The Financing Structure Of Unilever Plc Finance Essay

The Financing Structure Of Unilever Plc Finance Essay Unilever Plc (Unilever) operates as a single business entity. It was formerly known as Lever Brothers Limited. Unilever NV and Unilever Plc are the two parent companies of the Unilever Group having separate legal identities and separate stock exchange listings for their shares. Unilever Plc (Unilever) is a leading food and personal care product offering company in the world. The company is engaged in the manufacturing and distributing foods, home care and personal care products. The company along with a strong and well differentiated portfolio of 400 global and regional brands operating across 14 categories operates in 150 countries with around 174,000 employees. BUSINESS DESCRIPTION Unilever operates in four business segments namely, Personal Care; Home Care; Savoury, Dressings Spreads; and Ice Cream Beverages. The company also offers solutions for professional chefs and caterers. It has around 270 manufacturing facilities worldwide. The Personal Care segment includes business in the mass skin care, daily hair care and deodorants product areas. These products are sold under Dove, Lux, Rexona, Sunsilk, Axe and Ponds, Suave, Clear, Lifebuoy, Vaseline, Signal and Close Up. Its Home Care segment includes laundry products such as tablets, powders and liquids for washing of clothes by hand or machine. It also offers soap bars. In this segment, the principal brands are Omo, Surf, Comfort, Radiant, Skip and Snuggle. The household care products include surface cleaners and bleach that are marketed under the Cif, Domestos and Sun/Sunlight brands. The companys new products include Dove pro-age range of products, Dove Summer Glow self-tanning and body lotions, Clear antidandruff shampoo and Small Mighty concentrated liquid laundry detergents. The Savoury, Dressings and Spreads segment includes sauces, soups, salad dressings, bouillons, snacks, mayonnaise, spreads, olive oil, margarines and cooking products like liquid margarines, and frozen foods. These products are sold worldwide under Calve, Knorr, Hellmanns, Becel, Flora, Wish- Bone, Rama, Blue Band, Amora, Ragu and Bertolli brands. The Ice cream and Beverages division includes ice cream, tea-based beverages, weight management products, and nutritionally enhanced products. These products are marketed worldwide under various brand names such as Magnum, Cornetto, Carte dOr and Solero, Walls, Kibon, Ola and Algida, Ben Jerrys, Breyers, Klondike and Popsicle. The tea-based beverages are sold under Lipton, Brooke Bond and PG Tips brands. The weight management products are sold under Slim-Fast, and nutritionally enhanced products are marketed under Annapurna and AdeS/Adez brands. In the the Home Care division, it holds the global number two position in laundry, with a number one position in man developing and emerging markets. The company holds global number one position in mass skin care and deodorants, and the number two position in hair care where as in oral care and household care the companys strategy is focused on strong regional and local leadership positions in selected markets in Europe, Asia and Latin America. In the Foods division, it holds number one position in savory and dressings, spreads, tea-based beverages and ice cream. Unilever is the category leader in margarine and spreads in most European countries and North America. The companys UKs foods division is the number one producer of savory and dressings business. Products and Brands Unilever owns more than 400 brands as a result of acquisitions, however, the company focuses on what are called the billion-dollar brands, 13 brands, each of which achieve annual sales in excess of à ¢Ã¢â‚¬Å¡Ã‚ ¬1 billion. Unilevers top 25 brands account for more than 70% of sales. The brands fall almost entirely into two categories: Food and Beverages, and Home and Personal Care. Unilevers billion$ brands are Axe/Lynx Lipton Blue Band[14] Lux (soap) Dove Omo/Surf (detergent) Flora/Becel Rexona/Sure Heartbrand Sunsilk Hellmans TIGI (haircare) Knorr Products of the company are distributed through distribution centers, group-operated facilities, satellite warehouses, and public storage depots, wholesalers, independent grocery stores, co-operatives, and various food service providers. Unilever invests around EUR 1 billion in research and development activities through five laboratories to develop new products and technologies. Geographic Presence Unilever has geographically diversified operations. It is engaged in manufacturing and distributing foods, home care and personal care products. Its products are sold in more than 150 countries which include Europe, the Americas, Asia and Africa. During the fiscal year 2008, the company generated 32% revenue from Western Europe, 32% from the Americas and 36% from the Asia, Africa and Central Eastern Europe. It is the category leader in margarine and spreads in most European countries and North America. The companys UKs foods division is the number one producer of savory and dressings business. Thus, wide geographic presence decreases the business risk of the company. This also acts as an easy way for the expansion plans of the company, as wider reach in terms of geography would mean reaping more benefits eventually improving the profit margins, attaining economies of scale and recognition on a worldwide basis. following are the name of some of the countries with Unilevers presences. Ireland Sudan Italy Sweden Japan Switzerland Pakistan Thailand Singapore Tunisia Spain United States Sri lanka United Kingdom Industry Comparison Revenue Growth Rate The companys compounded annual growth rate for revenue was 1.39% during 2005-2009. This was below the SP 500 companies average* of 9.67%. A lower than sector average* revenue CAGR may indicate that the company has underperformed the average sector growth and lost market share over the last years. The companys underperformance could be attributed to a weak competitive position or inferior products and services offering or lack of innovative products and services. Return on Equity The companys return on equity (ROE) was 30.62% for fiscal year 2009. This was above the SP 500 companies average* of 18.69%. A higher than sector average ROE indicate that the company is efficiently using the shareholders money and that it is generating high returns for its shareholders compared to other companies in the sector. Operating Profit Margin The companys operating margin was 12.91% for the fiscal year 2009. This was below the SP 500 companies average* of 18.74%. A lower than sector average* operating margin may indicate inefficient cost management or a weak pricing strategy by the company. Financial Analysis Instead of 2 year analysis of the financial position of the company analysis is performed on a five year data as this will provided with better coverage of the companies performance. Current ratio Current ratio of the company has been on the rising trend since 2005. Current ratio of the company has increased from 0.75 time in 2005 to 0.93 times in 2009. This trend shows that the company is moving toward a stable liquidity position. Whereas, in comparison to the averages of the industry trend and S P 500 companies Unilever is not able to maintain sound current ratio. Currently industry averages at around 1.53 times whereas; SP 500 companies averages around 1.91 times. This is almost as double to where Unilever currently stands. Quick ratio Quick ratio of the company has shown similar rising trend as that of current ratio. Quick ratio of the company has moved to 0.5 times in 2009, which is a rise of approximately 35% during the five year period (2005: 0.37 times). This ratio of the company is quite close to the industry averages (i.e., 0.78 times), whereas, SP 500 companies quick ratio averages to around 1.36 times. Considering the rising trend of the company, it appears that its liquidity position will improve in the near future to meet the industry averages. Gross Profit margin Gross Profit margin of the company has shown a mix trend over the years. During the period from 2005-2009 gross profit margin of the company stood at 48.32%, fall of just 2%. This shows that the company is in a stable position as it is able to stay consistent in maintaining its Gross Profit Margin. On the other hand, Industry average stands at 44.72%. Being on the higher side of the industry shows that the company is able to effectively manage its cost and pricing policies. Net Profit Margin Similar to the Gross profit margin, net profit margin of the company has shown a mix trend. On average the net profit margin of the company has increased by 4% during the 5 year period to 8.46% in 2009. This is higher then what the industry average is (Industry average: 7.25%). On the other hand SP 500 companies average net profit margin to approximately 12.59%, showing that the company is not meeting the SP 500 companies standards. Return on Assets Return on assets of the company has shown an increasing trend during the 5 year period. During the said period, ROA increased to approximately 10% in 2009 from 8.74% in 2005, this is a rise of 14%. In comparison, the industry averages the return on assets at around 7.71% and SP 500 averages assets at around 7.91%. This shows that the company is able to used the employed assets efficiently and effectively then what the normal industry trend depicts. FINANCING STRUCTURE Unilever PLC is a highly un-geared company. Its total debt to total equity ratio stood at only 0.82 in 2009, which is a decline of around 46% during the 5 year period (2005: 1.51). Similar fall in the total debt to total capital ratio was observed, which fell by approximately 25% to 0.45 in 2009. On the other hand a slight increase of just 9% was observed in the Long term debt to total capital of the company during the same five year period. In contrast to the leverage ratios, a significant fall in the payout ratio was observed. Payout ratio of the company fell from 61.37% in 2005 to just 38.54% in 2009. This shows that currently the company is in the phase of financing its activities from its retained earnings instead of taking long or short term financing. In comparison to a competitor Reckitt Benckiser Group, the leverage of this company is similar to the leverage of Unilever PLC. During the year 2009, Total Debt to Total Equity ratio Reckitt Benckiser Group is only 0.82. Payout ratio of the Reckitt Benckiser is 50.28% in 2009, which is higher than that of Unilever PLC, representing the fact that Reckitt Benckiser Group Plc is utilizing higher portion of its retained earnings as compared to Unilever Plc In comparison with the industry trends, average total debt to equity is approximately 1.16 times whereas, as per SP 500 it is around 0.73. In view of these average industry and sector trends, company is performing quite well. On the other hand, companys payout ratio is on the higher side when compared to the industry and SP 500 averages. Average industrys payout is almost is 42% whereas, average payout as per SP 500 is 28.82%. This shows that company is not availing its short term financing options. Taking up these short term financing will release some pressure from the retained earning and can be paid out to the shareholders of the company because as the low payout trend of the industry indicates that the shareholders are prone to short term gains in comparison to long term capital gains. 2009 2008 2007 2006 2005 Unilever PLC Total Debt/Equity 0.82 1.1 0.77 0.78 1.51 Long Term Debt/Total Capital 0.35 0.3 0.25 0.22 0.32 Total Debt/Total Capital 0.45 0.52 0.44 0.44 0.6 Payout Ratio 38.54% 43.04% 56.62% 83.71% 61.37% Reckitt Benckiser Group Plc Total Debt/Equity 0.03 0.48 0.21 0.53 0.09 Long Term Debt/Total Capital (?) 0 0 0 0 0.04 Total Debt/Total Capital (?) 0.03 0.32 0.17 0.35 0.08 Payout Ratio (?) 50.28% 50.76% 41.93% 48.65% 42.39% WEIGHTED AVERAGE COST OF CAPITAL As discussed in the above section, Unilever PLC has a very low (nominal) gearing of 0.35%. Virtually the company is debt free; hence cost of equity of the company will be its weighted average cost of capital. In order to calculate Cost of Equity of Unilever PLC Capital Asset Pricing Model (CAPM) has been used. Beta for the company has been taken from the Dow Jones Report, which is 0.76 whereas; many technical issues were presents when indentifying risk free rate (Rf) and risk premium (Rm-Rf). Hence, the risk free rate and the market rate (Rm) are assumed to be 8% and 12% respectively for the purpose of this calculation. Cost of Equity = Rf + (Rm-Rf)b Cost of Equity = 8% + (12% 8%) 0.76 Cost of Equity = 11.04% Here, Cost of Equity = = WACC Hence, WACC = 11.04% NEW PROJECT Project Description Company has recently conducted a market survey for deodorant target only toward a young generation. Evaluation of the investment proposal to manufacture product XARI was performed. The product has performed well in test marketing trials conducted recently by the research and marketing department of the company. Key Elements of Project Initial investment cost Evidences for the initial investment cost can be found from various sources, research reports related to the particular industry, information from the companies which have recently invested in the respective sectors can prove quite useful, internal budget preparation etc. Annual revenues / operating costs Evidences of independent annual revenues and operating cost can be also be found from various sources, demand and supply of the particular products and projected by various research houses such as Business Monitor, by analyzing past trends of the company and peer analysis of the companies already operating in the industry/segments Rates of inflation Information related to the past and future rates related to inflation can be found in abundance. In addition to the government bodies, numerous independent research houses provided forecasted/projected inflation rates of different countries. These rates are calculated after critically analyzing and assessing various factors that affect the inflation rates. Report from Economic Intelligence Unit is one of the research houses which provides rates of inflation, both past trends as well as forecasted for different countries. Rates of taxation, and tax reliefs and allowances Best sources for finding information related rates of taxation and tax reliefs and allowance is to go through government regulated bodies. Legal regulations related to tax and updates in the upcoming changes can be found on government operated website and accurate and up to date information related to any legal issue is available there. Risk and Uncertainty After a through research I came to the conclusion that identification of risks is best done by a sequential manner. Firstly brainstorming exercise was done with some colleague of mine in order to evaluate what factors ,both beneficial and adverse, can be faced by the new project that the company was going to undertake. This exercise was purely for the identification of the risk that the project might face during the tenor of its operations. After my initial task of risk identification I assessed the likelihood of the occurrence of that risk and categorized them on the scale of high, medium and low. Then I assessed the consequences of each of risk if they occurred and whether, there occurrence will have a major impact on the operation of the company or its future prospect or not. Risks with low chances of occurrence and low negative impact were ignored and emphasis was placed on the risks that have high chances of occurrence or which could have measurable impact on the companys performance. This risk was than further classified into quantifiable and non-quantifiable risk (uncertainty). The impact of the quantifiable risk, such as rate of inflation, increase in the cost of raw material, fall in demand of the product etc, were incorporated when calculating the Net Present Value of the Project. Uncertainties such as war, political instability, change in government regulation etc, were a bit hard to incorporate. In order to overcome these problems sensitivity analysis was used. Via Sensitivity Analysis result of the project are categorized into three possible outcomes Best Case Scenario, Moderate Case Scenario and Worst Case Scenario. These 3 cases will show the performance of the company in the two most extremes situations that the company might operate. Result should then be interpreted keeping in mind of all the expected scenarios. Net Present Value After the successful test, following information has been prepared by me in order to assess the viability of the project. The research team has prepared the following forecasted demand of the product along with that various other variables such as selling prices and inflation rate are also estimated. These forecasts reflect, along with others, the expected life of the products, change in the economic conditions in the long run etc. Weighted average cost of capital has been calculated as above at 11.04%. The product has no terminal value at the end of four year. NPV of the project with respect to the following data is almost about 348,578 pounds Forecasted Information for Product XARI Initial Investment 2 million Pounds Selling Price (Current Price) 20 pound/unit Expected Inflation in Selling Price 3% per year Variable operating cost 8 pound/unit Fixed Operating Cost 170,000 per yar Tax Rate 30% Year 1 2 3 4 Demand (units) 60,000 70,000 120,000 45,000 Quarterly Report It appears that the company has performed reasonable well when compared to the forecast that the management prepared. Minor variances were witnessed by the company in most aspect of the project. Initial investment of the company exceed by just 100,000 pound. Company just sold 100 less units in first quarter as compared to the forecasted data. The reason for this relate to the factor that market awareness was not created by the company as it incurred less operating cost as anticipated. Company managed to sell units at a selling price 15% more the forecasted price. On the other 13% more cost was incurred on each unit than was projected. The reason for such a change could relate to the fact that the company underestimated the price of it project, and once market started to accept the product its selling price increased

Metasizing Cancer Cells Essay -- Biology

The human body encompasses some thirty trillion cells. The cells which comprise normal, healthy tissues in the body live in an interdependent relationship with surrounding cells. These tissues are intricately arranged into a marvelous array of cell to cell adhesions and extracellular matrixes. Healthy cells reproduce in a coordinated manner which insures that a particular body tissue maintains its appropriate size, form, and function. Cells which have lost the ability to reproduce in a controlled fashion are termed cancerous cells. Cancer cells proliferate uncontrollably forming tumors causing disruption in the normal form and function of body tissues. The most dangerous of the cancer cells are those that can metastasize, which is the ability of the cell to migrate from the original or primary tumor site to a distant site where they establish secondary tumors. This is what makes metastasizing cancer cells so lethal and distinguishes a malignant cancer from a non-malignant cancer. Migrating Cancer Cell in vitro In order to accomplish such a migration, the malignant cells need to proceed through a series of steps which include: 1. detachment from the primary tumor mass 2. degradation of the basement membrane 3. migration to and invasion of a nearby blood or lymphatic vessel 4. survival within the blood or lymph system 5. attachment to the wall of the vessel at some distant site 6. penetration of the vessel wall and exiting of the vessel 7. migration to a site where a secondary tumor is established. The Role of Anchorage Dependence in Metastasis The mechanisms involved in the survival of a cell detached from the extracellular matrix are of great interest. Normal cells are anchorage dependent and... ...f mitastasis. This is primarily due the circulatory system's architecture. After cancer cells from the skin or other tissues find their way to the blood stream, they migrate downstream to the first capillary bed. For most organs, the lungs contain the first capillary bed downstream which enables the cancer to lodge in small blood vessels proliferate there. Prostate Cancer and its Effects Prostate Cancer often spreads to the bones. But unlike melanoma which becomes physically traped in the blood vessels, prostate cancer also seeks out a definitive adhesion molecule located on the stromal cell of the bone. The prostate cancer has a receptor which only recognizes this molecule, so will only adhere to this particular one. Colorectal Cancer and its Effects Colorectal cancer typically metastasize to the liver due to the intestines sending their blood here first.

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Some of his career moves Include working as an organist to the Duke of Whimper from 1708 to 1 71 7, moving to Cotton to e the leader of an orchestra to Prince Leopold from 1717 to 1 723, and then Bach was appointed Cantor of the SST Thomas School. By 1725, he has written 2 complete cycles of cantatas. By 1729 he has written 4 complete cycles of cantatas (200 cantatas! ). In 1748, Bach was losing his eyesight and eventually went blind. He died in 1750 at the age of 65.Bach's Lutheran faith was an important aspect of his music life, in which he writes â€Å"To the Glory of God† in many of his works. He was a master of contrapuntal arts and helped create the well-tempered tuning system we use to this day. In his lifetime Bach has composed over 1000 musical works. Prelude & Fugue in C minor Is a song In Bach's Well-Tempered Clavier written In 1722. It contains 24 prelude & fugue which shows the Well-Tempered tuning system that Bach help create.The Well-Tempered tuning Is not exact , which makes It possible to play all 12 major and minor keys- which was never done before. The Prelude in C minor starts with fast 16th notes in perpetual motion. A monophonic link happens in measure 25 which leads to strict imitation until measure 28. After, it returns with fast 1 6th notes in referral motion followed by a 2 measure cadenza-like passage starting on measure 34.Near the end of the Prelude there is a tonic pedal point and then the prelude ends with a Picador ending (a minor piece ending with a tonic major triad) from C minor to C major. The Fugue begins with a subject composed of 1 6th and 8th notes. Then there Is an melody In the dominant key with slight alteration called the tonal answer. The song continues with the countermeasure. The middle section Is felled with sequential material In which the subject Is absent. The tonic pedal appears In the end and the subject Is played one last and ends on E natural.

The Walt Disney Company the Art of Brand Building Keeps...

The Walt Disney Company has evolved from a wholesome family-oriented entertainment company into a massive multimedia conglomerate. Not only is Disney a producer of media but it also distributes its and others’ media products through a variety of channels, operates theme parks and resorts, and produces, sells, and licenses consumer products based on Disney characters and other intellectual property. CEO Michael Eisner has been instrumental in many of these changes. How can such extensive changes occur while trying to maintain the Disney brand? Disney Through the Years After his first film business failed, artist Walt Disney and his brother Roy started a film studio in Hollywood in 1923. The first Mickey Mouse cartoon, Plane Crazy,†¦show more content†¦The deal came in the same week as Westinghouse Electric Corporation’s $5.4 billion offer for CBS Inc. Disney represented one of several consolidations of the media conglomerates that increasingly control the distribution of entertainment programming in the United States. Disney ranked as the third largest media conglomerate behind AOL Time Warner and Viacom. Eisner appreciated the importance of both programming content and the distribution assets needed to deliver it. (4) As a result of many of Eisner’s decisions, The Walt Disney Company has been transformed from a sleepy film production studio into a major entertainment giant, with its revenues of over $2 billion in 1987 increasing to $22 billion in 1997. (5) Its stock price has multiplied over 15 times, creating enormous wealth for both stockholders and executives of Disney. One of the biggest questions arising from the ABC deal is whether Disney paid too dearly for declining network assets. Viewership among all the major networks was declining. According to Michael Jordan, the CEO of CBS, â€Å"the pure network television business is basically a low-margin to breakeven business.† (6) The networks were squeezed by having to pay extravagantly for programming and were attracting an audience of older viewers who were scorned by advertisers. However, another way to lookShow MoreRelatedThe Walt Disney Company: The Art Of Brand Building Keeps Disney Center Stage1660 Words   |  7 PagesThe Walt Disney Company has evolved from a wholesome family-oriented entertainment company into a massive multimedia conglomerate. Not only is Disney a producer of media but it also distributes its and others’ media products through a variety of channels, operates theme parks and resorts, and produces, sells, and licenses consumer products based on Disney characters and other intellectual property. CEO Michael Eisner has been instrumental in many of these changes. 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Company Background 3. Management 4. Situation Analysis 5. Ethics and Responsibility 6. Human Resource 7. Globalization 8. Operation and Production Read MoreWalt-Disney World Internship Report7881 Words   |  32 PagesInternational Tourism Internship Report â€Å"Dreams Come True† Exploration in Disney Student Name: Student Number: Internship Sponsor: Li, Danping 0609853G-B111-0073 The Walt Disney World Resort Internship Duration: Aug, 10th, 2008 ~ Jan, 16th, 2009 Submission Date: Apr, 30th, 2009 Brief Description of My Internship Fantastic memories of 169 days living in America, almost six months working in Walt Disney World offers an unforgettable experience in my personal life and has great influenceRead MoreWalt Disney Case16863 Words   |  68 Pages9-701-035 REV: JULY 25, 2001 D MICHAEL G. 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Yet the intangible assets, such as a particular technology, accumulated consumer information, brand name, reputation, and corporate culture, are invaluable to the ï ¬ rm’s competitive power. In fact, these invisible assets are often the only real source of competitive edge that can be sustained over time. —HIROYUKI ITAMI, MOBILIZING INVISIBLE ASSETS Read MoreEssay on Netflix Case Study8846 Words   |  36 PagesTable of Contents Company Overview 4 Issues 5 Analysis External Analysis Dominant Economic Feature 8 Competitive Forces Ââ€" Five Forces Model 10 Driving Forces 12 Key Success Factors 14 Competitor Analysis 15 Industry Attractiveness 21 Internal (Company) Analysis Company Strategies 21 SWOT Analysis 23 Value Chain Analysis 29 Competitive Strength Assessment 30 Strategic Issues and Obstacles The Walt Disney Company The Art Of Brand Building Keeps... The Walt Disney Company has evolved from a wholesome family-oriented entertainment company into a massive multimedia conglomerate. Not only is Disney a producer of media but it also distributes its and others’ media products through a variety of channels, operates theme parks and resorts, and produces, sells, and licenses consumer products based on Disney characters and other intellectual property. CEO Michael Eisner has been instrumental in many of these changes. How can such extensive changes occur while trying to maintain the Disney brand? Disney Through the Years After his first film business failed, artist Walt Disney and his brother Roy started a film studio in Hollywood in 1923. The first Mickey Mouse cartoon, Plane Crazy, was†¦show more content†¦ushered in a new era in the history of Disney. (2) Work the Brand Michael Eisner has been involved in the entertainment industry from the start of his career (ironically, beginning at ABC Television in the 1960s). He exhibits a knack for moving organizations from last place to first through a combination of hard work and timely decisions. For example, when he arrived at Paramount Pictures in 1976, it was dead last among the six major motion picture studios. During his reign as the company’s President, Paramount moved into first place with blockbusters such as Raiders of the Lost Ark, Trading Places, Beverly Hills Cop, and Airplane, along with other megahits. By applying lessons he learned in television at ABC to keep costs down, the average cost of a Paramount picture during his tenure was $8.5 million, while the industry average was $12 million. (3) Eisner viewed Disney as a greatly underutilized franchise identified by millions throughout the world. In addition to reenergizing film production, Eisner wanted to extend the brand recognition of Disney products through a number of new avenues. Examples of his efforts over the years include the Disney Channel (cable), Tokyo Disneyland (Disney receives a management fee only), video distribution, Disney Stores, Broadway shows (Beauty and the Beast), and additional licensing arrangements for the Disney characters.Show MoreRelatedThe Walt Disney Company: the Art of Brand Building Keeps Disney Center Stage1781 Words   |  8 PagesThe Walt Disney Company has evolved from a wholesome family-oriented entertainment company into a massive multimedia conglomerate. Not only is Disney a producer of media but it also distributes its and others’ media products through a variety of channels, operates theme parks and resorts, and produces, sells, and licenses consumer products based on Disn ey characters and other intellectual property. CEO Michael Eisner has been instrumental in many of these changes. How can such extensive changes occurRead MoreWalt Disney’s New World of Mass Media Essay2940 Words   |  12 Pagesaround every corner. 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Operation and Production Read MoreWalt-Disney World Internship Report7881 Words   |  32 PagesInternational Tourism Internship Report â€Å"Dreams Come True† Exploration in Disney Student Name: Student Number: Internship Sponsor: Li, Danping 0609853G-B111-0073 The Walt Disney World Resort Internship Duration: Aug, 10th, 2008 ~ Jan, 16th, 2009 Submission Date: Apr, 30th, 2009 Brief Description of My Internship Fantastic memories of 169 days living in America, almost six months working in Walt Disney World offers an unforgettable experience in my personal life and has great influenceRead MoreWalt Disney Case16863 Words   |  68 Pages9-701-035 REV: JULY 25, 2001 D MICHAEL G. RUKSTAD DAVID COLLIS O The Walt Disney Company: The Entertainment King I only hope that we never lose sight of one thing—that it was all started by a mouse. —Walt Disney The Walt Disney Company’s rebirth under Michael Eisner was widely considered to be one of the th great turnaround stories of the late 20 century. When Eisner arrived in 1984, Disney was languishing and had narrowly avoided takeover and dismemberment. By the end of 2000, howeverRead MoreHk Disney16299 Words   |  66 Pagesthe direct and indirect competitors of Hong Kong Disneyland when it comes to other theme parks, tourist destinations and also hotels in Hong Kong. The TOWS analysis provides a study of the threats, opportunities, weaknesses and strengths that the company is either presently experiencing or might be experiencing in the future. The TOWS matrix includes the respective implications as well as the possible action plans needed to be carried out to minimize the threats and weaknesses and to maximize theRead MoreNike Is Brand Of Apparel And Sports Equipment Essay2155 Words   |  9 PagesNike is brand of apparel and sports equipment that operates in North America, Western Europe, Central and Eastern Europe, Greater China, Japan and other emerging markets. The company was founded by William Jay Bowerman and Philip H. Knight in 1964 and was officially incorporated on September 8, 1969. 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John McClernand Civil War Union Major General

John Alexander McClernand was born May 30, 1812, near Hardinsburg, KY. Moving to Illinois at a young age, he was educated in local village schools and at home. First pursuing an agricultural career, McClernand later elected to become a lawyer. Largely self-educated, he passed the Illinois bar exam in 1832. Later that year McClernand received his first military training when he served as a private during the Black Hawk War. A devout Democrat, he founded a newspaper, the Shawneetown Democrat, in 1835 and the following year was elected to the Illinois House of Representatives. His initial term lasted only a year, but he returned to Springfield in 1840. An effective politician, McClernand was elected to the US Congress three years later. The Civil War Nears During his time in Washington, McClernand violently opposed the passage of the Wilmot Proviso which would have banned slavery in the territory acquired during the Mexican-American War. An anti-abolitionist and staunch ally of Senator Stephen Douglas, he aided his mentor in passing the Compromise of 1850. Though McClernand left Congress in 1851, he returned in 1859 to fill the vacancy caused by the death of Representative Thomas L. Harris. With sectional tensions rising, he became a firm Unionist and worked to advance Douglas cause during the election of 1860. After Abraham Lincoln was elected in November 1860, Southern states began leaving the Union. With the beginning of the Civil War the following April, McClernand commenced efforts to raise a brigade of volunteers for operations against the Confederacy. Eager to maintain a wide base of support for the war, Lincoln appointed the Democratic McClernand a brigadier general of volunteers on May 17, 1861. Early Operations Assigned to the District of Southeast Missouri, McClernand and his men first experienced combat as part of Brigadier General Ulysses S. Grants small army at the Battle of Belmont in November 1861. A bombastic commander and political general, he quickly irritated Grant. As Grants command was expanded, McClernand became a division commander. In this role, he took part in the capture of Fort Henry and Battle of Fort Donelson in February 1862. At the latter engagement, McClernands division held the Union right but failed to anchor its flank on the Cumberland River or another strongpoint. Attacked on February 15, his men were driven back nearly two miles before Union forces stabilized the line. Rescuing the situation, Grant soon counterattacked and prevented the garrison from escaping. Despite his error at Fort Donelson, McClernand received a promotion to major general on March 21. Seeking Independent Command Remaining with Grant, McClernands division came under heavy attack on April 6 at the Battle of Shiloh. Helping to hold the Union line, he took part in the Union counterattack the next day which defeated General P.G.T. Beauregards Army of the Mississippi. A constant critic of Grants actions, McClernand spent much of the middle of 1862 conducting political maneuvering with the goal of either displacing Major General George B. McClellan in the east or obtaining his own command in the west. Obtaining a leave of absence from his division in October, he traveled to Washington to lobby Lincoln directly. Desiring to maintain a Democrat in a senior military position, Lincoln ultimately granted McClernands request and Secretary of War Edwin Stanton gave him permission to raise troops in Illinois, Indiana, and Iowa for an expedition against Vicksburg, MS. A key location on the Mississippi River, Vicksburg was the last obstacle to Union control of the waterway. On the River Though McClernands force initially only reported to Union General-in-Chief Major General Henry W. Halleck, efforts soon commenced to limit the political generals power. This ultimately saw orders issued for him to take command of a new corps to be formed out his current force once he united with Grant who was already operating against Vicksburg. Until McClernand rendezvoused with Grant, he would remain an independent command. Moving down the Mississippi in December he met Major General William T. Shermans corps which was returning north after its defeat at Chickasaw Bayou. The senior general, McClernand added Shermans corps to his own and pressed south aided by Union gunboats led by Rear Admiral David D. Porter. En route, he learned that a Union steamer had been captured by Confederate forces and taken to Arkansas Post (Fort Hindeman) on the Arkansas River. Re-routing the entire expedition on Shermans advice, McClernand ascended the river and landed his troops on January 10. Attackin g the next day, his troops carried the fort in the Battle of Arkansas Post. Issues With Grant This diversion from the effort against Vicksburg greatly angered Grant who saw operations in Arkansas as a distraction. Unaware that Sherman had suggested the attack, he complained loudly to Halleck about McClernand. As a result, orders were issued allowing Grant to take complete control of the Union troops in the area. Uniting his forces, Grant shifted McClernand into command of the newly-formed XIII Corps. Openly resentful of Grant, McClernand spent much of the winter and spring spreading rumors regarding his superiors supposed drinking and behavior. In doing so, he earned the enmity of other senior leaders such as Sherman and Porter who saw him as unfit for corps command. In late April, Grant elected to cut loose from his supply lines and cross the Mississippi south of Vicksburg. Landing at Bruinsburg on April 29, Union forces pressed east towards Jackson, MS. Turning towards Vicksburg, XIII Corps was engaged at the Battle of Champion Hill on May 16. Though a victory, Grant believed that McClernands performance during the battle was lacking as he had failed to press the fight. The next day, XIII Corps attacked and defeated Confederate forces at the Battle of Big Black River Bridge. Beaten, Confederate forces withdrew into the Vicksburg defenses. Pursuing, Grant mounted unsuccessful assaults on the city on May 19. Pausing for three days, he renewed his efforts on May 22. Attacking all along the Vicksburg fortifications, Union troops made little headway. Only on McClernands front was a foothold gained in the 2nd Texas Lunette. When his initial request for reinforcements was declined, he sent Grant a misleading message implying that he had taken two Confederate forts and that another push might win the day. Sending McClernand additional men, Grant reluctantly renewed his efforts elsewhere. When all of the Union efforts failed, Grant blamed Mc Clernand and cited his earlier communications. With the failure of the May 22 assaults, Grant commenced a siege of the city. In the wake of the assaults, McClernand issued a congratulatory message to his men for their efforts. The language used in the message sufficiently angered Sherman and Major General James B. McPherson that they lodged complaints with Grant. The message was also printed in Northern newspapers which was in contravention of War Department policy and Grants own orders. Having been constantly annoyed with McClernands behavior and performance, this breach of protocol gave Grant the leverage to remove the political general. On June 19, McClernand was officially relieved and command of XIII Corps passed to Major General Edward O. C. Ord. Later Career Life Though Lincoln backed Grants decision, he remained cognizant of the importance of maintaining the support of Illinois War Democrats. As a result, McClernand was restored to command of the XIII Corps on February 20, 1864. Serving in the Department of the Gulf, he battled illness and did not take part in the Red River Campaign. Remaining in the Gulf for much of the year, he resigned from the army due to health issues on November 30, 1864. Following the assassination of Lincoln the following year, McClernand played a visible role in the late presidents funeral proceedings. In 1870, he was elected circuit judge of the Sangamon District of Illinois and remained in the post for three years before resuming his law practice. Still prominent in politics, McClernand presided over the 1876 Democratic National Convention. He later died on September 20, 1900, in Springfield, IL and was buried at citys Oak Ridge Cemetery. Selected Sources History of War: John A. McClernandUS Congress: John A. McClernandMr. Lincoln Friends: John A. McClernand

Essay about Emotionally Intelligent Leadership - 1226 Words

More recently, is the work of Daniel Goleman. Goleman defines emotional intelligence as a blend of Gardner’s interpersonal and intrapersonal intelligence. Goleman suggests â€Å"softer skills such as empathy, intuition, self and social awareness are what distinguish great leaders and successful companies†. These soft skills are found deep within ourselves and our minds. â€Å"The most primitive part of the brain, shared with all species that have more than a minimal nervous system, is the brainstream surrounding the top of the spinal cord. This root brain regulates basic life functions like breathing and the metabolism of the body’s other organs, as well as controlling stereotyped reactions and movements† (Goleman, 1995). The emotional centers that†¦show more content†¦Goleman suggests that self-awareness (recognizing feelings as they happen) is the key to EI. 2) Managing one’s emotions. This is the ability to handle feelings so that they a re appropriate. 3) Motivating oneself. Containing, ordering and controlling emotions while working toward a goal is critical to stay on track. 4) Recognizing emotions in others. One of the most fundamental people skills is to have empathy, the ability to recognize other’s feelings based on having had similar feelings yourself. 5) And lastly, properly handling relationships. â€Å"People are beginning to realize that success takes more than intellectual excellence or technical prowess†¦ Internal qualities such as resilience, inititative, optimism, and adaptability are taking on a new valuation† (Goleman, 1998). Emotions generate very powerful chemicals that can create positive feelings, such as motivation and enthusiasm, or they can create negative responses, such as offending and even attacking others. When an emotionally charged situation occurs, understanding the process-taking place then and they can help leaders become more objective decision-makers. Although a certain level of cognitive intelligence opens the door for many people, emotional intelligence is critical to becoming a successful leader. Cognitive intelligence has historically been considered a good indicator of future success within our society. A study by Daniel Goleman, an author and psychologist digsShow MoreRelatedEmotional Intelligence Of Leaders By Daniel Goleman1322 Words   |  6 Pagesstrengths and weaknesses are. Emotion management is exhibiting good self-control and limiting impulsive reactions. Leaders who allow themselves to be governed by anger, fear, anxiety, and sadness cannot provide effective, confident, authoritative leadership. Goleman references a Stanford University study which showed that children with better impulse control, in this case delaying gratification, outperformed their impulsive counterparts years later on the Scholastic Aptitude Test (SAT). MotivatingRead MoreManagement Assignment: Human Intelligence Essay1292 Words   |  6 PagesTraditionally organisations have concentrated upon the intelligence of individuals and held the point of view that intelligent people in terms of IQ s ucceeded more. However, these ideas are continually challenged by the idea of emotional intelligence being key indicators of management performance (cited in Khosravi, Manafi, Hojabri, Aghapour and Gheshmi, 2011, pg 3). Emotional intelligence is ones ability to perceive and regulate other people’s emotions (cited in Sadri, 2012, pg 536). In presentRead MoreEmotional Intelligence And The Nurse Essay1449 Words   |  6 Pages2012). This ability is known as emotional intelligence and offers the nurse a capacity to assume successful leadership positions. Emotionally intelligent skill building for leadership is now a required competency and encompasses spiritually rich aspects of both nursing and leadership. 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This leadership role will set us up for success in order to create an environment for optimal functioning, and to achieve the desired therapeuticRead MoreEmotional Intelligence : The Impact Vulnerability Has On Leadership Within Nursing Care1520 Words   |  7 PagesEmotional Intelligence: The Impact Vulnerability Has On Leadership within Nursing Care Empathy is used to describe a wide range of experiences. It is the â€Å"capacity† to share and understand other people’s emotions and another’s â€Å"state of mind†. Empathy is being able to imagine what someone else might be thinking or feeling, while maintaining a state of vulnerability to one’s previous experiences, biases, and emotions. Empathy is a very powerful concept that is often misunderstood, or discountedRead MoreEmotional Intelligence And Its Effect On The Job Satisfaction Of Employees Essay1645 Words   |  7 Pageswhich could be due to behaviour or leadership styles. It is inconclusive which of these reasons, if any, are the cause of the positive correlation due to the lack of overwhelming support for any one cause and the biases of the studies. Emotional intelligence was referred to by Mayer and Salovey (1997) as a set of abilities to do with understanding, perceiving, appraising, expressing, and regulating emotion (as cited in Das Ali, 2014). An emotionally intelligent manager can understand and react toRead MoreEmotional Intelligence And Effective Leadership1426 Words   |  6 Pages Assignment 1: Emotional Intelligence and Effective Leadership Vigilkumar C. Patel BUS520: LEADERSHIP AND ORGANIZATIONAL BEHAVIOUR Dr. Eartha Eve Barnett October 29th 2015 â€Å"Emotional Intelligence and Effective Leadership†, one of the most important constructs in leadership today is the concept and application of emotional intelligence (EI). 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Emotional intelligence involves one’s proficiency in realizing and then being able to behaviors, moods and impulses and thus managingRead MoreEmotional Intelligence, By John Mayer And Peter Salovey1445 Words   |  6 PagesGoleman refers to relationship management as â€Å"inspirational leadership (Goleman, Boyatzis, McKee, 2002).† After studying both the four branch model and Goleman s writings, one of the characteristics of emotional intelligence as I understand it is the ability to manage feelings and handle stress. Instead of those feelings and stress becoming a hindrance, the emotionally intelligent individual knows how to use them. The emotionally intelligent leader makes these traits work for them, not only to betterRead MoreOrganizational Behavior and Leadership Style1329 Words   |  5 Pagesï » ¿Organizational Behavior and Leadership Style Abstract: This paper examines the leadership position I would occupy in the fictional Commerzbank and details the leadership style I would take on as their VP of Development. As VP, I would emphasize a transformational leadership style, as that style would encourage my members of staff and the company at large to evolve to their highest potential. I would also encourage an atmosphere of transparency for the good of the company at large. I would also

Animal Consciousness - Paper free essay sample

Because nonhuman animals lack some mental abilities, we regard them as property, the only moral constraint that we observe on our use of other animals is an obligation not to make them suffer. But who is to say that animals dont have consciousness? Animals not only have consciousness, but some have more consciousness then some of us human beings. Thats why, Cartmill is attempting to try to persuade people, mainly philosophers and scientists, that animals have consciousness. Matt Cartmill strongly supports the idea that animals have consciousness. Sleep is something that we know that makes us consciousness as humans. Most animals dont sleep, but some do. When a human is sleep they are unconscious, but when they wake up they return back to their consciousness. The same should apply to animals. When animals sleep their are also unconscious, but when they wake up they return back to their conscious state of mind. We will write a custom essay sample on Animal Consciousness Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page For example: when a owner is being attacked by a stranger or killer, not only would a human help, but a non-human, animal, would also help to protect you. Being said, animals have mental lives something like ours. The waking state in animals is something like ours, which includes mental events and awareness of the world. They were trying to say that computer were more in tune with people than animals were. This is not true because there isnt any computer that can ever produce consciousness. Nothing science has ever produced comes near to and the complex sequence of responses that shape our reactions. The processes involved in sleepwalking and hibernating are aspects of consciousness that are obvious. But many philosophers and scientists think otherwise. While some do not want to appear sentimental, others are afraid to accept the possibility of mental and moral states in animals for professional and/or philosophical reasons. Many thinkers have gone further and insisted that because animals cant talk, their mental lives are nonexistent. Also many professionals have been reluctant to grant that animals can have mental lives because they are not good at operating signs. Not to forget, philosophers and scientist dont acknowledge that animals feel pain because they feel like animals dont suffer the same pain like we humans do, maybe thats the reason we could eat them without thinking about the torture they been through in order for us to have them on our plate. Most scientists will admit that our close animals relatives probably have mental lives like ours, but most are too afraid to say it true. This may be true that animals arent physical like humans, but animal brains think somewhat close to humans. Despite the conspicuous differences in sight, feel, and smell between a human body and a dogs, a dog will react the same to both human and its own species the same way if it was happy or sad. When you tell a dog to come here, it comes. Philosophers and scientists believe that animals learn by a human observer, but this is not true because their are many wild animals that learn from each other or themselves. Cartmill also thrown out the Darwanian theory of natural selection, and Occams Razor. Occams Razor which was intended too dent mental events in animals whenever we can, actually is on animal rights side. They argue that it we are going to invoke desires, beliefs, and intentions for our own actions, then we should explain other animals behavior in similar terms whenever we can. Humans and non-humans, animals, both have consciousness whether philosophers or scientists like it or not. With compelling evidence, Cartmill shows that animals have consciousness. People should start to acknowledge that animals have a mind of their own and that no one inflicts them to do so. Philosphers and scientists should give up on all the theories as to why an animal can not think by themselves. With acknowledging animals to have their own mind, this is going to make our world a better place.