Sunbeam Corporation and Chainsaw Al Essay Example For Students

Sunbeam Corporation and Chainsaw Al Essay OTTAWA UNIVERSITY FINANCE ADMINISTRATION POST-CLASS ASSIGNMENT MODULE 5 FAHRIAN C. H. CHOE STUDENT ID: 128370 MELAKA # 03 DUE: JULY 5, 2004 FINAL CASE IN FINANCIAL DECISION MAKING SUNBEAM CORPORATION AND CHAINSAW AL Prepared For Richard Brewington Instructor Ottawa University International Prepared by Fahrian C. H. Choe Student Ottawa University International June 30th, 2004 CONTENTS Page Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. i Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 1 Dunlap’s Action Plan†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2 Accounting Practices Raise Questions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Lawsuit †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5 Discussion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 9 Reference †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 10 Executive Summary This report is based on Sunbeam Corporation and Albert Dunlap, the CEO from 1996 till 1998. In July of 1996, Michael Price and Michael Steinhardt hired Dunlap as the CEO and chairman of the board for Sunb eam Corporation. As two of the original investors who bought Sunbeam from bankrupt Allegheny International, Price and Steinhardt together own 42 percent of its stock. We will write a custom essay on Sunbeam Corporation and Chainsaw Al specifically for you for only $16.38 $13.9/page Order now Prior to hiring Dunlap they had tried, unsuccessfully, to sell Sunbeam. They believed that he was the one person who could turn the company around and increase stock prices and profits. The increase in stock prices did occur, almost instantly. The turnaround took just fifteen months. On July 19, 1996, the day Dunlap was named chairman and CEO of Sunbeam, the stock jumped 49 percent. The jump increased the share price from 12 ? to 18 5/8, adding $500 million to Sunbeam’s market value. The stock continued to increase and reached a record high of $52 per share in March 1998. Corporate turnaround specialist Al Dunlap, whose penchant for slashing jobs earned him the nickname Chainsaw Al, His plan involved massive cuts to the companys product lines, plant closings and major cutbacks in the number of employees at Sunbeam. He called for the same types of cutbacks at previous companies he headed, including Scott Paper. As head honcho at Scott Paper, Sunbeam and other once-sleeping giants, Dunlap has turned around balance sheets with dramatic speed and results. Dunlap had built quite a reputation for himself. He was well regarded by Wall Street and the investment community for his track record in dramatically boosting shareholder value at troubled companies. To investors who made millions by following him, Dunlap was, if not a god, certainly a savior (2). In 1997, on the basis of Sunbeam’s financial statements, it appeared that Sunbeam’s turnaround had been accomplished. In 1998 Sunbeam began a series of acquisitions of Coleman Inc. , First Alert Inc. , and Mr. Coffee, all synergistic businesses related to Sunbeam’s core businesses. In the first Quarter of 1998 the stock hit its all-time high of $52 per share. By June 1998, the companys directors had fired Dunlap, commenting that they had lost confidence in his leadership abilities. Dunlaps dismissal comes less than two years after the company recruited him. Three years later, Sunbeam was in bankruptcy court and by May 2001 Dunlap was charged with fraud by the SEC. Dunlap was charged with orchestrating a fraudulent scheme to create the illusion of the successful restructuring of Sunbeam and facilitate the sale of the Company at an inflated price. (1) By September 2002, Dunlap had been banned from ever serving as an officer or director of a public company. He also was required to pay a $500,000 fine. (The New York Times; September 5, 2002). By December 2002, the company announced that it had emerged from Chapter 11 bankruptcy protection. This announcement came with a name change for the company, from Sunbeam Corporation to American Household Inc (The New York Times; December 19, 2002). The purpose of finance is to maximize shareholders wealth. How did pressures for financial performance contribute to an organizational culture that tried to manipulate quarterly sales and to influence investors?. Introduction When John Stewart and Thomas Clark founded the Chicago Flexible Shaft Company in Dundee, Illinois, in 1897, they probably never expected the company would be facing ethical and financial dilemmas more than a century later. Like many corporations, the firm has changed and faced many crises. It has acquired rival companies, added totally new product lines, changed its name, gone through bankruptcy, gone public, rebounded, restructured and relocated. Sunbeam is a well-known and recognized designer, manufacturer, and marketer of consumer products. Sunbeam products are considered household staple items and are known for their use in cooking, health care, and personal care. Over its 100 years of operation, Sunbeam has grown and changed according to societal needs. It operates facilities in Canada, England, Hong Kong, Mexico, the US, and Venezuela. In June of 1996, Sunbeam Corporation needed help. Its earnings had been rapidly declining since December 1994, and by 1996, the stock was down 52 percent and earnings had declined by 83 percent. Sunbeam also had 12,000 employees as well as 26 factories worldwide, 61 warehouses, and 6 headquarters. This when Albert Dunlap also known as Chainsaw Al came into the picture. He received his reputation as one of the country’s meanest executives because he ruthlessly eliminated thousands of jobs. He was known for his ability to restructure and turn around troubled companies. His philosophy was deficient in regards to ethical responsibility. Shareholder wealth, at any cost, was his only goal. Dunlap’s Action Plan In order to make money for shareholders, Dunlap created and followed four simple rules of business. Get the right management team, cut back to the lowest costs, focus on the core business and get a real strategy. In following those four rules, Dunlap helped turn around companies in seventeen states and across three continents. The champion move he made was to work on the first step of his four simple rules of business, get the right management team. Once the first step had been accomplished, Dunlap and the â€Å"Dream Team† for Sunbeam quickly went into action implementing the second rule. The second of Dunlap’s four simple rules is to cut back to the lowest costs. .u6f4d4671d23e44fad4f909bed4b8e6b0 , .u6f4d4671d23e44fad4f909bed4b8e6b0 .postImageUrl , .u6f4d4671d23e44fad4f909bed4b8e6b0 .centered-text-area { min-height: 80px; position: relative; } .u6f4d4671d23e44fad4f909bed4b8e6b0 , .u6f4d4671d23e44fad4f909bed4b8e6b0:hover , .u6f4d4671d23e44fad4f909bed4b8e6b0:visited , .u6f4d4671d23e44fad4f909bed4b8e6b0:active { border:0!important; } .u6f4d4671d23e44fad4f909bed4b8e6b0 .clearfix:after { content: ""; display: table; clear: both; } .u6f4d4671d23e44fad4f909bed4b8e6b0 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u6f4d4671d23e44fad4f909bed4b8e6b0:active , .u6f4d4671d23e44fad4f909bed4b8e6b0:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u6f4d4671d23e44fad4f909bed4b8e6b0 .centered-text-area { width: 100%; position: relative ; } .u6f4d4671d23e44fad4f909bed4b8e6b0 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u6f4d4671d23e44fad4f909bed4b8e6b0 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u6f4d4671d23e44fad4f909bed4b8e6b0 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u6f4d4671d23e44fad4f909bed4b8e6b0:hover .ctaButton { background-color: #34495E!important; } .u6f4d4671d23e44fad4f909bed4b8e6b0 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u6f4d4671d23e44fad4f909bed4b8e6b0 .u6f4d4671d23e44fad4f909bed4b8e6b0-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u6f4d4671d23e44fad4f909bed4b8e6b0:after { content: ""; display: block; clear: both; } READ: Greece And Rome EssayAs expected, and true to his reputation, layoffs occurred. After less than four months as the chairman and CEO of Sunbeam, Dunlap announced plans to eliminate half of the 12,000 worldwide employees. Another method used by Dunlap to cut back to the lowest costs was to reduce the number of SKUs (stock keeping units) from 12,000 to 1,500. The reduction of SKU enabled Dunlap to eliminate unneeded factories and warehouses, which was another cost-savings method. This made it possible to reduce the number of headquarters locations. The third step was to focus on Sunbeam’s core business, which first needed to be defined. Dunlap defined the core business as electric appliances and appliance-related businesses. Five categories surrounding the core business were identified as vital to Sunbeam’s success: kitchen appliances, health and home, outdoor cooking, personal care and comfort, and professional products. All products that did not fit into one of these five categories were sold. The final of Dunlap’s four simple rules of business is to get a real strategy. Dunlap and his team defined Sunbeam’s strategy as driving growth of the company through core business expansion by further differentiating products, moving into new geographical areas, and ntroducing new products that tied directly to emerging customer trends as lifestyles evolve around the world. Each of Dunlap’s four rules had been reviewed and changes had been made within seven months of his taking the position to complete the turnaround of Sunbeam. The stock had risen to over $48 per share, a 284 percent increase si nce July 1996. In October 1997, just 15 months after accepting the position as chairman and CEO, Dunlap issued a press release stating the turnaround was complete and was looking for a buyer for Sunbeam. Unable to get the price he wanted, Dunlap decided to invest by purchasing companies. On March 2, 1998, Sunbeam acquired 82 percent of Coleman (camping gear), Signature Brands (Mr. Coffee) and First Alert (smoke and gas alarms). Two days after these purchases were announced; Sunbeam’s stock jumped to a record high of $52 a share. With share prices the highest they had ever been and 1997 net income reported at $109. 4 million, Sunbeam truly seemed to have turned the corner, at least on paper. Dunlap accomplished what he set out to do at Sunbeam, but the shareholder wealth did not last.. Sunbeam is again facing rough times. Soon after the purchases, rumors began emerging that the three purchases were made to disguise losses through write-offs. On Saturday, June 13, 1998, the board of directors agreed that their confidence in Dunlap and his ability to turnaround Sunbeam was lost, stating his immediate departure would be necessary. Chainsaw Al was told that same day, via a one-minute conference call, that he was the next person to be cut at Sunbeam. Accounting Practices Raise Questions Paine Webber Inc. analyst Andrew Shore had been following Sunbeam since the day Dunlap was hired. Shore had been scrutinizing Sunbeam’s financial statements every quarter and considered its reported levels of inventory for certain items to be high for the time of year. He noted massive increases in sales of electric blankets in the third quarter, which usually sell well in the fourth quarter. He also found it odd that sales of grills were high in the fourth quarter, an unusual time of year for grills to be sold, and noted that accounts receivable were high. On April 3, 1998, hours before Sunbeam announced a first quarter loss of $44. 6 million, Shore downgraded the stock. By the end of the day Sunbeam’s stock price fell 25 percent. Dunlap had been using a bill and hold strategy with retailers, which boosted Sunbeam’s revenue, at least on the balance sheet. A bill and hold strategy involves selling products for large discounts to retailers and holding them in third-party warehouses to be delivered at a later date. In essence, the strategy shifts sales from future quarters to the current one. By booking sales months prior to the actual shipment or billing, Sunbeam was able to report higher revenues in the form of accounts receivable, which inflated its quarterly earnings. In 1997, the strategy helped Dunlap boost Sunbeam’s revenues by 18 percent. A bill and hold strategy is not illegal and follows the General Accepted Accounting Principals (GAAP) of financial reporting. Even though the bill and hold strategy is not illegal, many shareholders felt the company had deceived them so they would purchase Sunbeam’s artificially inflated stock. Several decided to file lawsuits alleging that the company made misleading statements about its finances. Lawsuit A class- action lawsuit was filed on April 23, 1998, naming both Sunbeam and its CEO as defendants. The lawsuit alleged that Sunbeam and Dunlap violated federal securities laws by misrepresenting and or omitting material information concerning the business operations, sales, and sales trends of the company. The lawsuit also charged that the motivation to artificially inflate the price of the common stock was so Sunbeam could complete hundreds of millions of dollars of debt financing to complete the mergers with Coleman, First Alert, and Signature Brands. Sunbeam’s subsequent reporting of earnings significantly below the original estimate caused a huge drop in the stock. The Securities and Exchange Commission filed a civil injunctive action in U. S. District Court in Miami, Florida, against Dunlap and four other former officers of Sunbeam. The Commission alleges that the Defendants engaged in a scheme to fraudulently misrepresent the Companys results of operations in connection with a purported turnaround of the Company. When Sunbeams turnaround was exposed as a sham, the stock price plummeted, causing investors billions of dollars in losses. 4) Albert Dunlap agreed to pay $500,000 to settle Securities and Exchange Commission charges that he defrauded investors by inflating sales at the largest U. S. maker of small appliances. The SEC alleged. Dunlap was the guiding presence at Sunbeam when it did a panoply of things wrong, SEC assistant enforcement director Richard Sauer said in an interview. A number of Sunbeams accounting irregularities, which included using â€Å"cookie-jar reserves to exaggerate the companys turnaround from 1996 to 1998, have e choes in more recent accounting cases at Enron Corp. nd WorldCom Inc. Sauer said. Sunbeams auditor was Arthur Andersen LLP, which also audited the books at Enron and WorldCom. (3) Discussion Dunlap authored a book entitled Mean Business where he stressed that making money for shareholders is the most important goal of any business. When he was hired by Sunbeam to turn the fortunes around, Dunlap’s concern was only maximizing shareholders wealth. Dunlap used the four simple rules of business which helped turn around companies in seventeen states and across three continents. The four simple rules however could not help Sunbeam. Chainsaw Al Dunlap, earned his nickname for his propensity to recklessly slash jobs. His poor management decisions tanked company stock value, sparked shareholder lawsuits and prompted a federal investigation into company accounting practices. Dunlap insisted for results and in desperation several management staff manipulated the accounts so as to show g reater profit. Good profit news can light a fire under a companys stock. Most of Sunbeam’s senior executives have compensation packages tied to stock-price and earnings targets. .ua075abbda28e005b766641373d9d9088 , .ua075abbda28e005b766641373d9d9088 .postImageUrl , .ua075abbda28e005b766641373d9d9088 .centered-text-area { min-height: 80px; position: relative; } .ua075abbda28e005b766641373d9d9088 , .ua075abbda28e005b766641373d9d9088:hover , .ua075abbda28e005b766641373d9d9088:visited , .ua075abbda28e005b766641373d9d9088:active { border:0!important; } .ua075abbda28e005b766641373d9d9088 .clearfix:after { content: ""; display: table; clear: both; } .ua075abbda28e005b766641373d9d9088 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ua075abbda28e005b766641373d9d9088:active , .ua075abbda28e005b766641373d9d9088:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ua075abbda28e005b766641373d9d9088 .centered-text-area { width: 100%; position: relative ; } .ua075abbda28e005b766641373d9d9088 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ua075abbda28e005b766641373d9d9088 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ua075abbda28e005b766641373d9d9088 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ua075abbda28e005b766641373d9d9088:hover .ctaButton { background-color: #34495E!important; } .ua075abbda28e005b766641373d9d9088 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ua075abbda28e005b766641373d9d9088 .ua075abbda28e005b766641373d9d9088-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ua075abbda28e005b766641373d9d9088:after { content: ""; display: block; clear: both; } READ: Daddy 2 EssayInvestors profit by correctly divining which companies will meet or exceed expectations and which will fall short. As for accounting firms, if they help a company meets its numbers, sometimes by ignoring or even suggesting, some pretty dubious bits of bookkeeping; then they can usually count on retaining the companys lucrative auditing business and maybe pick up a consulting contract as well. But for all the attention paid to the quarterly profit, its not much use in predicting a companys future performance and future cash flows, theoretically the basis for determining the value of a share of stock. Quarterly profit report says next to nothing about a companys prospects beyond the next quarter and even over such a short time horizon, the reports predictive value is severely limited. For a company thats trying to position itself as a turnaround story or as a fast-growing superstar, even one bad quarter is one too many. In such cases, a company may stretch its ingenuity and accounting standards to the limit in order to put the best possible face on disappointing results. It may resort to borrowing sales and profits from the next quarter to cover a shortfall in the current quarter. One popular tactic is selling goods to customers who arent ready to buy yet. To make the deal attractive to the buyer, the seller often finances the purchase interest free and, in some cases, picks up the cost of storing the goods until the customer is ready to take delivery. It often appears harmless, a matter of offering a few customers incentives to place an order a little ahead of schedule. But that seemingly innocent practice can get out of hand. The trouble with borrowing future sales to pad current results is, of course, that the loan must eventually be repaid. Companies often plan to square accounts as soon as business picks up. But sometimes business never improves, and the deception becomes more and more difficult to disguise. Thats what happened at Sunbeam. When summer rolled around, its customers already had all the grills they needed, so the company had no fresh revenue in which to bury the sales it had borrowed during the winter. From the last quarter of 1996 until June 1998, Sunbeam Corporations senior management created the illusion of a successful restructuring of Sunbeam in order to inflate its stock price and thus improve its value as an acquisition target. The management employed numerous improper earnings management techniques to falsify the Companys results and conceal its deteriorating financial condition. In June 1998, negative statements in the press about the Companys sales practices prompted Sunbeams Board of Directors to begin an internal investigation. This resulted in the termination of certain members of senior management, including Sunbeams chief executive officer and chief financial officer, and, eventually, in an extensive restatement of the Companys financial statements from the fourth quarter of 1996 through the first quarter of 1998. As a result, Sunbeams restated 1997 income was approximately one-half of the amount previously reported. Conclusion Flexibility, the great virtue of most accounting systems as practiced in most of the developed world, is also those systems weak point. In honest hands, most accounting systems are up to the job of providing a reasonably accurate rendering of a business’s financial performance. Accuracy, however, is not always the aim of those who manage a corporation or stand to gain from ooperating with management, be they board members or outside accountants, analysts or investment bankers. All may have an interest in manipulating the accounting system to produce a misleading, distorted, or downright fictional portrayal of a business’s health and prospects. Companies like Enron and others have shown how easy it is to manipulate companies financial statements. Maximizing shareholders wealth is important but it should not be at the expense of manipulating the financial pe rformance of the company. Reference 1) R. Laing, Jonathan. June 8, 1998) Did â€Å"chainsaw al† dunlap manufactured sunbeam’s earnings last year? Available online : http://www. kellogg. nwu. edu/faculty/hayes/ftp/Articles/sunbeam_barrons. html 2) Chainsaw al, He anointed himself Americas best CEO. but al dunlap drove sunbeam into the ground. Businessweek On-line (Oct 18, 1999) Available online : http://www. businessweek. com/1999/99_42/b3651099. htm 3) Roland, Neil Mathewson, Judy. (September 4, 2002) Sunbeam ex-CEO chainsaw al dunlap settles SEC case. Washington Bloomberg News. Available online : http://securities. tanford. edu/news-archive/2002/20020904_Settlement03_Roland. htm 4) Norris, Floyd. (September 5, 2002). Ex-Sunbeam CEO agrees to huge fine on SEC charges. Chainsaw Al Dunlap also cant accept executive job offers. New York Times. Available online : http://www. sfgate. com/cgibin/article. cgi? file=/chronicle/archive/2002/09/05/BU234335. DTL. q„? â₠¬Å" ¤?  §ou §Ã‚ ©Ã‚ °Ã‚ ±~ â‚ ¬ ? „ ? XYEI µ mnU? II uo? o UoNUoUoIoAo ¶Ã‚ ¬Ã‚ §oUuo—o†°? o? u? o†°? u? oe-jh„eUmHnHtHuh„eB*CJaJphh„eB*phh„eCJUmHnHuh„e? h„am

Personality And The Nature Vs Nurture Debate. essays

Personality And The Nature Vs Nurture Debate. essays Psychology is a scientific analysis of state of mind and behaviour. These studies have been taking place for over the last hundred years, the nature versus nurture debate is something that many psychologists have been unable to agree on for quite some time. A person in favour of the nature theory would believe that the genetic build up of someone is what determines his or her personality. A person in favour of the nurture theory would believe that the environment is what determines his or her personality. Skinner was a behaviourist and is probably best known for his writing on operant conditioning. He believed that most behaviour was a product of what he named ABC. This stands for Antecedents, behaviour, and Consequences. Antecedents are thought of as stimuli e.g. if someone is working in a factory and hears the sound of a bell they may leave their work area for their lunch, the bell is the stimuli (antecedents) to go for lunch. Behaviour is our actions, what we are doing. Working on the factory line or taking notes from the supervisor are both parts of behaviour linked to a day at work. Consequences are the outcome of the behaviour. Getting promoted at work, a pay rise, a good reference or even just a pat on the back from the boss are all consequences of good behaviour in the place of work. According to Skinner, we learn consequences of good behaviour by reinforcement. There are two kinds of reinforcement, positive and negative, e.g. if a child was at school and the teacher was to ask a question (stimuli) and the child was to answer (behaviour) the question correctly, then hopefully the teacher would praise (consequence) the child for doing so, this would be positive reinforcement and the child is likely to repeat this behaviour. However, if the child did not answer the question correctly and the teacher criticised the child for it, then this would be considered negative reinforcement and it would be un...

Overview of Spanish Verb Tenses

Overview of Spanish Verb Tenses It almost goes without saying that the tense of a verb depends upon when the verbs action takes place. So it shouldnt be surprising that the Spanish word for tense in the grammatical sense is tiempo, the same as the word for time. In the simplest sense, there are three tenses: the past, present, and future. Unfortunately for anyone learning most languages, including English and Spanish, it is seldom that simple. Spanish also has a tense not connected to time, as well as two types of simple past tenses. Overview of Spanish Tenses Although both Spanish and English have complex tenses that use auxiliary verbs, students often begin by learning four types of simple tenses: The present tense is the most common tense and the one invariably learned first in Spanish classes.The future tense is most often used to refer to events that havent happened yet, but it can also be used for emphatic commands and, in Spanish, to indicate uncertainty about current happenings.The past tenses of Spanish are known as the preterite and the imperfect. To simplify, the first is usually used to refer to something that happened at a specific point in time, while the latter is used to describe events where the time period isnt specific.The conditional tense, also known in Spanish as el futuro hipotà ©tico, the future hypothetical, is different than the others in that it isnt clearly connected with a particular time period. As the name implies, this tense is used to refer to events that are conditional or hypothetical in nature. This tense should not be confused with the subjunctive mood, a verb form that also can refer to actions that arent necessarily real. Verb Conjugation In Spanish, verb tenses are formed by changing the endings of verbs, a process known as conjugation. We sometimes  conjugate verbs  in English, for example adding -ed to indicate the past tense. In Spanish, the process is much more extensive. For example, the future tense is expressed using conjugation rather than by using an additional word such as will or shall in English. There are five types of conjugation for simple tenses: Present tenseImperfectPreteriteFutureConditional In addition to the simple tenses already listed, it is possible in both Spanish and English to form what is known as the perfect tense by using a form of the verb haber in Spanish, to have in English, with the past participle. These compound tenses are known as present perfect, the pluperfect or past perfect, the preterite perfect (limited mostly to literary use), the future perfect and the conditional perfect. A Closer Look at Spanish Tenses Although the tenses of Spanish and English are very much alike- after all, the two languages share a common ancestor, Indo-European, with origins dating to prehistoric times- Spanish has some peculiarities in its tense usage: The differences in the past tenses of ser and estar can be especially subtle.Sometimes, the word used to translate a Spanish verb can vary depending on the tense used.It is possible to describe events that will happen in the future without using the future tense.While the English auxiliary verb would is often an indication that the conditional tense is being used, such isnt always the case.Although the conditional tense is a common one, there are also  conditional sentences that use other forms of verbs.By using estar as an auxiliary verb in the various tenses, it is possible to form progressive verbs that can be used in various tenses.

The Main Types of Investment Products Research Paper

The Main Types of Investment Products - Research Paper Example All these four asset classes have their own combination of growth and risk associated with it. The asset allocation strategy of an investor among the various asset classes is influenced by a multitude of factors and is as much art as it is science. While investors with more risk appetite will opt for equity-based investment products, an investor who prefers stability or in other words is a risk-averse will prefer Debt/Fixed income investment tools more. However, financial companies have designed investment products that are not pure-play Equity/Fixed income/Cash instruments but are hybrid in nature and have varied components of equity, debt and cash instruments. Pooled investments are managed by professional fund managers and are considered to be safer for individual investors. These pooled investments have exposure to almost all asset classes to spread risk, maintain growth rate and liquidity. Stock represents a part of ownership in a firm. Buying stock of a given company is equivalent to being a part owner of the company, and the investor, in essence, becomes part owner of all future earning of the company. The value of an investment in stock is dependent on the performance of the company. If the company performs well, the value of the investment goes, and vice versa. Investment in stock entails higher risk as compared to other investment products like fixed income/debt/bonds and cash instruments. Additionally, money invested in stock has lower liquidity as compared to other products. However, the possible upside of investment in stock is much higher as compared to other investment products. Investment in stock should be done only after proper research on the company, its future prospects, the market it is operating in and other factors influencing the company. It is very strongly recommended to invest in a group of companies (portfolio) rather than investing in a single company. By investing in companies from different domains and with varied market capitalization, the inherent risk can be substantially managed. However, developing and managing a well spread out portfolio requires a good amount of research, insight and constant tracking that may be difficult for an individual investor. One of the best ways of avoiding this effort is by investing in Mutual Funds. A Mutual fund is an investment company or a trust in which investors pool their funds and invest them in a wide variety of securities. (District Human Resources, n.d.) Â  

Is Censorship Good or Bad for the Society Outline

Is Censorship Good or Bad for the Society - Outline Example The author of the paper states that censorship is both beneficial and disadvantageous but it should be applied for certain reasons and should be avoided for others. Several laws in the media industry have been created regarding the issue of censorship and the need for such laws has been highly demanded. On the other hand, those not in the favor of censorship state that censorship has no importance and complete viewership should be accepted by law and media. The debate regarding the question of whether censorship is good or bad for the interest of the public is viewed from several angles. Those who oppose censorship state that it violates constitutional rights.  The coalition further stated that a society that is based on pluralist grounds can never agree on any issue and will have a difference of opinion and this difference of opinion is necessary to achieve creativity and growth that is intellectual in nature. This means that the coalition believes that one of the most important r ights that an individual has is the freedom of communication and it is necessary to develop a healthy democracy. One of the concerns related to the infringing of the right to freedom of speech is that it will result in a chilling effect. The chilling effect is defined as a discouragement of conducting a completely lawful act due to fear of punishment (Margolis 103). Julie Hilden states that reactions that resulted due to the exposure and scandal of Janet Jackson allow the Congress to pass laws and regulations that are not necessary for the society (as cited in Tavani, 296). She even stated that censorship was assumed to be necessary by the Congress even if it infringes upon the right of freedom of speech and she even figured out that Congress is blaming - and imposing laws of censorship on - those parties that were not even directly or indirectly involved in the scandal. Powell has stated that he had no problems in applying liability and holding broadcasters responsible even if they were not the perpetrators of the crime (Minkin 123). Those who are in favor of censorship state that Constitution can be differently interpreted depending upon the case being argued. They even state that interpretation of freedom of speech under the First Amendment is not as easy to understand as it might seem.  

Gender segregation in children Essay Example for Free

Gender segregation in children Essay According to research children establish and maintain same gender relationships, the play in groups which are mainly composed of their own gender. Gender segregation has been observed in children as young as three years. Gender segregated social groups among children is significant within the segregated groups since children do experience different world from other peers and they have an opportunity to learn gender typed skills, roles, characteristics which are deemed by society. Gender segregation among children leads to different patterns of social interactions and play experiences promoting differences in their social, intellectual, and emotional development (Kimberley, 1995, p. 61). Children interaction is different depending on whether is a girl or a boy. Gender segregation is mostly influenced by expression of social interactions mainly during preschool activities. Cognition on play partners on children correlates with preferences of play partners. Social cognition accounts for changes in age in sex segregation (Martin, 1999, p. 751). Different interactive styles of children of different genders This examines individual variations in child pretense play and expression emerging mental representation. Children develop different interactive styles which are to some level at odds. Boys and girls react differently to situations with boys being more resistant and avoidance than girls (Martin, 1999, p. 755). There is a gender gap in the interactive styles among children. Child solitary play child are initiated y their mothers with maternal demonstration and solicitation. Mother symbolic and children language positively influence collaborative child play with verbal intelligence from child solitary play (Kimberley, 1995, p. 62). Different language/communication styles of children of different genders Communication language has been found to be harder in girls than in boys. Girls have significantly greater activation language areas in their brains compared to boys. Boys talk more and they are more assertive regarding their social interactions compared to girls (Kimberley, 1995, p. 62). Children stereotype believes about different gender roles Children learn mostly from parents with differences on how boys and girls behave being facilitated by differences on how they are treated by parents, teachers and friends (Martin, 1999, p. 760). Gender have differences on different issues like aggression, learning and they differently react to different situations (Kimberley, 1995, p. 64) Different preferences of different toys by different gender All over the world boys and girls play with different types of toys. Boys mostly prefer cars and trucks while girls prefer dolls. This is so because sociologically boys and girls are encouraged to play with different types of toys by their peers, parents or the society (Kimberley, 1995, p. 67). Theoretical (biological, social, cultural, etc. ) explanations for the gender differences Sex is believed to be natural but gender is cultural and a social construction. Differences among individuals in different gender are attributed to their choices but the differences are mainly as a result of gender conditioning. They undermine common humanity and individual freedom (Kimberley, 1995, p. 69). Children learn most things from their parents, teachers and peers. Socialization brings about sex role attitude. Parental influence changes children attitudes. Children behave based on their gender is also influenced by parents, teachers and media (Martin, 1999, p. 762). Annoted Bibliography Kimberley, K., (1995), â€Å"Gender segregating among children: understanding the ‘Cootie Phenomena’,† Journal of young children, Vol. 50, No. 4, pp. 61-69 This articles reviews on development of gender role and discusses on how boys and girls are different. It discusses on gender segregation on why children choose playmates of the same sex, how they develop different interactive styles, differ in their communication language, how they have different roles in their stereotype believes, how they differ in their preferences on toys and the theoretical explanation of gender differences. Martin, C. , Fabes, R. , Evans, S. , Wyman, H. , Fabes, R. , (1999), â€Å"Social Cognition on the Playground: Children Beliefs about Playing with Girls versus Boys and Their Relations to Sex Segregated Play,† Journal of Social Personal Relationships, Vol. 16, No. 6, pp. 751-771 This article argues on individual variation in child pretense play as expression of emerging mental representation. There is family sociodemographic characteristic, maternal affective, maternal personological and cognitive play behaviors among children. According to this article, cognitive advantages on child play and maternal influences on child play which is put in the framework of adaptive parenting.

The Offense Principle :: essays research papers

The Offense Principle claims that individual liberty is justifiably limited to prevent offensive behavior. I believe that the Offense Principle provides the correct liberty limit n principles that the state should invoke. The state should prevent behavior that causes shame, embarrassment and discomfort from pornographic material and cts.There are three conditions that are typically understood to be part of the Offense Principle. The first condition states that behavior must be significantly offensive. A person burping in public is not offensive enough to be limited under this condition. But a man urinating as he walks down the street is significantly offensive and should be limited.The second condition states that the behavior must be offensive to almost everyone. This is an important condition because I think that if only a few people find something offensive, does not constitute the act to be limited. Many people may believe that someone picking his nose in public is offensive but not almost everyone believes this act to be offensive, therefore, this act could not be limited. A man masturbating in public is offensive to almost everyone, therefore, this act should be limited.The final condition states that an offensive act should be limited if you have to go out of your way to avoid the act. An "adult" bookstore containing pornographic material should not be limited because one does not have to go out of their way to avoid the store. They simply just do not enter into the store. But a man and woman having sex on a bench should be limited because one would have to restrain from looking in certain directions to avoid seeing the offensive act.I believe that pornography in public should be banned. This includes stores that sell pornographic material. Instead, these magazines and other pornographic materials should be kept separately in a private room, where you must be an adult to enter and purchase materials. Pornographic material that is kept privately either to be sold or to be viewed or used in the privacy of one's home, should not be banned. I see absolutely no reason why a person should not be allowed to view pornographic material in the privacy of their own home.Some people may argue with me and say that the Harm Principle should be invoked by the government. They may say that pornography increases the likelihood of harm. And I somewhat agree. I am sure that some harm has occurred because of pornography.

Individual Fundamentals of Macroeconomics Paper

Part 1 ?  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Gross domestic product (GDP) – GDP is the total market value of all final services and goods produced in a given year in a given country. ?  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Real GDP – Real GDP is the result of the production activity within a given country at a specific years prices. If one compares two or more periods of time using the same year’s prices for goods and services then the result is a purchasing power comparison as seen over time. This happens because the inflation effects have been mitigated by using constant prices.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Nominal GDP – Nominal GDP is simply GDP that has not been adjusted for inflation. Nominal GDP does not reflect purchasing power but does show how an economy has expanded and contracted in dollars. ?  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Unemployment rate – The most basic definition of an unemployment rate is those people who are unemployed but are actively seeking work and willing to work. It is typically expressed in the form of a percentage. ?  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Inflation rate – inflation is usually expressed in an annual percentage and is the price increase for goods and services.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Interest rate – An interest rate is the percentage of the principal funds that is charged and paid for the use of money. It is expressed as an annual percentage rate (APR) for loans and annual percentage yield (APY) for interest earned. Whether one is experiencing a decrease in their taxes, is part of a massive layoff of employees, or is simply purchasing groceries, there is a resource flow from one entity to another and back again. Those entities cover government, businesses, and households.How those resources ebb and flow will differ with each situation and have an impact in a â€Å"trickle-down† effect from the government to businesses and finally to households. Decrease in Taxes When the Government decides to reduce taxes, the tax typically assumed to see the reduction is the income tax. â€Å"According to the  Internal Revenue Service (IRS), approximately 43% of tax revenues are generated through this tax. Personal income taxes are levied against income, interest, dividends and capital gains, with higher earners generally paying higher tax rates. (Investopedia, 2012) When a tax reduction occurs, the government will collect less taxes which reduces the amount of monies available for entitlement programs. Households can be affected in a couple of different ways. If a household is a higher wage earning household then less taxes can result in more discretionary income to spend at businesses who offer services the household members wish to utilize. If the household is lower income the decrease in taxes will increase their income but will adversely affect any entitlement programs in which they may be enrolled.For businesses, the reduction in income tax will affect their businesses per the consumer impact. If there is more discretionary income then more money is available to spend on their goods or services. If there is less discretionary income, then of course, the opposite would be true. Massive Layoff of Employees From a government standpoint and governmental employees, when there is a massive layoff of governmental employees, historically, there has not been more than a ripple in the unemployment rate overall.A 1995 survey and a subsequent 1999 follow up to municipalities in Illinois found that the average amount of people still unemployed after a governmental layoff was only 3. 8%. (Reason Foundation, 2012) From a governmental employee standpoint, there is not a large scale economic impact which means that the majority of affected governmental workers will still have income to spend at businesses and for their household needs. When private sector businesses have a massive layoff occur, they are required by Federal law to notify the affec ted employees 60 days in advance.The employees have an opportunity to look for other jobs in that timeframe, however, resources will begin to be held back by the households in the case of long term unemployment which will in turn cause business who offer the good and services to the affected families to experience a decrease in sales. Purchasing of Groceries Groceries are an inelastic product. People will purchase food regardless of the price because they need to eat.When a household purchases groceries, and pays a higher price for them in one grocery store versus another, the business which earned the opportunity for the sale will benefit. The government does not benefit from a tax standpoint on non-processed foods. Processed foods, however, are taxable; which is a benefit to the government. The Government may also pay a producer not to produce a food so as to stabilize the market. A couple of examples of this situation are in the commodities of rice and wheat.Producers are paid no t to plant as much so the market price of the end product is stabilized. In fact, those producers are paid not to produce so there is no loss of income to those households. Conclusion Whether one is experiencing a decrease in their income taxes, is part of a massive layoff of employees or is simply purchasing groceries, there is a resource flow from government, businesses, and households. Resource flow also has an ebb phase. The entire cycle is driven by an almost an amazing number of determinants.These determinants all have an effect on the final outcome as to where and how the Government, businesses, and households use their finite resources. References Richard Coultier, Do Tax Cuts Stimulate the Economy? (June 23, 2010) Retrieved on January 23, 2012 from http://www. investopedia. com/articles/07/tax_cuts. asp#axzz1kIPnIgcg The Reason Foundation, Privatization and Layoffs (March 1, 2001) Retrieved on January 23, 2012 from http://reason. org/news/show/privatization-and-layoffs

Family Guy Essay

Family guy is a dysfunctional family that lives in Quahog, Rhode Island. The parents: Peter and Lois. The children: the oldest, Meg, the middle child, Chris and the baby is Stewie. Last but not least, the dog Brian. This TV show exhibits crude, adult humour. There are many different opinions on this show, many parents are ok with letting there children watch it and other refuse to do so because of the kind of humour some parents are on edge. So is family guy a negative influence on children? I believe it does have a negative influence on kids. To start the language they use, secondly the violence and actions towards each other and other and also it is a very sexist show. Firstly, the language used in the episodes of family guy is a very vulgar, crude, dirty and coarse. They swear a lot for example when Brian talks to Megs friend he says, quote â€Å"you know Connie, I think I have a theory about why you’re such a bitch†. If kids watch this on TV by fictional characters they can’t tell that its not the way to talk so they can repeat it at school or even say it to there parents and they do not want their children to talk that way. Also the language they use that discriminates different races, religions and gay people is negative on the children watching this show it gives them the impression that it’s ok, so if in school or at the shopping center they see a person of colour or even if they know a person of different religion they might talk to them and say things that are very inappropriate. For example where the children could get it from, episode two of season eight , the whole episode is about Jewish people, Louis finds out that she and her mother are Jewish and wants to peruse fallowing the Jewish culture but then peter says to her â€Å"Jews are gross Lois. It’s the only religion with the word ew in it. And there are also the comments that discriminate against people of colour and to do so they use Kermit the frog, the black man sitting in a boat (looks like he is escaping from being a slave) asks him â€Å"which way to get into town? † Kermit replies with a shot gun in his hand â€Å"back from where you came from†. This is just a tiny bit of what happens in the show. This show is very negative on children and they way they will interact with other in public. They also make fun of amputees, this can be very harmful to the way children interact with other kids that have this kind of problem example Joe is Peter Griffins neighbour and there is an episode that says no legs no service. Also, this show is a very sexist show, they always make reference to women being in the kitchen and that is all they’re good at for example, in one episode peter tells Louis that making sandwiches and babies are the only thing she is good for. This kind of behaviour shows to young children that women are no good for anything because that is how the men on this show treat the women. There’s also lots of coarse language towards women, for example Quagmire a neighbours always has many women over to his house for pleasurable reasons and you hear him call them names like whores, bitches, sluts and more this foul language towards women is another bad influence. Also peter has a teenage daughter Meg, everyone in the show is mean to her. This girl is treated very badly for example in an episode she had sexual intercourse with a guy and a little after that the guy Brandon, broke up with her, in another episode she has another boyfriend Luke and Louis, her mother stole him away from her. Peter never listens to her and Brian always picks on her. This gives the children watching a sense that’s it is ok to treat women like dogs because in the end they stay with you. Because no matter what kind of pranks or insults Peter does to Louis she never leaves him. Lastly, the amount of violence and the stupid actions that the characters do is a big part of family guy there’s always someone getting hurt or doing something illegal for example doing drugs. They have an episode dedicated to four-twenty; there are many episodes that show peter, Louis and Brian doing weed and other drugs like meth and cocaine. Also one of the episodes shows peter bringing Stewie his baby to a man that injects him with steroids because he was beat on by another baby but it was a girl and peter wanted Stewie to be a strong baby. This give the impression to children that taking drugs is ok because family guy does it. Nothing bad ever happens to these characters only funny events or they come out of it. It doesn’t show them the side effects or any of the real effects it has on them so kids think its only play and when its offered to them by others like friends they will take it and this can all lead to hospitalization and even death. But the children won’t see that on TV. Also there’s an episode that Stewie shoots Louis and pushes her over a boat into the water and dies but there’s a turn around and at the end of this episode Louis is really alive. If a child who doesn’t know any better sees this he will not understand that it is not real and that if you shoot someone they will most likely die. So if this child happens to find a gun in his father’s drawer and starts playing with and they’re playing cops and shoots the other child he will not think anything of it because in family guy the character came to life again, but in real life the child is dead. This will have a negative effect on the child and all he thought was that he was playing. The violence in this show is for an older audience, it will only have a negative effect on younger children. In conclusion, family guy is a show full of violence, drugs, sex, coarse language, racism and more. It should only be viewed by an older audience and not younger because it makes younger children who don’t know what is real and what’s not and what’s wrong and what’s not, react to different situations. So should TV shows like family guy be cancelled completely?

Use of Simulation in Military

Use of Simulation in Military The military has got a variety of applications which require new technology such as simulation. The uses include training the officers, rehearsing for military operations, testing and conducting evaluations and analyzing the effectiveness of war activities. Military training can be classified into training at the units or technical training. Technical training is usually structured from the time it begins till its end while training at the unit involves practical use of the tools that the trainee will be expected to use.Advertising We will write a custom essay sample on Use of Simulation in Military specifically for you for only $16.05 $11/page Learn More There are various types of simulation used by the military in its operations and in offering training to the officers. The simulation can be subdivided into two the first sub division comprising of systems and the people. The second sub division can comprise systems and people combined together and it can a lso be in such a way that there is neither people nor systems or one of the two. The first type of simulation used in the military is live simulation. This type of simulation is comprised of systems and people that are alive in a situation involving a large group of people taking part in a simulated battle. The simulated battle employs live weapons and other equipment used in war. This type of simulation is intended at preparing the officers for war. It is a real encounter that soldiers experience without necessarily going to battle fields. Militaries of different countries establish several locations in their countries to offer this type of training (Hang, 2011). The second application of simulation in the military is the use of virtual simulation. It is among the most widely used new technologies in the military. It is used by military personnel to offer training to soldiers and aviators to guarantee success in the battle fields. Virtual simulation is used in conjunction with tank simulators which are used in training soldiers effective use of battlefield tanks. Virtual simulation has made it possible for soldiers and operators of the tanks to network and take part in simulated wars even when they are in different locations. The wars would otherwise have been impossible because of the costs involved in transporting the soldiers and purchasing the required equipment were they to be conducted live. The training offered through virtual simulation enables the soldiers to acquire new skills that are crucial in war by participating in the exercises (Sokolowski Banks, 2009). During the periods when soldiers were exposed to live exercises, many injuries and even deaths were reported in training sessions. Although the live exercises are still carried out in the military, they have been made less dangerous because soldiers first go through training through virtual simulation. Virtual simulation saves huge amounts of money that would have been used in live training an d gives soldiers the required fighting skills.Advertising Looking for essay on computer science? Let's see if we can help you! Get your first paper with 15% OFF Learn More The other type of simulation used in the military is constructive simulation. This type of simulation brings together weapon systems and military personnel which are simulated. It is based on computer systems where simulated fighting is employed in training military personnel who command in the fields and other military staff. The training is offered in areas such as logistics, strategic planning and making plans on other tactics used by the military personnel (Simpson West, 2011). Some of the reasons that justify use of simulation in the military include cutting down the costs incurred in operations, offering feedback to instructors as well as taking care of the environment. For example, the cost involved in operating simulators is relatively lower as opposed to carrying out live operatio ns. Simulation also guarantees safety since it is much safer to undertake some operations on the simulator while the same operations are dangerous when conducted live. The simulators are also environmentally friendly since they do not produce smoke like aircrafts. References Hang, H. (2011). Simulators always valuable in military training. Available from  https://www.army.mil/article/19599/simulators_always_valuable_in_military_training . Sipson, H., West, W. (2011). The Use of Simulation in Military Training: Value, Investment, and Potential. Web. Sokolowski, J., Banks, C. (2009). Modeling and simulation for analyzing global events. New Jersey: John Wiley and Sons.

An Assessment between the Movies, Japans War in Color and Why We Fight

An Assessment between the Movies, Japan's War in Color and Why We Fight The films â€Å"Why We Fight† and â€Å"Japan’s War in Color† are vastly different from one another due to objectivity of the films. The ways that these two films present themselves give hint to the purpose that these films were trying to make. The film, â€Å"Why We Fight† was commissioned by the Department of Morale, and was meant to give reason for America’s involvement in Asia. The film’s purpose is obviously meant maintain and gain support for the war effort on America’s mainland. The film is targeted at American citizens living in places like Atlanta, Georgia, Washington D.C., or in Portland, Oregon. The film, â€Å"Japan’s War in Color† offers an analytical approach to the various causes of the war in Asia. The objective of this film is to provide a more accurate depiction of the causes and effects of the war in Asia. This film being targeted towards scholars of this area of history. The first contrast that needs to be made between these two films is the nature of their narrators. It seems to be that in the film â€Å"Why We Fight†, the entire dialogue is made by what seems to be a masculine American voice. When the narrator is interrupted, it is in place of an American source, such as the ambassador of China speaks about Japan’s occupation in China. Even when the US ambassador is speaking, he seems to be reading allowed cue cards. Now this is purposively done in order to make the US a hero as much as possible. Even the use of a masculine voice is done purposively to bring about sentiments of honor and duty. Now in the other film â€Å"Japan’s War in Color†, different perspectives are given, which themselves are spoken in a Japanese dialect. Both sides are shown, such as small pockets of rebellion against the military emperorship of Japan, and even hardline militarist Japanese testimonies. What makes that special is that little room fo r biases are left, since both sides are shown in equal proportions. Now this is done simply because this how the academia works, evaluation and detective work must be done. Next what needs to pointed out is what type of footage is shown between the two films. I could not but help but get a sense that military demonstrations were the bulk of the film â€Å"Why We Fight†. Then oddly enough, a few scenes seem to be taken from Hollywood films, especially when they were describing the old Chinese culture. One scene describing the Great Wall of China, the footage of men on horse back in what seemed to steppe bandits looked very Hollywood clichà ©. But the over use of military demonstrations, marches, soldiers storming trenches, close ups on Japanese soldiers looking menacing is done with the objective of making the US seem a hero in comparison of the Japanese. Even the depiction of the Chinese make it seem that they are under the US responsibility. The use of debasement is placed on the Chinese, sense one they are not given any representation other than the narrators own view of them, and makes it seem that they can not help themselves from the Japane se forces. The footage in the film â€Å"Japan’s War in Color† is extremely different from â€Å"Why We Fight†. First off, footage of typical Japanese life is shown, such as people working in the fields, footage of Tokyo on a normal day, footage various festivals. The footage attempts to encapsulate the whole human experience in the 1930’s and early 1940’s in Asia. Indeed, there is footage of war, but in this film it is hard at times to distinguish who is harming who. War is depicted as messy and full of collateral damage. Much rather this film isn’t attempting to call for more war, but expose the vices of war. While trying to find some similarities between these two films, they only seem to agree based on the large historical facts, for example Japan’s occupation of Korea and Manchuria, Japan being the single most powerful state in Asia, and Japan’s imperialist campaign in Asia. But how these are expressed and analyzed are in different formats. For example, in â€Å"Why We Fight† these events are expressed in a outsiders point of view, which in this case is described as Japanese aggression. In the film, â€Å"Japan’s War in Color†, opinions are expressed from mainland Japan, people in China, intellectuals, soldiers on both fronts opinions are expressed to see their motives and explanations for taking part in the war. In summary, the contrasts overweigh the similarities between the films. These two films have two complete different objectives. The makers of each film had in mind a certain way of depicting the war in mind. In the â€Å"Why We Fight†, it was a propaganda film meant to maintain support for the war in America. Certain things were done to achieve this such as refusing to use Japanese sources, focusing on the military aspect of Japan, and debasing the Chinese as helpless people needing American assistance. The film â€Å"Japan’s War in Color† was a academic piece meant to expose the different views that were held during this time in Asia. To explore both the militarist, the common folk, the liberals, the radicals, and the unaccounted for. The film was meant to explore the human experience that occurred in this time of human civilization.

Unilever and Nestle are facing political and economic challenges in Essay

Unilever and Nestle are facing political and economic challenges in middle eastern and north African countries - Essay Example Financial productivity is the main aim of every financial establishment. For the past several decades, Unilever and Nestle companies have operated on good financial bases. On average, Nestle gets 28% of its finances from European markets, 44% of the revenues from the Americas and 28% from Africa, Oceania and Asia. Likewise, Unilever makes a large portion of its profits from Europe and the United States of America (Nestle 2006, 12). There is relatively low revenue collected by both companies in the Middle East and North African countries. These parts of the world are particularly unproductive for Unilever and Nestle given the political instability in the regions. Governance of countries in the Middle East and North Africa do not encourage Foreign Direct Investment given unpredictable economic policies (Unilever 2013, 32). Given the instability of political environment in North Africa and Middle East, economic situation of the populations around the regions curtails the purchasing power of the inhabitants. A complete essay of this paper will answer the question: How do Unilever and Nestle face political and economic challenges in Middle Eastern and North African countries? It places a hypothesis that economic and political challenges in these regions have negative effects on investment of the two companies in the