Motivation Letter Essay Example for Free

Motivation Letter Essay Motivation Letter Application For Studying In University Paul Cezanne Aix Marseille To whom it may concern: In addition to all my documents provided, I would like to take this great opportunity to write a motivation letter to clarify my main reason that drives me to study in University Paul Cezanne Aix Marseille. After graduation from _____ University major in Industry International Trade, I acquired knowledge in an extensive business area, for example, accounting, finance, international trade, corporate management, law etc. I worked at Credit Control department at Accenture Consulting Company for around 2 years. My responsibility includes providing customer service to UK clients, collecting overdue debt, applying cash payments, making financial adjustments and analyzing credit status for customers. My interpersonal skills improved greatly and English skill was polished as well through daily contact with British customers. Currently I have been worked as assistant product manager at Golden Label 5 International Trade Company. My responsibilities are to communicate with the sales team, the distributors and the promotional girls in order to motivate them and to let them be more and more aware of our brands images to manage efficiently the existing marketing tools to participate in the development of new marketing tools and participate in the development of the promotions for the day market. I believe that my current working experience is the main reason that drives me to study in France. By choosing to study University Paul Cezanne Aix Marseille there are a few advantages that I can achieve my goal: My current job is to assist my French boss (marketing director) to communicate with the sales team, the distributors and the promotional girls in order to motivate them and to let them be more and more aware of our brands images. Meanwhile boost and maintain our brand image. In order to cooperate better with my boss, I started to learn French since last June. Although we still discuss in English during daily life, my French language does help me a lot when I explain some authentic French traditional wines and spirits knowledge to customers. I know more and more about French, French culture, French wine, etc. And I believe that what I will obtain in University Paul Cezanne Aix Marseille give me a global view of International corporate management and have a multi-culture background. France is a multicultural country, and University Paul Cezanne Aix Marseille is a well-known multicultural university. I can learn how to interact within different cultures to improve my interpersonal skills. I also can build up a network that comprises friends from different countries and areas. France has good relationship with China. And now China is becoming certainly the biggest potential market for France. With my multi- culture background and French experience and skills, when I have completed study in France and returns China, I can participate into the development of business cooperation or any other relationship. In short, by choosing to study in University Paul Cezanne Aix Marseille, I will benefit greatly from the extraordinary experience for building up my professional career, and I will help to build China, my motherland, into a well-managed market economy country. I am looking forward that my application can be assessed and approved at your earliest convenience! Kind Regards Li

Overview Of Tata Steel Pre Merger

Overview Of Tata Steel Pre Merger TATA Steel, earlier known as TISCO, is the iron and steel production company which is the flagship concern of the TATA group, Indias largest private corporate group. Tata Steel was established by Indian Parsi Businessman Jamsetji Tata in 1907. As of 2005, TATA Steel was Asias largest private sector steel company. The company was also recognized as the worlds best steel producer by World Steel Dynamics in 2005. Tata Steel has set an ambitious target to achieve a capacity of 30 million tonne by 2015. To this end it acquired Singapore based NatSteel in 2004 and acquired a 40% stake in Thailand based Millennium steel. Through these two acquisitions, TATA steel added about 3.2 million tonne to its production capacity. As of 2006, TATA Steel had a production capacity of 5.3 million tonnes. After the Corus acquisition (18.2 million tonne), the net acquired capacity was 21.4 million tonne, and TATA Steel plans to add another 29 million tonne by this route. Thus we see that TATA Steel seems to have a definite strategy of increasing capacity through acquisition and is acting on it rapidly. At this point we will conduct a resource based analysis of this strategy. A resource based view of strategy emphasizes the internal resources of a company in the formulation of strategy in order to achieve a sustainable competitive advantage. The following model makes this process clear:- Resources Resources are the input which an organization uses to carry out its activities. And yet organizations in the same industry might have similar resources but have differing performance, since they may utilize their resources differently. For a resource based view, Assets available to a business may be classified in the following form  [1]  (Resources in management TRIZ, Business level):- TATA Steel Particulars Pre Merger Post Merger Tangible assets (in Rs. Crore) Fixed assets 9865 11040 Current assets 2174 2332 Financial assets (in Rs. Crore) Assets (cash) 288.39 7681.35 Net Worth 9755 14096 Intangible Location Jamshedpur Jamshedpur Size World 56th largest World 5th largest Competition None domestically None domestically Thus we can see that prior to the merger TATA Steel was a very large domestic steel player, in fact the largest in India. The location advantage conferred by the plant being in Jamshedpur was aptly put by Mr. Ratan Tata, who said that the owners of iron ore will be the rulers of the steel industry. Its captive raw material resources and state of the art 5 million tonne plant at Jamshedpur gives at a competitive edge. This capacity is slated to go up to 7 million tonne. In addition, TATA steel has extremely good relations with the government in the region by virtue of its long standing developmental efforts in the region. As a result, TATA Steel has acquired a great deal of goodwill among the local population and consequently, the government. This is apparent in the Greenfield projects which the group is setting up in the region:- 6 million tonne plant in Orissa (India) 12 million tonne in Jharkhand (India) Capabilities However, the best resources in themselves are of no real value to a company in and of themselves. The organization must have the capability to employ these resources properly. It is these distinctive capabilities of an organizations resources which result in a competitive advantage. But this advantage is sustainable only if this capability comes from some characteristic other firms do not possess. TATA Steel is one of the lowest cost steel producers in the world. It is also one of the even fewer steel companies which are EVA positive. It has an operating profit margin of nearly 40%  [2]  (avg. = 16%). As an indication, only two manufacturers in USA (and none in India) have higher margins. At the same time, growth rate for sales was 232% and net income was 590%  [3]  . Adding this information to its captive raw materials resources as explained previously, we can see that TATA Steel had a unique position as an extremely low cost steel producer in an extremely fast developing region of the world. Tata Steel holds a very vital place in Indian business history, because it has introduced some of the unique concepts like 8-hour working days, leave with pay and pension system for the first time in India and the first player to start rapid industrialization process. In the later part, the concepts invented and implemented by the Tatas became law and compulsory practice for the Indian employees. A direct result of these employee friendly practices is the goodwill which TATA Steel enjoys among its workforce. In consequence, the Jamshedpur plant furnaces have never been closed down due to industrial strife. Thus we can see the two major capabilities which enable TATA Steel to employ its resources effectively extreme operating efficiency and employee friendly policy. Another point of note is the extremely cash rich status of the organization even prior to the acquisition with an interest coverage ratio of 32, and a growth rate of 380% for net cash flow from operations. Competitive advantage At this point we can clearly see the sources of competitive advantage for TATA Steel prior to the merger. Therefore let us examine its position in the market prior to the merger, with the Porters five forces model. 1) Threat of entry of new competitors The steel industry is one which has a very high entry barrier. In addition, established players already enjoy customer loyalty, and hence it will be difficult for new players to gain market share. On the other hand, the sector promises high returns in future. 2) Intensity of competitive rivalry In terms of price, quality and innovation TATA Steel had no domestic competition as of 2005-06. However, on a global scale, it was just so small in terms of volume that it could not bring into play the economies of scale of the truly major players. 3) Threat of substitute products This threat is well nigh negligible with respect to steel. 4) Bargaining power of customers The steel industry is one of periodic swings in demand. However, with an average growth rate of 7% expected in countries like India, China and Brazil in the foreseeable future, we can safely assume that price of steel will continue to rise. In fact, the price of steel has doubled over 2006-2008  [4]  . However, it is also accepted that consolidation in the steel industry will lead to stabilisation of world steel prices and higher bargaining power. This is necessary because the buyers are consolidating e.g. auto makers are consolidating with six to seven global majors. 5) Bargaining power of suppliers The three major iron ore suppliers CVRD, Rio Tinto and BHP Billiton have a 75% market share and 40% margins. Clearly, small players are at a distinct disadvantage. Strategy In this context, let us examine the strategy of acquisition as proceeded upon by the TATA Steel management. First, TATA Steel had proximity to low cost iron ore, and the capability to take advantage of it. As a result, TATA Steel had acquired leadership status in the Indian market. In terms of the BCG Matrix, it would be considered a star. However, if it does not grow into the international it would, sooner rather than later, become a cash cow. In order to remain a star, it would have to grow its capacity and become a world major. However, before the Corus acquisition, it was only at 56th position in capacity. In terms of the world market, TATA Steel would find market penetration in Europe or America extremely difficult. In addition, as explained via the Porters five forces model, steel producers are on the wrong side of the equation both with respect to the buyers as well as suppliers, who are well consolidated and hence in a position to dictate terms. Hence, it is necessary for global steel players to consolidate as well, and thereby acquire a position of strength. This would decrease price fluctuations and increase earnings multiples. Hence, considering resources (cash, technology) present with the company, the competitive advantage it enjoyed (low cost, high margin) and the market conditions (consolidation), acquisition of some major manufacturer and jump into the big league was the only choice. Strategic Decision Undertaken The strategic decision we will be considering for the purpose of this project is Tata Steels decision to acquire Corus and the how they went about the entire process. The reasons behind the takeover will be viewed in detail along with a resource based view of the resources so collated by the newly formed company now known as Tata Europe. I really believe that the owners of iron ore are going to rule the industry. They will be OPEC of the steel industry. (Ratan Tatas interview to McKinsey Quarterly quoted by Wheatley in Financial Times, January 29, 2007). This statement made by Ratan Tata expresses in clear words the true reason behind the adoption of this strategy. Corus- An overview Corus headquarter in London, Europes second largest producer of steel and the 9th largest in the world was founded in the October 1999 via a merger between two companies British Steel and Koninklijke Hoogovens. This merger was a result of the privatization of Steel producing companies by the U.K government. In the year 2005 its revenues stood at  £9.2 billion. Corus had a divisional structure which comprised the Strip Products division, the Long Products division, Aluminum Division and the Distribution Building division. Corus customer base ranges across countries of the world and its core businesses include the manufacturing, development and allocation of steel aluminum products as well as services. It has a diversified product services portfolio which comprise manufacturing of electrical steel, narrow strip, plates, packaging steel, plated steel strip, semi-finished steel, tube products, wire rod and rail products and services and also design, technology and consultancy servic es. To support this elaborate array of products services, Corus employed about 42,600 employees in sales services centers across 40 countries. The main strength of the company lay in its international expertise with local customer service and its brand which stood for quality and strength Through the period of 200 2006 Corus grew via a number of acquisitions which did add to its large pool of long term debts, but nevertheless it has a wide range of customer segments ranging from commercial and military aerospace ventures, the automotive, construction, engineering, defense and security, as well as the rail and shipbuilding industry. Some of the Financial Information available in respect to Corus in the year 2005 has been put in annexure 1. Acquisition Based Dynamic Capabilities Tata Steel has often used the Acquisition strategy to expand their products and markets or gain other advantages and have in most cases been good at it. Looking at this strategic decision from Acquisition Based Dynamic Capabilities approach we find that over the years the Tatas have well groomed these capabilities into their system. There are three factors to consider here: Acquisition Selection Capability- Tata steel was correct in timing the merger as it was due to emerging trends in the world steel industry with the increasing consolidation in the market. With a eat or be eaten mentality it was essential for this strategy to be adopted in order to become the 5th largest producer of steel and give competition to post merger entities like Arcelor-Mittal etc. Also there would be multiple points of contact with their firms existing resources and those of Corus owing to the long list of synergies as listed in the following pages of the report. Acquisition Identification Capability- The most appropriate target for the Tatas was definitely Crus as there was the horizontal integration with respect to the R D capabilities that the Tatas were keenly interested in adding to their resource base. The Due Diligence was well carried out as though there were certain cultural issues in the way, the top management of the Tatas were fact to act in a manner to resolve the issues. Some of the steps they took involved retention of crucial executives of Corus to help in a smoother integration process and also aid in running the newly formed entity. Also the Tatas did not over pay for the deal as the market value of it exceed the price they paid, and the yearly savings expected from it were substantial. Apart from that they were able to gain access to wider distribution networks and newer markets. Acquisition Reconfiguration Capability- This is one of the most crucial aspects which can determine the success of failure of a merger. It involves the acquirer to be able to merger its resources with the new ones acquired and do so in a productive and efficient manner in order to enhance the functioning of operations etc. Tata Corus Merger Tata steel started the acquisition process in the year 2005 but since Corus had been involved in a number of its own acquisition processes the deal was finally closed with the acquisition of Corus on the 2nd April 2007 as per official records. The price paid or the same was considered to be too high at an overwhelming $12 billion out of which the Tatas financed the deal with only $4 billion. This strategic decision undertaken by Tata Steel raised their rank from the 56th to being the 5th largest steel producing company in the world. In all fairness it is necessary to note that this acquisition did not come to the Tata with ease, as though the bidding started at 455pence per share, by the time the deal came to a close it had resulted in gaining a price of 608pence per share. This 33% hike in bidding rate was caused due to the emergence of another bidder, the Brazilian Steel maker Companhia Siderurgica Nacional (CSN). The Counter Bids The deal so made was a 100% acquisition and the newly formed entity now renamed Tata Europe is being run by one of the subsidiaries of Tata Steel. As Corus had been looking to make an exit, Tatas acquisition proved to be a profitable opportunity. The expected synergies deemed the deal to be beneficial for the Tatas as although some said that the Tatas overpaid, it was clearly communicated by the Tatas that they had paid much less than the replacement cost (market value) of all the assets they were able to acquire via this merger. Reasons For This Merger Strategy- The Global Trends The Steel market in the world had been witnessing some very strong trends which called for such a merger. There are a series of mergers which happened in the world steel industry which include some of the following: In 2004, Mittal bought International Steel Group, an American company which included assets of the previous Bethlehem Steel. Mittals merger with Arcelor ($36.1 billion offer) in 2006 created the largest steel company in the world. In October, 2006, Russian steelmaker Evraz Group bought Oregon Steel Mills of the U.S. for $2.3 billion. Nucor, the second largest US steel producer, acquired Harris Steel Group of Canada for $1.07 billion in January 2007. Severstal, the largest Russian steelmaker had invested $800 million in a new plant in Mississippi and $900 million in a plant near Detroit. Essar Group of India has made a $1.6 billion investment in Algoma Steel of Canada (2007) as well as $4.65 billion offer to buy Minnesota Steel Industries. On May 4, 2007, Swedish steelmaker, SSAB, made a $7.7 billion cash offer to acquire Ipsco of Canada. Global Steel Production in 2005 Hence we see that the environment of the steel industry was amenable to consolidation. There was a strong desire among key players to gain efficiencies resulting from steel production. Some of the reasons for such a trend towards acquisitions were: Obtaining access to new and growing markets Enhancing purchasing power with respect to suppliers and buyers Growing economy of China and India during mid-2000s Higher degree of price stability better margins Attractive to Investors Eat or be eaten mentality A desire amongst the key players to gain efficiencies resulting from scale Steel prices have been on an upward trend as can be seen in the following graph. This phenomenon started in the year 2004 and slowed down due to the economic crisis in 2009. But a great deal of volatility has been witnessed in the market and had been another major reason to consolidate so as to have a greater hold on the market dynamics. There was also lot of speculation in the market about China, the worlds largest producer of steel to increase its capacity resulting in a dip in world prices of steel. Growing economies like China and India did make up for a major demand for steel and to meet this requirement China was even importing steel from outside. Following is the graph of 2006-2008: Prior to the beginning of the deal negotiations, both Tata Steel and Corus were interested in entering into an MA deal due to several reasons. The official press release issued by both the company stated that the combined entity will have a pro forma crude steel production of 27 million tons in 2007, with 84,000 employees across four continents and a joint presence in 45 countries, which makes it a serious rival to other steel giants. Post- Acquisition Scenario A Resource Based Perspective Before After EBITDA 13% 25% Capacity 7 MTPA 25 MTPA Position 56 6 Business Resources with sub-categories in Management- TRIZ Concrete Level Business Specific Level Tangible Assets Fixed Assets Assets: 23741.48 cr Cutting edge technology- providing metal solutions Low cost upstream Tata facilities with high end downstream processing facilities of Corus RD facilities of Corus Intangible Assets Human Distribution networks, Research and Development capability of Corus to be leveraged for Tata Steels green field projects in Orissa, Bihar and Jharkand Finances Capital, Obligations and Savings To finance the deal worth $12 billion the following sources were used: Equity by Tata Steel: $ 3.88 billion Bank loans: $ 8.12 billion by Credit Suisse, ABN Amro and Deutsche Bank Long term loans obligation to be paid by Corus cash flows Obligations: Total interest obligation: $ 640 million to the already existing interest obligation of Corus amounting to $ 400 million Pension liabilities of Corus $ 24 billion Cost Synergies: Production cost $ 710/ton which is far less than a green Field project which would cost around $ 1200-1300 per ton Savings of $350 million per year through synergy General Characteristics Location of Operation Main Center India; UK, Netherlands and South East Asia Markets Innovative solutions to: Construction, Packaging, Automotive, Aerospace Energy, Engineering, Defense and Security, Consumer Products, Ship Building, Rail Greater access to market and Significant presence in over 25 countries or regions Products Bar billet, Business services, Construction products services, Electrical steels, Packaging steels, Plates, Plated steel strip, Pre-finished steels, Rail products services, Sections, Semi finished steel, Specialty, Strip products, Support products, Tube Products, Wire Rod Size Post Acquisition Sales Rs 8105.30 cr Production Capacity 26 million MTPA Competition Position 5th largest Steel Maker with a production capacity of about 26 Million Tons Per Annum Strengthened position in construction, automotive and packaging construction sector Management Resources with sub-categories in Management TRIZ: Concrete Level: Management Specific Level: Planning and Coordinating; Strategic Planning- For the growth and globalization the route of acquisitions was taken up and the logic has been explained before. Post acquisition the top management of the acquired company was retained for effective integration of processes Operational Planning-. The Tata Steel and Corus operations were being run as one virtual company with performance improvement tasks being undertaken in each location. The aim was cross-fertilization of research, development of capabilities across functionalities and transfer of best practices from Europe to India. Organization- Company Operational Structure- 15-18 teams were formed with 3-4 members each with joint representation in teams to look at various synergistic avenues Company Organizational Structure- Corus Tata SteelIntegration Team- 7 members Several Task Force Teams were also constituted for integration. Organization and Environment- Government and society- The acquisition had a very positive response from India, Indians felt patriotic towards this investment. In fact the Indian Trade and Commerce minister Kamal Nath commented that the global perception of India is now changing. This way the Indian government and society was quite supportive of the deal, in spite of critics commenting that the deal was over-priced. The historical ties between India and UK were also becoming stronger, Trade and Industry were looking up. Markets- the Tata Steel stock attained a 52 week high of 721 on March 2007, showing positive investor response. SPs credit rating also improved Informal Organization Culture- Both the organizations had similar performance culture with respect to aspirational targets, safety and social responsibility, continuous improvement and openness and transparency. However, there were some cultural issues: Inherent in the mind of the employees. Resentment of being governed and managed by a former British colony Insecurity of production centers shifted out of the UK to low-cost centers. The labor unions in Europe raised their concern regarding this. Other Characteristics Compensation mismatch 18.5 % employee expense (Corus) 7.9 % employee expense (Tata Steel) Recent developments: In 2010 Tata Group has announced that the name and logo of TATA Steel will be used use for Corus. The transition also signifies that Tata Sons, which controls the use of the Tata brand, is satisfied that operations at Corus are now aligned with the characteristics of the Tata brand. The workers understand this is a name change and also realize that the Tata board has been supportive of the employees. It implies that synergies are being attained and that cultural integration is on the right path. Leadership: Common organization values for Tata Steel and Corus: Continues improvement program Integrity, respect for individual and world class governance Post- Acquisition: The company had effectively retained the top management of the acquired company to facilitate effective integration and to take care of the above stated cultural issues of the employees. This move coupled with effective communication has instilled confidence amongst the employees 2010 Current Executive committee which manages day to day operations of Tata Steel Europe (new name for Corus under Tata Steel) Value Chain Perspective There were significant effects that were seen on some parts of the value chain post Tatas acquisition of Corus. As already detailed above, Tata saw Corus as a strategic acquisition and took some immediate and long term steps to make the acquisition a success. Operations: This part of the value chain witnessed a saving of a whopping $103 million in 2008 09 post the integration process. Performance Improvement Teams (PITs) in 15 different areas were identified. These teams engaged in various new cost related projects in the wake of the economic recession and reduced volumes. The most important project that the teams worked on was the use of low cost coal for coke production and recycling of steel plant waste. Marketing and Sales: The acquisition of Corus gave Tata access to European markets in a very time efficient and cost efficient manner. Tata got access to the distribution network of Corus which was instrumental for its expansion in Europe. With the help of new capacity new products were introduced to cater to an expanding market in Europe. Post the acquisition, the company added flat products to Corus portfolio and thus strengthened Tatas position in the Automotive and consumer product segments. Tata globally became the 6th biggest player in the steel industry. Outbound Logistics: This function of the integrated company has undergone significant computerization and has led to more efficient supply chain management. The IT teams of Tata Steel Europe (Erstwhile Corus) are working in coordination with the IT teams of Tata Steel India to strengthen the IT support to this vertical. Both are also working to create online visibility of the operational performance of the organization. Procurement: This support function has seen significant cost savings driven by the increase in scale of the combined entity. Post the acquisition, Tata Steel Europe has appointed Lead Buyers for high value items and thus has streamlined the processes to a large extent. Contracts have been renewed for these suppliers and a resultant savings of over $40 million have been realized. Technology Development: The acquisition has provided Tata access to the latest technology and state of the art Research and Development setup. Tata has always been known for its technological excellence amongst the Indian peers but Corus took it to international standards. Post this deal, the total RD strength of the company has gone up to 1000 people. Process improvement teams have been set up leveraging the expertise of Corus for better process technologies. Through this RD set up TSE (Tata Steel Europe) has been working with various strategic partners one of them being the UK ministry of Defense. Human Resource Management: To increase efficiencies and in the wake of the economic downturn faced by the organization in FY 09, the company decided to cut its manpower costs by 20%. The target departments were IT, Finance and Human Resources. This undercutting was done through leveraging of Tata Steel Groups capabilities. A Performance Improvement Committee was set up during the integration phase and it still is responsible for knowledge transfer across the organization and adapting of best practices, which has to a great extent to Tata Steel Europe. Firm Infrastructure: Substantial steps have been taken in this regard in various departments such as finance, plants etc. This has been the pivotal point of addition in the value chain of the new company. Finance: Substantial expansion in the equity and debt resources was witnessed in order to acquire a big company as Corus. As the acquisition was essentially financed by raising substantial debt ($7.3 billion), the gross debt of the Tata Steel group stood at $10.54 billion in 2008 and increased to $11.78 billion by close of 2009. Restructuring of the debt has been witnessed in the recent past but the debt equity ratio still stood at 1.65 as at the end of FY 2009 from a low of 0.06 in FY 2006. Asset Restructuring, Integration and Divestment: With the acquisition of Corus, Tata Steel was the owner of an asset base that was thrice he size of the original Tata Steel and therefore was the need for integration of assets, divesting the obsolete assets and pairing down of overlapping assets. Immediate steps taken included closure of 4 plants and mothballing of 2 plants out of the 15 plants of Corus group. The expansion of the hot strip mill capacity at Port Talbot to 4mt. is on the table; and a decision to restructure the Corus Engineering Steels has been taken. All of this was done under the Fit for Future initiative undertaken at the merged company. Sources: Tata Steel Annual Report 2007 08 Tata Steel Annual Report 2008 09 Achieving Global Growth through Acquisition: Tatas Takeover of Corus, Journal of Case Research and in Business and Economics Tatas Acquisition of Corus: A Quantum Leap, Rashmi Malapur, The ICFAI University Press (2007) Achieving Global Growth through Acquisition: Tatas Takeover of Corus by Kimberly, Suresh and Jessica http://www.mumbaimirror.com/index.aspx?page=articlesectid=5contentid=201007022010070215213931780a91fb3 http://indiaearnings.moneycontrol.com/sub_india/compnews.php?autono=264760 http://www.tatasteeleurope.com/en/company/management/executive_committee/ http://www.financialexpress.com/news/tata-steelcorus-synergy-realises-76-mn-in-fy08/347487/

Ghosts in Henry James Turn of the Screw Essay -- Henry James Turn Scre

The Turn of the Screw:   Ghosts  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Lawrence Kramer poses some interesting ideas about Henry James’ The Turn of the Screw mainly by discussing the ghosts in the story. He refers to the ghosts as revenants; â€Å"a specter, a ghost, a phantom, one who haunts, who returns, who walks again.† First, he implies that these revenants can only work when a person believes they exist. There must be something that makes a former person want to return to the living world from a state of death. However, this longing by the former person is not enough to make it a worthy revenant. Someone in the living world must believe that the revenant is actually there. Because of the feelings of â€Å"dread† and â€Å"desire† a revenant creates when it appears, most people find it difficult to disbelieve in this apparition. Therefore, it is fairly easyfor a revenant to work. This is critical to the story because in order for the revenants of Quint and Miss Jessel to work, the governess must believe that they exist. Because of the governess’ belief, the revenants can wo... Ghosts in Henry James Turn of the Screw Essay -- Henry James Turn Scre The Turn of the Screw:   Ghosts  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Lawrence Kramer poses some interesting ideas about Henry James’ The Turn of the Screw mainly by discussing the ghosts in the story. He refers to the ghosts as revenants; â€Å"a specter, a ghost, a phantom, one who haunts, who returns, who walks again.† First, he implies that these revenants can only work when a person believes they exist. There must be something that makes a former person want to return to the living world from a state of death. However, this longing by the former person is not enough to make it a worthy revenant. Someone in the living world must believe that the revenant is actually there. Because of the feelings of â€Å"dread† and â€Å"desire† a revenant creates when it appears, most people find it difficult to disbelieve in this apparition. Therefore, it is fairly easyfor a revenant to work. This is critical to the story because in order for the revenants of Quint and Miss Jessel to work, the governess must believe that they exist. Because of the governess’ belief, the revenants can wo...

Language in Dante’s Inferno Essay -- Divine Comedy Inferno Essays

Language in Dante’s Inferno What happens to language in hell? In Dante’s Inferno, the journeying pilgrim explores language’s variations and nuances as he attempts to communicate with hell’s pitiable and sordid inhabitants, despite multiple language barriers and relentless cacophonies. Dante thematically unifies language’s inconsistencies in hell; that is, he associates the pilgrim’s abortive attempts to communicate with particular shades, and the incomprehensible languages and sounds that beleaguer him, with a symbol from Christian mythology: the Tower of Babel. Dante juxtaposes this Christian myth with Virgil’s symbolic association with elevated speech in the Inferno. Virgil functions as the pilgrim’s guide and poetic inspiration, and despite his position in hell as a pagan, Virgil still transmits divinely-inspired language to his pupil. Thus, notwithstanding his amorphous physicality as a shade in hell, Virgil represents lucidity and focused thought, which comf orts the pilgrim and provides a reprieve from hell’s dissonant sounds. Ultimately, the pilgrim’s relationship to language is multifarious: it enables the pilgrim to connect with Virgil and discover his place in the tradition of famous poets through divinely-inspired and intimate speech; yet, it isolates and horrifies him when it is incomprehensible, amplifying his individual suffering; thus, ultimately drawing him closer to his understanding of the shades’ own torture. Virgil’s enlightened language spawns partially from Beatrice, a divine inhabitant of heaven, who worries about the well-being of the pilgrim, and partially from his status in a long tradition of famous poets, beginning with Homer. Yet, despite Virgil’s association with enlightened and elevated ... ... His relationship to Virgil is enriched by their similar relationship to language as poets, and by the challenge of creating a poetic legacy on earth that counters the legacy of the tower of Babel in hell. Ultimately, the pilgrim’s desire reflects the reality of Dante’s own legacy, one that is immeasurably influential. Works Cited Alighieri, Dante. The Inferno. Vol 1. Trans. Robert M. Durling. New York: Oxford UP, 1996. Barolini, Teodolinda. Dante’s Poets: Textuality and Truth in the Comedy. Princeton: Princeton UP, 1984. Dronke, Peter. Dante and Medieval Latin Traditions. Cambridge: Cambridge UP, 1986. Durling, Robert M., Ronald L. Martinez. Notes. The Inferno. Vol 1. By Dante Alighieri. Trans. Robert M. Durling. New York: Oxford UP, 1996. Eco, Umberto. Art and Beauty in the Middle Ages. Trans. Hugh Bredin. New Haven, CT.: Yale UP, 1986.

Netflix Inc. Essay -- essays research papers

Netflix Inc. Company Background Netflix Inc. incorporated in 1997 and made its first public offering in 2002. Netflix is an online movie rental service which provides its 3,000,000 subscribers access to over 40,000 DVD titles. Although Netflix stocks nearly every title available on DVD, it does not stock titles containing adult content. The Netflix program allows subscribers to rent as many DVD’s as they want, and keep them for as long as they want. Three DVD’s can be out at a time, as soon as one is returned the next DVD on the subscriber generated movie list is shipped out. The DVD’s are delivered for free by the United States Postal Service from regional distribution centers located throughout the United States. Netflix can have most titles delivered to 90% of its subscribers within one business day of the shipping date. The company provides a personalized movie recommendation service that creates customized recommendations for the subscriber. This system is based on customer rental history and the ratings the customers provide to Netflix. The ratings system is a simple 5 star system where 1 star is equal to a bad movie and 5 stars is equal to an excellent movie. Netflix also provides decision making information to the subscriber about each movie the company provides. This information includes the length, rating, cast and crew, special features, screen formats, and plot synopses. Netflix also provides movie reviews written by Netflix editors, subscribers, and movie critics. In addition Netflix provides the average rating that other subscribers gave the title, and displays other titles that the subscriber might enjoy. Netflix has revenue sharing agreements with more than 67 studios and distributors, and also purchases titles directly from studios, distributors, and independent producers. The major competitors for Netflix are Movie Gallery, Trans World Entertainment, Blockbuster, and Intermix Media. Industry Trends Since 1999 the growth of spending on DVD purchases and rentals has been incredible. According to Alexander & Associates, â€Å"Rapidly growing consumer activity and spending has built this industry into a major market phenomenon. The DVD format for enjoying pre-recorded entertainment at home is extraordinarily popular and consumers are changing their behavior to accommodate it.† †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The VHS market totaled nearly $20 billion... ...ble debt management by having the ability to pay its interest obligations easily. All four of these ratios show us that Netflix is in a good position to service both their long and short term debt obligations, and that they have kept their debt load low and under control. We have found that the gross, operating, and net profit margins are showing us that the company is beginning to post some gains and are improving their profitability. In addition the ROI has increased nearly 4% and the ROE has increased 7%. We see this as a responsible rate of growth which allows sales and sales revenues to keep pace with the growth of the company. By controlling their growth Netflix has been able to expand its operations and control their debt. Recommendations Although Netflix has been extremely efficient about the way they are controlling their debt load we believe that they may be missing some opportunities to expand their services. Netflix could possibly free up some cash to explore the market opportunities for service to the video game enthusiast. Other than that we really think that if Netflix keeps improving at the steady pace its going, the company will have a bright future.

Electronic Contracts Essay

There are several long-term impact of electronic contracting on the nation’s business and some of these are the following: First of all, since the E-sign Federal Law â€Å"legitimizes business conducted by electronic means†, this means that the nation will produce more businesses than usual (Zanger, 2000, n. p. ). This is because an electronic contract saves a considerable amount of time, as well as, effort (Zanger, 2000, n. p. ). Unlike in the traditional way, wherein individuals entering into a contract are obliged to meet with each other, negotiate with each other, agree with each other, etc before finally signing a document that legitimizes what they have discussed about with regards to business (Zanger, 2000, n. p. ). In electronic contract, a document is sent for another party to read and agree upon, if he or she does then he or she signs it, then the other party, in case he or she agrees will also sign it (Zanger, 2000, n. p. ). Electronic contract is exceedingly easy and extremely convenient that is why the number of businesses is increased greatly which leads to a flourishing economy for the nation as well (Zanger, 2000, n. p. ). Second, the e-Sign Federal Law â€Å"continues the advancement of e-commerce†, which in turn, also plays a large role in the economy of the whole nation (Zanger, 2000, n. p. ). It motivates individuals to transact their businesses online and make their services far more efficient by doing so (Zanger, 2000, n. p. ). The fast and efficient service that e-commerce offers contribute largely in inspiring people to create a business of their own online which will not only bring in an additional income for themselves and their families but to the government as well (Zanger, 2000, n. p. ). Finally, â€Å"it establishes uniformity in intrastate, interstate, & foreign commerce† which means that the hindrances and vagueness to well-organized/competent interstate â€Å"online transactions posed by different states’ laws† will be gone forever (Zanger, 2000, n. p. ). This means that the flow of business transactions will be freely flowing because there will be no more differences in State laws to attend to (Zanger, 2000, n. p. ). In case that other States have other laws with regards to e-commerce and electronic contracts, these will still be covered by this federal law technically referred to as â€Å"the Federal E-sign Law† (Zanger, 2000, n. p. ). Since uniformity is established through the aforementioned law, more individuals are more confident now with online transactions than before (Zanger, 2000, n. . ). What are the potential pitfalls you see with electronic contracting? An electronic contract entails an â€Å"electronic signature†, which is actually an â€Å"electronic sound, symbol, or process attached to or logically associated with an electronic record and executed or adopted by a person with the intent to sign the electronic record† (California Codes Civil Code Section 1633. 1 – 1633. 17, n. d. ). The major problem here is that there are no rules or standards for electronic signatures (California Codes Civil Code Section 1633. – 1633. 17, n. d. ). There should be only one kind of technology utilized for â€Å"an electronic signature to meet the functional equivalence standard because there are no built-in security of handwritten signatures, in ink, and tangible writing† (California Codes Civil Code Section 1633. 1 – 1633. 17, n. d. ). There should be â€Å"encryptions, access controls, as well as, date stamps† in order for it not to be easily tampered with (California Codes Civil Code Section 1633. 1 – 1633. 17, n. d. ). If there are no guiding principles on what comprises electronic signatures then fraud is most likely to occur (California Codes Civil Code Section 1633. 1 – 1633. 17, n. d. ). Anybody can just sign an agreement however she/he wants it to be signed and he or she may just opt to get out of it by saying it not his or her electronic signature or he or she may just put another electronic signature that is not really associated with him or her for the purpose of being able to run away with it in case he or she needs to (California Codes Civil Code Section 1633. 1 – 1633. 17, n. d. ).

Case Study Managing a Systems Development Project

Elizabeth A. Humphrey Dr. Tim Brueggemann MBA54001OL November 11, 2012 Managing a Systems Development Project at consumer and Industrial Products, Inc. Situation Consumer and Industrial Products, Inc manufacture a variety of different products for individuals and businesses. Due to ineffective accounts payable system, Consumer and Industrial Products, Inc started a new project called Payables Audit Systems (PAS). The process of beginning this new project was taken very seriously. Roles were assigned and defined. Ted Anderson was the director of the project.Peter Shaw was assigned the responsibility of user project manager. The user project manager was â€Å"responsible for making sure that the system meets the user department’s business needs and that the system is completed on time. † (DeHayes, et al) Linda Watkins was given the duty of being the project director, whose main responsibility was to â€Å"manage the IS people on the project. † (DeHayes, et al) Harr y Carter was assigned the job of IS supervisor. The IS supervisor â€Å"was responsible for integrating all projects in the disbursements area and for allocating IS people to these projects. (DeHayes, et al) A steering group was also appointed and chaired by Ted Anderson. â€Å"The role of the steering group was to approve budgets, determine the business direction of the project, and make any necessary decisions. † (DeHayes, et al. )Communication was a very important part of this project. Therefore, everyone who was chosen to work on the PAS project had to have good communication skills. Consumer and Industrial Products, Inc had been using the CIMS (Computerized Invoice Matching System) system.This system would basically match invoices to purchase orders generated by the computer. Those invoices would then be paid if everything matched. If one minute detail didn’t match, the invoice would not be paid; delaying may accounts payable for an extended period of time. This system was not good for Consumer and Industrial Products, Inc and it was not good for the vendors. Due to the CIMS system being archaic and not meeting the needs of Consumer and Industrial Products, Inc, the project committee recommended developing a new system.The objects of the Detailed Study Report was to decrease the cost of processing vouchers, reduce the number of staff needed for processing vouchers, reduce the amount of time it takes to pay out the vouchers, and â€Å"support systematic integration with transportation/logistics, purchasing, and accounts payable to better facilitate changes due to shifts in business procedures. † (DeHayes, et al) When beginning the Drafts Requirements Study, Linda Watkins was concerned with so many systems dependent on each other being changed at the same time.When she voiced her concerns, she was basically told ‘the show will go on. ’ The last step was for the outline physical design group to take a look at the new system and get it set up. The original idea was for the PAS system to use the mainframe, but then an option of using a LAN was introduced. Using a LAN did cost quite a bit more than was budgeted. Just as the physical design report was being completed, Linda Watkins was in a car accident, leaving her with sever injuries and out of work for an extended amount of time. Ted Anderson was worried.Linda Watkins was the best manager he had and he wasn’t sure where to go from here. He asked his secretary to set up a meeting with IS Director Charles Bunke for first thing the next morning. He needed a plan. Target Consumer and Industrial Products, Inc is currently working on replacing their old CIMS system with the PAS system. Linda Watkins, the project director, was in a car accident and will not be able to return to work for an extended period of time. Ted Anderson, the executive sponsor is concerned and doesn’t quite know where to go from here. Many hours have been put into research ing this new system.It is on the edge of being adopted by the company and is now in danger of falling behind in the adoption process due to Linda Watkins’ car accident. Everyone involved in this project has taken great strides to do their research to ensure this is the right system for Consumer and Industrial Products, Inc. This company has done a great job with strategic planning. With all the great planning of this project, it doesn’t appear risks were taken into consideration. When working on and planning a project, â€Å"a good approach is to consistently include risk communication in the tasks you carry out.If you have a team meeting, make project risks part of the default agenda (and not the final item on the list! ). † (Jutte) Where was the plan B for this project? Proposal It appears Consumer and Industrial, Inc needs the PAS system in order to process accounts payable more effectively and efficiently. It appears it will save the company money, as well a s keep the vendors happy. Now that Linda Watkins has been injured and cannot return to work for an extended period of time, Ted Anderson will need to visit with Charles Bunke to come up with another plan to keep this project moving.Ted and Charles will need to meet with the other project managers to determine where to go from here. If the lines of communication stay open and they continue to work as a team, they will come up with a solution to keep the project from being put on the back burner. As stated in the article 8 Steps to Implementing Successful Organizational Change, â€Å"Once a change is planned, it is important to have good communication about the rollout and implementation of the change. A timeline should be made for the implementation and should make changes in the order that affect the process and the employees who manage the process.An effective timeline will allow for all new equipment, supplies or training to take place before fully implemented. Implementing witho ut a logical order can create frustration for those responsible for the work process. † Works Cited DeHayes, Daniel W. , et al. Managing Information Technology. Pearson, 2012. Print. â€Å"8 Steps to Implementing Successful Organizational Change. † http://thethrivingsmallbusiness. com/articles/8-steps-to-implementing-successful-organizational-change/ retrieved from web 10/19/2012