Stock Exchange, Railways and Company Law Essay Example | Topics and Well Written Essays - 1000 words

Stock Exchange, Railways and Company Law - Essay Example The liability of the investors that have provided funds for the company is limited to these funds. Managers are elected to protect shareholders' interests and their main task is to increase their wealth with employees being a functional daily segment of this task. Big joint stock companies usually trade their shares to the public and thus the ownership and distribution of the benefits of the company can change over time. The fist joint stock companies occurred in the UK and in Europe and mainly dealt with trade. At the beginning of 19th Century the UK corporate law had no clear statement of whether corporation was a private or public person as the majority of the shares within such companies were held by private individuals and not by the state. US had experienced at this time some court cases which lead to the decision that identification of the separate corporate personality must be cleared. Industrial revolution has lead to enormous capital accumulation which was a very favorable field for development of joint stock companies which at the beginning of the nineteenth century in the UK industry prevailed in the sectors of insurance, utilities, transportation and shipping2 and were legally viewed as partnerships and not as corporations. The major faults within such a legal entity were the "inability to sue and be sued using a joint name, the lack of power to proceed in common law against one partner , the fact that one partner could bind the whole against their will, the difficulty of getting rid of an unwanted partner, and generally the ease of fraud amongst partners"3. Liverpool's bill after numerous debates made the metal joint stock companies present annual report on their actions to the House of Parliament. Shares were then personal property selling of which was a formal transaction and only after 1815 more than 140 company shares were quoted on stock exchange which increased the need for legalization of such trade and has lead to rising sues. Some scholars argue that some sort of limited liability which is now one of the joint stock company features, already existed in the late seventeenth century as shareholders could not be arrested for their debt and be subject to bankruptcy charges, and the shareholders were not liable by personal possessions for the debt of the company. This may have lead to promoting incorporating of businessmen and unincorporated companies were in disadvantage comparing to the former. The law of the early eighteenth century was more tolerant to creditors rather than debtors as the latter could be put into prison for minor debt and thus people who made up the incorporated company were as the legal body of the company themselves. Only in the middle of the 19th century the reform had brought the corporate personality separation where the persons within incorporated companies were different from the joint stock venture entity, while investors within unincorporated company were as one. This difference c an be seen even from the referral to such companies in the press and literature, where until the middle of the nineteenth century incorporated and unincorporated companies were both referred to as "they". From the middle of the

Abraham Lincoln and the Civil War Essay Example | Topics and Well Written Essays - 1000 words

Abraham Lincoln and the Civil War - Essay Example Lincoln’s actions resulted in the success of the civil war. During the American Revolution and the adoption of the constitution, there emerged differences between the North and the South. The conflicts were based on their varying opinions on establishing a new nation. Sectionalism increased in the country promoting the start of the civil war due to the different cultural and economic perspectives between the northerners and the southerners. The interest of each of the sections was more crucial to its people than the interests of the whole country. The civil war could also have started because of the differences between the Free States and the slave States over the power of the national government to stop slavery in the regions that were not yet stated. The different philosophical positions of the north and the south over the power of the federal government further facilitated the civil war. Southern philosophers supported the notion of the states’ rights. The southerners feared that the federal government could have the ultimate powers to own slaves as it did in Northwest Ordinance and Missouri. According to the southerners, the states had the authority and not the people who, are represented by the federal government (Finkelman, 2011). On the contrary, the Northerners recognized the ultimate power of the federal government The debate over Slavery is cited as the other cause of the civil war. The Republicans opposed the idea of expanding slavery into the territories and aired their views through their candidate, Abraham Lincoln. On the other hand, the Democrats supported the right of southern states to take the slaves into their territories. The northerners emphasized on containing the slaves claiming that the slaves were valuable to the Northern region.  

Challenges and Gaps Essay Example for Free

Challenges and Gaps Essay At the core of any discussion on the themes of globalization is education. The graduates or products of the institutions of learning, whether public or private, become responsible in carrying out research and development (R D) in the world systems – information and communication, science and technology, environment, economy, politics, intercultural understanding and cooperation. As such, academic institutions at all levels are responsible primarily in education that teaches the skills, knowledge, and technology of the current century. However, the characteristics of global education are quite varied although the basic elements are common to educators. Globalization, at the same time is a promise of interrelationships; it is also foreshadowing possible threats and risks. The challenges are many and costly depending on its relevance and on the priority needs of the country. Gaps within the different countries vary – some wider as it is between the developed countries and the developing ones; others are narrower among countries of the same categories. Nonetheless, one thing is certain in the uncertainties of the future of globalization. Global education as an inevitable consequence of globalization will have its micro and macro level characteristics, it is promising as well as threatening, its challenges are posed to the institutions of learning, and considerable gaps will continue to exist among nations. Global education has been defined in various ways but the commonalities and character are more or less explicit. The Association for Supervision and Curriculum Development (ASCD) in their 1991 Yearbook defined it as (Philosophy and Definition n. d. ): Global education involves learning about those problems and issues which cut across national boundaries and about the interconnectedness of systems – cultural, ecological, economic, political, and technological. Global education also involves learning to understand and appreciate our neighbors who have different cultural backgrounds from ours; to see the world through the eyes and minds of others; and to realize that other people of the world need and want much the same things. J. Michael Adams, during his stint as president of Fairleigh Dickinson University (2004) gave his insight on what global education is and he said: It is an education that ensures that students will be able to succeed in a world marked by interdependence, diversity and rapid change†¦one that provides knowledge and understanding of cultures, languages, geography and global perspectives. Most importantly, global education is one that enables students to understand their roles in a global community and teaches them how their actions can affect citizens throughout the world†¦that it demonstrates how events around the world can affect students in their own lives and therefore cannot be ignored. Scripps College (Strategy Two: Globalization n. d. ) looks at globalization as a complex and multidimensional phenomenon entailing both opportunities and risks for all the inhabitants of our planet, and it will provide its students with the conceptual tools, adaptive skills, and experiences necessary for fulfilling lives in an interconnected world characterized by rapid transformation and uncertainty. From these open-minded definitions, we are brought to a close of what global education can mean. It is dynamic because it is a process and it is not coming to a halt. It is about the interrelatedness, interconnectedness, and interdependence/cooperation of the people and nations of the world as one belonging to the global community/village that is constantly influenced by the rapid changes brought about by science and technology and man’s exploitation of the earth’s resources. It is altogether addressing the concerns of each and every nation such as poverty. It is a striving to understand each other’s differences, live in peace in diversity, while taking the subjective view of things from other cultures’ perceptions. It is educating the students and the young in general in the competitive skills to become aware of citizenship both at the local and at the world level and to be able to acquire the necessary tools as a survival kit. Globalization, while it poses opportunities and promises, are not bereft of the risks and dangers that simultaneously comes along with the numerous uncertainties brought about by it. Through the interrelatedness among nations, peoples, economies, and cultures, ideas and innovations are swiftly shared. Education is shared through various forms of exchanges around the globe. However, on the other hand, the risks of globalization cannot be underestimated. J. Michael Adams (2004) shares his opinion on the mutual dependencies of nations yet apprehensive that the useful outcomes of globalization are not mutually shared. Furthermore, borderlessness, which is a characteristic of globalization, can cause the increase of threats to mankind like ruin to the environment, the speedy spreading of contagious diseases, and violence in terrorism. To cite an example is the nagging problem where to dump and how to manage the devastating unimaginable volumes of garbage all over the continents and more so in the long run. In the case of pandemic diseases such as the current AH1N1 or commonly called the â€Å"swine flu† went â€Å"global† in no time at all because of the profusion of travels. Moreover, terrorism in different degrees occurs in many parts of the world. Globalization is in itself a challenge to every citizen of the world. Illiteracy has no place in globalization; it is in fact opposed to globalization. Science and technology, the cyberspace, and the information generation do not make meaning to the unschooled and neither do they benefit from it. Then, it is not just the unschooled that will be misplaced but including those students who will not strive, through their competent teachers and schools, to acquire the necessary skills to cope or adapt or survive in the borderless society. This brings us to the burden of responsibilities of the learning institutions charged with the (global) education of the young. Because of the uncertainties in globalization, the latter creates challenges that must be intellectually addressed by the academic community. For one, countries have been categorized as Developed Countries and Developing or Underdeveloped, First World and Third World. The discussion in Philosophy and Definition (n. d. ) is a very good starting point. First, the concept of global education is an initiative proposed from the end of the United States and the other developed countries in the Euro-West. As such it comes almost naturally to them as a matter of a natural course of action in the â€Å"shrinking of the world† as a global village. Different institutions have a range of approaches to global education. Take the case of the University of California Approaching the 21st Century (n. d. ) as it addresses a range of issues with appropriate and corresponding initiatives. The issues, specifically referring to inculcate to the undergraduate students address cultural diversity, skills needed in the continuing sophistication of technology, research, collaborations, and the finance to distribute for sharing the knowledge. These issues are pointing to some of the perceived aims of globalization – to learn to accept and live in coexistence in harmony with a wide variety of people of different cultures and races; to learn the lifelong skills to competitively make a living in this technologically-driven era; to further encourage research to dynamically cope with changes and development; that any effort geared at globalization is every citizen’s look out not just in the community but in the community of nations; and whatever knowledge gained must be shared. The case of Scripps College â€Å"Strategies and Initiatives† (n. d. ) is similarly facing the challenges by preparing its (all women) students for tomorrow’s globalization. Accordingly, it aims to understand the complexities of globalization and to be approached across the disciplines by considering such things as broadening the curriculum in a particular discipline while incorporating the issues of globalization. Scripps emphasizes of women issues and their active participation in all spheres of the society. To adapt to the rapid changes taking place, giant companies like Cisco, Intel and Microsoft (January 2009) make a resounding call for the private sectors to join hands with the public institutions because even governments are facing reduction in resources. Collaborating, the three companies spearhead the assessment research and development by assessing globally the outcomes of the skills of the students to enable them to join or qualify in the future workforce. From the same source, it is gathered that â€Å"In the global economy, it is the world’s best performing education systems, not simply improvement by national standards that have become the yardstick for educational success. † As countries take steps in approaching global education, gaps are created in the process. Third World countries, when it comes to the issue of global education, they are in a quandary between their domestic concerns as stipulated in their respective philosophies of education and quite the comparison, what is called for in global education. There is no doubt that the developing countries understand the concepts of global education and its accompanying elements. However, Third World countries in spite of their awareness of the existence of the movements in many countries, they are preoccupied with their priorities taking into consideration their own relevant needs at the domestic level such as nation-building. Necessarily, they log behind the First World. Secondly, finances to address globalization are an important matter that Third World countries are not able to cope with competitively. For instance, the report of the Research Universities UNESCO Forum on Higher Education, Research and Knowledge (2006) presents statistics that explains financial constraints responsible for the considerable gaps. Developed countries on average spend 2. 5 percent of the gross domestic product on R D. While India allocates 1. 2 percent; Brazil, 0. 91 percent; China, 0. 69 percent, most developing nations devote less than 0. 5 percent of GDP to research and development. The figures, quite representative of the Third World, imply many things to global education in the context of developing nations. While developed countries excel in R D, developing countries lag too far behind. How to close these gaps is an effort to address such as the position advanced earlier by Cisco, Intel and Microsoft (2009). Much coping has to be undertaken by the developing countries while simultaneously addressing their own domestic priorities. Thirdly, Tony Wagner in his â€Å"The Global Achievement Gap† (2008) observes (supported by statistics) that â€Å"even our best schools don’t teach the new survival skills our children need†¦Ã¢â‚¬  and that â€Å"generally school educators do not have a sense of urgency of change because they are being busy attempting to increase the number of standardized tests and lose vision for the change. † Under what he believes is the present unfortunate scenario in the educational system, he has proposed what he calls the seven survival strategies to close the gaps or remove the â€Å"educational obstacles. † Addressing the achievement gap he is referring to, Wagner cited samples of schools that teach hands-on and project-based learnings where students â€Å"think, plan, organize, and work in a team† while teachers act as classroom facilitators and coaches only. More than ever, the present time attests to the common saying that the only thing constant in this world is change. Every forthcoming change is almost uncertain. The educational system, entrusted with the knowledge and skills acquisition of the young must be keen to the clues of the changes in the environment from which the philosophies of education are culled. A very important component thus, of the learning system in addition to critical and analytical thinking, is problem-solving. Equipped with problem-solving tools along with the basics of education, the future citizenry are well prepared for any changes and uncertainties. Underlying all these efforts is a sure move towards the ideal in globalization that is, peaceful and positively developing the world without compromising nature while carefully addressing terrorism on the other through active intercultural understanding. The challenges of the uncertain future must be the shared responsibility of the public and private sector because every citizen’s being will be affected by the changes brought about by globalization. Gaps must not widen through the concerted effort of the haves and the have-nots. As globalization must go on beyond anyone or any nation’s control, every individual has a stake in it. Globalization is a promise of a better world although the risks may be dangerous to mankind if not averted; the challenges are high and costly but the world can make it work through cooperation; gaps can be narrowed through generous sharing. Works Cited Adams, J. Michael. â€Å"What is Global Education? † Farleigh Dickinson University President’s Update. 7 October 2004. 21 June 2009. http://www. fdu. edu/newpubs/presupdates/041007. html â€Å"Cisco, Intel and Microsoft Lead Collaboration to Improve Global Education Assessments. † Learning and Technology World Forum. 12-14 January 2009. 21 June 2009. http://www. latwf. org/latest_news-3. html â€Å"Philosophy and Definition. † Issues in Global Education – Global Education: A Worldwide Movement, Newsletter of the American Forum for Global Education. n. d. 21 June 2009. http://www. globaled. org/issues/150/c. html Scripps College: Globalization. Strategies and Initiatives, Strategy Two: Globalization. 21 June 2009 http://www. scrippscollege. edu/about/strategic-plan/globalization. php â€Å"The University of California Approaching the 21st Century† n. d. 21 June 2009. http://www. ucop. edu/ucophome/pres/WhitePaper/21stwp. html â€Å"UNESCO Forum on Higher Education, Research and Knowledge: Universities as Centers of Research and Knowledge Creation: An Endangered Species † United Nations University Institute of Advanced Studies Research Universities in the 21st Century: Global Challenges and Local Implications. 29 November to 1 December 2006. 21 June 2009. http://www. ias. unu. edu/sub_page. aspx? catID=35ddIID=181 Wagner, Tony. â€Å"The Global Achievement Gap. † Education Review. Rev. Brenda L. H. Marina and Hsiu-Lien Lu. 21 June 2009. 5 April 2009. http://www. asu. edu/reviews/rev788. htm Frost, Robert. North of Boston. 1915. Project Bartleby. Ed. Steven van Leeuwen. 1999. 29 October 1999 http://www. bartleby. com/118/index. html.

Evaluation of Games Workshop and Hornby Businesses

Evaluation of Games Workshop and Hornby Businesses In a company or a business, the owner would want to evaluate his business i.e. whether the business is making a profit or loss and would want to compare it with other companies or its competitors in the same industry. To know the performance of a company, you need to look at more than just easily attainable numbers like sales, profits and total assets. To know the real picture of a company, we must be able to read between the lines of the financial statement. Hence there are many comparative ratios to identify the strengths and weakness of the company. These ratios will help the public (outsiders) to make decisions while investing in companies at the stock market. Ratio analysis helps us to understand the risk we must be taking. The basic source of these ratios is the companys profit and loss account and balance sheet as it contains all important information about the company. Financial ratios are useful indicators of a firm or companys performance and financial situation. The two company ratios we are going to compare are Hornby and Games PLC. Both the companies belong to the same industry. GAMES WORKSHOP Europes foremost professional P.C. and video game retailer is Games group. It is the only company in the gaming sector to be listed on the London Stock Exchange. Outstanding customer service and a specialist offer are at the heart of GAMES Group growth. HORNBY PLC HORNBY PLC is UKs Model Railway manufacturer. Frank Hornby founded the company in 1901 and launched trains until it was bought by his competitor Tri-Ang in 1964. http://en.wikipedia.org/wiki/Hornby_Railways. It is recognised for the construction of its model train sets, hobby (radio controlled cars) and toy production. It is an incorporated limited company, operating in the UK. Return on Capital Employed (ROCE). Return on Capital Employed (ROCE). ROCE = ____PBIT ___(Operating Profit)___ x 100 Capital Employed (FA + CA CL) Ratio on capital employed indicated the productivity and success of a companys capital investment. According to the formula we take operating profit or PBIT and divide it by the capital employed in the business i.e. fixed asset and working capital. In the two companies, the ROCE for Games workshop in the year 2008 was 5.48%, 2009 was 17.26% which was lower compared to 27.98% in the year 2010. This indicates that Games workshops ROCE has increased which is a positive sign as the more the returns of the capital employed, its better for the firm. Whereas Hornby Plc.s ROCE in the year 2010 has decreased from17.67% which was in 2009 and 29.47% in 2008 to 12.65% which is a negative sign as the return on capital employed is lesser than the rate at which the company borrows. Return on Sales (ROS) ROS = _PBIT_ x 100 Sales ROS also known as operating profit margin tell us about the companys operational proficiency. According to the formula, we consider operating profit or PBIT and divide it by the sales in the organisation. In the above two companies Games workshops ROS was 2.31% in 2008, 7.17% in 2009 and has increased to 12.68% in 2010. This indicates that games workshop is growing more efficiently and is more profitability. Whereas in Hornby the ROS for the year2008 was 16.85%, in 2009 was 11.20% and it decreased in 2010 to 9.27%. A decreasing ROS indicates financial trouble for the company. When we compare Hornby and Games workshop together, we get to know that Games workshop has a higher ROS which indicates a profitable organisation compared to Hornby. Asset turnover Asset turnover = ___Revenue____ Capital Employed Asset turnover is the amount of sales generated for every pound that is worth the asset. We consider the revenue of the company and divide it by the capital employed. In the above companies, the asset turnover for both the companies are low but Hornby has a lower asset turnover of 1.36% in 2010 compared to Games workshop thats asset turnover is of 2.20%. This indicates that games workshop has a higher asset turnover which is better. This also indicates pricing strategies which the company undertakes as companies with a low price margin who have a higher asset turnover and vice versa. Current Ratio Current Ratio = _Current Assets_ Current Liabilities Current Ratio comes under the heading of Liquidity ratio. Liquidity means cash a business holds during the financial year. Current Ratio is a liquidity ratio which tells us the ability of the company to pay its short term obligations. Short term obligations are obligations which are under 12 months. The formula tells us that the ability to pay back short term borrowings with its short term assets. In the above case Games workshop has a higher current ratio compared to Hornby, though the difference is not that large, but still Games workshops current ratio in 2010 is 2.03% while Hornby in 2010 is 2.10%. This indicated that Games workshop is capable to pay their obligations and vice versa. If the ratio was under 1 it would indicate that the company cannot pay its obligations. Liquidity Ratio (Acid Test Ratio) Liquidity Ratio = Current Assets Stock Current Liabilities Acid test ratio is a severe or a tough ratio which indicates whether the firm has enough short term assets to cover its immediate liability without selling out stock. The acid test ratio for Games workshop in 2008 was 0.9, in 2009 was1.14 whereas it increased in 2010 to 1.48. Hornby has a low acid test ratio in 2009 which was 0.72 but it increased to 1.37 in 2010. This indicates that Games as well as Hornby, both companies can pay off their liabilities as if the acid test ratio was less than 1 then the company has to be warned. Even if the acid test ratio is lower than the working capital ratio, it shows that the company is highly dependent on inventory. Cash Ratio Cash Ratio = Cash_____ Current Liabilities Cash ratio is the companys total cash balance and the cash equivalents to its current liabilities. Cash ratio is helpful to measure the liquidity of a company. In the above case, Games workshop has a much higher cash ratio in both the years i.e. in 2009 0.57 and in 2010 it was 0.92, whereas Hornby has a very low cash ratio from 2008 which was 0.07, in 2009 it decreased to 0.02 but it increased to 0.53 in 2010. This indicates how quickly the company can pay of its creditors. Hence creditors will decide seeing the cash ratio of the company. Stock turnover Stock turnover = _COGS_ Stock Stock turnover ratio shows how many times over the business has sold the value of its stocks during the year. In the above case, Games workshop has a higher stock turnover than Hornby. This is because in the year 2008, Games workshop had 3.24 as its stock turnover, in 2009 it was 3.36 and it decreased I 2010 to 3.02 which is a negative point. Whereas Hornby has a lower stock turnover compared to Games workshop. This indicates higher the stock turnover, the better it is for the company as then money is held up for a lesser time in stocks. Stock Period Stock Period = 365____ Stock turnover Stock period is the number of days where the average money is held up in stocks. It is calculated by dividing stock turnover by 365 days. This gives the actual picture of how many days the stock is in the warehouse. In the above diagram, it shows that in the year 2008 and 2009 Games had a stock period of 113 and 109 days while Hornby had a stock period of 166 and 164 days respectively. In the year 2010 Games workshop had a stock in warehouse for 121 days while Hornby had it for 138 days. This indicates the longer the stock is in warehouse, it is bad for the business as the money is not available to be used elsewhere. Hence Hornbys stock is available for a longer period than Games workshop. Debtor Period Debtor Period = Debtors x 365 Sales Debtor period is the average number of days credit given to customers i.e. how long does it takes the company to get its money. In the above case, the debtor period for Games workshop has decreased from 33 days in 2008 to 29 in 2009 and 2010 respectively. Whereas in Hornby the debtor period has increased compared to 2008 but has decreased to 75 days compared to 2009. This indicates that a lesser number of days are good as the debtors could trust the company. But if the company takes a long time to repay, it is bad, Hence Games workshop is better than Hornby as Games workshop has lesser number of days compared to Hornby. Gearing Ratio Industry Analysis Hornby PLC The toys and games industry has survived in the UK for 70 years but in 2009, model vehicles and outdoor games had a negative growth due to the economic recession. Customers preferred indoor games and activity construction toys since it did not require them to leave their houses, during this period. The economic downturn also caused some companies in the industry to stop business and others were bought by larger companies. There has also been an increase in demand for movie based toys and video games, which are easier to produce than other toys. As such, Hasbro, Mattel and Lego are favoured for this reason. The retail outlets prefer to stock video games as a result of its increase in demand and also because it takes less shelf space. The UK market is dominated presently by Husbro, which has the largest market share, Mattel and Lego. Passport GMID Traditional Toys and Games United Kingdom http://www.portal.euromonitor.com/Portal/ResultsList.aspx HORNBY PLC is UKs Model Railway manufacturer. Frank Hornby founded the company in 1901 and launched trains until it was bought by his competitor Tri-Ang in 1964. http://en.wikipedia.org/wiki/Hornby_Railways. It is recognised for the construction of its model train sets, hobby (radio controlled cars) and toy production. It is an incorporated limited company, operating in the UK. The company has created a niche market (train sets) and deals with suppliers all over the world for different railway products. Property owners, worldwide, want to engage with Hornby, in awarding license for Hornby products because of its specialisation and popularity . The key focus of the company is to ensure that the model railway business succeeds, by continually dealing with supply chain issues. Research and Development is also an important factor to its success. The following companies are subsidiaries to the group; Hornby Hobbies Ltd UK Hornby America Inc USA Hornby Espana S.A Spain Hornby Italia s.r.l Italy Hornby France S.A.S France Hornby Deutschland GmbH Germany There are individual targets for each subsidiary as regards growth and profit. It is monitored from time to time and based on current circumstances, future adjustments are made. http://www.hornby.com/investor-relations/ Horbys Competitors Tri-Ang Model railway producer Bachmann Europe Plc Model railway producer GraFar Model railway producer Model rail UK Model railway parts builder New railway Modellers Model railway builder Heywood Model Railway Group Model railway producer Hasbro Board (monopoly, scrabble etc), Star Wars movie franchise Mattel Superman, Batman, Harry Potter movie franchise Lego Activity and construction games Fun Collectibles Latest kidscrazes toys and games Wind Designs Flying toys, yo-yos, juggling equipments and kites Map Toys Toys and games Richard Edwards Card based products Revell Model kit toys Cartamundi Card games Ravensburger Puzzles and 3D Action games Cambridge Brainbox Educational Electronic kits Games Workshop Tabletop fantasy and futuristic battle games Thumbs Up Helicopters and AK 47 Guns Rainbow Productions Costume character production http://www.toynews-online.biz/marketplace http://www.holtmodelrailways.com/ http://www.modelrailuk.co.uk/ Home http://www.mcvuk.com/search/news/hornby+plc Customers Games retail stores Children Wholesalers Market Contribution and Share In 2008, there was a fall in interim pre-tax profits from  £2.7m to  £1.8m and this reduced the expected profit by December that year. Suppliers in China were challenged with the increase in labour and raw materials, therefore Hornby increased price by 10% to support China. http://www.ft.com/cms/s/0/65fd8c42-ec57-11dd-a534-0000779fd2ac.html Although sales in Europe fell by 15%, the Chief Executive was confident that Hornby would excel because of its quality hobby brand. On November 7th 2008, Hornbys shares dropped to 118.5p from the initial 300p which it maintained from the beginning of 2007. http://www.ft.com/cms/s/0/f57bef7e-ad34-11dd-971e-000077b07658.html#axzz14clXbHtA Hornby Plc contributes to charity every year. It donated  £15,354 in 2008 and  £21,635 in 2009 Hornbys % Breakdown of Company shares for Toys and Games in the UK COMPANY 2005 2006 2007 2008 2009 2010 Hornby Plc 1.1 1.1 1.1 1.0 Passport GMID Country Report Country Market Insights http://www.portal.euromonitor.com/Portal/Statistics.aspx Future Forecast In order to make profit, since the demand for video games and movie based toys have increased in the UK market, Hornby Plc should study the demand of the customers and work around producing what the customers need. There may be a problem in the future to fund research and development. Hornby Plc should be prepared for economic crisis. In 2010, the group is financially strong after a difficult trading period and there is a continuous increase in the demand for its products. Passport GMID Toys and Games United Kingdom http://www.portal.euromonitor.com/Portal/ResultsList.aspx Hornbys China engine unstuck on dollar strength By David Blackwell and Maggie Urry Published: January 27 2009 10:22 | Last updated: January 27 2009 16:56 http://www.ft.com/cms/s/0/65fd8c42-ec57-11dd-a534-0000779fd2ac.html Hornby sees fall in outsourcing benefits By David Blackwell Published: November 8 2008 02:00 | Last updated: November 8 2008 02:00. Page 26 http://www.ft.com/cms/s/0/f57bef7e-ad34-11dd-971e-000077b07658.html#axzz14clXbHtA http://www.toynews-online.biz/marketplace Games Workshop The Toys and Games industry in the UK is a gradually growing market, mostly due to their largest group of customers, children around 2-10 years of age. Children often want and need toys to entertain and occupy themselves with (Competitive Context-Figure 9). Even with recession, most parents do not necessarily cut down on spending on toys for their child as they are willing to spend what little disposable income they have on their kids and buying toys that they wanted for them (MINTEL-Internal Market Environment-Figure 1). In 2007, the toys and games sector in the UK was valued at around  £2.2 billion, a significant rise of 22% than when in 2003 (MINTEL- Toys and Games-UK-Nov 2008-Market in Brief: A strong market in tougher times). Christmas is usually the cause of the highest booster for sales of toys and games, bringing in half the total number sales in a year (MINTEL-Internal Market Environment-Key Points). Games Workshop PLC In 1975, Games Workshop PLC, was established in London by John Peake, Ian Livingstone, and Steve Jackson. It was listed in the London Stock Exchange in 1994. The company has since moved its headquarters to Nottingham. Games Workshop is mainly involved in producing and retailing games and toys (miniatures). The company started off with producing board games made of wood (eg. Backgammon), moved on to importing role-playing games (RPGs) from the United States and finally to where it is today, a toy and games producer, publisher and retailer. Games Workshop is well-known in the market for its collectible miniatures (toy soldiers) used in its role-playing and table-top wargames (WIKIPEDIA). Its specialty and focus is on collectible toy models targeting toy collectors and hobbyist whose favourite pastime is collecting toy models. Games Workshop has several subsidiaries, they include: BL Publishing Publishes literature and gaming materials Citadel Miniatures Produces toy miniatures collections for collectors and hobbyist Forge World Produces higher quality models for their role-playing and table-top wargames Sabertooth Games Produces card games related to their role-playing and table-top wargames produced (Wiki: Games Workshop http://warhammeronline.wikia.com/wiki/Games_Workshop#Subsidiaries) Competitors Hasbro U.K. Limited Vivid Toy Group Limited Vivid Imaginations Limited Games Workshop Limited Hornby PLC Flair Leisure Products PLC Hornby Hobbies Limited Datel Electronics Limited Rockstar North Limited Hardy Greys Limited From FAME (https://fame.bvdep.com/version-2010823/cgi/template.dll?checkathens=1kick=1 product=1user=lingd%40coventry.ac.ukpw=D341XryjGFEL77TgmOwhnA%3d%3d) Customers Collectors Hobbyist of their miniature games collection Teenagers Young Adults Global customers Market Contribution Share In 2009, Games Workshop wanted to cut cost and initiated a move to use plastic instead of metal for the production of their toy and games miniatures. It was an apparently well-accepted change by their customers as sales rose from  £110.3m to  £113.9m in 2009. http://www.ft.com/cms/s/0/719b6d28-7bbb-11de-9772-00144feabdc0.html In 2009, Games Workshop opened 10 new stores in the UK which are run by a single staff, making it easier for them to expand to smaller towns and hence more accessible to their teenage fans. These additional stores will boost Games Workshops market presence. As at January 2010, Games Workshop has expanded operations overseas to Europe, North America, Japan and Australia. However, market analysts believe that the company has potential to expand to other untapped markets. In January 2010, when Games Workshop revealed that its profit before tax achieved would surpass expectations by at least 50 percent, shares increased by 30 per cent to 333.85p. Profit before tax was initially estimated to be around  £9m as at 30 May 2010 but in January 2010, it was expected to grow by another  £5m or more by May 2010. Games Workshops gross margins have increased as a result of their cost cutting measures undertaken in 2009. http://www.ft.com/cms/s/0/afb932a0-fade-11de-94d8-00144feab49a,s01=1.html Future Forecast Games Workshop PLC should try to be more creative and innovative, launching new products constantly over the year, in order to increase sales and spread sales more evenly over the year than garnering the majority of sales only during the Christmas season. As mentioned earlier, market analyst believe that Games Workshop has the potential and capability required to further expand overseas, probably to untapped markets, such as Asia (with the exception of Japan where they already have expanded to). Furthermore, the market for toys and games are continuously increasing and expected to carry on growing in the future (internal market environment-is childhood getting shorter?). Sales recorded for toys and games have also been rising over the years and expected to continue doing so. (Market Re-forecasts-Household-UK-March 2009-Toys and Games). In the case of Games Workshop, although there was a slight drop in sales for the company in 2007, it has since been steadily increasing over the last couple of years. This could be due to the fact that Games Workshop builds up customer loyalty by offering collectibles that interested customers can only buy from the company if they want the complete collection. The excellent after-sales service provided by the company could be another factor that enabled them to earn loyalty from their customers. This is an invaluable asset to the Games Workshop as no matter what new products they offer, most of their loyal customers will support them by purcha sing their products. As long as the company continues to successfully retain its customer loyalty, it will go a long way. It is crucial for Games Workshop to constantly update themselves on the current trends and threats faced by the toys and games industry, and act accordingly by coming up with suitable strategies to ensure that the business stays profitable and hopefully gain a larger market share. Conclusion and Recommendations:

Education as a Part of the Harlem Renaissance Essay -- Harlem Renaissa

Education as a Part of the Harlem Renaissance In 1917, the United States found itself buried in a conflict with many different nations. Labeled as World War I, the United States goal was to support the fight for democracy across the world. As the war progressed, there was a need to fulfill many jobs due to the labor shortages that the North had been experiencing. To be more exact, the North received a major labor blow, due to the large enlistment of men into the Army. The draft also helped to cripple the labor supply of the North. The fact that the North was primarily industry based, caused many jobs to become vacant, and created an extremely high demand for an immediate labor force. Large numbers of African Americans migrated from the South to the North in response to the need for a steady labor force, and in hopes of finding economic growth. As World War I ended, many more African Americans migrated from the south to the north due to an overwhelmingly large amount racial tension in the aftermath of the war. This great mig ration of African Americans, from the south to the north led to black settlements in some of the larger northern industrial cities, such as Washington D.C., Philadelphia, and New York. In about 1920, many of the African Americans who had moved to the north from the south were beginning to embrace the concept of the â€Å"New Negro†, which was a movement that was not only a social revolt against racism, but also served as a literary movement, as well as redefined African American expression. This movement better known as the Harlem Renaissance was a key contributor to African Americans, and the way that their roles changed in the United States, on the road to equal rights as well as economic equality. The Harlem Renaissance will forever be remembered as the turning point in African American culture, as well as their place in America today. Harlem Renaissance An era of written and artistic creativity among African Americans that occurred after World War I, and lasted until the middle of the 1930’s depression; This is the definition that you would probably get for the Harlem Renaissance if you looked it up in a book, but the Harlem Renaissance was much more than that. The Harlem Renaissance was an expression of redefined African Americans who felt a sense of self-pride, and promoted the celebration of their African American herita... ...erature was written with such intricate writing methods, and complex undertones. The works of the period were a tough read. Many black felt the nee to be informed on what was going on in their communities. Many black journals, and magazines published and owned by black intellectuals kept blacks abreast on what was going on in the cities. Another influence of Education was an influx of black immigration from the West Indies during the 1920's. This immigration was in result of many of the Caribbean people thinking that there was a chance of greater prosperity, as well as opportunity in the United States, than in their country. New York soon began to become a center for immigration into the United States. Unlike many of the southern blacks that migrated to the north after World War I, there was almost no illiteracy amongst the immigrants. They were described as being sober-minded, and having a genius for business enterprise.† Furthermore it was mentioned that, â€Å"one-third of the city's Negro professionals, physicians, dentists, and lawyers were foreign born." Education made the Harlem renaissance a learning experience, and paved the way for other black intellectuals to emerge.

Contemporary Music Analysis and Speculation :: essays research papers

Nuova Consonanza - NC Berlino 1969 The piece begins with about 3 sounds occurring concurrently. I can identify a guitar or similar string instrument distinctly. I also hear a wind instrument drone. As the piece progresses, I hear random noises in the background. These begin with an object sliding down a wire, creating a downward scale effect. High pitched piano that is low in intensity is heard. Suddenly I hear a squeaky, high pitched sound that sounds like squeaking on glass with wet fingers. This is soon followed by clinging objects such as keys. It sounds as if they are made of plastic or wood. The squeaky sound continues and becomes more regular and frequent. Added to it is a sound similar to a xylophone. I hear objects being struck that produce different tones, medium in pitch. The mood of the piece gradually changes into a darker aura. Deeper, lower pitched percussion begins to take over as the most-noticed sound in the piece. This low percussion gets louder and more frequent, leading into some high pitched sounds that resemble an object striking wooden planks. Soon after, I begin to notice the sound of trumpets or some other brass instrument backed by low pitched percussion, such as a bass drum. The brass is joined by what sounds like a squeaky hinge for a short time. The metal-on-metal sound heard here is very distinct. These sounds gradually fade away as the piece becomes more silent. The instrumentation becomes more drone-like, resembling the beginning of the piece. After the period of reduced volume, I hear several instruments making short, fast sounds. The drone style continues, as the short, fast sounds are clearly the secondary focus. The first sound I identify sounds like a human blowing into a long tube. Next I hear a flute and what sounds like a high pitched electric motor speeding and slowing. This transitions into high pitched, continuous percussion, which sounds like cymbals. The brass heard before continues but now it is much more continuous and drone-like. After a while the volume gets louder, while the sounds continue in a drone fashion. The sounds fade away, but as the piece ends I hear springs creaking and a human inhale. As a listener I can categorize this piece into the collage category. I feel that while listening I am among a collection of objects and am free to observe any one of them at any given time.

South Africa Gdp Compared to Brazil’s

Personal quote: Through economics, engineer the world†¦ ECONOMICS 232 BRAZIL- SA REPORT Introduction In 2010, South Africa joined The BRIC and set its level of ambition not only as an African leader, but also as an emerging world class economy along Russia, China, India and Brazil. This report will analyze and look at the economic trends and fluctuations between the later and South Africa from the year 2000 to 2010 using released World Bank data. AnalysisAccording to the World Bank, South Africa GDP was of about one hundred and thirty two billion in 2000 while Brazil’s was at six hundred and forty four billion Dollars. Over the following decade 2000 – 2010, the two economies registered a considerable and equal improvement of their total production with a respective increase of 41 % for South Africa and 42% in the case of Brazil. The GDP per capita on the other hand increased at a lower rate over the same period. While South Africa leveled up by 22. 4%, Brazil bette red its GPD per capita by 25 . %. This further entails a GDP yearly increase of $ 1095 /capita with regards to the former, and $1409/capita for the later. A better look at aggregate expenditure components will provide more detailed resources in explaining the above increase of GDP within the two economies. In 2000, South Africa and Brazil consumption by households ( C ) was about 63% and 64% of GDP, largely above the rest of the components where total gross capital formation ( I ) lied low with 16% and 18% respectively, and lastly a total government expenditure ( G ) of 18 and 19%.As it appears, the two economies spent relatively equivalent proportions of their expenditure aggregate component on GDP. At the end of the decade,2010, total consumption ( C ) rose by 49 % for both economies, Investment ( I ) strongly incremented by 93% with regards to South Africa and 52% in the case of Brazil which correlated with a respective increase of 3. 17% and 45% increase in the money supply in b oth countries over the period.Parallel to the increase in GDP, the two economies registered noticeable increases of Gross Value Added ( VGA ). In fact, between 2000 and 2010, South Africa VGA increased by 38% while Brazil as usual experienced a little higher accretion of 41 %. Looking at sectorial contribution, tertiary sector imparted for more than half of total VGA in 2000 as illustrated by the graphs below. 1. 1 South Africa World Bank 2000 data analysis : Sectorial Contribution to VGA . 2 Brazil World Bank 2000 data analysis : Sectorial contribution to VGA In 2010, South Africa tertiary contribution to VGA only increased marginally by 3% and hence moved from 65% in 2000 to 68% in 2010 where it leveled up to Brazil’s. Conversely, primary and secondary sector contribution deteriorated between 2000 and 2010 . The South African primary sector declined from 3% to 2% while the secondary also experienced a marginal decline of 3%.On that point, Brazil went through proportional ch anges with secondary sector falling from 28% to 25%, leaving the primary with a small yet surprising amelioration of its contribution from 5. 60% to 5. 86% . Graph 2. 1 and 2. 2 provide a more visual depiction of the above facts. 2. 1 South Africa World Bank 2010 data analysis : Sectorial contribution to VGA 2. 2. Brazil World Bank 2010 data analysis : Sectorial contribution to VGA Besides the above increase in VGA, another important factor to be onsidered is how the level of openness of both countries drastically evolved over the decade 2000 -2010. South Africa exports incremented by 13% while Brazil’s skyrocketed by 86%. This implies that Brazil opened to the rest of the world at a much higher level, local firms growing into world competitors, which not only appreciated the country’s currency but increased its competiveness and decreased dependency on imported products. South Africa imports increased by 73% in contrast to Brazil which only increased by 21%.This high level of imports from South Africa will eventually result in the deterioration of the balance of payment. Moreover, while Brazil rate of unemployment oscillated between 6 and 9% over the decade, South Africa experienced a rather high rate of unemployment, the lowest in 2007 and 2008 with an average rate of 23% and the highest between 2002 and 2003 with an average of 31%. Conclusion This report deciphered and revealed an objective analysis of two BRICS economies, precisely South Africa and Brazil over ten years, 2000-2010. Erouane Langard 747 Words