantic partner during adult relationships (Feldman, 2011). Both children and adults feel anxious when separated from their attachment figures are nearby. Adult romantic attachment relationships are made clear by proximity-seeking, safe haven and secure base. (Brumbaugh, Fraley, Heffernan, & Vicary, 2012). Seeking proximity with their romantic partners may be useless and avoidant people may try to keep a distance from others and remain independent. Romantic partners are overly sensitive to proximity of their partners and signs as a possible threat. Individuals work extremely hard to maintain closeness with their romantic partner and have exaggerated negative emotions when they fail to do so. Adult attachment patterns are the foundation of individuals understanding and expectations about relationships and directs their social interactions. Anxiety and avoidance attachments are two of the most common factors in romantic relationships. Anxious attachments is describe by the desire to be close with others a... ...m to maintain the relationship. Adolescents with avoidant and anxious attachment patterns have a greater conflict in opposite sex relationships (Miga, Hare, Allen, & Manning, 2010). Attachment theory is used to predict if single individuals out of a group would date or enter a committed romantic relationship in the future. Anxious individuals showed eagerness to commit and fall in love with a romantic partner. Avoidant attached individuals were shy about commitment and fall in love. Prior involvement in a committed romantic relationships and self-perceived physical attractiveness are part of dating assessment success. As part of the research men show their desire for greater intimacy in order to start a relationship. Women show a greater desire to start a family. Both men and women are most likely to live together or get married (Schindler, Fagundes, & Murdock

Fall of Berlin Wall

Ashley McCutcheon 2nd 10-27-12 The fall of the berlin wall as a turning point in history 1. â€Å"The Rise and Fall of the Berlin Wall (Part 2). † About. com 20th Century History. N. p. , n. d. Web. 28 Oct. 2012. . This article describes that the berlin wall was put up to divide between the west and east, which were democracy vs. communism at that point. Then later on the communist wanted a subtle change where as the german citizens did not agree, they wanted all of it ended.During 1988 and 1989 communism still weakened in Poland, Czechoslovakia and Hungary, then on the 9th of November in 1989, east german officials made a call to open the gates ultimately giving a sort of freedom to the people. 2. â€Å"Fall of Communism. † Fall of Communism. N. p. , n. d. Web. 28 Oct. 2012. . This article is helpful, because it explains an outcome of the berlin wall falling which was that communism also fell as resultant.Citizens gained power leading to reforms in the east and thus th e government decided to try different ways of ruling the people in order to make an attempt at saving communism. Eventually communism officially fell in 1991 when Gorbachev was forced to give power to Boris Yeltsin who diminished communism. 3. Goldenberg, Phyllis. â€Å"The Fall of the Berlin Wall: A Personal Account. † The Fall of the Berlin Wall. N. p. , 1994. Web. 27 Oct. 2012. . In this article, a personal account of how the event affected the people of berlin is presented. Phyllis Golden burg, a middle aged man living in Denmark, describes how him, among his friends and many others traveled from their homes to go see the Berlin wall after hearing of its supposed removal. The wall was being torn down by everyone and people were pouring through to the other side, a sort of revolution like no other could be.

Concepts Of Essential Medicine Health And Social Care Essay

The Alma-Ata declaration during the International Conference on Primary Health Care in 1978 reaffirms that wellness is a cardinal human right and the attainment of the highest possible degree of wellness is a most of import worldwide societal end[ 1 ]. The Alma Ata declaration has outlined the eight indispensable constituents of primary wellness attention and proviso of indispensable medical specialties is one of them. Medicines are built-in parts of the wellness attention and the modern wellness attention is unthinkable without the handiness of necessary medical specialties. They non merely salvage lives and promote wellness, but prevent epidemics and diseases excessively. The medical specialties are doubtless one of the arms of world to contend disease and unwellness. Accessibility to medical specialties is therefore the cardinal right of every individual.Concepts of ‘Essential Medicine ‘Harmonizing to World Health Organization ( WHO ) â€Å" drug is any substance or m erchandise which is used or intended to be used to modify or research physiological system and pathological province for the benefit of the receiver † . The WHO introduced the construct of indispensable medical specialties in 1977[ 2 ]. Essential medical specialties are those that satisfy the precedence wellness attention demands of the population. They are selected with due respect to public wellness relevancy, grounds on efficaciousness and safety, and comparative cost-effectiveness. Essential medical specialties are intended to be available within the context of working wellness systems at all times in equal sums, in the appropriate dose signifiers, with assured quality and equal information, and at a monetary value the person and the community can afford. The execution of the construct of indispensable medical specialties is intended to be flexible and adaptable to many different state of affairss ; precisely which medical specialties are regarded as indispensable remains a national duty. Experience has shown that careful choice of a limited scope of indispensable medical specialties consequences in a higher quality of attention, better direction of medical specialties ( including improved quality of prescribed medical specialties ) , and a more cost-efficient usage of available wellness resources. The WHO has developed the first indispensable medical specialties list in 1977 and since so the list has been revised every 2 old ages. The current versions are the 17th WHO Essential Medicines List and the 3rd WHO Essential Medicines List for Children updated in March 2011. The indispensable medical specialty list contains limited cost-efficient and safe medical specialties, while the unfastened pharmaceutical market is flooded with big figure of medical specialties many of which are of dubious value. The exemplary list of WHO serves as a usher for the development of national and institutional indispensable medical specialty list. The construct of indispe nsable medical specialties has been worldwide accepted as a powerful tool to advance wellness equity and its impact is singular as the indispensable medical specialties are proved to be one of the most cost-efficient elements in wellness attention.Standards for choosing indispensable medical specialtiesWhich intervention is recommended and which medical specialties are selected depend on many factors, such as the form of prevalent diseases, intervention installations, the preparation and experience of available forces, fiscal resources, and familial, demographic and environmental factors. The undermentioned standards are used by the WHO Expert Committee on the Selection and Use of Essential Medicines: Merely medical specialties for which sound and equal grounds of efficaciousness and safety in a assortment of scenes is available should be selected Relative cost-effectiveness is a major consideration for taking medical specialties within the same curative class. In comparings between medical specialties, the entire cost of the intervention – non merely the unit cost of the medical specialty – must be considered, and be compared with its efficaciousness In some instances, the pick may besides be influenced by other factors such as pharmacokinetic belongingss or by local considerations such as the handiness of installations for industry or storage Each medical specialty selected must be available in a signifier in which equal quality, including bioavailability, can be ensured ; its stableness under the awaited conditions of storage and usage must be determined Most indispensable medical specialties should be formulated as individual compounds. Fixed dose combination merchandises are selected merely when the combination has a proved advantage in curative consequence, safety, attachment or in diminishing the outgrowth of drug opposition in malaria, TB and HIV/AIDS.Use of Essential Medicine ListThe construct of indispensable medical specialties has besides been adopted by many international organisations, including the United Nations Children ‘s Fund ( UNICEF ) and the Office of the United Nations High Commissioner for Refugees ( UNHCR ) , every bit good as by non-governmental organisations and international non-profit supply bureaus. Many of these organisations base their medical specialty supply system on the Model List. Lists of indispensable medical specialties besides guide the procurance and supply of medical specialties in the populace sector, schemes that reimburse medical specialty costs, medicine contributions and local medica l specialty production, and, moreover, are widely used as information and instruction tools by wellness professionals. Health insurance strategies excessively are progressively utilizing national lists of indispensable medical specialties for mention intents. The theoretical account list serves as a baseline for farther alteration ( add-on and omission of new medical specialties ) , right dose strength, and signifier depending upon the national precedence and available groundsEssential medicine list of IndiaOne of the critical constituents of the wellness attention is medicine, as they account for a significant portion of family outgo. The overall budget of medical specialties varies widely in different provinces in India. The outgo form on medical specialties of the State Government shows that there are wide-ranging differences across provinces, from every bit small as less than 2 % in Punjab to every bit much as 17 % in Kerala during 2001-02[ 3 ]. The southern provinces such as Ke rala and Tamil Nadu spend over 15 % of their wellness budget on medical specialties. Many rearward provinces, both in economic and wellness index footings, incurred the lowest outgo on medical specialties. States such as Assam, Bihar, U.P. , and Orissa spent approximately 5 % or less of their wellness budget on medical specialties. The Cardinal Government ‘s portion of medical specialties in its entire wellness budget is about 12 % . In all, approximately 10 % of the wellness budget goes into securing medical specialties in India. Even so, handiness of medical specialties frequently is a large issue. The non-availability of required medical specialties jeopardizes the credibleness of the public wellness system. Access to indispensable medical specialties is closely linked to wellness system public presentation and its use. The non-availability of indispensable medical specialties in the wellness installations is non the lone issue ; there are jobs of affordability and handines s despite passing a big proportion of resources on medical specialties. The handiness of medical specialties is undermined by several factors: hapless medical specialty supply and distribution systems ; deficient wellness installations and staff ; and low investing in wellness, and the high cost of medical specialties. The Essential Medicines List can assist states apologize the buying and distribution of medical specialties, thereby cut downing costs to the wellness system. This construct of indispensable medical specialties is comparatively new to India and Tamil Nadu is the first province to develop the indispensable medical specialty list every bit early as in 1994. Then authorities of Delhi excessively had developed its ain list. The authorities of India and many other single provinces have their ain indispensable medical specialties list, and the current national list was compiled during 2011. The list has been updated after 8 old ages. As the list needs to be developed locally and should be based on grounds non simply on single ‘s experience, it is necessary foremost to develop clinical guidelines, called criterion intervention guidelines ( STG ) . Then based on STG the list is compiled. Delhi took the lead in developing a comprehensive Drug Policy in 1994 and was the lone Indian province to hold such a comprehensive policy[ 4 ]. The policy ‘s chief aim is to better the handiness and handiness of quality indispensable drugs for all tho se in demand. Now many province authoritiess excessively have developed STG for usage within the province authorities wellness installations. The Armed Forces Medical College ( AFMC ) has developed STGs for rather big figure of common conditions and the intervention cost is besides calculated[ 5 ].Outstanding characteristics of National List of Essential Medicine ( NLEM ) 2011The medical specialties have been categorized harmonizing to curative country. Therefore a medical specialty with more than one indicant appears in more than one class. The strength of medical specialty dosage is mentioned. For essentialness of demand the medical specialties have been categorized as follows: P, S and T denote essentialness at Primary, Secondary and Tertiary degrees severally while P, S, T ( U in NLEM 2003 ) indicates essentialness at all the degrees. A sum of 348 medical specialties are present in NLEM 2011. In the NLEM 2011, 181 medical specialties autumn under the class of P, S and T, 106 medical specialties autumn under the class of S, T while 61 medical specialties are categorized as T merely. In comparing to NLEM 2003, 47 medical specialties have been deleted and 43 new medical specialties have been added.Some glaring errors in NLEM 2011Some glaring errors which catch the oculus while reading the NLEM 2011 are: NLEM includes pheniramine maleate, chlorpheniramine maleate and dexchlorpheniramine maleate as antiallergic. Even though these three different drugs are available in three different preparations, all the three need non be included in the indispensable list as these three medical specialties do non differ in efficaciousness but merely in their pharmacokinetic features Drugs from the same group which do non differ much from the paradigm need non be included in an indispensable list. Many antibiotics from the same category are included in the NLEM. For illustration, two antibiotics ( Erythrocin, and Zithromax ) have been included, as in the instance of Mefoxins Drugs for which best grounds for effectivity and safety exist are non included while some other drugs in the same group are added. For illustration, Tenormin has the best grounds among many I?-blockers, yet it is non included as an antianginal Even though both Amoxil and Principen are included in WHO EML and EMLc, the preparations differ. Amoxicillin is listed for unwritten usage and Principen parenterally. However, National EML lists unwritten preparations for Amoxil and Principen. Ampicillin is inferior to amoxicillin by unwritten path as it has less unwritten bioavailability and high incidence of diarrhea. Oral preparations of Principens need to be deleted from National EML.Significant skipsExcluding an indispensable drug can hold a important consequence on the entree to medical specialties. The NLEM 2011 has omitted some of import indispensable drugs such as: Iron and folic acid tablets do non organize a portion of the NLEM. Sing the high prevalence of anaemia in pregnant adult females in India, Fe and folic acerb supplementation during gestation is really of import. The fixed dose combination of ferric sulphate + folic acid should be made available in all primary wellness Centres ( PHCs ) so that every pregnant adult female has entree to it. The WHO EML includes it, but non the NLEM. Many drugs ( paracetamol, morphia, steroids such as Decadron, cortisol, Pediapred, many antibiotics, water pills such as Lasix, hydrochloro-thiazide, Aldactone and other drugs such as Valium, Coumadin, diphenylhydantoin, etc. ) do non hold either the dosage or dose signifier appropriate for kids. The riddance of diphenylhydantoin alterations from first order to zero order above the dosage of 300 mg/day. Titration of dose above this bound should be in the magnitude of 25 milligram. Hence, 25 milligram tablets are non merely needed for kids but besides for grownups and have hence been included in WHO EML and EMLc. The NLEM does non name phenytoin tablets of this strength. No fixed dose combination of first-line antitubercular drugs has been included in the NLEM. The combination of four drugs ( INH + rifampicin + ethambutol + pyrazinamide ) and two drugs ( INH + rifampicin ) are indispensable and should be included. No second-line antitubercular agent ( except ofloxacin ) is included in the NLEM. They are indispensable for secondary and third attention infirmaries. No drug other than Larium is included for prophylaxis of malaria.DecisionThe NLEM 2011 is significantly better than the NEML 2003. It has some errors and skips which hopefully can be corrected in the following alteration. While fixing such indispensable list demands of local people should be of the paramount importance. The Government should revise the list rather often.

The Hunters: Phantom Chapter 36

Damon was the first to move, which didn't surprise Elena. His leather jacket scorched, long burns running across his face and arms, he staggered past the others through the fire and threw open the garage door. Outside, thunder rumbled overhead and a heavy rain was fal ing. Despite the rain, the garage was burning ferociously, flames licking their way up the sides of the smal building and across the roof. As they al stumbled outside, Meredith, coughing, turned her face up to the rain. Matt and Alaric supported Mrs. Flowers and placed her in the driver's seat of her car. Elena held her hands out, letting the driving rain wash away the soot and soothe her burns. The rest of her friends mil ed around not far from the burning garage, stil stunned. â€Å"Oh, Damon,† said Bonnie. She paused to cough and wheeze for a few seconds, then leaned careful y toward Damon, avoiding his injuries, and kissed him on the cheek. â€Å"I'm so happy you came back.† â€Å"Thank you, redbird,† Damon said, patting her on the back. â€Å"Excuse me for a second; I need to take care of something.† He stepped away and caught Elena by the hand. In the distance came the wail of sirens, signaling the advance of fire trucks and police cars drawn by the fire. Damon pul ed Elena toward the dark shadows under a tree near the house. â€Å"Come on,† he said. â€Å"You need blood now.† He felt his throat with charred fingers, then drew a fingernail against one of his veins. His leather jacket was practical y destroyed, just rags and ashes hanging from him, and the long burns on his face and body were stil red and raw-looking, but already better than they had been a few minutes before. â€Å"I could do that,† said Stefan, approaching them and leaning against the wal of the house. He looked tired and bedraggled, but his injuries, too, were already healing. â€Å"Elena's always welcome to my blood.† â€Å"You can definitely pitch in. But that's a bad injury she's got,† said Damon matter-of-factly, â€Å"and you don't have the Power to heal it right now.† Elena had been trying not to look at her right hand. Although she couldn't real y move it, it didn't hurt much anymore. Which was probably a bad sign, actual y. Did that mean the nerve endings were dead? A quick, anxious glance down at her hand made her stomach churn. Even that tiny glimpse showed her horribly blackened and reddened flesh and peeling skin and – God – she thought she'd seen a glimpse of bone beneath the flesh. She let out a low, involuntary whimper. â€Å"Drink,† said Damon impatiently. â€Å"Let me fix it before they come and drag you off to the burn unit.† Elena stil hesitated, and Damon sighed and turned to Stefan again. â€Å"Look,† he said, his voice softening, â€Å"it's not always about Power. Sometimes the blood is just about taking care of someone.† â€Å"I know that,† Stefan replied, blinking tiredly at him. â€Å"I just wasn't sure that you did.† Damon's mouth twisted in a wry smile. â€Å"I'm an old man, little brother,† he said. â€Å"I know a lot of things.† He turned back to Elena. â€Å"Drink now,† he insisted, and Stefan smiled reassuringly at her. Elena nodded at Stefan before pushing her mouth tightly against Damon's neck. The second she tasted his blood, Elena became wrapped in warmth and the pain in her hand stopped. She no longer felt the unpleasant cold drumming of the rain on her head and shoulders, the icy trickle of water down her body. She was cozy and safe and loved, and time had stopped just long enough for her to catch her breath. Damon? she thought, and reached out to his mind with hers. He answered her without words, but with a wave of affection and care, of undemanding love. Through the haze, Elena realized there was something new here†¦ When she and Damon had al owed their minds to touch in the past, she had often sensed that Damon had been holding back a part of himself. Or, on the rare occasions when she got past the inner barriers he'd thrown up against intruders, she'd found hurt and rage, a lost child chained to a rock. Now Elena sensed only love and peace as she and Damon melted into each other. When she pul ed back from him at last, it took her a moment to return to the real world. Stefan was no longer next to them. It was raining stil , cold water running through her hair, over her shoulders, down her neck and arms and body. Her hand ached and was stil badly burned, but it had healed to the point of needing ointment and a bandage rather than surgery. A couple of fire trucks and police cars pul ed into the drive, lights blazing, sirens screaming. Closer to the garage, she saw Meredith abruptly drop Stefan's arm, and Elena realized Meredith had been drinking from his wrist. She realized vaguely that she would have been shocked by this only a few hours ago – she would have assumed Meredith would shy away from touching the blood of any vampire, and Stefan had always reserved his blood for Elena as part of the connection only they shared – but she couldn't work up any real emotion about it now. It felt like al the barriers between their group had broken down. Whether this new state of things lasted or not, they were al one for now. They'd seen the worst of one another. They'd told the truth and come out the other side. And now, if Meredith needed to be healed, of course Stefan would give her his blood. It would be the same for any of them. The firemen jumped from their truck and unrol ed the hoses. As they turned their a ttention to putting out the fire, a couple of uniformed police officers and a man who must be the fire marshal walked purposeful y toward Mrs. Flowers, Matt, Alaric, Celia, and Bonnie, al of whom were now huddled in the car. Meredith and Stefan headed toward them, too. â€Å"Why didn't they help her into the house?† Elena wondered aloud suddenly, and Damon turned a blank gaze of surprise on her. â€Å"I have no idea,† he said slowly. â€Å"It never even occurred to me that we could go inside. I guess everyone felt like they should be out here to watch it burn. Make sure the phantom doesn't come out.† â€Å"It's like we were at the end of the world,† she said softly, thinking aloud. â€Å"Even the boardinghouse seemed so far away that it just wasn't part of the picture. Now that other people are here, the world is starting to turn again.† Damon hmmmed noncommittal y. â€Å"We'd better get over there,† he said. â€Å"I think they could use some help.† Mrs. Flowers's voice was raised indignantly, although Elena couldn't make out the words. As she trailed after Damon she smiled to herself: Since when had Damon cared whether anyone, except Elena herself, could use some help? As they got closer, Elena could see that Mrs. Flowers had gotten out of the car and assumed her best expression of dottiness and eccentricity, blue eyes wide, arms akimbo, as Alaric held an umbrel a over her head. â€Å"Young man!† she snapped at the fire marshal. â€Å"What are you trying to imply by asking why my car wasn't parked in the garage? Surely I have every right to distribute my possessions anywhere I like on my own property! What sort of world do we live in where I am penalized, where I am judged for not fol owing conventions? Do you dare to suggest that I might have had some advance knowledge of this fire?† â€Å"Wel , ma'am, it's been known to happen. I'm not suggesting anything, but the matter has to be investigated,† said the fire marshal stolidly. â€Å"What're al these kids doing here?† one of the police officers asked, shooting a glance around. His eyes lingered on Damon's burned leather jacket and the raw skinless patch on Stefan's cheek. â€Å"We're going to need to talk to al of you,† he said. â€Å"Let's start by getting your names and addresses.† Stefan stepped forward and held the officer's eyes with his. â€Å"I'm sure that won't be necessary,† he said softly, compel ingly. Elena could feel him using his Power. â€Å"The garage burned because it was struck by lightning in the storm. No one was here except the old lady in the house and a few of her guests. Everything's so straightforward and simple, there's no need to question anyone.† The officer looked puzzled and then nodded, his face clearing. â€Å"These storms can cause a lot of property damage,† he replied. The fire marshal snorted. â€Å"What are you talking about? Lightning didn't strike anywhere near here.† Stefan shifted his gaze to the fire marshal. â€Å"There's nothing to bother investigating†¦Ã¢â‚¬  But the spel was broken, and now al three men were looking at him with suspicion. Stefan's Power wasn't going to be strong enough to use on al three, Elena realized, and he wouldn't be able to convince even one of them if the men were al together, awakening one another's doubts. Stefan's face was drawn and tired. He had fought a long battle – more than one, actual y. And Stefan was never strong in Power, not when he didn't drink human blood. If he'd been worrying over her and preparing to fight the phantom, it had probably been days since he had had even more than a few swal ows of animal blood. Damon stepped forward. â€Å"Sir?† he said politely. The fire marshal looked at him. â€Å"If I could speak to you privately for a moment, I'm sure we can clear this up.† The marshal frowned but fol owed him to the back porch of the boardinghouse, the second police officer tagging along. Under the porch light, they faced Damon, at first suspicious. Gradual y, as he spoke to them, their shoulders relaxed and they began to nod and smile. Stefan spoke softly to the other officer again. He'd be able to handle influencing one person alone, Elena knew, even in his current state. Meredith and Bonnie had gotten into the backseat of Mrs. Flowers's ancient automobile – so old that Elena suspected it might predate Mrs. Flowers herself – and were deep in conversation, while Alaric and Celia continued to support Mrs. Flowers under the umbrel a as she listened to Stefan's conversation with the police officer, Matt hovering nearby. Elena walked quietly past them and slipped into the back of the car with Bonnie and Meredith. The door shut with a satisfyingly heavy clunk, and the black leather bench seat creaked and groaned under her. Bonnie's red curls were soaked straight, wet tendrils hanging down over her shoulders and sticking to her forehead. Her face was smudged with ash and her eyes were red, but she gave Elena a genuinely happy smile. â€Å"We won,† she said. â€Å"It's gone for good, isn't it? We did it.† Meredith was solemn yet exultant, her gray eyes shining. There was stil a smear of Stefan's blood on her lips, and Elena stifled the urge to wipe it away for her. â€Å"We did win,† Meredith affirmed. â€Å"You both did so amazingly. Bonnie, it was real y smart of you to start casting off jealousies as fast as you could. It kept the phantom off balance. And Elena†¦Ã¢â‚¬  She swal owed. â€Å"Plunging into the fire was so brave of you. How's your hand?† Elena held out her hand and flexed the fingers in front of them. â€Å"The incredible powers of vampire blood,† Elena said lightly. â€Å"Very useful for the aftermath of a battle, right, Meredith?† Meredith flushed at Elena's teasing, then smiled a little. â€Å"I don't know,† she said. â€Å"It seemed sil y not to use al our†¦ advantages. I feel better already.† â€Å"You were terrific, too, Meredith,† Bonnie said. â€Å"You fought like you were dancing. Graceful and strong and beautiful and so supertough, the way you used your stave.† Elena agreed. â€Å"I never could have gotten the rose if you hadn't cut the phantom.† â€Å"I guess we're al terrific,† said Meredith. â€Å"The first meeting of the Robert E. Lee High School Alumni Mutual Admiration Society is now cal ed to order.† â€Å"We'l have to get Matt in and tel him how wonderful he is,† Bonnie said. â€Å"And I guess Stefan also counts as an alum, right? I think now that the world's changed, he might have graduated with us.† She yawned, showing a smal pink tongue like a cat's. â€Å"I'm just worn out.† Elena realized she was, too. It had been a very long day. A very long year since the Salvatore brothers had come to Fel ‘s Church and life had changed forever. She slumped down in the seat and rested her head on Meredith's shoulder. â€Å"Thank you for saving the town again, both of you,† she said sleepily. It seemed important to say it. â€Å"Maybe tomorrow we can start working on normal again.† Meredith laughed a little and hugged them both. â€Å"Nothing can defeat our sisterhood,† she said. â€Å"We're too good for normal.† Her breath hitched. â€Å"When you were both taken by the phantom,† she said quietly, â€Å"I was afraid I had lost you forever. You're my sisters, real y, not just my friends, and I need you. I want you to know that.† â€Å"Absolutely,† Bonnie said, nodding feverishly. Elena reached out for both of them. The three friends squeezed one another tightly in a laughing, slightly tearful group hug. Tomorrow would come, and maybe normal – whatever that was at this point – would come, too. For now, Elena had her true friends. That was a lot. Whatever happened, that would be enough.