Convergence from GAAP to IFRS Essay Example | Topics and Well Written Essays - 1000 words

Convergence from GAAP to IFRS - Essay Example The paper will further discuss the benefits, which will accrue to United States firms, investors, and the economy as a whole, as a result of converging from United States Generally Accepted Accounting Principles to International Financial Reporting Standards. Convergence from Generally Accepted Accounting Principles to International Financial Reporting Standards Currently, International Financial Reporting Standards are used by more than 12,000 companies in the world and have been in use in over 100 countries around the globe. According to Kaiser et al. (2012), there are various ongoing projects, which were initiated by the International Accounting Standards Board and the Financial Accounting Standards Board with an aim of enhancing the International Financial Reporting Standards and America Generally Accepted Accounting Principles, and eventually making the principles fully compatible. Majority of these projects covers the key components of the financial reports. Through these proje cts, the boards plan to enhance financial disclosure information for shareholders while also aligning U.S. GAAP and international bookkeeping standards. Revenue recognition, financial instruments, and leases are deemed as the priority projects largely as a result of existing difference of IFRS and U.S. GAAP and the necessity for enhancements, especially in the principles they are intended to replace. The boards have also concentrated on financial reports presentation and consolidations projects due to considerable implications they might have (Kaiser et al., 2012). According to Henson (2012), in late 2011, SEC Chief Accountant, James Kroeker, indicated that considerable progress had taken place on numerous IASB and FASB Memorandum of Understanding convergence projects encompassing other comprehensive financial and income reporting fair value guidance. In January 2012, the chairman of IASB, Hans Hoogervorst acknowledged that International Financial Reporting Standards pose several ch allenges for the SEC. U.S. uses a sophisticated, mature and time stated set of bookkeeping standards, and this makes it difficult to make the convergence decision. In June 2012, IASB and FASB agreed on lease bookkeeping model where all leases with a period of one year or more would be reported on the balance sheet. Hans Hoogervorst indicated that the two boards anticipate completing the convergence project by year 2013 (Henson, 2012). The considerable progress in the convergence projects requires the United States companies, to start examining the implications of the convergence on their operations. This would enable companies to plan how to adopt the changes, which will arise from the convergence. This implies that, at the beginning of 2014, the U.S. public traded corporations might be obligated to file financial reports with the SEC using the International Financial Reporting Standards. In my opinion, it is beneficial for the United States to converge from America Generally Accept ed Accounting Principles to International Financial Reporting Standards. The convergence has various challenges and advantages. The challenges facing the transition may be addressed appropriately by all stakeholders involved in the convergenc

To my unapproachable husband, Don Juan Essay Example | Topics and Well Written Essays - 750 words

To my unapproachable husband, Don Juan - Essay Example Can it be that you have deceived me with false promises Looking back on our relationship, I wonder how I could be so innocent as to believe you would always be faithful. I have been told of your transgressions and as much as I want to dismiss the frivolous gossip, I cannot completely do so without your returning to me and putting the lie to these words (33). My servant Gusman has tried to ease my pain but even as he speaks he confirms your infidelity. How could I be so blind to your coldness (33, 41) Why have you left me Why can you not face me and defend yourself Let it be known that I can give you any number of excuses and can place the words on your tongue that would convince me that what I have been told is merely hearsay and not your true actions. I will continue to pursue you and when we meet once more, I would ask you to say the words I wish to hear. I ask only that you explain yourself, that you tell me you adore me and that nothing but death can tear us apart. I need to hear you convince me that urgent business called you away, and nothing less than that would separate us. Please make it known that you will return to me as soon as you can and that you live with the thought of being with me once more. Your honeyed words brought me into our nuptial bed, but now you would seem to be without the language of love, more tongue-tied than smooth in speech (41-42). I must tell you, t I must tell you, though it breaks my heart to say it, that my brothers are on a quest to find you and to kill you (69; Fort & Kates 47)). As heart-sore as I am at your leaving me, I do not wish to see you dead. It is my hope that Gusman can deliver this letter at least to your manservant so that you will be warned of danger. Gusman has told me that my devotion to you might be met with poor return should I find you. He has tried to convince me to stay at home, but I have not chosen to listen. Surely, you would not wrong me in this way. Do the holy bonds of matrimony have no meaning to you-you, to whom the sacred doors of the convent were no barrier (34; Fort & Kates 47). Sganarelle, your loyal servant, has called you a scoundrel. Can that truly be At our last meeting, you neglected to clear my mind of doubt, and it was I who invented a hundred good reasons for your sudden departure. Should you, at the very least, choose to answer this letter, you can swear your heart is unchanged and you still adore me. You can tell me how sad you are that business keeps you from returning home for some time, and if I simply return home quietly, you will follow me as soon as your affairs will allow it. If you cannot face me and say these words, at least in a letter they would soothe my pain. The stories I have heard about your infidelity are difficult to accept, and you could so quickly put my doubts to rest. There is talk of a peasant girl, in fact more than one peasant girl, with whom you have dallied (49; Gethner, para. 9). Tell me it is not so. If you can but convince me of fidelity and love, I will erase all of the accusations I am making against you and will love you forever. I have spoken with your father, and he assures me though you have sinned in the past, you have seen the error of your ways, and it is my strongest desire that since our marriage, you have been loyal to me. With hope for our future.

White Privileges and the role they play in American Society Essay Example for Free

White Privileges and the role they play in American Society Essay Our daily lives are affected by race whether we know it or not. We all see the world through a racial lens that colors our world, African American, Caucasian, Asian, Mexican, or other. I came across an article online entitled â€Å"Black Sons, White Privilege, Ferguson, and the Gospel† which is written by Caucasian Pastor Jeremy Haskins. Haskins has three sons, two of whom are African American. He talks about a time, he went into a children’s recreational dwelling, taking his sons with him, he took his African American son in and tried to sign him in, but he was denied admission because of the color of his skin (even though that was his adopted son it didn’t matter). However a short while later, one of the Pastor’s Caucasian sons walked in (he wasn’t on the party list), without being asked to sign in, not even a second glance. The Pastor and his wife do not want to believe that white privilege still exists but, unfortunately after those conditions and the current situation going on in Ferguson, MO, they may have too. As the father of two African American sons, Pastor Haskins, has (unfortunately) witnessed firsthand how differently his boys are treated because of the color of their skin. He and his family unlike many have to live everyday of their lives wondering why we still live in such a racially divided nation. Also different from most Pastor Haskins, has not only previously experienced racial tension but he’s articulated it and made a practice of blaming it on his childhood. But somehow he manages to overcome this, and make peace with his social injustices. He continues to go and discuss how the shooting in Ferguson has infuriated him in more ways than just the fact that a young unarmed African American boy was killed, but because of the response that African Americans and Caucasians alike are having. Instead of retreating to the church and acknowledging their antagonism towards one another and working to resolve the racial difficulties we are having here in the U. S, they have turned to looting, rioting, and protesting. The fact the Ferguson Police Dept.has used the media to repeatedly misinform the public with false information is not only severely angering, Pastor Haskins, but it has caused him to weep for his two African American sons. But what’s really pissed him off is that the Evangelicals say things like â€Å"Michael Brown was a thug, he was drunk, etc†¦Ã¢â‚¬  and these are supposed to people of the church. Speaking on angering, Pastor Haskins, the one thing that has completely and utterly frustrated him is that the Evangelicals are â€Å"offended† that the people say white privilege still exists. They do not think that they are receiving any special privileges, they honestly think that everyone is treated the same way. That response has led to the, Pastor believing that the Evangelicals will agree to anything racial or not to avoid the thought of even having to side with African American males and females alike. The Pastor goes on to say that, it is rather easy to deny the privileges and go with the flow, if you are a Caucasian American yourself and enjoying the privileges. Not many people will understand what is like to be at the receiving end of the pole when it comes to racism and white privilege. I can relate to Pastor Haskins, growing up as a biracial child, with an African American father and a Caucasian mother, I got looks, I was talked about, I wasn’t allowed to do things that other kids got to do. There was even a time in Kindergarten (I remember this because I am reminded of it every single day), I was sent to the end of the line in my class, because â€Å"the Caucasian kids had priority over me, the other African Americans, and minorities in my class†. It’s sad to see that it has been over 50 years since the Civil Rights Movement, and here we are today in 2014, and Caucasians still have their â€Å"White Privilege†.

Risks Related To Change Management In Shell Business Essay

Risks Related To Change Management In Shell Business Essay In the very beginning it is already mentioned in the finding of this report about the factors which cause resistance to change. The two major reasons apparently identified for resistance to change are the fear of losing the job status and job security. The mentality of an individual varies accordingly and there are multiple factors which influence the human thinking. Attitude towards change is a similar example of this and not everyone take it positively. Fear of losing here refers to the risk of carrying out the change process unsuccessfully. The moral of the individuals could go low if the results of the change are unsuccessful and the individuals are mainly scared of failure so they dont want to experiment new things which acts as a barrier to change. Another major reason found which resists change was the job security and the job status of the employees. Here the fear is that the individual could lose their strong position and command due to change being adopted and most of the e mployees in the organization are not really keen to risk their status or job itself. As far as literature is concerned on this topic Lewins (1940) views were in support of this research, he presented his views on resistance to change linked to the human behavior which was also the case at shell, the staff resisted when the idea was presented to implement SAP over JD Edwards. Besides that the findings can also be related with the research of Schermerhorn, Hunt, and Osborn (2005) who said that the individuals resist change to protect their interests and also to defend the elements which are valuable to them, findings in this research present a similar picture as it can be concluded from the research that individuals resist change mainly because of fear of losing and protecting their job and job status. Eight step reasons identified by Schermerhorn, Hunt, and Osborn (2005) are also very similar to all the reasons for resistance to change mentioned in the findings section. Coch French (1948) also researched on this topic and their research was conducted in Virginia in a Harwood, manufacturing company, their findings suggests that the individuals lack of interest in the change process and no participation from their side is the major cause of resistance to change. Somehow there is a disagreement with his concept on this as the findings above do not include any such factor of lack of interest or participation in the list of resistance to change. His work was also challenged by Lawrence (1954) and he said that the findings of Coch and French were misleading as they were away from the reality in their research. He then suggested a list of reasons why people resist change, that list is mentioned in the literature review section and again a disagreement on his concept as his reasons given were also close to the findings above. The most important reason suggested by Lawrence was that people resist change because the outcome is unknown to them and the other m ajor reason given was that there is a lack of trust amongst staff and thus they resist change and this reason was also mentioned in the findings so the idea of Lawrence on resistance to change is in support of this research . 5.2-Models for dealing with resistance to change There are many models which have been suggested by different scholars to deal with the resistance to change. Kotter Schlesingers six step model is widely accepted in the industry besides that Lewins 3 stage model is very popular as well. Few other models for dealing with resistance covered in the research are force field analysis, Greminis 4 Rs, Greniers Organisational growth for organisational learning etc. However after conducting the research and surveying in the industry and getting feedback from individuals from different organisations, it can be concluded that the Kotter six steps and Lewins three stage model of unfreezing, change and refreezing are the most accepted and understood models for change used in the organisation. These two models cover all the important aspects which are normally required in an organisation when dealing with change. Discussion has been made in the findings on the concepts of organisational learning and organisational growth and the Greniers model f or organisational growth since these topics are no different from the subject of change management. The findings from the research conducted in Barclays and Reckitt Benckiser is in support of Kotter idea of managing resistance, the commonly found resistance in both the companies is usually managed by one of six steps presented by Kotter or sometimes multiple steps could be used to deal with resistance. 5.3-Business Process Re-engineering The topic has been covered in the literature review since the case study of Shell is an example of business process re-engineering. BPR usually involves radical redesigning of a process in terms of cost, quality, speed or service to improve the conditions dramatically within no time, the BPR process also requires fundamental rethinking of the ways operations are carried out in an organisation. Shell desired to change its ERP system JD Edwards and implemented SAP over it in order to standardize its process and remove complexities, this could be termed as an example of BPR. The primary findings of this research can be related to the literature presented by Hammer and Champy, and Wenrich and Ahmed, they felt that the concept of BPR is usually linked to the ERP implementation and the case in Shell was one example of this. Besides that this concept is also supported by the idea of Chan and Peel who conducted their research on this topic in many different companies and their findings sugge sts that the main reason for BPR is improving on the organisational efficiency in operations and also raising the level of customer service. Shell implemented the BPR to increase its efficiency. 5.4-Risks related to change management in Shell There are various risks related to the transformation process in Shell which have been identified in the findings section, the major ones being the reputational risk, high project cost and desired results not being achieved. As Shell is a big name in the global market and holds a respectable reputation in the industry so failure to carry out this process would have damaged the reputation of the organisation and as the investment was of more than 100 billion euros so the level of risk went higher with the massive cost. Primary findings of this report are more close to the views presented by Butterworth-Heinemann, as he has described the risks related to the system changeover in his research and the risks covered by him are very similar to findings above. He has only focused on the risks related to the system changeover and the common risks identified in the findings above and his research are data conversion, user acceptance of change, system interfaces and integration and end user in volvement. So in comparison to Proscis concept discussed above, it is clear that Butterworths idea of risks faced in change management is more agreeable as the literature is more similar to the research above. On the other hand Proscis view on risks is more general and related to the specific project and the organization as a whole. The risks identified by him are more general like the customer and supplier view, resistance in general, budgeting issues, negative impact, stress, conflicts and misunderstandings amongst staff, etc, it is not specifically linked to the system changeover so the primary findings are in more support of Butterworths work over Proscis concept 5.5-Change Process at Shell Shell transformed its ERP JD Edwards to SAP as discussed above, and the primary reason being to increase the efficiency and to standardize the global policies. The reasons for the change have already been discussed above and to sum up, the major factors which pushed Shell towards the change were simplification of processes and make the use of latest technology. The change at Shell would be classified as a planned change, various views have come in front regarding planned change but the most attractive view on the topic was presented by Burke George Latwin, and Kotter. Burke George presented a model in which the change was classified as transactional or transformational. The change adopted in Shell could be termed as transactional change, as the fundamentals of the organisation remained same and only some features of the company changed. Another scholar making sense is Kotters, he presented his ideas on planned change in the eight steps model and all of the components in that model are all completely linked to the heart of the organisation and are specifically focused on the concept of change. The other theories discussed in the literature review are mostly the example of incremental change which is the change applied in steps, and after conducting the research on the types of change it was found that Quinn concept seemed appropriate, he suggested that the incremental change was leading to a slow death while the radical change headed towards irreversible transformation. The change at Shell was not an incremental change. In Shell Pakistan the change was implemented in formal steps and a proper procedure was being used which has been discussed above in the findings. At the end of the research it was found that the process of change in Shell was much organised as the management conducted surveys, authorities and responsibilities were very clearly defined and they made the use of a change agent who initiated the process and pushed the others to follow it. The chan ge at Shell in terms of organisational level was an example of operational change. This can said since the operational change talks about the concepts of BPR, TQM, continuous improvements, JIT etc, and all these were considered at Shell during the transformation stage. Pettigrew differentiated the types of change and said in his research that the operational level change are taken at a small score and are not important in the organisation. I firmly disagree with his ideas and feel that the operational level change is equally as important as change at any other level. The change in Shell was an operational level change but it was very much required and wasnt a small scale project since a massive investment was made, the findings suggest that the change implemented was very effective and the organisation succeeded in achieving their goal. 5.6-JD Edwards From the findings above it can be concluded that the employees in Shell Pakistan were not very satisfied with the performance of JD Edwards as an ERP. The feedback was taken through a questionnaire completed by them to find out how they feel about the system and to summarize their views in a nut shell they did not feel that JD Edwards was a flexible enough tool for the product reconciliations and it they also felt that it was not the ideal system which could be used for reporting purposes. Rowena Hawksley had a different view about the system and She said it is a valuable system for the business to use for Asset lifecycle management, inventory control, supply chain execution, manufacturing and engineering purposes etc, but a disagreement is reached from his ideas as the findings in this report on Shell differs from the views presented. 5.7-ERP With regards to ERP many scholars have presented their views and few of them have also been covered in my literature review, ERP was best described by Gale, he viewed ERP as an important tool for business to manage operations, which will integrate used in Shell Pakistan during the implementation of SAP. According to Richard Goekey and Robert Faley the SAP implementation in chemical and Pharmaceutical industry has not been very successful in terms of inventory management in the organisation, it can not be agreed as the implementation of SAP in organisation from any industry has resulted in dramatic turnarounds and even in Shell the results obtained after the SAP implementation has been positive and the objectives were achieved. Duplagia and Astani said that the integration between functional areas and information system is the primary reason for companies implementing ERP, the same was the case at Shell as the organisation planned to standardise its processes so implemented ERP, there fore the views of Duplagia and Astani could be related to the research conducted above. 5.8- Effectiveness of SAP implementation SAP implementation has been successful in Shell Pakistan and the results obtained have been positive. The moral level of the users has improved and the implementation has resulted in cost saving and reducing complexities in the organisation. Suzanne Gaut, presented a best practice approach for the SAP implementation, the approach was split into two major categories defined as the key individual required in the SAP implementation and the important elements needed in the implementation stage. The details have been discussed above and the best practice support was pretty much followed in Shell Pakistan during the implementation of SAP. Suzanne focused on the fact that the project manager, users of the system, maintenance member, account member, etc should all be involved and participate during the implementation phase to get the desired results. The findings of this report suggests that yes Shell had most of its key members involved during the implementation and the survey undertaken de scribes the attitude of staff towards of change, it says that most of the members were open to change and welcomed the idea of SAP implementation. The line managers were assigned responsibilities in Shell for the SAP implementation and the staffs expressed their satisfaction with their performance and accepted that the managers fulfilled their responsibilities properly and also were keen to provide training and transfer knowledge on the project in order to help the group as a whole and make this project successful. The other part of the practice suggested by Suzanne was including important elements required in the SAP implementation. Few of the important elements were aim and objectives of the project, people expectations, purchasing, operational, financial and contracting strategies, and computer based training etc. Again the case at Shell seemed to be following all these instructions and the management got all the important procedures completed before and during the implementation. The change agent appointed by Shell helped in carrying out the process and helped in selling the idea of change and recorded the vital steps to be understood and carried out. At Shell the control methods were in place to protect the data loss and only authorise individuals were granted access. The use of multiple passwords of ten digits each was made to maintain the integrity. Results obtained in Shell post implementation of SAP were better and the issues of product traceability, reconciliations and flexibility were resolved which was not the case when JD Edwards was in use. The views of Suzanne Gaut are more related to the implementation process carried out in Shell, most of the points presented by Suzanne have been covered by Shell during the implementation.

Extreme Jealousy in Shakespeares Othello, the Moor of Venice Essay

Extreme Jealousy in Othello, the Moor of Venice      Ã‚   Aristotle's Poetics laid out the definition of tragedy: unlike comedy, the purpose of tragedy is not merely to instruct and delight an audience. Rather, its aim is to allow a cathartic release as a result of the heightened emotional state caused by the events of the tragedy. This idea assumes that the average person can experience these intense emotions vicariously. In Psyche and Symbol in Shakespeare , Alex Aronson contends that the characters in Shakespearean tragedy have the power to affect us because they tap what Carl Jung called the collective unconscious , the "omnipresent, unchanging, and everywhere identical condition or substratum of the psyche per se" (14). Othello, the Moor of Venice, attempts to achieve the requisite level of harrowing emotion by treating the audience to a spectacle of passionate delusional jealousy and the murder that follows. The playwright, according to Rolf Soellner, framed his Moorish general?s fall in terms of Passion warring with Patience (both 'the will' and rationality of action) -- drawing on the prevalent Senecan and Stoic conventions of the baroque period in which he was writing (239-58). Unfortunately, the modern tendency to 'psychoanalyze' the words and actions presented in Othello reduces the audience?s experience from cathartic to metaphoric. In either case, the Moor?s over-reaction can be viewed as a lesson counseling against indulgence in the excesses of emotion without a balancing leaven of self-control. As most of Othello ?s fictional characters have been psychoanalyzed in absentia , I hoped to find a reasonable psychological explanation for Othello?s breakdown. The journal American Imago (co-founded by Freud) has publ... ...as truly such a destructive force.    Works Cited and Consulted Aronson, Alex. Psyche and Symbol in Shakespeare . Bloomington, IN: Indiana UP, 1972. Bell, Millicent. ?Othello?s Jealousy.? Yale Review 85 (April 1997): 120-136. Driscoll, James P. Identity in Shakespearean Drama . East Brunswick, NJ: Assoc. UP, 1983. Faber, M. D. ?Othello: Symbolic Action, Ritual and Myth.? American Imago 31 (Summer 1974): 159-205. Holland, Norman N. Psychoanalysis and Shakespeare . New York: McGraw, 1966. Kovel, Joel. ?Othello.? American Imago 35 (Spring-Summer 1978): 113-119. Reid, Stephen. ?Othello?s Jealousy.? American Imago 25 ( Fall 1968): 274-293. Shakespeare, William. Complete Works of Shakespeare . Ed. David Bevington. 4th ed. NY: Longman, 1997. Soellner, Rolf. Shakespeare?s Patterns of Self-Knowledge . N.p.: Ohio State UP, 1972.    Extreme Jealousy in Shakespeare's Othello, the Moor of Venice Essay Extreme Jealousy in Othello, the Moor of Venice      Ã‚   Aristotle's Poetics laid out the definition of tragedy: unlike comedy, the purpose of tragedy is not merely to instruct and delight an audience. Rather, its aim is to allow a cathartic release as a result of the heightened emotional state caused by the events of the tragedy. This idea assumes that the average person can experience these intense emotions vicariously. In Psyche and Symbol in Shakespeare , Alex Aronson contends that the characters in Shakespearean tragedy have the power to affect us because they tap what Carl Jung called the collective unconscious , the "omnipresent, unchanging, and everywhere identical condition or substratum of the psyche per se" (14). Othello, the Moor of Venice, attempts to achieve the requisite level of harrowing emotion by treating the audience to a spectacle of passionate delusional jealousy and the murder that follows. The playwright, according to Rolf Soellner, framed his Moorish general?s fall in terms of Passion warring with Patience (both 'the will' and rationality of action) -- drawing on the prevalent Senecan and Stoic conventions of the baroque period in which he was writing (239-58). Unfortunately, the modern tendency to 'psychoanalyze' the words and actions presented in Othello reduces the audience?s experience from cathartic to metaphoric. In either case, the Moor?s over-reaction can be viewed as a lesson counseling against indulgence in the excesses of emotion without a balancing leaven of self-control. As most of Othello ?s fictional characters have been psychoanalyzed in absentia , I hoped to find a reasonable psychological explanation for Othello?s breakdown. The journal American Imago (co-founded by Freud) has publ... ...as truly such a destructive force.    Works Cited and Consulted Aronson, Alex. Psyche and Symbol in Shakespeare . Bloomington, IN: Indiana UP, 1972. Bell, Millicent. ?Othello?s Jealousy.? Yale Review 85 (April 1997): 120-136. Driscoll, James P. Identity in Shakespearean Drama . East Brunswick, NJ: Assoc. UP, 1983. Faber, M. D. ?Othello: Symbolic Action, Ritual and Myth.? American Imago 31 (Summer 1974): 159-205. Holland, Norman N. Psychoanalysis and Shakespeare . New York: McGraw, 1966. Kovel, Joel. ?Othello.? American Imago 35 (Spring-Summer 1978): 113-119. Reid, Stephen. ?Othello?s Jealousy.? American Imago 25 ( Fall 1968): 274-293. Shakespeare, William. Complete Works of Shakespeare . Ed. David Bevington. 4th ed. NY: Longman, 1997. Soellner, Rolf. Shakespeare?s Patterns of Self-Knowledge . N.p.: Ohio State UP, 1972.   

King Solomons Mines Essays -- Henry Rider Haggard

Henry Rider Haggard sets out to create an epic tale of courage, a breathtaking drama that attempts to capture, within its limits, the universal spirit of adventure. He appeals in particular to the proverbial young male that seeks an audacious inspiration in life by which to model his own. He entices his readers because his motives lie simply in his desire to entertain, to delight, and to enthrall anyone with a prolific imagination. However, this purely entertaining account of an eclectic and adventuresome trio clearly manifests its motives by the simple elimination ambiguity, leaving little or nothing to the whims of infinite interpretation. As it is, everything within the novel seems to have the intention of being taken â€Å"with a grain of salt.'; Haggard knew his audience, a pretentious and nationalistic society bent on world domination or at the very least determined to reduce the rest of the world to nothing more than a means to meet their desires. And with these precepts in m ind, Haggard creates a fantastical tale, taking heed of what is socially acceptable and what is not, all the while maintaining western superiority over the rest of the world.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"The fact of the matter is, that I thought that the best plan would be to tell the story in a plain straightforward manner†¦I cannot help thinking that simple things are always the most impressive, books are easier to understand when they are written in plain language, though I have perhaps no right to set up an opinion on such a matter.'; (Haggard 6).   Ã‚  Ã‚  Ã‚  Ã‚  In this introduction/disclaimer, Allan Quatermain as our narrator, comes clean with his intentions, providing a stabilizing retrospective for the ensuing epitaph. He seems well aware of the vague line between words intended for fiction and those intended for controversy. And by designating the jolly old Quatermain as narrator, Haggard vicariously endear himself to his readers by exuding a simple humility in light of his grander than grand exposà ©, all the while disposing of the pretense intrinsic to most literary works. Haggard, due to the relative sensitivity of his subject matter, has no desire to have his novel the target of unwarranted and unwanted social and literary criticism. In that, he makes certain that he reaffirms his intentions of entertainment rather than controversy. In addition, despite Haggard’s prevalent use of juxtaposition throughou... ... complexion Twala is described as â€Å"Twala the One-eyed, the Black, [and] the Terrible'; (Haggard 118), not coincidentally the only true â€Å"Black'; among them. The plot is action-packed, carried along by one dramatic scene after another in which we as readers are witness to amazing feats of strength, bravery, and guile, leaving little or no time for readers to dwell much on any aspect of the novel except the plot. Haggard even goes so far as to implement a divisive source of comic relief in the form of Good, whom we see deified by the Kukuanas, who delight in the sight of his â€Å"bare legs,'; â€Å"transparent eye,'; â€Å"half-haired face,'; and â€Å"vanishing teeth'; (118 Haggard). By the end of the novel we see all strings tied, imparting a sense of conclusive triumph without controversy. Haggard’s audience gets exactly what it wants, the black evil doers are vanquished; peace, justice, and tranquility are returned to Kukuana land; our deserving white and pseudo-white heroes are the benefactors of the plunders of Solomon’s fabled mines; and we as readers are left thoroughly entertained. Work Cited Haggard, H. Rider. "King Solomon's Mines." 1989. Oxford, New York: Oxford World Classics 1998

Byd Company Case Analysis Essay

1. BYD Company, Ltd. (â€Å"BYD†) is the world’s second largest manufacturer of rechargeable batteries. Exhibit 1 shows that between 1999 and 2001, BYD’s annual sales grew three times – exceeding RMB 1.3 billion in 2001. Based on the first four months of 2002, BYD’s annual sales are expected exceed RMB 1.6 billion in 2002. Founded in 1995 by Wang Chuan-Fu, chairman and president, BYD has built its reputation by becoming the largest Chinese supplier of lithium-ion batteries to cell phone manufacturers. Exhibit 3 shows that by 2002, BYD was among the top four manufactures worldwide – and was the largest Chinese manufacturer – in each of the three main battery technologies (with about 9% market share in Li-ion technology, 31% market share in NiCd technology, and 8% market share in NiMH technology). Despite the presence of large Japanese competitors – including Sanyo, Sony, and Matsushita – in the global market and a large number of local Chinese firms, BYD’s aim to improve the quality of products while keeping the price low started winning it business from foreign companies. By doing so, BYD has positioned itself as a cost leader in the batter industry and has moved towards cost advantage in manufacturing of its products. BYD emphasized on the technology and product development by investing about 2% of the company’s revenue in product and process R&D. Since the development of its first lithium-ion battery in 1997, BYD has made several improvements that increased the cycle life of its products. BYD moved from having no patents as of 1999 to holding scores of patents as of the beginning of 2002. The manufacturing process – in terms of sequence of steps – at BYD was similar to that at the competing Japanese firms. However, Japanese firms had most of the processes automated and had more dry-room space. This kind of set up needed greater investment in capital equipment and accounted for an annual capital expenditure five to ten times more than that at BYD. The biggest threat to BYD’s competitive advantage is the tough competition faced from the emergence of nearly 200 Chinese firms in the rechargeable battery market. Like BYD did, these Chinese firms too relied on labor-intense production process. The lack of proper regulations in China allows the competitors to duplicate BYD processes easily. On the other hand, BYD faced a shortage of labor in Shenzhen because of the presence of large number of manufacturers located in that region. At BYD, 95% of the work force on the battery production is young women who have come from smaller villages across China. They would work here for a couple of years before returning to their home villages. As a result of this migration pattern, BYD faced a turnover of 10% to 20% in its manufacturing workforce. 2. The core competencies of BYD are: Battery Technology (by changing the product materials to make them less sensitive to humidity), R&D department, Human Resource Management (providing housing, food, and health insurance to workers, discipline traning, job rotation to reduce monotony, social activities and promotions), cheap labor and Manufacturing process (labor plus jigs equals automation). Of the above mentioned core competencies, battery technology, R&D department, Human Resource Management, and cheap labor are transferrable to the automotive business. However, the manufacturing process – which is not automated – is not transferrable to the automotive business. From the resources perspective BYD should enter the auto industry because acquiring Qinchuan Auto Company offers BYD rare resources such as production permits and land for its new Auto factory, which are significant barriers for entry for new competitors, at a reasonable price. These resources coupled with t he BYD’s transferable resources could result in a successful enterprise. 3. The Chinese auto industry is overall attractive. There is huge growth expected in the Chinese demand for automobiles – from 1 million sedans in 2002 to potentially 6 million by 2010. Given this expected growth in demand for automobiles, several Chinese auto manufacturers had partnered with foreign manufacturers, such as General Motors, Toyota, and Volkswagen to sell their vehicles. As shown in Exhibit 13, the production capacity of major firms in china slightly exceeded 2 million units in 2002, this figure is expected to reach 3.5 million units by 2012 – as shown in Exhibit 14. Yes! The Chinese auto industry is attractive to BYD. Given the expected growth and demand in the auto industry, combined with Chinese government having stopped issuing production permits for new automotive companies, there are very few remaining opportunities to get in to this booming auto industry. Moreover, BYD is getting a good bargain as the assets of the state-owned Qinchuan Auto are being sold at a cheaper price. The state owned auto manufacturers without foreign partners accounted for 25% of auto sales in China. Many of the SOE manufacturers did not even have R&D departments. Because most of the automobile parts were imported, similar models of cars cost more in China than in USA. The existing foreign joint ventures were selling the vehicles at prices that gave them margins of 10% to 20%. Considering the current situation, there is room for low-priced entrants. Wang always dreamt of applying Li-ion battery technology to develop an electric vehicle. Using newer battery technology and assembling it cheaply, the vehicle could be competitively priced and represent a way for China to leap forward in an industry and technology in which it had previously lagged other nations. Wang was also excited about applying BYD’s deep capabilities in process engineering – used so successfully to design new methods of battery production that gave BYD a significant cost advantage over global competitors – to automotive manufacturing. 4. In addition to offering OEMs a â€Å"one-stop† solution for the outsourced manufacturing of their products, BYD should also acquire Qinchuan Auto Company. Because of the huge potential for the automotive industry in China and very few available opportunities, this is the right moment for BYD to enter the automotive industry. As Qinchuan Auto Company already has a name in the market, with its flagship product Flyer, BYD should continue selling Flyer along with other upgraded new models of car. BYD should also invest in automating the manufacturing process and R&D department. It should ensure that most of the auto parts are internally or locally manufactured in order to keep the costs at minimum and margins high. The company should invest heavily in infrastructure needed to cater to the foreseen demand in the Chinese automotive industry. It should invest heavily in acquiring quality manpower by offering them good salaries, perks etc†¦. If capital is a challenge, then BYD could partner with foreign manufacturer and provide them a platform to sell their products in the Chinese automotive industry. This will give BYD enough time to closely analyze the Chinese automotive industry and take necessary steps.