Strategic finance issues

This analysis will financially compare Santos Limiter's financial performance for the year ending 31st December 2013 with the previous year's results, by way of ratio analysis. It will also benchmark the latest result with that of Woodside Petroleum for the same period using the same ratio analysis of the 2013 financial statements of each company.A copy of these ratio analysis are attached to this report as appendix 1, which contains a through time comparison for the last two years for Santos Limited ND the across time comparison with Woodside Petroleum for the most recent year. As Basely and Hancock (2013 p. 358) depict there are certain factors relevant to selecting an appropriate benchmark.Woodside Petroleum has been selected as the benchmarking company as Woodside also operates in oil and gas production, focusing operations within the Australian area. While Woodside operations are larger than that of Santos, the relative size of these companies is comparable and both follow the a ccounting policies required by the Corporations Act 2001 , Australian Accounting Standards and other authoritative pronouncements of the Australian Accounting standards board.Both companies are listed on the Australian Stock Exchange (ASS) which provides comparative data for the ratios analyzed and presented in Appendix 1 with the following tables; Table 1 – Profitability ratios Table 2 – Efficiency ratios Table 3 – Short-term solvency ratios Table 4 – Long-term solvency ratios and Table 5 – Market-based ratios A copy of Santos Limiter's 2013, 2012 and Woodside petroleum ‘s 2013 Annual reports are attached to this report as Appendix 2, Appendix 3 and Appendix 4 especially, for reference to the findings and suggestions outlined in this review.One limitation of the comparison is that Santos Limited reports their financial data in Australian (ALL'S) dollars, while Woodside Petroleum report their financial data in American (US) dollars. This is o vercome by using ratios for a majority of comparisons and converting the US dollar amounts into ASS dollars when required. 2. 0 Ratio Analysis To look at the relationship between figures presented in the financial statements, this report uses a ratio analysis technique. To fully understand the ratios developed e will look at them in context of other information provided in various reports and the overall goals of the company.From these ratios the report will then compare these against the benchmark and ultimately identify areas for improvement and, if necessary, change. 2. 1 Profitability. As we can see from Table 1 – Profitability ratios, the net profit margin and the gross profit margin fell 1 . 74% and 4. 26% respectively in 2013. While sales increased 1 1 . 76% for the year, the gross profit margin decreased as previously stated which, was the main driver for the decrease in net profit margin for the year as the interest expense o sales remained consistent.There was a sli ght drop in return on assets, however asset turnover remained fairly constant, highlighting that the drop in net profit margin is due to the drop in gross profit margin and not a lower turnover of assets. The reduction in gross profit margin is due to the increase in financing costs like depreciation and depletion (up 1. 5% of sales for 2013) and third party product purchases (up 5. 6% of sales). The reduction in financing income also played a major part in pushing down profits. In comparison Woodside has a higher return on assets Han Santos due to the 16. 8% higher profit margin and they turnover assets more efficiently. Also, Santos' continuing capital growth strategies in projects such as the Papua New Guiana Liquefied Natural Gas (PING LONG) and the Gladstone Liquid Natural Gas (GLEN) transformational projects which are outlined in the 2013 Annual report, are still in the developing phase, therefore not producing to generate sales until the following years. Woodside had a low co mmitment to capital expenditure for the same financial year and after selling off major capital in 2012 their use of debt as far less (shown as the leverage ratio in Table 4).The return on ordinary shareholder's equity (ROE) ratio shows the return for the shareholders who supply equity to the business. The ROE is higher for Woodside due to their higher profit margins however, the higher financial leverage ratio in Table 4 will benefit Santos' shareholders when the return on assets increases compared to the financing costs. This will happen when the above mentioned projects begin production. This is congruent with the statement in a press release by Managing Director (M. D) and Chief Executive Officer (C.E. O) Mr. David Knox on 21st of February 2014. â€Å"In particular, our natural gas reserve and resource base in eastern Australia, combined with our leading infrastructure position, leaves Santos strategically well placed to meet growing market demand,†. 2. 2 Efficiency ratio s For the 2013 fiscal year the sales and also the number of debtors increased. The use of efficiency ratios helps determine whether the increase in debtors is due to the increase in sales alone or that it is caused by the debtors taking longer to pay.These ratios show this by providing statistical relations on how effectively Santos Limited is electing its outstanding owing money and converting the inventory into sales. From Table 2 we see that comparing the last two fiscal years for Santos Limited has made improvements in their debt collection practices. The number of days taken to collect debtors accounts has reduce from 78. 71 to 65. 53 days but is still outside Santos Limiter's standard 30 days for settlement of accounts. The closing balance is showing more debtors accounts being past the 65. 3 day average for 2013 fiscal year. Comparing these figures to Santos' competitor Woodside, whose debtor recovery is loser to the standard 30 days terms at 31. 63 days. An article in the Sy dney Morning Herald depicts that the question has been asked whether there is a gas reservation policy by shareholders, of which Santos Chairman Mr. Board denies. The ratio analysis of days taken to turn inventory into sales shows a possible reason for this question arising as the number of days taken to convert inventory into sales has risen in 2013 from 52. 19 to 53. 62 days.This is only a slight increase and with an expected increase in demand, this slight rise in inventory would be expected to cover n increase in demand. However, when comparing this level to the benchmark, Woodside inventory turnover is far less at 30. 46 days for a higher sales volume. 2. 3 Short-term solvency ratios While the previous ratios focus on performance of the company solvency ratios focus on assisting the company with decisions, short term and long term. Table 3 shows the short-term solvency ratios which assist in the short term decision making.The current ratio is the most basic test as to how liqui d a company is. It expresses a company's ability to meet its short-term liabilities with its short-term assets. A current ratio greater than or equal to one indicates that current assets should be able to satisfy short-term obligations. A ratio less than one indicated an inability to meet short term requirements. The quick ratio calculated for 2013 compared to 2012 shows the company's ability to pay is has reduced to below the 1:1 ratio, expressing that should the company be required to pay all current debts immediately, they could not do so.Due in part to the reduction in cash levels reducing the current assets from 34. 6% to 20. 3% of net assets. Also increases in the amount of short term interest bearing borrowings increases the current liabilities from 13. 6% of net assets to 16. 9%. With the less cover to pay the increase in short-term liabilities, there is a higher financial risk. When comparing these ratios to that of Woodside, Canton's short term debt paying ability is carry ing greater risks, but comparable with this benchmark. While the quick ratio decline to . 3:1 is cause for concern, the Cash flow from operations to current liabilities ratio shows that 94% of current liabilities can be covered with operational cash flow. Compare this to Woodside, which can easily cover rent liabilities with 141% of its current liabilities covered with operational cash flow. 2. 4 Long-term solvency ratios As the short-term financial risk has previously been expressed, the long term decisions can be assisted by the long-term solvency ratios expressed in Table 4. The debt to equity ratio compares the total liabilities of Santos Limited and compares it to the each dollar of shareholder's equity.During 2013 Santos' reliance has risen due to the increased borrowings and interest bearing loans, so for every $1 of shareholder's equity there is $1. 02 worth of debt obligations. This level of debt is double than that of our benchmark, Woodside Petroleum however, the debt to total asset ratio suggests there is enough assets to cover the debt long term. This might put the company under financial risk and indicate high use of debt compared to shareholder's equity and a greater financial risk long term. This increases the cost of interest in operation, effecting negatively on profitability.The interest coverage while currently is below the industry benchmark, there is sufficient coverage to ensure interest payment obligations will be met. The amount contributed to the long term room each $1 of operating cash flow has also been significantly reduced, moving further away from the benchmark company. This will increase interest costs long term however, also effecting profit margins. 2. 5 Market-based ratios The price per earnings ratio shown in Table 5 show how much the market would pay for shares of stock of the company per dollar of reported profit.About. Coma's business finance reporter Rosemary Palaver suggests that the average price to earnings ratio is a round 19 with Santos' ratio higher at 27. 68 and the benchmark, Woodside, ratio marginally lower at 17. 49. Reasons for Santos' higher than average price per earnings ratio would be due to the potential for Santos increase earnings per share in the foreseeable future and investors are trading accordingly. Other reasons for a high ratio are when companies are in a growth phase, which Santos' financial statements suggest it currently is not.A high ratio also suggests that the company has financial risk which was expressed in the short-term and long-term solvency ratios. While the market is willing to pay a higher price for investment in shares per dollar Santos reports as profit, the earnings yield assists in evaluating whether returns on investment compensates the risk adequately. The yield of 3. 61% for 2013 is down on sass's 4. 53% and short of Woodside 5. 72%, which is at a lower risk. Thus, Santos' shares did not perform to the industry benchmark and shareholders are not getting the yield expected for their investments.Dividends are also low, reflecting the company's growth positioning for the coming few years. 3. 0 Recommendations The increase in growing demand as expected by Mr. David Knox in a release and the move into production phase of the PING project will generate extra operating ash, primarily with already obtained assets. Therefore the focus moving forward should be reducing the financing costs involved in the cost of goods sold. This will in turn increase profit margins, giving a greater return on assets due to lower interest costs, moving margins closer to that of the benchmark Woodside Petroleum.The rate at which inventory is used to generate sales should be reviewed as it is slightly behind the benchmark. One suggestion to come from these ratio findings is that debtor control needs to be tightened which in turn will improve operations cash flow. Steps have been taken during the last fiscal year to reduce the number of days to collect outstandi ng debtor accounts, further improvement will also increase operating cash flow which will reduce the financial risk of the company to pay its current liabilities.The inventory level should be reduced to be more comparable to Woodside and increasing the quick assets level used to repay current liabilities. Further to assist in reducing the risk associated with the company's short-term solvency would be a focus on reducing the current interest-bearing loans and borrowings. 4. Conclusion. Through the usage of ratio analysis this report has analyses Santos Limiter's financial performance over the last two years and benchmark it against Australia's largest oil and natural gas producer.There are several other factors influencing position and performance like international economies, competition and major long term growth projects etc. These play a decisive role in the changes in profits, earnings yield and dividend yield. The last two years have seen Santos' profits and stock performances below industry averages but this is large in part to the investment in growth opportunities, which will begin production in the near future. Some findings and recommendations have been made to improve the financial position of the company so the entity and the shareholders that have invested in it can prosper.Although the companies are in the same field, factors like subsidiary companies or having some different end product can create problem in comparing the companies. The economic condition in the different region and the accounting techniques adopted by these companies while computing ratios and financial tenement also decreases the credibility of the calculation (Charles and Patricia, 1983) 5. 0 References Charles H. Gibson & Patricia A. Brush-off. 1983. Z ND Edition. Kent Publishing Company.

Explore the ways in which Shakespeare presents male characters Essay

The female characters in ‘Hamlet’ have several vital roles within the play that serve to add depth and interest to the overall plot. Shakespeare employs the women to emphasize key themes such as betrayal, that might not otherwise be drawn out, and also enable the audience to gain a deeper understanding of the main male characters through the way in which they view and treat women. It is important to closely examine the male-female interaction and relationships in order to understand how Shakespeare uses the women as a dramatic device. The main male characters of Hamlet, Claudius, Polonius and Laertes are repeatedly shown to possess negative attitudes towards women. These attitudes result in unjust, oppressive and abusive relationships with the female characters of Gertrude and Ophelia. The primary male character, Hamlet, bears no exception to this general negativity directed at women. Shakespeare presents Hamlet as a man with a progressive hatred of womankind, having a detrimental influence upon his relationships with the female characters. Shakespeare implies the reason for Hamlet’s increased negativity to be his mother’s remarriage to his uncle, Claudius. The extent this has affected Hamlet is implied through repeated mention of it, such as in his second soliloquy when he speaks of Claudius’ two crimes as making his mother a â€Å"whore†¦ and the murder of [his] father†. Here, Shakespeare uses the order in which Hamlet lists Claudius’ crimes to convey which event Hamlet views most severely. Damage caused by the remarriage is again seen through Hamlet’s resulting negativity towards women. One such attitude is the belief that women are overtly sexual. Upon Hamlet’s ‘Chance’ meeting with Ophelia, he comments unfavourably on her tendency as a woman to â€Å"jig†, â€Å"amble† and â€Å"lisp†. Shakespeare’s chosen combination of verbs implies that Hamlet thinks women to have an inherently flirtatious nature. Hamlet also speaks to Ophelia of women’s â€Å"wantonness† becoming their â€Å"ignorance†, implying that sexual desires become their downfall. It seems that this view of women as sexual tempters leads Hamlet to believe that they should be ‘cut off’ from men, so as not to cause men detriment. Shakespeare conveys this through Hamlet’s instruction to Ophelia to â€Å"get thee to a nunnery†; repeating this line to demonstrate his conviction that women should remain separate so their overtly sexual nature cannot negatively influence men. Shakespeare emphasizes this through the forceful language Hamlet uses to instruct Ophelia in this action, for example â€Å"go, and quickly too† and that she must â€Å"go now†. Through Hamlet’s repetition of the imperative verb â€Å"go†, Shakespeare conveys his commanding tone, leaving the audience with no doubt of his vehemence. Shakespeare again shows Hamlet’s problem with women’s sexuality through his repulsion at his mother’s relationship with Claudius. In Hamlet’s first soliloquy he speaks of the speed of the marriage, saying how Gertrude did â€Å"post with such dexterity to incestuous sheets†. Here, Shakespeare’s repetition of ‘s’ sounds acts as a sibilant to emphasise that Hamlet is hissing the words, conveying disgust at his mother’s remarriage and sexual relationship. In negatively viewing the sexuality of both women in his life, Shakespeare hints that Hamlet not only has a problem with them individually, but that his grudge also lies with womankind. This is epitomized through his suggestion to Ophelia at the ‘Chance Meeting’ that there should be â€Å"no more marriage†, thus effectively terminating sexual relationships. Hamlet’s disapproval of women’s sexuality is linked with his belief that they have a ruinous influence upon men. Shakespeare shows this attitude through the way that in the ‘Chance Meeting’ with Ophelia, Hamlet suggests that women in general corrupt men, saying â€Å"wise men know well enough what monsters you make of them†. Shakespeare again shows Hamlet blaming women for men’s faults including his own ‘insanity’, saying their flirtatious games â€Å"hath made [him] mad†. Thus, Hamlet is shown to hold women as scapegoats, accountable for men’s faults. Hamlet’s negative attitudes of women combine to produce unequal and oppressive relationships with both women in his life. Shakespeare demonstrates the imbalance in Hamlet’s relationship with Ophelia through the way the two characters treat one another so differently. Whilst Hamlet carries out a character assassination of her in the ‘Chance Meeting’ saying that she is â€Å"corrupt† and a â€Å"sinner†, Ophelia glorifies him. Ophelia implies that Hamlet is awed saying he is â€Å"observed† and the â€Å"glass of fashion†. Also, Ophelia believes him to be of good character, saying he has a â€Å"noble mind†. This suggests Ophelia’s adoration of Hamlet, prior to his ‘madness’, and hints at her love for him. Through this contrast between Ophelia’s treatment of Hamlet with his of her, Shakespeare indicates who dominates their imbalanced relationship. The result is confusion and pain for the subservient Ophelia, shown through her repeated questions such as â€Å"what means this my lord? † and her declaration of grief at Hamlet’s rejection, proclaiming â€Å"O woe is me†.

Job Design and Work Diversity Essay

Introduction In the current business environment, human resource management (HRM) has become an important role for an organisation. HRM refers to the policies, practices, and systems that influence employees’ behaviour, attitudes, and performance (Noe, Hollenbeck, Gerhart, & Wright, 2010). It is important because HRM helps the company to achieve the goals and improve employee’s performance. One of the HRM roles is to have an impact on the management performance of job design and work force diversity. Due to the definition of job design, it helps to defining how work will be performed and what impact will be given in performance. On the other hand, work force diversity also has impact on HRM to managing people’s similarities and differences. The aim of this paper is to conduct a literature review on what role job design and work force diversity play in attempts to improve individual and organisational performance. Job Design In terms of job design, many aspects of HRM formulation address how the work gets done. As said by Garg and Rastogi (2006), HRM has become one of the internal factors of the organisation that play a vital role in motivating the performance of employees. It is an essential part of every manager’s  responsibility to make sure the employee has the right knowledge, skills and abilities to perform their job. The purpose of job design is to discuss what is needed from the job and the employee. There are four types of approaches that can be used in job design. They are the mechanistic approach, the motivational approach, the biological approach, and the perceptual approach (Noe, Hollenbeck, Gerhart, & Wright, 2010). Studies from Hackman & Lawler (1971) and Hackman & Oldham (1976,1980) has indicated one of the model of how job design affects employee reactions is the individual-job design model, also known as the Job Characteristics Model-JCM (cited in Goris, 2007). Torraco (2005) also has recognized that â€Å"the JCM has had a persistent influence on work design practices and has accumulated an impressive amount of related research† (cited ini Goris, 2007, p.738). Another aspect that has been discussed is ergonomics, which also plays a vital role in job design and influencing the motivational level of employees. Designing job ergonomically will help employee to avoid musculoskeletal injuries and awkward postures, also has a safe working condition (Garg & Rastogi, 2006). Based on research by Lantz and Brav (2007), job design and work routines have been shown strong effects on reflexivity, learning processes, and outcomes such as effectiveness, productivity, and job satisfaction. Job design has made positive impact for group processes and individual performances. Earlier studies (Brayfield and Rothe, 1951) said that global satisfaction has reflected a generalized or an overall evaluation of an employee toward his/her job (cited in Frimpong & Wilson, 2013). Evans (1969), Fisher (1980), Ironson et al. (1989) and Brown & Peterson (1993) have indicated three ways to measure job satisfaction. They are global, narrow and multidimensional measurements (cited in Frimpong & Wilson, 2013). Although job design sounds as a common problem in every company, it holds key to developing and maintaining a compe titive advantage. Manager has the important role to know and understand the entire workflow process in their work unit to ensure that the process going effectiveness and efficiency. Halachmi (2005) pointed out that the basic premise of the concept of performance management is great performance, whether by an individual or by a group is very unlikely to happen on its own. Workforce Diversity Stockdale and Crosby (2004) have defined diversity management as â€Å"a voluntary and planned program designed to make differences between employees a source of creativity, complementarity and greater effectiveness† (cited in Alcazar et al. 2012, p.512). Diversity is viewed as a key to strengthen the human and intellectual capital of business through effective communication and negotiation (Okoro & Washington, 2012). Moreover, diversity has becoming a great factor for recruitment, productivity, relationship, and competitiveness of the organisations. There are many advantages that come up from workforce diversity. Friedman (2005) and Gupta (2008) concurred that a diverse workforce can provide a fabulous advantage by employing new idea and communication skills, thus providing diversity thoughts from employee that will give better result in solutions and decision-making (cited in Okoro & Washington, 2012). Education and communication has become the key to transform the behaviour of the employees in terms of embracing and accepting diversity. According to Kundu (2003), he has categorised the benefits that organisation can achieve for creating a diverse workforce, such as organisation can provide better service because they understand customer’s needs (Wentling & Palma-Rivas, 2000); diversity will help organisation to enter the international area (Cascio, 1998); can enhances creativity and innovation (Adler, 1997; Jackson et al., 1992); produces competitive advantages (Coleman, 2002; Jackson et al., 1992); organization can suc ceed at diversity if they have initiative to create, manage and value the diverse workforce has the full support of the management (Hayes, 1999; Jackson et al.,1992). On the other hand, the literature also has explained that the perception of differences thought among employees could produce negative impact within the group (Alcazar, 2013). William and O’Reilly (1998) pointed out that mismanaged diversity initiatives and implementations could negatively affect organization’s performance and processes (cited in Bergen, 2005). In addition, Devoe (1999) and Esty et al. (1995) argued that managers might be faced the losses due to personnel and work productivity and negative attitudes and behaviours from the employee. Therefore, before designing an  idea for managing diversity, it is necessary to define and analyse clearly all of the kinds of differences that the organisation needs to manage (Alcazar, 2013). Manager should be aware of the values of understanding, appreciating, and respecting human and cultural differences to be effective in interacting across cultural organisations (Okoro & Washington, 2012). Furthermore, it is critically important for managers to understand the importance of workforce diversity and effective communication in achieving the objectives of organisations and academic institutions. Conclusion Both of job design and workforce diversity have equal impact in attempt of HRM. Job design helps managers to developing and maintaining a competitive advantage in organisation. Beside that, managers need to know and understand clearly the entire workflow process in their unit. The other advantages of job design can identify employee’s knowledge and skills. It will help managers to determine employee’s position and job precisely. On the other hand, diversity also has important role in HRM. Organisation can have many advantages from implementing diversity into their business. For example to enhance creativity and innovation in the organisation and have better idea for decision-making. As a manager, it is necessary to analyse and define the differences in the organisation that needs to manage.

Financial management Essay Example | Topics and Well Written Essays - 250 words - 3

Financial management - Essay Example Following are some techniques that are used in investment appraisal of the project. The basic advantage of this technique is that ROCE is much simpler than other methods and can links with other accounts easily. But seeing as both side of coin ROCE also have some disadvantages like ROCE is not an absolute measure of the project life and timing of cash flow is not considered in this method. Net Present value (NPV): NPV simply means that what is the value of future flows in current terms. It is considered to be a superior to most of other methods. It consider the time value of money and an absolute measure of return but it also have some disadvantages like it is difficult to calculate and difficult to explain to managers. Internal rate of return (IRR): IRR represent the discount rate at which NPV of an investment is Zero. It represents the breakeven cost of capital. As other techniques IRR has also some advantages like it consider the time value of money and use cash flows rather than profits. The main benefit of the IRR is that it is in percentage therefore easily understood by the managers. But as other methods IRR has also some disadvantages like it is not absolute measure of probability and also complicated to calculate. The cost of capital is the rate of return that the enterprise must pay to satisfy the providers of funds, and if reflect the riskiness of providing funds. Valuation of cost of capital is depend upon is based upon these certain

Comparison of Desk Suit with Chest of Drawers in Relation to Essay

Comparison of Desk Suit with Chest of Drawers in Relation to Surrealism - Essay Example The essay "Comparison of Desk Suit with Chest of Drawers in Relation to Surrealism" analyzes similarity and contrast of two paintings. The paper provide a comparison of Desk suit (1936) with Chest of drawers (1936) in the context of surrealism. Surrealism was a cultural and literary movement that promoted the automatic and creative thinking among members of a society. The two painters were among the major proponents of the cultural and artistic movement. Their two paintings are therefore fundamental in fostering the growth of the ideologies at the time. In the first section will be discussed Salvador Dali’s painting and in the second will be discussed Elisa Schiaparelli’s painting. / The painting is an artistic masterpiece that embodies the dictates of surrealism. The painting of a human with his bodies partitioned by drawers is a representation of Sigmund Freud’s psychoanalysis. Art is a cultural product that often criticizes and represents the society. Sigmund Freud developed unique ideas of psychology that remains essential to the study to date. As such, Dali borrowed his ideas at the time to visualize the dictates of his ideologies. The artistic painting is an imaginative representation of Freud’s unique psychology that assets that the human body consists of platonic. The separate drawers represent the various secrets that a human keeps all of which are accessible only through an effective psychoanalysis as proposed by Sigmund Freud. The painting is unique as it communicates to a specific audience.

Attitude Toward Aging Process Essay Example | Topics and Well Written Essays - 500 words

Attitude Toward Aging Process - Essay Example They are faced with other complications such as hearing and eyesight impairment, memory loss and diminished joint mobility. Wrinkling of skin We need to infuse change in the nurses' attitude since they are not just interested in the status of elderly health. For this case this negative attitude should be changed fro them to be able to serve elderly people with confidence in future. The medical curriculum recommended interdisciplinary subject that includes multiple specialty subject on aging process and a number of diseases of elderly people. The subject provided both community and hospital based teaching materials. Since then there are a number of theory have come up to explain the aging process. (Rieder, 2004) These theories are the wear and tear theories and Genome based theories. The wear and tear theories are old theories which include; cross linkage theory, free radical theory, error catastrophe theory and the waste product accumulation theory. On the other hand, the genome based theories are the most recent theories of the aging process and they include; somatic mutation, finite doubling potential of cells and the programmed aging. (Rieder, 2004) According to Reider (2004), people with over 65 years in United States most often spend a lot of their time in health care than those below the age of 65 years.

Developing a better understanding of film-making and remakes Essay

Developing a better understanding of film-making and remakes - Essay Example It shall discuss the idea of remaking flexibly, choosing to deal with cross-cultural remaking, including substantial elements of film-making. Issues of production, text, reception, and cultural translations shall be considered in this paper. This paper is being undertaken in order to develop a better understanding of film-making and its processes, including its interpretations of materials into various genres, languages, cultures, and conceptualizations. This paper shall first provide a brief comparative summary of both films, and then provide a deeper assessment of the film-making remaking concepts seen and applied in the movies. It shall end its discussion by summarizing and concluding the relevant elements of this analysis. Body Ringu After teenagers watch a tape which is rumoured to be cursed, the teenagers soon die one after another through mysterious circumstances, most common of which is fright. One of these teenagers is the niece of Reiko, an investigative reporter who was th en prompted to investigate the story of a mysterious tape which is reportedly killing off anyone who watches it. During her investigation, she discovers that the face of teenagers who have watched the tape have been distorted somewhat. A cabin in the woods is also pictured in the pictures. Reiko proceeds to the cabin and ends up watching the tape herself. Soon after watching , she receives a phone call telling her that she would die in a week. She then seeks the help of her ex-husband Ryuji who also proceeds to watch the video. Her son finds the tape and watches it as well. A copy of the tape was made for them to study. They find a hidden message on the film which leads them to the Izu Oshima Island where they find out that Sadako, who is allegedly committing the murders, was killed by her father. Thinking of appeasing Sadako, they find her watery grave and try to free her vengeful spirit. However Sadako is still very much vengeful and, after tangling with Reiko, falls back into the well. When nothing happens to Reiko, they assume that the curse is broken. This proved to be wrong when the following day, Ryuji is killed by Sadako. Reiko soon finds out that since she made a copy of the film and let her ex-husband watch the movie, she broke the curse for herself. But the curse on her husband was not broken and caused his death. In order to prevent the death of her son, she makes a copy of the movie to pass on. The movie ends then, implying that the cycle, very much like a ring would never end. The Ring In the American version, the story more or less follows the Japanese plot. Minor differences are seen with the characters primarily being American, Rachel matching Reiko’s character; Aidan being Rachel’s son, and Noah, being Rachel’s ex-boyfriend as opposed to ex-husband. Understandably, since the movie is an American interpretation, the island where the images in the cursed film were seen is known as Moesko Island. Sadako’s American cou nterpart is known as Samara. Analysis In general, the remake primarily proceeded as an Americanization of the Japanese version, from the characters, names, settings, and naturally, the language. On a deeper context, there are other elements of the remaking process which impacted on the movie’s translation and interpretation. There are three important and applicable terms in assessing remakes, and these

Summary Essay Example | Topics and Well Written Essays - 1000 words - 1

Summary - Essay Example The article used the annual report that was allegedly published by the Organization for Economic Cooperation and Development (OECD) and was just recently made available. As disclosed, the OECD report contained as much as 565 pages and detailed an array of education-related topics relating from early childhood to the pursuit of higher education. The trends were noted to have been gathered, collected, and presented with information from members of OECD member countries such as Australia, Israel, Japan, Korea and the United States (Redden par. 1). Likewise, other relevant education trends were also gathered from specifically mentioned countries which allegedly belong to the Group of 20, but were non-OECD member countries, such as China, Brazil, and India. In discussing the topic on education and the recession, the author noted that the major developments in higher education pertained to the effect of gaining a college degree on the rate of unemployment. As stated, graduates of higher ed ucation were less affected by unemployment, as compared to high school graduates. The statistics that were noted included the following: â€Å"unemployment rates for college degree holders rose from 3.3 to 4.7 percent from 2008 to 2010, compared to an increase of 4.9 to 7.6 percent for those who had only completed secondary education† (Redden par. 2). It could therefore be deduced that for college degree holders, the unemployment rates grew only by as much as 1.4%, as compared to the 2.7% growth rate in unemployment for students who were noted to have only completed secondary education. Likewise, Redden also emphasized that those who pursued higher education and graduated with degrees were lesser prone to be affected by widening wage gaps. It was specifically cited that â€Å"while in 2008 a man with higher education could expect to earn 58 percent more than his counterpart with a secondary degree -- and a woman 54 percent more than her counterpart -- by 2010 these figures h ad increased to 67 and 59 percent, respectively† (Redden par. 3). The wage gap was more prominent for males at 9% gap from 2008 to 2010, as contrasted to the wage gap disclosed for women at only 5% from the same period. The statistics on student mobility was also expounded. Trends on students opting to study in foreign countries were most prominent during the decade where percentage increase of 99% was revealed from the 41,000 in 2000 to 4.1 million in 2010. Likewise, Redden disclosed that more than 52% of these students who travel to other countries were of Asian descent. From among the countries mentioned to be preferred as destinations for educational pursuits, the following were revealed in descending order: †United States (which attracts 17 percent of all international students), the United Kingdom (13 percent), Australia (7 percent), France (6 percent), and Germany (6 percent)† (Redden par. 6). Another interesting fact was that although the United States was the top preferred destination for pursuing higher education by foreign students, the 17% rate was actually a significant decline from a high of 23% in 2000. In discussing the degree attainment and access, Redden focused on presenting findings in terms of percentage of an identified population or age-range (25- to 64-year-olds) attaining higher education; the role and performance of gender, specifically women who pursue

Geriatrics Assignment Example | Topics and Well Written Essays - 750 words

Geriatrics - Assignment Example search requires methods spanning the momentum of enquiry ranging from new concentrated studies to a multisite in evaluating the implementation of valid interventions and care models (Aldridge, 2013). The research employs sampling and analysis as the research techniques. Dyer et al. (2007) defines self-neglect as an individual’s inability to cater for his or her essential goods and services. The victims of this state are the elderly with major deficits in the physical, social, and functional life, in most cases predisposes to death. The research seeks to give a description of 538 cases of self-neglect findings by a previous survey conducted by an interdisciplinary geriatrics medicine team. The article provides data on demographic medication, use of medical diagnoses and the consequences of assessment of the geriatrics in a large sample (Dyer et al., 2007). The article validates the capability of ICECAP-O measure in the psycho-geriatric in nursing facility by comparing the capability performance by the unrestrained and the restrained individuals. ICECAP-O refers to ICEpop CAPability measure for older people, which asserts that services in the elderly wards mainly suffer from cases of advance dementia. However, evaluation of the challenge is a cost-effective analysis. The Makai at al. (2012) adds that geriatrics services impacts on life quality in a broad way such as constraining the elderly from some daily activities to limit self-injuries. The research sampled the elderly from the nursing homes to determine the validity of the ICECAP-O. The validity became successful by comparing restrained individuals to another group of non-restrained members, to deduce its impact on benefits beyond healthcare (Makai at al., 2012). The article reveals the impact of rural based geriatric services. The elderly living in the remote areas lack special geriatric care hence a rural clinic is essential for the provision of primary healthcare for such individuals. Even though the

The Modern Era Essay Example for Free

The Modern Era Essay Early Modern World Historians sometimes refer to the era between the premodern (or medieval) and late modern eras as the â€Å"early modern world.† The world during this era was increasingly united by the projection of European power abroad, especially in the Americas. Although early modern Europeans still had little knowledge of, let alone hegemony (influence) over, the inland regions of Africa and Asia, the links created and dominated by Europeans made the entire world a stage for fundamental historical processes. Historians debate, or pass over in silence, the problem of determining the precise starting and ending dates of the early modern world and have produced only the vaguest consensus. Roughly, the era of the early modern world began during the fifteenth century with the Timurid (relating to the Turkic conqueror Timur) and Italian cultural renaissances. The year 1405 serves as a convenient starting date because it marks not only the death of Timur, the last great central Asian conqueror to join farmers and nomads into a single empire, but also the first of the Chinese admiral Zheng He’s (c. 1371–1435) naval expeditions to the â€Å"Western Oceans.† The era might be taken to end in the late eighteenth century with the French and Industrial revolutions, both European events of global consequence in the late modern world. The uncertainty of this periodization derives in part from the concept of an early modern Europe, with its own uncertain chronological boundaries, and in part from the unconsidered way in which both phrases entered historical scholarship. Origins of the Concept Although conceptually the phrase early modern world is an extension of the phrase early modern Europe, the initial histories of both phrases have some surprises. The earliest known appearance of the phrase early modern world occurs in Willard Fisher’s â€Å"Money and Credit Paper in the Modern Market†Ã‚  from The Journal of Political Economy (1895). Although Fisher writes, â€Å"We all know that the system of bank credits and bank money, which was introduced into the great commercial centers of the early modern world, has now attained a quite marvelous development† (1895, 391), the geographical sense of his statement is strictly, if implicitly, European. On the other hand, the phrase early modern Europe first shows up twenty years later, in Dixon Ryan Fox’s â€Å"Foundations of West India Policy† in Political Science Quarterly (1915). Fox remarks, â€Å"It was now realized by students of colonial history that in the Caribbean [the â€Å"West India† of the article’s title] might best be traced the application of those principles which formed the working basis for the old empires of early modern Europe† (1915, 663). Ironically, the phrase early modern Europe first appeared in the Caribbean, in the global context of colonialism, in an article advocating trans-Atlantic history. In their debu ts each phrase bore something of the other’s sense. Fox’s usage was an anomaly, and when the phrase early modern Europe arrived in Europe, it had come to stay. The phrase early modern world, however, for decades would imply world to mean, in an indefinite way, immediate rather than global surroundings; because this historical scholarship dealt with European subjects, the â€Å"early modern world† was in fact â€Å"early modern Europe.† The early modern world became global only with C. F. Strong’s grammar school textbook The Early Modern World (1955) and S. Harrison Thomson’s 1964 review of J. H. Parry’s The Age of Reconnaissance, in which Thomson uses the phrase to describe the â€Å"story of the successive expansion of European venture, from Africa to the reaches of the Indian Ocean by Arabs and Portuguese by sea, the movement westward to the Americas and the early transition from discovery to fishing, trading, and exploitation†(1964, 188). The first considered analysis of the early mo dern world came after the posthumous publication of Joseph Fletcher’s article â€Å"Integrative History† in 1985. Such analysis has tended to adopt either a deductive or an inductive approach. Deductive Approach A deductive approach to the early modern world compares premodernity and late modernity, devises the characteristics necessary to bridge the two stages, and only then seeks confirmation in the historical record. This approach assumes the existence of a modernizing trajectory, which the early modern world shared with (and perhaps inherited from) early modern Europe. Informed by a Marxist perspective, the essentials of the early modern world would highlight transitions from feudal to bourgeois, from serfdom to wage-earning proletariat, and from local subsistence to regional market economies. A functionalist understanding of modernity, of the sort theorized by the German sociologist Max Weber, the U.S. sociologist Talcott Parsons, or the French sociologist Emile Durkheim, explains social phenomena in terms of their ability to fulfill social needs and broadens this base beyond the mode of production. Here the critical shifts would be from belief in miracles to belief in science, from household-based craft production powered by muscle, dung, water, and wood to factory-based mass production powered by electricity and fossil fuels, and from government justified by tradition to government consciously invented. Even in the context of early modern Europe critics challenge the effectiveness of a deductive approach by condemning its implication of an inevitable progress from premodernity to modernity. A deductive approach takes little cognizance of the possibilities of various starting points, different destinations, and particular paths. In some twentieth-century cases the transition to modernity was less a progression than a violently dramatic change. When expanded to a global context this approach becomes not only teleological (assuming a design or purpose in history), but also artificially Eurocentric. Inductive Approach Rather than specify theoretical factors to be sought in the time period, an inductive approach examines what happened in different places and extracts from what happened a set of common features. Although such an approach removes the theoretical obstacle of a modernizing trajectory, the historian is left with the Herculean task of specifying processes that united all,  most, or many of the world’s peoples. Such an approach need not focus on Europe, nor need it measure the success of various regions in terms of their progress along Europe’s path. How closely do the rough chronological parameters suggested here match the conventional historiographies (the writings of history) of the various regions outside Europe?  Traditional periodizations in African and American history are directly linked to European expansion. Marked by a European presence that could not yet dominate the continent, an early modern Africa might last from the Portuguese capture of Ceuta, a port on the Moroccan side of the Strait of Gibraltar (1415), until the development of quinine and steamships in the nineteenth century. The first Niger steamship expedition returned without casualties in 1854. An early modern America might stretch from the encounters of 1492 until the period of independence movements, from 1776 to the independence of Brazil in 1822. An early modern India might begin with the fifth generation descendant of Timur, Zahir-ud-Din Muhammad Babur, whose ancestry inspired him to conquer northern India. The Mughal dynasty he founded (1526) would rule effectively for two centuries; the British would take charge of its Delhi nucleus in 1803. An early modern Japan stretches from the unification efforts of Oda Nobunaga (1534–1582) to the end of the Tokugawa shogunate (the dictatorship of a Japanese military governor) in 1867. Other regional historiographies fit less naturally. Although the Ottomans’ 1453 conquest of Constantinople (modern Istanbul, Turkey) was timely, the Chinese Ming dynasty began too early (1368) and ended inconveniently in the middle of our early modern period (1644). Worse, key modernizing revolutions came late relative to the western European timetable the Chinese Revolution in 1911, the Russian Bolshevik revolution in 1917, and the Kemalist (relating to the Turkish soldier and statesman Kemal Ataturk) revolution in Turkey in 1923. The actual use of the phrase early modern in the periodization of regional histories varies. Outside of Europe, it is most commonly used in Asia, especially in works on China, Japan, and, to a lesser extent, India. Historians of China sometimes extend the period into the twentieth century. Far fewer historians write of an â€Å"early modern Africa† or an â€Å"early modern Brazil.† This fact is due in part to the power of the word colonial to identify these time periods. Latin American periodization is so consistently divided into pre-Columbian, colonial, and national periods that there is no need for the phrase early  modern, which should correspond to the middle, colonial period. In fact, the phrase early modern Mexico sometimes refers to the period immediately after independence. The divergence of these traditional periodizations of regional histories, so often linked to high-level political history, should not surprise. The global historian in search of an early modern world can look beyond these periodizations to seek processes that enveloped wide swaths of the planet. Development of Global Sea Passages Nothing is more characteristic of the early modern world than the creation of truly global sea passages. Before 1492 the Americas remained essentially isolated from Eurasia. In 1788 the last key sea passage was completed by the first permanent settlement of Europeans in Australia. This passage also concluded the integration of the Pacific Ocean as a geographical concept, a process that began when the Spanish explorer Vasco Nuà ±ez de Balboa became the first European to see the Pacific from America in 1513. During the early fifteenth century the Europeans were unlikely candidates to fill the key role in this process of exploration. Portuguese exploration of the African coast was declining, and mariners were reluctant to sail out of sight of land. Even the overland excursions undertaken by Europeans had become more modest. Muslims still controlled southern Iberia, and in 1453 the Ottomans conquered Constantinople. Smart money would have looked rather at the Chinese admiral Zheng He, whose seven expeditions between 1405 and 1433  reached even the shores of eastern Africa. A change in Chinese imperial policy halted these expeditions, and the voyages that finally connected the world were directed by Europeans. In 1522 the survivors of the expedition of the Portuguese navigator Ferdinand Magellan completed the first circumnavigation of the globe. During the following centuries a skilled captain and crew could navigate a ship from any port to any port and reasonably expect to arrive. In 1570 the Flemish cartographer Ortelius published what has been described as the first modern atlas, the Theatrum orbis terrarum (Theater of the World); this comprehensive yet handy and inexpensive work enjoyed immediate success. By the end of the period the best mapped region of the world would be China. Global Demographic Interconnections The world’s population doubled during the early modern period, from approximately 374 million (1400) to 968 million people (1800). Although demographic data are limited, some patterns emerge. Rapid growth was punctuated by a seventeenthcentury decline in Europe, Russia, Iran, Central Asia, China, and Korea and recovery from this decline occurred globally, even in the Americas. The more populous regions tended to grow more rapidly. The new global sea passages set the stage for a transatlantic â€Å"Columbian exchange† (the biological and cultural exchange between the New World and the Old World that began with the 1492 voyage of Christopher Columbus) and for a transpacific â€Å"Magellan exchange† of crops and disease pathogens that put the peoples of the world in a more direct demographic relationship than ever before. The arrival of American maize and potatoes in Eurasia, and later in Africa, facilitated an intensive agricultural, and thus demographic, growth, and the appearance of tomatoes in Italy and chili peppers in India had important dietary and culinary consequences. Disease also became a global phenomenon. First appearing in Europe in 1494, venereal syphilis reached India four years later, and by 1505 it had  outraced the Portuguese to China. The New World’s isolation and limited biodiversity (biological diversity as indicated by numbers of species of plants and animals) did not afford its indigenous peoples the same immunities enjoyed by Europeans, who as children were exposed to a multiplicity of infections. Measles, smallpox, and other diseases brought by Europeans triggered a long-term demographic catastrophe. The indigenous population of central Mexico declined from 30 million in 1518 to 1.6 million in 1620 a genocide unintended, misunderstood, and undesired by the Spanish who sought souls for salvation and laborers for their mines. Contact with the wider world wrought similar demographic calamities on other isolated peoples, including Pacific Islanders, Siberian tribes, and the Khoikhoi of southern Africa. Increased contacts distributed pathogens more evenly throughout the world and generally reduced susceptibility to epidemic disease. Development of a Global Economy The development of global sea passages integrated America into a truly global economy. Rapidly growing long distance commerce linked expanding economies on every continent. Dutch merchants in Amsterdam could purchase commodities anywhere in the world, bring them to Amsterdam, store them safely, add value through processing and packaging, and sell them for profit. Intensive production fueled by the commercialism of an increasingly global market gave new importance to cash crops and sparked an unprecedented expansion in the slave trade. The movement of manufactured goods from eastern Asia toward Europe and America created a chain of balance-of-trade deficits, which funneled silver from American mines to China. Regular transpacific trade developed during the decades after the founding of Manila in the Philippines in 1571 and followed the same pattern: Exports of porcelain and silks from China created a trade imbalance that sucked silver from the Americas and from Japan. Through military-commercial giants such as the Dutch East India Company (founded in 1602), European merchants disrupted traditional trading  conditions in Africa and Asia to muscle into regional â€Å"country trade.† The expansion of settled populations, as well as the new ocean trade route alternatives to the Silk Road that linked China to the West, contributed to the decline of nomadism. The agriculture of settled peoples supported large populations and tax bases that an efficient state could translate into permanent military strength. Development of Large and Efficient States The global trade in firearms and similar weapons contributed to the growth of large and efficient states, known as â€Å"gunpowder empires.† Expensive and complex, the most advanced weapons became a monopoly of centralized states, which employed them to weaken local opposition. During the mid-fifteenth century the king of France used artillery to reduce some sixty castles annually. Administrative procedures also became increasingly routinized and efficient. Ever more abstract notions of state authority accompanied the evolution of new  sources of legitimacy. From the Irrawaddy River in Asia to the Seine River in Europe, religious uniformity served to reinforce and confirm centralized rule. The ideal of universal empire was native to America, Africa, and Eurasia. The early modern unification of England with Scotland and Ireland was paralleled throughout Europe. If in 1450 Europe contained six hundred independent political units (or more, depending on the criteria), in the nineteenth century it contained around twentyfive. About thirty independent city-states, khanates (state governed by a ruler with the Mongol title â€Å"khan†), and princedoms were absorbed into the Russian empire. By 1600 the Tokugawa shogunate had unified Japan. Fourteenth century southeastern Asia had two dozen independent states that evolved into Vietnam, Siam (Thailand), and Burma (Myanmar) by 1825. The Mughals unified India north of the Deccan Plateau for the first time since the Mauryan empire (c. 321–185 BCE). Unification was also an overture to expansion. In addition to an increasing European presence worldwide, Qing China (1644–1912) invaded Xinjiang,  Mongolia, Nepal, Burma, and Formosa, and during the seventeenth century Romanov Russia stretched out to the Pacific. The new unities led relentlessly to new fragmentations and hierarchies, and resistance to such centralizing political forces was equally universal. During the century between 1575 and 1675, for example, uprisings occurred in China, Japan, India, Armenia, Georgia, Kurdistan, Ukraine, the Balkans, the German lands, Switzerland, France, Catalonia, Portugal, England, Ireland, and Mexico. At the end of the period, the French Revolution (1789) would enjoy global influence as the first revolution modern in its progressive, absolute, and sudden nature. Intensification of Land Use The concurrence of population growth, global markets, and aggressive states led to wider and more intensive use of land. Displacing or subordinating indigenous peoples, pioneers backed by aggressive states drained wetlands and cleared forests to create new lands for intensive commercial, agricultural, and pastoral regimes. (Similarly, commercial hunters pursued various species of flora and fauna to extinction for sale on a global market.) Oblivious to any land claims held by indigenous peoples, states would offer pioneers low taxes in exchange for settlement and land rights. For example, the Mughal Empire provided land grants, Hindu merchants provided capital, and Sufi (Muslim mystic) brotherhoods provided leadership for the communities of Muslim pioneers who transformed the Bengal wetlands into a key rice-producing region. These efforts compensated for the extended disobliging weather patterns that plagued temperate zones throughout the Northern Hemisphere a â€Å"little ice age† affecting climate throughout the early modern world. Religious Revival The most distinctive religious characteristic of this era was the global  expansion of Christianity. Indeed, the impetus driving the creation of global sea passages was religious as well as commercial. The efforts of Catholic religious orders predominated the great Protestant missionary societies would be founded only in the 1790s. Sufi brotherhoods such as the Naqshibandiyah expanded Islam in Africa, India, China, and southeastern Asia.Tibetan Buddhism pushed into northwestern China, Manchuria, Mongolia, Buryatia, and to Kalmikya, on the shore of the Caspian Sea, which remains today the only Buddhist republic in Europe. The increased emphasis on orthodox and textual conventions of Latin Christendom’s Reformation had a parallel in the Raskol schism of the Russian Orthodox Church during the 1650s. Elsewhere, Muhammad ibn Abd al Wahhab (1703–1792) founded the Wahabbi movement to reform Sunni Islam under strict Quranic interpretation. Many people believed that the era that historians call â€Å"early modern† would be the last. Franciscan apocalyptic thought inspired Columbus, and the belief that the god Quetzalcoatl would return from the East in a One Reed year led the Aztec sovereign Montezuma II to regard the Spanish conqueror Hernà ¡n Cortà ©s and his comrades as divine envoys. A Jesuit at the court of Akbar in 1581 found the Mughal ruler open to the idea of the imminent end because that year was eleven years from the thousandth anniversary of the Hijra, which was the journey the Prophet Muhammad took from Mecca to Medina in  622 CE. The Jewish Sabbatian movement expected the end of the world in 1666. In late eighteenth-century central China the White Lotus Society awaited the return of the Buddha to put an end to suffering. All these developments might best be understood in the context of notions of history in which significant change was either absent or sudden and awesome. Outlook Neither a deductive nor an inductive approach to the early modern world is  entirely satisfactory. A deductive approach expects to see the entire world following a Eurocentric roadmap to modernization (one that Europe itself might not have followed). An inductive approach respects the diversity of historical experience, but this diversity itself can frustrate attempts to delineate a discrete list of unifying features. If historians can tolerate the inconveniences of regional exceptions to every â€Å"global† process, the idea of an early modern world has its attractions. Although a perspective that twists the world around a European center is unproductive, the regions of the early modern world were increasingly named (in America) and mapped (as in China) by Europeans. Nevertheless, in its application beyond Europe the idea of an early modern world redresses the distortions of the Orientalist assumption of parochial, timeless, and conservative inertias unaltered by European expansion. It recognizes that peoples of the early modern era in some ways had more in common with each other than with their own ancestors and descendents that time unites just as powerfully as place. It facilitates comparative analysis and abets inquiry that trespasses across national boundaries. It sees the entire world as a stage, not only for comparative study, but also for the broadest possible analysis for a historian’s scrutiny. Further Reading Benton, L. (2002). Law and Colonial Cultures: Legal Regimes in World History, 1400– 1900. Cambridge, UK: Cambridge University Press. Black, J. (Ed.). (1999).War in The Early Modern World, 1450–1815. London: UCL Press. Fisher,W. (1895). Money and Credit Paper in the Modern Market. The Journal of Political Economy, 3, 391–413. Fletcher, J. (1985). Integrative History: Parallels and Interconnections in the Early Modern Period, 1500–1800. Journal of Turkish Studies, 9, 37–57. Flynn, D. O., Giraldez, A. (1995). Born with a Silver Spoon: World Trade’s Origins in 1571. Journal of World History, 6(2), 201–221. Fox, D. R. (1915). Foundations of West India Policy. Political Science Quarterly, 30, 661–672. Frank, A. G. (1998). ReOrient: Global Economy in the Asian Age. Berkeley and Los Angeles: University of California Press. Goldstone, J. A. (1991). Revolution and Rebellion in the Early Modern World. Berkeley and Los Angeles: University of California Press. Goldstone, J. A. (1998). The Problem of the â€Å"Early Modern† World. Journal of the Economic and Social History of the Orient, 41, 249–284. Huff,T. E. (1993). The Rise of Early Modern Science: Islam, China and the West. Cambridge, UK: Cambridge University Press. Lieberman,V. (1997). Transcending East-West Dichotomies: State and Culture Formation in Six Ostensibly Disparate Areas. Modern Asian Studies, 31(3), 463–546. Mousnier, R. (1970). Peasant Uprisings in Seventeenth-Century France, Russia, and China (B. Pearce,Trans.). New York: Harper and Row. Parker,G. (1996). The Military Revolution: Military Innovation and the Rise of the West, 1500–1800 (2nd ed.). Cambridge, UK: Cambridge University Press. Pomeranz, K.(2001).The Great Divergence: China, Europe, and the Making of the Modern World Economy. Princeton, NJ: Princeton University Press. Richards, J. F. (1997). Early Modern India and World History. Journal of World History, 8, 197–209. Richards, J. F. (2003). The Unending Frontier: An Environmental History of the Early Modern World. Berkeley and Los Angeles: University of California Press. Starn, R. (2002). The Early Modern Muddle. Journal of Early Modern History, 6(3), 296–307. Strong, C. F. (1955). The Early Modern World. London: University of London Press. Subrahmanyam, S. (1997). Connected Histories: Notes Towards a Reconfiguration of Early Modern Eurasia. Modern Asian Studies, 31(3), 735– 762. Thomson, S. H. (1964). The Age of Reconnaissance, by J. H. Parry. The Journal of Modern History, 36(2), 187–188. Wallerstein, I. (1974). The Modern World-System. New York: Academic. Wiesner-Hanks, M. (2000). Christianity and Sexuality in the Early Modern World: Regulating desire, reforming practice. London: Routledge. Wills, J. E., Jr. (2001). 1688: A Global History. New York: Norton. The Modern Era The modern era is the briefest and most turbulent of the three main eras of human history. Whereas the era of foragers lasted more than 200,000 years and the agrarian era about 10,000 years, the modern era has lasted just 250 years. Yet, during this brief era change has been more rapid and more fundamental than ever before; indeed, populations have grown so fast that 20 percent of all humans may have lived during these two and a half centuries. The modern era is also the most interconnected of the three eras. Whereas new ideas and technologies once took thousands of years to circle the globe, today people from different continents can converse as easily as if they lived in a single global village. History has become world history in the most literal sense. For our purposes the modern era is assumed to begin about 1750.Yet, its roots lay deep in the agrarian era, and we could make a good case for a starting date of 1500 or even earlier. Determining the end date of the modern era is even trickier. Some scholars have argued that it ended during the twentieth century and that we now live in a postmodern era. Yet, many features of the modern era persist today and will persist for some time into the future; thus, it makes more sense to see our contemporary period as part of the modern era. This fact means that we do not know when the modern era will end, nor can we see its overall shape as clearly as we might wish. The fact that we cannot see the modern era as a whole makes it difficult to specify its main features, and justifies using the deliberately vague label â€Å"modern.† At present the diagnostic feature of the modern era seems to be a sharp increase in rates of innovation. New technologies enhanced human control over natural resources and stimulated rapid population growth. In their turn, technological and demographic changes transformed lifeways, cultural and religious traditions, patterns of  health and aging, and social and political relationships. For world historians the modern era poses distinctive challenges. We are too close to see it clearly and objectively; we have so much information that we have difficulty distinguishing trends from details; and change has occurred faster than ever before and embraced all parts of the world. What follows is one attempt to construct a coherent overview, based on generalizations that have achieved broad acceptance among world historians. Major Features and Trends of the Modern Era The modern era is the first to have generated a large body of statistical evidence; thus, it is also the first in which we can quantify many of the larger changes. Increases in Population and Productivity Human populations have increased faster than ever before during the modern era, although growth rates slowed during the late twentieth century. Between 1750 and 2000 the number of men and women in the world rose from approximately 770 million to almost 6 billion, close to an eightfold increase in just 250 years. This increase is the equivalent of a growth rate of about 0.8 percent per annum and represents a doubling  time of about eighty-five years. (Compare this with estimated doubling times of fourteen hundred years during the agrarian era and eight thousand to nine thousand years during the era of foragers.) An eightfold increase in human numbers was possible only because productivity rose even faster. The estimates of the economist Angus Maddison suggest that global gross domestic product rose more than ninety fold during three hundred years, whereas production per person rose nine fold. These astonishing increases in productivity lie behind all the most significant changes of the modern era. Productivity rose in part because new technologies were introduced. In agriculture, for example, food production  kept pace with population growth because of improved crop rotations, increased use of irrigation, widespread application of artificial fertilizers and pesticides, and the use of genetically modified crops. However, productivity also rose because humans learned to exploit new sources of energy. During the agrarian era each human controlled, on average, 12,000 kilocalories a day (about four times the energy needed to sustain a human body), and the most powerful prime movers available were domestic animals or wind-driven ships. During the modern era humans have learned to harvest the huge reserves of energy stored in fossil fuels such as coal, oil, and natural gas and even to exploit the power lurking within atomic nuclei. Today each person controls, on average, 230,000 kilocalories a day—twenty times as much as during the agrarian era. A world of planes, rockets, and nuclear power has replaced a world of horses, oxen, and wood fires. City Sprawl As populations have increased, so has the average size of human communities. In 1500 about fifty cities had more than 100,000 inhabitants, and none had more than a million. By 2000 several thousand cities had more than 100,000 inhabitants, about 411 had more than a million, and 41 had more than 5 million. During the agrarian era most people lived and worked in villages; by the end of the twentieth century almost 50 percent of the world’s population lived in communities of at least five thousand people. The rapid decline of villages marked a fundamental transformation in the lives of most people on Earth. As during the agrarian era, the increasing size of communities  transformed lifeways, beginning with patterns of employment: Whereas most people during the agrarian world were small farmers, today most people support themselves by wage work in a huge variety of occupations. Innovations in transportation and communications have transformed relations between communities and regions. Before the nineteenth century no one  traveled faster than the pace of a horse (or a fast sailing ship), and the fastest way to transmit written messages was by state-sponsored courier systems that used relays of horses. Today messages can cross the world instantaneously, and even perishable goods can be transported from one end of the world to another in just a few hours or days. Increasingly Complex and Powerful Governments As populations have grown and people’s lives have become more intertwined, more complex forms of regulation have become necessary, which is why the business of government has been revolutionized. Most premodern governments were content to manage war and taxes, leaving their subjects to get on with their livelihoods more or less unhindered, but the managerial tasks facing modern states are much more complex, and they have to spend more effort in mobilizing and regulating the lives of those they rule. The huge bureaucracies of modern states are one of the most important byproducts of the modern revolution. So, too, are the structures of democracy, which allow governments to align their policies more closely with the needs and capabilities of the large and varied populations they rule. Nationalism—the close emotional and intellectual identification of citizens with their governments—is another by-product of these new relationships between governments and those they rule. The presence of democracy and nationalism may suggest that modern governments are more reluctant to impose their will by force, but, in fact, they have much more administrative and coercive power than did rulers of the agrarian era. No government of the agrarian era tried to track the births, deaths, and incomes of all the people it ruled or to impose compulsory schooling; yet, many modern governments handle these colossal tasks routinely. Modern states can also inflict violence more effectively and on a larger scale than even the greatest empires of the agrarian era. Whereas an eighteenth century cannon could destroy a house or kill a closely packed group of soldiers, modern nuclear weapons can destroy entire cities  and millions of people, and the concerted launch of many nuclear weapons could end human history within just a few hours. A subtler change in the nature of power is the increased dependence of modern states on commercial success rather than raw coercion. Their power depends so much on the economic productivity of the societies they rule that modern governments have to be effective economic managers. The creation of more democratic systems of government, the declining importance of slavery, the ending of European imperial power during the twentieth century, the collapse of the Soviet command economy in 1991, and the ending of apartheid (racial segregation) in South Africa in 1990 and 1991 all reflected a growing awareness that successful economic management is more effective than crudely coercive forms of rule.

The Employee Selection System In The Hospitality Industry Tourism Essay

The Employee Selection System In The Hospitality Industry Tourism Essay In the hospitality industry, there are many departments in the organizations of hotels and other lodging establishments. Every department plays a different role in accommodating to the needs and demands of the guests and this include the human resource department. Although the human resource department is not directly involved in serving the guests in the hotel, this department is essential in ensuring that the service industry is consisted of reliable and experienced employees. Being an industry that is very labour-intensive, every individual that is being hired must meet the specifications of the job and it is the duty of human resource department to choose the right people for the right job. Human resource generally means people who are comprised in the workforce of an organization. For organizations like hotels, human resources are an important asset because it is them who keep the organizations running by providing services for the guests. The operation of hospitality establishments such as lodging establishments cannot work without employees. The human resource department is therefore set up to facilitate the hotel in the role of staffing, training and helping the organization in managing the people in order to achieve a maximum capability in the workforce, subsequently, fulfilling goals and missions of the hotel. The human resource department is responsible for the following tasks. Understanding and relating to employees as individuals, thus identifying individual needs and career goals Developing a positive interaction between employees in order to ensure collated and constructed enterprise productivity as well as development of a uniform organization culture Recruiting and required the employees and making provisions for expressed and promised payroll and other benefits Innovating new operating practices to minimise risk and generate an overall sense of belonging and accountability Identifying the areas which the employees have lack of knowledge and experience in and then provide a training programme to remedy the weaknesses in the forms of workshops and seminars Implementing resource strategies to create and sustain competitive advantage. Furthermore, the human resource department is also responsible for preparing the manpower budget and the list of backups at certain levels. For example, a well functioned human resource department will always plan for future situations by analysing the current market job to see how the rate of employee switching is going in the hospitality industry. This rate is different in every sector, with the lodging industry having the highest rate when compared with the other industries. Therefore, the employees in the department will always keep a look out for any gaps that requires them to get substitutes for positions in the hotel by preparing contingency plans and backups which are assessed to maintain the hierarchy of the organization. The management in the human resource department faces a challenge when recruiting members to join the organizations, the higher the challenge still if it is in the case of hiring for the lodging industry. The lodging industry as its name suggests is simply known to the public as hotels, motels and other establishments which provide services such as lodging and lodging with meals. Being a labour-intensive industry, the employees are essential for the operation of the organizations. Therefore, the prospects for employment in the lodging industry are very high and employees are easily attainable in the labour market. However, as the labour market gets smaller when more people are getting hired in the lodging industry as well as other industries, the rate of turnover in the lodging industry has begun to rise higher. The high turnover rate in the lodging industry has impacted the growth of the service sector. According to Kenneth and Berger (1994), the turnover in the hospitality industry has been shown to be incredibly high, averaging up to 200 to 300 percent annually. This high turnover rate not only affects developing countries like Malaysia, but also for developed countries like the USA, where the employee turnover rates are more than 100% in food and beverage outlets. What are the reasons behind the high turnover rates of employees in the lodging industry? There are various reasons of why the percentage of turnover among employees in the lodging industry is higher compared to other industries. In the next few chapters, the reasons of the relatively high turnover rate will be explained. Chapter 2: Quality of the Employee Selection System and Leadership For every establishment, the most important thing for the organization is to choose the right people for the right job. The employees of the hotel are the backbone of the organization. If they are not meticulously chosen by the human resource department and subsequently hiring the wrong people for the wrong job specifications, the reputation of the hotel will be tarnished when the customers judge the service standard of the hotel based on the employees. On top of that, a bad employment system is one of the major reasons of employee turnover in the lodging industry. More often than not, the applicants for lower position jobs in the lodging industry are usually young and inexperienced. It is not right to assume that the lower levels in the hierarchy of an organization is less important and therefore, simply selecting any applicant from the list will fit the job perfectly. If an individual with little passion in the lodging industry seeks the job just for the sake of getting a job but appears to be keen and enthusiastic during the interview, this might be able to fool the human resource department into hiring him, thinking he is the best candidate for the applied position. This shows that the employee selection system is poor in quality as the employees are not thoroughly examined before hiring them. It is easy to see that an uninterested employee who has no passion for the hospitality industry will not stay for long in his position. Without a genuine love for the profession as well as the desire to excel as a hotelier, there is no forms of motivations that can help the employee to stay working in the lodging establishment. Sooner or later, the employee will aspire for a better work-life balance, a faster career growth or even a growing desire to stop working in the department where the managers are not the least concern about his well being, for example. Consequently, he will resign from his position after a few months due to boredom or a bad relationship with their superiors. The cycle continues as the human resource department continues to hire applicants without meticulously examining them and assign them to jobs that do not suit them properly and then have to result to terminate them or a receive a resignation from them when they do not perform as well as expected by the dep artment. Besides, the other main reason why the turnover is high in lodging industry is that the quality of leadership in the establishment. Not every individual is designed to fit well in the culture and the regulations of a property especially the likes of a hotel. Besides, the lodging industry is one industry that practices the culture that foster dependence which requires the employees to follow a chain of command which requires the lower level employees to report to their own direct superiors respectively. It is impossible for hotels to have a perfectly high standard of leadership qualities and therefore, not all the leaders or supervisors are good managers to their subordinates or owning the ability to lead the teams in the various departments in the hotel. The disability to lead or motivate the employees as their supervisors can bring about a negative impact on the employees and as a result, they become more and more dissatisfied with the way they are being treated by their superiors. For example, an employee who has an emergency to leave early from work and the supervisor disallows him from doing so and forces him to stay till the end of the shift without considering the reason behind the permission of early dismissal. What will the employee feel having to work under a supervisor who could not care less the well being of the subordinates? The employee will be discouraged and begins to consider about leaving the organization for other job opportunities where they might be able to work under a better leadership. It does not mean that being strict towards the employee is a good leadership quality. A leader must not only be strict to employees but at the same time, needs to demonstrate an example to be followed by the employees. If the way the supervisors lead does not bring about motivation at the workplace, it is no wonder that the turnover rate of the employees is so high because almost no one is able to work under a management that is stressful or filled with negativity, for example, employees are often being scolded for trivial mistakes with no hint of encouragement to strive for improvement especially during the rush hour in the lodging establishment. Thus, the same position keeps changing employee and this increases the employee turnover percentage due to poor quality of leadership. Chapter 3: Working Environment and Work Specification The working environment is considered as the workplace and its surroundings. This factor is one that most employees place priority on, ensuring that the job that they doing provides a conducive environment that will enable them to work happily and efficiently. In the lodging industry, the working environment is defined as a place where there is constant contact with guests and it is of utmost importance for the employees to present themselves well at all times. The working environment does not only include the physical workplace which can be seen by all, for example, sitting at the reception but it also involves the figurative part, which is the environment that involves acknowledging the presence of guests day in and day out of the shift (working hours). Suffice to say, the guests are a part of the working environment in the lodging industry. The working environment in the lodging establishment is another reason of the high turnover rate of employees because this industry is one that requires employees to have a high level of patience and a good stress management due to its occupation nature. Having to face guests all the time and if the guests are demanding, they still need to meet the demands of the guests no matter how tired they are. One can only last for so long working in such a stressful environment while at the same time is forced to put on a smile for each and every guest who walks into the establishment. Besides, the working environment in the lodging establishments also includes their supervisors or co-workers who make pressure more intense in the workplace. The hospitality industry is such a challenging field that not everyone will make it as their permanent profession. Majority of the employees who work in hotels are either school leavers or part-timers who lack the courage to or perseverance to keep pursuing the career in this area, hence, they change jobs as soon as they can find a working environment that is less stressful and gives them more time to relax. Furthermore, the work specification is also the reason of the high employee turnover in the lodging industry. The shifts in a regular lodging establishment are divided into three shifts morning, afternoon and midnight shifts; consisting of about eight or more hours per shift. Sometimes the employees need to work more than the regular eight hours when there is a shortage of employees in the department. Sometimes, employees are assigned the midnight shift, also known as the graveyard shift in the hospitality context and stay on duty till the next morning. Every shift is important because the guests may check in at any time of the day. The lodging industry cannot expect all the guests to check in only in the afternoon because some guests for example, just got down from a flight and need lodging for the night. On top of that, the work in the lodging industry requires a lot of physical activities which tires the employees easily. Therefore, employees who cannot take the pressure or fatigu e will resign or be terminated for lack of competency in the job which leaves the position vacant for another employee who most likely will do the same thing. The irregularity of working hours in the long term is not the kind of profession which many people like as they tend to prefer stable working hours, such as office hours. Furthermore, the work specification in the lodging establishment, especially in the food and beverage department, requires the employees to stand for a long period of time which is something that needs endurance on the part of the employees. The high turnover of employees occurs in the lodging industry because not all of the ones hired have the aspiration to be hoteliers and therefore, the work specification does not meet their criteria of a job selection. This is one reason why they leave shortly after working for a considerable brief period of time. Therefore, the working environment and the specifications of the various positions in the lodging establishment is an important element which determines how long the employees can work in the industry. The lodging industry is very labour-oriented which results in high demand of employees. However, the ones who are ready to accept the job opportunities offered by this industry are more likely to change their job environment when they feel that the irregularity working hours in the hotel environment is no longer what they prefer to continue to do, so they need to venture into other career line that is appealing to them. Chapter 4: Salary and Low Job Satisfaction For every industry, the purpose employees choose to work is to earn a decent salary to support oneself or even a family. The career is the source of income and therefore, salary has become another reason of why the turnover of employees is extremely high especially in the lodging industry. Being an industry that caters to the need of customers, guests in the hospitality context, the lodging establishments has a mission to provide guests with the best services even though if it means to hire more employees to facilitate the management to fulfil this goal. The number of employees working in the lodging industry is high especially in the lower levels such as front desk representative and the salary for such positions is always deemed to be low in terms lodging industry workers work harder and longer hours compared with the employees from other industries who have fixed working hours and a considerable low level of stress. For example, the front desk representative earns an average of $2 0,000 per year, referencing from a statistic in United States in February 2010. Furthermore, some employees who are desperate for a job will work for a short duration of time in the lodging industry and at the same time, scouting for jobs outside the industry which offers higher pay and shorter working hours. Most employees use the lodging industry as a stepping stone in order to achieve a better position somewhere which is not so dependent on guests as well as too much reliance on commission-like pay. Therefore, when they could not accept the same salary for the amount of work that they do, they decide to leave. The scenario repeats when the next employee who comes to replace the previous employee has the same vision of treating the current job as a temporary solution before he can find a higher paid job soon. The reason why most employees leave the lodging industry after working for a short time is because they are not satisfied with the wages that is paid by the hotel as they think they deserved to receive a higher salary for the worth of the work that they d o every day, especially the irregularity in the time shift as explained in the previous chapter. Many of the employees who are working in the lodging establishments do not have the opportunity to express their creativity and intellectual development as the job requirements in the hotel follow a standard operating procedure to synchronise the work among the employees. Therefore, the employees feel that what they have to offer to the industry is very limited as they cannot express their potential to the maximum, something which can make them stand out from other employees. However, the lodging industry places importance on teamwork and individualism is rarely practised in the lower level of management whereby the employee is given a full responsibility in a certain task. The satisfaction level of employees upon the job is slowly decreasing as they begin to feel bored with the tough routine of serving the guests every day without any chances to be valued by the management. Besides, a low job satisfaction happens when the employees feel that they are being taken advantage of which t hey are obligated to work extra hours at times to cover the insufficiency of manpower during peak seasons with extra minimal wages. As a result, more negative emotions surface such as feeling of undervalued, helpless or unimportant. Employees seek satisfaction in their career and when they fail to achieve it in the lodging industry, they will begin to wonder if they are not well suited for the service area, therefore, leaving the industry altogether. On top of that, employees desire to attain benefits from their workplace. These benefits are not necessarily in the monetary sense but they also include the appreciation by the organization such as a raise in salary or extra days off in the week. However, it is not possible for the establishments in the lodging industry to reward employees by giving extra days off when industry is so labour-intensive which means, they need all the employees they can to serve the guests who steps into the establishment all the time. Chapter 5: Impact of New Technology on Skill Requirements The technology era has made a major difference globally including the lodging industry. The information and communication technology (ICT) system integrate the power of the Internet, the customer relationship management and also the supply chain management in a directly seamless, one-source direction site which allows all kinds of operations to be performed with one user friendly tool. The types of operations that can be performed are such as making reservations, storing of guestsà ¢Ã¢â€š ¬Ã¢â€ž ¢ data, tracking as well as payment and reporting from one department to the other. For example, the guests can now reserve rooms from the comfort of their home without having to contact the hotel personnel to make reservations. By cutting out one or two stages of reservation in the system of the lodging establishment like hotels, it gives a great impact on the employment of the human resource department. This is because with the advancement of technology, certain tasks that have been operated manually by the employees in the lodging establishments such as helping the guest to make reservation has now been replaced with the Internet. This is where the reason of the high turnover of employee comes in. In order to maintain the personal touch that the guests love to experience when they contact the hotel, the management still hires employees to collaborate with the automated functions that has made the procedures in the hotel much simpler than before. Therefore, the employees who are not competent enough to handle the change that has replaced the old system are replaced with employees that have the different levels of skills which complement the job specifications. On the surface, the management might see this as a solution to replace old employees who lack in skill compared to the new employees. However, the turnover of employees continues to be high in percentage as the technology is always evolving so fast the knowledge that the current employees have becomes obsolete ever more quickly. The training of employees to operate in the lodging industry has become a continuous need meanwhile the remaining jobs require employees of greater skills than before. As a result, the human resource has to keep hiring new employees who are better in operating the new systems in the hotel. This reason used to be the least problem to the lodging industry in the earlier years but now, as globalisation continues to develop, the industry must keep up to the up-to-date systems and hire the right people to operate them, such as hoteliers who are at the same time comfortable with new systems and are flexible to adapt to new changes, a challenge that is continually f orcing the turnover of employees to remain higher than the other industries which are not so labour-intensive. Chapter 6: Conclusion The lodging industry is such a challenging industry because it requires a lot of employees to make the system functional. The job opportunities that is presented in this industry is so vast that many people are willing to apply for a position within the industry for various reasons but most of the employments do not last long because of the reasons that have been explained in the previous chapters. The first reason of why the employee turnover is exceptionally high in the lodging industry is because of the poor quality of employee selection system and the leadership practised in the organization. The human resource department has the task of selecting the right people to do the right job. If the employees are not screened properly, there is a higher probability that the individuals assigned to the position are not up to the job, subsequently, cannot handle the work and has to be replaced with better employees who have experience in the lodging industry. The leadership of the lodging industry also affects the turnover of employees. A leader who cannot cooperate with his subordinates or give a proper guidance to train them to perform better at work will also cause the high turnover in employees because employees always seek to work under good leadership that will enable them to learn new things about the industry. Furthermore, the working environment and the job specification are another reason of the high employee turnover in lodging industry. The hustle bustle in the hotel, having to meet guests all the time with a pleasant appearance can be a challenging job as no matter how tired an employee is, he must not display it upfront to maintain the service level towards the guests. The long working hours is also another cause of the high employee turnover as well as the irregularity of working hours that causes employees to encounter fatigue due to the different shifts they are assigned to. On top of that, the salary and low job satisfaction has become another cause of high employee turnover in the lodging industry. Employees will leave when they realise that the amount of work they do are not being appreciated when their pay is lower compared with other industries which offer higher pay for lesser amount of work. The job satisfaction then decreases further when employees have fewer opportunities to express their creativity and intellect since the lodging industry has their own standard operating procedures to keep everything synchronised for the guests. The last reason for the turnover of employees is the impact of the new technology on skill requirements. Technology has been advancing at an incredible speed and there are far easier ways to operate things in the lodging industry. The tasks that have been done manually in the past are now able to be done using new software that can be assimilated in the reservation procedures as well as the storing of guestsà ¢Ã¢â€š ¬Ã¢â€ž ¢ data. The employees who are resistant to these changes have to be replaced with newer employees who are more technologically inclined as their new skills are needed to be incorporated with the technology used in the hotel. As the technology advances on, the turnover of employees begin to remain high in percentage as more new skills are required to replace the old in order for the lodging industry to function at its best to serve its guests.