Licensed Practical Nurse Essay

License Practical Nurse (LPN), work under the directions of registered nurses and doctors. LPN are Certified healthcare professionals that are responsible for helping and providing basic care to patients. They work in a variety of different setting, hospital, care facilities, and nursing homes. To become a LPN you would need a High School Diploma, or a GED. You would have to take your Pre Entrance Examination that would cover your basic subject like your maths, and general skills. Before you start the LPN programs you also would need your Pre Requisite. You must complete a Practical Nurse Program and pass the National Council Licensure of State Board Nursing (NCLEX-PN) exam to be certified and receive your licensure. You must be patients at all times, have good communication skills and flexibility. To interact as a health-care professional, interface with registered nurses and doctors, to perform physical assessments and to work as a team. LPN work 40 plus hours a week, on different shifts, weekends, morning, or nights and Holidays. You have to be able to stand for a long period of time. The average salary for a LPN in New Orleans is$38,115 to $41,681 per years. I reason why i pick LPN to be my next career because i just thought it was the next stepping stone for me, i already have my Clinical Medical Assistant Certificate so i thought i just could work my way up, and to stay in the healthcare/medical field, i will always have something to fallback on just in case i wanted to go back to school for something else, so i can work and attend college. I also like helping people each any every way i can, I think its a good career for me because i have a few experiences and good people skills.

Internet activities 5.2 and 6.2 Essay

Exercise 5. 2 1: 1 Based on the website of Ford Motor Company the following is its SWOT analysis. Strengths: The company is a well-recognised name in the automobile business. Since it is a well-established company with premium priced products, the consumer don’t really have to go through its website to confirm of its high quality but to know more about its upgraded features. They know it is one of the best. Its brand name is very strong and that is why the website attracts immediate attention. Weakness: The price of the cars is its weakness, though people believe in its quality, they look out for other alternatives. Since this company spends a lot on manufacturing, distribution, advertising and sales, it has to price it high to make an acceptable profit. The consumers have lots of option today and they turn to products, which fulfil the same need in low price. Opportunities: The increase in purchasing power of the consumers and the growing international market. Threats: Since a lot of companies that promise same benefits and product features at lower prices, the competition has become tougher. So the company needs to pay attention on its opportunities and threats in order to excel in its future marketing strategies and combat its competitors. 2:2 In order to create competitive advantages it should do its positioning in the minds of the consumers in such a way that they start seeing it not as a luxury but a necessity. If a brand achieves the status of a necessity, the consumers might make some comprises in their budget, especially when their purchasing power has increased due to high paid jobs and double income families. Since Ford is recognised internationally, the international market should be explored more vigorously. Exercise 6. 2 1:1 It is evident from the websites of Amazon and Barnes and Noble that both have different target markets. Amazon caters to more young and techno savvy target audience who are in search of a variety of lifestyle products while Barnes and Noble caters to book lovers. But both cater to a target market that is willing to pay for a good product sitting at the comfort of their homes. The marketing mix of Amazon is a little more complex than that of Barnes and Noble. This can be attributed to different target audience that they cater to. Since Barnes and Noble sells books and related products the different P’s of the marketing mix are positioned accordingly. Whereas the P’s of the marketing mix of Amazon are positioned differently because it sells different kinds of products. There is always a feeling with Barnes and Noble that in case of any problem with the product, a nearby bookstore can be contacted for clarifications. Amazon lacks this touch of comfort. The price of the same product varies in both the websites. It takes more time to understand the marketing mix of Amazon when compared to Barnes and Noble. 2. 2 Both these companies have used their websites to do the positioning of their products in such a way that the product attributes, packaging, shipping information and the time required to get the purchased item is clearly engraved in the consumers minds. They have designed the websites well so that the consumers are able to easily access the product information. The bright colors appeal to the senses and make the search more interesting. Barnes and Noble has indulged in company and product differentiation by focussing on the time of delivery and the author profiles that promises best quality products in lesser time while Amazon has focussed on how fast the products are selling out and what are the hot choices of its consumers in order to influence the prospective buyers. References Arens, W. F. and Bovee, C. L. (5 Ed. ). (1994). Contemporary Advertising. USA: IRWIN.

Business Law-discussion Assignment Example | Topics and Well Written Essays - 250 words

Business Law-discussion - Assignment Example However, the current laws compel producers to take responsibility for effects of their goods. Arguably, the approach forces manufacturers to trade safe goods and services unlike in the past (Twomey, Jennings, and Fox 174). Besides, enforcement of polluter pay principles and eco-tax aid firms to participate in restoring damaged environs in order to promote sustainability. Unlike in the past, modern societies have adequate access to inclusive product information. Hence, buyers make informed decisions in the purchase of goods and services. The customer protection laws stamp the achievement through warrant of honest and fair dealings with consumers. Despite the highlighted advantages, enforcement of consumer protection laws detriments business, particularly small enterprises by increasing operational costs. Modern business entities spend more money to establish compliance mechanisms such as hiring specialists, retraining staffs, and re-designing labelling and packaging. Lately, producers spend profits to address customer grievances, especially in the courts. A hidden cost also exists on imposed fines, restoring damaged company reputation and strengthening customer loyalty. Therefore, the laws discourage potential entrepreneurs. Consumer protection laws specifically focus on the welfare of buyers. Thus, states should launch regulations and enforcement agencies with a market-wide protection role. Moreover, governments and business stakeholders should introduce comprehensive regulations to guide dispute resolution mechanisms and seller liability for oversight of third-party

Human Communication And Modern Technology Essay

Human Communication And Modern Technology - Essay Example Turkle says mobile phones, the Internet and the virtual world have caused people to live their lives in a paradox. I have to partially agree with the author’s position. First I will present a summary of her thesis and then evaluate her ideas. â€Å"Always On† of Sherry Turkle’s book Alone Together is presented in five different parts. In the opening paragraphs, the author likens MIT researchers she met in 1996 to cyborgs as they were constantly walking around with their electronic devices. She describes how these young people felt more comfortable around others thanks to the gadgets that were on them. Later in the section, Turkle explains how the generation of today has become ‘cyborg-like’ with their smartphones and technological devices, becoming what used to be considered alien in 1996. In â€Å"The New State of the Self: Tethered and Marked Absent†, Turkle (143) explains that people of today cannot be separated from their devices. Everyone is tethered or attached to their lives and activities even if far away from home. Thanks to connectivity through mobile phones and e-mails, people feel at a loss if they are not able to check the Internet or receive text messages. Another point Turkle presents in this section is that people who are busy on their devices are truly not in the space they are occupying because their minds are on the conversation on their mobile phone, the e-mails, their avatars, etc. The next section â€Å"The New State of the Self: From Life to The Life Mix† discusses how some people live their real life while simultaneously discovering and living another life on the Internet. Life mix, according to one of Turkle’s subjects, is the combined online and offline life of an individual. (Turkle, 148) The author shares how people who develop or create a virtual life do so to escape from the disappointments they have in their real-life.

Brand Storyteling Essay Example | Topics and Well Written Essays - 500 words

Brand Storyteling - Essay Example In addition, stories easily convey the message of the content by allowing customers to visualize the vision of the brand in an easy manner. On the contrary, messages based on facts do not create a long lasting impact on the customers as stories do. Effective stories have; entertaining value engages the audience and relates to the personal needs of customers. These features let the customer ‘live’ through the story of the brand. For instance, by posing a problem in the story with the brand as the solution makes the audience assume a true experience. Instead of the audience grasping the product pitches, the idea of the brand story is taken in (Barry 2014). Storytelling, no matter how many companies adopt it, it will always emerge as the sure way of excluding a company from its competitors by creating a more appealing and effective story than the other companies. Almost everybody enjoys the feeling of being in control of the environment, future and their lives, among other things. For that reason, companies should use storytelling to evoke emotions of the desire to control. The story makes it clear to the customer how the brand makes him or her in control, albeit in the subconscious mind only. By embracing family values to the brand story, the audience is emotionally influenced, especially married couples. For instance, Cerebos Pacific, a sauce additives company, uses Asian family values that relate to food to convince customers to buy their products (Temporal 2013). In Asia, food cooking is not just an act rather it is a way of emotional expression. A brand story that relates to the audience and through their ‘living’ through the story, their wishes are fulfilled and emotions are evoked. The brain encodes the value in things and remembers wishes that were vicariously fulfilled. A brand story that evokes emotions of love can convince the audience to purchase the product. Love emerges at the most fundamental emotion ever known to human beings.

Human Rights in Politics Essay Example | Topics and Well Written Essays - 500 words

Human Rights in Politics - Essay Example An obsessive fear for national security and fear about infiltration of the Government, lead to the intensified scrutiny of CPUSA and other radical political groups. In 1947 President, Harry Truman was instrumental in ushering in a law that permitted authorities to investigate and prosecute federal employees found to be disloyal to the Government. In 1949, 11 top leaders of the CPUSA were convicted under Alien Registration Act (South Act of 1940.), which made it illegal to advocate the violent overthrow of the American Government. In 1950 the Internal Security Act, was promulgated. This act required the registration of communist and communist front organizations. From 1950 to 1954 senator Joseph Mc McCarthy of Wisconsin used congressional investigations to persecute communists. This assumed the proportions of the Salem Witch Craft Trials and grave travesties of justice took place. Even Charlie Chaplin was not spared in this attack on those suspected to be either communists or communis t supporters. This had the effect of producing a drastic reduction in the number of members in the CPUSA. (Microsoft Corporation Encarta Encyclopaedia , Communism. Timothy. J Colton.). On the 11th of September 2001, a most dastardly attack was conducted on the innocent civilians of the USA by Al Qaeda terrorists under the demoniac guidance of their fiendish leader Osama Bin Laden.

Critically evaluate the concept of human security Essay

Critically evaluate the concept of human security - Essay Example The first one considers the protection of human rights and the second one focuses on the protection of human beings from economic, environmental, social and other forms of threats and aims at the well being of man’s overall livelihood; an element of social justice is visible in this conception (Williams 2008, p. 231). The third and most controversial conception considers human security in a much wider way ensuring the survival and health of individuals. It observes the concept in a global perspective and subjects such as global economic status, effects of globalization and health of the environment are considered as the essential elements of human security. This paper tries to make a critical evaluation of the concept of human security and in doing so the paper takes into account the various aspects of human security and related issues. The concept of Human Security: Debates and Definitions All the three conceptions of human security paved way for criticisms and most of the re cent debates are shaped by the wider conception of human security. ... concept of human security in a broad way and that is â€Å"the absence of threats to various core human values† whereas Alkire (2002) holds that â€Å"the objective of human security is to safeguard the vital core of all human lives from critical pervasive threats, and to do so without impending long term human flourishing† (Quoted in Williams 2008, p. 231). Alkire’s definition seems to be more positive in nature. However, a more comprehensive definition is offered by the Commission on Human Security and the report of the Commission views human security as ‘protecting fundamental freedoms’- â€Å"protecting people form critical (severe) and pervasive (widespread) threats and situations. It means using process that build on people’s strength and aspirations. It means creating political, social environmental, economic, military and cultural systems that together give people the building blocks of survival† (Williams 2008, p. 231). Even th ough there are various definitions and understandings of the concept of human security, there are many who hold that the state-centered approach to human security should give way for a more comprehensive people-centered approach to security. Tadjbakhsh, in this respect, observes that â€Å"there is consensus among its advocates that there should be a shift of attention from a state-centered to a people-centered approach to security, that concern with the security of state borders should give way to concern with the security of the people who live within those borders† (Tadjbakhsh 2006, p. 5). Therefore, it can be inferred that an individual centered human security model assumes the safety of the individual as the means to global security and any disturbances to the safety of the individual would therefore affect the international

Lamborghini Case Study Example | Topics and Well Written Essays - 2500 words

Lamborghini - Case Study Example Here the word finite list is emphasized because the job of the manager is not to make an exhaustive list of all the factors that may affect the organization. But focus should be on key environmental variables that could influence business"1. As mentioned above, understanding of the internal and external environment of the business is very crucial for the basic function of planning to take place in an organization. An awareness of one's self and the surrounding environment is the first step in the long journey of survival and success for an organization. After the analysis of the environment, both internal and external, planning is the next activity which involves the future of the entity. The analysis of the present and to be prepared for the future is the essence of planning. Hence, understanding the environment and the relevance on its competitive business strategy is vital for the organization to grow and to create value for the stakeholders. Next, to tackle all the challenges for a company, a good business strategy should be supported by the commitment for implementation and good control mechanism. In creating the strategy and the performance climate the business manager uses facts, reasonable premises it has to take advantage of the opportunities to steer ahead of the competition. ... The founder of the company Mr. Ferruccio Lamborghini first started with a tractor assembling unit after the World war II from the army vehicles left behind by the Allied Forces. The popular story tells that Lamborghini wanted to create a car that is in no way inferior to the Ferrari and much better than the Ferrari. But company sources say this story may not be the real reason but Mr. Lamborghini felt that there was a great opportunity in the market for well finished luxury cars. After the success of the tractor business, he wanted to enter into the luxury cars segment, because there was still gap in the market left by the Ferrari. Hence, he formed a team of engineers and developed his own V12 engines and developed his own brand. This again became very popular and profitable. But in the 1970s the company became bankrupt and the owner ship changed into than hands to Mimran brothers. After more than two decades of a series of changes in the ownership, the company now belongs to the Audi group which again is a subsidiary of the automobile giant Volkswagen group. The vast technical resources of the Audi group have been very beneficial to the Lamborghini group to develop successful models such as the modern Spyder. With the rich tradition and reputation for building high quality and sophisticated cars, the Automobili Lamborghini continues to be a huge hit in the market. In this backgorund, the following essay attempts to understand the relevance of the mission, vision and the corporate strategy of one of the world's renowned brand of cars the Lamborghini. By understanding the background materials for the preparation of this essay, it has become possible to understand the interdependency

From a social psychological perspective, what is stereotyping and how Essay

From a social psychological perspective, what is stereotyping and how does it operate - Essay Example According to the second premise of the continuum model proposed by the authors, â€Å"ease of information fit between category and attribute determines the processes people use,† i.e. categorization or individuation (p.237). Attribute-oriented process is launched in case the target does not fit into the perceiver’s category and confirmation categorization shows itself as unsuccessful. Further individuation is done through re-categorization of the target. Re-categorization occurs through subcategorizing, usage of exemplars or creation of new categories. If the target continues being incompatible with the perceiver’s categories, piecemeal, attribute-by-attribute analysis occurs. However, this is done only in case the perceiver has sufficient time, attentional resources and motivation. The initial categorization process is an automatic perceptual process, while the rest of processes – confirmation categorization, re-categorization and piecemeal integration â €“ are thoughtful, reflective ones. Our experience is coded in our nervous system. This makes us act and react automatically, repeating once learnt reactions again and again. The category filter of individual’s perceptions makes us perceive only selected information. We see what we are focused on, registering positive comments on those we like, negative comments on those we dislike and ignoring the rest. Further, we organize and interpret information following the usual scheme. This automatic perception leads to a number of perceptual errors. Self-fulfilling prophecy (â€Å"behaviour confirmation effect†) and halo-effect (â€Å"cognitive confirmation effect†) are the two widely spread perceptual errors. Self-fulfilling prophecy is about acting according to our beliefs as if they are true. The cognitive confirmation effect takes place when we interact with a person at a distance. Then our

William Shakespeare and his play Richard II Essay

William Shakespeare and his play Richard II - Essay Example Accordingly, principal excerpts from this historical play are: firstly, King Richard II's: 'Nay, if I turn mine eyes upon myself, I find myself a traitor with the rest; For I have given here my soul's consent To undeck the pompous body of a king; Made glory base and sovereignty a slave, Proud majesty a subject, state a peasant' (Bate, 2010); secondly, also Richard's: 'Exton, thy fierce hand Hath with the king's blood stain'd the king's own land' (Bate, 2010); thirdly, Exton's: 'As full of valour as of royal blood †¦ This dead king to the living king I'll bear Take hence the rest, and give them burial here' (Bate, 2010); then, Henry Bolingbroke's: 'Exton, I thank thee not; for thou hast wrought A deed of slander with thy fatal hand Upon my head and all this famous land' (Bate, 2010); finally, also Bolingbroke's: 'Though I did wish him dead, I hate the murderer, love him murdered. †¦ Lords, I protest, my soul is full off woe, That blood should sprinkle me to make me grow: Com e, mourn with me for that I do lament, And put on sullen black incontinent: I'll make a vayage to the Holy Land, To wish this blood off from my guilty hand' (Bate, 2010). Further on, all these excerpts' meaning will be revealed according to the question and the overall meaning of the play. To understand these excerpts properly, we need to pick up few relevant actions from the synopsis. Specifically, Henry Bolingbroke was a Richard's cousin, disputing with Thomas Mowbray in the beginning of the play. Afterwards, they both were banished by the king; when John de Gaunt, Boligbroke's father, died, Richard injustly seized de Gaunt's land. Nevertheless, Bolingbroke returned secretly, while king was administering the war with Ireland. In fact, he and his supporters won the civil war against Richard (scenes before Wales' coast and in the Flint castle), and deprived king from his land, throne of England, and even his own life (at Pomfret's scene). According to this dramaturgy, we would answe r given question from 'The King's Two Bodies' perspective, concerning not only his natural and politic / spiritual body, but also a rising of the Machivellian king, Henry Bolingbroke. Then, we will discuss two different blocks within given question: whether Bolingbroke and his supporters were justified in taking the throne from King Richard; what was lost and what was gained concerning Richard's actions as king and Boligbroke's actions once he seized power. Answering these blocks we will be pedominantly focused on excerpts stated above. Primarily, Henry Bolingbroke and his supporters, Northumberland and Percy, were not fully justified in taking the throne from Richard, because Richard remained as legal king even being impisoned after revolution. Bolingbroke was Richard's cousin, and very magnificent and successful leader of nobles' party, but still the previous king became an opportunity for the loyalists to restore their power. Moreover, in the medieval ages political situation wit h two kings --- old and new --- was often instable, due to a fact that if almighty God only himself ruled the universe, this meant that king by only himself must have been governed the English land (Richard's 'thy fierce hand Hath with the king's blood stain'd the king's own land' (Bate, 2010)), i.e. according to the medieval assumptions on the nature of royal power in the society, king had two bodies:

Film Production Descriptive Essay Example for Free

Film Production Descriptive Essay The development stage is one of the most crucial stages for a producer, it is where you get the chance to plan every aspect of your production before you begin pre-production and production. The chance to get the ball rolling right. During the discovery stage of the film it is the producers role to obtained rights or an option to a film that he thinks is promising, if the rights owner is worried that their novel might be tainted by a film maker the producer must come to a legal agreement to maintain a certain set of standards concerning film director, cast and art department. Pre-production Producers role is to meet with all other heads of department to discuss direction of film, intent, budget and other relevant items needed before any production is to start. Legal documentation, planning, hiring, actors, art department. It is the producers role to helm all the creative people involved in the production as well as give some creative input. Financially it is the producers role to organise financing for the film whether that be through loans, offsets, co production, investors. The producer must discuss with all heads of department information gathered during development phases. Production The producers role during production is to organise all departments into a functioning crew. The producer may often not be on set personally whilst much of the principal photography is going on, thus they will appoint executive producers, line producers and associate producers to oversee their interests during production. Post production The producer has final say in the edit and sound used for the film, what scenes are shown and ultimately whether or not more footage will need to be shot after principal photography. For example, they might want an alternate ending. Distribution Distribution is the second of the most important stages of the production process. Distribution is where you get to create an audience for your film! As a producer your goal is to obviously have people watch your production and the distribution phase is where the producer gets to plan marketing objectives and then distribution objectives. This is the most rewarding stage of the process but also the most difficult for many considering our media overloaded world. What is meant by Genre, Auteur and Mise-En-Scene. Give examples of three different feature film genres and the major elements that define each particular genre, as well as some specific examples of the genre. Also give an example of an auteur, including examples of his/her films. Give an example of two completely different mise-en-scenes for a simple dialogue scene between two people having an argument about their relationship. The basics for the genre is drama, or the type of it. In feature films there are many types of genre, for example action, horror, romance, sci-fi, comedy. Essentially drama is telling you what the film will be loosely based around. Action Action scenes where there is intense action!! Guns, Cars, Stunts, Explosions Romance Often a story about a romantic encounter, relationships, sex Comedy- Often a story with comedic elements intended for the audience to enjoy themselves and laugh An autuer is a filmmaker whos pieces of work are distinctive in terms of the cast, locale, theme and visual style and is therefore considered an author of their work. One of my favourite authors is Baz Lurhmann whos first three productions are said to be the red curtain trilogy in which each of the three films has similarities. Each film establishes their story through a established thematic device, Dancing from Strictly Ballroom, poetry from Romeo and Juliet and music in Moulin Rogue. Each film also has a plot which is based off a well known story or myth. And there is a theatre motif which appears throughout all the films. What are the various contracts and other documents a Producer is responsible for when producing a feature film? There is quite a lot of documentation and contracts that go along with a film production, all of which a producer is responsible for. Contracts and agreements range from; assignment of copyright, production and investment agreements, film producers indemnity, multi-risks insurance, safety reports, Production agreement, non-disclosure agreements, post production deals, facilities deals. Chain of Title Assignment of Copyright The assignments of rights from the original artist to the producer, therefore the producer is now able to reproduce the work. Chain of Title The chain of title in film is a set of documentation that establishes the producers right to create and market the film. Typically includes, scriptwriters agreements, development agreements option agreements and rights assignments. Buyout A re-assignment to the producer from a development investor acting on behalf of the copyright owner in a project on repayment of the development investment plus interest. Option A purchase of time for a film to develop the work. Producers typically take out options on a work for a specific time and fee. This gives them the exclusive right to develop and finance the film.m Producers indemnity Insurance which provides financial compensation for the films budget in case of the production going over budget because of death, injury or illness. Multi-risks insurance Insurance that provides compensation if any production equipment is damaged during principal photography What are the various financial sources for an Australian Film? Explain what each one is Screen Australia Screen Queensland Producer Offset This is a grant given by the government to the production after completion of the film some films use this money for the budget as they can rely on it after completion or it helps to achieve a film that will do better in distribution. Broadcasting Company grant/funding Co-Productions Grants Money that is donated to the production that does not need to be paid back

Great Expectations Essay Example for Free

Great Expectations Essay Describe the character of Magwitch. What do you think Dickens has to say about crime and punishment in the sections of the novel where he appears? The following essay and the content of it are about the story of Great Expectations, its plot and what Charles Dickens was really trying to say. Great Expectations is the tale about a young man, Phillip Pirrip nicknamed Pip for short, came to build up and have his great expectations dashed. The novel begins with Pip as a young boy out on the marshes and as the novel continues, it follows Pips journey to a gentleman and then later on into a businessman. Throughout the novel, Pip is involved in a few rather dramatic events and with some rather colourful characters alongside him. At the beginning of the story we see the young Pip, an orphan being brought up and looked after by his horrible, hard sister and her husband whose character is defined as being a gentle giant, Joe Gargery, the blacksmith. While upon on the marshes, Pip comes into contact with an escaped convict by the name of Abel Magwitch. As the novel reads on, it proves that Magwitch seems to have a profound effect on Pips life. Pip is influenced also by Miss Havisham, an eccentric and reclusive old woman. It turns out o be that there are two young women in Pips life: the very understanding and kind and gentle Biddy and the proud and perfectly beautiful Estella. It comes about one day that Pip has come into a generous fortune. A benefactor, who to Pip is unknown, wishes for Pip to travel to London to become and succeed as a high class gentleman. This is the answer to all of Pips dreams, its like his Christmases have all come at once but all doesnt go as well as Pip would have hoped and he becomes involved in quite a few adventures. Also, when he is handed his fortune, Pip becomes a snob and the money changes him totally and its all for the worse. At the beginning of Chapter 1, we meet Magwitch. While Pip is in the graveyard, where his mother is buried, he meets Magwitch. Magwitch puts a great fear into Pip demanding food, drink and a file as he still has chains around his ankles since he has escaped from prison-You bring me, to-morrow morning early, that file and them wittles, Magwitch, page 8. Before Magwitch demands these sources, he rummages through Pips pockets for food and takes him by his ankles and absurdly shakes Pip upside down. Pip is scared into such a fright by Magwitch firstly telling Pip whether he should live or not-The question being whether youre to be let to live-Magwitch, (page 7. ) Magwitch tells Pip that there is a man a lot worse than him-Theres a young man hid with me, in comparison with which young man I am a Angel, Magwitch, page 8. After this, Pip is determined to go home, gather the things Magwitch needs and return to meet him the next day. An immediate view of the relationship between Magwitch and Pip is one based completely on fear and power, to which Magwitch has the upper hand so Pip cannot compete with him. It seems though that Magwitch and Pip share an unlikely but yet common loneliness. This is such because Pip was alone in the churchyard with the tombstones of his parents, who had passed away many years before and Magwitch has never really had any family around and the very unfair and unjust way Magwitch has been treated and punished, it is like the crime and punishment system in the 1900s was too unjust and was almost like it turned men into beasts and are not treated in an orderly fashion. Magwitch returns in Chapter 39. It is Pips 23rd birthday and he seems to be doing extremely little with his life. He is still on good terms with Mr Pocket, even though Pip is no longer being tutored by him and even though he keeps trying occupations, he isnt sticking to them long enough to develop further in them but he is finding that he is reading a lot. On a stormy night in London, Magwitch comes to Pips home and Pip invites him in and treats him with courteous disdain-Do you wish to come in-Pip, page 289. Pip welcomed him in to talk about Magwitchs business and only then does Pip gradually begin to recognise this visitor as the convict that he had met and given him a file and some food up on the marshes when Pip was just a young boy. It is only then that Magwitch reveals himself as being Pips mysterious benefactor and that he had been living in Australia all these years previous, working as a sheep farmer and the money he was earning from that would go to Pip-I lived rough so you could live smooth, page 313, Magwitch said this to Pip to prove that everything he had done in Australia, was for Pip. As Pip thought Miss Havisham was his benefactor, he had hopes of marrying Estella and the two of them becoming a lady and gentleman couple but his dreams have been shattered-Miss Havishams intentions towards me, all a mere dream, Pip, page 317. Pip is repulsed by Magwitch. He is horrified and appalled but luckily Magwitch didnt notice it and is upset that he should owe so much to such a person. Furthermore, to Pips state of shock, it is only now that he realises it was not Miss Havisham who was his benefactor and that Estella, who Pip adores dearly, had not been intended for him at all. While Pip is in a state of turmoil, we learn of Magwitchs past. The reader learns that because Magwitch didnt dress like a gentleman, his punishment was a lot harsher rather than if you look like a gentleman, the justice system would be a lot more lenient on the more vicious criminal. Even though Magwitch had a minimal choice about whether he could afford to turn to crime or not, he had little choice and could see himself not getting anywhere. Magwitch tells Pip that due to the fact that he committed a crime to save himself and he had no choice, it was because he didnt look or dress like a gentleman that he was given a heavy sentence and shipped to Australia where, only then, he was rehabilitated because he was supposedly no longer a danger to society or anyone around him. As Magwitch has come back and risked his life to see him, as much as he feels ashamed and feels as though all his dreams were just that, Pip feels as though in one sense he should still protect him. Pip does have a sense that he doesnt want Magwitch to risk his life and this shows Pip to still be human by having little conscience by not wanting Magwitch to get caught and hung or taken away, even though Pip is thinking he is the lowest of the low because he is associated with a convict and he feels as though he cant touch Magwitchs money anymore.

Role Play In English Language Teaching

Role Play In English Language Teaching The ultimate goal of foreign language teaching is to enable the students to use the foreign language in work or life when necessary. Thus we should teach that part of the language that will be used in the real world. However, this is not always the case in the present day foreign language teaching practice. The primary goal of most foreign language learning is to develop the ability to use real and appropriate language to communicate and interact with others and the goal of foreign language teaching is to extend the range of communicative situation in which the learners can perform with focus on meaning without being hindered by the attention he must pay to linguistic form[1]. But the present practice in the ELT classroom in China could not provide satisfactory conditions for both teachers and students to achieve the goals. How to let English learners feel the real language situation and context when learning English? Role-play is an effective way. 2. Functions Role-play models human interactions to provide a chance for students to exercise, creating effective and memorable experiences for learners. It places learners in a situation where they are asked to take on different roles and to accomplish their specific tasks, including problem solving. They offer an opportunity for learners to practice using the language in the right place, at the right time. The strength of role-play is that it presents an opportunity for authentic and spontaneous communication because learners are placed in realistic situations and they can have the opportunity to use and practice the sort of language, particularly the vocabulary related to that situation, so that learners are rehearsed for real life[9]. In addition, they can express what they want to say whenever the situation calls for it. In addition, role-playing is of great significance as it develops students both receptive and productive skills: 2.1 It develops students listening: while role-playing, students practice listening when trying to get information from their partners. 2.2 It develops students speaking: answering the questions according to what is heard, producing responses based on given cues, it is clear that this activity can practise speaking skills. 2.3 Promoting knowledge acquisition: Students in role-playing were found to use search and retrieval strategies more frequently than students in traditional learning situations. During the process of exchanging, there will be the information transferring from one peer to the other[2]. Individual students are able to increase their mastery during this process: During the entire process, students are motivated to search language in their vocabulary storage and select the proper language to use. For example, teaching a reading about a writers biography is usually bored and the events that the writer experienced are uneasy for students to master. In this case, after the students read and understand the article, the teacher can let a student pretend the writer and stand in front of the class to relate his or her whole life. Thus promote the students to acquire the knowledge of the writer with strong motivation. 2.4 Enhancing language proficiency: There is another significant benefit of doing role-playing. Language is the main tool for human communication. Role-play largely provides more opportunities for the students to practice their oral English. It is an ideal method of reviewing what we have learned by using it in real situation. It stimulates all the students integrated skills and thus consolidates all the language knowledge in their mind while trying to express themselves out. While others who do not involved in that activity can be easy to grasp more content knowledge even just sitting silently and listening to the performance in the classroom. 2.5 Stimulate students interests and activate classroom climate to keep students engaged in class: With role play, students act out certain situations. Teachers generally try to make these situations fun and interesting. Asking your boss for a day off, or Meeting people at a party, etc. The teacher prepares the roles so that learners always have a lot to talk about. This motivates students in learning and creates a real communication situation and offers learners plenty of opportunities to practice. 2.6 Improving social competence: the true mastery of a language involves communicative competence. While role-playing, individuals work together, they must interact with each other to promote each others success, thus increase students social skills, conflict-management and compromise. It also develops students communicative skills: while act out the dialogue, students get the chance to learn to get information from partners facial expressions, gestures and other body language thus develop students communicative skills. 2.7 Promoting interpersonal relationships: Role-play has also keen accepted to improve interpersonal relationship among students. Role-play pairs or groups help students establish and maintain friendships with peers. Students who are isolated or alienated from their peers and who do not have friends are more likely to be at risk for violent or destructive behavior in society than those who experience social support and a sense of belonging. To some extent, this interpersonal relationship also promote their academic achievements. In addition, skills of improving interpersonal relationship with other peers are the foundation for the success in their social career in future. Role-playing also has been linked to increases in self-esteem, attendance, time on task, enjoyment of school and classes, as well as a decrease in dependence on the teacher. 3.Potential problems Role-play is virtually the way we can give students chances to practice improvising a range of real-life spoken language in the classroom, and it is extremely effective if the students are confident and cooperative, but it still exists some problems when processing it specifically. l The uneasiness caused by talking in front of the class would inhibit the students to some degree. Instructors must do something to lower the inhibition first, for example, a preliminary demonstration or rehearsal before the class. Practice time can be prolonged. l From students perspective, because students are used to sitting in lecture where they are not required to talk, students may resist an activity that appears challenging and difficult and that forces them to use integrated skills, rather than being a passive learners. So teachers should stimulate their students enthusiasm by keeping encouragement, coaxing them to think and open their mouth. l It will be uncontrolled and time-consuming if students fail to prepare enough. In preparation, if certain roles did not allotted, too diffuse in responsibility will also spoil the performance. l In China, time is limited in every period class and all the classes are large sized. So it is impossible to provide a chance for all students to perform. Only a couple of students could display their performance. Others just sit in a classroom to hear and with no pressure, so they may mot pay attention to learning. l Because of the characteristics, some introvert students may feel hard to perform in front of the whole class thus influence the simulated communication. But teachers could help them to overcome step by step. Ur points out that the factors that affect the success of role-play are: the teachers enthusiasm; careful instructions; clear situations and roles; and making sure that the language they will need to carry out the role-play. 4.Guiding principles for role-playing 4.1Communication purpose[: The activity must involve the students in performing a real communicative purpose rather than just practicing language for its own sake. In order for this to occur there must be some kinds of information gap that students seek to bridge when they are role-playing. 4.2 Communicative desire: The activity must create a desire to communicate in the students .That is even if communication is forced on the students, they must feel a real need to communicate. 4.3 Prepare before performing: Rushing into a role play-activity often leads to confusion and dissatisfaction. Have students practice the task in pairs before selecting a couple of pairs to perform in front of the whole class. If acting out a short play, before students display their performance, they should be given the script or the story they are going to work on. They can choose their favorite roles or they will be allotted certain roles. 4.4 Acceptable level language requirement: The language required in performance should be lower than that used in intensive language learning activity in the same class. It should be easily recalled and produced by the participants, so that they can speak fluently. It is a good idea to teach or review essential vocabulary before the activities start. If the task is too frustrating, the students are likely to give up or revert back to the native language. 4.5 Be sensitive when correcting the students: The basic principles of error correction is to remind students of their big errors that prevent from communicating and ignore the trivial one. As to when and how to give feedback, there is no definite answer, it largely depends on the teachers long time spent in teaching and a consideration in affective and cognitive factors. Nevertheless, the instructors should put it in mind that they should do their best to avoid stifling students attempt at speaking in the target language by providing correct feedback.[3] 4.6 Clear in responsibility: Allot the roles and set up goals so as to make students clear in responsibility. Students interact in small groups, and they have less pressure but they should have clear responsibility. 4.7 Praise the actors: The students need lots of support assistance to practice English. Praise them frequently and they will be competitive and active. 4.8 Choose some proper texts: not all texts to involve role-play activity while teaching. Not all texts suit for role-play activity 4.9 Choose proper students: The first few times when the teacher organizes role-play, it is a good idea to choose some more outgoing students who will not feel inhibited while performing in public, which is also setting up demonstrations at the same time. 5.à £Ã¢â€š ¬Ã¢â€š ¬Conclusion In the student-centered learning process , students are given more opportunities to practice the target language and develop their communicative ability. Role-play is one of the most effective forms of English training because it puts people into the situation where they have to rely entirely on English to do their task/reach the goal that the teacher sets for them. Its also a chance to be really creative and develop interesting conversations. In general, role-play is an effective tool for students, especially in teaching some introvert students. It enables students to learn by using the target language in meaningful interactive situations. Role-play is not easy to manoeuvre, but it helps to lead to social and academic success for all students.

Magical Realism in House of the Spirits vs. Realism in Madame Bovary Es

Through the application of Realism, Gustave Flaubert demonstrates Emma’s detachment of the death of the characters in Madame Bovary, which contrasts to Isabel Allende’s demonstration of Clara’s attachment to the death of the characters in The House of the Spirits by utilizing Magical Realism. In The House of the Spirits, the characters all share a spiritual bond, which leads to emotional and spiritual connections for Clara during the death of the characters. On the contrary, in Madame Bovary, Emma Bovary depicts a realistic and natural character in society which portrays her selfishness, lack of emotions, and overall detachment towards the death of the others. Both of these connections are demonstrated through Realism and Magical Realism. The author stylistically ascribes negative personality traits prior to the death of a character. These negative characteristics portray the character as corrupt. In the text, Homais furiously mentions, â€Å"You[Justin] are on a downward path†(Flaubert 231). The textual evidence indirectly describes the flaws of Emma. The excuse of Justin committing a crime and Emma’s presence â€Å"coincidentally† in the text or purposely by Flaubert exemplifies reality. Furthermore, the blind beggar mentions, â€Å"Dream of love and of love always,† before the death of Emma (Flaubert 300). In the text, the blind beggar is singing a song, although the song implies traits of Emma. Emma always desires and dreams of love which provides the purpose for the song and demonstrates her not being satisfied with the love Charles provides for her. Additionally, Flaubert mentions, â€Å"Charles was suffocating like a youth beneath the vague love influences that filled his aching he art,† (321) which implies that he still loves Emma dearly. Th... ...onnected due to the fact that ‘I slept badly and dreamt again of Rosa† (Allende 203). The diction of â€Å"again† in the text proves that thinking of Rosa occurs multiple times and that her spirit is connected with him. Additionally, Barrabas reappears multiple times, for example: â€Å"It was the last, ignominious vestige of faithful Barrabas† (Allende 269). Although Barrabas died many centuries ago, he is encountered with Blanca and Alba. He displays the most spiritual reconnection with the characters through detail more than any of the other characters throughout the novel. Allende’s House of the Spirits demonstrate emotional connections and remembrances amongst Clara and the characters through the application of Magical Realism which contrasts to Flaubert’s Madame Bovary which demonstrates Emma’s characterization and lack of emotion towards the death of the characters.

Volunteerism and Community Service in America Today Essay -- Contributi

â€Å"Volunteers are not paid; not because they are worthless, but because they are priceless.† - Sherry Anderson (Volunteering Quotes: Finest Quotes). Part I: Volunteerism and Community Service in the United States Research shows that when Americans are "properly asked to serve", they serve, says the Corporation for National and Community Service, on their website dedicated to U.S. volunteerism(Volunteering and Civic Life in America 2014). The question, then, is what does "properly asked to serve" consist of. If the government issues a call to all able United States citizens to donate a mere three to five hours a week to a teen-mentoring, child-tutoring, or other volunteer program for the benefit of the country and the good of society, will it happen? Will people, hearing this summons, eagerly and/or obediently sign up at their favorite charity organization for a shift? Will they, with no monetary compensations, social benefits, or employment benefits give of their valuable and potentially dollar-earning time out of the goodness of their hearts and concern for the future well-being of society? Perhaps this isn't what "properly asked to serve" consists of for North Americans. When people do respond to their summons, researchers say, things happen. The mentoring system is supposedly one of the most beneficial of volunteer activities, in terms of reaching "at risk" kids. The Philadelphia Summit on volunteerism that took place in April of 1997 targeted five basic needs of at-risk kids: a relationship with a caring adult, supervised and safe sites for play, marketable skills, a healthy start, and a sense of service. These five criteria, if met, are expected to lower teen pregnancy rates, high school drop-out rates, and the ... ...more fortunate situations share, contribute, and cooperate in the change and development process. Works Cited: Aaker, Jerry. Partners With the Poor. New York: Friendship Press, 1993. "Volunteering and Civic Life in America 2014" Corporation for National and Community Service. Web. 05 May 2015. http://www.volunteeringinamerica.gov/ Chambers, Robert. Rural Development: Putting the Last First. New York: John Wiley & Sons, Inc., 1993. Clasen, Susan. Vultures & Butterflies: Living the Contradictions. Scottdale: Herald Press, 1992. Coles, Robert. Call of Service: A Witness to Idealism. Boston: Houghton Mifflin Co., 1993. "Volunteering Quotes :: Finest Quotes." Source for Famous Quotes, Inspirational Quotes & Sayings :: Finest Quotes. Web. 05 May 2015. "What Is Volunteering." Web. 05 May 2015. http://www.volunteerbristol.org.uk/volunteers

Wilhelm Conrad Rontgen Essay -- biographies bio

Wilhelm Conrad RÃâ€"ntgen 1845 - 1923 Wilhelm Conrad RÃ… ¡ntgen is a German physicist who was born on March 27, 1845 at Lennep in Germany. When he was three years old, his family moved to Apeldoorn in The Netherlands, where he attended a boarding school, the Institute of Martinus Herman van Doorn. While he was attending this school, he was very interested in making mechanical devices. This interest of his followed him through the rest of his life. RÃ… ¡ntgen later entered a technical school at Utrecht. In 1872 in Apeldorn, RÃ… ¡ntgen married Anna Bertha Ludwig of ZÃ… ¸rich. They had no children, but in 1887 they adopted a daughter, Josephine Bertha Ludwig, who was the daughter of AnnaÕs only brother. RÃ… ¡ntgen spent most of his years researching physics, thermology, mechanics, and electricity. Although he made some great discoveries in all these fields, his greatest invention was the discovery of a short-wave ray in 1895, which we know now as X-rays. Some other things he studied were the heats of gasses and fluids, the characteristics of quartz, the modification of the planes of polarized light by electromagnetic influences, the variations in the functions of temperature, the compressibility of water and other fluids, and the event of the spreading of oil drops on water. Throughout his life, RÃ… ¡ntgen received many honors. Even though he was well known for his skills, he remained a modest man who never sought honors or money for his research and projects. For instance, he declined various titles and jobs, and donated money to his university that he received from the Nobel Prize. He also refused to take patents on his work, so that the whole world could benefit from his work. Aside from his modesty and generosity, he did accept honors and... ...ays. After RÃ… ¡ntgen discovered X-rays, all fields of medicine were enhanced. Bones and other organs can be seen without surgery, jobs were enhanced, and germs and some types of cancers could be killed. This discovery has great importance to our lives, and has created amazing advances in a variety of fields. An example case that proves the new viewpoint and usage of these X-rays on the human body and medical sciences, was when a few days after Roentgen's initial public announcement of his discoveries, a doctor in America took X-ray photographs of a person with gunshot wounds in his hands. Before RÃ… ¡ntgenÕs discovery, a surgeon would have to locate the shotgun pellets though exploratory surgery, to find and remove them. Now, with the technology of X-rays, an X-ray can be taken and the shotgun pellets would be found without the process of exploratory surgery.

Glaxo Pakistan

Table of Contents INTRODUCTION As per Jim Collins, *â€Å"V*ery few have a capability of going from Good to Great†. Many companies strive to be the best in the market. Most never succeed. Many do so only temporarily and subsequently lose their position through misunderstanding how they got there and what is needed to stay there. http://www. roi-ally. com/BPE_vol1. htm Therefore in order to maintain the business position and to identify its future needs, one requires an accurate analysis of the reality of the business situation and determine its financial health. This is rather complicated yet necessary for keeping one’s financial affairs clean and sustains the organization’s growth. Recognizing the importance of the above subject matter, I choose topic 8 for my research report i. e. â€Å"An analysis of the financial situation of your choice of organization. † The company selected for this purpose is *â€Å"*GlaxoSmithKline Pakistan Limited*†*, also referred to as â€Å"GSK† or â€Å"The Company†. REASON FOR CHOOSING THE TOPIC Topic selection is based on a number of factors which derived me towards selecting this topic for my thesis in comparison to other topics specified in research and analysis project guidelines. Following are the few reasons for choosing the said topic: Relevance to the Current profession: While working in the Financial Advisory Services Department of Deloitte Pakistan, I got various opportunities to explore different sectors and industries. This has equipped me with strong interpretational and analytical skills which helped me to work effectively on the said topic. Future Assistance: The pharmaceutical industry provides a lot of financial analysis opportunities because of the complexity of its operation. This complicated structure enabled me to better understand and practically apply theoretical knowledge and be better equipped to undertake financial analysis in my future career. Importance in ACCA: Financial analysis is one of the most important topics tested in ACCA examinations. I personally feel that it is an interesting topic which has a practical application. Moreover, it enabled me to utilize my IT skills and the knowledge that I gained from my studies. COMPANY AND SECTOR Industry: Pakistan has a very vibrant and forward looking Pharma Industry. It has about 500 pharmaceutical manufacturing units including those operated by 25 multinationals present in the country. It has shown progressive growth over the last one decade and now meets around 70% of the country's demand of Finished Medicine. The industry has invested substantially to upgrade itself in the last few years and today majority of the industry is following Good Manufacturing Practices (GMP), in accordance with the domestic as well as international Guidance. The industry has the capacity to manufacture a variety of product ranging from simple pills to sophisticated Biotech, Oncology and Value Added Generic compounds. http://www. ppma. org. pk/ The Company: History: There are four major companies in the history of GSK: Burroughs Wellcome & Company, Glaxo Laboratories, Beecham and SmithKline and French. GlaxoSmithKline Pakistan Limited was created on January 1st 2002 through the merger of the aforementioned companies operating separately in Pakistan. Today GSK is standing as one of the largest pharmaceutical company of the world. Business: As a leading international pharmaceutical company, GSK is dedicated towards global healthcare and believes it to be ethically important and a key to its business success. GSK Pakistan’s primary activities are manufacturing, import, export and marketing of research-based pharmaceutical and consumer healthcare products. It operates mainly in two industry segments: Pharmaceuticals (prescription drugs and vaccines) and consumer healthcare (over-the-counter- medicines, oral care and nutritional care). Market Share: GSK Pakistan limited holds a major market share in terms of products, asset base, revenue and innovation. It produces 5 brands among the 10 top brands of the pharmaceutical products in the market. It is the 1st company in Pakistan’s pharmaceutical industry which reached the revenue of Rs 10 Billion and currently holds 18. 33% of the total volume of the pharmaceutical product traded in Pakistan. Products: GSK has a large products portfolio ranging from tablets, toothpaste, inhalers to complex capsules, in over 28,000 different pack sizes and presentations. Principally GSK produces antibiotics, respiratory, dermatological, gastro-intestinal, metabolic, analgesics, central nervous system (CNS) products and vaccines. AIMS AND OBJECTIVES Objectives and milestones are of crucial importance for any activity and are the core of its success, or failure. Setting an objective before initiating the project provides the required directions and assists in anticipating its result. This report aims to evaluate and assess the financial & business position of GlaxoSmithKline Pakistan Limited for financial year ended December 30, 2008. This will be achieved by the following three key tools: Vertical Analysis It deals with the most sophisticated technique for analyzing the financial statements which is ratio analysis, also known as trend analysis. This analysis will be conducted to compare GSK's current year performance with its previous periods under four broad categories i. e. Profitability, Short Term Solvency, Liquidity and Efficiency, Long Term Solvency and stability & Market ratios. Within each category different ratios would be calculated depending upon their significance and appropriateness. Horizontal Analysis For a more meaningful and judicious picture of the entity’s position it is compared with its competitor within the industry. Through this horizontal or competitor analysis, GSK’s current year performance is judge against its major competitor Sanofi Aventis. This analysis is conducted by the use of financial ratios in the same four broad categories. Business Analysis Business analysis is a well-established means of thinking critically about an entity, its resources and its environment. This analysis aims to evaluate GSK’s performance not only from the financial perspective but its business as a whole. This will be achieved by the use of technique namely â€Å"SWOT (Strength, Weaknesses, and Opportunities & Threat) analysis† and by conducting a general analysis of business highlighting its major performance area. Future Prospects: This report will also highlight the company’s future objective and strategies and assess its alignment with GSK’s vision and purpose of existence. INFORMATION GATHERING ‘Information is a source of learning. But unless it is organized, processed, and available to the right people in a format for decision making, it is a burden, not a benefit’. William Pollard Any course of action that generates a successive message can be considered as a source of information. Information can be gathered from virtually anywhere but ideal information is that, which when used, adds value. Keeping this in mind, I exploited the most appropriate and authentic information sources. The major sources used to gather the information are: Annual Reports The most reliable source of information is the company’s annual report. These not only contain financial statements of an entity but also other information of current and future scenarios which helps in evaluating its performance. Annual Reports of GSK for December 2008 and 2007 and its competitor Sanofi Aventis for the December 2008 were obtained from their websites. Meetings Several informal meetings were conducted with the management of GSK regarding its business and financial stance. I also managed to have meeting with senior associates at Deloitte who had an experience of conducting audit of Abbott Laboratories (Pakistan) Limited. They provided me guidance to conduct the business analysis and industry knowledge, to facilitate me in achieving my goals effectively. Internet Internet proved to be one of the strongest sources which enhanced the frequency and quality of information gathered during the project. The official website of GlaxoSmithKline Pakistan Limited (http//:www. gsk. com. pk) assisted to assemble constructive information for its better understanding which helped in scrutinizing the company’s financial performance. Additionally, different quotes and definitions were gathered from Google Search Engine. Articles The Article published in Student Accountant by ACCA, â€Å"How to Approach Performance Appraisal Questions? by Steve Scott from May 2006 issue, helped in the interpretation of the financial position of GlaxoSmithKline Pakistan Limited. ACCA Study Texts The study texts of ACCA Paper F7 and P2, P3, CAT Paper T6 published by BPP and FTC, were the helpful resources in gathering definitions and interpretations of ratios and conducting business analysis. Financial Analysis Financial analysis is an aspect of the overall business fina ncial position that involves examining historical and competitor data to gain information about the current and future financial health of a company. ttp://www. enotes. com/small-business-encyclopedia/financial-analysis Comparison with the prior periods (Vertical analysis) and with the competitor (horizontal analysis) in the form of ratios assists an organization in taking appropriate measures for improving its financial credibility. Vertical Analysis: Trend or vertical analysis is an aspect of technical analysis that evaluates the current performance of the company using the past data. It is based on the idea that what has happened in the past gives traders an idea of what will happen in the future. ttp://www. investopedia. com/. This analysis is done under four broad ratio categories discussed below: Profitability Ratios: RETURN ON CAPITAL EMPLOYED (ROCE): The primary measure of profitability is normally considered to be ROCE. It is the ratio which measures the relationship betwee n the sizes of the profit figure relevant to size of the business. (Student Accountant – May 2006) ROCE of the company has reached at a level of 36. 84% in 2008, which is a growth of 4% from 2007 32. 89% that had reduced by 2. 29% compare to 2006 (35. 18%). This increase in 2008 was mainly due to the rise in net profit of 17% in comparison to FY 2007. Whereas, in the year 2007, the increase in noncurrent liabilities by 40. 65% (in comparison to 2006) caused a decline in its ROCE. {draw:frame} GROSS PROFIT MARGIN (GP %): The gross profit margin ratio tells us the profit a business makes on its cost of sales. GP% of GSK was 28. 77% in the year 2008 which demonstrated a downward trend, since the recorded margin in the year 2007 was 37. 25% and 38. 33% in 2006 respectively. Despite of the rise in the sales revenue by 26% in 2008, GSK’s GP% has decreased. This was due to the drastic increase in its cost of sales by 43. 38% over 2007 (which was particularly due to the rise in raw material & commodities prices), whereas there was no consequent increase in its sales prices (because of no increase in drug prices sanctioned by the government since 2001). The same reason was observed in the year 2007 which squeezed its GP% by 1. 08% over 2006, regardless of the increase in its net sales by 5. 6%. {draw:frame} NET POFIT MARGIN (NP %): â€Å"A change in the net profit margin is a measure of how well a company has controlled its overheads†. Student Accountant- May 2006) NP% of GSK has shown a declining trend by an average of approximately 1% per year during the three years periods. It was 15. 74% in 2007 but decreased to 14. 59% in the year 2008. However, this reduction was not in the same proportion as of gross profit, due to the increase in other operating income by 100. 15% (which is 65. 46% of the net profit) and tighter control of company on its expenses during the year. In the year 2007 the NP% decreased by 0. 76% from 16. 50 in 2006, nonetheless indicating no major variation. {draw:frame} ASSET TURNOVER: The asset utilization ratio (sales/net assets) shows how efficiently the assets are being used to generate sales. (ACCA P3 BPP Study Text) Asset turnover of GSK was 1. 26 times in 2008, which was an increase of 22% from 2007. This was due to an increase in sales by 26% from 2007 and the raise in fixed assets by 4. 54% (which was because of the capital investment of 646 million made by the company, the major portion of which was spend on facility improvement, rationalization and upgrading its plant) that resulted in the improvement of its assets turnover. However, in the year 2007 it declined by 3% from 1. 7 times in 2006 to 1. 04 times, which was due to the increase in total assets by 7. 63%. {draw:frame} RETURN ON EQUITY (ROE): ROE is the amount of net income returned as a percentage of shareholders equity. It measures an entity’s profitability by revealing how much profit a company generates with the money shareholders have invested. http://www. investopedia. com/ ROE of GSK was 23. 4% in the year 2008 that was 2. 82% higher than 2007, which was because of the boost of 17. 04% in its net profits figure. In the financial year 2007, it slightly dropped by 1. 32% from 22. 9% in 2006 to 20. 58%. The issued common stock (Bonus Shares) in FY 2007 resulted in its equity enlargement by 7. 7% over 2006, consequently decelerating its ROE. {draw:frame} Short Term Solvency, Liquidity and Efficiency: CURRENT RATIO: Current ratio measures a company's ability to pay its short-term obligations. www. investopedia. com The current ratio of GSK was 4. 22:1 in 2006 further declining to 4. 27:1 and 4. 11:1 in 2007 and 2008 respectively. Although there have been a raise in current assets by 5. 98% but current liabilities are increased in a greater proportion i. e. y 10% during 2008, thus decelerating GSK’s current ratio by 4% from 2007. Whereas, the decrease of 15% from 2006 to 2007 in current ratio was due to 3. 3% rise in the company’s current liabilities. A lthough there have been no drastic changes in current assets figure over the three year period, however, it comprises almost 34% of cash and bank balance, signaling towards ineffective cash management. {draw:frame} QUICK RATIO: The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. It shows better liquidity position than current ratio. ww. investopedia. com The quick ratio of GSK has decreased from 3. 13 in FY 2006 to 2. 98 in FY 2007 to 2. 31 in FY 2008. In the year 2008 GSK’s quick ratio has declined in a greater proportion than its current ratio, indicating cash being stuck in stock in trade which can be seen by an increase of 53% in stock in trade figure over 2007. This implies the company has made high investment in less liquid assets which resulted in the increase of its cash operating cycle. Therefore there is a need to restrain any further increase in its inventory level. In the year 2007, inventory only increased by 7%, indicating no substantial change. {draw:frame} ACCOUNTS RECEIVABLE COLLECTION PERIOD (In Days): It is a measure of the average number of days that a company takes to collect revenue from its customers after a sale has been made. www. investopedia. com Account receivable collection period of GSK had radically increased from 4 days in the year 2007 to 27 days in 2008, which was caused by 770% increase in its accounts receivables (mainly because of high receivable on government tenders) over 2007. Although, this resulted in the augmented sales turnover but it also raised doubtful debt provision from 2. 9 million in 2007 to 4. 6 million in 2008. However, no significant rise was observed in receivable collection period days of 3. 06 days in FY06 from FY07. {draw:frame} ACCOUNTS PAYABLE PAYMENT PERIOD (In Days): It is used to calculate the average number of days that a business takes to pay off its creditors. www. investopedia. com Account payable days of GSK have decreased by 22 days from 93 days in FY 2007 to 71 days in FY 2008. This sudden decline was due to the increase of 43. 8% in cost of goods sold, which is fairly less in comparison to the 9. 94% rise in trade and other payables. However, in FY 2007 the 7% increase in COGS was in proportion to the 6. 25% raise in trade and other payables, resulting in no considerable change in the year 2007 in comparison to 94 days of its preceding year 2006. {draw:frame} Long Term Solvency and stability Ratios: GEARING (Long Term Debt / Equity): Gearing is a general term describing a financial ratio which compares some form of owner's equity (or capital) to borrowed funds. It is a measure of financial leverage, demonstrating the degree to which a firm's activities are funded by owner's funds versus creditor's funds. Financial gearing ratio of GSK is not significantly important as it has remained below 1% in the 3 year period from 2006 to 2008. Gearing ratio for FY 2008 and FY 2007 is 0. 25% and 0. 29%, which are relatively better in comparison to 0. 88% for the financial year 2006. This indicates that the company is highly dependent on its internal cash flow generation system and holds a stable financial position. Therefore, it currently and subsequently would have no problem to borrow funds but at present, it does not seem to rely on the strategy of generating finance through debt. {draw:frame} INTEREST COVER: It is a ratio that indicates how many times a company can cover its interest charges on a pretax basis. Failing to meet these obligations could force a company into bankruptcy. www. investopedia. com Interest cover of GSK had declined by 191 times being at 40. 05 times in FY 2008 in comparison to 231. 18 times in FY 2007 which was an increase of 93. 92 times in comparison to 137. 5 times in FY 2006. One of the major reasons for this drastic decline in the interest cover in 2008 is because of the rise in financial charges of GSK, which rose because of the foreign exchange losses occurred during the year by the company. This depicts an inefficient FOREX risk management for importing of raw material and exports of its products. While in the year 2007 exchange losses are apparently low comp ared to the other two years. {draw:frame} Market Ratio: EARNING PER SHARE (EPS): EPS is the portion of a company's profit allocated to each outstanding share of common stock. Earnings per share serve as an indicator of a company's profitability. www. investopedia. com EPS of GSK had increased from 9. 79 per share in 2007 to 11. 46 per share in FY 2008, but it was lower as compared to 12. 19 per share of 2006. The increase in the current year (FY 2008) is due to vigorous 17. 04% increase in net profit in comparison to the profit of FY 2007; however no further shares issue was made during the year. Whereas, the decline in FY 2007 was due to the issue of common shares (bonus shares) which expanded the company’s common stock by 25% but net profit remained almost same as of FY 2006. draw:frame} PRICE EARNING RATIO (P/E): A valuation ratio of a company's current share price compared to its per-share earnings. It is calculated as: Market Value/ share divided by Earning per share. www. investopedia. com P/E ratio of GSK has decreased by 13. 03 to 6. 63 in the FY 2008 compare to the FY 2007, but in 2007 it increased by 19. 66 compared to the 12. 81 of FY 20 06. The decrease observed in the year 2008 was because of the undervalued share price and improvement in the EPS during the year. The market price of the share in Dec 2008 was Rs. 75. 9 (Dec07: Rs. 192. 4) and the earning per share was Rs. 1. 46 (Dec07: Rs. 9. 79). The low P/E ratio will result in the high expectations of investors for the potential rise in share prices. The stock prices were generally low due to economic recession in the country and fragile moves of the investors at the stock exchange. The increase in P/E ratio during 2007 was due to decrease in EPS by 20% over 2006. {draw:frame} DIVIDEND PAYOUT RATIO (DPO): Dividend payout ratio is the percentage of earnings paid to shareholders as dividends. www. investopedia. com Dividend payout ratio of the company is depicting a growing trend. Its DPO in the FY 2008 reached to 82. % from 76. 6% in FY 2007, i. e. approximately an increase of 6%. This was due to a raise in net profit by 17%, consequently meeting its investorâ₠¬â„¢s expectation. Whilst the payout ratio of GSK indicates that it was able cover 65. 6% of the total profit in FY 2006. However GSK retained 23. 4% and 32. 4% of its net profits in the year 2007 and 2006 respectively, since heavy capital expenditure was incurred within these two years, which was financed by its retained earnings. {draw:frame} Horizontal Analysis: Knowing your customer is critical, but knowing your competition can be even more valuable. Better knowledge of rivals proffers a legitimate source of competitive advantage, horizontal analysis commonly known as competitor analysis is used for that purpose. This analysis tends to evaluate the entity’s standing in comparison to the other companies within the industry. It is not vital that the companies within the same industry are direct competitors (which can be seen in the case of GSK & Sanofi Aventis hereinafter referred to as SA); even then they would be expected to broadly demonstrate similar performance, in terms of growth. (ACCAP3). The Horizontal analysis of GSK is done within the same categories of trend analysis. Profitability Ratios: Profitability ratios of GSK are better than that of SA. The huge difference in the profit margin of these two corporations is due to the difference in their size. Gross profit margin of the GSK is 28. 77%, which is 4. 48% better than that of SA. GSK’s vast product range allows it to purchase and produce in bulk, hence reducing its overall cost. On the other hand, SA manufactures low volumes of products which increase its ordering cost and consequently raise its cost of production. Net profit margin of GSK is 14. 9% while that of SA is 0. 88% in the FY 2008. This difference of 13. 71% indicates that excessive non production cost of SA is squeezing its net profit. As a consequence low ROCE of SA of 15. 36% is witnessed in comparison to GSK’s 36. 84%. SA’s asset turnover of 1. 46 times indicates that it has utilized its assets 0. 2 times more efficiently than G SK to generate sales revenue. Short Term Solvency, Liquidity and Efficiency: The current ratio of GSK for FY 2008 is 4. 11 and of SA is 0. 98. Since SA’s current ratio is less than 1, it is can lead to the difficulty in fulfilling its short term obligations. SA’s liquidity problems can be witnessed from its short term borrowings covering 48% of the total Current Liabilities. Conversely, Current ratio of GSK is high showing signs of over capitalization. Additionally, cash and bank balances of GSK are 34 % of its total current assets which indicates weak working capital management. Quick Ratio of SA and GSK is 0. 2 and 2. 25 respectively. This enormous difference from the current ratios of these companies highlights the possibility of investment in assets which are less liquid. The inventory (stock in trade) of the SA is almost 62% of its total current assets while GSK holds around 44% of its current assets. SA has kept a stringent control over its working capital while GSK’s policy seems much more relaxed with its creditors and Debtors. These relaxed terms could be one of the reasons which helped GSK in increasing its Sales revenue by 26% in FY 2008 from FY 2007. SA, in contrast, has less receivable collection days and increased payable payment days. Hence SA is better at controlling its cash conversion. Long Term Solvency and stability Ratios: Both the companies hold stable positions in the context of long term solvency. Gearing ratios are not significant as these are less than 1% in both the companies. Interest cover of 40. 05 times shows a sound financial position. Finance cost occurred by GSK mainly consist of the foreign exchange losses borne by the company in importing the raw material. While SA has interest cover of 0. 51 times due to the high finance cost on short term borrowing. Market Ratios: The huge difference in EPS of GSK and SA is due to their different profitability position. Moreover GSK has a high payout ratio of approximately 83% as compared to 35. 28% of SA. NAV of SA is 2. 5 times higher than GSK particularly due to the high number of equity shares (common stock) issued, which is also reflected in its share price. SA currently has a share price of Rs. 211 and GSK’s shares are of Rs. 75. 94/share respectively. SA’s P/E ratio of 53. 18 indicates low earnings and high market price of its shares. This is a source of concern indicating that its shares are overvalued. Conversely, GSK’s P/E ratio of 6. 63, highlights that its shares are currently undervalued. Business Analysis The business performance analysis of GSK will be carried out using SWOT analysis and by general discussion of its business practices. SWOT SWOT analysis is fundamentally about discovering what a company does well, how it could improve, whether it is making the most out of the available opportunities and whether there are any changes in the market that call for corresponding changes in the business. http://www. bnet. com/2410-13240_23-66478. html Strengths The largest pharmaceutical company in Pakistan. The first company in Pakistan’s pharmaceutical industry that crossed Rs 10 billion sales mark. Produces 269 varieties of products, out of which Augmentin, Amoxil, Panadol, Ventolin and Ampiclox are among the top 10 pharmaceutical Rx products of Pakistan. The sales revenue of Augmentin and Amoxil reached to PKR2bn and PKR1bn in 2008. Betnovate is its leading brand by volume. Segment leadership in antibiotics, respiratory products, anti-malaria, gastrointestinal (GI), derma and hepatitis products, vaccines and anti helmentic medicaments. Stood at 1st position in poster competition of â€Å"International Clinical Operations, Community of Practice Meetings†. Awarded with corporate philanthropic award certificate in 2008 by Pakistan Centre for Philanthropy. Contributes to social welfare by running various charitable programs with leading NGO’s in Pakistan such as Pakistan National Forum, National Children Human Development on women’s health, concern for Children trust and the trust for health and medical sciences. Awarded as â€Å"Best place to work-2008† by a leading HR consultancy in association with Pakistan Society for Human Resource Management. Committed to innovation by developing medicines through its global R effort. Weaknesses Due to high cost of importing raw material for medicines, GSK faces strong competition from low-cost generic equivalents. Ineffective foreign exchange currency contracts resulted in the increase of exchange losses (financial charges) for the current year. Strict labor laws and a corporate income tax rate, makes it difficult for GSK to operate. Weak cash management. Opportunities: Potential for growth in the domestic market. Sector modernization initiatives will create expansion opportunities. Cut of import duties were made by the government on Pharmaceutical products. This will increase the import of products and motivate foreign involvement in respect of the investment, raw material purchase and technology transfer. Prospective increase in exports of medicines is possible as currently, Pakistan is ranked among the top eight leading exporters of herbal medicine. Threats: Significant counterfeit drug industry. Domestic patent law is below international standards. Illegal copying, counterfeiting and law enforcement is continuing to present significant problems for the international pharmaceutical companies operating in Pakistan. Rising numbers of generics is a major barrier to multinational investment. Increasing inflationary trends without consequent increases in the prices of drugs. Exposed to foreign exchange currency risk as the company is highly dependent on import of raw materials. Slow registration process for approving new formulae for medicine thus hampering its access. More about GSK: The Vision: â€Å"The opportunity to make a difference to the lives of billions of people† GSK states that they are aware of the work they do to improve the quality of people’s lives. It takes pride in this and is committed to produce products that benefit patients. It is committed towards improving and implementing the healthcare programs in Pakistan, particularly the area of preventive healthcare and vaccines remains essential and explicit. GSK is the world’s leading developer and manufacturer of vaccines. In order to evaluate the alignment of company’s activities with its vision, I have conducted the business analysis under the following heads: Market Eminence: GSK has always remained a strong wing of the pharmaceutical industry of Pakistan. It has managed to maintain a consistent growth in demand of different vaccines, antibiotics, dermatology, gastro intestinal & cardio vascular portfolios. GSK has a wide distribution network, it sell its products to wholesale drug distributors, hospitals, government entities and other institutions, hence covering almost the whole pharmaceutical market. It produces 7 out of 20 top brands in the pharmaceutical industry of the country. It was as awarded â€Å"The most preferred pharmaceutical company† of the year. It is the market leader of pharmaceutical industry of Pakistan. Quality Management: Quality in the Pharmaceutical industry is of significant importance. Due to the sensitive nature of industry, strict quality parameters are set by the regulatory bodies for pharmaceutical companies. GSK is one of the few companies which not only follow the quality standard set locally but also practice international quality standards. It was reward with the prestigious â€Å"Corporate Excellence Award† by Management Association of Pakistan (MAP). This was presented after independent evaluation of quality of management practices followed by GSK including corporate governance practices, marketing planning, production, R, corporate social responsibility and remarkable financial performance. GSK has always set high quality standards in the industry. It has recently introduced quality management system and is conducting workshops for its successful implementation. It has also installed one of the fastest tube filling and cartooning machines for its production efficiency and is continually advancing towards improvement in product’s quality and productivity. Research & Developments: GlaxoSmithKline, Pakistan (GSKP) Limited is the largest research-based pharmaceutical company in the country and the second largest in the world. It has recently conducted 19 Phase-II and III studies in therapeutic areas of Oncology, Neurosciences, Psychiatry, Metabolic and Hematology. It got 1st Position in poster competition in â€Å"International Clinical Operations, Community of Practice Meeting† held in Bangkok. Its R department’s 10 team members were presented with â€Å"Gold Awards† and Certificate of Recognition by CMD. It spends globally around US $ 14 million on research and development each day. The Company has consistently launched new products. † Sensodyne Total Care† and â€Å"Sensodyne Gentle Mouthwash† launched with unique formulation are its recent addition. Overall, it has supported the Pharma industry of by introducing low cost and quality pharmaceutical products. Employee’s Development: GSK is well known for being one of the most preferred employers. It has been awarded as â€Å"Best place to work† in 2008 by a leading HR consultancy in association with Pakistan Society for Human Resource Management. International Day of Disability was celebrated at GSK, showing its strong believes in equal opportunity employment. Its HR team recently launched a new initiative titled â€Å"Mentoring†, which provides guidance and assistance for developing talent. It also conducted a learning fair in 4 major cities of Pakistan, which offers a diverse range of courses for employees’ development and learning exposure. In order to promote and give a chance to new talent, its HR team visited 14 Universities during its recruitment process. Corporate Social Responsibility (CSR): GSK believes that corporate social responsibility is an integral and embedded part of its business. It is sincerely involved in the community work and in various charitable projects in Pakistan and around the world. It works under the context of various health, women and child development, education, and relief programmers’ at grass root level. In 2008 GSK has been rewarded with a corporate philanthropy award in recognition of its support for the social development causes in Pakistan. It is the major corporate donor for numerous NGOs and also a member of the National Commission for Human Development (NCHD). As a movement to its corporate social responsibility GSK Pakistan has introduced 1st of its kind, value health card. The card will be issued solely on the prescription of doctors, for those who cannot afford pharmaceutical products at their standard retail prices. Environment, Health and Safety (EHS) Environment, health and safety are major concerns for GSK. It continually works towards improving people’s health and safety and for developing environment friendly products. It has received Environment Excellence Award (AEEA 2008) and EHS Excellence Awards in recognition to its good environmental practices. It has installed low-cost engineering solution (glove box), which reduced OEL level by 40%. Business Continuity Plan desktop exercise was also conducted at all of its sites. CONCLUSION: GSK leads the industry in terms of value, volume and market shares. It has managed to improve the quality of human life along with showing consistency and stability in its overall business growth. This report’s objective, to assess the financial and business position of GSK, was achieved in four key areas. This report aims to analyze the financial and business position of GSK over the three year period from 2006 to 2008. In the context of aforementioned objectives this report concludes: Business: GSK‘s overall business performance is in line with its mission and is contributing towards its strategic objective. Due to its presence in the country since 1955, it has managed to build strong business foundation and is able to maintain consistent growth in the market. It has excelled in the field of Research and Development by introducing new products covering various generics, ensuring employees satisfaction by providing better environment to work, expanding its operation through empowerment of diverse product portfolio, contributing towards corporate social responsibility by capturing tasks; to work for the social health and safety, education and environment friendliness and most importantly being profitable, depicts its strong businesses practices. Financial Trend: GSK Pakistan has managed to give better financial results in the current year 2008 as compared to the FY 2007, which identifies its financial stability and further growth prospects. Even though the returns (ROCE & ROE) in the current year have improved but its profit margins (GP% & NP %) have depicted a declining trend, which was a result of raise in its revenue expenditure (COGS, Admin, S and Financial expenses). However it can be witnessed that the company has remained focused on continuous improvement in its business processes and sustained its investment in its product & promotion to offset the negative impact on margins through productivity improvement and sales growth. Although the company was not able to perform well in the year 2007 in comparison to its preceding year 2006, but it was able still able to deliver a stable financial performance having no major threats. This decrease in its financial position during the year was mainly due to the increase in inflation and depreciation in rupee that affected its operating margin negatively. Moreover the capital expenditure made during the year caused a decline in its profitability ratios, but its benefit will be obtained in the later years. The company has always provided sound investment returns which can be seen by consistent growth in its payout ratio. In the year 2007, GSK announce bonus issue of 1:4 when it declared lower dividends, thus retaining its investor’s confidence and being a reliable company for all of its stakeholders. Competitor’s Comparison: Due to its larger asset base, vast product portfolio, global presence and skilled research & development function GSK has a natural edge over its competitor Sanofi Aventis. Overall GSK’s financial performance is better than its competitor in the FY 2008. Almost all of the ratios calculated under the four broad heads, shows that GSK is giving better returns and incurring less cost. Profitability ratios of the GSK show a better picture than that of Sanofi Aventis, with the exception of Asset efficiency which shows a better utilization of assets by Sanofi to generate revenues. Liquidity position of both the companies is stable apart from the huge investments that were stuck in the stock in trade. Higher EPS and low P/E ratio of GSK shows that there is a potential for rise in its share price of the Company, in comparison to the overvalued shares of SA resulted in high P/E ratio. Future Prospects: The company can be seen as being committed to respond to the challenges of the operating environment and continues to seek opportunities to drive growth in its existing portfolio. It has a good pipeline of innovative new medicines together with the sustained availability of existing products. However, the pharmaceutical industry, in which GSK exists, has ample of barriers such as high inflationary environment without general price relief, which makes it difficult to manage its business operations. The company has a great potential for growth, but its sustained success depends on the industry’s regulatory environment, that should be able to balance the interest of the company with the need of affordable healthcare. APPENDIcES APPENDIX 1: BALANCE SHEETS (GSK) {draw:frame} APPENDIX 2: PROFIT & LOSS STATEMENTS (GSK) {draw:frame} APPENDIX 3: BALANCE SHEETS (SA) draw:frame} APPENDIX 4: PROFIT & LOSS STATEMENTS (SA) {draw:frame} APPENDIX 4: RATIOS FORMULAE {draw:frame} APPENDIX 5: RATIOS CALCULATIONS {draw:frame} Key Skill Statement Skill and Learning Statement is the testimonial which includes the compilation of key factors learned during the course this project. This part of report includes following: What did you learn from the meetings with your project mentor, includ ing the presentation that you gave to your project mentor? How well do you think that you have answered your research question(s)? How have you demonstrated your interpersonal and communication skills during the project work? How has undertaking the RAP helped you in your accountancy studies and/or current employment role? Choosing a Mentor In accordance with the guidelines, I was required to hold three meetings with my mentor. Working as a trainee in one of the big four audit firms, made the task of locating a mentor quite easy. Mr. Qayam Karim Maknojia (ACA from Institute of Chartered Accountant of Pakistan), Manager in Financial Advisory Services at Deloitte Touche Tomastu, agreed to occupy the role of my mentor. I choose Mr. Qayam as my mentor because of his vast knowledge and experience in the field of advisory and audit. Meetings Planning all the meetings before hand ensured their smooth running, and enable maximum to be achieved in the shortest time. Meeting 1 Due to time constraint and workload, first meeting took place at 7 pm, Wednesday 16th September, 2009 at our client’s office. In order to get most out of the 1st meeting, I had performed all the background work and shortlisted two topics, topic 8 and Topic 20 for the purpose of this report. I also selected the potential organizations that I was willing to use for each respective topic, but before making the final decision I decided to consult Mr. Qayam. After discussing number of issues like learning potential and merits of each topic I decided to underpin my research report on Topic 8, business and financial analysis of an organization over a three year period. We also discussed the potential sources of information which I could use for the purpose of this report. Due to workload, Mr. Qayam told me that we will hold the next meeting after finalizing the client and asked me to mail him the agenda and progress of the report one week before the meeting. Meeting 2 Second meeting took place at the 6:30 pm, after office hours, at Deloitte Karachi Office on Thursday 29th October, 2009. As requested by Mr. Qayam, I e-mailed him the agenda, my uncompleted report and excel generated worksheet one week before the meeting. By then my report consisted of interpretation ratios of the Company and business evaluation aspects with initial data in bullet points that I was going to use. Mr. Qayam assessed the work that I had performed and pointed out weaknesses and lack of reasoning in my interpretation. He also suggested that I should incorporate a competitor analysis so that a complete financial overview is covered in the report. Furthermore, he also pointed the fact that, it was not feasible to use business model as the data required for them are hard to come by. Instead, he recommended me to take some specific aspect of the company’s operations and evaluate their alignment with its vision and strategic objectives. We concluded the meeting and my mentor told me to take as much time as I want, because the deadline for the submission of the report is too far. He asked me to mail him final draft report once I have completed it. Meeting 3 The last meeting was held in the conference room of Deloitte Pakistan’s Karachi office on Wednesday, 25th November, 2009. I had mailed the final draft report to my mentor around 15 days before the meeting. After receiving his acknowledgment, I prepared presentation on Microsoft PowerPoint 2007 slides to give it a more professional look. I consulted my seniors, as how to make and delivery good quality presentation. Keeping the guidance provided by my seniors in mind, I prepared and rehearsed my presentation several times. I was a bit shaky at the start of the meeting, but my confidence level grew as I proceeded. After the presentation question answer session took place, which was most exciting as my colleagues and mentor tried to challenge my research by asking numerous questions. I was glad that I had prepared myself for this, although I was not able to answer 100% of the questions asked, my mentor and colleagues were satisfied with the work I had performed and effort I gave in preparing this report. Assessment of the Presentation The presentation took place in front of my mentor and my office colleagues. It took me nearly two days to structure and prepare the presentation. After that, I rehearsed the number of times alone to build confidence. The day before the meeting, I gave this presentation in front of my friends, who are MBA professionals so that they can point out any weakness in my communication. At the start of the meeting I distributed, handouts consisting of ratios, competitor analysis and summary of the business performance of the Company. The meeting progressed smoothly throughout the presentation. As I have already informed the listeners that a question answer session will take place after the presentation is over, no interruption occurred in between. In the introduction phase, it was quite clear that most of my colleagues didn’t possess any prior knowledge of GSK Pakistan Limited, so they took a keen interest in the topic. During the Q & A session numbers of questions were asked by my colleagues challenging my research. Most of the questions related to the financial aspects of the Company, like why I chose that particular competitor. Most exciting questions were asked by my mentor, which focused on the business performance and which widen my horizon of analyzing the business. Overall the presentation was effective. I was able to deliver the presentation in the allocated time, although question answer session went longer than I had hoped. After the presentation my overall efforts were appreciated by my colleagues and mentor. Presentation Outline {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} {draw:frame} Questioning Questioning is a vital element of effective communication based on any medium. It enhances understanding, searches for clarification and opinions. There are two basic types of questions: Open questions such as; what†¦? Who†¦? Where†¦? The responses they require are in broad terms. Open questions can further be classif ied in to probing questions and leading questions. Closed question defines a parameter which limits the response of the questioned individual to choices like ‘Yes or No. During the three meeting Questioning formed a significant part of the communication. Through this me and my mentor developed ideas and structured my thoughts which helped me in completing my report. During the question answer session both open and close ended question were asked by the audience, which tested my knowledge rigorously and helped me identifying weakness in the communication process. However, Questioning was two way process. Numerous open ended questions were asked by me, in order to gain better understanding of the work I had to perform and whether I was on the right track or not. Listening As communication are a two way process between sender and a receiver. Listening is the act of decoding the information being received and it forms a fundamental part of a communication process. Listening is as important a characteristic as questioning. Every communication process is open to noise and distortion and the meaning of the message being delivered is altered or lost if they are present. The first meeting held was open to frequent physical noises and distractions. One of my weaknesses that came into light during the 1st meeting was that, I found out to be an impatient listener. I interrupted Mr. Qayam at numerous times when I did not agree with his opinions. Learning from the 1st meeting other meetings were arranged and timed to avoid interruption. I started to become more patient and listened to my mentor with full concentration and noted down questions which I asked after he has concluded. During my 3rd meeting I noticed that some of the audience members were not listening effectively as they asked question which have already be answered during the course of my presentation. Self Evaluation {draw:g} Overall communication process consists of a sender, transmitting a message to the receiver through a communication medium. The process of communication is incomplete and/or ineffective until it is confirmed via feedback, that the receiver understood the intended message. The communication between me and my mentor could be seen by the above communication model. During the course of my project, the overall interaction with my mentor was quite effective. We were able to decode each other’s message easily and were able to communicate our thoughts properly. Perhaps, one of the reasons for effective communication was the informal relation with him, which allowed me to ask questions without being reluctant. I have used number of channels to communicate with my mentor, E-mail being the most effective medium after face to face conversation. The interaction with my colleagues during the presentation was not effective. Reason for which could be that I was not able to generate their interest. Due to this I had to repeat things over and over again. I was also asked questions, answers for which were already given in the presentation further implying that communication flow was hampered. Being an ACCA Affiliate and recruited recently, as a trainee consultant in Deloitte Pakistan, requirement for sound evaluation and interpretational skills are essential. During the course of this project, it had not only strengthened my academic knowledge I acquired before and furnished my interpretational and data mining skills, but also helped me into developing presentational skills which I lacked. Significant portion of the analysis of GSK was performed using ratio/trend analysis over a three year period ended 2008. In order for the assessment to be systematic and logical these ratios were broken into 4 broad categories so that proper attention would be given to each section and no major area was overlooked. To give a more meaning evaluation of the Company’s financial performance, I also incorporated, as guided by my mentor, a horizontal or competitor analysis of GSK with Sanofi Aventis. Performing business analysis of GSK was a difficult task, as this analysis required qualitative data in addition to the quantitative data about the Company. After carefully evaluating how to assess the business performance of a company I came to the conclusion that it was not feasible to use business evaluation models for the analyses of GSK as significant internal data was required. I discussed different operations for the company, evaluated whether’ they aligned with its vision and strategic objectives. Furthermore, I also used a corporate appraisal technique called SWOT analysis. In order to make my findings easy to understand for my mentor, I decided to use as minimum figures as I could and instead relied upon using graphs and interpreting data as a percentage. Microsoft Office was extensively used for this and by the end of this research project I was able to navigate around and use advance level options of its applications with ease. According to me, this research and analysis report contains a sound financial and business analysis of GSK Pakistan and fulfills the requirement to Topic of 8 of BSc. guidelines with ease. References Printed Material ACCA Study Text (2008/09) Paper F9 Financial Management. Kaplan Publishing Foulks Lynch ACCA Study Text (2008/09) Paper F7 (INT) Financial Reporting. Kaplan Publishing Foulks Lynch ACCA Study Text (2008/09) Paper P2 (INT) Corporate Reporting. BPP Learning Media Ltd ACCA Study Text (2008/09) Paper P3 Business Analysis. BPP Learning Media Ltd Annual Report (2006), Glaxo SmithKline. Annual Report (2007), Glaxo SmithKline. Annual Report (2008), Glaxo SmithKline. Electronic and Other Material Types BNET. SWOT Analysis: http://www. bnet. com/2410-13240_23-66478. html (Visited 05th November 2009) Financial Analysis http://www. enotes. com/small-business-encyclopedia/financial-analysis (Visited 05th November 2009) Introduction http://www. roi-ally. com/BPE_vol1. htm (Visited 05th November 2009) Industry http://www. ppma. org. pk/ (Visited 05th November 2009) Investopedia. Vertical Analysis: http://www. investopedia. com/terms/v/vertical_analysis. asp (Visited 05th November 2009) Investopedia. Return on Equity: http://www. investopedia. com/terms/r/returnonequity. asp (Visited 05th November 2009) Investopedia. Current Ratio: http://www. investopedia. com/terms/c/currentratio. asp (Visited 05th November 2009) Investopedia. Quick Ratio: http://www. investopedia. com/terms/q/quickratio. asp (Visited 05th November 2009) Investopedia. Accounts Recievable Collection Period: http://www. investopedia. com/terms/a/average_collection_period. asp (Visited 05th November 2009) Investopedia. Accounts Payable Payment Period: http://www. investopedia. com/terms/a/accountspayableturnoverratio. asp (Visited 05th November 2009) Investopedia. Interest Cover: http://www. investopedia. com/terms/i/interestcoverageratio. asp (Visited 05th November 2009) Investopedia. Earning Per Share: http://www. investopedia. com/terms/e/eps. asp (Visited 05th November 2009) Investopedia. Dividend Payout Ratio: http://www. investopedia. com/terms/d/dividendpayoutratio. asp (Visited 05th November 2009) William Pollard. Quote (Visited 07th November) http://thinkexist. com/quotation/information_is_a_source_of_learning-but_unless_it/226524. html BIBLIOGRAPHY Electronic and Other Material Types Competitor Websites Novartis Pharma: http://www. novartis. com (Visited 05th November 2009) Sanofi-Aventis: http://www. anofi-aventis. com. pk (Visited 05th November 2009) Regulators/ Governments Websites Karachi Stock Exchange: http://www. kse. com. pk (Visited 15th November 2009) Pakistan Pharmaceutical Manufacturers Association: http://www. ppma. org. pk (Visited 12th November 2009) Newspaper Websites Business Recorder’s website: http://www. brecorder. com (Visited many times) Dawn’s website: http://www. dawn. com (Visited many times) The Financial Daily webs ite: http://www. thefinancialdaily. com (Visited many times)