Organizational Vision and Visionary Organizations

Upendra Gupta 28-NOV-12 Organizational Vision & Visionary Organizations (Summary) Purpose of the Article: In this article authors presents the importance of vision statement and framework that help any organization in order to achieve successfully and all stakeholders involved focus for targeting common goals. It also shows the importance and need of framework that’s required for organization vision. Most of the organizations focus on vision in order to fulfill their mission statement.Normally all of these vision or mission statements contain so many inspirational words that attract not only employees but outsider investors as well. Organization Vision is something is that’s required compelling, guiding force for mission statement. Terminologies: * Guiding Philosophy: It’s the starting point of vision frame where organization vision focuses on decisions, policies and actions for all phase of evolution. It resides in the background, ever-present and in the woodwor k and it is deep and serene. Core values and Beliefs: These are the organization's basic precepts about what is important in business and life, how business should be conducted, its view of humanity, its role in society, the way the world works, and what is to be held inviolate. It may be focused about customers, people, products and management ; business. * Purpose: It is second part of guiding philosophy and in the woodwork of the organization and is not set or created as much as it is recognized or discovered. * Environment: It serves a moderating role in the translation of purpose into mission.By its very nature, guiding philosophy is generated relatively free of current environmental conditions—it comes from within people. Missions, on the other hand, will be affected by the environment—they are affected by timing, trends, technology, and other external factors. * Tangible Image: Its second major component of vision framework. It is in the foreground, focusing peo ple's attention on a specific goal and also a bold, exciting, and emotionally charged. * Mission: It is a clear and compelling goal that serves to unify an organization's efforts.Mission can be set by 4 approaches: Targeting, Common Enemy, Role Model, and Internal Transformation. * Vivid description: It is an organization’s opportunity to express in detail what it will feel like to achieve their goal. It represents a vibrant, engaging, and specific description of what it will be like when the mission is achieved and provokes emotion and generates excitement. Major Findings or Arguments: * Report what was actually found to be true: Articulating an effective corporate vision can be difficult. However, it’s positively mentioned by author in the article.He advised how and why vision and impudent goals are at the core of â€Å"the stable great company† and reveals the evolution of the visionary organization. He also describes a framework for expressing a vision for y our company. There is significant relationship between visionary major components called guiding philosophy and tangible images. Both of the components also have other elements that pay a key role for vision framework. Author presented few examples like Giro sport design and Merck pharmaceuticals that shows real strength of core values and beliefs along with proper illustration of entire vision framework in actions.Overall, guiding philosophy of the organization becomes operationalized in the tangible image, and it takes organization's expected future environment into account. In Sense, environment serves a moderating role in the translation of purpose into mission. * Criticize them by your own thoughts: I believe that organization creates vision keeping in mind of people interest and deviate the purpose and mission organization supposed to achieve. Balancing act amongst all the components for vision frame needs to align keeping in mind of people, customers, about products and manag ement & business.Organization shouldn’t just concentrate on nice vision or mission statement but also focus on meeting the target by good mean. They should always keep in mind core values and beliefs as it’s important as per any individual perspective and affects a lot if not met under guideline. I also think that a unified organizational vision helps an organization may provide direction and purpose of our core values internally and externally, in a well-articulated and easily understood way Encourages team sprit by building loyalty through involvement and shared commitmentOrganizations need to understand that mission should not be mixed with its purpose. Mission should have finite end line and purpose should be broader way to get next mission of the organization. Few of the organizations like ford and NASA had suffered where their mission met early and nothing was target for later. Authors mentioned that missions should not be limited by the constraints of strategic analysis. Its setting should be proactive, not reactive and strategic analysis should be done after not during the mission-setting process.Without a strong vision, strategic plans might not be properly executed since there is no guiding principle or over bending plan. Methodology As part of the understanding the vision, total 75 organization of small or big, young or Old and for-profit and not-for-profit are chosen that have influenced the development of vision framework. 20 of them are picked up by CEOs of top leading companies for the study that has most visionary organizations that have behaved in visionary ways over long periods of time.Complete analysis done based upon vision provided and achieved by most of the successful organization as how they established their vision and last for 100 years and so. Application of the research: I think this study will be helpful for the organizations who want to present facts through their vision or mission statements. It gives proper guidel ine how it may impact the organizational growth if vision framework components are properly aligned as per market needs and doesn’t satisfy truly organization common goals.Nevertheless, it is clear without a vision statement, an organization's performance and culture would be similar to a ship without a wheel. Organizational vision brings a sense of purpose to an organization. A vision statement acts like a filter which enables the people and management decide what to do and more importantly what not to do in their everyday work life. Questions: 1. How does organization vision gets impacted if leader of the organizations quits and original vision was prepared by him/her? 2.What are the other features than vision framework that distinguish visionary organization? 3. Will this organization vision framework be applicable to each and every country in the world? If not then how will it differ? References: 1. Article 7 Collins_Vision_1991 2. http://www. leadershipreview. org/2008fa ll/article1_fall_2008. asp 3. http://www. scribd. com/doc/109265760/Correlation-Between-Organizational-Thinking-amp-Strategic-Vision 4. http://www. help4nonprofits. com/NP_Bd_MissionVisionValues_Art. htm

UK Soil Types And The Farming System Environmental Sciences Essay

To understand how of import the dirt is in finding the agriculture system, this study is based in the county of Shropshire, United Kingdom and will place the chief dirt types and the agriculture system and how it plays an of import function in British agribusiness. It will besides place the patterns which contribute to being a sustainable system of production. The country ‘s sustainability will besides be reported and how it compares to the remainder of the UK. Soil types will besides be reviewed and the relationships between the dirt type and the agriculture patterns will be described. Agribusiness in Shropshire is an of import function as it is the prevailing usage of land in the chosen country. The study will oppugn why Shropshire plays an of import portion in agribusiness in the UK, how it does this, and whether its sustainability is efficient in comparing to other countries in the UK. 2 County of survey 2.1 location Shropshire is located in the West Midlands of England and boundary lines Wales to the West. The county of Shropshire is one of England ‘s most rural counties and has an estimated population of 291, 800 in 2009 and an country of 319,736 hectares. ( Shropshire Council, 2010 ) Shropshire Figure 1: Location of Shropshire ( Mole Be Gone, non dated )2.1 History of Shropshire ‘s AgribusinessSince the eighteenth century, Shropshire has chiefly been an agricultural county. The first pattern of agribusiness was in Neotholic times and of all time since, the population had been preponderantly rural. British agribusiness was promoted by consecutive authoritiess after the Second World War. After 1973, the United Kingdom became a member of the European Economic Community ( EEC ) , doing husbandmans supported and pushed to maximize their end products. Quotas were introduced by the EEC which set bounds on milk production in 1984, ensuing in 11 million liters less milk being sold in Shropshire in 1 twelvemonth. Winter Wheat became a dependable and profitable harvest de to the high outputs of the new strain of wheat. In 1988, the ‘Set-a-Side ‘ Scheme was introduces to cut down cultivable harvest excesss. This gave husbandmans a fee of up to ?200 per hectare if they took at least 20 % of their cultivable land into production. These fees were turn outing to be excessively low as husbandmans were non taking their land out of production. In the mid 80 ‘s, agricultural land value fell and husbandmans had increased force per unit area as environmental policies began such as harvest spraying holding tight ordinances as chemicals caused concern. At present times, agribusiness in Shropshire Idaho flourishing and come oning greatly. ( Cox et al, 1989 )2.1.1 Farming Facts-Agriculture in Shropshireâ€Å" 2.2 % of work force is straight employed in agribusiness † Agribusiness supports 22.5 % of the county ‘s work force † â€Å" In 2001, there was 5,330 actively farmed agricultural retentions † â€Å" Average farm size in Shropshire is 54 hectares † â€Å" It utilises 82 per cent of the county ‘s land country † â€Å" The portion of little farms has increased while medium sized farms have decreased † Beginning: Shropshire Farming Study, ( 2002 ) Figure 2: The autumn in agricultural Employment. P.7 ( Shropshire Farming Study, 2002 ) Figure 2 shows that the figure of agricultural employment has fallen from 14,295 to 12,205 doing a lessening of 2090. This could be due to there being better farming engineering so less agricultural workers are needed. Figure 3: The Change in Farm size Structure. P.6 ( Shropshire Farming Study, 2002 ) Figure 3 shows that the figure of little farms from 1981 to 2001 has rose 20 % and the figure of medium sized farms has decreased by 17 % .Location Landscape, Geology and LandscapeShropshire ‘s geology is really diverse with big sums of lead, coal and Fe. Figure 4 shows the different types of stone around Shropshire. The North of Shropshire has a more level land which is really fertile. This portion of Shropshire is more mostly populated. The North ‘s agriculture is chiefly cultivable. The South of Shropshire is a more rural country with fewer colonies. Its landscape is full of hills, rivers and forests. Farming in this portion of Shropshire is chiefly pastoral. Shropshire ‘s clime is moderate and gets really cold in the hilly countries when in the winter season. ( Wikipedia, 2010 ) Figure 5 shows the clime norms. Figure 4: Shropshire Geology ( Wikipedia, 2000 ) Figure 5: Shawbury Climate Averages ( Met Office, 2007 )2.2 Soil Type ( Main )In Shropshire, illustrations of all types of dirt can be found from sandy to loamy dirts. This is due to glaciation taking topographic point around the country. Shropshire ‘s prevailing dirt type is flaxen dirts such as the underlying ruddy sandstone stone which is found in North Shropshire. This is the most widely distributed dirt type and is chocolate-brown in coloring material and to red in dirt deepness. This type of dirt is formed from weather-beaten stones such as limestone, vitreous silica, granite, and shale. In Shropshire it is chiefly harsh sand. This can ensue in murphies holding a hapless skin coating impacting the agriculture system. It is besides prone to over-draining and summer desiccation, and in moisture weather it can hold jobs retaining wet and foods. ( EAIS, 2010 ) This dirt is of course acidic and needs regular liming. It is besides low in potassium hydroxide and Mg. ( Jefferson, 2010 ) Manganese lacks are incurring here. This can impact the agriculture system as it caused slow works growing so husbandmans will be less productive. Littorals are prone to weave eroding, H2O eroding and leaching. Its harvest suitableness is chiefly for barley, murphies and malting. Coarse sand has a atom size of 0.2-2mm and has a really farinaceous texture. It can be similar to builder ‘s sand. The single atoms can be seen easy. ( Jefferson, 2010b ) With flaxen dirts the malleability is low and is non cohesive doing low stableness. Due to seedbeds being loose, deep boring can happen doing unneeded works loss. Excessive cultivations under wet conditions can do dirt sums to prostration. This consequences in a compacted bed when dried out doing harvest growing difficult. Due to there being quite a batch of infinite between atoms, the sandy dirts can be really free run outing intending it does non keep H2O and indispensable foods good. As the dirt moves down the H2O table easy it can make a high H2O tabular array doing a groundwater drainage job due to the dirt being permeable. The flaxen dirts dry out really easy so a batch of irrigation is needed. The alimentary position of sandy dirts is of course low particularly in potassium hydroxide. Due to the dirt being chiefly acidic it has a low PH. The organic affair of sand dirts is of course low besides of approximately 1-2 % . The organic affair is of import to keep as iy aid adhere dirt atoms together to keep foods. It besides helps dirt to keep wet, which can be a job for sandy dirts. The organic affair can assist supply birthrate to the dirt as a beginning of N assisting the agriculture system. Dirts with better organic affairs and alimentary positions will bring forth a better harvest. ( Jefferson, 2010c )Farming Enterprisesâ€Å" Sustainable agribusiness can be defined as the production of alimentary and wholesome nutrient with well-being and wellness of future coevalss in head due respect to environmental impact preservation of agricultural resources † ( Jefferson, 2010 ) The current agricultural policy can specify sustainable agribusiness through its point of policy including: â€Å" Guaranting the go oning handiness to the consumer of equal supplies of, wholesome, varied and moderately priced nutrient, produced within conformity with by and large accepted environmental and societal criterions † â€Å" Keeping a flexible and competitory industry which contributes to an economically feasible rural society † â€Å" Ensuring effectual protection of the environment and prudent usage of natural resources † â€Å" Conserving and heightening the landscape, wildlife, cultural and archeological value of agricultural land † â€Å" Respecting a high degree of animate being public assistance † Beginning: ECIFM ( non dated ) A agriculture system is a system made up of inputs, procedures and end products. It is the different types of agriculture and methods used in agribusiness such as cultivable or grassland farming which can include dairy agriculture or the raising of farm animal. Due to the dirt type being sandy the harvests that are grown in the country are barley, murphies and malting. The 2001 nose count informations showed that 5 % of the national dairy herd are in Shropshire and that Shropshire grows 5 % of all murphies grown in England doing it a chief agriculture system for the country. ( Shropshire Farming Study. P5. 2002 ) Crop rotary motion is used to assist the sustainability of the agriculture. â€Å" A well-arranged rotary motion enables the work of the farm to be good distributed over the twelvemonth, and provides steady employment for a whole-time staff. † ( White, 1937 ) The advantages of harvest rotary motions: aˆ? Provides care of good dirt construction and organic affair aˆ? Crontrols certain dirt and straw residue borne plague and diseases aˆ? Ensures the agriculture pattern is sustainable aˆ? Gives the best profitable border Beginning: Jefferson ( 2010 )ArableWinter wheatShropshire grows root and combinational harvests with a high value giving. An illustration of this is Winter Wheat which is traditionally grown after a interruption harvest foremost. 2nd Winter Wheat is at hazard of trash borne dieseases. An illustration of a root disease found is Take-all. This is common in 2nd wheats as the fungus builds up in the roots and dirt. Compaction of harvests which can diminish the growing of root will increase wil increase the degrees of Take-All. This causes high hazard of output loss. ( Jefferson, 2010 ) â€Å" Take-all is arguably the most of import disease of wheat in the UK, partially because it is non easy controlled chemically or by varietal opposition and relies on rotational schemes for control. † ( Cereal Disease Encyclopaedia, non dated ) By obtaining a good harvest rotary motion the disease can normally be treated and prevented. Having 50 % of more land in cereals with a twelvemonth interruption on occasion can diminish the jobs and may handle it. ( Jefferson, 2010 )Oil Seed RapeOil Seed Rape is a valuable hard currency harvest and has helped to replace sugar Beta vulgaris in Shropshire which two old ages ago was dropped due to the mill shutting. Oil Seed Rape that has been grown intensively is under menace from club root. Club Root causes roots to swell and hence harvests will non turn successfully. To obtain sustainability Oil Seed Rape should non be grown more than on in four or five old ages. As the harvest has good competitory ability it therefore enables it ‘s agriculturists to utilize less weedkiller in the rotary motion. An illustration of harvest rotary motion for sustainable production is Winter Oil Seed Rape, Winter Wheat, Winter Oats, Winter Beans, Winter Wheat and Winter Barley.PotatosPotatos are valuable in Shropshire and are grown mostly. They are nevertheless at hazard of dirt borne plagues such as Potato Cyst Nematode. This is the most of import plague of murphies in the UK. This can do weak workss with dull looking leaf with inclination to wilt. It besides causes little cysts attached to roots. ( Potato Council, 2008 ) A good harvest rotary motion is used to supply a sustainable harvest. An illustration of good pattern that is used is Potatoes, Winter Wheat, Winter Barley, Sugar Beet, Spring Wheat and Winter Barley. Some husbandmans use the bare minimal good practicing which is 1 in 4. E.g. Sugar Beet, Winter Wheat, Potatoes and Winter Wheat.GrasslandIn Shropshire, there are big sum of dairy agriculture and is good known for its good beginning of milk production as they have a batch of pastoral agriculture. This is why there are many dairy mills located around Shropshire. ( Shropshire Farming Study. P5. 2002 ) Dairy farming relies on high quality grass or other eatages such as corn to guarantee of the best quality milk. An illustration of high quality grass is Perennial Rye Grass. This is the chief type of grass used. Farmer mix this with trefoil which fixes N significance they have to utilize less N in farming assisting the sustainability of the agriculture and assisting the environment. This is an illustration of renewing agriculture. Within corn there are beginnings of energy which is utilised by organic manure therefore doing the farm animal direction of import besides to assist obtain good grass quality. ( Jefferson, 2010 ) To assist maintain the grassland sustainable, when the grass has dried up some husbandmans grow other harvests such as adding a wheat to the land which can4.0 Environmental Practices

Human Resource Management Essay Example | Topics and Well Written Essays - 1750 words - 1

Human Resource Management - Essay Example This essay discusses that human resource management is significant to the organization in that it encourages people to perform very difficult and challenging duties. It is important to note that, every organization faces challenges. Experts are required to perform various tasks. However, a consideration into the future of the organization calls for it to train and develop various skills for any eventualities. It is worth noting that human resource management offers apprenticeship to the new employees. It is for this reason that, every organization recruits new brains. These resources however well learned, require to be trained to be acquainted with the organization’s policies and goals. Human resource management increases the rate of performance of the organization. Organizations warrant recognition for their performance and competence. This strives to increase the magnitude of the organization’s profitability An organization needs to set its goals and objectives to hel p it focus on their results. Training, education, and development of human resource spearhead an organization to meet these objectives. Development in an organization can be prompted by several reasons. It can be because of an organization desiring quality performance from its workers. Secondly, it can be a requirement by the government, trade, or labor unions or because of an observable need by the people in charge such as the supervisors with regard to the workers. It is done through various means including allowing the apprentice to examine carefully what others do, training from predecessors or experts, one on one interaction with the apprentice, guidance, provision of forms to fill in the difficulties experienced during the day and follow up of secondary written or audio tapes or through assignments. All these are geared towards obtaining strong employees to meet the needs of the organization and its clients. Every organization should engage in this area of human resource manag ement to achieve the desired results. For instance, the desire to retain the top position in education, made Berkeley Campus realize that they needed to train their employees. This would help them cope with the changes in this field and their desires for sustainability in the years to come. Development strategies The management at Berkeley campus realized that growth of the employees required concerted efforts of all stakeholders. This strategy ensures that every effort and activity within the institution supports workers growth. It looks into what the students and their parents can do to contribute to this matter. It also emphasizes the need to cooperate with the workers to ensure that what they learn is compatible to the job they do. The workers are also encouraged to follow the write ups that encourage employee development. These can be done through formal means such as production of weekly briefs, purchase of booklets dealing with the topic in question and also coming up with a library and equipping it with the necessary materials. Moreover, it focuses on the desire of the employees to grow. This can be induced or as a result drive. Berkeley campus needed to compete effectively in the education sector. They therefore came up with trainings to be undertaken. They include: i. Improvement in managerial skills ii. Job growth iii. Acquisition of elementary abilities iv. Technical knowhow v. Academic knowledge It is evident that employee training improves the output of the organization and those of the employees themselves. Improvement in managerial skills This skill involves equipping people in order for them to lead others. Not all employees in an organization perform menial jobs. Berkeley campus for instance, realized that there were

CHROMATOGRAPHY (ANALISIS CHEMISTRY) Coursework Example | Topics and Well Written Essays - 1000 words

CHROMATOGRAPHY (ANALISIS CHEMISTRY) - Coursework Example In thin layer chromatography, a thin, uniform layer of silica or alumina gel was traditionally coated on a piece of glass. The mixture was dissolved in an appropriate solvent and the glass plate was immersed in the liquid. The movement of the individual components of a mixture takes place at different rates and the distance travelled by each component is measured and the data so obtained is used to calculate the Rf value is calculated by dividing the distance travelled by the component with the distance travelled by the solvent. Rf values are then compared with standard values to identify the suspected component. Fluorescent materials are incorporated into the stationary phase to identify colorless components which are invisible to the naked eye. Such components are visualized using ultra violet light. Separation of components of a mixture depends upon their affinity for the solvent as well as the capability of bonding with the stationary phase which is rich in hydroxyl groups. Van d er Waals forces also operate between the components and their affinity or repulsion from the stationary phase and determine the distance moved. Column chromatography was advancement in the technique where the stationary phase was packed inside a column (glass tube) and the mobile phase with the dissolved investigative mixture poured from the top. The movement occurred under the influence of gravity as well as the attraction of the components in the stationary phase, allowing identification of individual components. HPLC (High Performance Liquid Chromatography/High Pressure Liquid Chromatography) is a modern technique used to separate desirable or investigative chemical compounds from other compounds in a liquid sample. The investigative compounds are dissolved in an appropriate organic or inorganic solvent known as the mobile phase and the mixture is passed under pressure through specific columns which constitute the stationary phase.

Ratio analysis and the applications Essay Example | Topics and Well Written Essays - 1250 words

Ratio analysis and the applications - Essay Example The first one is that valuation must be done in a prudent way. This means that when valuing assets on should make sound decisions in order to value the assets in question correctly the second principle states that; profits that are made in the balance sheet are the only profits that should be included in financial statements. The third principle stipulates that depreciation should be considered when reporting for a financial year regardless of whether it causes a gain or a loss. An example of where the prudence concept is normally used in accounting is when calculating profit or loss. For example, some liabilities are based on the possibility of an event occurring in the future and is expected to generate a profit or loss. If the likeliness of it happening is more than 50% it should be recorded depending on whether it results in a profit or loss. An example of such an event is a law suit. b) The Matching Concept This is a principle in accounting that stipulates that charges and incom es which relate to a financial year must be recorded regardless of the date when the payment of the charges or income was receipted. According to (Hoque, 2006), it is the accounting approach of allocating expenses to their respective incomes. The matching principle of accounting is governed by a number of principles. ... This means that account policies adapted by a business organization should follow a particular principle. This concept aims at allowing comparability of the business organizations’ financial positions and the results of their business activities. The concept puts forward the standardization of financial statements in terms of recording and valuation. An example is when a business institution is calculating depreciation on its assets, for example, a staff van. If the company chooses to use a method in calculating depreciation of the van for instance, the strait line method; it should stick with the method when calculating future depreciation of the van and other assets. This will help in comparing the depreciation of the van and other assets. d) The going concern concept. This is a concept that stipulates that any business establishment is expected to grow in its corporate life irrespective of the shareholders or owners lifespan. The going concern concept is the main idea behin d the costing concepts. However, it is important to note that the going concern should be explained at the end of very financial statement if it has been deemed invalid. A business establishment is regarded as a going concern when there is no intention to wind up the business.  An example of where this concept is used is when a business institution acquires an asset, in the profit and loss account the asset is not recorded at its present market value. However, it is recorded minus its depreciation since it will be used for a long period of time. e) The Concept of Double Entry This is a concept in book keeping which stipulates that all changes in accounting information must reflect in at least two ledger

Importance of Good Communication Skills Essay Example | Topics and Well Written Essays - 500 words - 22

Importance of Good Communication Skills - Essay Example Huge tasks were easily achieved through team work proper cooperation amongst individuals. Lack of teamwork resulted into a series of disagreements and the struggle for superiority which slowed down progress. In addition to the two lessons I have mentioned above, I also learnt on the importance of proper leadership skills especially for the managers of the organization. Poor leadership skills, such as lack of rules and regulations in the organization can sink down an organization like it attempted to in this organization. Personally, I have added value to my organization through learning the foreign language Spanish for 60 hours in three months, hence enabling me to communicate effectively with Spanish speaking clients. Many Spanish speakers therefore feel a sense of belonging to the organization (Tovey, 1998). My professional development as a sales agent through the learning of Spanish has spiraled me to higher levels. I was, six months ago appointed to be the regional supervisor for sales agent for six states with a major on the states populated with Mexicans, with a salary that is twice what I got as a sales agent. Besides my organization and my clients gaining from my development, my family has also gained. This is because, my monthly income has improved, and I can afford a better house, and a better school for my children. To identify my learning and professional needs, I look at the needs of the clients and the organization at large. For example I identified the need to study Spanish to communicate with the increasing number of clients of Mexican Origin. In the next one year, I seek to advance my skills in the sales industry by acquiring a Masters degree in Sales and Marketing. Secondly, I would also like to develop my team functioning skills by enrolling for classes with the human resource department.

Cardiac Care Essay Example | Topics and Well Written Essays - 500 words

Cardiac Care - Essay Example d these are: 1) to restart the heart as quickly as possible, and to start cooling as early as possible, and 2) transport patients to a single-specialized post-resuscitation facility in hopes of preserving their brains. It was known typically that in EMS system, cooling begins after return of spontaneous circulation or ROSC. However, it was recently discovered that patients are cooled as resuscitation attempts occur, and receive a broad complement of additional therapies and support both pre-hospitalization and in hospital as studied by Virginia Commonwealth University (VCU) Medical Center. Chairman of VCUs Department of Emergency Medicine and medical director of the Richmond Ambulance Authority, Joseph Oranto, MD, had explained the motivation with such approach. He said â€Å""Our approach was to do something a bit different.† He had explained the need for early cooling as part of EMS based on his conducted study. He had stated, "The basis is animal data that pretty consistently suggests that the earlier you initiate cooling, particularly during the resuscitation process, the more likely you are to get a good neurologic outcome." Ornate pointed out even though the early studies to prove that the spontaneous circulation had improved the chance of survival had been failed, he is taking chances with the EMS approach of cooling early will be absolutely proven to be beneficial for the patients. As the time the article was written, they are still at the early stage of application of cooling early after ROSC. 1) Good quality CPR that includes automated chest compressions and interposed ventilations. This is being performed for 2 to 3 minutes before the rhythm is determined and should not be stopped during defibrillation. 3) Cooling is achieved with 4 °C saline when drugs had restarted the heart. This is a treatment in which vasopressin and epinephrine are being alternately used. Drugs are given IO whenever IV is not able to achieve in its initial pass. During the

Change management (organisation) Essay Example | Topics and Well Written Essays - 3000 words

Change management (organisation) - Essay Example To the hopeful it is encouraging because things may get better. To the confident It is inspiring because the challenge exists to make things better. It would be appropriate to distinguish between â€Å"change† and a â€Å"project† right at the out-set. A project is a temporary and one-time endeavor undertaken to create a unique product or service, that brings about beneficial change or added value. (1). A change, referred to in this context, includes a broad array of topics. From an individual perspective, the change may be a new behavior. From a business perspective, the change may be a new business process or new technology. From a societal perspective, the change may be a new public policy or the passing of new legislation. Successful change, however, requires more than a new process, technology or public policy. Successful change requires the engagement and participation of the people involved. (1). For organizations to develop, they often must undergo significant change at various points in their development. Change in organizations occurs when the organization changes its overall strategy for success, adds or removes a major section or practice, and/or wants to change the very nature by which it operates. (2). It also occurs when an organization evolves through various life cycles, just like people must successfully evolve through life cycles. (3). Ackerman (1997) has distinguished between three types of changes:- Transformational Change Also known as Organisational Change it is radical in nature comprising basically a paradigm shift in the organisation and its members. Transformation results in significantly different structure, processes, culture and strategy. Although the concepts and principles of change presented in this paper are applicable to all types of change, the essence of this paper is biased towards Transformational Change in higher educational institutions, particularly Northumbria University. (4). Northumbria University

Introduce ZED buildings principles and its Philosophy in relation to Essay

Introduce ZED buildings principles and its Philosophy in relation to Energy efficiency policy,why ZED is becoming one of the mos - Essay Example Efforts have been made in order for the negative effects of building projects on the natural environment to be minimized – for example, the update of existing British legislation on wildlife and the adoption of Kyoto Protocol by a series of countries worldwide (The Telegraph 2010). The ZED building philosophy is the major initiative of this type. The specific framework has been primarily promoted by organizations operating in the private sector – reference is made to ZED Factory, a firm focusing on the expansion of ZED building philosophy in building projects across Britain. However, the ZED building principles – as analytically explained by ZED Factory – could be easily adopted by firms of the construction industry; this effort would have more chances to succeed if the relevant principles were gradually adopted – for instance, through the incorporation, primarily, of energy saving schemes, a fact highlighted in the BedZED (eco-village) scheme (BedZ ED, Eco-Community, 2011). Moreover, the support of the state would increase the effectiveness of ZED building principles on existing building projects; this initiative could be developed worldwide – using the theoretical and practical framework suggested by ZED Factory, as explained throughout the paper. The examination of the existing status and performance of ZED building philosophy has led to the conclusion that the specific framework would be quite effective for limiting the negative effects of construction projects on the environment; moreover, its principles are rather easy to be understood and incorporated – being related with the existing energy efficiency schemes as promoted both by individuals and the state. 2. ZED buildings principles and philosophy – description The ZED building philosophy has many different aspects; however, its priority remains the increase of energy efficiency of buildings. Through the years, ZED philosophy has been developed in o rder to meet the advanced requirements of modern buildings – as these requirements have been affected by the technology used in various stages of the relevant building projects. It should be also noted that ZED philosophy couldn’t be understood without referring to its forms and implications in practice, i.e. in the context of buildings on which ZED building principles have been applied. For this reason, the presentation of the particular philosophy has been combined with the reference to construction projects, which have been based on the ZED building principles. An important example of this type is the eco-village BedZED; the buildings of this village have been constructed in such way, so that an important reduction of energy consumption is achieved. Indeed, in a report developed in 2009, i.e. seven years after the completion of the specific building project (in 2002), it was mentioned that the homeowners of the specific site consumed ‘45% lower electricty and 81% less hot water than the borough average’ (PeaBody Organization, UK, 2009, 4); it is also noted that the initial targets of the particular project, i.e. the limitation of the energy consumed by the homeowners and the following limitation of the pollution caused to the environment, have been both

Lord of the Flies Homework Essay Example for Free

Lord of the Flies Homework Essay Piggy is clearly a clever boy, but he is a victim too? How does the writer use him in the novel? Lord of the Flies is about a group of schoolboys stranded on an island. The boys have to fend for themselves and try to get rescued. One of the main characters in the book is Piggy. The second person we find out about on the island is Piggy. We never find out his real name because he was always called Piggy and at the beginning Piggy also says They used to call me Piggy. He said this to Ralph because he trusted him and wanted to build friendship with him. Ralph makes fun of him, which shows the first sign that he is a victim. When Golding first introduces Piggy, he is described as the fat boy, whereas Ralph is described as the fair boy and as an athletic person. This contrast between the two characters makes Piggy seem inadequate in comparison to Ralph. This consequently makes him a likely victim too. It also makes Piggy the most physically vulnerable character because he is overweight and has asthma. Golding uses Piggy as a representative of an adult on the island. Even though at the start he repeatedly talks about his aunt, My auntie told me not to run, which sounds very childish, but as the rules of civilisation fall away from the island, he does not mention his auntie any more. On several places throughout the novel Piggy wonders about what grownups would say. He longs for the order and structure that adults impose. On times when Ralph thinks about what will happen next Piggy says they just have to carry on because that is what grownups would do. When the boys go rushing off to light the fire on the mountain, Piggy describes them as crowd of kids and follows them with the martyred expression of a parent. These examples clearly show that Golding uses Piggy to replace the grownup world. Another example of his maturity is when he wants the shelters to be built, The first thing we ought to have made was shelters down there by the beach Then when you get here you build a bonfire that isnt no use. Now you been and set the whole island on fire. This shows also that Piggy had common sense by wanting to build the shelters on the beach first, which might be boring, but better than the doing exciting things first like the other boys think. The writer also uses Piggy as a symbol of intelligence and civilisation. This however did not benefit the rest of the boys directly. If this was the case, he probably would not have been victimised at the end. The main reason for this might be that he did not have any leadership qualities, as an obese person, having asthma and wearing glasses would not be able to do certain things. His look did not fit into the profile of a powerful leader and he did not have the charisma a leader needs. Instead of this Piggys intelligence was used and published by Ralph, which left him with nothing to tell the group that they would recognise. This made Piggy even more of a victim because nobody apart from Ralph really noticed Piggys intelligence. Ralph needed Piggy and that is why he was able to notice his intelligence. Piggy was someone who reminded Ralph back to civilisation when his thoughts began to drift away. Piggy knows all sorts of things like at the beginning he finds and also tells Ralph how to use the conch and that it would make a noise, which would then call all the boys together. This also shows his intelligence. The physical appearance of Piggy is his biggest fallback of his ideas he puts into the assemblies. Often his ideas are completely ignored, because nobody recognises how important they might be. Because Piggy is very sensitive too and Jack continuously bullies him, he does not get any respect from the other boys. The fact that Jack is successful in doing this to Piggy, other boys get frustrated and choose to ignore him and follow Jacks influence. Once rules are established, in Piggys eyes, breaking them is unthinkable because he stays civilised throughout the whole novel. On several places in the book he says Ive got the Conch. Let me speak and a lot of referring to the conch because he sees the conch as an important symbol unlike the other boys. Whereas the other boys on the island do not care about rules at all Piggy cares a lot about them. He is unable to adapt the living without law and order and does not comprehend why the other boys can. Piggy gets killed in the end because Jacks tribe gets fed up with Piggy and his importance of the conch and rules. By the treatment of Jacks tribe towards Piggy Golding wants to show that a society also needs a scapegoat. The boys choose Piggy because of his physical appearance and because they do not understand his intelligence and the need of it. By picking Piggy as the scapegoat they make themselves feel better. Jack, who bullies him most, also slaps him on the mountain because he knows that Piggy will not be able to take revenge on him as Piggy is a fat boy having asthma. This makes Piggy a victim too, because it shows that everyone on the island could do anything to Piggy without worrying that he might not revenge. Even the name Piggy makes him a victim. I think Golding called him so because he is the victim of the island. His name is used as he is the prey of the island just like the pigs that are killed for food. This is done to show how society victimises people. In conclusion Piggys character is the symbol of civilisation and intelligence. He mainly becomes a victim because of his physical appearance and his inability to do certain things because of his asthma. I think Golding chose to victimise Piggy because he wanted to make the reader feel sympathy towards a civilised, kind and intelligent character, no matter how his physical appearance is.

Effective Time Management for Success

Effective Time Management for Success Time management is a vital aspect for college success. By managing your time more efficiently you can become less stressed, finish projects and assignments on time, and put an end to procrastination. Time management is not just about rearranging your time, its about rearranging your entire thought process. The first step in effective time management is setting goals. Self-discipline is a valuable skill that helps you influence different aspects of your life whereas a lack of self-discipline keeps you from setting and achieving meaningful goals.(Newman, Floyd) When it comes to making goals there is a method that was created by George Doran, which was published in the November 1981 issue of the Management Review. This method is called the S.M.A.R.T method.(Scott, S.J.) This is an acronym that stands for: Specific, Measurable, Attainable, Relevant and Time-bound. Specific goals answer your six W questions: who, what, where, when, which and why. (Scott, S.J, (p. 12) When you can break down the long term goals into a subset of short term goals, youll be more able to identify exactly what steps you are going to need to take to reach your goal. Each short term goal should have a specific outcome. Once you have a specific outcome you are looking for, you need to ensure it is measurable. Measur able goals are goals with clear attainable outcomes. Both long term and short term goals should have some point of reference to see if you are making progress. This means that each goal should have a specific deadline that you are reaching for. The third step in the S.M.A.R.T model is making goals attainable. You should be able to achieve goals, but they should not be so easy that they are easily within reach. You should challenge yourself to reach goals. Make the goal seem a little out of reach, so even if you fail, you still have accomplished something significant. The fourth step is to make goals relevant. Make sure that goals are relevant to your life, that they are what you really want or need. If you have goals at school, your career, and your personal life, it is helpful to integrate them. By integrating goals into all aspects of your life, it gives you more drive to reach for them. It lets you know that each component of your life works together to help you succeed to the be st of your ability. [Goals should be] in harmony with everything that is important in your life, from success in your career to happiness with the people you love.(Scott, S.J., pp. 13-14, Kindle edition) The final step is time bound. Every goal should have a very clear time line. You can set this time line anyway you want, whether you want to be accomplished today, tomorrow, next week, or in a year from now. The key to creating any time line for goals is that you set the time and work backward, marking concise benchmarks along the way. This way you know when the goal needs to be complete, and where you should be in the process of success. Now that you know what your goals are, it is important to set priorities. Decide what is important and what is not. Make a list of these priorities and put them in order of what needs to be done first, second, third, and so on. One you understand what your priorities are, it is important to plan out a schedule for the whole semester as a whole. The second step in effective time management is scheduling. Making a schedule for the whole semester will help you understand where your priorities stand, and what should be worked on and when. Calenders are one tool that is imperative to the time management process. You should begin by looking at each class syllabus and block in all school and lab times. Secondly, you should block in all standing commitments such as work, church, meetings and so on. Next it is important to highlight all exams and project due dates. This will help you break down your academic routine for homework and study days. Look at your calendar and work backward from exams and papers. This will help you determine when to start working on your papers or study for exams. Beginning every week, you should spend roughly thirty minutes looking at your calendar and mapping out the week. Remember to ask yourself questions about the week. What are your expectations? What do you plan to accomplish during the week? What t asks are more important than others? What will you have to do to reach your goals? How much time will each activity take? When will I do each activity? Remember to keep goals realistic, theres only twenty-four hours in a day, and you need to rest some of that time. It is also thought that if you study at the same time each day, you condition your brain to know that it is study time, this makes studying a habit. It is also thought that dividing study time into fifty minute blocks, followed by a ten minute break, helps you retain information better, and sets you up for higher success. As part of the scheduling process it is important to revisit and revise your schedule. Take an inventory of how you are choosing to spend your time. Was there any time that was wasted? What did you accomplish? What didnt get done? What changes need to be made to your weekly schedule to help you succeed? Are you sticking to your plans and goals? Is procrastination an issue? These questions can aid you in understanding where your time is being spent, what changes do or do not need to be changed, and help you take an inventory of your self. Once you take an inventory of how your schedule is going, it will help you to be able to understand more of what you have to do to be successful in your goals. Procrastination is arguably productivitys number one enemy. (Newman, Floyd. Time Management: The Art Of Being Productive (Increase Productivity, Get Organized And Get Things Done) (Increase Productivity Reduce Stress Save Time Book 1) (Kindle Locations 219-220). Kindle Edition.) It is hard to fight procrastination because it is a mental battle that one must fight. You have to dedicate yourself to be on time and to stop doing what ever you are using as an excuse not to complete your work. One of the best tools you can use to help you conquer procrastination is to divide a big job into smaller parts. When you break them down to smaller chunks, you avoid being discouraged or the temptation to procrastinate. (Taylor, Dane. Time Management: The Ultimate Productivity Bundle Become Organized, Productive Get Clear Focus (Time Management Tips, Time Management Skills, Productivity Hacks) (Kindle Location 1203). UNKNOWN. Kindle Edition.) This makes the goal more attainable and helps you feel accomplished along the way. When you break them down to smaller chunks, you avoid being discouraged or the temptation to procrastinate.

My American Dream Essay -- Personal Narrative Writing Essays

American Dream: what is your definition of it? Does it involve money? Does it involve love? Does it involve healthiness? People have different definitions of what they would want in their "American Dream." First of all, let's define American Dream. American Dream is what you would consider a "perfect life." It can be full of happiness, money, love, food, cars, whatever you desire; everyone has a different opinion. One person?s American Dream may be totally different from someone else?s; that is what makes us all individuals. Robert Wuthnow writes about different people?s American Dream in his essay "Having It All." Throughout Wuthnow's essay, it seems that not too many people are truly living out their American Dream. Many complain about having to work to much, not enough time with the family, not enough pay, and so on. My American Dream would include a good job and lots of money, spare time for my family and I, and most importantly, healthiness. First, money is very important in my American Dream for obvious reasons. Money gets you food. Money gets you shelter. Money gets you nice things. I believe that money, lots of money, is a big part of everyone?s American Dream; everyone including myself. When most people think of money the first thing that comes to mind is luxuries; however, money is needed for the bare necessities such as food and shelter. But how do you acquire money? Through a good job of course. Having an enjoyable, good paying job is extremely important. I am a firm believer that if you enjoy what you do, you do not have a job, you have a career. Many Americans also include jobs and money in their American Dream: ?Throughout much of our nation?s history people pursued the American Dream by... ..., many people think about having millions and millions of dollars; however, they fail to consider the little things that can truly make you happy. Little things such as family and friends, and most importantly, good mental as well as physical health. If you are healthy but live in poverty, you are not truly living your American Dream. If you are a millionaire but are dying from a disease, you are not truly living your American Dream. So what exactly does it take to live a ?perfect life?? That is a question that has no right or wrong answer; it simply depends on whom you are asking. Enjoyable job, plenty of money, spare time, and healthiness define my American Dream; what is the definition of yours? Works Cited Goshgarian, Gary. The Contemporary Reader. 6th ed. New York: Longman, 1999. Wuthnow, Robert. ?Having It All.? Goshgarian 498-504.

Great Expectations by Charles Dickens :: Great Expectations Essays

Great Expectations by Charles Dickens Chapters 1-3 give you a feeling of welcoming. The first three chapters aren't just comical but in some places they are edgy. The humour makes it enjoyable to read and the apprehensive situations make you want to read on to see what happens. Right from the beginning Dickens has aroused the readers interest. The story is told in First Person Retrospective Narrative. This enables Dickens in the early chapters to re-create the child's eye view whilst fusing it with adult judgements. ================================================================== Instantaneously we know that it is wrote in First Person Retrospective Narrative because of the use of the pro-noun "I". The main character "Pip" is introduced straight away and we find out his situation. Pip introduces himself and tells you a brief background on himself. He explains where he got his name from and that his sister has been a mother type figure to him as all his brothers and parents are deceased. ====================================================================== "MY FATHER'S family name being Pirrip, and my Christian name Philip, my infant tongue could make of both names nothing longer or more explicit than Pipà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦--I am indebted for a belief I religiously entertained that they had all been born on their backs with their hands in their trousers-pockets, and have never taken them out in this state of existence." ---------------------------------------------------------------------- Pip laughs at his own childish inexperience as he pictures his parent appearance just from the tombstones. By the third paragraph he has already established the setting - marshland (Desolate Area). He tells us what time it begins at - Twilight. (Anxiety already created). "On a memorable raw afternoon towards evening." We already suspect something to take place. The convict enters suddenly and Pip is startled. Quick exchanges between the characters gives a tense feeling. The convict steals Pip's bread and scoffs it as if he hasn't had anything to eat for some time. Chapter 2 opens with Pip's naivety setting in again as he describes

Essay --

As early as 2010, 35.7% of adult Americans are obese, which is the highest level of obesity in the history of the United States. There are a number of environmental factors that contribute to obesity, the majority being the number of fast food restaurants and the recent outbreak of binge eating. Evidence shows that bingeing on sugary, tasty foods increases dopamine in the brain and in doing so possesses addictive habits. Apparently there have been several psychological and biological similarities between food addiction and drug dependence including loss of control and craving. One of the articles will look at environmental factors that might contribute to the obesity epidemic, and it will also compare the medical similarities and differences of drug dependence and food addiction. Growing rates of overweight adults and obesity have prompted the comparison between the uncontrolled intake of food and drugs. It has been smart to follow biological concepts from addiction to explore obsessive food seeking; a model is needed to understand how food and drugs differ in their ability to control behavior. Another article will look at the difference and commonalities in the behavioral responses to food and to drugs of abuse, with the goal to identify and new treatments for drug addiction or obesity. One of the articles also focuses on eating disorder behaviors and posttraumatic stress. It states that this article was the first to reveal the relationship between PTSD and the occurrence of eating types of food such as sugar sodas and fast food. It mentions that the study had articulated mechanisms and behavioral pathways of how trauma and post traumatic stress can cause an increase in the causes of death in the United Sta... ...ect the impact of food addiction understandings on obesity and obese peoples. Studies found that seemingly strong public acceptance of neurobiological clarifications of obesity and overeating can co-exist with the view that individual choice is the major cause of obesity. Obese people were more likely to support the opinion that obesity characterizes an addiction to certain foods. The apparent disappointment of neurobiological explanations of overeating and obesity to change public views toward obese people and the treatment of obesity advises that these descriptions have not yet had the beneficial influences assumed by their supporters. As the idea of food addiction is established, its supporters need to pay greater attention to its effects on shame, treatment and policy and to assessing whether its net influence on public health is likely to be harmful or helpful.

Analysis on “The Merchant of Venice” by William Shakespeare Essay

In life, things are not always what they seem. People may appear to be one way but turn out to be an entirely different. The romantic-comedy, The Merchant of Venice, by William Shakespeare, shows the deliberate use of deception by the characters. Deception is a tool that is used for many purposes. The purposes can be harmful, protective or for personal gain. In The Merchant of Venice, Portia, Jessica, and Shylock are all characters who use deception to carry out their own motives. Shylock, the hated Jew, makes his living through the practice of usury and uses deception when Antonio asks to borrow money from him. Shylock agrees to lend Antonio three hundred ducats if Antonio is willing to sign a bond that would allow Shylock to have â€Å"an equal pound of [his] fair flesh†(I, iii, 145-146). He expresses the bond â€Å"in a merry sport†(I, iii, 141) and uses this bond to also show that â€Å"[he] would be friends with [Antonio], and have [his] love†(I, iii, 134). Though Shylock’s description of the conditions in the bond makes it seem as if Shylock does not mean harm, his intentions are to harm and humiliate Antonio. Antonio says that â€Å"[he] neither lend[s] nor borrow[s] by talking nor by giving of excess†(I, iii, 57-58) and is willing to do that for his dear friend, Bassanio. At first, Antonio is not blinded Shylock’s friendly pretence, aware that Shylock â€Å"is like a villain with a smiling face [and] a goodly apple rotten at the heart†(I, iii, 96-97). However, in the end Antonio accepts the terms of the bond. The cruel use of deception from Shylock is to help fulfill his intention of revenge against Antonio. The deliberate use of cruelness in falsehood is also shown in Shylock’s own daughter, Jessica. Jessica runs off with her Christian lover, Lorenzo. Jessica is â€Å"asham’d to be [her] father’s child†(II, iii, 17) and describes that her â€Å"house is hell†(II, iii, 2). Jessica lies to her father when he asks her what his servant, Launcelot, said to her as he left the house. Launcelot actually told Jessica to watch out for Lorenzo who would be coming by the house later, but she tells her father that Launcelot just said farewell to her. Shylock, of course, trusts his daughter and does not know that she is deceiving him. Another deception by Jessica is when at the night of her elopement, she is disguised as a page boy. She must do this for women  are not allowed to be out in the streets at night during the Elizabethan times. While leaving, she steals and gives Lorenzo some of her father’s valuable possessions. Later on with the jewels she stol e from her father, her mother’s ring is among them and uses it to purchase frivolous things like a monkey. Jessica’s use of deception causes much grief for Shylock not only because of the stolen jewels and ducats but also the loss of his daughter. Portia is another woman who is involved many deceptive plots many which occur during the lottery of the caskets. The choosing of the caskets is bestowed upon her from her father who past away. The lottery involves suitors taking the chance of Portia’s hand in marriage. A particular suitor, the Prince of Morocco arrives to take this risk. In this scene, Morocco pleads Portia to â€Å"mislike [him] not for [his] complexion†(II, i, 1). Portia tells Morocco that she does not mind the complexion of his skin and that he is â€Å"then stood as fair as any corner [she] ha[s] look’d on yet for [her] affection†(II, i, 20). Once he leaves, however, Portia says, â€Å"Let all of his complexion choose me so†(II, vii, 78-79). Portia sets an innocent and admirable face when Morocco or any other suitor is choosing the casket, but the minute he leaves, she mocks them; all except Bassanio. Although this scene shows a cruel deception by Portia, she did it to be polite as was expected of her. Portia uses this deliberate deception further in the play but in a more dignified way. In Act 4 scene 1, Portia dresses as a male lawyer in order to deceive the court and save her husband’s friend, Antonio. She must disguise herself because in Elizabethan times, women were not allowed to participate in law or any other profession. This time, Portia’s deception is not harmful, but is a far more selfless act. Portia sees that disguise is the only method to save Antonio’s life that is very dear to her husband, Bassanio. Dressed as a young lawyer, Portia manipulates the law with her intellect and saves Antonio’s life from certain death by of Shylock. Shakespeare made use of deception and false face in The Merchant of Venice because it is part of our everyday lives. All three characters deliberately use deception in order to achieve their goal. There are many different motivations for the use of a false face and these are shown in The Merchant  of Venice. Whether it is Shylock using it for revenge, Jessica to search for a happier life or Portia to encourage peace, Shakespeare’s use of deception is for the audience to realize that for our own expediency, society takes advantage of the false face.

Amy Tan Essay

Although the daughters know some Chinese words and the mothers speak some English, communication often becomes a matter of translation, of words whose intended meaning and accepted meaning are in fact quite separate, leading to subtle misunderstandings. †¢The first mention of this difficulty with translation occurs when Jing-mei relates the story of her mother’s founding of the Joy Luck Club. After attempting to explain the significance of the club’s name, Jing-mei recognizes that the concept is not something that can be translated. She points out that the daughters think their mothers are stupid because of their fractured English, while the mothers are impatient with their daughters who don’t understand the cultural nuances of their language and who do not intend to pass along their Chinese heritage to their own children. Throughout the book, characters bring up one Chinese concept after another, only to accept the frustrating fact that an understanding of Chinese culture is a prerequisite to understanding its meaning. †¢The Power of Storytelling Because the barriers between the Chinese and the American cultures are exacerbated by imperfect translation of language, the mothers use storytelling to circumvent these barriers and communicate with their daughters. The stories they tell are often educational, warning against certain mistakes or giving advice based on past successes. For instance, Ying-ying’s decision to tell Lena about her past is motivated by her desire to warn Lena against the pa ssivity and fatalism that Ying-ying suffered. Storytelling is also employed to communicate messages of love and pride, and to illumine one’s inner self for others. †¢Another use of storytelling concerns historical legacy. By telling their daughters about their family histories, the mothers ensure that their lives are remembered and understood by subsequent generations, so that the characters who acted in the story never die away completely. In telling their stories to their daughters, the mothers try to instill them with respect for their Chinese ancestors and their Chinese pasts. Suyuan hopes that by finding her long-lost daughters and telling them her story, she can assure them of her love, despite her apparent abandonment of them. When Jing-mei sets out to tell her half-sisters Suyuan’s story, she also has this goal in mind, as well as her own goal of letting the twins know who their mother was and what she was like. †¢Storytelling is also used as a way of controlling one’s own fate. In many ways, the original purpose of the Joy Luck Club was to create a place to exchange stories. Faced with pain and hardship, Suyuan decided to take control of the plot of her life. The Joy Luck Club did not simply serve as a distraction; it also enabled transformation—of community, of love and support, of circumstance. Stories work to encourage a certain sense of independence. They are a way of forging one’s own identity and gaining autonomy. Waverly understands this: while Lindo believes that her daughter’s crooked nose means that she is ill-fated, Waverly dismisses this passive interpretation and changes her identity and her fate by reinventing the story that is told about a crooked nose. †¢The Problem of Immigrant Identity At some point in the novel, each of the major characters expresses anxiety over her inability to reconcile her Chinese heritage with her American surroundings. Indeed, this reconciliation is the very aim of Jing-mei’s journey to China. While the daughters in the novel are genetically Chinese (except for Lena, who is half Chinese) and have been raised in mostly Chinese households, they also identify with and feel at home in modern American culture. Waverly, Rose, and Lena all have white boyfriends or husbands, and they regard many of their mothers’ customs and tastes as old-fashioned or even ridiculous. Most of them have spent their childhoods trying to escape their Chinese identities: Lena would walk around the house with her eyes opened as far as possible so as to make them look European. Jing-mei denied during adolescence that she had any internal Chinese aspects, insisting that her Chinese identity was limited only to her external features. Lindo meditates that Waverly would have clapped her hands for joy during her teen years if her mother had told her that she did not look Chinese. As they mature, the daughters begin to sense that their identities are incomplete and become interested in their Chinese heritage. Waverly speaks wishfully about blending in too well in China and becomes angry when Lindo notes that she will be recognized instantly as a tourist. One of Jing-mei’s greatest fears about her trip to China is not that others will recognize her as American, but that she herself will fail to recognize any Chinese elements within herself. †¢Of the four mothers, L indo expresses the most anxiety over her cultural identity. Having been spotted as a tourist during her recent trip to China, she wonders how America has changed her. She has always believed in her ability to shift between her true self and her public self, but she begins to wonder whether her â€Å"true† self is not, in fact, her American one. Even while a young girl in China, Lindo showed that she did not completely agree with Chinese custom. She agonized over how to extricate herself from a miserable marriage without dishonoring her parents’ promise to her husband’s family. While her concern for her parents shows that Lindo did not wish to openly rebel against her tradition, Lindo made a secret promise to herself to remain true to her own desires. This promise shows the value she places on autonomy and personal happiness—two qualities that Lindo associates with American culture. †¢Jing-mei’s experience in China at the end of the book certainly seems to support the possibility of a richly mixed identity rather than an identity of warring opposites. She comes to see that China itself contains American aspects, just as the part of America she grew up in—San Francisco’s Chinatown—containe †¢ Storytelling – Narrative Style, Symbolism, Figurative Language †¢She uses storytelling to in order for the different characters to understand each others struggles as well as the reader to understand the lives and emotions of both the mother and the daughters †¢The stories they tell are often educational, warning against certain mistakes or giving advice based on past successes. For instance, Ying-ying’s decision to tell Lena about her past is motivated by her desire to warn Lena against the passivity and fatalism that Ying-ying suffered. Storytelling is also employed to communicate messages of love and pride, and to illumine one’s inner self for others. †¢Another use of storytelling concerns historical legacy. By telling their daughters about their family histories, the mothers ensure that their lives are remembered and understood by subsequent generations, so that the characters who acted in the story never die away completely. In telling their stories to their daughters, the mothers try to instill them with respect for their Chinese ancestors and their Chinese pasts. Suyuan hopes that by finding her long-lost daughters and telling them her story, she can assure them of her love, despite her apparent abandonment of them. When Jing-mei sets out to tell her half-sisters Suyuan’s story, she also has this goal in mind, as well as her own goal of letting the twins know who their mother was and what she was like. †¢Storytelling is also used as a way of controlling one’s own fate. In many ways, the original purpose of the Joy Luck Club was to create a place to exchange stories. Faced with pain and hardship, Suyuan decided to take control of the plot of her life. The Joy Luck Club did not simply serve as a distraction; it also enabled transformation—of community, of love and support, of circumstance. Stories work to encourage a certain sense of independence. They are a way of forging one’s own identity and gaining autonomy. Waverly understands this: while Lindo believes that her daughter’s crooked nose means that she is ill-fated, Waverly dismisses this passive interpretation and changes her identity and her fate by reinventing the story that is told about a crooked nose. †¢ All the stories in her books are interlocking personal narrative in different voices. The narrators appear as characters in each other’s stories as well as tell their own stories, Tan does not have to fully develop the narrator’s voice in each story. While American daughters like Jing-mei employ personal narrative as a way of telling stories, the ’’ Because this indirect means is the only way Jing-mei’s mother c an interpret and express her experiences, she is shocked into silence when her daughter speaks directly about the daughters she abandoned in China years earlier. Point of View †¢In â€Å"Two Kinds† the perspective moves back and forth between the adult and then child. In this way, Tan tells the story through the child’s innocent view and the adult’s experienced eyes. This allows reader to make judgments of their own, to add their own interpretations of the mother daughter struggle. Figurative Language †¢This literary device also invites readers to think about the way memory itself functions, how we use events in the past to help make sense of our present. Literary critic Ben Xu explains that ‘‘it is not just that we have ‘images,’ ‘pictures,’ and ‘views’ of ourselves in memory, but that we also have ‘stories’ and narratives to tell about the past which both shape and convey our sense of self. Our sense of what has happened to us is entailed not in actual happening but in meaningful happenings, and the meanings of our past experience . . . are constr ucts produced in much the same way that narrative is produced. ’’ †¢In other words memory is a two-way street; it shapes the story as much as the story makes the memory. In Xu’s words, ‘‘memory is not just a narrative, even though it does have to take a narrative form; it is more importantly an experiential relation between the past and the present, projecting a future as well. ’’ Tan’s style is mainly composed of storytelling as a way for her characters to share their history and retell the significant events of their lives. The Chinese mothers find it exceptionally difficult to talk about their lives due to the language barrier; therefore Tan uses a strategy that is borrowed from Chinese folk tradition called talk story (Brent). E. D. Huntley defines talk story as ‘‘a narrative strategy for those characters whose ties to Chinese tradition remain strong. ’’ It allows these characters to ‘‘draw on traditional oral forms to shape their stories and to disguise the urgency and seriousness with which they are attempting to transmit to their daughters the remnants of a culture that is fading even from their own lives. ’’ This means that the mothers, ‘‘who have been socialized into silence for most of their lives,’’ learn to ‘‘reconfigure the events of hese lives into acceptable public utterances: painful experiences are recast in the language of folk tale; cautionary reminders become gnomic phrases; real life takes on the contours of myth (Huntley). † Story telling serves many different functions in the novel. Primarily, the mother’s use storytelling to communicate with their daughters about their past and better relate to their daughters. In Kitchen God’s Wife, Winnie and Pearl have a hard time understanding each other’s situation as they have had a disconnect since Pearl was a teenager. However, after Winnie tells Pearl the stories of the hardships she had to face living with her abusive husband in China and how that has made her the hard person she is today, Pearl is able to connect better with her mother and understand where she is coming from. Another purpose of storytelling is so the mother’s can teach their daughters important life lessons that can help them be happy as many of the daughters are struggling with their marriages. Thus, she knows that the only way to save her daughter is to tell her story, the story of how her submission to fate and other people’s wills led to discontent and even agony. In her novels, Amy Tan allows her characters to employ storytelling as a device for shaping their histories and making coherent sense of the significant events of their lives. For these characters, storytelling is a means of keeping the past alive and building a bridge between it and the present, of transmitting cultural codes and rituals, of subtly educating their daughters, and finally of somehow imprinting the essence of their selves on the next generation. Tan is especially gifted at weaving multiple stories with a variety of narrators into the intricate fabric of each book. Tan herself has recognized her own ability to construct distinctive and memorable narratives, commenting that her storytelling gifts are responsible in large measure for the ongoing popularity-with readers and critics alike-of her work. She has said that her childhood exposure to Bible stories as well as â€Å"tons of fairy tales, both Grimm and Chinese† (Wang) has made stories a significant element in her writing, and she credits her parents with both instilling in her the impulse to tell stories and providing her with models for unforgettable. In an interview with Gretchen Giles, Amy Tan reveals that she learned the craft of story construction from her father, a very busy Baptist minister who managed to spend quality time with his children by reading his sermons to them and then asking for their opinions on content and language. Citations Xu, Ben. ‘‘Memory and the Ethnic Self: Reading Amy Tan’s The Joy Luck Club,’’ in MELUS, Vol. 19, No. 1, pp. 3-16. Huntley, E. D. Amy Tan: A Critical Companion, Westport, CT: Greenwood Press, 1998. Brent, Liz. ‘‘Amy Tan Criticism Overview. ’’ Short Stories for Students. Ed. Vol. 1. Detroit: Gale, 1997. 19–20: 288.

Harnischfeger Corporation

Financial Reporting & Analysis April 19th, 2013 Case Study- Harnischfeger Corporation 1. Describe clearly the accounting changes Harnischfeger made in 1984 as stated in Note 2 of its financial statements. The accelerated depreciation method was changed from to straight-line on all company assets that caused to increase after-tax net income for 1984 by $11. 005 million. The cumulative effect of change in 1984 there will be no reduction in the depreciation expense due to change. in 1984 decreased by $7. 0 million over the previous year.Most of this reduction was a result of the company's agreement with Kobe Steel, Ltd. Under this agreement, Kobe agreed to reimburse Harnischfeger up to $17. 0 million dollars of R;D expense over a period of three years. However, some students argue that Harnischfeger may be cutting its research budget since the actual reduction in Harnischfeger's    1984 R&D expense is more than one-third of this amount. (See Exhibit 4, Notes 6 and 9, in the case. ) 8 . Effective 1984, Harnischfeger began to include in its net sales products purchased from Kobe Steel, Ltd. , and sold to third parties by Harnischfeger.Previously only the gross margin on Kobe-originated equipment was included in Harnischfeger's financial statements. This increased Harnischfeger's sales in 1984 by $28. 0 million but had no impact on its profits. Some students would mistakenly argue that this had an impact on Harnischfeger's net income. (See Exhibit 4, Note 2, in the case. ) Although some of the above are pure accounting decisions with no direct cash-flow consequences, the other decisions affect the company's reported profits as well as its cash flow. The instructor should ask the class to identify the latter-type decisions among the above.Discussion of Question 2 The above analysis shows that most, if not all, of the reported profits of Harnischfeger in 1984 are produced by accounting changes. Therefore, the accounting changes helped the management report a signific ant profit rather than a modest loss. The instructor should point this out to the class and ask: Why do you think the management of Harnischfeger made these accounting changes? Students point out a number of possible motives for the accounting changes: 1. Boost the company's stock price so that the company could raise new capital, 2.Meet the earnings targets of the company's top management compensation plan, 3. Avoid the violation of debt covenant restrictions, and 4. Improve the company's image with the customers, dealers, and prospective employees. Some students argue that the analysis in Question (1) shows that it is too complicated for an average investor to â€Å"see through† the impact of all the accounting changes. They further point out that, even if many analysts recognize the effect of the company's accounting decisions on the 1984 profits, it is quite unlikely that the analysts would be able to assess the impact of these changes in future years.Other students are l ikely to argue that the market processes the reported profit numbers efficiently. They argue that there are some sophisticated analysts who could perform the analysis that was done in the class. The instructor should encourage this discussion. At some point in the discussion, the instructor should intervene and summarize the evidence from the research literature: 1. There is considerable evidence in finance and accounting literature that shows that the capital markets are generally efficient. 2.For stock prices to reflect reality in an unbiased manner, it is not necessary that everyone in the market has to process the information correctly. As long as there are some sophisticated investors who can â€Å"see through† the company's accounting changes, the stock price will reflect this due to the possibility of arbitrage by these investors. 3. The accounting studies that examine the stock market reaction to accounting changes conclude that the market is not fooled by the account ing decisions of firms. However, the evidence presented in these studies is not conclusive.Also, these studies do not examine whether the stock market recognizes the recurring effects of accounting changes. Without additional research, it is difficult to make conclusive statements on this issue. 4. Even if capital markets see through the effects of accounting changes, managers may believe otherwise in making accounting decisions. This is likely to happen if there are no significant penalties associated with such behavior. Even if investors fully recognize the impact of Harnischfeger's accounting decisions, there are other reasons for the company's managers to make these decisions.As Exhibit 2 in the case indicates, the top management of the company is awarded significant bonuses based on the company's reported profits. This provides an incentive for the managers to boost profits through accounting changes. However, if the compensation committee of the company's board of directors re cognizes this possibility, the committee could adjust the reported profits before awarding management bonuses. The instructor should challenge the students by asking: If investors can see through these changes from public information, why can't the board do it, especially when it has access to additional information in the firm?The third possible motive that is mentioned by the students is the desire of Harnischfeger's management to avoid the violation of debt covenant restrictions. Since the company recently experienced the painful consequences of violating these restrictions, it is plausible that the management changed the accounting policies to avoid future violations of the debt restrictions. If debt covenants are specified in terms of accounting numbers, managers have an incentive to choose accounting policies to minimize the violation of the covenants.However, if lenders recognize this possibility, lending agreements would be modified to avoid this possibility as long as the c ost of such a modification is not significant. The fourth possibility is that the accounting decisions are motivated by a desire to convince the company's customers, suppliers, dealers, and employees that Harnischfeger is again back on track and is viable. Given the nature of the company's products, a lack of confidence in the company's viability is likely to impair the company's ability to sell its products.In fact, the company was negotiating long-term contracts in 1984 with the governments of Turkey and China. It is quite possible that the company's return to profitability might have helped the management in this respect. Similarly, the company's ability to attract and retain talented employees might have been helped by the image that the company was back on track. During my visit to the company, Harnischfeger's management pointed out one additional factor in the company's accounting decisions: the role of internal management considerations.The company used the same set of accoun ting rules for external reporting and for internal management accounting. The company's product pricing was based on fully allocated product costs, and therefore its accelerated depreciation policies apparently caused its products to be overpriced relative to competition. In addition, the higher depreciation charges led to increased capital reinvestment demands from its divisions for maintaining and replacing the company's fixed assets.The company's management mentioned three principal reasons for its accounting decisions: (1) a belief that the external users of accounting data did not adjust for Harnischfeger's conservative financial reporting when comparing the company's performance with other companies in the industry, (2) the unpleasant experience with its debt covenant restrictions, and (3) the interaction between management accounting and external reporting. These reasons are discussed in greater detail in my paper, â€Å"The Anatomy of an Accounting Change. â€Å"Underlying all the accounting changes was a reporting philosophy outlined by the then chief financial officer and the current president of the company: In accounting there is no such thing as absolute truth. The same underlying reality can be accounted for using a range of assumptions. The earlier philosophy of this company was to choose the conservative alternative whenever there was a choice. Now we have decided to change this. We would like to tell the world that we are alive and well. We wish to tell the truth but do not want to be overly conservative in doing so.When the outside world compares our financial performance with that of other companies, they may or may not take the time and effort to untangle the effects of the differences in financial policies that various companies follow. My own belief is that people adjust for the obvious things like one-time gains and losses but have difficulty in adjusting for ongoing differences. In any case, these adjustments impose a cost on the user . If people adjust for the differences in accounting policies when they compare us with other companies, then it should not matter whether we follow conservative or liberal policies.But suppose they do not adjust. Then clearly we are better off following the more liberal policies than conservative policies. I am not sure whether people make the adjustments or not, but either way we wish to present an optimistic version of the picture and let people figure out what to do with the numbers. As a company you have to put the best foot forward if you want to raise capital, convince customers that you are a viable company, and attract talented people to work for the company. I feel that the financial reporting should help rather than hinder the implementation of our operating trategy. In my opinion, the changed accounting format highlights the effectiveness of our strategy better than the old policies do. The instructor can sum up the class discussion on question (2) by mentioning the view s of the management described above. Discussion of Question 3 After completing the analysis of Harnischfeger's accounting policy changes, the class should be asked to assess the company's future. At this point, I go back to my original question to the class, namely, â€Å"Is it worthwhile to invest in the company's stock in early 1985?    I call on a student who considers the company's stock a good investment and ask him or her to explain why. Harnischfeger's turnaround strategy consists of four elements: (1) changes in top management, (2) cost reductions to lower the company's break-even point, (3) reorientation of the company's business, and (4) restructuring the company's finances to facilitate the implementation of the reorientation strategy. The changes in the top management seem to be good. The new chief executive officer (CEO) has considerable experience in Harnischfeger's industry.The new CEO demonstrated his credibility with the financial community by successfully negoti ating with the company's lenders to restructure the company's debt. The new management has taken several steps in the right direction. The company's cost-reduction programs seem to be paying off. These programs were helpful in reducing the company's losses in 1984. The financial management of the company also seems to be sound. The cost-reduction programs and the pension restructuring have improved the company's cash flow.The total cash-flow analysis, shown in Exhibit 1, indicates that the company has been able to generate positive cash flow from its operations in 1984. The company raised substantial new capital through a public offering of debentures and common stock and used the proceeds to pay off all of the company's restructured debt. Finally, the company's business strategy seems to be sound. The management recognized the potential to exploit the company's strength in the material handling equipment business.Through its Harnischfeger Engineers subsidiary, the company planned t o expand in this area and concentrate on the high margin â€Å"systems† business. This strategy is likely to help the company to move away from the mining and construction equipment business, which is a low-growth and cyclical industry, to a higher-growth and more stable business. Students who are optimistic about the company's future cite the above factors as the reasons for their support for the company and its management.They argue that these factors indicate that the company's new management has the right ideas and knows how to turn the company around. These students suggest that the management's accounting decisions were part of its attempt to implement the company's strategy and are therefore constructive. The instructor should wrap up the case discussion by reviewing the company's motives for its accounting decisions. The instructor should point out that understanding these motives is essential for an analyst who is interested in assessing the company's current perform ance and its future potential.The instructor may end the class by taking a second vote on the investment potential of the company's stock and sharing with the class the subsequent events described below. SUBSEQUENT DEVELOPMENTS The following events describe the developments subsequent to the time of the case. As can be seen, Harnischfeger seems to have succeeded in implementing its strategy effectively. Also, the company continued to liberalize its financial reporting policies. 1985 1. The company changed its accounting for duration patterns and tooling. Previously, the cost of the patterns and tooling was expensed in the year of acquisition.Under the new method, these costs are capitalized and amortized over their estimated useful lives. 2. Harnischfeger reported a net profit of $0. 74 per share for fiscal 1985. The accounting change described above contributed $0. 24 per share to the reported profits. 3. The company raised $147 million by issuing preferred stock. 1986 1. Mr. Goess el was appointed as the chairman and CEO of the company, and Mr. Grade was appointed as the president and chief operating officer (COO). Previously, Mr. Goessel was the president and COO, and Mr. Grade was the CFO. 2.Harnischfeger acquired Beloit Corporation, a producer of papermaking machinery and systems, for $175 million in cash. Later in the year, stock equivalent to a 20% equity interest in Beloit was sold to Mitsubishi Heavy Industries, Ltd. , for $60 million in cash. 3. The company acquired Syscon Corporation, a firm based in Washington, DC for $92 million in cash. Syscon developed advanced computer systems for military markets. 4. Harnischfeger announced a plan to sell the company's Construction Equipment Division for approximately $17 million in cash and $55 million in debentures. . The company reported that Harnischfeger Engineers received a major order for the design of an automated car assembly plant. 6. Harnischfeger reported a net loss of $1. 14 per share for fiscal 19 86. This consisted of a profit of $2. 15 per share from continuing operations, a loss of $4. 45 per share from discontinued operations (Construction Equipment Division), and a gain of $1. 16 per share from the adoption of the new pension accounting rules. 1987 1. Harnischfeger received a takeover offer from Columbia Ventures, Inc. , for $19 per share in cash.The company considered the offer inadequate and rejected it. Exhibit 1 Total Cash-Flow Analysis ($ in thousands) |                                                                                                          |1984                         |1982                         |1981                         | |                                                                                                          |                               |                               |                               | |Working capital from operations                                                          | $ 2,961                   | $ 1,763                   | $ (55,902)             | |(Increase)/decrease n accounts receivable                                           |(23,908)                   |(5,327)                   |42,293                      | |(Increase)/decrease in inventories                                                       |9,282                      |56,904                      |26,124                      | |(Increase)/decrease in refundable income taxes and related interest    |                               |                               |                               | |                                                                                                          |11,289                      |(2,584)                   |(6,268)                   | |(Increase)/decrease in other current assets                                        |259                         |10,008                      |(439)                      | |Increase/(decrease) in accounts payable                                              |16,488                      |(1,757)                   |(3,302)                   | |Increase (decrease) in employee compensation and benefits payable       |                               |                               | |                                                                                                          |698                         |(15,564)                   |(3,702)                   | |Increase/(decrease) in accrued plant closing costs                               |(3,888)                   |(14,148)                   |20,496                      | |Increase (decrease) in other current liabilities                                  |    (3,181)                |    (15,927)                |    (3,030)                | |Cash from operating cycle                                                                   | $ 10,000                | $ 13,368                | $ 16,270                | |Minus plant and equipment additions                                                    |    (5,546)                |    (1,871)                |    (10,819)                | |Cash before dividends, investments, and    external financing                |                               |                               |                               | |                                                                                                          |$ 4,454                   |$ 11,497                   |$ 5,451                   | |Minus cash dividends                                                                   à ‚         |    0                         |    0                         |    (2,369)                | |Cash before investments and external financing                                     | $ 4,454                   | $ 11,497                | $ 3,082                   | |Minus advances to unconsolidated companies                                           |(2,882)                   |0                            |0                            | |Plus other                                                                                           |    269                      |    1,531                   |    848                      | |Cash before external financing                                                             | $ 1,841                   | $ 13,128                | $ 3,930                   | |                                                                                                          |                               |                               |                               | |External Financing:                                                                            |                               |                               |                               | |                                                                                                          |                               |                               |                               | |Proceeds from senior notes and subordinated                                        |                               |                               |                               | |Debentures                                                                                           |$ 120,530                |$ 0                         |$ 0                         | |Conversion of export and factored receivable sales to debt                   |                               |                               |                               | | 0                            |23,919                      |0                            | |Restructured debt                                                                               |0                            |158,058                   |0                            | |Debt replaced, including conversion of    receivable sales of 23,919       |                               |                               |                               | |                                                                                                          |0                            |(158,058)                |0                            | |Repayments of debt                                                                               |(161,500)                |(760)                      |(9,409)                   | |Increase (repayment) of short-term bank notes payable                         |2,107                      |(3,982)                   |(2,016)                   | |Other increases in debt                                                                      |1,474                      |0                            |25,698                      | |Issuance of common stock                                                                      |21,310                      |0                            |449                         | |Issua nce of common stock warrants                                                       |6,663                      |0                            |0                            | |Salaried pension assets reversion                                                       |    39,307                   |    0                         |    0                         | |Cash from external financing                                                                | $ 29,891                | $ 19,177                | $ 14,722                | |Net increase (decrease) in cash    and temporary investments                   |                               |                               |                               | |                                                                                                          |$ 31,732                   |$ 32,205                   |$ 18,652                   | 2. What is the effect of the depreciation accounting method change on the reported income in 1984? How will this change affect profits in future years? It increased the net income to $11 million for 1984 or $. 93 per common and common equivalent share. The straight-line method will allow the assets to continue to depreciate in the same amount for the life of the asset.This change will increase profit in future years even thought the depreciation expense in strait-line will be higher that would’ve been with accelerated method. 3. What is the effect of the depreciation lives change? How will this change affect future reported profits? As a result of going t o strait-line the company also has changed its estimated depreciation lives on certain U. S. plants, machinery and equipment and residual values on certain machinery and equipment, which increased net income for 1984 by $3. 2 million or $. 27 per share. No income tax effect was applied to this change. This change should report higher profits in the coming years. $3. 2 million or $. 27 per share. No income tax effect was applied to this change. This change should report higher profits in the coming years. 4.The depreciation accounting changes assume that Harnischfeger’s plant and machinery will last longer and will lose their value more slowly. Given the business conditions Harnischfeger was facing in its primary industries in 1984, are these economic assumptions justified? Not necessarily, they can not fully predict the outcome of these changes but history shows them that as long as their plant machinery are more up to date production will perform at a better rate which shoul d lead to valuable resources needed to conduct good business. 5. In Note 7, Harnischfeger describes the effect of LIFO inventory liquidation on its reported profits in 1984.Describe what is meant by LIFO liquidation and how liquidation affects a company’s income statement and balance sheet. By LIFO liquidation means when a company’s accounting sells its oldest inventory since the current sales are higher then current purchases then the liquidation will occur, meaning that older inventory will be sold. The effect of the LIFO liquidation on the company’s income statement is an increase in net income by $2. 4 million or $. 20 in fiscal year 1984. There is no income tax effect. On the balance sheet there is a decrease of inventory, due to liquidation. 4. The depreciation accounting changes assume that Harnischfeger’s plant and machinery will last longer and will lose their value more slowly.Given the business conditions Harnischfeger was facing in its primary industries in 1984, are these economic assumptions justified? They cannot fully predict the outcome of these changes but history shows; however, we know they were experiencing a drop in sales this would also mean that they were giving less use to their machinery, and that would cause less wear and tear to the machinery justifying and increase on the useful life of the asset. 5. In Note 7, Harnischfeger describes the effect of LIFO inventory liquidation on its reported profits in 1984. Describe what is meant by LIFO liquidation and how liquidation affects a company’s income statement and balance sheet.The liquidation means selling of older inventory since the current sales are higher then current purchases then the liquidation will occur and as result any inventory not sold in previous periods must be liquidated. The company will benefit by an increase in net income by $2. 4 million or $. 20 in fiscal year 1984. Meaning that the net loss of previous year 1983 was reduced by a pproximately 15. 6 million. The balance sheet would have decrease of inventory from 12. 6 mil in 1983 to 5. 5 mil in 1984. 6. Note 8, states Harnischfeger’s allowance for doubtful accounts. Compute the ratio of the allowance to gross receivables (receivables before the allowance) in 1983 and 1984.What would the allowance have been if the company maintained the ratio at the 1983 level? How much did the pre-tax income increase as a result of the changed ratio in 1984? The company's provision for doubtful accounts receivables as a percentage of total receivables was 8. 4% in 1984. The corresponding percentage in 1983 was 11. 3%. If the company maintained the same percentage provision in the two years, the bad debt expense in 1984 would have been $1. 5 million more than the reported expense. 7. Note 9, page 216, states that Harnischfeger decreased R&D expense in 1984 relative to the previous two years. Do you think this change was motivated by business considerations or accountin g considerations?How did this change affect the company’s reported profits in 1984? Also R&D expense in 1984 decreased by $7. 0 million over the previous year. Most of this reduction was a result of the company's agreement with Kobe Steel, Ltd. Under this agreement, Kobe agreed to reimburse Harnischfeger up to $17. 0 million dollars of R;D expense over a period of three years plus the company was reduced in its size so there was no need to that big expenditures on R;D. 8. Note 11, describes a number of changes in Harnischfeger’s pension plans in 1984. Describe these changes as clearly as you can. What are the economic consequences of these changes to Harnischfeger and its workers?The reduction in benefits and wedges were significant from 1982 to 1984. In 1984 the pension expenses accounted for 1. 9 million, 1983 for 6. 5 million and 1982 for 12. 2 million The change in the return on investment assumption is for all US plans. The economic consequence is that there will be less expenditure made by these pension owners during the lifetime of their pension. The company established a new plan, which goal was an improvement in the minimum pension benefit. This constituted in a restructure of the Salaried Employees’ Retirement Plan. From one side that decision could help the company to rebuild the trust of customers and suppliers for continuing in business.From the other side, the workers would suffer a significant economic lost and could lose the motivation to work for the company. But there is a possibility that a positive view could emerge because they could appreciate the company’s efforts to keep them working there, and then cooperate to take the company to the next level. 9. How did the pension plan changes affect Harnischfeger’s financial statements in 1984? Are these changes likely to affect future profits? The effect of the changes in the investment return assumption rates for all U. S. plans, together with the 1984 restruc turing of the U. S. Salaried Employees' Plan, was to reduce pension expense by approximately $4. 0 million in 1984 and $2. million in 1983, and the actuarial present value of accumulated plan benefits by approximately $60. 0 million in 1984. This may have an effect on future profits. The pension plan changes affected positively the statements in 1984. Less assets were available for benefits; therefore, more income was reflected in the financial statements, which contributed to the cash to pay debt obligations. Furthermore, if reducing the debt, company could recover the banks and shareholder’s trust. 10. Summarize all the accounting changes Harnischfeger made in 1984, and their effects on pre-tax profits and cash flows in 1984. 1. Change in the recognition of some types of sales. This resulted in a change in sales calculation.Harnischfeger incorporated products purchased from Kobe Steel, which were re-sold by the company, into its net sales. This increased aggregate sales and cost of sales by $28 million. The effect of the change in sales calculation was an increase in both aggregate sales and cost of sales by $28 million. Also, profit margin dropped from 1. 55% to 1. 44%, which represented a 7. 1% change in profit margin. 2. Change in the fiscal year for some foreign subsidiaries. By changing the fiscal year of foreign subsidiaries (ending period of September 30 instead of July 31), the effect was the lengthening of the 1984 reporting period for the subsidiaries from 12 months to 14 months.This increased sales by $5. 4 million. 3. Change in the depreciation methods on assets. The depreciation policy for financial reporting purposes was changed to a straight-line method from a principally accelerated method. The effect of the change in depreciation method (straight-line method) was a net income of $11 million realized in 1984. Overall, depreciation charges resulted in an increase of $3. 2 million in net income in 1984. 4. Change in the use LIFO liquidat ion in inventory valuation. The effect of LIFO inventory liquidation was an increase in 1984 net income by $2. 4 million, as gains. 5. Change in the allowance for doubtful accounts.The company adjusted its allowance for doubtful accounts to 6. 7% of sales for 1984 from 10% of sales in 1983. The effect of the change in the allowance for doubtful accounts was that it resulted in $2. 9 million in operating income for 1984. 6. Change in the R&D expenses. Harnischfeger significantly reduced its R&D expenses to $5. 1 million in 1984, from 412. 1 million in 1983. The effect of the change in R&D expenses was an increase in operating profit by $9. 1 million. 7. Change in employee pension plans. The effect of the change in pension plans was a reduction in pension expenses by $14 million and increase in net income by $3. 9 million, and a positive cash flow. 11.Accounting statements are used by investors, lenders, customers, employees, and governments in dealing with Harnischfeger. Among these groups, who is most likely to â€Å"see through† the above accounting changes, and who is least likely to do so? The least likely to â€Å"see through† the accounting changes are just normal people who don’t know accounting concepts because some methods of reporting can overstate or understate the numbers without a sustainable change so investors, lenders, and governments should be the ones to most likely â€Å"see through† the change and based on what they see they make a decisions. Employees in accounting, finance, and upper management should be able to â€Å"see through† the changes. 12.Are the accounting changes likely to help or to hinder Harnischfeger’s ability to implement its business plan? Be as specific as possible. Even thought the changes indicate an optimistic move, it does not guarantee that the company is going to be able to implement its business plan. The changes made strongly justify company’s boost in the periods an alyzed. From my point of view, company reflects a positive result on management through its financial reports. Basically the mission to satisfy shareholders and business related entities such as banks and suppliers was accomplished by showing the ability to overcome financial problems through management based on the financial statements.However, the accounting practice can be a matter of numbers’ convenience and it can be altered just to show easy actions. 13. Overall, what is your assessment of Harnischfeger’s future as of 1984? The company is taking a risk by expecting that the one-time boost in income and cash in 1984 will enable the company to successfully expand internationally and grow in new high tech areas and become profitable once again. They wanted to make their financial statements look pretty so that investors would buy their stocks and suppliers would continue giving credit for being able to produce product and sell. They need to stop playing with account ing methods and hiding the true story otherwise they will be in danger to not survive in a long run.