Le Belle Dame Sans Merci written on 1820 by John Keats Essays

Le Belle Dame Sans Merci composed on 1820 by John Keats Essays Le Belle Dame Sans Merci composed on 1820 by John Keats Paper Le Belle Dame Sans Merci composed on 1820 by John Keats Paper I will think about the sonnets Lochinvar composed by Walter Scott in 1808 and Le Belle Dame Sans Merci composed on 1820 by John Keats. Lochinvar and Le Belle Dame Sans Merci are two Romantic sonnets that asserted prevalence in the development of Romanticism essentially in light of the fact that they were short long, the two of them recount to a story and contain a plot, they were stylish for the Romantic development likewise they were anything but difficult to recall and present. The fundamental and most evident closeness between the two sonnets is that they are Romantic. The Romantic time frame started around 1798 and finished roughly around 1832. Sentimental verse focused on nature, emotions and feelings. Besides the topics of the heavenly and medieval were utilized. It was a break with the old custom, that was until the Victorian development moved in and individuals, activities, outward profound quality and reason were progressively significant. Sonnets, for example, Porphyrias Lover were composed during the Victorian development. One of the fundamental contrasts between the two sonnets would be that Le Belle Dame Sans Merci is a number while Lochinvar utilizes rhyming couplets and ancient language. What's more Le Belle Dame Sans Merci could be portrayed as being shocking and deplorable where Lochinvar is the ideal fantasy with the ideal consummation. Le Belle Dame Sans Merci can be viewed as a melody on account of its shocking substance, the consideration of a knight and the viable utilization of regular symbolism. It is broken into four line refrains as songs typically are and a standard mood. Also every one of the four line verses depicts a different occurrence in the sonnet, separating it into little, short scenes. Le Belle Dame Sans Merci opposes being an anthem in a couple of ways. One of the most significant being that it doesn't follow the normal rhyme plan of A B A B; rather it goes A B C B. Lochinvar is additionally written in the style of a number somewhat. It is to a greater extent a people style of composing. A few instances of this would be the point at which, The lady of the hour kisses the cup, and, He stayed not for bracken, and he halted not for stone. There is likewise some ancient language utilized, for example, ere, ye, saith, twere better by a long shot, and quoth. Age-old language is commonly used to carton a Scottish articulation and stress medieval topic. The Scottish component bolsters the possibility of the society style of composing. The rhyme conspire utilized in this sonnet is rhyming couplets adding a consistent mood to the sonnet. There is additionally a modest quantity of common symbolism utilized. The tale of Lochinvar tells a story of a knight who proceeds to safeguard the lady that he adores from her wedding. Lochinvar needs to get hitched to Ellen. Ellen has quite recently been hitched however Lochinvar turns up at the wedding gathering. Plainly Lochinvar and Ellen are infatuated. They hit the dance floor with one another at the wedding gathering however Ellens mother and father are not in the slightest degree satisfied with this. It is now that they flee together. Their families endeavor to tail them. The primary characters in Lochinvar would be Ellen and Lochinvar. Lochinvar is a Scottish Lord and Knight. He is courageous and strong. We know this since, He rode all unarmed and, he rode isolated, additionally He halted not for break, and he halted not for stone, and He swan the Esk River where passage there was none. There is some hypothesis that he could be risky. We realize that Ellens family is very wealthy, the live at Netherby Hall. Furthermore, Ellens guardians don't support of Lochinvar. It could be conceivable that Ellens marriage could be organized. Lochinvar and Ellen have been infatuated for quite a while so perhaps Ellens guardians masterminded this union with attempt to bar Lochinvar from Ellens life. The narrative of Le Belle Dame Sans Merci is that of a disastrous one, finishing off with conceivable passing and riddle. The storyteller in the sonnet meets a knight who looks amazingly unwell. The storyteller asks the knight what's going on. He keeps on telling the storyteller that he met a pixie in the field. He made her some gems comprising of blossoms, at that point the pixie reveals to him that she cherishes him. The pixie at that point took the knight to a cavern. She cries and he kisses her. The pixie at that point sings the night to rest, at that point he has awful dreams about death. He at that point wakes and gives off an impression of being in a field. A solid chance is that the entire experience could have been a fantasy. English Literature Kieran Walsh 10E Show see just The above see is unformatted text This understudy composed bit of work is one of numerous that can be found in our GCSE John Keats area.

The Color Purple - The Struggle To Express Themselves Essays

The Color Purple - The Struggle to Express Themselves There is one early stage motivation behind why we don't question Europeans have started to lead the pack ever, in all ages when 1492, and it has little to do with proof. It is a fundamental conviction which we acquire from earlier periods of thought and barely understand that we hold: it is an understood conviction, not an unequivocal one, and it is so enormous a hypothesis that it is woven into the entirety of our thoughts regarding history, both inside Europe and without. . . (Blaut pg. 6-7). African-American individuals have needed to move over numerous deterrents to get to their position today. To begin with, was the selling of their kin into bondage. At that point, they suffered servitude itself, being dealt with like a creature. After subjection was canceled, Colored individuals despite everything needed to manage racial separation and scorn. On the off chance that this sounds harsh, dark ladies had it more regrettable. African-American ladies needed to manage all the recently referenced things, yet they were ladies as well! Females were mistreated nearly as awful as the blacks. White ladies couldn't cast a ballot until the 1920. Hence hued ladies had a twofold edged blade, they needed to battle for opportunity, yet not be to rule as to impact the men. Alice Walker's The Color Purple is a genuine case of hued ladies' situation. Three deterrents dark ladies needed to defeat to have the option to communicate were Racism, the absence of training, and the sound system typ e that ladies are substandard. African-Americans have consistently experienced prejudice all through their home in America. Subjugation, is the thing that caused the vast majority of the disdain towards blacks. African Americans were sold by their kin and sent off to an outside land. Minorities individuals were utilized as work ponies when they entered America. It was satisfactory for a white individual to be apathetic (in the South), and hence, a white individual exploits this (Theriault). White individuals needed to keep their sluggishness. On the off chance that the slaves were liberated, at that point the whites would need to accomplish more work. The slaves despite everything battled for what they needed, lastly won their freedom. Another situation was if the south could abrogate subjection, what might befall the slaves? These slaves have been slaves for their entire lives and would require instruction. These slaves would likewise require homes, some sort of remuneration, and that's only the tip of the iceber g (Theriault). Blacks were set in jail for opposing the white foundation. Most occasions these wrongdoings were little in contrast with the violations submitted against blacks or by whites. A minority individual could be placed in prison for taking a gander at somebody improperly, yet on the off chance that a dark man was lynched, nothing occurred. I have been bolted by the uncivilized. Cuffed by the haters. Choked by the ravenous. Furthermore, on the off chance that I know anything by any stretch of the imagination, it's that a divider is only a divider and nothing more by any means. It tends to be separated (Shakuer). This selection from Attestation is a case of the sentiments of disdain for the Whites. In any case, this citation likewise shows the battle in the African-American race not to mention its ladies. On the off chance that the South could have gotten training far from the blacks. At that point ides as the one above would have never been distributed. Absence of instruction was a way the South attempted to keep the blacks in a lower class. In The Color Purple, Celie isn't permitted to go to class since she is to be kept shoeless and pregnant. She despite everything got a training by realizing what her younger sibling was showing her, however. It was accepted that on the off chance that the blacks were kept uneducated, at that point they would not have a clue about any better and would not battle for opportunity. Tragically, for the South, the North was teaching their blacks. At that point these blacks were coming south and beginning universities for minorities individuals. Booker T. Washington composed, in his personal history, At some point, while at work in the coal-mineshaft, I happened to catch two diggers discussing an incredible school for minorities individuals some place in Virginia. This was the first occasion when that I had ever heard anything about any sort of school or school that was more self important than the little shaded school in our town. In the dimness of the

The Luck of Roaring Camp Free Essays

The story begins with a one of a kind occasion. What's going on here? What criticalness would you be able to connect to the occasion? The story is initiated by a one of a kind occasion which is the introduction of a kid in the gold mining camp where â€Å"Deaths were not strange in Roaring Camp; however a birth was huge news†. Especially, the presence of the infant, a vagrant now, in the â€Å"roaring† land among all men who were either outlaws, crooks, or miners put them into a predicament. We will compose a custom paper test on The Luck of Roaring Camp or on the other hand any comparable theme just for you Request Now They were a discourteous grouping of all the cliché terrible individuals on the planet, surely not fit to be the watchmen of a child. The nearness of the youngster, subsequently, figures the uncommon changes in this land and in these men. Also, apparently, in correlation with the Orient viewpoint, the Occident appears to consider the birthday considerably more significant than the spending one since Birthday is the beginning stage of another life. 2. Rundown 2 changes that were achieved with the happening to the child. How would you decipher these changes?Changes at that point started in Roaring Camp alongside the happening to the infant; work of recovery intangibly came over the settlement. In the first place, â€Å"Roaring Camp created stricter ‘personal cleanliness’ upon the individuals who tried to hold ‘The Luck’. Taking Kentuck as a run of the mill model, he was some time ago new to anything ‘clean’, showed up each evening in a perfect shirt, and face sparkling. The men put on something else like a snake shedding skin for another wonderful and cheerful life. Additionally, Stumpy had forced a kind of isolate on who might have the pleasure of holding Tommy.Tommy should consistently find a sense of contentment and not upset by clamor, in this manner the yelling and hollering was not allowed close enough to hear Stumpy. The players, consumers and lawbreakers used to cause the camp to turn into a â€Å"roaring† one, presently genuinely â€Å"converse in murmurs, or smoked with Indian gravity†. I recognize obviously that the youngster made all the rough men become the committed one and brought about the tremendous recovery significantly inside their spirits and spirits. They all situated to the new life, extremely serene, delightful and delicate. 3. What do you see as the most contacting subtlety of the story? The picture toward the finish of the story which portrayed Kentuck holding Luck inspires endless feeling on me. In any event, being savagely squashed, he despite everything held The Luck of Roaring Camp in his arms. Passing has by and by been available †The demise of ‘the Luck’. All the men put incredible love on Luck, their pride, their expectation and their satisfaction, particularly Kentuck. From the main second when Luck was conceived, â€Å"as Kentuck twisted around the table inquisitively, the kid turned and got at his finger, and held it quick for a moment.Kentuck looked absurd and humiliated something like a redden in his climate beaten cheek†. He held his adoration firmly in his arms yet Luck was pulseless. Dead. He affirmed that and grinned, â€Å"a grin lit the eyes of the terminating Kentuck†. â€Å"Dying, he’s taking me with him†. His final words were â€Å"Tell the young men, I’ve got the Luck with me now†. He was not terrified of death, no groaning, no moaning, alternately, he fulfilled and content with his predetermination that he were with Luck now and saved the infant forever. Kentuck kicked the bucket, yet he left the world realizing he would be setting off to a superior place.Until the last snapshot of his life, Kentuck still put his whole endeavor to ensure the Luck and the Luck of Roaring Camp consistently was protected with his consideration. â€Å"The resilient man, sticking to the slight darling, floated away into the shadowy waterway that streams always to the obscure sea†. 4. On the off chance that you can say one thing regarding Kentuck, what do you say? Kentuck †an unmistakable resident of the Roaring Camp, he burned through the entirety of his affection for the Luck. He incredibly adored and thought about the infant. Kentuck is the agent of the diggers in Gold Rush.He has changed himself totally in view of the presence of the kid; from profoundly inside his spirit, he despite everything was starving for an ordinary and tranquil existence with family and with the coming children. Harte has effectively developed the natural picture of the man, which reflected obviously Realism in this composition. 5. How would you see the heartbreaking consummation of the story? Story is shut with the lamentable consummation †The Death of three primary characters: Stumpy, Kentuck and Luck. I feel as though they were a family with Stumpy as mother, Kentuck as father and Luck as their son.It can be seen that the story is the adaptable and symphonious blend of both Romanticism and Realism. What's more, the writer applied Realism to end his work, which, I assume, will be amassed in readers’ mind for the since a long time ago run. Subsequent to seeing the constructive upgrades of the Roaring Camp, the perusers firmly put stock in the brilliant future for all individuals, a cheerful completion. However, it appears that if the story created following that bearing, the sentiment of solace would be stayed in readers’ mind. Be that as it may, the consummation of this composing really puts the feeling of torment on perusers and that appears to be considerably more great and significant. . Where is the setting of the story? What is the point at which the story happened (1850)? What do you think about this land around then? Who are the populace? Sketch their life/values? The Luck of Roaring Camp is set in a mining town at the hour of the California Gold Rush of 1850. Dash for unheard of wealth (1848-1855) pulled in many thousands from Latin America, Europe, Australia and China. By the start of 1849, expression of the Gold Rush had spread far and wide, and a staggering number of gold-searchers and vendors started to show up from for all intents and purposes each continent.The biggest gathering of forty-niners in 1849 was Americans, showing up by the several thousands overland over the landmass and along different cruising courses. It is evaluated that around 90,000 individuals showed up in California in 184 9. Of these, maybe 50,000 to 60,000 were Americans, and the rest were from different nations. By 1855, it is evaluated in any event 300,000 gold-searchers, traders, and different settlers had shown up in California from around the globe. In 1849 all in all of 10 million dollars worth for gold was mined.But the surge guaranteed that not many miners made their fortune, many got back with minimal more than they had begun with. Most diggers invested their free energy drinking and betting. Other than men, there were even ladies in the Gold Rush. They held different jobs including whores, single business people, wedded ladies, poor and rich ladies. The reasons they came fluctuated: some accompanied their spouses, declining to be abandoned to fight for themselves, some came in light of the fact that their husbands sent for them, and others came (singles and widows) for the experience and financial opportunities.On the path numerous individuals passed on from mishaps, cholera, fever, and heap different causes and numerous ladies became widows before seeing California. While in California, ladies were widows much of the time because of mining mishaps, illness, or mining questions of their spouses. Taking everything into account, the gold-searcher frequently confronted significant hardships on the life of looking for getting rich. Done by: Doan Thuy Linh †C57A †F. O. E Reference: 1. Wikipedia. com Step by step instructions to refer to The Luck of Roaring Camp, Papers

4 Scholarship Myths That Lead to Student Loans (And How to Overcome Them)

Paying for college is only getting more and more challenging over time. With tuition and costs increasing at a rate much higher than inflation, its nearly impossible for families to be able to afford it on their own especially with multiple students. This leads to students borrowing huge amounts of money and signing up for the student debt sentence.But what if I told you there is an alternative? What if I said that it was scholarships? For many families, they already have their arguments ready to go when I say this because they have heard the many myths that all of us have heard on why its impossible to actually secure scholarships.Today, I am going to bust some of those myths so that you can focus on finding debt-free money, including scholarships.Myth 1. You have to cure cancer in order to win a scholarship.Many students and parents believe that if they didnt cure cancer, there is no way they could compete for a scholarship. First, no one has cured cancer yet and there are billion s of dollars given away each year. Secondly, I promise you that I didnt cure cancer, but I still managed to get a free ride. That is because, while the competition is getting tougher and tougher each year, scholarship committees are still realistic (and very much amazed) at what a typical student accomplishes. Believing this myth will only hold you back from potential tens of thousands of dollars in debt-free money.How can you overcome this myth? Learn how to sell what you have accomplished! Cut yourself some slack I am sure you have done something selfless, impactful, genuine, caring, courageous, thought-provoking, and/or any other buzz word you could think of. Its just a matter of being able to sell it in an essay. Does this take time? Yes. But once you get it down, its a piece of delicious, fruitful (and I dont mean the food) cake.Myth 2. Each scholarship requires a new essay.Building off my latest point of once you get it down, its a piece of delicious, fruit cake, what I mean is that once you learn how to sell your accomplishments and build up your pocket full of solid essays, you can reuse them. They will require some tweaking here and there but I had a few great essays that I used over and over for at least 2-3 years. Yes, you can do that! Also, with my simple 3-step process on how to write creative, reusable essays, you can make these in as little as an hour.But beware: you wont want essays thrown in the trash! Check out our article on how to avoid that:Related article on writing strong essays:MAKE SCHOLARSHIP ESSAYS STAND OUT BY AVOIDING THESE 4 CLICHSYou can also grab your free essay writing guide to learn my 3-step essay-writing methodDownload our free 3-step SCHOLARSHIP ESSAY writing guide BELOWMyth 3. You dont need someone else to proofread your essay.Writing essays isnt always easy. Proofreading them can be even harder especially if youve been staring at it for a few hours. Its easy to overlook mistakes, typos, missing words, etc. when you can pretty much recite it from memory at this point. The only way around this is to have someone else take a look. It doesnt have to be a professor or teacher (see my next point), but it should be someone who has experience in writing and that you trust. I was fortunate enough to have an excellent teacher that helped me even after I graduated high school (yes, you dont stop applying in high school which I cover more on in the free online workshop) but just make sure you have at least one other person take a look.Also, if you tweak an essay that has already been reviewed, this still applies! Actually, tweaking essays is the easiest way to create errors because while you may think it is one small change, it could misalign many different pieces of your essay.Myth 4. All teachers and professors are created equal.Last but not least, be careful who you have proofread your essay. While you may assume any teacher or professor can help, that unfortunately isnt always true. Try to find someone wh o has proofread scholarship essays before (and seen successes). A great way to go about this is to simply ask the teacher or professor if theyve ever proofread a scholarship essay as a general question. You dont have to say that you are applying, just scope out the situation. If they say no, you can kindly move on or ask them to take a look as a secondary resource. You should still try to find someone with experience in the area first.While I wish these were the only myths out there, they arent. I cover an additional 4 in my online 1-hour workshop. If you want to learn about the entire scholarship process including writing strong, creative and reuseable essays as well as the other myths, grab your spot today at thescholarshipsystem.com/free-webinarhf!Claim Your Spot to the Webinar Now! Jocelyn is a best-selling author, public speaker, and founder of The Scholarship System, an online platform to help students and families fund college with scholarships and other free money. To join h er free online workshop that was mentioned, grab your spot at https://thescholarshipsystem.com/free-webinarhf.Originally featured on The Huffington Post.Pin125RedditShareLeave a Comment

What is Affixation in English Grammar

In English grammar and morphology, affixation is the process of adding a morpheme—or affix—to a word to create either a different form of that word or a new word with a different meaning; affixation is the most  common way of making new words in English.   The two primary kinds of affixation are prefixation, the addition of a  prefix,  and suffixation, the addition of a suffix, while clusters of affixes can be used to form complex words. A large majority of new words in the English language today are either a result of blending—mashing two words or partial words together to form a new one—or affixation.   Uses of Affixes An affix is a word element of English grammar used to alter the meaning or form of a word and comes in the form of either a prefix or a suffix. Prefixes include examples like un-, self-, and re-, while suffixes come in the form of ending elements like -hood, -ing, or -ed.   While prefixes typically maintain the word class (such as noun, verb, or adjective) of the word its modifying, suffixes oftentimes change the form entirely, as is the case with exploration compared to explore or highlighter compared to highlight. Multiple Iterations You can use multiple iterations of the same affixation to modify a word like grandmother to mean an entirely different person—as in great-great-grandmother, who would be your mothers mothers mothers mother—or a re-re-re-make of a film, wherein this film would be the fourth iteration of its kind. The same can be applied to different prefixes and suffixes being used on the same word. For instance, the word nation means a country, but national means of a nation, nationalize means to make part of a nation, and denationalization means the process of making something no longer part of a nation. This can continue ad nauseam but becomes increasingly odd—especially in spoken rhetoric—the more affixes you use on the same base word. Affixation vs. Blending One form of word alteration and invention that is commonly mistaken for affixation is the process of blending words to form new ones, most notably present in the example of the marketing term cranapple, where people naturally assume the root word cran- from cranberry is being applied as an affix.   However, affixes must be able to be universally attached to other morphemes and still make sense. This is not the case with the cran- root, which is only seen attached to another morpheme in marketing examples of juices that also contain cranberry juice like crangrape and cranapple. Instead of being a stand-alone morpheme which conveys of cranberry, the suffix cran- can only make sense when applied to other juices and is therefore considered a blend of two reduced words (cranberry and apple). Though some words and prefixes can be both stand-alone morphemes or parts of blended words, meaning the phrases arent necessarily mutually exclusive, most often words that are products of blending do not contain any actual productive affixes.

The Current Future Of Human Resource - 1116 Words

There are three distinctive articles that discussed the future of Human Resource. Kwan the author of The Cornell HR review suggests: As companies continue to flourish in a global setting, the essence of work and managerial relationships will grow increasingly convoluted. Proposals will span across conventional functional and geographical divisions, magnifying the need for greater grasp of sharing and fraternization. With a higher premium placed on attaining pliability and suppleness, corporations that rely on strong intramural networks have been more prosperous at coordinating effectiveness and metamorphosis. From a talent management aspect, organizations will need to embrace a more network-centric technique to promote ascendancy†¦show more content†¦The most commonly used planning period of six months to one year focuses on short-range the immediate HR needs of an organization. Intermediate and long term forecasting are much more difficult processes. Intermediate-ra nge tactic proposal usually projects one to three years into the future, and long-range plans continues beyond three years (p.50). According to an article titled The HR Department of 2020: 6 Big Predictions( Osterhaus, 2013): Prediction 1: In-house HR will downsize and outsourcing will increase. Industry examiner Brian Sommer, the founder of TechVentive, profess an alter to miniature HR departments will be generated by new technologies and heightened employee contribution in HR processes. As he claims, â€Å"Many businesses are going to get a lot of capability done by better technology, more self-service and the employee doing a lot on their own. ( Osterhaus, 2013).† For example, employees will increasingly offer their own intelligence into self-service systems. Prediction 2: Strategic thinking will become in-house HR’s new core competence. More recently, an Economist Intelligence Unit report emphasized the need for C-suite administration to partner with HR to steer growth. In consolation of that, over half the specialists that he interviewed indicated that HR needs to enlarge its strategic advantage to the business–or else. Dr. Presser says, â€Å"This includes the ability to make accurate projections based on

Issues of Security and Privacy of Cloud Computing

Question: Discuss about theIssues of Security and Privacy of Cloud Computing. Answer: Introduction Cloud Computing is commonly known as the cloud and it is delivery of on-demand computing resources. This is an advanced technology and with this data and programs storage and access is done over internet not on local hard drive. Cloud is actually known as symbol of internet. In earlier days, hard drive was used to store data close to our computer and it can be accessed and used quickly by users. This is known as local storage and local computing. Everything that is required by user is close to him/her. But with local storage it is not possible for user to access data through internet or cloud. In this situation, cloud computing provides help to store data over network which can be accessed by anyone easily. Cloud applications have different applications such as SaaS, PaaS and IaaS. SaaS is Software as a Service which is run on unfriendly computers in cloud and these computers are owned and operated by others. PaaS cloud computing application support process of building and distributi ng cloud applications. There is no complexity in development and to manage cost of hardware, software and hosting components. Next application of cloud is Infrastructure as a service (IaaS) and it provides companies with computing resources including servers, networking, and storage and data center. In this way, this technology of cloud computing is considered beneficial for internet users. The purpose of making this report is to emphasize on security and privacy issues in cloud computing. Research on this topic is to build an understanding about information security. (Ibm.com, 2016) Challenges and Problems of Cloud Computing In field of security and privacy for confidential information, cloud computing also plays an important role. It is considered a secured technology for storing data over network database. But today various security and privacy attacks are implemented by hackers to violate security of cloud environment. Next segment of report is a about issues of security and privacy of cloud computing. (PCMag India, 2016) Security and Privacy Issues of Cloud Computing As we know that cloud computing has transformed the way of information technology but its issues of security and privacy are big barriers in this technology. There are number of security issues for cloud computing have seen those are related to network, databases, operating systems, resource scheduling transaction management and memory management. There are some essential areas of cloud computing where high level security is required to implement.( Technet.microsoft.com, 2016) These main areas are transit data security, authentication and authorization for users, applications and processes and cloud legal and regulatory issues and incident response. In cloud computing, for achieving security, traditional security parameters are used which are not so much beneficial for providing best security from vulnerable network attacks. There is no common cloud security standard and various additional challenges are associated with this. Some of cloud vendors implement their own proprietary stan dards and technologies that are required for security purposes. Both internal and external security standards are found in cloud computing. Following is the list of security and privacy issues of cloud computing. (Cepis.org, 2016) The main issue of cloud computing is treatment of information assets that resides in computing environments. Capability of different attackers to attack on cloud. All security risks those are associated with cloud and relevant thoughts of attacks and countermeasures. Risk factors of security of cloud. (Pearson, S. Yee, G, 2013) Besides these above listed issues of cloud computing, following are some classifications of security and privacy issues of cloud computing. Conventional Security Concerns Control Issues that are related to third party data. Availability Issues (Knorr, 2016) Traditional Security Issues These security issues are related to computer and network intrusions or attacks that are possible by moving data over cloud. In this case, it is possible to lock down information. The major concerning factors those come under this category are VM-Level Attacks, Cloud Service Providers Vulnerabilities and Phishing Cloud Provider. Third Party Control Related Issues The legal implications of applications and data are held by third party and these are complex and sometimes not easy to understand. When data is hold by third party then there is lack of control and transparency. There are various security and privacy issues exist those prompt companies to void these issues by building cloud framework. Third party control related issues consist of due diligence, auditability and contractual obligations. Availability Issues This concern is related to critical applications and data. Under this category some essential security and privacy issues are included such as maintenance of uptime, prevention from denial of service attacks and surety of robustness of computational integrity. These are some essential issues that are found in cloud computing environment by users. The threats of cloud computing are also come under cloud computing and in next segment of this report, we will emphasize on cloud security threats. Confidentiality Threat of confidentiality of information in cloud computing is a big threat. Both internal and external threats of confidentiality have become problems for business organizations. Internal threats of insiders, access customer data that is held within cloud. In different applications of cloud such as in SaaS, customers of cloud and administrators can be considered as insiders, in PaaS developers of applications and test environment managers are insiders and in IaaS, third party platform consultants are insiders. These insiders can perform malicious activities to violate confidentiality of cloud environment. Cloud providers consists of large amount of confidential data such as credit card information, personal information and sensitive government information and intellectual property etc. and to collect this information, attackers conduct vulnerable attacks. Threats of hardware attack, social engineering and supply chain attacks are common external confidential attack in cloud environm ent. Next cloud threat is data leakage and this data threat is concerned with failure of access of security rights in case of multiple domains and physical transport systems that are required for backups and cloud data. Integrity Integrity is related to verification that information is accessed by authorized users only. The violation of integrity is a big security threat for cloud users. This violation of integrity occurs due to incorrect security parameters and incorrect configuration of virtual machines and hypervisors. This is happened in case of data segregation. On other side, in case of user access, threat of loss of integrity is also high. This is happened due to poor identity and access management procedures. (Technet.microsoft.com, 2016) Availability Availability means information should be available to all authorized users, any unauthorized user must not be able to access this information. But in cloud environment, this is a bug threat or issue that is faced by users. The threats in availability of information in case of cloud environment occurs due to change in management. Change management actually introduces negative effects and this is happened due to software and hardware changes to existing cloud services. Besides this, change management, denial of service is also a big threat for availability of data. Due to this threat, attacker attacks on server with malware and all computers those are connected with server may not access information that is stored into it. Relevant Technologies and its Applications To handle above discussed issues of cloud computing there is requirement to use some essential technologies for its mitigation and these technologies include use of firewall, anti-virus and advanced network monitoring systems. The major application areas of these are web applications, software solutions and cloud based databases etc. Issue that is not Discussed in Forum The main issue that is not discussed in this report is why cloud platforms are hacked and encountered these above discussed issues. This is an important topic to discuss here in this report. (Pearson, S. Yee, 2013) Impact of Issues on Real World These are some essential threats that are faced by users of cloud computing and these all threats are serious and may cause vulnerable results for cloud users worldwide. Every cloud user or developer must have awareness about these threats. These threats are big barriers in usage of cloud computing. Actually these all are weak points of security and privacy of cloud environment. These above discussed all threats and issues of cloud must be mitigated, otherwise it may cause harmful impact on storage data into cloud database. It is responsibility of cloud providers and developers to reduce impacts of these threats and issues of cloud computing. (SearchCloudComputing, 2016) Lesson Learnt from above Discussion After this whole discussion, we can say that cloud computing is a powerful platform, but due to its security and privacy issues, above discussed threats are faced. In this case, to mitigate this problem, developers of cloud framework and cloud service providers should make strategies or solutions. Otherwise, in future, this problem can be increased and will become difficult to control. Today most of the business organizations are based on cloud platform and they want improvement in security and privacy of their data that is available on network database. Advanced security tools and techniques must be used by developers to control security and privacy attacks on cloud environment. (Hamlen, K., Kantarcioglu, M., Khan, L., Thuraisingham, 2010) References Ibm.com. (2016). IBM - What is cloud computing?. Retrieved 21 September 2016, from https://www.ibm.com/cloud-computing/what-is-cloud-computing PCMag India. (2016). What Is Cloud Computing?. Retrieved 21 September 2016, from https://in.pcmag.com/networking-communications-software/38970/feature/what-is-cloud-computing Cepis.org. (2016). Council of European Professional Informatics Societies - Cloud Computing Security and Privacy Issues. Retrieved 21 September 2016, from https://www.cepis.org/index.jsp?p=641n=825a=4758 Pearson, S. Yee, G. (2013). Privacy and security for cloud computing. London: Springer. Business in the cloud: what every business needs to know about cloud computing. (2011). Choice Reviews Online, 48(08), 48-4574-48-4574. https://dx.doi.org/10.5860/choice.48-4574 Knorr, E. (2016). What cloud computing really means. InfoWorld. Retrieved 22 September 2016, from https://www.infoworld.com/article/2683784/cloud-computing/what-cloud-computing-really-means.html Cloud computing - A simple introduction. (2016). Explain that Stuff. Retrieved 22 September 2016, from https://www.explainthatstuff.com/cloud-computing-introduction.html SearchCloudComputing.(2016). Security issues in cloud computing. (2016). Retrieved 22 September 2016, from https://searchcloudcomputing.techtarget.com/tutorial/Security-issues-in-cloud-computing Technet.microsoft.com. (2016). Cloud Computing: Privacy, confidentiality and the cloud | TechNet Magazine. Retrieved 22 September 2016, from https://technet.microsoft.com/en-us/magazine/dn235775.aspx Sciencedirect.com. (2016). Privacy and security issues in cloud computing: The role of institutions and institutional evolution. Retrieved 22 September 2016, from https://www.sciencedirect.com/science/article/pii/S0308596112000717 Pearson, S. Yee, G. (2013). Privacy and security for cloud computing. London: Springer. Hamlen, K., Kantarcioglu, M., Khan, L., Thuraisingham, B. (2010). Security Issues for Cloud Computing. International Journal Of Information Security And Privacy, 4(2), 36-48. https://dx.doi.org/10.4018/jisp.2010040103

These other packet provides information free essay sample

Nmap done tells you how many IP addresses were scanned and how long it took 8. How many total IP hosts (not counting Cisco device interfaces) did Zenmap GUI (Nmap) find on the network? 5 IP host on the network 9. Based on your Nmap scan results and initial reconnaissance and probing, what next steps would you perform on the VSCL target machines? Use the file transfer buttons to download the Lab #1 LMAP scan. xml and Lab #1 topology fisheye chart. pdf Soft copy of the Zenmap GUI Intense Scan report in XML format . xml Topology fisheye bubble chart in PDF format Perform a Vulnerability Assessment Scan Using Nessus This lab demonstrates the first three steps in the hacking process that is typically performed when conducting ethical hacking or penetration testing. The first step in the hacking process is to perform an IP host discovery and port/services scan (Step 1 : Reconnaissance and Probing) on a targeted IP subnetwork using ZenMap GUI (Nmap) security scanning software. We will write a custom essay sample on These other packet provides information or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The second step in the hacking process is to perform a vulnerability assessment scan (Step 2: Scanning) on the targeted IP subnetwork using [emailprotected] vulnerability assessment scanning software. Finally, the third step in the hacking process (Step 3: Enumeration) is to identify information pertinent to the vulnerabilities found to exploit the vulnerability. 1 . What is the application Zenmap GUI typically used for? Describe a scenario in which you would use this type of application. This application is used to perform an intense scan of all 36 test scripts using the profile selection or you can Just select a specific IP address using the Target selection. I would use this application to determine the vulnerability of my computer by completing an assessment scan of my ntire system. 2. Which application is used for Step 2 in the hacking process to perform a vulnerability assessment scan? Nmap-Zenmap GUI 3. What must you obtain before you begin the ethical hacking process or penetration test on a live production network, even before performing the reconnaissance step? Create a custom Security Policy 4. What is a CVE listing? Who hosts and who sponsors the CVE database listing website? CVE listing is standardized identifiers for common computer vulnerabilities and exposures. Cybersecurity and Communications at the U. S. Department of Homeland Security, the MITRE Corporation 5. Can Zenmap GUI detect which operating systems are present on IP servers and workstations? Which option includes that scan? Yes, service info: OS: Linux 6. If you have scanned a live host and detected that it is running Windows XP workstation OS, how would you use this information for performing a Nessus vulnerability assessment scan? I would know that would be able to perform this scan 7. Once a vulnerability is identified by Nessus, where can you check for more information regarding the identified vulnerability, exploits, and the risk mitigation solution? Ports/Protocols, 443/tcp, Plugin Name: Service Detection 8. What is the major difference between Zenmap GUI and Nessus? Nessus scans for vulnerabilitys and Zenmap GUI is used to map network host within an open port. 9. Why do you need to run both Zenmap GUI and Nessus to perform the first three steps of the hacking process? The Zenmap has already run an intense scan on the 254 IP address to map out the network which makes Nessus able to find the vulnerability located within the 254 IP address. Zenmap GUI scan report in soft copy with your notes on what you found Nessus vulnerability scan report in HTML soft copy

Speech recognition technology essays

Speech recognition technology essays Good morning! I quickly open my eyes and look around to see who has the nerve to burst into my dorm room at 6:30 in the morning. Nobody there. Please wake up! I now remember that my computers new alarm clock was set to awake me for my early morning chemistry lab. As the current weather forecast is dictated to me in a female voice, I stagger over to my computer and tell it to be quiet. While I start the coffee machine, I ponder to myself if installing that speech technology program was worth it. Speech technology has emerged and advanced in the past five years. It ranges from microwaves that tell you when your food is finished, to computers that type and perform functions based on the users voice commands. The technology first did not catch on to public appeal because it did not work very well; however, this feature has been creeping into more and more consumer products as it has improved. I was first introduced to speech technology when I purchased my Samsung cellular phone about two years ago. The first feature I wanted to try out was the voice dial option. The phone was advertised to call the number of a person or place you speak into the phone. I anxiously navigated through the menus to set up the phone numbers that I would call simply by speaking my friends names. Please say the name, prompts the phone. I respond with Evan, and then it says Please enter the number. So I punch in the number. Subsequently, I carry out this process for my other phone numbers. It didnt take all that long and was quite user friendly. Now, whenever I flip open my phone I am greeted with Who would you like to call? All I have to do now is say the name of the person I want to talk to. At least that is what I had hoped. The voice dial option was a great new feature; however it didnt always work as expected and called the incorre...

Essay Questions Example | Topics and Well Written Essays - 2000 words - 1

Questions - Essay Example For example, in deductive explanation, if God is good, and murder is bad, then murders are not Godly. A probabilistic explanation example is that if it rains every 3 days a week in June, it is likely that June will have only 10 rainy days. 4. The aims of science are to generate knowledge, allow critique, analysis and explanation of claims of a body of knowledge. Science also aims to encourage logical predictions and understanding of phenomena. 5. In prediction, knowledge is sought based on previous trends. Unlike explanation, prediction does not delve into systematic analysis of precedent factors that affect the process of body of knowledge. That way, it is reverse process of explanation. 6. In Verstehen tradition claims that the understanding of social sciences must be analyzed through the prism of human behavior subjectively. On the other hand, predictive understanding argues that logical conclusions can be drawn objectively without approach social study subjectively. 7. In order for knowledge in general and scientific methodology to be intersubjective, there has to be transmissibility between the two approaches used in gaining knowledge. That is to mean that either can inform the other owing to an assumption that their methodology remains irreproachable, e.g. both being self-critical and highly analytical so that their conclusions are reliable. 8. What the authors term â€Å"scientific revolution† is a paradigm that transforms developments abruptly rather than gradually, ideas that related to normal science. Such paradigm transforms the existing body of knowledge. 9. Kuhn’s descriptive view of science is that a rival paradigm that introduces transformation is the dominant one whereas Popper’s prescriptive theory suggests that all paradigms should be acceptable as equal without assigning them superiority statuses. 2. Conceptual definitions are those whose major aim is to

Contribution of organizational learning to contemporary understandings Essay

Contribution of organizational learning to contemporary understandings of workplace practices - Essay Example Critics such as Sommerlad and Stern believe that the notion of learning within workplace has acquired saliency and visibility.This is primarily because as it connects at the stage of new thinking process. This thinking process is concerned on the process of learning about the modern enterprise, the alteration of nature work and new systems of knowledge. It is understood that the process of workplace practices is moving through the period of social, economic and political change. The prime purpose of the report is to present vivid explanation about the significance of organization learning towards understanding the workplace performs. Furthermore, examples are provided to illustrate the contribution of organization learning. The learning is viewed as interpretative device that cannot be divided amongst different scientific corrections and compartmentalized into different levels to create zones of inter-organization, organizational, group and individual learning processes. According to Gallacher and Reeve, the rapid advancement in technology and increase globalization has helped in the rise of skill and level of organizational workforce. The application of organizational learning process within workplace practices is viewed as flexible system of learning that enables employees working in an organization to engage in continuing professional development and consistent process of updating. In the world of globalization of acceleration of change, organization and approaching strategy are interconnected and execution of practical events is regarded as more effective activities. The idea of implementation of learning process within organization settings has been from the time of Industrial revolution. Since th e time of revolution, the crucial element of organizational operative process is training of employees in practical

Supply Chain Management at World Co. Ltd. Essay Example for Free

Supply Chain Management at World Co. Ltd. Essay Industry Facts: Specialty Retailing Sector -Women’s apparel industry in Japan seasonal industry products have short life cycles and extremely uncertain demand International Competition 3 Distribution Alternatives- company-owned stand alone stores, shops in fashion malls, and shops within department stores â€Å"store-within-a-store† Company Facts Operates in women’s apparel industry Company uses both wholesale and retail distribution methods Wholesale items are sold in other stores (retailers) Specialty store Private-label apparel (SPA) merchandise which includes the OZOC and Untitled brands was sold at stores owned by World Uses SPARCS, a business process system that allows World to monitor sales trends and focus on customer demand to maximize the efficiency of store support operations By late 1990’s World sold over 40 different brands in approximately 7,000 shops and stores World’s divisions are organized by product (brand name) 1998- World Employed 2,394 workers Net sales $1.8 billion and net income of $32million Company held a 3.5% share of the Japanese apparel market Major U.S. competitors are Gap Inc., The Limited Rooted in Domestic Manufacturing Brand Facts Targeted at female customers 25-29 years of age Annual Sales 2.2 million Introduce new collections twice annually (Spring-Summer; Fall-Winter) Introduced New Products Every 2 Weeks At the end of 1998, Untitled Brand could be Found in 110 Stores Qualitative Analysis Industry Analysis: Threats: Lack of Channel Power Uncertain Demand Seasonality Inventory Risk Opportunities Fewer Variations In Store Assortments Fast Changing Fashion Trends (Social) Low Inventory Levels International Manufacturing Company Analysis Strengths World’s High Inventory Turns (5/year) (Operations) 47% Gross Margin Keen Competitive Intelligence- reviewed competitor’s brands every six months (Marketing) Decentralized Merchandising Operations- each brand was autonomous (Operations/Marketing) High Responsiveness (Operations) Versatile Line Workers Recruited talented individuals who were unafraid of change and could motivate others (Management) Weaknesses Weak Pay-for-Performance System (Management) Low Brand Awareness Left over inventory is markdown 50% Quantitative Analysis: Wholesale net sales=(total net ales- net spa sales) ¥1,643,130,000 World’s private label spa brands  ¥250,000,000 Net Sales Of World Corporation ¥1,893,130,000 Cost of Sales  ¥983,610,000 Gross Profit Margin at 47%  ¥909,520,000 World’s private label Spa brandsNet Sales:  ¥250,000,000 SPA’s Cost of Goods sold:  ¥130,500,00 Purchases @ 97% ¥126,585,000 Other ¥ 3,415,000 G. M. of Spa brands at 47.8% of Sales Gross Margin:  ¥119,500,000 Cost of Goods sold include merchandise inventory, purchases, (purchase discounts), total merchandise available for sale Average Inventory for World Co., Limited and SPA Brands World Co., Limited Average Inventory = Cost of Goods sold =  ¥983,610,000 =  ¥$96,722,000 Inventory Turns 5 times a years SPA Brands Average Inventory = Cost of Goods sold =  ¥130,500,000 =  ¥15,294,117.65 Inventory Turns 8.5 times a years Cost to Retail Ratio Problems How to overcome Bargaining power of suppliers- retailers charge high prices for retail space Poor implementation of push (or pull) strategy Inventory Markdowns is second greatest variable expense accounting 24.10% of total Sales staff does not enter shipments into the computer upon receipt How to overcome compromised information accuracy during semi-annual sales

Essay --

Amy Kliewer Derby and Lawrence Biolit 13 Feb. 2014 Sec 1: What is Cancer The second leading cause of death is cancer(â€Å"Cancer:Questions†). Unfortunately one in three people will get cancer in their lives(â€Å"Cancer:Questions†). Cancer is uncontrolled cell division, and can start in any part of the body(â€Å"Cancer:Questions†). This is the reason for all 200 different types of cancers that plague today's society More than 550,000 people will die of cancer(â€Å"Cancer:Questions†). Metastasis, is the spread of a cancer to other parts of the body and tumors are abnormal masses of tissue, there are two types of tumors(â€Å"What Is†). Unlike cancerous tumors, Benign tumors are noncancerous (â€Å"What Is†). Benign tumors can form anywhere on the body but, they can not spread to other parts of the body(â€Å"Cancer:Questions†). As oppose to Benign tumors, Malignant tumors are cancerous and they can spread to different part of the bodys, hurting nearby tissues and organs(â€Å"Cancer:Questions†). There are lots of reason as to how you could get cancer some of which range from your age to your diet and daily Habits. Whe...

Questions on circe and book 10 of the Odyssey Essay

1. What has happened up to the point that Odysseus meets Circe but after he leaves the land of the Cyclops Polyphemus chases after Odysseus and his men throwing boulders that narrowly miss them. Odysseus tells Polyphemus his name and Polyphemus curses Odysseus. They go to Aeolia and gets given a bag of wind by Aeolus. Odysseus falls asleep and his men open the bag as they think it contains gold. The wind comes out and gets blown of course. The stop at the Lystragonians and three of his men get eaten by the cannibal giants. When arriving at Circe’s island, he splits the men into groups and sends half away to look for the house. His men get turned into pigs by Circe and Eurylochus returns to tell Odysseus. Odysseus then ventures alone to save his men. Hermes gave Odysseus a herb to eat and how to fight off Circe. 8/10 B) How is vividness and excitement shown when Circe tries to drug Odysseus â€Å"dark forebodings pursued† uses lighting imagery to show the eerie and ominous future Odysseus sees in the forest. â€Å"high Olympus† in reference to where Hermes is returning to would be exciting to an ancient audience to see Odysseus gaining the help of Gods. The adjective â€Å"beautiful† to describe the chair vividly shows the richness and elegance Circe has in her home. Odysseus drinks the drug â€Å"without suffering any magic effects† the anticipation of whether the drug would have worked or not shows Odysseus as being immune to her â€Å"evil† intent. He â€Å"snatched my keen sword† the verb â€Å"snatched† and â€Å"rushed† shows an element of surprise to Circe adding to the dramatic fighting scene. Circe â€Å"shrieks† adding to the imagery of senses by which the audience can vividly feel her fear. Circe â€Å"clasped my knees† to which this supplication adds excitement due to the fact that the magic herb has worked so well for Odysseus. Circe’s â€Å"words had wings† which vividly shows her elegance in the way she enchantingly speaks. Circe tells Odysseus that she â€Å"was always told to expect (him) here† which emphasises excitement to which he was meant to succeed and come to her. 18/20 C) Who should be admired the most, Circe or Calypso? Both Circe and Calypso play main roles as women in the Odyssey who help and hinder Odysseus, but their wit and mannerism should be admired. Circe first comes into the Odyssey at book 10. Circe is described as â€Å"evil in her heart† which instantly doesn’t make her a good or moral character. Circe also fails to show xenia to Odysseus as although she does offer him food, she asks multiple questions to him. An ancient audience would find the lack of xenia wrong and as an insult to Zeus. Similarly, she tries to manipulate him by complementing him. Simonides wrote about emotional women who use sex as a weapon, as well as this, Aristotle said that women would destroy men if left alone, women would destroy men. This is what Circe does by living alone and burning men into pigs. She turned Scylla into a rock out of jealous which leads into Simonides poem of women. Alternatively, when we first meet Circe (before she sees Odysseus) she is weaving and singing which would be what a women should be expected to do, there for meeting moral and social expectation of a woman. As she does live alone, the fact she can defend herself and try to stay alive (by supplicating herself) shows bravery against potential harm. However, she does hinder Odysseus’ journey by a year by their own will but does end up helping them with the correction direction to sail in. Book 5 has Odysseus on Ogygia with the sea nymph Calypso for 7 years. She holds him captive as he cries on the beach every day. Calypso uses her own selfish means to keep Odysseus on her island. When Hermes comes to the island, she also doesn’t show him xenia as she bombards him with questions. She fights and argues to keep Odysseus even though it is not permitted to marry him. Her own name means â€Å"concealment† in Greek. Calpyso, like Circe, is the image of a good woman as she is also found singing and weaving. Even though she could have kept Odysseus on the island, she helps him build a raft to leave. She is able to let go of her own feelings to aid Odysseus on his journey back to Ithaca. She also obeys Zeus’ orders. To an ancient audience and for moral reasoning, Circe is to be the most admired for she greatly aids Odysseus. In saying this, without the help of Hermes, Odysseus would have been killed thus Circe’s actions are intently evil. Calypso should be admired the most for without her letting Odysseus leave, his journey would have come to an end. Although she also needed Hermes to let him go, her intentions were pure. She loved Odysseus and they often has a physical relationship. She let him go and sacrificed her feelings to make him happy.

The Globalization Of Eating Disorders - 963 Words

Soundness in the Globalization of Eating Disorders In her essay, â€Å"The Globalization of Eating Disorders,† Susan Bordo informs her audience of the growing trends in eating disorders. Through her argument, Bordo illustrates the cruel identity of body-image distortion syndrome while she searches for a solution to the eating-disorder problem by looking to its birthplace in culture. Making use of several examples and scenarios, facts and statistics, and appeals to pathos and logos to construct her argument, Bordo shows a strong intent on eradicating the growing crisis in a reasonably sound argument. Bordo establishes herself as an authority figure through her extensive education in English and women’s studies. In her prolific writing career, Bordo often places emphasis on Western culture and its lasting viewpoints toward gender and the body, and in view of this, Bordo’s argument paves way to influence her audience through her credibility as an expert on women and the body images that plague them. As this authority figure, Bordo claims that the media and cultural influence have created a negative influence on humanity’s conceived standard of beauty, and as a result, have caused the spread of eating disorders. Employing her essay with key terms like body image, anorexia, and bulimia among other disorders, the essayist has written her piece rife with appeals to pathos to define them; the essay’s introduction carries her readers into a girl’s mind who struggles with her appearanceShow MoreRelatedGlobalization of Eating Disorders1382 Words   |  6 PagesThe Globalization of Eating Disorders Eating disorders are a huge problem across the nation. Some of these disorders include anorexia nervosa, bulimia-nervosa, binge eating, and body dysmorphic disorder. Anorexia is a disorder in which subject obsesses about food and how much they eat, while a Bulimic person eats an excessive amount of food, then purges. People affected by these disorders are obsessed with food however; they do not want the calories, so they eat as much as they can, then throw itRead MoreThe Globalization Of Eating Disorders1623 Words   |  7 PagesIn the writing â€Å"The Globalization of Eating Disorders† the author, Susan Bordo strongly uses the pathos appeal to influence the emotions of her audience. This writing speaks in detail about the growing issue of eating disorders, that is not only becoming an international issue; but as well I an issue that now affects young men and women alike. The way that this author uses this specific appeal is in a large part with very personal and relatable d ialogue, about the sufferings of young adults thatRead MoreAnalysis Of The Article The Globalization Of Eating Disorders 854 Words   |  4 Pages Eating Disorders In the essay â€Å"The Globalization of Eating Disorders† by Susan Bordo speaks about eating disorders. In society today appearance is a huge factor. Even though appearance has always been a major thing but now day’s people take it to the extreme when trying to have a certain body image. Now day’s people think beauty is whatever is on the outside, instead of the inside and the outside. 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As I was starting with the chapter six, the first point theRead MoreA New Kind Of Epidemic1476 Words   |  6 PagesChacin Chasity Drew English 1006-003 2 November 2014 A New Kind of Epidemic Globalization has created a strong tendency for young people around the world to follow a series of norms, generally attributed to Western civilizations, seeking to construct this idealized image of what beauty should be. Popular media, intentionally or not, has managed to successfully disseminate all over the globe. The Globalization of Eating Disorders written in 2003 by English professor and feminist philosopher Susan BordoRead MoreThe Westernization of Eastern Countries Is Increasing the Frequency and Severity of Eating Disorders2046 Words   |  8 PagesGlobalization is the integration of countries’ individual culture and traditions into one global, conglomerate culture. It leads to the spread of the dominant western culture into many eastern countries. Eating disorders are typically associated with industrialized countries primarily, but because of the globalization the economy and society they are appearing more and more in developing countries such as China and Korea. Eating disorders like Anorexia Nervosa and Bulimia Nervosa are fairly newRead MoreAmerican Fashion Industry in 21st Century1555 Words   |  7 Pagesaccompanied by exploitation of labor, eating disorder particularly in models and also the growth of counterfeit products. The international fashion industry portrays an ideal body type commonly known as the ‘size zero’ which women often attempt to attain. This leads them down the road of low self-esteem, starvation and even self-mutilation often resulting in eating disorders, health issues and even suicide. Models between the age of 18 and 24 practically give up eating and also resort to using drugs and

Women in World War Two - 636 Words

Women in World War Two â€Å"There was much more to women’s work during World War Two than: make, do, and mend. They built tanks, worked with rescue teams, and operated behind enemy lines†-Carol Harris. Have you ever thought that women could have such an important paper during a war? In 1939 to 1945 for many women, World War II brought not only sacrifices, but also a new style of life including more jobs, opportunities and the development of new skills. They were considered as America’s â€Å"secret weapon† by the government. Women were who allow getting over every challenge that was imposed by a devastating war. It is necessary to recognize that women during this period brought a legacy that produced major changes in social norms and work. In 1919, Lloyd George of England, Orlando of Italy, Clemenceau of France and Woodrow Wilson from the US met to discuss how Germany was to be made to pay for the damage caused in World War One, this produced the creation of the Treaty of Versailles. German people were unhappy with this. They couldn’t afford to pay the money because they were really poor after the war. The only solution they had was to choose a man who promise to rip up the treaty, his name was Adolf Hitler, the man who started the World War II, that generated an incredible change In many countries were United States was included. â€Å"This is a challenge to all American people but to none of them more directly than to its women. They hold the key position of national defense†Show MoreRelatedWomen During World War Two904 Words   |  4 PagesI think a lot of women said, Screw that noise. Cause they had a taste of freedom, they had a taste of making their own money, a taste of spending their own mo ney, making their own decisions. I think the beginning of the women s movement had its seeds right there in World War Two. President Franklin D. Roosevelt’s quote clearly illustrates the significance of women in the workforce during World War Two and the feelings women may have felt. World War II was crucial for women in the workforce becauseRead MoreHow the Two World Wars Altered the Independence of Women1095 Words   |  4 PagesBefore America was involved in the well-known wars of our time, many women were living their lives as oppressed housewives. With the changes that occurred throughout the two world wars, women had the chance to break out of their ordinary lifestyles and prove themselves worthy of something more than the housewife stereotype. Each world war brought on a different opportunity for the women of that time period. Women’s increasing roles during the two world wars were made apparent through their lifestylesRead MoreWorld War Two : Changing Women s Rights1859 Words   |  8 PagesWorld War Two – Changing Women’s Rights World War Two witnessed the beginning of a new era for Women’s Rights in Australia. 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As an effectRead More World War Two and Its Impact on the Role of American Women in Society1952 Words   |  8 Pages World War II opened a new chapter in the lives of Depression-weary Americans. The United States of America had an unusual importance in the war, it had been spared the physical destruction that had taken place throughout the world. Americans on the home front did not see the fighting and brutality as other countries experienced it. However, the events and changes on the home front due to the World War transformed America. One of the greatest conversions was that of the American woman. WomenRead MoreThe Role of Women During World War Two in Ontario, Canada, 1939-451242 Words   |  5 PagesWhile the men are away the women do not play. As men left to serve in World War Two, women were left to occupy the frontlines of the working force. They had to take over the industrial production for the war effort and the daily jobs that were not nearly as relevant to the war. In the essay I will be writing about the empty job positions left behind while men when to war across seas and the dem and that was put on women to fill the positions. Once women entered the working force there was a conflictRead MoreWomen s Land Army And Woman s Voluntary Services ( Wvs ) During World War Two996 Words   |  4 PagesWomen’s Land Army and Women’s voluntary Services (WVS) during World War Two. Angus Calder in his book ‘The People’s War: Britain 1939 – 1945’ and Kate Adie’s book ‘Corsets to Camouflage: Women and War both evaluate the work done by the Women’s Land Army and Women’s Voluntary Services. Whereas Ron Freethy’s book ‘Yorkshire: The Secret War 1939 – 1945’ just evaluates the work of the Land Army. Ron Freethy’s work on Yorkshire the secret war, writes about how with ‘young men being conscripted for theRead MoreCompare and Contrast Women at Home in Ww1 and Ww21249 Words   |  5 Pagesthe role of women at home during World War I and World War II. 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Abortion is a Choice Essay - 1258 Words

Abortion is a Choice Abortion is a very controversial issue that has been continually argued over the past few years and will continue for years to come. Before I get into the sides of abortion we must first define abortion. Abortion is the destruction of the fetus, or unborn child while the child is still in the mothers womb. There are two sides to this abortion topic. The Pro-life which is those who are against abortion altogether and the Pro-choice those who believe it is the womens right to choose if she wants to have an abortion. Personally, I am Pro-choice and I believe there are many clear-cut reasons to why I take this stand. In my paper I will support my position with facts about abortion, and areas where Pro-life imply that†¦show more content†¦But what if the fetus inside the mother isnt one of her own, what if the mother is the victim of the crime? I can totally understand how most victims would agree that it would be better to suffer through the pain of abortion than to have to li ve with a deformed child, or even worse a child that is not really their own as a result of rape or incest. Victims of these crimes also report feeling dirty, guilty, and sexually violated. But nothing is as bad as having to be constantly reminded of the traumatic experience you went through everyday you see your childs eyes as the man who raped you. Furthermore, your child too is a victim with no father, and having to live with the fact that he/she was unwillingly brought into the world out of force. Many women whom undergo abortion often suffer what is called Post Abortion Syndrome (PAS), a form of post-traumatic stress disorder with long-term chronic symptoms, which include nightmares, feelings of guilt, and attempted suicide. I believe this is mainly due to the high controversy shown on television, and words such as baby killer and death chambers. 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There are some prominent gatherings tha t champion either pro-choice or pro-life, and such associations raiseRead MoreAbortion : Abortion And Pro Choice1967 Words   |  8 PagesI. Introduction A. Abortion is the termination of a pregnancy before the time of extra-uterine viability. An abortion terminates the life of the embryo, (the fertilized egg before three months of growth) or the fetus after three months† (Pederson Watson, 2003). B. The practice of abortion is a controversial topic. It is one of the most discussed issue in politics mostly during the election season. Many candidate use this topic in their favor to gain support from the voters. C. It creates an invisibleRead MoreAbortion : A Pro Choice1125 Words   |  5 PagesJoshjuan West Dr. Kroski April 24, 2017 Opposite View Pro-Choice To this day, abortion has become one of the most controversial topics across america. The biggest reason for this is that people override their logical reasoning with their emotions on a regular basis. If a person can surpass their emotions or can remove them from the conversation, the more logical choice becomes so obviously clear. Pro-Choice is the fair choice to all women in America and across the world, considering it isRead MoreAbortion Is Not An Acceptable Choice1369 Words   |  6 PagesLee, Robert George, and Dr. Grazie Christie argue abortion is not an acceptable choice and should not even be a choice when an unborn baby is involved, senior editor of New Republic magazine Rebecca Traister counter argued abortions are about women’s choices and health not fetuses. Patrick Lee and Robert George are professors at respective Universities who have written many journals on controversial issues like abortion such as The Wrong of Abortion. Dr. Grazie Christie is a radi ologist who completesRead MoreAbortion Is The Right Choice1319 Words   |  6 Pages ABORTION RHETORICAL ANALYSIS ABSTRACT Abortion is one of the most controversial issue worldwide. According to anti-abortionist people, there are people who tend to make â€Å"bad choices† look good when trying to decide what would be the best decision to an unwanted pregnancy. Both the Pro-Abortion and Pro-Life are being discussed from two different perspectives towards abortion. Anti-Abortionist people disagree with abortion due to their own beliefs. On the other hand, people believe womenRead MoreThe Right And Choice Of Abortion1640 Words   |  7 PagesYonathan D Nieto Villegas Mr. Fons English 2B May 19, 2017 The Right to Life or Choice The decision to end the life of someone without their own consent has caused great disruption among Americans. 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In actuality, the range of women convinced toRead MoreIs Abortion Not The Right Choice?856 Words   |  4 PagesOver one hundred potential complications have been associated with induced abortion. â€Å"Minor† complications include: minor infections, bleeding, fevers, chronic abdominal pain, gastro-intestinal disturbances, vomiting, and Rh sensitization. The nine most common â€Å"major† complications which are infection, excessive bleeding, embolism, ripping or perforation of the uterus, anesthesia complications, convulsions, hemorrhage, cervic al injury, and endotoxic shock Many women believe this is the only way

Valuation of Bmw Free Essays

Valuation BMW Group | BUSM31 – Strategic Financial Management| 2010-10-27| Group 14| | | Tutor: Authors: Mans KjellssonDaniel Hedevag Jonas Karlsson Mathias Ljungberg Jakob Tuvehjelm Background BMW is one of the ten largest automobile manufacturers in the world, with an annual production of 1. 3 million cars (2009). It is furthermore one of the leading manufacturers in the premium car segment. We will write a custom essay sample on Valuation of Bmw or any similar topic only for you Order Now BMW Group brand portfolio includes in addition to the BMW brand itself the Mini and Rolls Royce motorcars. The Mini brand is a remain from 1994 when BMW bought Rover and Rolls Royce was acquired in 1998 after a few years of engine cooperation.Besides the production of automobiles BMW is a well respected producer of motorcycles, with a production of 87. 000 units in 2009. Business units sectioning In our opinion BMW is a company which operates within two different business units; manufacturing and financial services. These units differ from each other and affect the value drivers differently. To get a fair valuation for BMW we have therefore chosen to make three different valuations, the third one being eliminations which represents the intra group transactions between the two business units.Regarding motorcycles, we have chosen to include them in the business unit we call manufacturing. For BMW, the sales of motorcycles contributed to 2,1% of annual turnover in 2009 which in itself does not constitute a large proportion of the annual turnover. It is our opinion that there are synergies in demand as well as revenues and costs that justifies including the valuation of the motorcycle part within the sales of cars and that it therefore is no need for a separate valuation of the motorcycles. Diagram 1 Sales of cars and motorcycles, Source: BMW Annual Report 2002-2009 Historical performanceWe have chosen to compare key figures for BMW, Diagram 2: BMW cars sales in different markets. Source: BMW Annual Report 2003-2009 Daimler, Volkswagen and Toyota collected from Morningstar. In our opinion, the most comparable competitor is Daimler, which includes the brands Mercedes, Smart and Maybach. Daimler produced 1,055 million cars in 2009 and has the majority of its factories in Germany, just like BMW. Further, Mercedes is one of the main competitors of BMW with a strong brand i n the premium car segment while smart is a competitor to Mini. The following chart describes the sales development for BMW within the last seven years.Worth noticing is how the sales peaked in 2007 with 1,5 million cars sold and how it has declined in overall numbers since then mostly due to declines in sales in Europe and America. The only market where sales have increased since the financial crisis is Asia and especially China and India. BMW can be divided into subgroups that represent different segments within the car industry. There are primarily two different series that represents the largest part of the automobile manufacturers sales. The BMW 3 series is the worldwide leader within its segment of middle class cars and competes with cars like Audi A4 and Mercedes C class.This is the cash cow for BMW and generates almost 40% of the total Revenues. The larger 5 series competes with cars like Audi A6 and Mercedes E-class. Comparing the Revenue Growth, Toyota and BMW excels, although Toyota have a major decline in revenue growth in 2009, whereas BMW and Volkswagen at least manages to decline sales by less than 10 percent. The fact that BMW with the highest percentage of premium cars sold has the lowest decline in annual turnover shows strength towards its competitors. Revenue Growth (total)| 2004| 2005| 2006| 2007| 2008| 2009| BMW| 6,77%| 5,24%| 5,02%| 14,32%| -5,04%| -4,73%|Daimler| 4,11%| 6,15%| 0,96%| -34,56%| -3,06%| -17,99%| Volkswagen| 0,62%| 7,09%| 10,08%| 3,84%| 4,51%| -7,58%| Toyota| 11,32%| 8,54%| 14,36%| 13,36%| 9,04%| -21,40%| When assessing the different key numbers for the operating margin (OM) BMW remained high and steady at around 8% until 2008. Worth noticing is how Toyota outperforms most competitors until 2009 when they instead showed the poorest operating margin. For all compared companies, 2009 is the worst year and only VW and BMW are able to generate a positive OM. Operating Margin| 2004| 2005| 2006| 2007| 2008| 2009| BMW| 8,4%| 8,1%| 8,3%| 7,5%| 1,7%| 0,6%|Daimler| 2,7%| 1,5%| 1,4%| 7,9%| 5,4%| -1,9%| Volkswagen| 1,8%| 2,9%| 1,9%| 5,6%| 5,6%| 1,8%| Toyota| 9,6%| 9,0%| 8,9%| 9,3%| 8,6%| -2,2%| When comparing the Inventory Turnover, Toyota is outstanding in its performance just as known to be. BMW had the second highest inventory turnover in 2009, which has improved continuously throughout the measured time (worst in 2004). For Daimler and Volkswagen the trend is instead negative. Inventory Turnover| 2004| 2005| 2006| 2007| 2008| 2009| BMW| 5,60| 5,54| 5,65| 6,20| 6,06| 6,55| Daimler| 7,22| 6,86| 8,80| 4,73| 7,82| 4,41| Volkswagen| 6,80| 6,86| 7,26| 7,00| 6,07| 5,74|Toyota| 13,14| 12,51| 11,62| 11,21| 11,82| 11,28| The cash-conversion cycle within the industry is extremely volatile. Toyota, known for its excellent logistics, has been able to outperform most competitors. For BMW the figure is bleak although Daimler is in serious trouble with 117 days in its conversion cycle. Cash-conversion-cycle| 2004| 2005| 2006| 2007| 2008| 2009| BMW| 47,20| 46,46| 45,63| 44,60| 52,18| 47,82| Daimler| 28,28| 30,14| 30,51| 82,19| 132,12| 117,78| Volkswagen| 40,44| 39,02| 35,45| 36,09| 34,36| 44,22| Toyota| 16,87| 16,45| 50,54| 49,04| 21,54| 28,18|A part of the cash-conversion cycle is th e receivables turnover, which indicates that BMW is performing well when it comes to collecting debt and efficiently using its assets. Once again Daimler shows worrying figures. Recievables Turnover| 2004| 2005| 2006| 2007| 2008| 2009| BMW| 21,50| 23,31| 22,31| 22,73| 21,38| 24,35| Daimler| 21,80| 20,66| 20,25| 6,62| 4,06| 5,30| Volkswagen| 16,39| 17,33| 19,36| 20,28| 19,52| 18,04| Toyota| 11,49| 11,85| 5,94| 6,37| 12,89| 12,01| In conclusion BMW stands strong when benchmarking towards their main competitors.The high ROIC reveals that BMW historically has utilized its Invested Capital successfully, hence been able to create shareholder value since the WACC in the meantime has remained low. ROIC| 2004| 2005| 2006| 2007| 2008| 2009| BMW| 13,20%| 12,98%| 15,89%| 15,30%| 1,54%| 1,02%| Daimler| 2,24%| 2,51%| 2,80%| 3,97%| 1,36%| -3,36%| Volkswagen| 0,79%| 1,31%| 3,21%| 4,69%| 7,22%| 0,87%| Toyota| 7,71%| 7,07%| 7,15%| 7,31%| 7,13%| -1,88%| Porters five forces In order to assess the competition and profitability within the industry we have chosen to use the five forces model developed by Michael Porter.Our five forces analysis primarily set sights on the forces a ffecting the car industry and will not be further divided between different segments of BMW Group. The bargaining power of suppliers As car manufacturers has become more and more global through mergers and acquisitions the trend for suppliers has followed, where a few actors have become more dominant by acquiring smaller suppliers. When manufacturers grow, the bargaining power of supplier’s decreases and a small supplier might be solely dependent on BMW.In several cases these suppliers have established local assembly units near the car manufacturer’s production facilities in order to deliver just-in-sequence to the manufacturer’s assembly line which makes them more dependent. The merged suppliers stand stronger, but BMW is still in a good position to push prices. BMW takes advantage of their role as a global company and can adapt to best buys of components. In order to cut costs car manufacturers tend to outsource more. With several suppliers BMW has established a close partnership in order to co-operate in development and production of components e. . outsourcing. The bargaining power of buyers differs dependent upon the definition of the buyer. It is our opinion that the customers of BMW are not the retailers but the end users. While the retailers and BMW are equally dependent upon each other, they are both reliant on the choice from the end user. While low-cost carmakers worry about getting played off against each other (price wars etc), premium manufacturers worry that the value added by their design and the perception of their brand in relation to other luxury car manufacturers is inferior.Hence, the bargaining power for the buyer increases when the perception of BMWs cars gets worse in relations to others. Financial crises, switching costs and availability of substitutes can also affect the customer’s choice. Companies, such as taxi companies, buying larger volumes have a greater bargaining power in terms of price. For BMW, it is crucial to keep the incentives for the buyer to buy their car, hence not differ in price too much. Despite the fact that BMW are dependent upon their buyers, it is important to remain equivalent in the treatment and not to back down in negotiations in order to avoid dilution of their brand.Price sensitivity The threat of substitute products is quite limited, at least if we consider the BMW as a car to use for transports from A to B. Within a foreseeable future the car will still be one of our most used ways of transportation. Prohibition of cars, congestions charges and improved public transports are together indications that the horrible traffic situations in many cities are increasing the buyer’s inclination towards substitutes. High speed trains and air traffic is also increasing and can be seen as an alternative to longer distance travels by cars.However, when considering buying new BMW, one does not choose between the BMW and public transportation, but instead between a BMW and a car from one of their automobile competitors. In a broad view ICT could substitute for a car. In some way ICT substitute has in some way decreased the demand for travelling, videoconferencing has in some cases made travelling unnecessary. ICT and videoconferencing substitutes for a physical meeting, which sometimes requires travels by car. There will still be needs for physical meetings, and quite often they require travels by car.Even if a meeting can be held online the participants will most likely still have a car. The threat of substitutes to BMW as a premium car would probably not come from ICT or public transportation, but from other car manufactures which could possibly enters the premium car segment. Volkswagen launched its Phaeton to directly compete with BMWs 7-series and Mercedes S-class. http://www. quickmba. com/strategy/porter. shtml Threat of new entrants. The capital costs required to get established in the car manufacturing industry is exceptionally high; hence the possibility for new entrants to the car manufacturing industry must be considered low.Economies of scale also weaken the preconditions of new entrants in comparison to their established competitors. A threat of existing car manufacturers entering the premium segment or new geographical areas is instead considered higher (primarily Chinese manufacturers). Since luxury brands are able to charge a premium due to reputation, quality and design built over time, the conditions deteriorate further for new entrants. When Volkswagen launched VW Phaeton in 2002 they tried to compete with BMWs 7-series and Mercedes-Benz S Class. However the status of the Volkswagen brand had difficulties to compete with the two classic status brands.Customer loyalty, distribution channels and governmental and legal barriers are other difficulties needed to be handled for new entrants. Rivalry Between Established Competitors (Industry Rivalry) As a result of Mamp;A in the 90? s most competing brands are part of larger automotive groups. Audi is for instance a part of Volkswagen, Mercedes of Chrysler and Lexus is the premium brand from Toyota. The huge globalized nature of the industry creates a distinctive rivalry that takes place at both group and company level. Worth to notice is that BMW is only the 13th largest automobile manufacturer in terms of number of cars produced. In a survey made by Millward Brown, BMW overtook the first place as the world’s most valuable automotive brand from Toyota in 2010. As a premium brand with a history of quality and design, BMW has an important advantage over many competitors. At the same time, BMW has a lot to defend while other brands that also symbolize good quality are eager to catch up. Living on past achievements is not possible in the long run and in order to keep the positive trend it is necessary for the company to continuously improve in order to meet customer requirements.In 2009, a total of 51 million cars were sold, out of which BMW sold 1,26 million (2,47%) which makes BMW the 13th largest producer of cars that year. The largest car manufacturers are Toyota, GM and Volkswagen, which together accounted for almost exactly 1/3 of total cars sold worldwide in 2009. Diagram 3: Cars sold in 2009, divided by manufacturer. Source: OICA correspondents survey 2009 The financial crisis has made the automobile manufacturers more reserved when it comes to mergers and acquisitions (which was the clear trend in the 90? s). The trend has instead moved towards cooperation’s between the rivals in order to cut costs.BMW has signed a contract to assist SAAB with smaller motors, rumors have circulated about cooperation’s with archrival Mercedes when it comes to Ramp;D and Manufacturing and there is an ongoing partnership with Fiat concerning parts for Mini and Alfa Romeo. In order to capture the possibilities within the emerging market in China, BMW and their Chinese partner Brilliance China Automotive have launched a joint venture to support sales of BMWs using financial services. Although some car manufacturers have closed down due to the crisis, the market is still heavily saturated.There is a constant threat of over capacity and customer requirements are increasing. Requirements on environmental friendliness are also greater than ever and come with increased costs. Production of cars has become more globalized as a result of demands of cost-efficiency, which has increased continuously over the recent years. For BMW, the struggle for survival is in our opinion no longer about cutting down production costs, but instead of quickly introducing cars with the newest technology while preserving and strengthening its key brands by maintaining high quality and unique design.Competitors are of course aiming to do the same. A belief in increased investments is supported by historical data that estimates periods of roughly 25-30 years with a rising investment ratio after a financial crisis. To understand the industry one must look how its structure is changing. For more than hundred years cars have be running on petrol. Now, a technological race is taking place between car manufacturers in order to get the best technique for their future electrical cars. As usual when the technique is new, the development costs are high. A Chevrolet Volt sells for $40. 000 but costs $75. 000 to produce.To some this might seem like bad business, but in reality this is a much-needed expense to prepare for the business of tomorrow. For BMW, the ongoing research has resulted in cars like MiniE, an electric car that currently is tested out on the streets by many users. Another major investment is the Megacity Vehicle, which is a larger electrical car not launched yet and promoted under its own brand but with obvious similarities to BMW. For the industry as a whole, there is a risk of customers holding on car purchases until a â€Å"price war† will start or until the technology is more favorable (most importantly an increase in battery lifetime).As a premium car manufacturer, BMW might be able to avoid a price war, but customers can also choose to ignore the brand and luxury for the benefit of new technology. Price differences may decline due to cooperation’s and unwillingness by customers to pay more than the high price of electrical cars from less prestigious brands. This may mean that the option between low cost and product differentiation may be eliminated. SWOT Strengths The fact that BMW is one of the world’s most respected premium car brands constitute strength in itself.BMW holds a strong, non-overlapping, brand portfolio which stretches from the small youthful Mini to the super premium Rolls Royce. BMW communicates German engineering excellence, luxury and driving pleasure (their slogan is: The Ultimate Driving Machine), they do it well and are therefore a highly respected car manufacturer. BMW are renowned for their excellent self developed engines, especially the six cylinders. Later years they have advanced in their development of smaller fuel efficient four cylinder engines, which are used primarily in their smaller 1 and 3 series cars.A majority of the BMW engines are produced in their Austrian Steyer plant. The motors are sold to a variety of buyers beyond BMW and recently BMW signed a contract for delivering four cylinder engines to the next generation of SAAB 9-3. Through BMWs innovative and forward-looking technical development they should possess the ability to develop competitive future green automobiles. BMW has as the overall leader of the Dow Jones Sustainability Index positioned themselves with sustainability as an integrated part of the company.BMW have further more an in-house financing division which they can use to hedge for prices of raw materials and currency hedges. Being a worldwide company with production in many countries they also possess the possibility to benefit from natural hedges. Weaknesses Although BMW is a large auto manufacturer, the economies of scale available to producers of a larger numerous of less expensive cars is not available to BMW. Being mainly based in Germany, production and development is costly and shifting production to lower cost countries carries a risk of deteriorating the BMW brand.With only two main markets (America and Europe), BMW is exposed to a higher risk than more geographically diversified competitors. With a high indebtedness, BMW is also exposed to risks concerning higher interest rates which are expected in the future. Opportunities As one of the world’s leading premium car manufacturers, BMW has the opportunity to embrace emerging markets. When the demographics change and growth potential is good BMW should be able to take a descent share of the market. As an example, the growing middleclass in India (accounting for almost 300 million people) are experiencing an increase in purchasing power and embraces more and more western buying habits. With growing middleclass (currently 80 million people) in China, this market is also lucrative. China is the world’s largest market for automobiles and BMW with its strong brand has positioned itself with strategic alliances in order to gain market shares from this opportunity. During recent years demand for financial services has increased and will likely continue to do so.BMW offers extensive financial services and an increase in demand provides a possibility to expand their Financial Services to further diversify, while supporting production. BMWs best opportunities lie within the exploitation of emerging markets, stronger green profiling and offering financial services. Threats The price of raw materials is quite volatile and could be a substantial threat to the profitability of BMW. Another major risk is currency fluctuations, however as a global actor BMW have the ability to benefit from financial hedging as well as natural hedging.Higher requirements on emissions could form at threat to BMWs larger models with higher consumptions; however with new technology BMW should be able to handle this. The recent economic recession affected BMWs primary markets, US and Europe the most, and a return would most definitely constitute a serious threat to BMWs revenue. Heavily dependent upon their good reputation, BMW constantly have to deal with risks of bad publicity and rumors which could deteriorate the brand status. Forecasting amp; Keys Forecasting Q3 amp; Q4 2010 Our forecast of revenue growth in 2010 is based on the reported first quarters and analyst’s forecasts.We believe that BMW will return to the sales levels previous to the crisis during the coming two years (in 2007 1,5 million cars were sold) because the future prospect of the world economy is looking brighter, which the automobile industry is highly correlated with. BMW delivered 700  000 vehicles during H1 and several analysts believe that sales would rise about 10 percent compared to 2009, which means an increase to 1,4 million cars. Even though that delivered cars rose with 13,1 % in H1 2010, compared to the same period last year, we chose to use an increase of 12 percent during the whole year of 2010.BMW would then return to revenue figures and sales figures of 2008, â‚ ¬ 50 203 million respective 1,436 million, which is â‚ ¬ 50  186 million respective 1,440 million in 2010. Analysts expect that BMW’s EBIT margin will exceed 5 percent in the segment of automobiles 2010. However, since we assume that COGS will return to a level of 2005-2007 of 75 % of revenue, depreciation will be stable at 20 % of revenue. SGamp;A will return at 9,5 % of revenue (an average of 2005-2009), Ramp;D expenses will increase to 4,0 % of revenue (increase from 3,0 % due to higher investments in electric cars), and the EBIT margin will be 7,5 %.In order to estimate fiscal year 2010, we tried to find seasonality between the different quarters; however we did not find any pattern. Thus, we used data from Q1 and Q2 and made a prediction over the whole year. The balance sheet for 2010 is based on H1’s balance sheet including the retained earnings from 2009. The balance sheet has the advantage that it mirrors the present book value of the firm. Revenue assumption Revenue growth between 2010 and 2012 is based on the assumption that BMW will return and surpass revenue levels before the economic crises in 2008.Over 30 analysts following the BMW stock back this assumption. They estimate average revenue (billion) 2010: â‚ ¬56  510, 2011: â‚ ¬ 64  541 and 2012: â‚ ¬64  412. We believe it is possible that the world economy in 2013, 5 years after the financial crises, will enter a new Kitchin cycle. The Swedish minister of finance, Anders Borg, believes that a crisis could occur in 2013, otherwise the business cycle lives on overtime. This assumption will decline revenue with 5% 2013 and keep the economy steady in 2014. At the same time as the revenues decline, we believe that the COGS increase, which was the case during 2008-2009.Thereafter, in 2015, an increase of 7% and two years of relatively stable growth of 5%, somewhat better than G7 GDP growth and automobile industry. Auto manufacturers five years average return is 22,7%, this is an annual return of 4,5 %. We believe that BMW will outperform this average 2016-2017 and perform 4% in the steady state; this is very close to the history growth average of BMW during 1998-2009 of 3,95%. Recievables Turnover| E2010| E2011| E2012| E2013| E2014| E2015| World GDP| 4,77%| 0,42%| 4,54%| 4,59%| 4,62%| 4,62%| Advanced economies GDP| 2,71%| 2,17%| 2,64%| 2,59%| 2,51%| 2,41%| Major adv. conomies (G7) GDP| 2,51%| 2,04%| 2,54%| 2,44%| 2,33%| 2,20%| BMW revenue| Historical growth average 1998-2009: 3,95%| – Assumptions Keys / valuedrivers kapitalstruktur Cost of capi tal 1. Assumptions amp; Calculations Leases We have assumed that the leasing brought up on BMW’s balance sheet is the leasing when BMW acts as the lessor. We have therefore chosen to capitalize BMW’s leasing, when acting as a lessee (found in notes). The asset life is set to 15 years as the leases includes items such as machinery and buildings, and therefore should have a longer asset life than Lim, Mann and Mihov’s recommendation of 11 years.When later forecasting, leasing is forecasted as a percentage of revenue. Research amp; Development Research amp; Development, depreciation and amortization were included in COGS and we therefore chose to separate these in order to fairly valuate them. (SKRIVA OM VARFOR INTE capitalisera Ramp;D? ) Cost of Capital Since BMW is divided into three different business units with unequal capital structure and various betas we have chosen to calculate three different WACC’s. The Betas are calculated through five year monthly stock returns versus MSCI World index. These Betas are then unlevered by dividing them by each company’s D/E ratio. equity=? unlevered1+DebtEquity Then we calculated an average unlevered industry Beta which then was weighted to each company’s D/E ratio to obtain an industry adjusted company Beta. ?unlevered=? equity1+DebtEquity The risk free rate is the same for all three units and is determined by using a 10-year German Eurobond which offers high liquidity and low credit risk in the same period as our forecast. Estimating the market risk premium, the difference between the markets expected return and risk free rate, is difficult to assess since the expected return on the market is unobservable.We have chosen a market risk premium of 5% for all units based on historical data. CAPM| Group| Manufactoring| Financial Services| Eliminations| Risk-free rate| 2,25%| 2,25%| 2,25%| 2,25%| Beta| 1,386| 0,693| 1,470| 1,405| Market risk premium| 5%| 5%| 5%| 5%| Cost of equity| 9,18%| 5,71%| 9,60%| 9,28%| Furthermore, w e have used a tax rate of 30,2 % during the entire analysis since the overall corporate tax rate are 30,2 % in Germany. Since the tax rate for companies outside of Germany vary from 12,5% to 46,9% this number is a fairly good average which also complies with the tax rate during previous stable years. Further on the cost of capital was set by a BMW corporate bond which is due in 2018. The target capital structure for manufacturing was based on the capital structure for the entire company. According to Appendix X BMW Group has a structure of 68% debt, but since this includes financial services with a significant higher percentage debt, we have chosen to use a target capital structure of 65% for manufacturing. Since the capital structure of Financial Services has been relatively constant we have based the debt-equity ratio on the mean value.Considering eliminations, we have assumed that they have the same capital structure as the company as a whole. WACC| Group| Manufacturing| Financial Services| Eliminations| D/(D+E)| 32%| 35%| 23%| 32%| E/(D+E)| 68%| 65%| 77%| 68%| Tax| 30,2%| 30,2%| 30,2%| 30,2%| Rd| 5%| 5%| 5%| 5%| Re| 9,18%| 5,71%| 9,60%| 9,28%| WACC| 5,48%| 4,27%| 4,91%| 5,34%| Pitch Emerging markets: A few of the world’s largest countries by population are Brazil (191 million), China (1,335 billion), India (1,199 billion) and Indonesia (232 million).Estimations predict a radical growth in GDP per capita for these countries in the coming years, as shown in the chart below. We believe that the market for premium cars in those countries will increase with the growth in GDP. Recently, Volkswagen group announced that their revenue in India increased with 132% on the first 3 quarters of 2010 compared to the year before. The upper class in India accounts for about 1% of the population, and the new middle class constitutes about 20%. A reasonable assumption that 5% of the population in the above stated countries can afford a BMW, equals a potential market of 150 million potential buyers.In accordance with our predicted revenue growth, we have chosen to illustrate the origin of our growing sales. According to our predictions, Asia will become the major market for BMW within a few years. Further investments in these emerging markets, in order to generate a better position, will create higher sales volumes and profits. With new factories in India and China (one more is planned) and cooperation’s with retailers and joint-ventures, BMW has built a foundation upon which they can grow.As our competitive analysis has highlighted, electrical and hybrid cars will replace cars with internal combustion engines. Although estimations differ widely, a probable scenario is that electrical cars will be the leading technology within a 20-year period. China is expected to become the largest market for electrical cars and the government is subsidizing the development of new technology both in China and the U. S. A. China is expected to be the largest market for electric vehicles, with predictions suggesting more than 888,000 will be sold in the nation over the next five years. Sensitivity analysis Since the manufacturing unit represents more than 88 percent of BMW’s total revenue our sensitivity analysis is conducted on changes in that specific unit. Furthermore our analysis is performed mainly on the variables COGS, revenue and the WACC since these are the variables that are most important for the company’s stock price and thus the equity value. The two dimensional tables below show how increases in these variables affect the stock price. From the tables it can be seen that WACC and COGS has the most influence on the stock price. How to cite Valuation of Bmw, Papers