Machiavelli and Othellos Leadership Skills

Consider The Source

Consider The Source Should Academic Achievement Be a Primary Consideration for College Admission? If you need a similar essay feel free to  ask our writers for help! Of course, valedictorians attend Oxford, Cambridge, Columbia, Stanford and Harvard and Yale. And they probably should be there – they’ve earned it. But academic achievement isn’t enough to evaluate a person’s worthiness of anything,– especially admission into an institution of higher education. More should be considered when judging a soon-graduating high school student. There is more to a person than excellent, perfect grades. Academic achievement is just the tip of the iceberg when assessing a person’s credibility, their life experience and success potential, their value. Well-roundedness should be the primary consideration when a student is being assessed for admission into a particular college. Character, Drive, Work Ethic, and Foresight, and Leadership are the three components that comprise this quality – all combined with academic achievement as well, which is a given. For one, a major component of a well-rounded person is Character: Who they are, what they’ve been through, how they respond to problems and bad situations. In late February 2016, news surfaced that Charles Schwab CEO Walt Bettinger often takes job candidates to breakfast, secretly making sure the waiter gets his order wrong. He said it revealed deep down the kind of person the candidate is – how they responded to adversity and when things do not go their way. In essence, their Character. If it works for the CEO of a billion-dollar company, then it should be advantageous for a college’s admission counselor. Character rests under the umbrella of what it means to be a well-rounded person, which should be the primary consideration for admission into college. Also, there is Drive, Work Ethic and Foresight. When a person really wants something, anything, something that may take a long time to achieve, they will go to any depth to obtain it. It’s a rare quality for any individual to have, especially at a young age like 17 or 18. Any nerd can sit at home and study the books until the books rot and shrivel up with age. They do simply what they are supposed to do; great if they wish to be professional achievers. They do it in vain. A well-rounded person hits the books hard AND studies and reads to improve themselves and their knowledge of the world, a certain industry, finance, self-improvement. They spend their waking moments not simply completing assignments, but pursuing a dream – bettering themselves each and every day until they reach their dream. Characteristics like this should be what get people into college – of course, also, when it is combined with excellent grades and character to back it up – because it illustrates one more component of a well-rounded, excellent person. Lastly, leadership is a fundamental characteristic of a well-rounded person, as well. No follower ever became President of the United States of America, the CEO of an international, multi-billion dollar business, the Dean of an Ivy League school. Followers become drug addicts, convicts, and derelicts. Leaders are good people who have the rare ability to help others and lead them to something better, their goal, objective, and safety. Leaders reach people, gain their trust, and help them by being assertive, compassionate, helpful, honest and above all, selfless. One’s Leadership skills and motivations should be included when they are considered a well-rounded enough person for college admission. In conclusion, college admission is not an easy process. It takes a lot to get into the right schools. Maybe that’s how it should be. But of course, there is more to a person in addition to their academic achievement. There is Character, Drive, Work Ethic and Foresight – and one more very important feature of a well-rounded person: Leadership. Sadly, this is not always the case – as too many valedictorians, bookworms essentially, those who graduate the top of their class, are being chosen as the top choice of the best universities in the world. Sadly, the most successful people in the world did not even graduate or attend college. Just look at two college dropouts: billionaire Bill Gates and the late tech guru Steve Jobs; they surely weren’t valedictorian material in college, not in high school either. Of course, it could be argued that other characteristics constitute a well-rounded person. Nonetheless, college admission should be based solely on a person being as well rounded as possible.

Internal Analysis of Wall-Mart Case Study Example | Topics and Well Written Essays - 1500 words

Internal Analysis of Wall-Mart - Case Study Example The paper also details how Wal-Mart can guard against the internal weaknesses and avoid the external threats. Wal-Mart Stores is the number one retail store in the World in volume. The company has more than 7,250 stores," including about 975 discount stores, 2,800 combination discount and grocery stores (Wal-Mart Supercenters in the US and ASDA in the UK), and 590 warehouse stores (SAM'S CLUB)". (Hoovers. Com) The Company is the number one retail store in Canada and Mexico and owns 95 percent stakes in the largest Japanese retailer SEIYU. The company is operating in most parts of Asia, Europe and South America. The company has achieved a Turnover of $ 378,799 million for the fiscal year ended January 2008 employing about 2,100,000 people. In the area of management Wal-Mart has been a committed entity in respect of its responsibilities towards customers as well as communities. The corporate structure of Wal-Mart has three core values of respect for the individual, service to their customers, and striving for excellence. These values have enabled the company achieve the fete of the largest retailer of the world. The marketing strategy in the form of Every Day Low Price (EDLP) strategy has been found to be successful in enhancing the sales growth. The customer oriented approach is one other core value of the company. With ten different divisions of the company available in one place the customer can have a one stop shopping experience which is one of the core strengths of the company. On the financial aspects the company has shown consistent sales and profitability growth during the past years. The company has all its financial ratios indicating its financial strength. The stock price movements are yet another indication of the financial strength of the company. The company has strong and well oriented distribution networks, well equipped and mechanized distribution centers which provide an efficient supply chain management and enormous economies of scale in the operations of the company. The company employs the latest and most sophisticated information and communication technology which enables the company to operate with a clock like precision. Weaknesses The absence of a proper and formal mission statement is the fundamental weakness of the company. The company's mission statement does not provide the necessary definition of their business and does not also provide the direction for the employees. The company has not recognized diversity in the employment with few females in the top management and few minorities. This is a dent in the corporate image of the company. Non-unionization is another weakness of the company. The employees do not have a forum to raise their concerns and hence the employees lack bargaining power. On the marketing side the company has the biggest weakness of continuous expansion. The company has acquired the hatred of many social organizations in smaller towns across United Stated because of the adverse economic impact the company is creating on smaller towns and the trade within these towns. The major complaint in the operation of the store is the increased average time that an

Personnel Planning And Recruitment Essay Example | Topics and Well Written Essays - 500 words

Personnel Planning And Recruitment - Essay Example This method enables the better use of internal talent since an employee can be moved to a job at which he/she performs better. The downside is that appropriate candidates might just not be available for some vacancies internally therefore leading to placement of unsuitable individuals. Another is Promotions which involve an employee being moved to a higher ranking position. They are a source of motivation and encouragement to the workers. However, they may lead to conflict among the employees seeking for promotion to the vacancies available. External sources on the other hand have to be acquired from outside the organization. One example is placement agencies which are private firms conducting recruitment activities on behalf of organizations at a fee, the advantage of this is it assists organizations to acquire necessary competencies. They however increase the cost of recruitment. Another is press advertisement of vacancies in journals and newspapers. The main advantage of this meth od is its wide reach. It is however time consuming as well as costly (Tellis, 2004). Evaluation of Job Ads The jobs ads evaluated were posted on the internet. They all follow the principal of AIDA (Attention, Interest, Desire, and Action).

Winston Churchill Essay Example | Topics and Well Written Essays - 2000 words

Winston Churchill - Essay Example His thoughts and writings can be considered as an authority in the fields that he excelled in. At a glance Winston Churchill is a noted statesman, a known orator and strategist, a leader in different disciplines such as the British Army and a gifted writer of historical literature. The main purpose of the study undertaken is to be able to present the events in the life of Winston Churchill. This includes the achievements, teachings, struggles and the lessons that he made the people learn. All the pertinent data and information that can define him as a person are captured to be able to achieve an understanding of the life that he had led and the decisions that he had made. Winston Churchill was born in the Oxformshire, England, United Kingdom on the 30th of November 1874. He is the son of an English father, Lord Randolph Churchill and an American mother. He is of British nationality that made his contributions to the society until the 24th of January in 1965 when he died at the age of 90 at the Hyde Park, London in England. He is a descendant of the Spencer-Churchill lineage with George Spencer, the Duke of Marlborough, which is his ancestor and his father which is the son of the 7th Duke of Marlborough and also a politician. On the other hand, his mother, Jennie Jerome, the daughter of an American millionaire named Leonard Jerome. John Strange Spencer-Churchill is his only sibling (Frenz 1969). He was educated at the Harrow and Sandhurst. As a student he can be considered to not conform to the rules thus he is commonly reprimanded. Though this is the case it is the harrow School where he started his military career in 1888 when he joined the Harrow Ri fle Corps. He also studied in the Royal Military Academy which took him 3 admission tries to be able to be admitted but graduated raking 8th in class in December 1894. The said achievement earned him a position as Second Lieutenant in the 4th Queen's Own Hussars in 1895 (Frenz 1969). Upon further observation though, the young Winston Churchill excelled in a number of fields such as the Literary English and History. Even in sports the said leader is also a fencing champion. Although this is the case, his enthusiasm in studying is below average which can be related to the speech impediment that he possessed. The said difficulty in speaking had not been a hindrance to the achievements that he had accomplished in his career and his life. The said impediment is considered by some groups as stammering and some as lisping. Winston Churchill is married to Clementine Hozier in 1908 with 5 children namely Diana Churchill (1909), Randolph Spencer Churchill (1911), Sarah Churchill (1914), Marig old Frances Churchill (1918, four days after the end of WWI and died in 1921) and Mary Churchill (1922) (Frenz 1969; Mauter 1998). Winston Churchill excelled in a variety of fields, thus, he can be considered as one of the most prominent characters in modern United Kingdom and the English Region. The army career can be considered as one of the important contribution of W. Churchill on the basis of the fact that he had held essential positions through the short stay in the said discipline. He acquired the position of the Conservative Member of Parliament in the year 1900. In addition, he had been responsible to other essential roles in the Liberal and Conservative governments during the early decades of the century. During WWII, he became First Lord of the Admiralty which is a reappointment from 1911-15. In addition to the said roles, his military career also made him participate in different events. One of which is the battle in the Northwest Frontier with the Malakand Field

Evaluation Impact On Financial Operations Cadburys And Kraft Marketing Essay

Evaluation Impact On Financial Operations Cadburys And Kraft Marketing Essay Choosing the Topic After completion of all my fundamental papers in August 2010, I waited till the next session to decide to submit a research and analysis project for the Oxford Brooke University. The reason for such delay was the pressure to complete three professional papers in December session. This report is also important to me because I believe by having combination of both Profession qualification and a degree will uplift my career. To base my project on ACCA provided me with a list of 20 recommended topics to choose from. After reading through the list, the topic that immediately attracted my attention was topic 19 which was The financial and operational consequences of a merger between two organisations or of the acquisition of one organisation by another. What attracted me the most about this topic was that, it was all very relevant to my studies as I am thinking to pursue financial management after ACCA. I knew this topic will allow me to try out and learn the all important, analytical skills. Other reason to choose this topic was the much talked about acquisition of KRAFT and Cadbury therefore it encouraged me to choose this topic. Another reason was availability of the vast amount of information through the internet and press release because of recent release of Krafts recent fourth quarter in the month on February 2011. Choosing the organisation Once I chose my topic, I had to choose an organisation to base my research on. I chose Kraft and Cadbury for my analysis; it was an obvious choice as this was the acquisition that impelled me to select this topic. This was one of the most controversial and largest takeovers in the year of 2010. I believed the takeover by the 2nd Largest Food Giants in its industry would accomplish the objective I had in mind for the project. Aims Objectives The main objective of this report is to evaluate the consequences of the acquisition on the finance and operations aspect of KRAFT FOODS. The financial statements by themselves only provide the quantitative data which need to be analysed by drawn graphs. The main focus of this report, therefore, is as follows: To analyse the reasons for Kraft to make a strategic choice of acquiring Cadbury and whether it satisfy the strategic fit as claimed by the CEO of KRAFT FOODS in terms of financial and business operations. The second part of the research aims to analyse whether Kraft is on the track to achieve its targets it promised its stakeholders at the time of acquisition. Since financial information wasnt sufficient for my research, I need to review the strategic decisions made by Kraft for its subsidiary Cadbury after the acquisition along with the friction identified while integrating both business. The anticipated future of Cadbury under Kraft Group. In order to achieve the aims mentioned above, I have done qualitative analysis using SFE (Suitability, Feasibility Acceptability) and Ashridge model along with quantitative analysis using financial ratios and linking both to get an overall picture. THE ORGANISTAION Company Profile Kraft Kraft Foods is the worlds second largest food company headquartered in North Field, Illinois manufactures and market packaged food products, including biscuits, confectionery, beverages, cheese, convenient meals and various packaged and grocery products.( KRAFT FOODS INC, 2009)The business was formed by James L. Kraft and his four brothers who began by wholesaling door to door cheese business in Chicago. Kraft then achieved growth by merging with other companies and increases the size of the business by expanding more product lines.( Wikimedia Foundation,2011) Being listed on NYSE, Kraft now has approximately 127,000 employees worldwide. Kraft sells products to consumer in approximately 170 countries. At 31 December 2010, Kraft had operations in more than 75 countries and made products at 223 manufacturing and processing facilities worldwide. Kraft portfolio included eleven brands with annual revenues exceeding $1 billion each: Oreo, Nabisco and LU biscuits; Milka and Cadbury chocolates; Trident gum; Jacobs and Maxwell House coffees; Philadelphia cream cheeses; Kraft cheeses, dinners and dressings; and Oscar Mayer meats. Kraft portfolio included approximately 70 brands which each generate annual revenues of more than $100 million. (KRAFT FOODS INC, 2010) Cadbury Cadbury was a leading global independent business in the exciting world of confectionery, a large, growing, brand-led industry. With an outstanding portfolio of chocolate, gum and candy brands, the largest emerging markets business and a focused and experienced team, Cadbury is committed to its long-term vision to be the worlds biggest and best confectionery company. Cadbury operated in more than 60 countries with a workforce of 46000. (Cadbury, 2008) Cadbury made its beginning by opening one single shop by John Cadbury. As time progressed John Cadbury moved into the manufacturing of drinking chocolate and cocoa. Cadbury grew bigger through some organic growth and some mergers. During the first world war Cadbury started to achieve great success, its products were regarded as necessities and Cadbury were at their peak. Cadbury kept investing in technology, new factories and in new products to remain ahead of competition. With factories all over the world and a host of well known brand names it has become a household name in many countries. (Birminghamuk, (n.d.)) INFORMATION GATHERING Sources of Data Data can be collected for any research by the following ways: Primary Research: Under primary research new information is collected via interviews, survey or questionnaire etc; hence information is collected first hand. Secondary Research: Also known as Desk Research is gathered from information which has already been provided but may not be for the same purpose. Such information are easy to access and are my cheaper than carrying out primary research. Such information gathered should be analysed and screened properly so that it fits for the purpose. Kraft and Cadbury both being listed companies although listed in different countries were required to issue annual accounts for its stakeholders by Sarbanes Oxley and Companies House respective. These companies especially Kraft issued Interim Reports as per the stock list requirement. Therefore much of the quantitative and qualitative date was readily available for analysis. Hence I chose to use secondary data over primary. The only complication I faced apart from time pressure was obtaining latest financial information for Cadbury (2009 accounts). Fortunately Kraft public relation team co-operated and emailed me 2008 and 2009 Cadbury annual accounts on my request. The following are the sources of secondary information I used for my project: Annual and Interim Financial Accounts and Reports This is the main source I used for financial aspect of my business and to draw graphs. I had to use interim reports even to demonstrate impact of Cadbury acquisition on Kraft at each and every quarter due to complexity of the business. Krafts annual accounts were available to view and download on Krafts Investors Website. However Cadbury financial statement isnt easily available. Internet This is the source of limitless information; hence it took me a lot of time to extract information which was relative to the point. Firstly it provided me the qualitative information which was missing or less in the financial statement of both entities. Secondly it also provided me information from a third party or neutral point of view. Letters and Reports Under this source, I analyzed the documents sent by Kraft to Cadbury management or reports addressed to Kraft shareholder explaining them the strategic fit of Cadbury acquisition. These documents were available over the internet. Library I used study text published by Kaplan for ACCA to brush my skills and be of aid when I got confused during an analysis phase. Apart from my course books I visited local library for reference books. As I mentioned earlier I didnt had an opportunity to visit British Library for the access of database such as Datamonitor and Mintel. However I was able to get access to Euromonitor through internet and used it as a tool to aid understanding of the application of analytical tools regarding acquisition and both the entities. Data Collection Methods Its easy to collect data, but skills are required to make sense of data and using it for the purpose. It was a fiddly job to collect reliable authentic information to base my reports on. Any negligence on my behalf may cause me a failure in achieving the report objectives. I was cautious and took my time to read through all the information once before starting with my project. As this acquisition was of the biggest acquisition in the year 2010, too much was written by the newspapers and media about it. Reading about the merger in 2011 gave me this idea to do a project on Kraft and Cadbury, as Kraft were about to issue its fourth quarter results. I started my data collection by reading articles from local newspapers as well as papers or journal published in other counties. I viewed them retrospectively. The most prominent newspaper I viewed was Financial Times, Guardian, Reuters, Wall Street Journal and Economists. After I got a general idea behind the acquisition and critics claiming the acquisition as a failure. I downloaded the fourth quarter as well as annual report. I need to know what did CEO responded on the acquisition as it had been a year. Then I looked at financial data provided to support any statement by the CEO. Internet provided me great deal of help in my project. I type in the keywords such as Cadbury Kraft in etc at www.google.com . Find the relevant articles and making notes as well as bookmarks of the WebPages if I needed to read it again for qualitative part of my research. I even visited many libraries in my local areas; the librarian helped me by giving me advice on referencing as I had no idea on references. Unfortunately I couldnt make a trip to British Library to access database which could help me in my project. But I was pretty content with the amount of information I already collected to carry out my analysis. Referencing I have used the HARVARD REFERENCING SYSTEM for the referencing in my research and to aid readability, I have cited the source below the paragraph if the whole paragraphs were written based on the same single source. Acquisition for Kraft Pre Acquisition To systematic analyse the strategic choice by Kraft to acquire Cadbury, I will be using Johnson and Scholes framework (Suitability, Feasibility and Acceptability Model). (Wu, 2010) Suitability Kraft Foods Inc. being the second largest food company still looks for opportunities to grow and try to remain one of the market leaders in the industry and and to spread risk by a diversified portfolio. Kraft believes in rapid expansion by acquiring other businesses. Kraft adopted new strategy implemented by new CEO who believed low growth segment should be disposed of and adopt those strategies that will achieve rapid growth even by means of acquisition .Kraft will look for businesses that will build on its strengths and guide against its threats. Kraft has a successful track record of acquiring iconic brands and businesses and effectively using it for its expansion. We will be using one of the criteria of Ashridge model under suitability. Under Ashridge model we will be examining two criteria; whether Kraft has sufficient skills, resources and understanding of the Cadbury business and whether there are opportunities for helping to achieve critical success factors. (Steiner, 2009) Source: Euromonitor One key reason for Kraft to acquire Cadbury was to penetrate in those growing markets where Cadbury has good base such as China, India and Mexico. Brands such as Cadbury Dairy Milk dominated such markets by a vast length compared to its rivals. Cadbury did receive 40% of its revenue from fast growing emerging market. Cadburys acquisition of Adams played a vital role to increase their market share in Latin America. Cadbury has experienced 12% growth in revenue in emerging market over five years (EUROMONITOR, 2008) this can be beneficial for Kraft as it intends to use Cadbury s distribution network to sell its brands. (Cadbury, 2008) (Cadbury, 2009a) Kraft being aware of Cadbury s heritage and its strong confectionery business ranking and its iconic brands makes Cadbury globally number one in chocolate, gum and candy. By attaining all these eponymous brands Kraft will become a global powerhouse in snacks, confectionery and quick meals with exceptional portfolio of leading brands in the world. Hence will be one step closer in achieving organic growth objective. Feasibility Under feasibility we would evaluate Krafts position before acquisition in terms of internal resources of the organization this can even be connected to Ashridge s model criteria of possessing sufficient resource by Predator Company. Kraft being second largest business in its industry has huge cash reserve which reflects in its Cash flow Statements of 2008 and 2009 ($1.24 billion and 2.10 billion respectively). Buts its worth mentioning the disposal of Krafts North American Pizza to Nestle for total consideration of $3.7 billion contributed majorly to its high cash reserve. High cash reserve helps them to with acquisition cost and integration cost and any other abnormal cost. Apart from cash reserve Kraft does have reasonable current ratio of 1.04 reflecting its above average liquidity position then its peers. Although Cadbury has a strong hold on overall emerging markets Kraft have a greater position in some markets such as Brazil and Russia. As Kraft being a huge conglomerate busine ss it has vast amount of resources in terms of specialist staff, a highly invested research and development teams and finance etc to back up Cadbury to face competition from other rivals such as Hershey and Mars. Kraft can eve use its power over major supermarket chains such Wal-Mart to increase shelf value of Cadbury as majority of its sales come from small convenient store. Kraft is even able to promote Cadbury heritage brand more rigorously due to available of immense resources. It would be worth mentioning the fact that billion dollar Kraft empire has been experiencing an average growth of impressive 5 % over period of four years to 2008 (where it achieved 13% growth than previous year).(Daltorio, 2009) Acceptability To carry on with a strategic choice it also need to be acceptable by the stake holders. As shareholders are key stakeholders their consent is highly important. Although Kraft assured them the acquisition would result in increase in shareholders wealth as it fits in into its business culture, some shareholders have different opinion. One of the reasons for such conflict of interests is the fear of increase in companys gearing. By 2008 Kraft had a high gearing of 1.34 (ratio) compare to its rival Nestle of (0.36). They fear by acquiring Cadbury, Kraft would issue more long-term debt that may adversely affect the gearing ratio and hence increasing the financial risk of the business and affecting the capability of paying out dividends, hence damaging shareholders interest. The other reason for conflict of interest was the reaction from one of the biggest shareholders Warren Buffett of Berkshire Hathaway who regarded the acquisition as bad deal .He believed Kraft has overvalued Cadbury fo r purchase consideration and the disposal of pizza business to Nestle for $3.7 billion was a mistake. He firmly believed Kraft is paying high premium for the acquisition. One shareholders view didnt affected Krafts strategic choice and Kraft went ahead with the acquisition despite got rejected first time. (Barr, 2010) Ballast Businesses *CADBURY* Heartland Businesses Alien Business Value trap Business Skills Opportunity Low High High According to my analysis I think Kraft values Cadbury as Heartland Business as Kraft has the skills to exploit opportunities from Cadbury. (UNDER ASHRIDGE MODEL) ACQUISITION for Kraft The long clashing 5 month battle between Cadbury and Kraft was finally over on 2nd February 2010 as Kraft clinches control over Cadbury by 72% holding. Kraft then took total control of Cadbury on June 2010. Cadbury shareholders had a deadline of 2nd February to accept Kraft offer of 500 pence in cash for each Cadbury share and 0.1874 new Kraft shares for each Cadbury share which altogether values each Cadbury share at 840 pence including a special 10 pence dividend. This sums up the total valuation of Cadbury business to approximate of  £11.9 Billion ($19.4 Billion). Kraft offered this purchase price on 19th of January after a long negotiation with Cadbury management. Kraft tried to make hostile takeover on 7th September by a bid worth 300 pence in cash and 0.2589 new Kraft shares for each Cadbury share (valuing it 745 pence a share). However Cadbury rejected the bid immediately and regarded it derisory. Kraft sweetened the bid by raising the original offer and increasing the cash component from 40% to 60% to make it more appealing for Cadbury shareholders. (Cimlluca et al, 2010) http://graphics.thomsonreuters.com/0210/EZ_CBRY0210.gifI have extracted this graph from Thomson Reuters to illustrate the impact on the share price for both involved parties after the announcement of take-over. We notice an increase of almost 40% in the market value of Cadbury. The increase in Cadburys share price was triggered by the initial announcement by Kraft of its intention to take over Cadbury in early September of 2009. The announcement was received well by Cadbury Shareholders causing an increase in demand and thereby price of the stock. However we see a fall in the share price of Kraft food at the time announcement (graph below), some analysts believe this was due to Warren Buffet dissatisfaction of Kraft Acquisition. He regarded the acquisition as bad deal, which caused chaos amongst other shareholder hence a price falls. This price fall deteriorated the purchase price offered by Kraft which was immediately rejected by Roger Carr, Chairmen of Cadbury. http://graphics.thom sonreuters.com/0210/EZ_CBRY0210.gif (Wiggins, 2009) Source: Digital Look(Munya , 2010) http://data.moneycentral.msn.com/scripts/chrtsrv.dll?symbol=kftE1=0LPR=2C1=2C5=6C5D=1C6=2009C7=6C7D=1C8=2010D5=0D2=0D4=1DD=1width=612height=258CE=0CF=0palette=2AF=2 KEY POINTS FOR FINANCIAL ANALYSIS Kraft foods acquired Cadbury plc in February2 2010. Hence Cadbury results are restricted to 10 months rather than full 12 years and its subject to fluctuate with moving exchange rates. Cadbury data was adjusted from IFRS (previously applied by Independent Cadbury) to U.S GAAP followed by its new Parent Kraft Foods Inc. Cadbury previous years figures couldnt be compared with unless comparison is made in percentile due to the size difference of both businesses. Kraft even revised its Net Revenue retrospectively 2009 onwards.Post Acquisition Financial Perspective The above graph represents s the growth and decline in sales over a period of 4 years by means of percentage. The 2010 information contains data post acquisition, specifically contribution from Cadbury of $9143 that has been converted using the exchange rate of $1.595 per  £1.00 for the aid of analysis. It can clearly be noted the reason why Cadbury was so desirable by Kraft. Cadbury attained significant growth from 2007. In June 2007 Cadbury introduced their Vision into Action plan which insisted in strengthening their position in emerging market. This strategy was immediately effective and can be reflected in the graph. As stated earlier in this research report one of the key reasons for Kraft to acquire Cadbury was their better position in emerging market as compared to Kraft. Although Cadbury has just been acquired for 11 months under Kraft we see a marginal fall of 4% in Cadbury sales than its preceding years. This maybe because Kraft maybe getting acquainted to Cadburys opera tion and network hence not utilizing Cadburys full potential. (Cadbury, 2009a) This graph explains what did Krafts CEO meant by GLOBAL POWER HOUSE. If we examine the two graphs we see a change in the revenue from developing and North American markets. The main reason for Kraft to takeover Cadbury was to derive maximum benefit of Cadburys strong hold in emerging market. Although Kraft is one of the largest companies in food industry it drives more than 57% of its revenue from its Home Market US. As US market is experiencing economic recession Kraft needed to adopt an effective strategy to broaden its operations globally. Hence Cadbury looked more attractive from Krafts perspective. Its worth mentioning that Cadbury earns more than 40% from the fast emerging markets portraying its position being better than Kraft.. It should be taken into consideration that fact that Kraft hasnt launched any new aggressive marketing scheme or any strategic step via Cadbury in emerging markets. In 2010 Kraft has continued to run Cadbury operation without making any major changes. Talking quantitatively Cadbury boosted Krafts net revenue in emerging markets by $3382 million which can be seen clearly in the graph at the bottom. Krafts strengths in Russia, Brazil and China along with Cadbury great position in United Kingdom, India and Mexico has spread its revenue source which has reduce the risk of a recession affecting Krafts sales .By acquiring Cadbury Kraft enhanced its distribution channel which became effective in the first year of acquisition and clearly be seen in the 2010 net revenue segments. In 2010 revenue from US market contributed less than 50% to Total Net Revenue minimizing the business risk driven by recession. (Farrell et al, 2010) The above illustrated graphs represent the change in Krafts revenue source after the acquisition of Cadbury. Krafts adopt a rational approach and pursue the strategy of selling off less profitable brands and achieving quick growth by acquisition. Kraft faced fierce competition from private label companies in the cheese and packaged meat market. Therefore Kraft acquired Cadbury to diverse its revenue source as there were dangers of fall in revenue from its main segments. There is an increase of 16% in the contribution made by confectionery segment. This segment is a high potential growth segment and Kraft would like diverse its business risk by investing more in promotion of this segment. (Trefis, 2011) The Gross margin shows the amount of gross profit generated by the company as a percentage of the sales revenue. Kraft Gross Profit Margin has been plotted against each quarter from 2009. It can be analyzed by the graph that Kraft tried to maintain its Gross Profit Margin in mid 30s percentile despite economic downturn in US market and increase in raw materials Kraft is able to maintain its objective, the main grounds for such level gross profit margin was the acquisition. By acquiring Cadbury Kraft has widen its distribution network as Cadburys main selling networks are convenient stores open on High Street therefore reach of every individual. Talking in respect on cost of sales (100 Gross Profit Margin) Kraft will benefit from economies of scale especially regarding purchases as Kraft will be bulk buying and using Cadbury suppliers rationally to minimise cost of sales as possible. (Szalai, 2011) Net Profit Margin is an indicator of profitability, calculated as net income or net profit divided by net revenue. As shown by the graph, we see a downward trend in the net profit margin against each quarter in 2010.Despite the fact that there has been a 27% increase in Net Revenue in 2010 as compared to its preceding year, we notice a fall of 23% in net profit especially in the fourth quarters of 2009 and 2010 ($711m and $547 respectively. However in aggregate there has been an increase in the net profit from 2009. The major reason for such deteriorates result for the fourth quarter was the cost associated with integration between Kraft and Cadbury. The pizza business of Kraft did contributed to the net profit in 2009 , by the sale of its pizza business to Nestle ,Kraft has deprived itself from the positive contribution of its disposal component.(BBC, 2011) The Prime objective of making investment in any business is to obtain satisfactory return on capital invested. Hence, the return on capital employed is used as a measure of success of a business in realizing this objective. Return on capital employed establishes the relationship between the profit and the capital employed. It is used to show the overall profitability and efficiency of the business. By analysing we see a fall in return on capital employed although the sales and net profit overall has increased however it hasnt increased by the proportion of investment made by KRAFT FOOD. As Mr. Warren Buffet feared that Kraft did overpay for the acquisition this can be reflected in diminish of return on capital employed. I have also included a graph showing fall in earning per share that illustrate the point of less return for the investors this maybe due to issue of new share to Cadbury shareholders. (Wilson , 2010) I have included this graph in my research report especially to breakdown the positive and negative contribution made by Cadbury to Kraft operating income in 2010 as compared to Kraft in 2009. As announced by CEO of Kraft Foods, Kraft is highly likely to expect $1 billion in incremental revenue synergies apart from $750 million in cost saving by 2013. In order to achieve the synergies Kraft has budgeted to spend $1.5 billion in the first three years following the acquisition to combine and integrate the two businesses and already incurred $657 million in 2010. As stated in Kraft Annual Account 2010, Kraft incurred and expensed transaction related fees of $218 millions in 2010 and $40 million in 2009.Kraft has recorded the mentioned costs under selling, general and administrative expenses in Profit and Loss Statement (Statement of Comprehensive income). However in the above graphs include figures which has been given in the Kraft 2010 annual accounts analysis of operating profit rather than actual incurred cost as some cost have been taken under finance cost which hasnt been included in arriving at operating profit for 2010. This seems a draw back in the acquisition objecti ve and maybe criticizes by its stakeholders as integration cost has reduced Krafts earning by 33%. (BBC, 2011) Liquidity ratio expresses a companys ability to repay short-term creditors out of its total cash. The liquidity ratio is the result of dividing the total cash by short-term borrowings. This Graph represents the two liquidity ratio one normal current ratio and another quick test ratio. Unlike Current ratio, quick ratio focus on the most liquid assets hence it exempt inventory from current asset while calculating ratio. Some of the key points that need to be addressed before analysis of the graph are the disposal of the pizza business and all the working capital relating to it. We should also account for the current assets and current liabilities acquired by Kraft such as Net Receivable of $ 1333 m and Accounts Payable of $ 1605 m etc. Another point to be mentioned is that while calculating Quick ratio I havent excluded the deferred tax asset, while some analyst exclude deferred tax asset as they dont regard it liquid. We see a significant difference between both ratios as inventory has occupied much of the working capital. Comparing it to the last year it is almost consistent with the growing sales. We notice a slight deterioration in both the ratio of 2010. The $3.7 billion cash raised by disposal of the pizza business was used to pay cash component of the acquisition. The rise in the actually figure is in line with the growing and diverse sales (Kraft Foods Inc, 2010) Gearing Ratio is a measure of financial leverage, demonstrating the degree to which a firms activities are funded by owners funds versus creditors funds (investopedia).The above graph represents how much company has borrowed compare to equity raised by KRAFT FOODS. Kraft had issued a long term debt of $9.379 billion (net proceeds) to support the cash component of Cadbury of acquisition along with proceeds from Pizza Business. Kraft even made a repayment $2.1 billion of long term debt during the year. This has increased the total debt of the business from $18990 million to $28724 Million. Kraft has also issued 262 million shares to existing Cadbury shareholder as part of purchase consideration. This has enlarged Krafts share capital affecting the gearing ratio. By taking into consideration the above mentioned circumstances, we see an increase in the gearing ratio of 7%. This may cause some concerns amongst shareholders and lenders of Kraft as the financial risk of the business has increased as more interest will be paid from the profits available to pay dividends to shareholders. (Tradition Financial Concept.). This may even damage the creditability of KRAFT FOOD in lenders market as it has borrowed 80% to Equity, hence it may be charged high interest rate by the lenders in future. (Kraft Foods Inc, 2010) (Hoskins, 2010) Interest cover is a measure of the adequacy of a companys profits relative to interest payments on its debt. This ratio will help to explain the previously mentioned financial due to increase in gearing. Due to the increase in leverage we see a fall of 0.94 in interest cover which means there would be less profit available for dividends. This maybe is one of the reasons why Warren Buffet (one of the major shareholder in Kraft) reduced its stake from 9% to 6%. The ratio is over 2 which is considered strong by analyst and reflects Krafts strong position in borrowers market. However Fitch, one of reputed credit rating agency, has downgraded the default rating on both companies to BBB-. However its rivals havent downgraded the rating as yet but our reviewing if they should follow their peers. Flitch has downgraded the rating due to anticipated increase in financial leverage of the combined Kraft/Cadbury. (Peters et al, 2010) Operational Changes Post Acquisition The significant changes in operations along with their impact on KRAFT FOOD GROUP as a whole: Closure of Somerdale factory Days after acquisition Kraft announced the closure of Cadbury factory in Bristol. During the acquisition struggle, Kraft pledged to retain Somerdale Factory. The announcements created a chaos amongst Cadbury workforce and British Unite trade union as 400 employees were being made redundant. It would be worth mentioning; Cadbury prior to its acquisition (in year 2007) had already announced the closure of its Somerdale factory as they had invested more than  £100million in the production plant in Poland to be cost effective. However at the time of acquisition Kraft assured Cadbury stakeholders that it will keep the Somerdale factory running. Kraft tried to justify the closure by stating that they made a genuine attempt to keep it running but its irrevocable. This had a negative impact on the motivation of 5400 Cadbury employees working United Kingdom as they feared less job security .Kraft faced high criticism from British media which lead to boycot

The Use of Polls to Analyze Public Opinion in Politics Essay -- Explor

The Use of Polls to Analyze Public Opinion in Politics Public opinion is defined in the text as â€Å"the distribution of the population’s beliefs about politics and policy issues† (Edwards, Wattenberg, and Lineberry 150). On paper, it sounds so simple; in reality it is much more difficult to determine. The most common method for ascertaining and consolidating public opinion has been through the widespread use of polls. Their popularity has steadily increased over the years. One reason is that they provide an accurate, reliable representation of the opinions of an entire population and supply decision-makers with valuable insight that may be used to determine a future course of action. However, not all polls are created equal. Polls are conducted by various organizations, businesses, corporations and public officials in an effort to determine the public’s stand on issues ranging from the terribly controversial to the completely trivial. Regardless of subject matter, there are basic principles of polling that g reatly affect their quality and reliability. â€Å"Commandment #1† on everyone’s list states the necessity of a randomly selected sample of a population. This ensures that all those whose opinion the poll attempts to represent shall have an exactly equal chance of being interviewed. Telephone interviews conducted on a sample size of 1,000 – 2,000 people called from a list of random, computer-generated phone numbers are all typical components of a good poll. Some of these components can be altered without critically affecting the overall quality of the poll. For example, good polls can be conducted on a sampling as small as 700 – 1,000 people; the decrease in size causes an increase in error margin, but not by much. ... ...n, Princeton, â€Å"How Polls are Conducted†, http://www.gallup.com/poll/faq.asp, pp. 1 – 7. (The Gallup article is a secondary source cited from: Frank Newport, Lydia Saad, and David Moore, Where America Stands, John Wiley & Sons, Inc., 1997). Benjamin Ginsberg, â€Å"Polling and the Transformation of Public Opinion†. Allan Cigler and Burdett Loomis, American Politics: Classic and Contemporary Readings, 4th ed. Boston: Houghton Miflin Company, 1999, pp. 124 – 137. Charles Kenney, â€Å"They’ve Got Your Number†. Allan Cigler and Burdett Loomis, American Politics: Classic and Contemporary Readings, 4th ed. Boston: Houghton Miflin Company, 1999, pp. 114 – 123. Larry Sabato and Glenn Simpson, â€Å"When Push Comes to Poll†. Allan Cigler and Burdett Loomis, American Politics: Classic and Contemporary Readings, 4th ed. Boston: Houghton Miflin Company, 1999, pp. 139 – 145.

Summer

The leaves now searching for a new home, they flutter down on their wings of pure gold. The trees now come together, forsaken, isolated and soon to winters cold. Crickets, hedgehogs, owls too join in with the late night autumn song. To remind us another season won't be long. Christmas gifts make their showing on shelves in stores. Leaf blowers begin to go on vacation and snow shovels prepare for chores.Winter is here Everything knows from the tiny hares to the giant deer That Christmas our favorite time of the year is near. Struggling to keep in winter's cheer, Children burst out â€Å"winter is here†. Sometimes tend to gaze at the stars. On a clear winter's night maybe even Mars. When outside is a winter wonderland of snow, Passionate eyes like ember aglow. Teeth chatter like a pair of castanets. The cold seeps into our gloves until they cease to bend properly.There is no escape from the cold especially when it's in your own property Your muscles will be so numb you can barel y hop It seems like a mission just going to the first bus stop But if I do each the bus stop, I attempt to lean on it. Forgetting that in winter days, the icy biting metal that quickly imbibes all your body heat Leaving you as cold as those trees, it's an experience you loud not like to meet On winters day thin frozen puddles crack under my winter boots. To me the cracks look like gnarled fingers, twisted and knotted.Others say the cracks look like tree roots. The ground was as smooth as a cake Snow had fallen like icing powder, perfecting it to its finest point The scene so unreal one could say it was fake. The swirling white and the lush grass collided. Falling in snow the children were delighted The trees so tired it seemed they couldn't even put up a fight To keep themselves all stained white The trees dreamt of warmth All they received was the pale light only winter's Sun could give.Even the leaf stems lie frosty and sharp But it glistens like an angels harp The floor full of c rystals of ice gleam like a floor of polished white quartz Indicating aims time for winter sports. In winter people are sneezing because it is freezing As they exhale visible puffs of smoke diverge People begin to miss summers outdoor heating When witnessing the obscure clouds above finally converge. Winter winds now howl Piling up snow in adrift Tired from a lack of sleep people now scowl Misunderstanding, winters cool gift.

American Verna essays

American Verna essays Why is that humans were able to practically take over their environment and leave all other animal species far behind in the race of survival? Not many would argue that we were able to do so just because we can walk upright and we have unspecialized teeth. In fact, humans are capable of many things that separate us from the animals. Our far most important trait is the ability to analyze and comprehend complex subject matters. From that we can learn, understand and communicate with one another so we could accomplish things as a group, a group which one day became so complex that without structure and laws, chaos would preside. In our times, we see many distinct cultures where each has its own way of organizing and way of keeping its people in harmony. Although most of the world is leaning towards democracy, there are few nations who believe in the ancient ways. One of the most controversial civilizations studied is the Indian civilization, which developed and flourished as early as 70 00 B.C.E. The controversy rises from a harsh though well-thought classification of people due to their skin color and other physical characteristics. To democratic America this may sound a bit horrifying although some even argue that the United States maintains some sort of a caste system perhaps even as harsh as the one in India. This idea can surely be proven wrong through a close comparison of the Indian social structure and the American freedom. A false conclusion should not be made that there is no sort of a caste system in America, but one that is not as rigid nor providing social importance as the one in Ancient Indian culture. The way a culture develops and evolves plays a major role of how the system would stand. As explained later, there are few theories of how and why a caste system is created, but all studied caste systems have common foundations. One common issue is that there are physical differences between each caste whethe...

Night Essays - Holocaust Literature, Night, Elie Wiesel, Free Essays

Night Essays - Holocaust Literature, Night, Elie Wiesel, Free Essays Night Never shall I forget that night, the first night in camp, which has turned my life into one long night, seven times cursed and seven times sealed. Never shall I forget that smoke. Never shall I forget the little faces of the children, whose bodies I saw turned into wreaths of smoke beneath a silent blue sky. Never shall I forget those flames which consumed my faith forever. Never shall I forget that nocturnal silence which deprived me, for all eternity, of the desire to live. Never shall I forget those moments which murdered my God and my soul and turned my dreams to dust. Never shall I forget these things, even if I am condemned to live as long as God Himself. Never. -Elie Wiesel The Holocaust-the mass murder of European Jews by the Nazis during World War II. It was the unthinkable, the horrific murder of 6 million Jews and millions of civilians of different ethnic and racial backgrouds. It was average men entering the German army and turned into Nazis, cold-blooded killers. It was the connotation of Holocaust which became Night, by Elie Wiesel. This paints a picture, full of vivid imagery and truth, about the genocide of his own people. Elie witnesses the starvation, brutal beating, and eventual death of his friends, family, and fellow Jews. Wiesel, himself, survived Auschwitz, Buna, Buchenwald, and Gleiwitz, all German concentration camps, where atrocities such as cremation and murder hung thickly in the air like a heavy cologne. Born September 30, 1928, Eliezer Wiesel led a life representative of many Jewish children. Growing up in a small village in Romania, his world revolved around family, religious study, community, and God. Yet his family, community, and his innocent faith were destroyed upon the deportation of his village in 1944. One of the main topics in this book is how Elie, a boy of strong religious faith, along with many of his fellow jews, lose their faith in God due to the horrific effects of the concentration camps. Elie Wiesel lived his early childhood in the town of Transylvania, in Hungary, during the early 1940s. At a young age, Elie took a strong interest in Jewish religion, while he spent most of his time studying the Talmud. Eventually he makes aquaintances with Moshe the Beadle who takes Elie under his wing, and also instructs him more in depth of the ways of the Talmud and cabbala. Elie is taught to question God for answers through Moshes instruction. Moshe is sent away to a concentration camp, and upon his return, Elie finds that he has changed dramatically. This is a foreshadowing of what will become of Elies faith in the strength and power of God. Moshe had changed...He no longer talked to me of God or the cabbala, but only of what he had seen.(4) The first evidence of Elies loss of faith, is while he questions God during the selection process. This process is concerned with separating the young, strong, and healthy Jews, from the old, weak, sickly, and/or infants. The Jews were separated from their loved ones who were immediately sent to the crematory or burned in large fire pits. Elie says goodbye to his mother and sister, unknowing that it will be the last time that he will ever see them again. Many of his fellow Jews began to pray and recite the Kaddish, a Jewish prayer for the dead, with hopes to console their own grievances for the loss they had suffered. However, Elie questions, Why should I bless His name? The Eternal, Lord of the Universe, the All-Powerful and Terrible, was silent. What had I to thank Him for?(31) Elie witnesses a load of children being dumped into a pit of flames which he labels as the Angel of Death, and at this point, the diminishing effects of the first night of camp life are already taking a toll on Elies religious faith and personal self-worth. The final deterioration of Elies idea of God, where he renounces all belief in His existence, is during the funeral of 3 Jewish males who were hanged the day before. One of whom was a child, so mere in weight, whom struggled amidst the others for over an hour before death came to take him. Here the reader can sense the collosal loss that Elie is overcome by, having spent the majority of his childhood seeking salvation only to come to realize it was all

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