Monday, September 30, 2019

How to Write a Paragraph Essay

Writing a paragraph does not simply involve throwing words into the pool, hoping that it would create something meaningful. One must first create an outline in order to organize the scattered ideas before dedicating words into the paragraph. When writing a paragraph, one must start off with a â€Å"hook† sentence which can attract readers and encourage them to read more. That would be applicable to the introductory paragraph only. The succeeding paragraphs should contain a topic sentence rather than the â€Å"hook† sentence. After every topic sentence, the writer should support it with ideas that are related to the topic sentence’s idea. This actually composes the body of the paragraph. This part of the paragraph should be clear and concise. The writer must not use wordy sentences since it takes up a lot of space. Finally, one must conclude each paragraph by summarizing the ideas into one sentence and creating a transitional sentence which can relate the paragraph to the next. For introductory paragraphs, the last sentence should be the thesis statement of the whole paper. So when writing a paragraph, the writer should always start with an outline to organize his or her scattered ideas. This is where every paragraph should begin.

Sunday, September 29, 2019

Ray Bradbury’s Fahrenheit 451 †A Book Analysis Essay

In his book, Fahrenheit 451, author Ray Bradbury highlights the power and importance of obtaining knowledge through books but decries the impact that technological innovations, particularly the television, pose in stifling intellectual and creative development. As a science fiction book that was first printed in 1953, many readers — particularly literary critics and students — correlate the book to state censorship and subsequent cultural decay presaging the eras following the book’s publication. Indeed, it can be easily gleaned from the main character’s occupation as a book-burning fireman that the book burning per se may be emblematic of   a common situation that most societies have found themselves grappling with – specific stages in nations’ histories whereby basic inalienable rights and freedoms were suppressed. Literary censorship, in particular, has been a recurring theme in many great works of literature. In real life, censorship is something that most governments have resorted to for varied reasons other than as a means of quelling what they categorize as rebellion or insurrection, and in almost every instance, books that echo the sentiments of many great nationalists or radical-thinking individuals have borne the brunt of censorship laws. Some analysts point out that in Ray Bradbury’s book, Fahrenheit 451, â€Å"The book burning is not a government mandated censorship†¦ Instead, it is a society-built degradation of the written word. Society has rejected the black and white messages bound in leather and paper† (Przybyszewski).   The author himself does not dispute this observation. Whether it is art imitating reality or the other way around, Fahrenheit 451 is a successful attempt in making readers — including those who got to read the book generations after its initial publication — ponder on key social and political issues like censorship, even if the author himself had clarified that his novel â€Å"is actually about how television destroys interest in reading literature† (Oleck, par. 1). A lover of the written word, Ray Bradbury hails from humble beginnings in Illinois, which set the stage for his profound yet realistic insights, searing views and cunning overall approach to his subject matter. He was born on August 22, 1920 in Waukegan, Illinois; studied in a Los Angeles High School in 1938, and furthered his education by working nights in the library and pounding away at   typewriter keys and selling newspapers in Los Angeles by day (â€Å"Ray Bradbury Biography†).   It can be noted that Fahrenheit 451, in many ways, pays homage to Bradbury’s Waukegan hometown.   It is in this locality that he developed an enormous and lasting appetite for books and a love for libraries, something which is continually described in his book. As Bradbury himself narrates: From the time I was 9 up through my teens I spent at least two nights a week in the   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   town library in Waukegan, Ill. In the summer months, there was hardly a day I could   Ã‚  Ã‚  Ã‚  Ã‚   not be found lurking about the stacks, smelling the books like imported spices, drunk   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   on them even before I read them (Moran). Based on the author’s personal narrative, one clearly sees how he obtained the characteristic ease in describing to readers a well-stacked library, and how he skillfully let some of his characters express forceful sentiments about books not just as a storehouse of knowledge and cultural heritage of nations, but as instruments to guide man in living and making decisions about the future. Ray Bradbury’s Waukegan roots likewise armed him with first-hand knowledge and distinct style of writing about a specific subject matter as firefighters. As another writer gathering from Ray Bradbury’s musings in writing Fahrenheit 451: Bradbury’s wary respect for fire can be traced back to his Waukegan youth, where he   Ã‚  Ã‚   would pass the firehouse on his way to and from the Carnegie Library and end up   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   writing down his descriptions (Moran). Ray Bradbury’s remarkable style is indeed something which has not escaped discerning book readers and analysts. â€Å"While a lesser writer would have to content himself with beating the reader over the head with description and exposition, Bradbury is able to make his nightmare world real with economy and subtlety. The horror never grabs you by the throat as in a Stephen King novel; instead it creeps into your soul almost unnoticed† (Wright). Content-wise, what American writer Ray Bradbury sought to impress on his readers is the fact that humanity stands to be strangled by the very forces – or trappings of modern living —   that had originally been conceived to make life better. Bradbury makes a very good point in singling out television as the piece of equipment that most people have been overly relying on, and it comes at a very huge price: a stifled intellectual development. Indeed, of all the new modern conveniences or gadgetry the world has ever seen, one medium of communications which remains all-powerful or influential to minds and attitudes of people of all ages is the television. It is evident that Bradbury possessed remarkable foresight in ascertaining early on that people are bound to be enslaved. One of many insightful reviews about Ray Bradbury and his book states: Bradbury’s novel — or novella, really — is an inspired criticism of what we now call   Ã‚  Ã‚  Ã‚   the â€Å"information society,† and the yawning chasm it is creating in our collective soul.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In it he managed to predict with frightening accuracy such current social pathologies   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   as the dumbing down of popular entertainment and education, our growing addiction   Ã‚  Ã‚   to empty sensory stimulation, the rise of random violence among youth, the increasing anomie and alienation among everyone (Wright). Indeed, it takes a meticulous eye attuned to his surroundings for a writer to realistically depict current real-life situations as well as future scenarios. One important point that Ray Bradbury stressed in Fahrenheit 451 is that most of the time, people’s enslavement, whether by societal forces or modern technological advances, do occur from their own volition or free will. â€Å"It’s ordinary people who turn away from reading and the habits of thought and reflection it encourages. When the government starts actively censoring information, most people don’t even bat an eye† (Bradbury 183). It is true, of course, that in the present society, there are many cases of jaded individuals – especially ordinary citizens who wield little or no power to go against the powers-that-be – who initially protest but end up allowing circumstances like government   restraints on media/information to prevail or take place.   It is, however, an inescapable fact that many freedoms, like free speech and expression of ideas through books, are not absolute. This is something that advocates of censorship keep harping on. Introspection will show that in many ways, people, during these increasingly complex times and informational bombardment, do succumb or let government impose controls as the latter may deem morally and socially and politically fit. In doing so, it becomes a clear case of the antagonist turning into an ally. In societies which do a good job of balancing interests and rights, this may be permissible. There are, however, exceptions to the rule. There are people may rant and do nothing, but there are some individuals who even band together to form a coalition or cause-oriented group/association to bat for what they perceive as just. To their minds, the words of 18th century political theorist and philosopher Edmund Burke, of letting evil triumph if good men do nothing, may be ringing loud and clear. Reverting to the other main issue tackled by the book, which is the tendency of people to allow themselves to be enslaved by new technology and turn away from the many virtues of reading books, this is a universal problem pervading modern societies today. Ray Bradbury may have crafted decades ago a concise book about a dystopian society, but its message reverberates up to the present age, when gadget-toting new generations turn to books only when school requires them to, or when a bestselling book-turned-movie or escapist adult novels catch their fancy. In effect, the firemen’s task of burning books in the novel is actually a metaphor for the way a society’s citizens allow themselves, or their knowledge and future, to be stunted.   â€Å"The firemen are rarely necessary. The public itself stopped reading of its own accord† (Bradbury 87).

Saturday, September 28, 2019

Reflections on the Life and Period of King Saul Essay

Reflections on the Life and Period of King Saul - Essay Example The bible narrates that when the Prophet Samuel grew old, the elders of Israel demanded a king for Israel because the sons of Samuel were not walking in the ways of Samuel and also because they need a leader â€Å"like other nations† (1 Samuel 8.5). At first, Samuel attempted to dissuade his people from having a king. Samuel was also â€Å"displeased† and prayed to God. In response, God communicated to Samuel that it was not Samuel’s leadership that the people was rejecting but God’s kingdom (1 Samuel 8.7). God asked Samuel to tell his people what a king would do: draft citizens for army service, get a tenth of the harvest, and turn people to slaves (1 Samuel 8.10-18). However, the people remained steadfast in asking Samuel for a king and God eventually conceded (1 Samuel 8.21). The Israelites wanted a king â€Å"like the other nations† to lead them, go with them, and fight their battles (1 Samuel 8.20). According to the biblical account, God told S amuel that he has chosen Saul to be king and to lead in the delivery of Israel from the Phillistines and God also told Samuel that the cries of the people of Israel has reached him (1 Samuel 9.15-17). Biblical accounts describe Saul as a Benjamite who was the tallest Israelite during his time. In revealing God’s choice for Saul to become king, Samuel reminded the Israelites that God has been protecting Israel and that by demanding a king, they were rejecting God (1 Samuel 10.17-19). It is important to note that the bible reported that Samuel explained to Israel the regulations of the kingship (1 Samuel 10.25) but nowhere in the bible were the regulations of kingship described or documented. Interestingly, when Saul was anointed king, 1 Samuel 12.1-25 told us that Samuel made a farewell speech, indicating that Saul was to fulfil many functions that Samuel used to fulfil. This indicates that in the movement from Samuel to Saul leadership, there was a movement from theocracy to monarchy. At the same time, in that monarchy, particularly in the Israeli monarchy under Saul, religious figures like Samuel continued to play an important role such in 1 Samuel 13, Samuel rebuked Saul and that Samuel continued to play a role in the military affairs of the Saul monarchy. Eventually, however, in 1 Samuel 15, Samuel after declaring earlier or in 1 Samuel 15.1 that he was the one sent by the Lord to anoint Saul as king declared later that â€Å"the Lord has rejected Saul as king over Israel† in 1 Samuel 15.26. Samuel and Saul parted ways and Samuel anointed David to succeed Saul as king (1 Samuel 16.1-13). David entered Saul’s service (1 Samuel 16.13-23). David eventually succeeded Saul as the king of Israel even when the former became the object of Saul’s jealousy and liquidation plots. Saul’s death is recorded in 1 Chronicle 10. III. The Literature on the Life and Period of King Saul In 1928, in an article published in the Journal of Bibli cal Literature, E.G. Kraeling described the â€Å"real religion of ancient Israel† (133). According to Kraeling, Yahweh or God is never compared to a king because God is the king (152). God is the one â€Å"who sits (enthroned) on mount Zion†

Friday, September 27, 2019

Organizational Theories to Enhance the Performance of Individuals and Essay - 1

Organizational Theories to Enhance the Performance of Individuals and Groups - Essay Example From the classical theories, performance could be realized after the division of labor, to develop specialization and departments of different tasks to be carried out by different groups of people. This enhances quality output according to the expected standards. Motivation through monetary means and management functions in enhancing performance are also elaborated. The modern organizational theories put across ways of changing the organizational structure and developing the human potential as effective ways to spur performance. Performance is one critical area that managers should be sensitive towards, so as to benefit the organization. It is a domain that challenges managerial functions and its success or failure extends to be felt in other linked sections of the organization. Hence, the management has to come up with logical and focused initiatives to enhance performance and overcome the challenges in implementation and performance management. Organisations have their authority, c ulture, information and the acquired knowledge, as well as the motivational coordinated mechanisms to achieve their objectives. Often, the organization structure could vary from one another with some working with the formal line of management, while others are less formal; as a result, they differ in hierarchical structures and strictness in compliance to objectives. However, with the current trends of globalization, managers have to be keen and tactical to address the organizations problems in performance and decision making. This is because the markets, productions, sales and distribution in dealing with goods and services have become very competitive. Due to these factors, management has been categorized in different levels to lead in specific sections, such that the coordinated efforts of different managers.

Thursday, September 26, 2019

INTB3000 Essay Example | Topics and Well Written Essays - 500 words - 1

INTB3000 - Essay Example This causes prices to fluctuate. Exports raise money for the exporting country but the amount of money the government makes is low. There are also environmental and cultural issues that cause negativity. Pollution and a loss of cultural identity impose a threat to many developing countries. However, my very biased view was quite challenged when I read about Koffi Annan’s UN program for the 21st century. I was enlightened by the fact that globalization can be used as a tool in alleviating poverty in a poor country. The power of technology can be harnessed to improve agriculture and like the Anglo American corporation, many firms can be socially responsible to employees who are not exactly their fellow citizens. In fact, globalization can make MNE’s help a state or government to provide services indirectly to constituents. A2. As of now, Colorado is also experiencing recession. Many firms have closed due to bankruptcy. Nevertheless, there are still measures that can be done to make globalization work for the said State. Below are my suggestions for the governor. However an in-depth study is required behind each suggestion. A. Economic – Focus on industries that can compete globally. These industries must be innovative, dynamic and must be able to provide good manpower to other companies that need outsourcing. Industry trends must be analyzed carefully so that academe can prepare or train anticipated workforce of the future. ( long-term priority) D. Education – There should be a close collaboration between the industry and the schools. Colorado must be able to match the graduates with the upcoming industry brought about by global companies that may invest in the State. ( long-tem priority) A3 . Indeed, the United States has begun to keep a low-profile in international events. However, it doesn’t mean that it is carrying a big stick. It is just being

Wednesday, September 25, 2019

Business scenario Analysis 06012 Essay Example | Topics and Well Written Essays - 1250 words

Business scenario Analysis 06012 - Essay Example The restaurant was facing lots of problems in the different parts of business. Therefore, this report has produced a set of recommendations for improving the deteriorating condition of the restaurant. The success of the restaurant industry is widely dependent on the different factors. The role of food and service quality, environment of the restaurant, and the price fairness perception has a positive impact on the customer satisfaction and trust. Factors identified in different research provide comprehensive review of the factors that are not doing well in Fabrizio’s restaurant; hence, resulting in declining profits. Therefore, the recommended actions needed to be performed for solving the first problem in hand. The first problem they were facing was related to the menu they serve to their customers. The menu is been the same since the time it starts operations at first place. This menu includes famous English breakfast and some Italian cuisines. This menu was very popular for the tourists in past as well as locals. However, visitors have changed their preferences and going to other restaurants. Especially, those offering other country’s cuisine or traditional Italian food. At first place, Fabrizio’s must initiate the process of including some international cuisines in the menu of their restaurant. The role of food innovation for winning customers and ensuring edge that is not imitable is one of the important ways. As with the change in time, the tastes of the tourists start to change. The tourists are demanding more traditional Italian and international cuisines to be added to the menu of the restaurant along with the previous menu items. Therefore, change in the offered tastes and preferences are important. The innovation can be seasonal such as season in which tourist from certain country are higher in number than innovation shall follow the taste preferences of that country. Also, traditional Italian shall

Tuesday, September 24, 2019

Prevention of Terrorism and Business Continuity Essay

Prevention of Terrorism and Business Continuity - Essay Example The events availed a remarkable case of a widening interdependence of both the private and public sectors in confronting the present-day security challenges. Since the 9/11, the fight against terrorism has been a top political priority for both the government and businesses alike. Governments have a responsibility to prevent and disrupt terrorist attacks, which hinges on coordinated and collaborative relationships between the intelligence, security, and law enforcement agencies. The key motivation has not only been because of the suffering of the victims, but also because terrorist attacks are a direct assault on elemental values of human rights, rules of law, and democracy (Frias, Samuel and White 2012, 483). Terrorism bears a direct impact on the enjoyment of several human rights such as rights to life, liberty, and physical integrity. Terrorist attacks significantly destabilize governments; they also compromise peace and security, as well as social and economic development. One of the prominent themes in the human rights debate encompasses enhanced recognition of the link between business and human rights. The application of the law in relation to the prevention of terrorism often proves to be complex, especially regarding recognition of human rights as outlined by instruments such as European Convention on Human Rights (ECHR) and UN Charter on human rights. Businesses can wield immense power and bear a direct impact on governmental policies and enjoyment of human rights. Businesses bear an obligation to contribute to the promotion and safeguarding of human rights (Ganor 2005, p.149). The preface of the Universal Declaration of Human Rights outlines that all persons and every organ of the society shall endeavor to promote respect for human rights and basic freedoms (Zwitter 2011, p.20).

Monday, September 23, 2019

Great Recession and Job Market Research Paper Example | Topics and Well Written Essays - 2500 words

Great Recession and Job Market - Research Paper Example Because of the huge advancements in technology and the subsequent developments in industrial sectors, it is a fact that job openings are huge in number in many parts of the world. America and Europe are regions which are facing severe manpower shortages in the employment market. For example, the majority of the nursing professionals working in America and European countries are from India, Pakistan or Philippines like countries where manpower resources are surplus. Moreover, America is currently outsourcing a substantial portion of their jobs to Asian countries because of skilled manpower shortage. According to a study, â€Å"More than 1.3 million additional Western jobs will vanish by 2014 due to "the accelerated movement of work to India and other offshore locations† (Statistics Related to Offshore Outsourcing). Jacob (2011) has pointed out that â€Å"There are millions of Americans that have not been able to find a full-time job even after searching hard for an entire year " (Jacob) At the same time, it should be noted that the current recession was not much serious when we compare it with the Great Depression in the decade preceding WW2. However, one of the surprising facts is that unemployment problems were not much severe during Great Depression as in the case of current recession. â€Å"The unemployment rate in the United States was last reported at 9.1 percent in September of 2011. From 1948 until 2010 the United States' Unemployment Rate averaged 5.70 percent† (United States Unemployment Rate). In short, both Great Depression and current recession affected the employment market differently. During Great Depression many graduates were able to land a job due to the scarcity of qualified workers, but in the current Great Recession, there is an abundance of college graduates and the demand for them has gone down immensely because of the availability of cheap labour in other parts of the world in this extremely globalized world. During Great D epression, the number of qualified people was less in number whereas the demand for qualified people was more. In other words or in terms of economics, supply of labour force was not adequate to meet the demands during the Great Depression period. It should be noted that industrial revolutions were taking place across the world during that period and therefore job openings in the manufacturing sector was huge. Population size was not so big during the Great Depression period compared to that in the current Great recession period. Moreover, people were not much interested in getting college education during Great Depression period, as they do now. In short, smaller population size and smaller literacy rates helped the qualified people to find suitable employment during the Great Depression period. However, the case is entirely different during the current Great Recession period. â€Å"The growing population in the country has led to the ratio or percentage of unemployed to increase. It has to be taken into notice or consideration that jobs do not increase with the increase in population† (About Reasons for Unemployment in The US). Even though population growth rates in America are comparatively low to the standards of some other countries, it is a fact that employment opportunities in America is not growing as fast as the population is growing.

Sunday, September 22, 2019

Nursing Indicators Essay Example for Free

Nursing Indicators Essay Nursing indicators are measurable tools used in nursing. The indicators focus on the structure, process of nursing, and the overall patient outcomes of the care received by nurses. The structure of nursing care is based on the education and certifications as well as the skill level the nursing staff has. Process indicators are a way to measure nursing care through assessment, intervention, and reassessment. The overall patient outcomes that are based on nursing indicators are nursing driven. Examples are preventing falls, preventing pressure ulcers with rotating patient in bed, and changing IV’s to prevent intravenous infiltration (Nursing World, 2014). It is imperative to have an understanding of nursing indicators and be used on a daily basis. The nursing indicators could have been helpful in the case of Mr. J. If the Nurse and the CNA had known the importance of repositioning, and preventing pressure ulcers, then Mr. J wouldn’t of had the initiation of the reddened area on his back. Even if the CNA had not had the proper education to recognize the beginning stages of a pressure ulcer. It should have been communicated to the RN and a proper skin inspection/assessment could have been performed. As well as the patient repositioned frequently. A patient should only be in restraints if they are a harm to themselves or others. Frequent toileting, nourishments, repositioning, as well as removal of the restraints are all nursing assessment and reassessment indicators. If the patient is at a fall risk, generally restraints aren’t used. A big nursing sensitive indicator that is apparent is the satisfaction of the patient as well as the patient’s family. The nurse dismissed the concerns and religious beliefs regarding the patient’s Jewish beliefs. Just because the patient is confused, doesn’t mean its ‘okay’ to dismiss the importance of the specific diet ordered. Nursing sensitive quality indicators are an important part of establishing evidence-based practice guidelines.

Saturday, September 21, 2019

Aluminium Presentation Essay Example for Free

Aluminium Presentation Essay Ive done my presentation on Aluminium and will be talking to you about its properties, where its found and its uses and why its the best material for these purposes. Aluminium. Chemical symbol Al. Atomic weight approx 27 Atomic number 13 and electronic configuration 2-8-3. Appearance- pure aluminium is a shiny silvery white material. Down to the molecular level aluminium has a polycrystalline structure where the metal has cooled from different areas of the material where. Where these areas meet are called the grain boundary. This structure gives aluminium its many properties. Density The first thing you notice about aluminium is its relatively lightweight. It has a density of 2,7g/mm3. This is about 1/3 the weight of a piece of steel the same size. Resists Corrosion like many other metals aluminium is very reactive in air and thus a fine layer of aluminium oxide is created on the surface. This provides provides a highly effective barrier to the ravages of air, temperature, moisture and chemical attack. 0.000000635cm Highly reflective Free electrons in the metal absorb the light energy then immediately re emit it.emits 90* of the light that it absorbs. This would not happen if free electrons wernt present. Ductile Aluminium can be bent and shaped extremely easily. This is because of it polycrystalline structure. Along the grain boundaries of the material dislocations in the atoms occur. It is the movement of these dislocations that makes this metal very ductile. This is good for shaping aluminium but very bad for its strength. Strength like many other of aluminiums properties it depends on the purity of the material 99.996 per cent pure aluminium has a tensile strength of about 49 megapascals (MPa), Unlike materials such as steel, aluminium gets stronger as temperature drops. rising to 700 MPa following alloying and suitable heat treatment. Conductance aluminium is one of the best conductors of electricity. Because it is a metal it ontains almost a soup of free flowing electrons which make it very easy for a current to flow through it. Aluminium itself conducts about 63% of that of copper of the same mass. Aluminium is also a great conductor of heat conducting about 220 Watts Occurance Aluminium is the most abundant metal in the earths crust. Only the non metal elements oxygen and silicon are more abundant. The largest deposits of aluminium are found in Australia, Guinea and West Indies. Aluminium does not occur in its pure form but as either an aluminium silicate or as bauxite which consists of aluminium oxide and commonly iron oxide also. As seen in the picture the aluminium ore is a redish colour this is caused by the iron ore mix. Bauxite is produced through chemical weathering of rocks in tropical climate. Extraction The method now used for aluminiums commercial production is the electrolysis. An iron pot, lined with carbon, is charged with cryolite and heated to about 800à ¯Ã‚ ¿Ã‚ ½C by the electric current. For the electrolysis, a bundle of carbon rods is used as the anode, while the pot itself forms the cathode. The oxygen liberated combines with the carbon of the anode to form carbon dioxide, while the aluminium falls to the bottom of the vessel. More alumina is added and the process continued, the molten metal being drawn off from time to time. Uses Aircrafts Mainly because of its lightweight. This feature is utilized by aircraft and can cut the weight down by up to 5 tonnes. This means planes can fly fast and be more economical. This also applies to all transportation allowing increased loading capacity also. Usually it isnt actually pure aluminium because of its poor strength but instead alloys of aluminium which can be as strong as 700 Mpa. Buildings Aluminium is used in construction mainly because of its corrosion resistance. Its is also a very easy material to shaped and mould making it ideal for the uses in construction Electrics Aluminium is a very economical material as an electric conductor and is widely utilized in power transmission cables. Aluminium only has 60% conductivity of copper but weighs a 1/3 as much making it ideal for large power cables. Heat aluminium is about 3 times as thermal conductive as steel. This feature is used in cooking utensils, engines, air conditioners and it is also being used in energy saving equipment such as solar cells. Reflective Because aluminium is reflective of most electric, heat and light waves it is being more commonly used in the insulation of homes. Harsh conditions Unlike steel which gets brittle in cold conditions aluminium get stronger making it the perfect material to use in harsh conditions. Aluminium is now being used on snow-mobiles Cans aluminium is a non toxic material, smooth, easily washable and is hygienic because no germs an grow on it. Also because malleability it can be shaped into any shaped or form making it ideal for packaging Because of aluminiums low melting point approx 600 C it is the ideal material in this age of energy and resource saving to recycle.

Friday, September 20, 2019

Children of parents who misuse alcohol

Children of parents who misuse alcohol Children Of Parents Who Misuse Alcohol Or Substances Introduction It is estimated that there are between 200,000 and 300,000 children in England and Wales where one or both parents have serious drug problems. Research and local knowledge have shown that substance and alcohol misuse in parents or pregnant women can have a significant impact on parenting and increase risk, especially for babies and younger children (Hidden harm 2003). This does not mean that parents who experience substance / alcohol misuse are poor parents. However the impact of substance misuse problems can, on some occasions lead to children and families needing additional support; or in a small number of cases support and multi agency disciplinary action to prevent significant harm. The most effective assessment and support comes through good information sharing, joint assessment of need, joint planning, professional trust within the interagency network and joint action in partnership with families. These guidelines apply whenever there are professional concerns about the wellbeing or safety of children whose parents or carers have substance/ alcohol misuse problems, specifically where these difficulties are impacting, or are likely to impact, on their ability to meet the needs of their children. These guidelines also apply to professionals working with pregnant women who have substance/ alcohol misuse problems, where their partners are known to have substance/alcohol problems or where someone with substance misuse problems is living in a household where children are present. Aims 2.1. To increase the professional’s understanding of the impact of an adult’s substance misuse problems on children’s lives. 2.2. To enable universal and specialist services to improve their identification of children in need where adult substance/alcohol misuse is a problem 2.3. To enhance the provision of co-ordinated services to families in which there are dependant children of parents, carers or pregnant women with substance/ alcohol misuse problems. Principles 3.1. All those who come into contact with children, their parents and families in their everyday work have a duty to safeguard and promote the welfare of children. 3.2. Parents, carers and pregnant women with substance/ alcohol misuse problems have the right to be supported in fulfilling their parental roles and responsibilities. 3.3. A multi agency approach to assessment and service provision is in the best interest of children and their parents/ carers. 3.4. Risk is reduced when information is shared effectively across agencies. 3.5. Risk to children is reduced through effective multi agency and multi disciplinary working. 3.6. While many parents, carers and pregnant women with substance/ alcohol abuse problems safeguard their children’s well being, children’s life chances may be limited or threatened as a result of these factors, and professionals need to consider this possibility. Identifying The Need Of Children, Their Parents Or Carers, Or Pregnant Women With Substance/ Alcohol Misuse Problems 4.1. The birth of any new child changes relationships and often brings new pressures to parents. Agencies need to be sensitive and responsive to the changing needs of parents with substance/ alcohol misuse problems. 4.2. Parents, carers or pregnant women with substance / alcohol misuse problems may have difficulties which impact on their ability to meet the needs of their children, unborn child or new baby. 4.3. The adverse effects of alcohol/substance misuse on children are typically multiple and cumulative and will vary according to the child’s stage of development. They may include fetal alcohol syndrome, failure to thrive, blood-borne virus infections; incomplete immunisation and otherwise inadequate health care; a wide range of emotional, cognitive, behavioural and other psychological problems; early substance misuse and offending behaviour; and poor education attainment. These can range greatly in severity or may often be subtle and difficult to detect. 4.4. There is growing evidence to suggest that children often take on a caring role in families where there is parental drug or alcohol use. In some cases, it is particularly hard for children to cope with one or more parents with drug or alcohol dependency and they need help and support. 4.5. The risk of harm to the child may be reduced by effective treatment and support for the affected parent(s) and by other factors such as the presence of at least one other consistent, caring adult; a stable home with adequate financial resources; maintenance of family routines and activities; and regular attendance at a supportive school. Guidelines For Referral And Assessment For Pregnant Women With Substance/ Alcohol Misuse Problems 5.1 All agencies are responsible for identifying pregnant women with substance/ alcohol misuse problems who may be in need of additional services and support. 5.2. When a professional identifies a pregnant women experiencing substance/ alcohol misuse problems an assessment must be undertaken to determine what services she requires. This must include gathering relevant information from her GP, PDAC, the Midwifery service, in addition to any other agencies involved, to ensure that the full background is obtained about any existing or previous diagnosis, or treatment for mental illness. 5.3. Consideration must be given to the impact and harm continued substance misuse has on an unborn child. Where this assessment identifies that a pregnant woman has substance / alcohol misuse problems a referral must be made to Powys Children’s services for a pre-birth assessment. 5.4. Where the need for a referral is unclear, this must be discussed with a line manager or the Safeguarding Children’s Team. If a referral is not made this must be clearly documented. Staff should ensure that all decisions and the agreed course of action are signed and dated. Section 10 gives guidelines in relation to assessment of risk. 5.5. A pre-birth assessment should be undertaken on all pre birth referrals and a multi agency meeting held to share information. If a pre-birth multi agency meeting is not needed this must be endorsed by a manager and the reason for the decision clearly recorded on the agency’s records. Guidance For Referral To Pdac 6.1. In the case of pregnant women where there is evidence of problematic use of illicit, proprietary or prescribed drugs or alcohol, agencies becoming aware of the evidence should initially discuss the benefits of a referral to PDAC with the individual. If there is agreement referral should then be made to the appropriate area office of PDAC. This referral may be made initially by phone, but should be followed up immediately with a written referral. In the event that the woman is already a client of PDAC it would be appropriate to confirm that the pregnancy is known to them. In the event of a woman refusing to agree to a referral being made it is the responsibility of the agency to consider whether a referral can be made without consent on Child Protection grounds. This would need to be subject of discussions between all the appropriate agencies – Children’s Services, Police, Health etc. PDAC will always be willing to discuss the appropriateness of referral prior to formal contact being made. Guidance For Referral To Powys Children’s Services A referral for an initial assessment to Children’s services must always be made if a parent carer or pregnant woman is considered to have significant substance/ alcohol problems. A referral should be discussed with a line manager. NB If a child is in immediate danger then a referral to the police/social services should be made. Partnership Working Assessment and identification of parents, carers and children’s needs for services is not a static process. The assessment should also inform future work and build in an evaluation of the progress and effectiveness of any intervention. Where more than one agency continues to be involved in a joint assessment or provision of services for parents or carers with substance misuse problems, and their children, regular review dates must be set to jointly review the situation and to ensure that interagency work continues to be co-ordinated. Each agency should document their own actions and responsibilities clearly and also the roles and responsibilities of other agencies. References All Wales Child Protection Procedures Children Act 1989 Children Act 2004 DOH (2000). Framework for the Assessment of Children in Need and their Families. Hidden Harm (ACMD) 2003 Appendix A Guidelines For Professionals For Assessing Risk When Working With Drug Using Parents The following assessment guidelines were developed by the Standing Conference on Drug Abuse (SCODA) [May 1997] to assist professionals in identifying children who may be in need or at risk as a result of parental substance/ alcohol misuse. They should be used as guidelines in the holistic assessment of the family. Parental Drug Use 1. Is there a drug free parent, supportive partner or relative? 2. Is the drug use by the parent Experimental? Recreational? Chaotic? Dependent? 3. Does the user move between categories at different times? Does the drug use also involve alcohol? 4. Are levels of childcare different when a parent is using drugs and when not using? 5. Is there any evidence of coexistence of mental health problems alongside the drug use? If there is, do the drugs cause these problems, or have these problems led to the drug use? Accommodation And The Home Environment 6. Is the accommodation adequate for children? 7. Are the parents ensuring that the rent and bills are paid? 8. Does the family remain in one area or move frequently, if the latter, why? 9. Are other drug users sharing the accommodation? If they are, are relationships with them harmonious, or is there conflict? 10. Is the family living in a drug using community? 11. If parents are using drugs, do children witness the taking of the drugs, or other substances? 12. Could other aspects of the drug use constitute a risk to children (e.g. conflict with or between dealers, exposure to criminal activities related to drug use)? 13. Is there adequate food, clothing and warmth for the children? 14. Are the children attending school regularly? 15. Are children engaged in age-appropriate activities? 16. Are the child’s emotional needs being adequately met? 17. Are there any indications that any of the children are taking on a parenting role within the family (e.g. caring for other children, excessive household responsibilities etc)? Procurement Of Drugs 18. Are the children left alone while their parents are procuring drugs? 19. Because of their parent’s drug use are the children being taken to places where they could be â€Å"at risk†? 20. How much are the drugs costing? 21. How is the money obtained? 22. Is this causing financial problems? 23. Are the premises being used to sell drugs? 24. Are parents allowing their premises to be used by other drug users? Provision Of Basic Needs Health Risks 25. If drugs and/or injecting equipment are kept on the premises, are they kept securely? 26. Are the children aware of where the drugs are kept? 27. If parents are intravenous drug users: Do they share injecting equipment? Do they use a needle exchange scheme? How do they dispose of syringes? Are parents aware of the health risks of injecting or using drugs? 28. If parents are on a substitute prescribing programme, such as methadone: Are parents aware of the dangers of children accessing this medication? Do they take adequate precautions to ensure this does not happen? 29. Are parents aware of, and in touch with, local specialist agencies who can advise on such issues such as needle exchanges, substitute prescribing programmes, detox and rehabilitation facilities? If they are in touch with agencies, how regular is the contact? Family Social Network And Support Systems 30. Do parents and children associate primarily with:   Other drug users?   Non-users?   Both? 31. Are relatives aware of the drug use? Are they supportive? 32. Will parents accept help from the relatives and other agencies? Parents’ Perception Of The Situation 33. The degree of social isolation should be considered particularly for those parents living in remote areas where resources may not be available and they may experience social stigmatisation. Do the parents see their drug use as harmful to themselves or to their children? Do the parents place their own needs before the needs of their children? Are the parents aware of the legislative and procedural context applying to their circumstances, (e.g. child protection procedures, statutory powers?

Thursday, September 19, 2019

Karl Marx :: essays research papers

Karl Marx was the father of laissez-faire which means the survival of the fittest. Those who develop the most complex of societies, those with the most money and power are considered the fittest and have â€Å"triumphed† over the inferior. This occurs in order for society to move forward and create a work ethic for members of the working class to follow. This may only occur for members of the dominant group. Those who are non-white and non-male may not experience the same benefits.   Ã‚  Ã‚  Ã‚  Ã‚  Poverty a sign of inferiority because they don’t have the power the fittest have. Those who owned the means of production were the â€Å"fit† individuals because this gave them power over the lower classes. Spencer argued against government interference to help the lower classes, he said that this would only go against the natural evolution of mankind. The Welfare system, in Spencer’s critique is a system to help the parasites of society to survive. They drain the system that the capitalists have built. Over time these â€Å"unfit† classes would either improve or die off.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Simple societies were like infants, which would either grow up, aided, ideally by the example of more advances adults, or not evolve and therefore die off.† (Social Theory for a Change, P.53). These ideas were from a capitalist prospective. Spencer felt that an entirely free market could work; Marx’s laissez-faire ideas backed the idea that government interference or regulation would once again only inhibit the natural evolution of society.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Only laissez-faire (Free economy) capitalism, which permitted individuals to profit as they saw fit, would allow human happiness and further societal progress† (P.49) Spencer’s ideas were imperialist because they say that only the strongest/fittest of societies will last over time and â€Å"inferior† nations wouldn’t be able to adapt to the changing world and would eventually disappear.

Wednesday, September 18, 2019

Anabolic Steroids Essay -- essays research papers

Anabolic Steroids Anabolic steroids are synthetic coumpounds formulated to be like the male sex hormone testosterone. Many athletes use anabolic steroids male and female alike, such as body builders , weightlifters, baseball players, football players, swimmers, and runners. They do so because they mistakenly believe that they will gain strength and size. In a male testosterone is released by the leydig cells in the testes. The testosterone has two main functions androgenic and anabolic. Androgenic is the development of male sex characteristics. Anabolic is the development of muscle tissue. To treat patients who suffer from a natural lack of testosterone pharmacoligists alter one form of testosterone slightly, increasing th length of time the drug is active. Testosterone was first isolated in 1935, soon forms of testosterone such as dianabol, durabolin, deca-durabolin, and winstrol were produced. One of the main effects of anabolic steroids is to increase the number of red blood cells and muscle tissue without producing much of the androgenic effects of testosterone. There are only four legal uses for steroids treatment for certain forms of cancer, pituatary dwarfism, and serious hormone disturbances. There are two forms of anabolic steroids those taken orally and those injected. The immediate effects of both are mood swings of many different kinds. In one study, physicians Ian Wilson, Arthur Prang, Jr., and Patricio Lara found that four out of five men suffering from dippresion when given a steroid suffered from dillusions. A research team from Great Britian Found that a patient given steroids became dizzy, dissoriented, and incoherent. Physicians William Layman and William Annitto have had a case of a young man who was diagnosed as schizophrenic took steriods to help with his wieghtlifting. After taking these drugs he suffered severe deppresion and anxiety and had trouble sleeping. Most people who use steroids do not have side affects this severe. Steroids make changes in the electroencephalogram (an image of brain ellectrical activity). Researchers believe that these changes are responsible for some of the behavior changes in users of steroids like increased hostility and... ... I read from the researchers that anabolic steroids show few if any effects at all and I read from athletes that there is a very large effect on muscle gain and endurance. I came across only one book though that addressed this issue between researchers and atheletes. The book sayed that The American College of Sports Medicine stated a report on the use and abuse of anabolic steroids. It stated that for many people any benefits of anabolic steroids are small and not worth the health risk. Yet almost all the athletes who use anabolic steroids feel that the steroids had a great effect and that they would not have been successful without them. The big gap between researchers and athletes has caused a big contraversy athletes say one thing and researchers say another. The researchers have found a reason that maybe is the cause that anabolic steroid users see efects that researchers say are not possible they call it the "placebo effect". The placebo effect works by the power of suggestion athletes believe that the steroids will improve there performance so they do. The placebo effect is real the performance is improved and the gains are not imagi

Tuesday, September 17, 2019

Paris Peace Settlements Essay

An international order means how the world exist, work and co-related to each other, which could explain in different aspects included political, military, economic and diplomatic. In the following paragraphs, how Paris Peace Settlements during 1919-23 established a new international order would be explained. In the political aspect, the new international order characterized by the declination of Europe and marked by the rise of US. Before 1914, the world was dominated by Europe. European countries were strong in terms of economic and military power. The European countries are industrialized; they have high competiveness between each others in foreign goods. They have the power to establish overseas colonies. Thus, European countries have very strong military strength which was showed in the arms race between different countries. However, during the Paris Peace Settlements US became one of the big three, and have large authority over the drafting of treaties. After WWI, European countries were exhausted. Britain, for example, she became one of the world’s largest debtors with interest payments that formed around 40% of the government spending. In the new international order, the design of map had changed—new states were created and the Paris Peace Settlements leaded the declination of European empires. Before 1914, it was an age of empires, there are: German Empire, Austria-Hungarian Empire, Ottoman Empire, and Russian Empire etc. After 1923, the fall of empires occurred, Russia fell after the October Revolution, became the first communist country and German Empire became republic (Weimar Republic) after the German revolution. In the Paris Peace Settlement, Austria-Hungarian Empire had splitted into Austria and Hungary due to Treaty of St.Germain and Ottoman Empire declined largely; it had lost territory due to the Treaty of Lausanne. Germany lost Poland, reduced it size and lost all overseas colonies in the Treaty of Versailles. After 1923, there were establishments of new nations such as Czechoslovakia, Estonia,  Poland, Latvia, Finland etc. due to the principal of self determination that the Paris Peace Settlem ent put into practice. In the new international order, an organization— League of Nations was set up for peace keeping. Before 1914, there were only two attempts for peace making—the Hague conference. There are no agreements were reached in both Hague Conferences which leaded to the failure of peace keeping and WWI was broken out. After 1919, The Paris Peace settlements were called to decide what to do to achieve peace and settle matters in peaceful means. In the new international order, the rise of totalitarianism in Italy and Germany occurred. Before 1914, extreme nationalism only caused European powers to scramble about for colonies to bring about national glory; however, they did not expand by taking territories nearby. Thus, there were no changes or rise of any new political ideology, only nationalism caused territorial change and colonial rivalries. On the Paris Peace Settlements, the big three tend to weaken Germany and Austria, to prevent them from growing into a strong power again by abolishing union between the two of them and ceding land from them. After 1919, rise of totalitarianism caused countries like Italy and Germany to adopt expansionist foreign policies in order to regain ‘territorial loss’ e.g. Italy occupied Greek island in 1923. In military aspect, the domination of Germans’ military was lost in the new international order. Before 1914, Germany was one of the strongest countries in terms of military. From treaty of Versailles, Germany was only allowed a regular army that was limited to 100,000 military personnel, an air force and only a very small fleet. The compulsory enlistment into the armed forces had put to an end. Thus, Rhineland had to be occupied for 15 years by the allied military forces. All commissions in Germany controlled by the allies until 1927 from 1919. After 1919, due to the military restrictions imposed on Germany, there was a lost of the military advantage and the status of domination. In the new international order, the League of Nations adopted a principal—Collective security which means when a country is being attacked;  other country should give aid come to support the attacked country. Before 1914, there is no any ideology to give military aid to countries, but only secret agreements or treaties or to use military power in solving problem and conflict. Thus, arms race between countries occurred very often, countries could compete for land on their own without passing through any trials or any peace keeping bodies. On the Paris Peace Settlement, there was the establishment of League of Nations which symbolizes the existence of collective security. Also, there were disarmaments of the defeated powers to maintain peace e.g. abolition of conscription in Germany. After 1919, there were restrictions in military over the defeated powers. European powers tried to negotiate, instead of using military power to solve problems. In the economic aspect, Germany lost its economic income, at the same time; France got the power to recover from the war in the new international order. Before 1914, there were many natural resources in Germany, many coal mines in the northern part of Germany. By 1900, the average mine output had risen to 280,000 tons. By 1913, there was a production of 18 million tons of steel. However, in the treaty of Versailles, the Saar was to be governed by the League of Nations for 15 years started from 1919, and its coalfields were to be ceded to France. After 1919, Germany had lost an income to recover from war. In the new international order, there was a huge unbalancing concerning about the economy—Germany was almost being bankrupt however allied powers received a source of recovery. Before 1914, Germany was rich and had competitiveness among the European powers. Germany had textile industries, coal production, banks, railways, and steel production. In the treaty of Versailles, Germany had to pay reparations up to 6.6 billion pounds. After 1923, Germany could not afford the huge indemnity, workers had discontent because they did not have payment for their job, as their money were all used to pay the reparations. At the same time, the government had to print more money to satisfy the need of workers, however, it soon faced serious economic problems such as hyperinflation and unemployment. On the other hand, Britain and France received reparations from Germany; it had been a source of recovery from the destruction brought by war and distant of recovery from  the war for Germany was far. In the new international order, Austria went bankrupt and Hungary’s industry suffered greatly. Before 1914, Austria-Hungary had agriculture and food industry, and was the most important foreign food supplier to Germany, Italy and Britain. It also had heavy industry such as car manufacturing and electric power industry. However, in the Treaty of St. Germain, Austria had to pay reparations. In the Treaty of Trianon, Hungary lost population which meant the loss of productivity. After 1919, Austria and Hungary suffered and had to rely on League of Nations to recover from the war. In diplomatic aspect, the idea of collective security was being raised in League of Nations. Before 1914, there was extreme nationalism, which encouraged European powers to expand the overseas colonies; military also meant the status and the power of a country and have a suspicious attitude towards other European powers. In the Paris Peace Settlements, there was the formation of League of Nations to ensure world peace. Moreover, it was situated in Switzerland to ensure its neutrality. After 1919, there were more measures on peace keeping. To conclude, a new international order was established via Paris Peace Settlements.

Monday, September 16, 2019

Consulting Report of Solberri Hotel

Solberri Hotel January 20 2012 This report is in response to the request by Solberri hotel group for a review of its facing issues and identification of possible solutions. Consulting report ? STATE OF AFFAIRS Solberri is a group of resort hotels registered as a listed company with 12 resort hotels in Europe. Established in the 1980s, it had run successfully until 2003 and also incurred losses in 2005 and 2006. To improve the situation, Solberri implemented strategy changes to the hotel operating environment such as the pricing changes and a refurbishment program. With these adjustments, situation gets better with a large forecast cash surplus in this financial year. Currently the chain of hotels is faced with critical issues revolving around its operation including human resources that are better explained with the help of SWOT analysis in Appendix 1. It is important for Solberri to make use of the management tools to understand the current situation and to achieve the revenue target, increased share holder value and better customer satisfaction. ? ISSUES IN HAND Solberri is faced with multiple issues that act as a barrier to meet their goals and target. From our review and understanding of the environment we put forth the below issues and rank them as priority and other issues. Priority issues: †¢Poor customer experience that could be a result of ethical issues such as oPoor treatment of General manages and senior employees. oMisdistribution of tips oInvestment in unprofitable environmentally friendly initiatives. †¢The potential need to borrow money to enhance spas before the 2007/08 Peak season †¢The need to raise occupancy rates and earnings generated from extra charges to hit the planned revenue for the financial year ending September 2008 †¢The poor share price and vulnerability of Solberri Other issues: †¢Installation of solar panels †¢Non-participation in the international star ratings system †¢Potential problems with the quality of outsourced services †¢Upgrading website to include a virtual tour of facilities . ? ISSUE ANALYSIS In this section, the analysis is done for top priority issues. Customer service and relevant HR issues. The quality of customer service is crucial to companies’ survival in service industry. Unfortunately, the service provided by Solberri failed to meet the expected standard of its customers. The main reason for poor customer service is employees’ lack of skills and motivation. The majority of Solberri employees are temporary, with limited knowledge of the hotel industry and relevant skills. Besides, all short-term employees only receive two days introduction training which is apparently insufficient. The customer service can be improved in two aspects. In the short term, Nick Silva, customer service Director, needs to review staffing level immediately to meet the upcoming demand. Strict selection and a specific regular training program are needed to ensure the quality of its employees. In the long term, adjusting the ratio of the number of long-term employees to that of short-term ones is necessary. Too many temporary employees lead to poor customer service and low stock of talents, resulting in General managers working long hours and under high stress (more details in ethical issues). Though more long-term employees mean more costs, the benefits from improved customer service will outweigh the costs. Furthermore, because recognition of employees’ efforts can stimulate them to offer better service, some motivation measures are recommended. According to ERG theory, people in different levels have different needs. Most temporary employees are in the existence level, they need money to maintain their existence requirements, and therefore incentives such as bonus will be useful. However, most long-term employees are in relatedness and growth level, so incentives such as vocation award or decision making involvement will be suitable. With the new recruitment, training and incentives, it’s estimated that an additional employee cost of â‚ ¬7. 5 million will be incurred, a 12% increase from last year. Ethical issues Two ethical issues will be discussed in this report. a. Poor treatment of employees. General Managers and key senior employees are working under high stress over 16 hours every day. Solberri gets into ethical issue of overworking employees and paying no compensation. Due to a shortage of senior employees, their workload is unlikely to be reduced immediately. Therefore, the hotel should compensate for their overwork. To solve this problem fundamentally Soberri should reserve sufficient elites by increasing its long-term employees. b. Misdistribution of tips. When Solberri collected all the tips and evenly distributed them to employees, an ethical issue arose for the transparency and fairness of such distribution. Such controversial tips distribution should be changed back to the traditional way—employees can keep the tips for themselves. For those non-facing-customer employees who don’t get tips, Solberri is recommended to increase their bonus to make up the difference. Forecast cash surplus investment issue Before analyzing the four proposals, it’s important to know how much cash is available for investment. Since Solberri is under loan covenants and other financing alternatives such as rights issue can’t raise funds in a short time, the only source of funds is the internal capital. It’s estimated that 59 million cash will be generated from operations in this financial year. After deducting finance costs, tax, dividends and additional HR reform costs in the first issue, there’s only â‚ ¬30. 9 million cash available. (Appendix 2. 1) The total amount for the four proposals is â‚ ¬123 million (Appendix 2. 2). Solberri has to perform a cost benefit analysis to choose the most profitable proposal as it is clear that Solberri doesn’t have enough funds to implement all of them. Proposal A is to extend the number of rooms at the four â€Å"Premier† hotels by adding each another 200 rooms and supporting facilities. It’s estimated to generate â‚ ¬10 million NPV for each hotel over a 5-year period based on an 80% occupancy level. However, this may have some negative effects since the additional rooms and facilities make the hotel more crowded and less comfortable. Therefore, the 80% occupancy level is not guaranteed. Besides, it’s just the first year that Solberri has had such high occupancy levels. Extending the number of rooms in such a large scale is too risky. Proposal B is to invest in refurbishment and extend spa facilities at the remaining hotels. The forecast cost is â‚ ¬6 million for each hotel. The high level of bookings at the 4 â€Å"Premier† hotels during the 2008 Peak season has demonstrated the success of the refurbishment plan. So this proposal contains relatively little risk. Furthermore, spa facilities have become a key selling point in resort hotels. This new trend provides great opportunity for Solberri to escape from the Red Ocean, the very competitive market of traditional resort hotels. By differentiating itself by providing exclusive spa facilities, Solberri can successfully grab the Blue-ocean market, namely the profitable and rapidly-developing market of resort hotels with exclusive spa facilities. Finally, refurbishing the hotels can improve Solberri’s profit margin. However, refurbishing all the remaining hotels simultaneously is beyond Solberri’s financial ability. It’s recommended that Solberri refurbish only three hotels—two â€Å"Superior† and one â€Å"Super Plus†. Refurbishing the â€Å"Super Plus† hotels is riskier since there is no previous experience and the refurbishment will need to close permanently 15 rooms in each hotel. But if Solberri only refurbish â€Å"Superior† hotels, in a short time, there will be a gap in middle-priced hotels, which is unfavorable to the company’s strategic development. Proposal C is to acquire an additional resort hotel costing 24 million. The expected NPV is â‚ ¬39. 2 million (Appendix 2. 3). Besides, the breakeven occupancy level is 60% (Appendix 2. 4), which is quite easy to achieve. So Proposal C seems profitable with reasonable risk. However, the initiate cost is too large as it’s for only one hotel. Compared with Proposal B, it’s too risky for Solberri in its first year with such good performance. Proposal D is to invest in environmentally friendly initiatives including the installation of solar panels costing â‚ ¬6 million and other environmental initiatives costing â‚ ¬9 million. Though investing in these initiatives cannot generate profits for the company directly, it can help establish Solberri as a socially responsible company which will be positive to its image. But funds are so limited that investing in all these in unrealistic. It’s recommended that Solberri invest in the solar panel project first since it can produce cost savings of 0. 6 million per year and defer the others. Loan covenant restriction The â‚ ¬20 million loan negotiated at the end of 2007 has loan covenants restricting the company’s further loan financing within 2 years from December 2007, resulting in a probable capital shortage for its future development. Solberri can try negotiating with the bank for removal of restriction by showing them the latest forecast figures and the high level of bookings. However, the good performance of only one year wouldn’t be convincing enough to the bank. Solberri can also try refinancing by issuing additional stocks through public offering or private placement. However, due to the relatively high standard and costly registration of public offering, private placement is preferable. With low threshold for issuing, private placement is feasible for Solberri whose business just began to pick up after slow seasons. With the good performance this year, it’s probable that the Solberri will attract strategic investment from institutional investors via private placements to ensure its future development. The poor share price and vulnerability of Solberri RECOMMENDATION Customer service and related HR issues. It is recommended that Solberri immediately work out a plan for recruitment and training, to ensure job fit and effective training among all employees. Employees who can’t provide the high standard of service will be refused or assigned to non-facing-customer positions. Moreover, Solberri should set up appropriate motivation mechanisms such as bonus and vacation rewards. It is also recommended that Solberri enlarge its long-term employee proportion by training some short-term employees to be skillful long-term ones. In this way, more employees will cultivate a sense of responsibility and can handle the previous temporary employees’ work in non-peak season. Ethical issues It’s recommended that Solberri compensate for employees’ overwork. In the long run, the company needs to enlarge its senior employee reserve. It’s recommended that Solberri abandon its controversial tips distribution and set up a bonus system for non-facing customer employees to make up their income difference. Forecast cash surplus investment issue It’s recommended that Solberri spend its forecast cash surplus on Proposal B to refurbish and extend the spa facilities at two â€Å"Superior† hotels and one â€Å"Super Plus† hotel, which costs â‚ ¬18 million in total. Since it’s just the first year Solberri has performed so well in these years, it’s better for it to be conservative towards investment. It’s also recommended that Solberri invest in the installation of solar panels at all 12 hotels costing â‚ ¬6 million and postpone other environmentally friendly initiatives due to its limited funds. These two plans will result in â‚ ¬6. 9 million cash retained Appendix 2. 5), which will help improve the liquidity of Solberri. . Loan covenant restriction It is recommended that Solberri try to negotiate with the bank for removal of the restriction. If it’s not workable, Solberri could try seasoned equity offering to refinance either by public offering or private placement, while private placement seems to be most feasible for Solberri and thus is highly recommended. If external financing doesn’t work, it is highly recommended that Solberri try all means to control its costs. The poor share price and vulnerability of Solberri ? CONCLUSION Solberri is now at a crucial time since it’s the first time it has had such good performance in these years. It is now facing several important issues. The most important ones are how to solve the poor customer service problem and which investment proposal to choose for its future development to increase the occupancy level for all the hotel rooms. It is believed that the analysis and recommendations above can serve as useful references for its decision-making. Solberri has to differentiate itself in the market through a shift by showcasing its spa facilities as its forefront in capturing holiday makers. With a change in visa regulations in Europe Solberri may opt to pay more attention to its local clients by offering the day use of the hotel’s services and facilities during non-peak seasons. To position itself as a â€Å"holiday resort hotel†, there should be a refurbishment of Solberri’s hotels to â€Å"Premier† standards ? SWOT ANALYSIS STRENGTHS †¢Good reputation with a long history; †¢Proven track record of range of spa facilities †¢Successful refurbishment program †¢Many of long-term employees have worked for Solberri for over 10 years with rich experience. †¢Stable co-operation with several travel agents. Experienced board directors. †¢High sense of Corporate Social Responsibility( 1 hotel won a bronze award in the Green Tourism business awards, 2007 †¢High level of bookings for Peak season 2008 with large cash surplus forecast WEAKNESS †¢Outdated information technology systems. †¢Restrictive loan covenan t. †¢Difficulty in enforcing agreed quality service levels. †¢Declining share price compared to 2002 †¢Poor customer service with disappointing customer feedback. †¢Low level of repeat booking. †¢Lack of motivation of short-term employees. †¢Poorly structured financial planning. †¢Resignation of Finance Director. OPPORTUNITIES High level of bookings and a forecast cash surplus of â‚ ¬59 million which can be used for further expansion, refurbishment program, paying dividends, and(or) meeting CSR by investing in environmentally friendly initiatives; †¢ Huge potential market for Spa service †¢Pricing structure changes to boost occupancy levels †¢Effective use of variety of media to generate more sales THREATS †¢ External completion from other hotel industries †¢ Understaffing and poor service to meet the high level booking that could impact reputation †¢Resistance from †¢Competitors having state of art information technology can be market eaders. †¢ Fall in spa revenues of one â€Å"premier† hotel due to a rival business operated by an ex-manager. †¢Difference of opinion amongst management staff may delay the strategy implementation. WORKINGS 2. 1. 1 Investible surplus â‚ ¬59 million is cash generated from operations before finance costs, tax and dividends, which should be deducted. Besides, the additional operation cost incurred by human resources management should also be deducted in order to get the available cash for investment. 2. 1. 2Cost of finance S. No. AmountRate of InterestDetailsDuration for CYInterest Cost a. 12 m10%Oct- Dec ‘073 monthsâ‚ ¬0. 3 m b. â‚ ¬6 m8%Repayable in Sep 20101 yrâ‚ ¬0. 48m c. â‚ ¬15 m11%June 20121 yrâ‚ ¬1. 65m d. â‚ ¬20 m10%Jan-2008 to Dec ‘149 mthsâ‚ ¬1. 5m Totalâ‚ ¬3. 93 m Notes: a. â‚ ¬12 million loan at 10% repayable in December 2007 -As its repayable date is in December 2007, the interest expens e incurred in this accounting period is only for three months (October 2007 to December 2007). â‚ ¬12 million*10%*3/12 = â‚ ¬0. 3 million b. â‚ ¬6 million loan at 8% repayable in September 2010 -â‚ ¬6 million*8% = â‚ ¬0. 48 million c. â‚ ¬15 million loan at 11% repayable in June 2012 -â‚ ¬15 million*11% = â‚ ¬1. 5 million d. â‚ ¬20 million loan at 10% beginning in January 2008 and repayable in December 2014 -As this loan began in January 2008, the interest expense incurred in this accounting period is only for nine months (January 2008 to September 2008). â‚ ¬20 million*10%*9/12 = â‚ ¬1. 5 million 2. 1. 3 Tax expense As stated in the case, the post-tax profit for the year ended September 2008 will be â‚ ¬27 million. Based on the tax rate of 32%, the taxable income = â‚ ¬27 million/(1-32%) = â‚ ¬39. 7 million . Therefore, the tax expense = â‚ ¬39. 7 million*32% = â‚ ¬12. 7 million 2. 1. 4 Dividends In 2007, Solberri made a profit of â‚ ¬5 million and paid â‚ ¬2 million for dividends, which equals a dividend per share of â‚ ¬0. 083. It’s recommended that Solberri double the DPS this year, making the total dividends expenditure as much as â‚ ¬4 million. 2. 1. 5 Additional operation cost As is mentioned before, the high occupancy level this year will incur additional operational cost due to the employee recruitment, training and motivation. It’ estimated to be around â‚ ¬7. 5 million based on an estimated 12% increase compared with 2007 when the staff costs were â‚ ¬62 million. Cash Available for Investment( in million) Investible surplus( before deduction)= â‚ ¬59. 00 Less: Interest cost –â‚ ¬3. 93 Tax expense –â‚ ¬12. 7 Dividend expense –â‚ ¬4. 00 Additional operation cost –â‚ ¬7. 5 Net surplus= â‚ ¬30. 9 2. 2. Total cost for all four investment proposals : ProposalInvestment cost per hotelNumber of hotelsTotal cost Aâ‚ ¬9 million4â‚ ¬36 million Bâ‚ ¬6 million8â‚ ¬48 million C****â‚ ¬24 million Dâ‚ ¬15 million Total costâ‚ ¬123 million **Total cost for Proposal C = acquiring cost + refurbishing cost + marketing cost = â‚ ¬5 million +â‚ ¬16 million+â‚ ¬3 million = â‚ ¬24 million Total cost for Proposal D = â‚ ¬15 million 2. . Expected NPV of Proposal C As is shown in the case, when occupancy level equals 95%, the NPV will be â‚ ¬100. 0 million. When it’s 80%, the NPV will be â‚ ¬35 million. When it’s 50%, the NPV will be –â‚ ¬25 million. And their probabilities are 25%, 60% and 15% respe ctively. Therefore, the weighted average NPV = â‚ ¬100. 0 million*25% + â‚ ¬35. 0 million*60% +(-â‚ ¬25 million)*15% = â‚ ¬42. 2 million However the marketing cost of â‚ ¬3 million is excluded in the above NPV, so the expected NPV of Proposal C = â‚ ¬42. 2 million – â‚ ¬3 million = â‚ ¬39. 2 million 2. 4. Breakeven occupancy level of Proposal C When occupancy level equals 95%, the NPV will be â‚ ¬97 million. When it’s 50%, the NPV will be -â‚ ¬28 million. Thus, when the occupancy level decreases by 1%, the NPV will decrease by â‚ ¬2. 78 million. [â‚ ¬97 million – (-â‚ ¬28 million)] / (95-50) = â‚ ¬2. 78 million In this way, when the occupancy level changes by about 35% (97/2. 78), the NPV will decrease to zero. Therefore, the breakeven occupancy level is around 60%. 2. 5 Estimated cash retained Estimated cash retained = cash available for investment – investment costs = â‚ ¬30. 9 million –â‚ ¬24 million = â‚ ¬6. 9 million Comparison between Solberri and Shangri-la Asia Limited with the DuPont Model 3. 1 DuPont Model of Solberri 2007 Return on Equity (ROE) 0. 568 Return on Assets (ROA) 0. 3086? Equity Multiplier (EM) 1. 8409 Profit Margin 0. 0314? Total Asset Turnover 0. 9815 1 /(1—Debt Ratio 0. 4568) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets 3. 2 DuPont Model of Shangri-la Asia Limited 200 7 Return on Equity (ROE) 0. 1046 Return on Assets (ROA) 0. 1029? Equity Multiplier (EM) 1. 016 Profit Margin 0. 3069? Total Asset Turnover 0. 3354 1 /(1—Debt Ratio 0. 0159) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets Comparison between Solberri and Shangri-la Asia Limited with the DuPont Model 3. DuPont Model of Solberri 2007 Return on Equity (ROE) 0. 0568 Return on Assets (ROA) 0. 3086? Equity Multiplier (EM) 1. 8409 Profit Margin 0. 0314? Total Asset Turnover 0. 9815 1 /(1—Debt Ratio 0. 4568) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets 3. 2 DuPont Model of Shangri-la Asia Limited 2007 Return on Equity (ROE) 0. 1046 Return on Assets (ROA) 0. 1029? Equity Multiplier (EM) 1. 016 Profit Margin 0. 3069? Total Asset Turnover 0. 3354 1 /(1—Debt Ratio 0. 0159) Net Income/Net Sales Net Sales/Average Total Assets T Solberri Hotel January 20 2012 This report is in response to the request by Solberri hotel group for a review of its facing issues and identification of possible solutions. Consulting report ? STATE OF AFFAIRS Solberri is a group of resort hotels registered as a listed company with 12 resort hotels in Europe. Established in the 1980s, it had run successfully until 2003 and also incurred losses in 2005 and 2006. To improve the situation, Solberri implemented strategy changes to the hotel operating environment such as the pricing changes and a refurbishment program. With these adjustments, situation gets better with a large forecast cash surplus in this financial year. Currently the chain of hotels is faced with critical issues revolving around its operation including human resources that are better explained with the help of SWOT analysis in Appendix 1. It is important for Solberri to make use of the management tools to understand the current situation and to achieve the revenue target, increased share holder value and better customer satisfaction. ? ISSUES IN HAND Solberri is faced with multiple issues that act as a barrier to meet their goals and target. From our review and understanding of the environment we put forth the below issues and rank them as priority and other issues. Priority issues: †¢Poor customer experience that could be a result of ethical issues such as oPoor treatment of General manages and senior employees. oMisdistribution of tips oInvestment in unprofitable environmentally friendly initiatives. †¢The potential need to borrow money to enhance spas before the 2007/08 Peak season †¢The need to raise occupancy rates and earnings generated from extra charges to hit the planned revenue for the financial year ending September 2008 †¢The poor share price and vulnerability of Solberri Other issues: †¢Installation of solar panels Non-participation in the international star ratings system †¢Potential problems with the quality of outsourced services †¢Upgrading website to include a virtual tour of facilities . ? ISSUE ANALYSIS In this section, the analysis is done for top priority issues. Customer service and relevant HR issues. The quality of customer service is crucial to companies’ survival in service ind ustry. Unfortunately, the service provided by Solberri failed to meet the expected standard of its customers. The main reason for poor customer service is employees’ lack of skills and motivation. The majority of Solberri employees are temporary, with limited knowledge of the hotel industry and relevant skills. Besides, all short-term employees only receive two days introduction training which is apparently insufficient. The customer service can be improved in two aspects. In the short term, Nick Silva, customer service Director, needs to review staffing level immediately to meet the upcoming demand. Strict selection and a specific regular training program are needed to ensure the quality of its employees. In the long term, adjusting the ratio of the number of long-term employees to that of short-term ones is necessary. Too many temporary employees lead to poor customer service and low stock of talents, resulting in General managers working long hours and under high stress (more details in ethical issues). Though more long-term employees mean more costs, the benefits from improved customer service will outweigh the costs. Furthermore, because recognition of employees’ efforts can stimulate them to offer better service, some motivation measures are recommended. According to ERG theory, people in different levels have different needs. Most temporary employees are in the existence level, they need money to maintain their existence requirements, and therefore incentives such as bonus will be useful. However, most long-term employees are in relatedness and growth level, so incentives such as vocation award or decision making involvement will be suitable. With the new recruitment, training and incentives, it’s estimated that an additional employee cost of â‚ ¬7. 5 million will be incurred, a 12% increase from last year. Ethical issues Two ethical issues will be discussed in this report. a. Poor treatment of employees. General Managers and key senior employees are working under high stress over 16 hours every day. Solberri gets into ethical issue of overworking employees and paying no compensation. Due to a shortage of senior employees, their workload is unlikely to be reduced immediately. Therefore, the hotel should compensate for their overwork. To solve this problem fundamentally Soberri should reserve sufficient elites by increasing its long-term employees. b. Misdistribution of tips. When Solberri collected all the tips and evenly distributed them to employees, an ethical issue arose for the transparency and fairness of such distribution. Such controversial tips distribution should be changed back to the traditional way—employees can keep the tips for themselves. For those non-facing-customer employees who don’t get tips, Solberri is recommended to increase their bonus to make up the difference. Forecast cash surplus investment issue Before analyzing the four proposals, it’s important to know how much cash is available for investment. Since Solberri is under loan covenants and other financing alternatives such as rights issue can’t raise funds in a short time, the only source of funds is the internal capital. It’s estimated that 59 million cash will be generated from operations in this financial year. After deducting finance costs, tax, dividends and additional HR reform costs in the first issue, there’s only â‚ ¬30. 9 million cash available. (Appendix 2. 1) The total amount for the four proposals is â‚ ¬123 million (Appendix 2. 2). Solberri has to perform a cost benefit analysis to choose the most rofitable proposal as it is clear that Solberri doesn’t have enough funds to implement all of them. Proposal A is to extend the number of rooms at the four â€Å"Premier† hotels by adding each another 200 rooms and supporting facilities. It’s estimated to generate â‚ ¬10 million NPV for each hotel over a 5-year period based on an 80% occupancy level. However, this may h ave some negative effects since the additional rooms and facilities make the hotel more crowded and less comfortable. Therefore, the 80% occupancy level is not guaranteed. Besides, it’s just the first year that Solberri has had such high occupancy levels. Extending the number of rooms in such a large scale is too risky. Proposal B is to invest in refurbishment and extend spa facilities at the remaining hotels. The forecast cost is â‚ ¬6 million for each hotel. The high level of bookings at the 4 â€Å"Premier† hotels during the 2008 Peak season has demonstrated the success of the refurbishment plan. So this proposal contains relatively little risk. Furthermore, spa facilities have become a key selling point in resort hotels. This new trend provides great opportunity for Solberri to escape from the Red Ocean, the very competitive market of traditional resort hotels. By differentiating itself by providing exclusive spa facilities, Solberri can successfully grab the Blue-ocean market, namely the profitable and rapidly-developing market of resort hotels with exclusive spa facilities. Finally, refurbishing the hotels can improve Solberri’s profit margin. However, refurbishing all the remaining hotels simultaneously is beyond Solberri’s financial ability. It’s recommended that Solberri refurbish only three hotels—two â€Å"Superior† and one â€Å"Super Plus†. Refurbishing the â€Å"Super Plus† hotels is riskier since there is no previous experience and the refurbishment will need to close permanently 15 rooms in each hotel. But if Solberri only refurbish â€Å"Superior† hotels, in a short time, there will be a gap in middle-priced hotels, which is unfavorable to the company’s strategic development. Proposal C is to acquire an additional resort hotel costing 24 million. The expected NPV is â‚ ¬39. 2 million (Appendix 2. 3). Besides, the breakeven occupancy level is 60% (Appendix 2. 4), which is quite easy to achieve. So Proposal C seems profitable with reasonable risk. However, the initiate cost is too large as it’s for only one hotel. Compared with Proposal B, it’s too risky for Solberri in its first year with such good performance. Proposal D is to invest in environmentally friendly initiatives including the installation of solar panels costing â‚ ¬6 million and other environmental initiatives costing â‚ ¬9 million. Though investing in these initiatives cannot generate profits for the company directly, it can help establish Solberri as a socially responsible company which will be positive to its image. But funds are so limited that investing in all these in unrealistic. It’s recommended that Solberri invest in the solar panel project first since it can produce cost savings of 0. 6 million per year and defer the others. Loan covenant restriction The â‚ ¬20 million loan negotiated at the end of 2007 has loan covenants restricting the company’s further loan financing within 2 years from December 2007, resulting in a probable capital shortage for its future development. Solberri can try negotiating with the bank for removal of restriction by showing them the latest forecast figures and the high level of bookings. However, the good performance of only one year wouldn’t be convincing enough to the bank. Solberri can also try refinancing by issuing additional stocks through public offering or private placement. However, due to the relatively high standard and costly registration of public offering, private placement is preferable. With low threshold for issuing, private placement is feasible for Solberri whose business just began to pick up after slow seasons. With the good performance this year, it’s probable that the Solberri will attract strategic investment from institutional investors via private placements to ensure its future development. The poor share price and vulnerability of Solberri RECOMMENDATION Customer service and related HR issues. It is recommended that Solberri immediately work out a plan for recruitment and training, to ensure job fit and effective training among all employees. Employees who can’t provide the high standard of service will be refused or assigned to non-facing-customer positions. Moreover, Solberri should set up appropriate motivation mechanisms such as bonus and vacation rewards. It is also recommended that Solberri enlarge its long-term employee proportion by training some short-term employees to be skillful long-term ones. In this way, more employees will cultivate a sense of responsibility and can handle the previous temporary employees’ work in non-peak season. Ethical issues It’s recommended that Solberri compensate for employees’ overwork. In the long run, the company needs to enlarge its senior employee reserve. It’s recommended that Solberri abandon its controversial tips distribution and set up a bonus system for non-facing customer employees to make up their income difference. Forecast cash surplus investment issue It’s recommended that Solberri spend its forecast cash surplus on Proposal B to refurbish and extend the spa facilities at two â€Å"Superior† hotels and one â€Å"Super Plus† hotel, which costs â‚ ¬18 million in total. Since it’s just the first year Solberri has performed so well in these years, it’s better for it to be conservative towards investment. It’s also recommended that Solberri invest in the installation of solar panels at all 12 hotels costing â‚ ¬6 million and postpone other environmentally friendly initiatives due to its limited funds. These two plans will result in â‚ ¬6. 9 million cash retained (Appendix 2. ), which will help improve the liquidity of Solberri. . Loan covenant restriction It is recommended that Solberri try to negotiate with the bank for removal of the restriction. If it’s not workable, Solberri could try seasoned equity offering to refinance either by public offering or private placement, while private placement seems to be most feasible for Solberri and thus is highly recommended. If external financing doesn’t work, it is highly recommended that Solberri try all means to control its costs. The poor share price and vulnerability of Solberri ? CONCLUSION Solberri is now at a crucial time since it’s the first time it has had such good performance in these years. It is now facing several important issues. The most important ones are how to solve the poor customer service problem and which investment proposal to choose for its future development to increase the occupancy level for all the hotel rooms. It is believed that the analysis and recommendations above can serve as useful references for its decision-making. Solberri has to differentiate itself in the market through a shift by showcasing its spa facilities as its forefront in capturing holiday makers. With a change in visa regulations in Europe Solberri may opt to pay more attention to its local clients by offering the day use of the hotel’s services and facilities during non-peak seasons. To position itself as a â€Å"holiday resort hotel†, there should be a refurbishment of Solberri’s hotels to â€Å"Premier† standards ? SWOT ANALYSIS STRENGTHS †¢Good reputation with a long history; †¢Proven track record of range of spa facilities †¢Successful refurbishment program †¢Many of long-term employees have worked for Solberri for over 10 years with rich experience. †¢Stable co-operation with several travel agents. Experienced board directors. †¢High sense of Corporate Social Responsibility( 1 hotel won a bronze award in the Green Tourism business awards, 2007 †¢High level of bookings for Peak season 2008 with large cash surplus forecast WEAKNESS †¢Outdated information technology systems. †¢Restrictive loan covenan t. †¢Difficulty in enforcing agreed quality service levels. †¢Declining share price compared to 2002 †¢Poor customer service with disappointing customer feedback. †¢Low level of repeat booking. †¢Lack of motivation of short-term employees. †¢Poorly structured financial planning. Resignation of Finance Director. OPPORTUNITIES †¢High level of bookings and a forecast cash surplus of â‚ ¬59 million which can be used for further expansion, refurbishment program, paying dividends, and(or) meeting CSR by investing in environmentally friendly initiatives; †¢ Huge potential market for Spa service †¢Pricing structure changes to boost occupancy levels †¢Effective use of variety of media to generate more sales THREATS †¢ External completion from other hotel industries †¢ Understaffing and poor service to meet the high level booking that could impact reputation †¢Resistance from Competitors having state of art information techno logy can be market leaders. †¢ Fall in spa revenues of one â€Å"premier† hotel due to a rival business operated by an ex-manager. †¢Difference of opinion amongst management staff may delay the strategy implementation. WORKINGS 2. 1. 1 Investible surplus â‚ ¬59 million is cash generated from operations before finance costs, tax and dividends, which should be deducted. Besides, the additional operation cost incurred by human resources management should also be deducted in order to get the available cash for investment. 2. 1. 2Cost of finance S. No. AmountRate of InterestDetailsDuration for CYInterest Cost a. â‚ ¬12 m10%Oct- Dec ‘073 monthsâ‚ ¬0. 3 m b. â‚ ¬6 m8%Repayable in Sep 20101 yrâ‚ ¬0. 48m c. â‚ ¬15 m11%June 20121 yrâ‚ ¬1. 65m d. â‚ ¬20 m10%Jan-2008 to Dec ‘149 mthsâ‚ ¬1. 5m Totalâ‚ ¬3. 93 m Notes: a. â‚ ¬12 million loan at 10% repayable in December 2007 -As its repayable date is in December 2007, the interest expense incurred in this accounting period is only for three months (October 2007 to December 2007). â‚ ¬12 million*10%*3/12 = â‚ ¬0. 3 million b. â‚ ¬6 million loan at 8% repayable in September 2010 -â‚ ¬6 million*8% = â‚ ¬0. 48 million c. 15 million loan at 11% repayable in June 2012 -â‚ ¬15 million*11% = â‚ ¬1. 65 million d. â‚ ¬20 million loan at 10% beginning in January 2008 and repayable in December 2014 -As this loan began in January 2008, the interest expense incurred in this accounting period is only for nine months (January 2008 to S eptember 2008). â‚ ¬20 million*10%*9/12 = â‚ ¬1. 5 million 2. 1. 3 Tax expense As stated in the case, the post-tax profit for the year ended September 2008 will be â‚ ¬27 million. Based on the tax rate of 32%, the taxable income = â‚ ¬27 million/(1-32%) = â‚ ¬39. 7 million . Therefore, the tax expense = â‚ ¬39. 7 million*32% = â‚ ¬12. 7 million 2. . 4 Dividends In 2007, Solberri made a profit of â‚ ¬5 million and paid â‚ ¬2 million for dividends, which equals a dividend per share of â‚ ¬0. 083. It’s recommended that Solberri double the DPS this year, making the total dividends expenditure as much as â‚ ¬4 million. 2. 1. 5 Additional operation cost As is mentioned before, the high occupancy level this year will incur additional operational cost due to the employee recruitment, training and motivation. It’ estimated to be around â‚ ¬7. 5 million based on an estimated 12% increase compared with 2007 when the staff costs were â‚ ¬62 m illion. Cash Available for Investment( in million) Investible surplus( before deduction)= â‚ ¬59. 00 Less: Interest cost –â‚ ¬3. 93 Tax expense –â‚ ¬12. 7 Dividend expense –â‚ ¬4. 00 Additional operation cost –â‚ ¬7. 5 Net surplus= â‚ ¬30. 9 2. 2. Total cost for all four investment proposals : ProposalInvestment cost per hotelNumber of hotelsTotal cost Aâ‚ ¬9 million4â‚ ¬36 million Bâ‚ ¬6 million8â‚ ¬48 million C****â‚ ¬24 million Dâ‚ ¬15 million Total costâ‚ ¬123 million **Total cost for Proposal C = acquiring cost + refurbishing cost + marketing cost = â‚ ¬5 million +â‚ ¬16 million+â‚ ¬3 million = â‚ ¬24 million Total cost for Proposal D = â‚ ¬15 million . 3. Expected NPV of Proposal C As is shown in the case, when occupancy level equals 95%, the NPV will be â‚ ¬100. 0 million. When it’s 80%, the NPV will be â‚ ¬35 million. When it’s 50%, the NPV will be –â‚ ¬25 million. And their probabilities are 25%, 60% and 15% respe ctively. Therefore, the weighted average NPV = â‚ ¬100. 0 million*25% + â‚ ¬35. 0 million*60% +(-â‚ ¬25 million)*15% = â‚ ¬42. 2 million However the marketing cost of â‚ ¬3 million is excluded in the above NPV, so the expected NPV of Proposal C = â‚ ¬42. 2 million – â‚ ¬3 million = â‚ ¬39. 2 million 2. 4. Breakeven occupancy level of Proposal C When occupancy level equals 95%, the NPV will be â‚ ¬97 million. When it’s 50%, the NPV will be -â‚ ¬28 million. Thus, when the occupancy level decreases by 1%, the NPV will decrease by â‚ ¬2. 78 million. [â‚ ¬97 million – (-â‚ ¬28 million)] / (95-50) = â‚ ¬2. 78 million In this way, when the occupancy level changes by about 35% (97/2. 78), the NPV will decrease to zero. Therefore, the breakeven occupancy level is around 60%. 2. 5 Estimated cash retained Estimated cash retained = cash available for investment – investment costs = â‚ ¬30. 9 million –â‚ ¬24 million = â‚ ¬6. 9 million Comparison between Solberri and Shangri-la Asia Limited with the DuPont Model 3. DuPont Model of Solberri 2007 Return on Equity (ROE) 0. 0568 Return on Assets (ROA) 0. 3086? Equity Multiplier (EM) 1. 8409 Profit Margin 0. 0314? Total Asset Turnover 0. 9815 1 /(1—Debt Ratio 0. 4568) Net Income/Net Sales Net Sales/Average Total Assets Total Liabil ities/Total Assets 3. 2 DuPont Model of Shangri-la Asia Limited 2007 Return on Equity (ROE) 0. 1046 Return on Assets (ROA) 0. 1029? Equity Multiplier (EM) 1. 016 Profit Margin 0. 3069? Total Asset Turnover 0. 3354 1 /(1—Debt Ratio 0. 0159) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets Comparison between Solberri and Shangri-la Asia Limited with the DuPont Model 3. 1 DuPont Model of Solberri 2007 Return on Equity (ROE) 0. 0568 Return on Assets (ROA) 0. 3086? Equity Multiplier (EM) 1. 8409 Profit Margin 0. 0314? Total Asset Turnover 0. 9815 1 /(1—Debt Ratio 0. 4568) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets 3. 2 DuPont Model of Shangri-la Asia Limited 2007 Return on Equity (ROE) 0. 1046 Return on Assets (ROA) 0. 1029? Equity Multiplier (EM) 1. 016 Profit Margin 0. 3069? Total Asset Turnover 0. 3354 1 /(1—Debt Ratio 0. 0159) Net Income/Net Sales Net Sales/Average Total Assets T