Monday, December 9, 2019
Question: What is the reason for using severance packages for employer/employee separation. Answer: Introduction Regardless of the reason for separation, it is the responsibility of human resource department to end employment. As Chhaochharia Kumar and Niessen-Ruenzi (2012) stated that, if employee/employer relation ends up in a wrong manner then an employee can say adverse things about the company to the potential customers. In this assignment, the role of severance packages in post-employment procedures has been analyzed. The parameters of employment packages that constitute a need for severance agreement have also been analyzed in this assignment. Evaluation the reason for using severance packages for employer/employee separation As Bieling (2012) stated that employee turnover always becomes expensive for an organization. Poor management can increase the turnover rate of a company. According to US Bureau of statistics, the turnover rate of employees enhances the cost of business by 33% (Cadman, Carter Lynch, 2012). As Fiss Kennedy and Davis (2012) stated that, there 12 major reasons for which an ethical or skilled employees leave an organization. They are such as the rude behavior of employers, work-life imbalance, misalignment of employees, lack of feedback and coaching, lack of decision making capability and lack of opportunity for growth and promotion. On the other hand, there are some critical conditions have been found for which an employer has to terminate an employee. One of the primary reasons is inadequate job performance. Sometimes employers have to terminate employees as they are not able to meet the necessary aspects of a job. As Larkin Pierce and Gino (2012) stated that, sometimes hostile business condition forces employers to terminate employment relations. Unacceptable behavior of employees such as revealing company secrets to outsiders, sexual harassment, verbal or physical threatening and excessive absenteeism are the leading causes of employment termination. In order to retain a good relationship with all employees, it is a good business decision to provide all employees with severance packages, regardless of the reason for employer/employee separation. Wal-Mart is an organization that endorses post-employment obligations. This agreement of Wal-Mart is known as Post-termination agreement (Martin Scarpetta, 2012). According to this agreement, a transition payment is given to ex-employees during the termination period. However, transition payments will not be given to employees if they violate any Wal-Mart policy. According to the US Equal Employment Opportunity Commissions (EEOC), there are various types of severance packages that need to be given to employees. They are such as unused leave credits, health and life insurance, health and accident benefits, pension credits and supplemental unemployment benefits (Bieling, 2012). As Larkin Pierce and Gino (2012) stated that, no federal law can force an employer to provide employee severance packages. It depends on upon the agreement between employees and employers. There are some factors on which the severance package depends. They are such as: Length of employees tenure with the employers Causes for which employment relationship ends such as misconduct of employees, company downsizing Financial condition of employers (bankruptcy or economic growth) It has been found that there are mainly two types of severance packages given by organizations. One is unconditional severance packages, where the company provides some advantages to ex-employees regardless of the reason for employee termination (Martin Scarpetta, 2012). Another severance package is given by companies depending on the relationship with employees. The advantage of unconditional severance package is that it can increase the reputation of the company in the mind of employees. However, it can raise the cost of the company unnecessarily. As Larkin Pierce and Gino (2012) stated that, in conditional severance package is that, it helps to increase employee commitment towards the enterprise so that they become eligible to receive severance packages. The major flaw is that, if an ex-employee does not receive a severance package, then he can say wrong things about the company to the potential customers. Determination of the ability of severance packages to safeguard an organizations competitive advantage and sustainability Voluntary severance packages are offered by organizations at the time that can provide benefit to the company by reducing the workforce and the cost of benefits and salaries. As Larkin Pierce and Gino (2012) stated that, severance packages are like "Golden handshake," where employee and employers both get benefitted. It helps the company to recruit new and talented employees with low wages instead of giving high salary to old and inefficient employees. It will help the company to retain its sustainability in the market by strengthening its workforce (Bieling, 2012). Severance package provides executives a sustainable package upon termination. Severance package includes different types of agreement between employers and employees, which make employees financially shackled that can motivate them to stay with companies for longer period (Larkin, Pierce Gino, 2012). It reduces the turnover rate of an organization and provides a competitive advantage in the market. Conclusion After analyzing different type of severance packages, it has been found that companies provide financial incentives to employees depending on the relationship between employer and employees. It helps to enhance the workforce of the organization by retaining and introducing skilled employees within the organization. Reference list Bieling, H. J. (2012). EU facing the crisis: social and employment policies in times of tight budgets.Transfer: European Review of Labour and Research,18(3), pp.255-271. Cadman, B., Carter, M. E., Lynch, L. J. (2012). Executive Compensation Restrictions: Do They Restrict Firms Willingness to Participate in TARP?.Journal of Business Finance Accounting,39(7Ã ¢Ã¢â ¬Ã 8), pp.997-1027. Chhaochharia, V., Kumar, A., Niessen-Ruenzi, A. (2012). Local investors and corporate governance.Journal of Accounting and Economics,54(1), pp.42-67. Fiss, P. C., Kennedy, M. T., Davis, G. F. (2012). How golden parachutes unfolded: Diffusion and variation of a controversial practice.Organization Science,23(4), pp.1077-1099. Larkin, I., Pierce, L., Gino, F. (2012). The psychological costs of payÃ ¢Ã¢â ¬Ã forÃ ¢Ã¢â ¬Ã performance: Implications for the strategic compensation of employees.Strategic Management Journal,33(10), pp.1194-1214.
Monday, December 2, 2019
Thank you for writing our consultancy in regards to the predicament facing you and your team at the Radicor Hotel Darling Harbor Sydney. I understand this time must bring you considerable angst; especially considering Simcom- the partial owners- intend on divesting from one of her hotels: the Radicor being one such possibility. As such, I have taken this case under my personal consideration. You will find at the end, an appendix (Reference List) for any sources which I have used to underline criteria or feedback regarding the adverse review received by your premium restaurant- The Abbey. This letter touches on what I had advised to the Managing Directors and Executive Chef Marcus Vesty for the first twenty four hours upon receiving the review; but, also delves deeper into the issues facing not only the Abbey, but the Radicor Hotel Darling Harbor as well. Unfortunately some of the resources materials you have sent my firm seem to be lacking in some areas, therefore my comments will make do with the data provided. We will write a custom essay sample on Radicor Hotel Darling Harbour or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page I will go into these areas later below. First an outline of the presenting issue. The Radicor Hotel at Darling Harbor Sydney prized itself as a premium luxury hotel, focusing on the idea of paramount customer service coupled with paramount customer satisfaction. On the back of that premise Marcus Vesty opened The Abbey in 2009 to match that service quality excellence. To reiterate my twenty four hour contingency plan, first the primary stakeholders need to be identified. In the case of the Abbey and the Radicor the primary stakeholders affected by JohnTrevallinÃ¢â¬â¢s ill-fated review, are Marcus Vesty and the Radicor Hotel Darling HarborÃ¢â¬â¢s Management and Operations team for this particular joint-profit venture. Let me get this out of the way Tom, even if the review by John Trevallin is particularly harsh and at some points droll; he is by no means a novice food critic as Miranda Caustin outlined in her interview. Despite your food and beverage manager, Richard GohÃ¢â¬â¢s, view of Trevallin being a hack, this review is not personal. As you suspected there is evidence to suggest that standards have slipped since 2009, these will be touched on shortly. It is therefore crucial to reflect upon the original concept set forth by Marcus Vesty in 2009 upon the opening, for the twenty four hours post TrevallinÃ¢â¬â¢s review. Additionally, the active involvement of both stakeholders mentioned above, the Management and Operations team at the Radicor and Marcus Vesty, can we attempt to hemorrhage residual bleed effects from the review and put into action an immediate short-termed contingency plan. Chef Marcus VestyÃ¢â¬â¢s initial concept was to bring a world class fusion, French-Asian, cuisine into a quality five star establishment. This aimed, from what I understand, at introducing a contemporary cuisine merging palates from the East and the West for guests wanting a luxury experience. From the review by Trevallin, I gather this concept floundered. As such we must focus our first twenty four hours on damage control. Let us assume that everything Trevallin has written is true for this one day period, our next step is to minimize damages to the reputation of the Radicor Hotel and The Abbey. The first step in our contingency plan is to get everyone on the same page. Ann Johnson (2013) of Demand Media outlines that the purpose of damage control is to ensure that the new public information, despite the fact that itÃ¢â¬â¢s negative connotations, brings about a positive opportunity for the organization. This is what needs to be done not only for the Abbey but the Radicor Hotel. If we play our hand correctly we have an opportunity to bring back and even surpass previous standards. Once people understand this we may move on. The second step in our damage control plan is to delegate a spokesperson to address the media, perhaps even Trevallin himself. Our spokesperson here must do several things; they must be transparent regarding the problem, they must know whom to address (in this case various food critics and relating social media), and they must deliver a statement outlining the criteria from which the problem may have arisen (Bitesize PR 2013), and lastly plans to rectify the issue. This short term action yields long term benefits. Some of the problems which may be addressed in the PR statement can be seen in my twenty four hour plan and here as well: Ã¢â¬ËHerewith appear to be the most pressing matters; one, infective and inexperienced entrepreneurial leadership. Two, the dialectic nature between front of house and back of house, and three, a lack of general training motivation and direction in original concept. Ã¢â¬â¢ Now I shall divulge onto you my complete analysis of the information that you have provided to me. Examining the bottom line factor (Weber Savitz 2006) the fact that Abbey lost its spot from being the second highest revenue earning outlet in 2009 to the 4th in 2011 is alarming in itself. A rough two hundred thousand dollar loss in takings, in two years, should have sounded the alarm bells for the Managing Directors and more importantly Marcus Vesty. This ties in significantly with the fact that the concept from opening of the Abbey in 2009 has since wallowed. The entrepreneurial and perhaps managerial aspects of the Abbey have waned resulting in poor standards of service (Parsa et al. 2005). This is reflective almost in its entirety upon the leadership of Executive Chef, Marcus Vesty as he is the owner. It is of utmost importance that the Executive Chef of any restaurant, especially in a luxury hotel, shows passion and commitment throughout ensuring that standards remain constant (Ramsay 2008: UKTV 2003). The loss of any cognizance relating to those standards is detrimental to the reputation of the primary chef and the hotel from which they operate. I agree with Richard that food critics should be aware that the Executive Chef is not always present in premiere restaurants; nevertheless customers attend Marcus Vesty at the Abbey not his Sous Chef- Dan Tambling at the Abbey. Case studies examining how other world class chefs like Gordon Ramsay earn several Michelin stars while writing, producing and acting may prove necessary and prudent for Marcus if he wants to maintain the repute of the Abbey and by extension- himself. Taste tests measuring standards of the Chefs prior and post openings are commonplace to ensure that the recipes served are exactly those which described or designed by the executive chef (UKTV 2003). Despite the fact that MarcusÃ¢â¬â¢ immediate staff enjoys working with him; this is a luxury business and should be treated as such. The standards of a luxury hotel are also reflected in the price list. Here is where a menu and wine list of the Abbey would have been useful. Regardless this is what I can deduce; Trevallin suggested that the wine list in particular was not reflective of the wine quality but was priced too high. The average expenditure at Darling Harbor is between 89$ to 120$ at restaurants, it would be beneficial (if the wine list is not of premiere quality) to reduce costs of wine reflecting its quality to make it seem more reasonable. From the food quality and satisfaction survey I can only deduce breakfast and drinks; surveys should include lunch and dinner surveys as well (something to think about to for future surveys). Secondly, the lack of leadership has led to discord between the front of house provided by the Radicor and MarcusÃ¢â¬â¢ MatrieÃ¢â¬â¢d Hotel and kitchen staff. Miranda Caustin pointed out that Trevallin is a well-known critic; as such, it is the responsibility of the MatrieÃ¢â¬â¢d Hotel to inform the chefs and the wait staff. The service Trevallin received, even though Ã¢â¬Ëwell oiled,Ã¢â¬â¢ lacked a personal touch. Johnson (2004) surveyed that guests feel most valued, when the business conducted between them and an organization is seamless and easy, and especially when there is an addition of personal tailored flair. This lack of communication is excusable in mediocre restaurants but not those which claim to be one of AustraliaÃ¢â¬â¢s premiere fine dining establishments. Additionally poor wait staff performance could be attributed to confusion between the several guidelines and manuals you sent me. For example the Ã¢â¬ËAbbey Front of House ProcedureÃ¢â¬â¢ states to address guests along the lines of , Ã¢â¬ËHi my name is Joe welcome to the Abbey RestaurantÃ¢â¬â¢ opposed to the other guides which once again teach wait staff how to greet a guest, albeit more reflective of a fine dining service, in a different manner. Why are guides from the same establishment teaching two different ways to greet a guest? Tom, your Food and Beverage department must realize that in the contemporary workspace, casual work is increasing (Steers Sharipo 2004), wait staff are hugely reflective of that casual work environment. This once again ties into a lack of leadership by Marcus, but it would have been far more effective to have highly trained staff tailored to the vision set forth by Marcus, including food and beverage reflective of the Abbey. What Trevallin outlined is reflective of the haphazard and sometimes contradictory training guides that you have sent me, and their resulting performances coupled with poor leadership. In new light, we can use TrevallinÃ¢â¬â¢s review to spin a positive light for both the Abbey and Radicor. Darling Harbor at Sydney received over twenty five million visitors. Which has only grown since 2009, it would be safe to assume this growth is an ideal market for the Abbey and the Radicor. For the data you sent me, I can outline that the Abbey had missed its target. Additionally the reviews you sent me were not dated as such, it was difficult for me to deduce when a drop in service standards was seen; however, TrevallinÃ¢â¬â¢s review enables us to redefine the RadicorÃ¢â¬â¢s concept. The RadicorÃ¢â¬â¢s philosophy of team empowerment is clearly evident in the loyalty between staff (which I gathered from the interviews). However, this type of Ã¢â¬ËT. E. A. MÃ¢â¬â¢ approach, albeit empowering staff, makes no mention about quality or customer care. For instance the Ritz CarltonÃ¢â¬â¢s (The Ritz-Carlton Hotel Company 2013) motto is Ã¢â¬ËWe are Ladies and Gentlemen serving Ladies and Gentlemen. Ã¢â¬â¢ This concept empowers staff and suggests extravagance for guests. The same must be applied to the Radicor and the Abbey. Without having a clear concept a restaurant shall surely fail (Ramsay 2007: Ramsay 2008). It is therefore imperative that Marcus call in his reins and address issues of concept and wait staff at the Abbey. Additionally it may prove useful to redesign the original concept using a market analysis of competitors such as the Lobby Lounge or The Promenade at Darling Harbor. The market analysis may also reveal that for the 18-31 age demographic which visits Darling Harbor, French Asian cuisine is not the most appealing. It could be advantageous to change cuisine to reflect local Australian produce resources (Ramsay 2007), perhaps seafood. In conjunction having a celebrity chef such as Marcus around, post re-launch will be in itself attractive and this could be used promotionally: Ã¢â¬ËDinner for two with Marcus Vesty at the Abbey, Radicor Hotel Darling Harbor. Ã¢â¬â¢ Additional quality checks from Marcus can ensure that he maintains his standards whilst engaging in other activities. To conclude, Marcus Vesty, by repute can be the RadicorÃ¢â¬â¢s saving grace; however, it is vital that you understand that the Abbey does not exist without the Radicor Hotel. If these changes cannot be made, there are other up and coming chefs and veterans who would jump at the chance and locale of the Radicor Darling Harbor. It may be necessary to cut your losses to save the Radicor if Marcus is not on board with these indispensable changes. It is seven times more cost effective to retain one loyal guest than to find new ones (Laslhey Morrison 2000). One should keep this in mind if changes cannot be made. I would be very interested in what Marcus has to say to your subsequent feedback. This is an opportunity to start fresh, and restore the Radicor and the Abbey to their prime. Finally Tom, I implore you to see reason, TrevallinÃ¢â¬â¢s review is largely incontrovertible, action with haste is necessary. Your Friend,
Tuesday, November 26, 2019
Horizon offshore Inc Horizon Offshore IncI General Information:A. Company NameHorizon Offshore IncB Company's IndustryHorizon Offshore, Inc. is a leading provider of marine construction servicesto the offshore oil and gas Industry.C. Choice of this companyJust a friend of mine had recommended this company.D. Company trade LocationCompany trades at NASDAQ NM.E. The ticker symbol of the company.Ticker symbol is HOFF.F. Auditing firmArthur Andersen LLP, Houston, Texas.G.Information about the website1. The following information are provided in the website such as The Horizon news, about the company and its operations, the press releases, Investor relations which consists of the share holder information and the transfer agents address, corporate overview and the SEC filings (8K,10K and 10Q).2. Website Address:www.horizonoffshore.com.3. Website Print out:Horizon Offshore, Inc. provides marine construction services to the offshore oil and gas industry around the world.Company year-end-party - 08The Company's fl eet is used to perform a wide range of marine construction activities, including installation and burial of marine pipelines with conventional 'S' pipelay and "reel" pipelay methods, derrick barge operations for installation of new and abandonment of old oil and gas producing facilities.Horizon's mission is to pursue operational excellence while maintaining the highest regard for the management of health, safety and environment (HSE) and quality. In all aspects of our work, we provide high quality, industry recognized marine construction services throughout the world.Recent Horizon News02/26/2003- Horizon Offshore to Present at Raymond James Associates 24th Annual Institutional Investors Conference01/22/2003- Horizon Offshore Names Additional Board Member01/13/2003- Horizon Offshore Names New DirectorSearch | Disclaimer | Web Policy | Questions/Comments |Copyright Ã © 1996-2002Horizon Offshore, Inc. All rights reserved.Company EnvironmentA. Article about the company and its indust ry.Article1:1. "Horizon offshore wins Gulf Of Mexico Pipeline contract from Williams." (10/17/2002), www.oilworks.com/new/i102102.htmlHorizon Offshore Inc is a leading provider of marine construction services to the offshore oil and gas industry. Operations are concentrated in the shallow deep water ranges of U.S Gulf of Mexico, central and South America, with strategic expansion into other international areas. Horizon offshore of Houston, Texas has been awarded a contract by Williams's oil gathering to install 50 miles of oil pipeline in the united states of gulf of Mexico for the mountaineer shallow water pipeline system, which is the part of the devils tower project being constructed by Williams.Horizon offshore decided to utilize one of their largest vessels Lone Star horizon and Pecos horizon for pipelining. This will be installed in water depths ranging from 8 to 270 feet. the work started in the fourth quarter of 2002 and scheduled to complete during the first quarter of 2003 .Gulf of Mexico demonstrates the company's ability to capitalize and benefit from growing deep water field development, by performing related shallow water work. Horizon's stellar track record frequently makes them marine construction contractor of choice by its customers for longer, high profile project of this type.Article2.2. "Horizon offshore announces International certifications" press release(9/16/2002), horizonoffshore.com/pressreleases/pressrelease.asp?id=69Horizon offshore also called HOFF announced its achievement of two internationally recognized certifications. Norwegian classification society Det Norske Veritas (DNV) certified horizon with occupational health and safety assessment series management system standard OHSAS 18001.This certification is designed to minimize the risk of accidents and near-miss incidents that employees and other parties may encounter while participating in work-related activities.The second certification was received by DNV to international qu ality management system standard ISO9001:2000 for its activities in Houston and Southeast Asia marine constructionm.Compliance with this certification is expected to enhance customer satisfaction by demonstrating horizon's ability to consistently provide products meeting customer and applicable regulatory requirements.The company is mainly involved in performing wide range of marine construction activities, including installation of marine pipelines to transport oil and gas and other sub sea production systems.The industry conditions and volatility, prices of oil and gas, the company's ability to obtain and the timing of new projects reflect the actual results. Obviously horizon has grown up to level where it reached the depths of the marine construction.B.Company Analysis:Horizon offshore, Inc is a leading provider of marine construction services to the offshore oil and gas industry and was established in the year 1989 with around 545 employees, including 399 operating personnel an d 146 corporate, admisnistrative and management personnel. Operations are concentrated in the shallow to deepwater ranges of the US Gulf of Mexico, Central and South America with strategic expansion in to other international areas.Horizon.The company's fleet consists of thirteen vessels, twelve of which are operational. The company established a joint venture with Cal Dive International, Inc to participate in the ultra deep water market. The primary services the Company provides include installing pipelines to transport oil and natural gas, providing pipelines, hook-up and commissioning services and installing production platforms and other structures and then salvaging them at the end of their life cycles.During 2001, the Company laid 126 miles of pipe of various diameters in various depths. In 2001, the Company performed a total of 72 pipeline construction contracts, and installed or removed 30 offshore platforms. The Company continued its international expansion efforts with the purchase of the Sea Horizon in July 2001, a combination 360-foot derrick pipe lay barge. After completing upgrades and modifications, the Sea Horizon became the Company's largest combination barge capable of performing turnkey projects in remote locations with a single mobilization. The Sea Horizon was mobilized in February 2002 to perform a pipeline and platform installation project in Indonesian waters. This project, involving over 10.6 kilometers of pipe at water depths of 175 feet, and a 450-ton, four-pile platform installation, marks the Company's entry into Southeast Asia. The Sea Horizon is scheduled to upgrade its lift capacity to 1,200 tons in the latter part of 2002. The Company intends to continue operating the vessel in Indonesia and Malaysia, as well as other areas in Southeast Asia, such as Thailand and Vietnam. The Company's pipe lay vessels employ conventional S-lay technology, which is appropriate for operating on the United States continental shelf and in many inte rnational areas. For larger pipe burying projects, or where deeper trenching is required, the Company uses the Canyon Horizon, the dedicated pipe bury barge.For the nine months ended 9/30/02, revenues fell 2% to $195.4 million. Net income before extraordinary item decreased 56% to $4.8 million. Results reflect higher contract revenues from the projects in Mexico, offset by a $2 million loss due to a fire. The major competitors for this company are Atlas Pipeline Partners (APL) and Atwood Oceanic, Inc. (ATW)The marine construction industry is highly competitive .Competition is influenced by factors such as price, availability and capability of equipment, personnel, reputation and experience of management. They currently compete with Global industries, Ltd., Torch Offshore, Inc and a few other smaller contracters, and the competitors for the installation and removal of production platforms are offshore specialty Fabricators, Inc.C.Plotting Stock prices:IV: Balance sheet and Income sta tement analysis:A. Balance sheet:1. There are two types of stocks reported on the balance sheet they are the Common stock with a par value of 35000,000 and preferred stock of 5000,000.2. The number of shares that are authorized are 24244598, the number issued is 19,869098 and the number of outstanding for each year is3. The Accounting equation is A=L +E393584=207894 + 185690Beginning balance: Assets = Liabilities + Equity239425=135390 + 239425Ending Balance: Assets = Liabilities + Equity393584= 207894 + 3935844. The inventory has increased from last year to this year5. The company's largest asset is the company's property and the equipments (6 vessels)B.Income Statement Analysis:1. The change in the cost of goods sold is 237,175 and he Gross Margin from Last year to this year is2. The net income from last year 2000 is $6374, and 10,693 in the year 2001,Hence the net change in the net income is 43193. The largest operating expense is the selling general and Administration expense whi ch is 13,7714. The company has one revenue account.C.General1. The amount of dividends the company paid last year is 95,838 in 2001, and 16,581 in the year 2000.This change is due to the change in the net income from last year to this year.2. The 3 items of information that I learned from reading the footnotes are the Accounts Recievable, Notes payable and the Dividends.V. Ratio Analysis:Return on Assets: This is a profitability ratio that measures how efficiently the company uses assets to produce profits.The Return on Assets can be calculated by: Net Income before taxes / Total Assets.$16,078 / 393584 = .041 or 4.1%The company has a low return on assets.Total Asset Turnover: A profitability ratio that indicates the amount of revenues produced for a given level of assets used.Total Asset turnover = Sales / Total Assets$272208 / 393584 = .69 0r 6.9%This indicates that horizon produced 6.9% as many dollars in sales as it has invested in assets.Profit Margin after Income taxes: A prof itability ratio that measures the earnings produced from a given level of revenues by comparing net income after income taxes with the revenue figure.Profit margin after Income tax = Net Income after taxes / sales$10,693 / 272208 = .039 or 3.9%Return on Equity: A profitability ratio that measures the after-tax net income generated from a given level of investment by a company's owners.Return on equity: Net Income after taxes / Equity$10,693 / 185690 = .057 or 5.7%Current Ratio: A liquidity ratio that measures a company's ability to meet short term obligations by comparing current assets to current liabilitiesCurrent ratio: Current assets / current liabilities$161745 / 83690 = 1.93 to 1.This indicates that Horizon had $1.93 of current assets for every $1.00 of current liabilities at the end of 2002Quick Ratio: A liquidity ratio that is similar to the current ratio, but a more stringent test of liquidity, because only current assets considered to be highly liquid are included in the c alculation.Quick ratio = Cash + Receivables + Marketable Securities / current liabilities.$7864 + 52431 + 0 / 83690 = .72 to 1Net sales to working capital ratio: A ratio used to measure the level of sales generated from a given level of working capitalNet sales = Sales / Current assets - Current liabilities$272208 / 161745 - 83690 = 3.487 to 1This figure suggests that in 2002 the horizon generated $ 3.48 in sales for every $ 1 of working capital it had at the end of 2001Inventory turnover: A liquidity ratio that indicates how long a company holds its inventoryInventory turnover = cost of sales / inventory$237175 / 1705 = 13.9 times365/13.9 = 26.25 daysDebt ratio: A solvency that indicates what proportion of a company's assets is financed by debtDebt ratio = Total liabilities / Total assets = 207894 / 393584 = .53 0r 53%Total liabilities to Net worth = A solvency ratio indicating the relationship between creditors claims to a company's assets and the owners claim to those assetsTotal liabilities to net worth = total liabilities / net worth83690 / 185690 = .451The horizon has $ .451 of debt for every $1 of equity.
Saturday, November 23, 2019
Check Out Our Tests and Quizzes Check Out Our Tests and Quizzes Check Out Our Tests and Quizzes By Daniel Scocco We already published a bunch of multiple choice tests and quizzes in the past. Some were published years ago, though, so we decided to compile a list with all of them. Make sure you havent missed any. Well be adding new ones in the near future, so stay tuned. Multiple Choice Tests Vocabulary Test 1 Spelling Test 1 Grammar Test 1 Vocabulary Test 2 Quizzes Quiz About Emphasis Quiz About the Comma Quiz About Parallel Construction Not only but also Quiz Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the General category, check our popular posts, or choose a related post below:Direct and Indirect ObjectsWhat is the Difference Between Metaphor and Simile?Grammatical Case in English
Thursday, November 21, 2019
ETHICAL DECISIONS IN LEADERSHIP - Case Study Example Therefore, the reader must go only on the sketchy information that is given in the case study. Lael must choose one of three candidates for a promotion. She must make this decision within a few days. There are three candidates for this position. The challenge is that there is no information about the job or the qualifications needed for the job. The reader must help Lael decide the best person for the job. All three candidates have positive and negative issues that may influence their promotion. Lael is being pressured by one manager or another to pick one of the three people; no manager has picked the same individual. The Three candidates are as follows: All the candidates have been "recommended" by someone in upper management. One manager has told her that she should choose Roy. Her immediate supervisor wants her to choose Liz. A third manager wants her to choose Quang Yeh because it will "look good" for him. The person who put her in charge of the decision says that "the wrong decision would not be good, either internally or externally" (Case Study). It is as though everyone wants Lael to choose their person for their own political gains. As an example, her immediate supervisor wants her to choose Liz, not because she is qualified but because she is a female African American. This will look good for the company because she will be the first one to make that level. Another supervisor wants her to choose Roy, not because of his qualifications, but because he has been in the company a long time, has turned down other promotions and now he "deserves" to have the promotion. He infers that if she promotes Roy as a "favor" to him, he "wo nt forget it". This seems to be a threat as much as the first one. Lael is also a good friend to Liz and she has helped her with her child by babysitting and being a friend when her child was in a car accident. To Lael, promoting Liz might meant that she was playing favorites. Part of the dilemma is that
Tuesday, November 19, 2019
Death - Essay Example The hospitals and health care systems have become such an all-encompassing establishment that Ã¢â¬Å"personally witnessed death has become an uncommon event in many Western countriesÃ¢â¬ (Aiken, 2001, p.6). This phenomenon has been viewed as an attempt to Ã¢â¬Å"deny the reality of deathÃ¢â¬ (Aiken, 2001, p.6). All the same, media, especially visual media have been showing vivid pictures and scenes of death so enthusiastically that death has become a daily affair for the viewers (Aiken, 2001, p.6). In this way, death has become a fearsome taboo as well as an enjoyable spectacle, on two extremes of our modern times. In medical terms, it can be said that: When the body dies, cells in the higher brain centers, which are very susceptible to oxygen deprivation, die first. This usually occurs between 5 to 10 min after the supply of oxygen is cut off. Next to die are the cells in the lower brain centers, including those in the medulla oblongata, which is the regulator of respiration, heartbeat and other vital reflexes (Aiken, 2001, p.7). There are other perspectives on death as described by different branches of human thought.
Sunday, November 17, 2019
The Symbols Of The White Buffalo And The Red Heifer Essay Every culture has its own set of norms and beliefs that serve as guide and standard of living for its people. Each culture is being protected and kept sacred by the people and is being passed by generation to generation. Even as the world goes on to its fast changing global trend, although some of the worldÃ¢â¬â¢s ancient cultural traditions have already vanished or at least faded away, some remained strong and were kept, observed and regularly celebrated today. While Greek and Roman mythologies are integrated in the modern culture (such as the names of the heavenly bodies), the legends and myths which main characters are animals can still be traced in the modern cultural traditions held by the people. Two of these examples are the legends of the White Buffalo and the Red Heifer, animals which symbols are held sacred even unto this day. Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã The White Buffalo and the Red Heifer are animals that are held symbolically sacred by the Native Americans and the Jewish people, respectively. While their legends are held by completely different cultures, these animals symbolize quite the same sacred values of hope, change, life and death. Before we can make further comparison of the two different cultures, it is important that we first have to look into the stories behind their cultural symbols. A brief narration of the story of the White Buffalo Woman, which is believed to have been the origin of the symbolic importance of the White Buffalo in the culture of the Sioux or the Lakota tribe, will be briefly narrated here before we will try to extract the symbols deep inside the legend. We will be taking the highlights of the legend from the story as told by John Fire Lame Deer, a man believed to be a Heyoka, and a holy man of Lakota (John Fire Lame Deer, 1967) Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã In one summer, the seven sacred council of fires, called Oceti-Shakowin,of the nation called Lokota Oyate encamped. The chief of the one of the bands (Itazipcho or Ã¢â¬Å"Without-BowsÃ¢â¬ ), Standing Hollow Horn sent two of his men to hunt for food. In a high hill, they came across with a woman, floating with two round red dots of face paint on her cheeks (John Fire Lame Deer, 1967). In John Fire Lame DeerÃ¢â¬â¢s own words: Ã¢â¬Å"She wore a wonderful white buckskin outfit, tanned until it shone a long way in the sun. It was embroidered with sacred and marvelous designs of porcupine quill, in radiant colors no ordinary woman could have made.Ã¢â¬ Ã The woman was identified as Ptesan-Wi, White Buffalo Woman. One of the men had a sexual desire of the woman and tried to touch her but was struck by lighting and was burnt until all was left of him was a Ã¢â¬Å"heap of blackened bonesÃ¢â¬ . Other version of this part says that the young man was eaten by the snakes which were under the feet of the sacred woman and all was his skeleton. The other young man was told to return to camp and tell the Ã¢â¬Å"buffalo nationÃ¢â¬ to prepare for her coming. The chief then ordered the people to gather and prepare for the coming of the holy woman and the medicine lodge with twenty-four poles was made as ordered. After four days, the White Buffalo Woman arrived in the camped, entered the medicine lodge and then taught the people many things. They made an earthen altar (made of red earth) with a buffalo skull. The holy woman then opened the bundle containing the sacred pipe called chanunpa and then taught them how to use it. She also taught them the proper words and gestures of prayer to how to sing the pipe-filling song. The White Buffalo Woman also told them that they are the Ã¢â¬Å"living bridge between the Sacred Beneath and the Sacred Above.Ã¢â¬ She then turned to the stone in the bowl and said, Ã¢â¬Å"Its stone represents the buffalo, but also the flesh and blood of the red man. The buffalo represents the universe and the four directions, because he stands on four legs, for the four ages of man. The buffalo was put in the west by Wakan Tanka at the making of the world, to hold back the waters. Every year he loses one hair, and in every one of the four ages he loses a leg. The Sacred Hoop will end when all the hair and legs of the great buffalo are gone, and the water comes back to cover the Earth.Ã¢â¬ The White Buffalo Woman also told the women that the works of their hands are as great as the warriors, taught them how to fire the hearth and the way the corn and meat should be cooked. To the children she said that they are the most important and most precious ones. As the purest of all tribes, she told Lakota that it was the reason why sacred piper was given to them. Before the White Buffalo Woman left, she told Standing Hollow Horn these words: Remember: this pipe is very sacred. Respect it and it will take you to the end of the road. The four ages of creation are in me; I am the four ages. I will come to see you in every generation cycle. I shall come back to you. The ending of the legendary story might have been the one held symbolically important up to this day. The White Buffalo Woman left the tribe, rolled over and stopped four times. On each stop, the holy woman turned into different colors of a buffalo. First she turned into black, then to brown, to red one and then to a white female buffalo. In John Fire Lame DeerÃ¢â¬â¢s narration, the legend ended this way: Ã¢â¬Å"And from that day on, our relations, the buffalo, furnished the people with everything they needed meat for their food, skins for their clothes and tipis, bones for their many toolsÃ¢â¬ (John Fire Lame Deer, 1967). In the midst of the highly urbanized Western culture, the legend of the White Buffalo Woman is still alive in the culture of the plains tribes in America. Based on the moral value of the story and the economic situations of the native Americans, there is no reason to doubt that the White Buffalo is more than a legend and cultural symbol in the lives of these people. For the poor people of America, the White Buffalo is Ã¢â¬Å"a symbol of sacred life and abundanceÃ¢â¬ (Kagrise, Sarah 2005). The tribes of Lakota, Dakota, Nakota and Sioux regard the white buffalo as an important element of their traditions and prophecies (Schwartz, Stephanie M. 2006). If we are to go back to the legend, we have noted that the White Buffalo Woman left a promise to the nation that she will see them again and that promise is what the Native Americans are still waiting for unto these days. Held as a prophetic sign, these people are literally waiting for the birth of a white buffalo, an omen which signals the beginning of a sacred hoop of life (Kagrise, Sarah 2005). Why should one even expect that in the midst of the highly urbanized American culture, people will be amazed with the birth of a white buffalo and was even named Ã¢â¬Å"MiracleÃ¢â¬ ? On August 20, 1994 a white buffalo was born in Janesville, Wisconsin farm-an event which struck the American people that they rushed to the see the white buffalo with their gifts (Menagerie, Steve). One practical reason that is, if we are to examine the event out of the context of culture and tradition, is that white buffalo is biologically or genetically rare. Buffalos are already considered 1nearly extinct as early as 1893 wherein it is estimated that there had only been 300 buffalos left in North America. Despite the fact that Miracle has changed color from white to blonde on its third year, the people around still continue to see her. On her death ten years after, Miracle left the Native American community shocked. Two years later, another white buffalo was born in the same farm which they named Ã¢â¬Å"MiracleÃ¢â¬â¢s Second Chance.Ã¢â¬ These events were held as significant omens by the Lakota tribe. A spiritual leader of the Teton Oglala Lakota named David Shallow interpreted these omens by critically examining each phase. For Shallow, the name of the second white buffalo is by no means a coincidence because it carries the message of a second chance for all people and since MiracleÃ¢â¬â¢s Second Chance was born during a thunderstorm, Shallow believes that the destruction of evil is near (Shallow, David cited in Schwartz, Stephanie 2006). For the Native Americans, the birth of a white buffalo is the starting point of the healing process, a symbol of hope for the poorest people of the American nation (Kagrie, Sarah). After Miracle and MiracleÃ¢â¬â¢s Second Chance, there were still born white buffalo calves named White Cloud (July 10, 1996, a two-year-old found in South Dakota), Medicine Wheel (May 09, 1996) and Rainbow (April 27, 1996). From here, let us further consider one great prophecy by the Lakota: Ã¢â¬Å"When four white buffalo have been born, then the old ways will return and the earth will be saved. White Buffalo Woman herself, in the myth, promises to return at the end.Ã¢â¬ From Miracle (1994) to White Cloud, Medicine Wheel and Rainbow (1996), there have been four white buffalos born. The prophecy, if we are to examine has already been fulfilled even before MiracleÃ¢â¬â¢s Second Chance was born in 2005. What changes, as salvation suggests, have happened since then are still unclear. Like the White Buffalo, the Red Heifer is also highly regarded by the Jewish culture as sacred and symbolic. Although both the animals came from one family, one can notice that the there are physical differences in these animals that also mark the differences in their symbols to the two cultures. First, their color as Lakota culture regarded white as sacred and holy while the Jewish culture still consider the red heifer holy and sacred despite its being literally red. Another thing is that white buffalo in the culture of Lakota is not allowed to be hunted (their near extinction seem to be the contrary) while the Red Heifer is literally being killed as a holy sacrifice to God of the Jews. Genetically speaking, a White Buffalo is unhealthy, since its white color is due to its being albino while the Jews chose the unblemished, healthy and young rd heifer in order to make the sacrifice pleasing unto the Lord. The ritual of the Red Heifer is Biblical, that is, it is contained or written in the Bible, in the Torah (in the portion called 1Chukat), particularly in the book of Numbers, Chapter 19. The description of the ritual being conducted when the red heifer is being offered is clear and specific in the book of Numbers. Ã¢â¬Å"It is the ritual slaughter of a red cow with no blemish, and the burning of the cow together with cedar wood, hyssop, and red thread. The ashes of this cow are mixed with water and used as part of a seven-day ritual to purify those members of the community who have come in contact with death.Ã¢â¬ It was said that the water to which the ash of the cow have been mixed is the Ã¢â¬Å"Water of ImpurityÃ¢â¬ or what the Jews called, mei nidah (Hammer, Jill). Those who are being sprinkled with such water will become pure while those who have administered in the water will become impure, a process which suggests that the ash of the red heifer makes the impure pure and the pure impure (J. Hammer). In other accounts, the water mixed with ashes is being drunk by sinners for the purpose of redemption (Reb Yakov Leib HaKohain). Before we come to grasp the real meaning or symbol of the heifer, it is first important that we will be able to have a background on how does the offering of the red heifer originated. As quick answer, the ritual of the red heifer came from the Jewish tradition of offering in the Temple of Solomon: Ã¢â¬Å"In the days of the Temple, all who entered it had to be made spiritually clean by being sprinkled with a substance whose main ingredient came from the ashes of a red heifer burned in its third yearÃ¢â¬ (Bronner, Etan 1997). The Temple of Solomon is considered to be the center of the Jewish life despite its destruction by the Romans according to Bronner. For the Jews, the Temple serves as the direct link between the chosen people and God (E. Bronner 1997). This might have been the reason why the significance of the red heifer, as a sacrificial animal in the temple days, still holds relevance in the life of the Jewish people. Going back to the red heifer itself, the red cow represents a change agent (J. Hammer). Consider the cycle of making the impure pure and the pure as impure through the sprinkling of the water with the ashes of the red heifer. If we are to closely look into the process, we can say that the red heifer, though it has been reduced to ashes, served as an agent that allows somebody to change. In the words of Hammer, the red heifer Ã¢â¬Å"brings life into death and allows death to return to life.Ã¢â¬ Who else can make something change as bringing life to death and the other way around? God alone and God is Divine. If the red heifer symbolizes this cycle of change, then the Red Heifer is the symbol of the Divine and therefore, God. It is also important to note that in the Jewish tradition, all the sacraments and religious rituals are done exclusively by the Levites, the family of priests. Having such, the Levites are the ones who act as Ã¢â¬Å"humans who are part of the cycle of mortality and fertility, but who also touch the eternalÃ¢â¬ (J. Hammer). For the Jewish people, even the destruction of the temple, its rebuilding and its final destruction also have something to do with the Red Heifer. The destruction of the temple is regarded by the Chosen People as a symbol of the recreation of their religious life (E. Bronner). Let us remember that the history of the people of Israel have come a long way from being fruitful descendants of Abraham and Jacob, to being slaves in Egypt, liberated by Moses and were promised to have the Land of Canaan. These people have come through their ups and downs all because of their stubbornness. They always go back to their usual sin of polytheism and of worshipping other gods other than Yahweh. Based on these facts, it is not surprising that these people held religious or spiritual rebirth truly important. They recognized their need to cleanse their spiritual lives and their need for a Savior. For the Jews, the Red Heifer and its ashes are the Ã¢â¬Å"prefigurationÃ¢â¬ of the coming Redeemer, the Messiah they have been waiting for (Reb Yakov Leib HaKohain). There few good reasons why the Red Heifer is a sacred symbolic not only for the Jews but also for those who are into the religion of Christianity. Although the Red Heifer only serve as symbol, as opposed to the White Buffalo which birth is believed to be an omen, it embraces realities of humanÃ¢â¬â¢s spiritual life. First, the realities of life and death teach the Jews to exert much effort in making and keeping themselves clean and pure before the eyes of the Lord. This is the only way they believe they can get into the House of God. This belief is evident in the modern Jewish custom of washing their hands in a bowl of water at their doorsteps after they came from the graveyard (J.Hammer). After having the origin and symbols of the White Buffalo and the Red Heifer, it is also important that we have them compared in order to examine which one is symbolically significant unto this day. In his commentary, David Yarrow sees evident and significant similarities in the two animals. First, the White Buffalo and the Red Heifer are both females and both represents fertility, health, hope and abundance. Second, both symbolize the need to live a sacred, holy life in order for human beings to be pleasing or worthy in the eyes of God. Third, both represent changes in the cycle of life and recognize the reality of death, that is, spiritual death in order to be spiritually born again. Fourth, they both recognizes the presence of the Supreme Power and allow that Sacred Entity to rule over the lives of the people. This reality establishes the presence of the link between God as the Creator and humans as creatures. Lastly, both had kept the believers of the culture and the legend waiting-for the redeemer who will bring good tidings to those who are physically and spiritually afflicted. There is however realities in the White Buffalo that somehow made me prefer to believe in the symbolic significance of the Red Heifer. Consider that the biological existence of the White Buffalo is inherently rare. This is because a white buffalo is born albino which gives it its white color. This means that white buffalo is actually an expression of unhealthy birth because albinos do have genetic disorder which make them different from the rest of the specie. Consider also that being unhealthy, white buffaloes do not usually live long as in the case of White Cloud and Rainbow although Miracle lived ten years. With these realities therefore, I can say that the birth of a white buffalo should not be seen as an omen. In fact, the Lakota prophesy of having four born white buffalo after which will mark the near coming of the near end cannot be held solidly true. There have been more than four white calves born around the world and yet the prophecy seemed unfilled so far. Another thing is that the first well-known white buffalo, Miracle, have turned blonde as she grew old. In the case of the Red Heifer I can see that the Jewish culture regard the animal as purely symbolic. Compare to the white buffalo, the red heifer is a common animal in the Jewish culture, although the poor people during the Biblical times cannot afford to sacrifice one. Anther thing is that not all red heifers can be sacrificed because only the female and unblemished and is under 18 months old can be worthy to be sacrificed. There is nothing held miraculous in the birth of the red heifer and thus it poses no significant marker of a time. Unlike the white buffalo, the red heifer does not say something about the near future. This is especially important in the spiritual lives of the people. Without the red heifer saying something about the future, the Jewish people are encouraged to keep their lives sacred at any point of their lives because of the uncertainty of the time when the Redeemer will come. Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã I believe that the Red Heifer is more significant today than the white buffalo. Because it recognizes the realities of life and death and the need to consecrate manÃ¢â¬â¢s life to God, the Red Heifer embraces all cultures, even those who do not literally believe in God. This is because the red heifer reminds us that human beings are mortals and that as spiritual beings, we are in need of also dying from our sinful lives to give way to our spiritual rebirth. Let me borrow the words of David Yarrow, in his analysis of the symbols and implications of the white buffalo and the red heifer in our lives: Ã¢â¬Å"While white buffalo and red heifer portend time to build a Temple, the only way to build a true new Temple on the Mount is to follow the Peacemakers instructions: bury the hatchet, plant a tree and unite. A shrine in Jerusalem must not be just for Jews and Israel, but of, by and for all the peoples of the Middle EastÃ¢â¬âand the WestÃ¢â¬âall the EarthÃ¢â¬ (Yarrow, David). Yarrow stressed that both animals pose a great challenge for all human beings to share our earthly gifts as custodians of GodÃ¢â¬â¢s blessings unto the earth. There should only be just one thing for us to do. Whether we believe in the White Buffalo or the Red Heifer, the existence of our one Creator should be enough to unite all the cultures of the world. Yarrow concluded, Ã¢â¬Å"Harmony needs all things in natural balanceÃ¢â¬âincluding the power of masculine and feminine in church, culture and governmentÃ¢â¬ (Yarrow, David). WORKS CITED Bronner, Etan. Portent in a Pasture? The Boston Globe. April 16, 1997. Retrieved on October 26, 2007 from http://www.championtrees.org/yarrow/holycows.htm Hammer, Jill. The Red Heifer and the Cycle of Life and Death. Retrieved on October 26, 2007 from http://telshemesh.org/earth/the_red_heifer_and_the_cycle_of_life_and_death.html John Fire Lame Deer (1967). White Buffalo Calf Woman Brings the First Pipe. Retrieved on October 26, 2007 from http://www.kstrom.net/isk/arvol/lamedeer.html Kagrise, Sarah (2005). Native American history: the legend and importance of the white buffalo. November 28, 2005. Retrieved on October 26, 2007 from http://media.www.rwcactivist.com/media/storage/paper248/news/2005/11/28/Features/Native.American.History.The.Legend.And.Importance.Of.The.White.Buffalo-1048409.shtml Menagerie, Steves. This is a White Bison. Retrieved on October 26, 2007 from http://users.aristotle.net/~swarmack/bison.html 2Native American Myths. The White Buffalo Woman. Retrieved on October 26, 2007 from http://www.livingmyths.com/Native.htm Reb Yakov Leib HaKohain. Zabbatai Zevi and the Mystery of the Red Heifer. Retrieved on October 26, 2007 from http://www.donmeh-west.com/redheifer.shtml Schwartz, Stephanie (2006). Lakota Spiritual Leader On Wisconsin White Buffalo Calf. Retrieved on October 26, 2007 from http://www.rense.com/general73/whitebuf.htm 1White Buffalo. Retrieved on October 26, 2007 from http://www.native-languages.org/composition/white-buffalo.html Yarrow, David. Holy Cows!! The Unity of Biology and Ecology with Spirit. A Commentary. Retrieved on October 26, 2007 from http://www.championtrees.org/yarrow/holycows.htm