Black Hole

Black hole in astronomy is a theoretical region in space with such intense gravitational forces that nothing, not even light, can escape from it. Calculations based on Einstein’s general theory of relativity published in 1915 indicate that a very high concentration of matter can form a black hole, but the existence of black holes has not been proven. For the sun to form a black hole, it would have to be compressed into a sphere less than 4 miles (6. 4 km) in diameter.Scientists believe such concentrations of matter can occur under certain conditions, as when a massive star (one with a mass three or more times that of the sun) runs out of fuel for thermonuclear reactions and collapses in one itself. In the constellation Cygnus, a star has been discovered that appears be in a binary (two-star) system with a small, invisible object that may be a black hole formed from a star (Abell, 34-36). The area around the object is a strong source of X-rays, possibly produced by gases heated to very high temperatures as they are drawn into the black hole.Very massive black holes may form at the centre of a galaxy, where there is a high concentration of stars and other matter. Astronomers have found evidence for the existence of massive black holes at the centre of several galaxies, including the Milky Way. Black holes ranging down to microscopic size may have formed when the universe was very dense, shortly after its creation. According to a theory by the English physicist Stephen Hawking, black holes of very small size lose a significant amount of mass through subatomic processes at their boundaries.According to this theory, once a black hole become extremely small, it emits all its remaining mass in an explosion of high-energy particles. However, evidence for such explosions has not been found. Moreover, the term â€Å"black hole† was coined to describe such an object more than 50 years ago, long before there was any evidence that such object existed. Today, t here is ample evidence that black hole exist (Snow, 111). If the core contains more than 3 solar masses, its collapse leads to the formation of a black hole. In this case, the degenerate neutron gas pressure cannot halt the collapse.There may or may not be a supernova explosion, depending on whether a neutron star forms temporarily (causing a rebound of the infalling outer layers of the star) before collapsing further. A black hole never stops collapsing; mathematically, it can be described as a single point containing all the mass of the collapsed stellar core, but physically it is difficult to describe. In other words, if a star more than 2 or 3 solar masses in its core collapses, it will exceed the mass limit for formation of a neutron star.When a star collapses beyond the point where neutron gas pressure degenerate can support it, the collapse never stops as mentioned earlier. Thus, a black hole is not in hydrostatic equilibrium because there is no known force that can counterac t the inward force of gravity and it is said that the mass of the star forms a singularity, described mathematically as a single point having infinite density. As the collapse proceeds, the surface gravity of the star becomes stronger (Chaisson, 16-17).The gravitational force of the star remains the same at distance outside of the original surface of the star; the immense increase in gravity occurs only at closer distances. As the surface gravity increases, it has an increasingly significant effect on photons of light. Eventually a point is reached where the surface gravity is so great that light cannot escape. At this point, the star is said to have passed through the event horizon because it is impossible to observe anything that happens to it after this.The radius of the star at this point is called the Schwarzschild radius and the Schwarzschild radius is proportional to the mass of the star; for a star of 1 solar mass, it is 3 km. A black hole cannot be directly observed, but it s presence may be detected through its gravitational effects. If a binary system is found to have an unseen member whose mass is too great to be neutron star, then it must be a black hole. Such binary systems are most easily recognized if mass transfer takes place from the companion star to the black hole. In this case, the matter that is transferred forms an accretion disk so hot that it emits X-rays (Abell, 34-36).Thus, X-ray binaries are likely places to look for black holes. Several X-ray binaries have been observed in which the analysis of the orbit of the visible star indicates that the unseen companion has too much mass to be a neutron star and must therefore be a black hole. Reference: 1. Abell, G. D. Exploration of the Universe (96h edition), pp. 34-36. Philadelphia: W. B. Suanders Co. , 2001. 2. Chaisson, E. Astronomy Today. Pp. 16-17. Englewood Cliffs, N. J. : Prentice Hall, 2002. 3. Snow, T. P. The Dynamic Universe: An Introduction to Astronomy (6th edition), p. 111. St. Paul: West Publishing Co. , 2001.

Evaluate a Range of Ways to Embed Elements of Functional Skills in Your Specialist Area.

Evaluate a range of ways to embed elements of Functional Skills in your specialist area. Functional skills are new qualifications developed to allow people to conduct themselves in a confident and independent manner in life. They are practical skills in literacy, numeracy and information communication technology that provide essential knowledge and understanding. The language courses – in my case Italian – are aimed at widening the knowledge of different people cultures and their ways of expression within community groups and as such embedding functional skills helps to develop intelligence, attitude and behavior in each individual. These skills allow individuals to make a positive contribution to the community in which they live and work by laying the foundations for development in any further education or training. The language courses incorporate literacy skills through the introduction of the grammar. The learners need to understand grammar well enough to pick out the right words when they are required to do a translation. According to my experience it is a very proficient exercise to pick an article from a magazine or a newspaper and ask each learner to read it out loud and have it translated into the target language. In this way the principles of knowledge, comprehension and application are put into practice. Another useful exercise can be done by asking the learner to change the verbs in the article from simple present to simple past or to future tense and have them translated into the target language. The language courses also embed some mathematical concepts. An example could be by teaching numbers with dice and make the learners say the sums once the dice are thrown or write on the whiteboard some arithmetical expressions including addition, subtraction, division, multiplication (e. g. 0 + 2 : 6 x 5 ) and ask the learner to make the calculation. Learners are expected to do some homework on the subjects taught and discussed in class. The homework form containing questions, quizzes, and sentences with gaps to be filled is emailed to each of them. This will be completed in computerised format and in this way the functional skill of information and communication technology is incorporated. Anothe r way to embed ICT skills in the session is encouraging the learner to do a research using the internet about a cultural event or a geographic area of the country of interest. Things that could develop my skills in embedding Functional Skills in my teaching are the use of some websites – such as BBC Languages and Linguascope in my case – which could provide some new learning activities that can be introduced in class; use of DVDs to record some TV programs like news, cultural events and documentaries in the target language which could provide new subjects for communicaton and listening in class ; set activities that require students to check for their own and each other’s learning errors and check for these myself . This can be fulfilled with active learning methods and enjoyable tasks like cards, role play, dice that create more participation , concentration and more cognitive engagement. Functional Skills – an Introduction to Functional Skills – 20 August 2008 (online) http://www. qca. org. uk/qca_6062. aspx G. Petty (2004) Teaching today. Nelson Thornes Ltd, Cheltenham

Classification Essay Students Essay

Being a student in today’s society holds an immense amount of pressure to do one thing: graduate. Thirteen years of school prepare students for the next major steps of their lives. Every student faces many struggles and frustrations before graduation day arrives. One may be able to surmise a few details about a student before they put pencil to paper or even speak. One can also make assumptions about a student based on his or her seating position. Motivation, determination, and concentration will establish a student’s amount of success. The three categories of high school students are underachievers, average students, and overachievers. The first category of students is the underachievers, or the back row. These students lack the characteristics needed to be successful. They are also the ones who think a success is showing up to class. Oftentimes, they will be failing classes and not even bother to hand in assignments. If they do pass their classes, it is with hardly passing grades and little knowledge gained. This typical student can be seen coming late to class with papers spewing out of his unorganized notebook. Work will not be completed on time, if finished at all. He will not participate in class discussions, or he may sleep throughout the period. In some cases, the only thing these students need is a little extra help. Procrastination, poor attendance, and laziness are few of the common characteristics of an underachiever. Underachievers revel in disrupting class and being a general nuisance to all involved. Homework transforms into spitballs and paper airplanes, and there are a multiple excuses prepared for why the assignment is not finished. They do anything possible to get out of class, and can be often found wandering halls, in the bathroom, or in the comfortable chairs in the office. A step above the underachievers are those students that do just enough in order to succeed, the average achievers, middle row. These students are often capable of achieving academic success, but lack motivation. Many athletes fall into this category, and only because they need to be eligible to participate in their respective sport. Choosing not to make any extra effort, they receive average grades and maintain average attendance. They may not stand out in class, but their work is always completed. These students view extra credit opportunities as a waste of time. These mediocre scholars are also the ones who believe that Wikipedia is among the greatest inventions of all time, while turnitin. com is not. Students who contain these characteristics make up the most common category. The final group of students are the overachievers. They sit prim and proper in the front row raising their eager hands. These workaholics are the ones whom teachers adore and whom fellow students despise. They often exceed the expectations of any teachers. They constantly work hard and are active in class. They take notes verbatim of what the teacher says, excel in group discussions, and much to the demise of the other students, raise the academic bar to an unattainable level. Although they are not often the greatest athletes, or the best at communicating with the opposite gender, they separate themselves with their cerebral work ethic. These scholars find reading entertaining, and would much rather solve a Rubik’s cube than run a mile. One of them will be inevitably become Valedictorian, and will give a speech at the podium come graduation day. When analyzing these students, one could be looking at future doctors, engineers, and various activists. Being average is not necessarily a bad thing, and being an overachiever is not necessarily a good thing either. The student with 4. 0 GPA in high school may not go on to become the neuroscientist everyone thought she would, while the student that took three gym classes may become a famous athlete. Of course, there is leeway for fluctuation in this formula of judgement. Ultimately, it is up to each individual to decide which type of student he or she will become: part of the back row, part of the middle row, or part of the front row.

Pricing Strategies Essay Example | Topics and Well Written Essays - 750 words

Pricing Strategies - Essay Example Competition-based pricing would allow the ZC gemstone to enter the market at a known acceptable price. It would provide the flexibility to offer prices at or slightly below the competitors. This would eliminate the need for market research. It would also gain immediate market share from the competition upon launch of the product. Competition-based pricing would also tie the price to the overall market. That would benefit the company by taking advantage of increased profits when the market went up and continuing to sell as the overall market dropped. Because the product does offer a unique quality advantage, ZC could be priced slightly higher than the competition. However, Finlay et al. (1996) warns, "[...] consumers may easily isolate products which are overpriced and disregard them in their buying decision making process" (p.73). When using a competition-based pricing strategy, there needs to be considerations made for cost and survivability. If the price is set below the competition's lowest price, it may be below the cost of manufacturing it. It should be noted that in a competition based pricing strategy, the price will be set by the "least sophisticated or most aggressive competitor" (Docters 2003 p.18). In an attempt to eliminate the competition, it may drive ZC out of business. However, since the seller also manufactures the item, cost reduction and control could return the product to profitability. Another drawback in this scenario for pricing based on the competition is that the consumer will connect the quality to the price. Since ZC is a higher quality item, we may not want it to be priced at or lower than similar items of less quality. A lower price may give an indication to the market that it is of lower quality. This psychological barrier may be hard to overcome on an infomercial or through advertising. Since the product launch is on a televised home-shopping network in the United States, it's imperative that the initial offering be received positively. This will allow ZC to continue and go global. If the ZC Company has adequate resources, they may be able to tolerate cutthroat pricing while making a minimal profit with the objective being long-term expansion. With expansion and increased international sales, production costs will drop and profits will again begin to rise. The other strategy to consider would be perceived-value pricing. This strategy would be the most effective at setting the price for maximum profits. Setting a higher price based on the uniqueness of the product could offer a sizable competitive advantage. By using premium pricing, it would differentiate the product and set it apart from the competition. This would increase demand and move the price upward. According to Docters (2003), "[...] price alone can influence that demand or move the product into a new demand category" (114). A higher price would also add to the consumer's perception of quality. A study reported by Maxwell (2005) concluded, "[...] consumer price-quality perceptions were strongly related to their estimates of the price level of the product category" (358). Price is often the indicator that the consumer uses to gauge quality. By setting a higher price we are gaining perceived brand quality. Another advantage of perceived-value

SUNY Empire State College Case Study Example | Topics and Well Written Essays - 2000 words

SUNY Empire State College - Case Study Example According to the law in Texas, in order to establish an insanity defence, the accused should show that they could not differentiate between bad and good while committing the crime. Did the State prove their case? This case provides explanation with regard to the psychological research in the court’s ruling and supports the court ruling in accordance to the evidence of the psychological research. This paper will show the positive and negative sides of the use of psychological research and testimony within the case of Texas vs Andrea Yates. In the Texas vs. Andrea Yates case, some material and key issues surfaced within the management of the case. The performance of mental illness to the juries or judges, along with, information & evaluation of the impact of mental illness as it relates to criminal conduct and responsibility (Wang, Chen, Chin & Lee, 2005). There are contemporary concerns on the potential impact of mental illnesses within the fairness of the court procedures in c apital cases. Additionally, the American Psychological Association indicates that severe mental disorders can significantly reduce a person’s capacities to reason rationally and to suppress conduct that violates the law. The American Psychological Association strongly supports the insanity defence because it offers the criminal justice system a method for recognizing unfair penalty to the mentally ill person. We should not assume that the defendant Andrea is evil. The National Alliance for the "mentally ill" is a grassroots advocacy organization for citizens with severe mental illnesses. Today there is psychosocial treatment, medications, and support that work to improve the most intense symptoms of these illnesses. Did Dr. Dietz decide to ignore various symptoms pointing to the appellant's continued use of medication? It is believed by many that, he should have been more thorough in his detail of her medical follow up. Considering the appellant, there was a time when her men tal status appeared unstable and in need of the necessary medical and/or therapeutic interventions to reduce her depression. The court provided information regarding Andrea’s suffering from mental illness and that she had wanted to commit suicide (Godfrey, 2005). On June 18, 1999, the appellant suffered severe depression, which led her to trying to commit suicide through an overdose. The appellant’s mother, while at the appellant’s home noticed that Andrea Yates was almost catatonic, slow to respond to dialogue or no response at all. Some of the factors noted that led to the Andrea Yate’s decline were five pregnancies, home schooling her children, and living in a bus. Dr. Dietz should have noticed that the appellant was not taking her medicines and testified with a lack of support to the medical advice suggested. Mrs. Yates began to withdraw, was not eating well, and had trouble sleeping and established thoughts of being a terrible mother. Dr. Dietz had n o knowledge of post-partum disorders. He stopped treating patients in 1981 or 1982 with post-partum depression. He testified that Andrea Yates was sane. She knew she had done something wrong and expressed that â€Å"it was the work of the devil†. He told the jurors that she did not have hallucinations but that her mother indicated that she had observed them (Wang, Chen, Chin & Lee, 2005). Andrea Yates had a history of mental illness that included hospitalization and medication. This led to her admission under suicide watch. April 13, 2001, she began an outpatient program at Devereux and May 4, 2001 was readmitted to Devereux and discharged on May 14, 2001. She was prescribed Haldol medication. The degree of stress does not change. What transforms is the ways in

PhD research proposal Essay Example | Topics and Well Written Essays - 750 words

PhD research proposal - Essay Example common in most communications resulting to children whose parents use English as a second language communicating to them while young in both English and their primary language. This case is common among most Arabic children in Britain who are able to communicate in both Arabic and English languages effectively. After a thorough search at the literature, especially the one discussing issues related to interaction between first and second languages, it has been observed that most of these studies point to the effect of the first language on a second language, in terms of; phonology, morphology, semantics, syntax and many other aspects of linguistics, but there have been much fewer studies done on the effect of a second language on the first one with respect to phonology in bilingual children. This provides a perfect opportunity to analyse the impact of a second language on the phonological skills of the first language in bilingual children. On an anecdotal level, I have seen that some Arabic-English bilingual children’s mother tongue, which is Arabic, is affected phonologically by English which they learn at school. Children gradually lose the right pronunciation of unshared sounds in their first language, as a result, of the interaction between the two languages they master. This study proposes two hypotheses: 1- The phonological characteristics of children’s second language will affect their pronunciation of unshared sounds in their first language, in the same way; the first language influences a second language. Numerous studies have examined the issue of phonological interaction in children, especially in cases where children are taught to communicate in more than one language (Goldstein, 2004). Some of these studies are listed in the reference section of this proposal. This study will examine previous studies on this topic and hence develop a gap analysis that will culminate to the development of a problem statement. Currently, this study is fully aware

No topic Essay Example | Topics and Well Written Essays - 250 words - 65

No topic - Essay Example Again Susan urgently needs to acquire the property to expand the university. The best alternative (BATNA) that he has is to sell it to the property to the private developer. His reserved price (RP) is approximately $19.7 million. This figure is arrived at by considering the cost of rebuilding property with same features, in the same location. Susan is mainly interested in acquiring a property to expand the university. As such, the property that Fr. John is selling is appropriate for the expansion due to its vicinity. Her main source of power is that she is aware that Fr. John is selling the property and that the school is suffering financial predicaments. Her best alternative would be to build her own premises should Fr. John sell the premises at the price equal to putting a new structure. Her recommended price is below $19.7 million as the amount would be enough to put up a new structure with similar features. Her target would basically to acquire the property at a lower price than that of putting a new

Macro1.2 Essay Example | Topics and Well Written Essays - 1250 words

Macro1.2 - Essay Example That is, if it is taking place on the production side or the consumption side. Where there spillover benefits occur as a result of production, there is either overproduction or underproduction. In case of underproduction, there is need to boost production and this can be achieved through provision of subsidies in order to encourage firms to produce more. In case of overproduction, the firms’ potential is high and resources available for production meet an output that exceeds the actual demand. To correct this, the firms would have to be taxed more in order to make the production process expensive, bringing down the level of produced output in the firms. Access to public television is not prohibited to any individual. All those who consume the benefits that come with the good have not necessarily paid for it. On the same note, if there are costs needed for upgrading or improved the premises form where the television is watched from, not every person will take part in that initiative. In this case, where there are costs or benefits attached to that good, there are consumers who do not take part in any activity that pertains to the provision of that good, whether they enjoy it or not. Government expenditure for goods and services is defined by the level of government spending on public goods and services. The government provides to the society goods and services that cannot be provided through the market mechanism sue to problems of externalities. Goods and services bought by the government for to benefit the society as well as government investments in the various sectors of the economy constitute government expenditure. Government expenditure is financed by taxes, returns on government investments, revenues from state owned enterprises, donations and borrowing from individuals, groups of people, financial institutions, Central Bank and from other countries (Gupta, Mandal & Gupta, 2008). Examples of government

Macromolecule Research Project Overview Essay Example | Topics and Well Written Essays - 500 words

Macromolecule Research Project Overview - Essay Example rates are: 1.) Monosaccharide, 2.) Disaccharides, 3.) Polysaccharides are polymers of monosaccharide of up to 10,000 glucose molecules per chain, where parallel chains are cross-linked with H bonds forming bundles of 60-70 molecules. These are: a.) Starch which are insoluble polymer of glucose, and energy storage molecules concentrated as granules within plant cells; b.) Glycogen which are water-soluble, branched polysaccharides storage form in animal liver and muscle cells; c.) Chitin which are tough molecules of ÃŽ ² glucose and the second most abundant molecule that forms the major component of fungal cell wall and the exoskeleton of insects and arthropods, recently used as surgical suturing threads; and d.) Cellulose which are the structural material in plant cell wall (Campbell & Reece 2002). Lipids are substances with an oily, greasy or waxy consistency which are relatively insoluble in water and tend to be water-repelling, hydrophobic, i. g. cuticle on leaf surfaces (Mader 2001). This is also important biological fuels, hormones and structural components of cell membranes (Mader 2001). Neutral fats and oils are the most abundant forms found in both plants and animals. Fats are economical storage for fuel reserves and there is twice more energy as the same quantity of carbohydrates it can generate (Mader 2001). Fatty acids which are the main components of neutral fats and phospholipids are of 30 different kinds such as saturated fatty acids which are solid at room temperature, i. g. butter and palmitic acid, and unsaturated fatty acids, oils, which are liquid at room temperature, i. g. linoleic acid. Important lipids are phospholipids which are the main component of cellular membranes, steroids which are likewise components of membranes and also hormones such as testost erone for sexual growth and development of men and estrogen and progesterone for women sexual growth and development with cholesterol as the main precursor, and carotenoids which are

Community based corrections, a issue that is most critical today, Essay

Community based corrections, a issue that is most critical today, - Essay Example As well, there is a demonstration of the valuing of diversity in the organization and the environmental trends faced. This serves as a good example of community based corrections, an issues that is most critical in the present day. Introduction: Characteristics and Environments of Medicare Program In a community, it is necessary to have all needs exampleof the people catered for. In an urban setting, there are very many needs which have to be considered and be put in place. For instance, in a city of five thousand people, it is necessary to have all considerations put in place in a manner which solves the major needs and requirements for all. Whenever planning a new urban setting, all human needs should be appropriately considered. The major needs in such a setting include water availability, electricity, sanitation, health services, jobs, building types, transportation systems, and recreational land. These are some of the issues every community faces in the recent period. However, i n this paper we will examine certain programs, which are symbolic of the issues being faced recently. The use of examples and relevant illustrations as well as organizations has been cited to shed light on the issue accordingly. Human service organizations should be able to come up with appropriate programs and environments which have the capability of meeting the basic needs for the clients and the society in particular. This can be achieved through having intellectual characteristics which shall help in building a better environment which promotes the human services being offered from the organization (Brian, 2009). For instance, the Medicaid and Medicare programs in the United States are very important in ensuring that the country has been given within the necessary services. Generally, there is a very big importance with the appropriateness of characteristics and environment for all human service organizations (Medicare Program, 2008). This paper will thus discuss in details the characteristics and the environment of Medicare Program in United States of America. Medicare Vision and Mission For any kind of organization which is offering human services such as the Medicare Program, there is a very big necessity of coming up with appropriate missions and visions statement which keep a good characteristic and a better environment for the organization. This as well ensures that proper operations being done in the organization are always aimed in the realization of the organization’s goals and objectives (Taylor, 2008). The Vision of Medicare has been the provision of a program which has to be of high quality, purely equitable as well as a sustainable health program which shall meet the needs and expressions of all the people in United States. Such a vision has been playing a major role in elevating the services which are on offer by the organization (Marmor, 2000). The Mission as well has been in making sure that the best voice and care has been given to all the people of the country and as well strengthen the health care system of the country through improved healthcare access and equitable future health care for all. Medicare Organization: Governance and Staffing In this organization, governance and staffing have been seriously undertaken in order to ensure that the right environment has been created which sees all the people being given the necessary

Assignment Example | Topics and Well Written Essays - 1750 words - 2

Assignment Example Having majored in finance, I am looking forward to build my own business and apply my learned knowledge in my business. I am a hard working person who would like to excel in the real estate sector. In this document, I offer my statement for long-term career goal, personal development, vision, mission, professional development, self assessment, description of my business dreams, and strategic professional development. Direction-mission, vision, values In order to stay focused in realizing my personal and professional ambitions, I have taken time in preparing my goal statement. My strategic plan is to ensure efficiency and effectiveness in all my personal and professional endeavors. I am well informed that without a proper goal statement and strategic plan, success in personal life and work can not be realized. Goal statement helps in figuring out what companies or industries a person is interested in. A long-term goal statement help in figuring out what one needs to accomplish in thei r career. For my sake, I am focused on starting and developing my personal business. I have a vision of starting a personal business in real estate. In order to be successful in my business plans, I must focus on self evaluation and development planning to enhance my capacity in realizing my long-term goal. It is essential for each person to know what he/she want to do in order to attain success. Knowledge on the strategies and approaches of gaining success is also essential in personal and professional development. External environment The Location of my indented real estate business will be at San Francisco. This is a perfect location due to the overwhelming market of real estate business in the area. For me, the weather and business environment in San Francisco is favorable for my personal and professional development. I like the warm and humid atmosphere of San Francisco. The good geographical environment and climate will help productivity and quality of my work. This is both fo r personal development of mood as well as availability of market. The geographic location is very suitable for diverse employees. Internal environment Luckily for me, I am well aware of what I want to do. I am also well aware of how to attain success in my personal and professional endeavors. My interests are in real estate business. Being a major in Finance, I will be able to successfully manage my business firm. I am a very outgoing and hardworking person who will be able to relate well with other business partners, employees and customers of all levels. I am very outgoing and able to interact with people of all backgrounds in a humble manner. Combination of these character traits with my knowledge in finance will make me succeed in real estate business. The first and fore most fundamental step in my long-term personal and professional development plan is gaining a degree in finance. Academic knowledge is of great importance in realizing my professional career objectives. I am ful ly aware that it is fundamental to get my feet wet in many areas so as to attain success. This will help me in furthering my knowledge, skills and understanding in finance. I am planning to apply for different positions of internships in finance and real estate. This will offer me the necessary preparations needed in real estate industry. By attaining my education and internship, I will be able to gain the necessary experience on different aspects of

Critical thinking Essay Example for Free

Critical thinking Essay 1. How does critical thinking affect you as a reader and writer? How can thinking critically improve your writing? Critical thinking affects a person as a reader and writer in that it is essential to be able to absorb and assimilate knowledge from the environment as well as organize one’s own thoughts and express oneself in a clear and comprehensive manner. It is important to consider critical thinking as being a twofold process. As a reader, one is able to utilize critical thinking as a tool to analyze information being taken in from the outside. Not all information is useful or truthful to a person, and critical thinking is a method of filtering out what is incomprehensible or untruthful and absorbing what is meaningful and valid. As a writer, critical thinking is used in relation to one’s own personal creative thoughts, coming to subjective conclusions about what one believes about the world and expressing these beliefs through writing. Critical thinking is able to improve people’s writing in that the ideas one wants to express become central to the writing process, to develop the perfect way of stating what one desires to say. It is essential to utilize critical thinking in both reading and writing, so that one is able to take in and organize the information from the external environment and make personal judgments and assertions about what one believes. All situations and experiences are both objective and subjective, in that people experience events within the context of the external world. It is important to be able to digest and process information from the external world in an organized fashion, so that one is able to accurately describe and share one’s experiences with others. 2. Read the following Discussion Question response written by Owen, a fictional student. Identify areas of vagueness and ambiguity and discuss how you might clarify the e-mail message using the writing principles addressed in the text. In the response written by Owen, the writing style is such that the reader is not able to clearly understand what is being said. There are instances of vagueness and ambiguity in the writing, and Owen is left appearing as if he does not truly understand what he is supposed to be writing about. For instance, Owen states that critical thinking affects him in â€Å"all ways†. Although this may be true, there is not enough information describing in which ways he is affected. It is important to include enough detail in writing, so that the reader is able to fully comprehend what is being claimed. Owen goes on to say that clear writing is the â€Å"hardest thing in the world†. Although Owen may be having difficulty with his own writing, clear writing is not the hardest thing in the world for all people. Instead of generalizing and making blanket statements, Owen should be plain and honest in saying that clear writing is difficult for him personally. Further on, Owen claims that critical writing is like business writing in that they both need a certain amount of structure, yet then claims that â€Å"structure is harder†. These ideas are simply uncorrelated and do not logically proceed from one another. One cannot compare two styles of writing as being similar and then immediately state that they are dissimilar, at least not without a clear explanation and transition. Overall, Owen could improve his own writing style by paying attention to explaining himself in detail, by taking the necessary time to organize his own thoughts before writing them down. It is vital to express oneself in a clear and comprehensive manner, so that other people are able to easily understand what is being conveyed.

Designing and Planning High Voltage Laboratories

Designing and Planning High Voltage Laboratories 1. Introduction The demand of energy which has to be delivered over long distances is increasing in todays world due to industrial and economic development. Transportation of such a large amount of power needs extra high voltage transmission lines. High voltage laboratories are an essential requirement for making acceptance tests for the equipment that go into operation in the extra high voltage transmission systems. In addition, they are also used in the development work on equipment for conducting research, and for planning to ensure economical and reliable extra high voltage transmission systems. 2. Transmission System Equipment in High Voltage Laboratories A high voltage laboratory is expected to carry out withstand tests at high voltages on the following transmission system equipment: (i) Transformers (ii) Capacitors (iii) Cables (iv) Lightning arresters (v) Isolators and circuit breakers (vi) Line hardware and accessories (vii) Other equipment like reactors, etc. 3. Activities and Studies in High Voltage Laboratories On equipment, professors use high voltage laboratories for study and improvement work and conducting tests on equipment. At voltage, more dominant than the test voltage needed, this contains decision making of the security factor for dielectrics and trusty works under varied atmospheric conditions for example rain, fogà ¢Ã¢â€š ¬Ã‚ ¦ Occasionally, it is needed to work problems related test lines and another equipment under pollution and atmospheric conditions. It cannot be done enclosed spaces. Research activities generally contain the following: 1) Breakdown case in insulating media for example solids, liquids, gases or composite systems 2) Insist on voltage on large gaps, requisites used in power systems and surface flashover works on equipment specific reference to the equipment. 3) Electrical interference works because of the discharges from equipment working at high voltages. 4) Works on insulation regulation on high voltage power systems. 5) High current case for example plasma physics, electric arcs. Generally, high voltage laboratories equipped with an expensive tool and that increasing their build cost. As a result, planning and order have to be with caution done in order that with the test rig chosen, the enterprise isnt high and maximum beneficences of the laboratory is done. 4. Classification of High Voltage Laboratories High voltage laboratories can be classified into three types, depending on the purpose for which they are goal and the available finances. (i) Small laboratories (ii) Medium laboratories (iii) Large (general) laboratories 4.1 Small Laboratories Small Laboratories A small laboratory is one that contains d.c. or power frequency testequipment of less  than 10 kW/10 WA rating and impulse equipment of energy rating of about lOKJor  less. Voltage ratings can be about 300 kV for a.c., single unit or 500 to 600 kV a.c. for cascade units,  ±200 to 400 kV d.c. and less than 1OO kV impulse voltage. Normally  the equipment is meant for housing in a room or hall of size 15m x 10 m x 8 m. Sometimes the equipment ratings are limited such that they can be accommodated in  a room of height 5 m to 6 m only. Such laboratories are meant for Engineering  Colleges and Universities who decide to build such a facility with small resources for  doing high voltage tests or research or for imparting training. In such a case, it is  preferable that the Engineering college or University associate with a local industry  or R D organization. It is important to decide and define the responsibilities of the  parties concerned as to how the test facilities and time can be shared. Another idea is  to have the university to decide to own the laboratory fully but throw open the  facilities of regular technical training and high voltage testing for the clients. Here it  may be mentioned that many high voltage problems can be solved by tests at moderate  voltage levels. Such laboratories can be built with an investment of 2 to 10 million  rupees (at 1991 prices).

Factors Affecting Participation with Sustainability

Factors Affecting Participation with Sustainability Participation is an essential component of development and the degree of participation in development programs is a key determinant of success or failure. According to Bagherian et al. (2009) the activites and factors which contribute with success of particiption still unkown and remind a mystery. But some researchers and scholars studied peoples participation and affecting factors in development projects they found some key factors which affect people’s participation. There are a variety of factors affecting local participation in development programmes and projects such as economic, political, legislative, administrative, socio-cultural, and geographical factors. Furthermore, isolation and scattered habitat of the poor people; work load, especially for women, weak health condition, low level of education and exposure to non local information, weak leaders and lack of know-how to move in this direction in order to promote their interests. (Heck, 2003;Cohen Uphoff, 1980; UNDP , 2007; Oakley, 1991). Heck (2003) added some factors and constraints of implementing and support agencies: centralized planning, decision making and implementation, lack of skilled staff to promote participation and pressure from the side of implementing institution and supporting organizations to produce visible results quickly. Economic factors: Mohammad (2010) asserts that economic factors extremely affects peoples participation, which they are bound to live and adjusted. He added that socially poor, minorities and underprivileged communities rarely asked for participation in government lead programs and projects. For the best result, it could be crucial to consider and engage individuals and minorities from different levels in the leadership structure of the community. As Wall et al. (2005) cited that â€Å"Leaders must make every effort to recruit and involve people of both racial and ethnic diversity and with lower socioeconomic status as their interests and concerns should not be ignored† (155). Political factors: Political factors affect peoples participation in different ways. One of the main causes of apathetic situation of people participation in developing countries is political obstacle. Samad (2002) explained that beside of the socioeconomic stance, political background of stakeholders has been an influential factor in the form of participation consequence. He added that those stakeholders, who are politically, socially and economically dominate, for their own interest may frustrate the participation of others (cited in Mohammad, 2010). Heck (2003) stated that in number of countries the rural and urban elites influence the political and administrative structures to turn the policies in their favor. Socio-cultural factors: In some communities, culture directly affects people participation in development projects. Afghan community is one of them, which culture is a big challenge for minorities especially women’ participation. Likewise, Cohen and Uphoff (1980) hinted in their compressive model of people’s participation in rural development that culture is one of three big challenges which affect people’s participation in development initiatives. Beyond all these factors in some cases, people do not want to participate in development projects. For more effective participation some practical steps are very important which include: demanded-led idea for project or program, ensuring that the design is thought of as an investment in a successful outcome and thus given adequate time and other resources, the design incorporates specific activities and resources needed to implement participatory strategies, distinctly specifying the target group who and which groups to be participated and who will benefit, defining the type and level of participation to be achieved and selecting skilled team in participatory approaches (AusAID, 2010). Brahmi and Thakur (2011) undertook a study to find socio-economicfactors which affecting peoples participation in the Hariyali project in Himachal Pardesh, India. For study data were collected from 71 people who were involved in the project and 428 farmers through survey. The study findings showed total 22 factors noticed by respondents which affects people’s participation from these 22 factors 18 were socio-economic factors. The key factors were: lack of awareness about programmes, poor economic conditions, illiteracy, lack of faith in government programmes, village politics, subsidy culture, lack of exposure visits, low interest in money contribution, lack of demonstration and transparency. About 90 percent of the respondents perceived that lack of awareness (i.e. Knowledge of project concepts, objectives and their benefits, guidelines and responsibilities of the user group) were the most challenging factors. The study also revealed some program related factors such as lack of entry point activities, lack of flexibility in expenditure according to field conditions, variation in wage payments and lack of provision of advance payments. Similarly, Nxumalo and Oladele (2013) examined factors affecting farmers’ participation in agricultural program in Zululand district, South Africa. Three municipalities and 90 people were randomly selected. Data were collected through structured questionnaire, frequency count, percentages and the probit regression model were used for analysis. The study showed that farmers were inclined to participation, but luck of fund, unavailability of land, limited resources were major factors for participation. Bagherian et al. (2009) conducted a study to trace the factors which influencing local people’s participation in Watershed Management Programs (WMP) in Iran. Two hundred respondents were questioned through personal interview, correlation and multiple regression were employed for data analyses. The finding demonstrated that the level of people participation was moderate. Regression findings showed five factors had impact on the level of participation of people in this program. These factors were: level of people’s satisfaction of prior programs, people’s attitude toward WMP, people’s knowledge of WMP, their monthly income from alternative occupation and their expectations of WMP. Despite of many problems in Afghanistan two main obstacles have been encountered by National Solidarity Program (NSP) which highly effects people’s participation. First, security problems, due to ongoing conflict in some parts of the country, it has been difficult to contract facilitating people’s participation in such areas has been in danger. This has resulted in a slow pace of programme implementation. Second, local governments and elite of communities, in some regions have interfered in development projects which have brought obstacles for people’s participation (NSP, 2010). Dufour and Antezar (2003) carried out a research to analyze participation and consultation of affected populationin Nahrin district, Baghlan, Afghanistan. Data were collected from the local population, Afghan aid workers, international aid workers and the Afghan interim authorities. For data collection different tools were used such as interview with formal and informal focus groups, visits, participation in meetings, and review of secondary sources. The study showed some contextual factors, for instance security, geography, social characteristics, cultural factors and interference of local power holders. The key factors which affect sustainability have been grouped under nine main headings, namely: partner government and donor policies, local participation and ownership, management and organization, finance, awareness and training, technology, socio-culture, environment and external political and economical factors (AusAID, 2000). Sahee foundation[1](2008) conducted a study to find sustainability of rural development projects in Swaziland. Fifty six rural development projects were surveyed correlation had been tested, used the Kruskal-Wallis test and the Kendall Rank correlation. The findings revealed that the project is not an effortless way to earn wealth with little effort and input. People awareness about their responsibilities, working of knowledgeable persons hand to hand with other members of the project for achieving the common aim likely lead projects to sustainability. Furthermore, the study showed that cooperation between implementing NGOs, beneficiaries and local authorities were mostly satisfactory or even good. Despite of these positive points achieving stable membership was one of the big difficulties in most of the projects. In most cases the membership shrank until a small core group remained. Some projects ended because NGOs had stopped visiting projects after completion due to lack of fund a nd the beneficiaries had no possibility to improve their skills and develop their project. [1] Sahee: Sustainability for Agriculture, Health, Education and Environment (2008)

Free Essays - All Quiet on the Western Front :: All Quiet on the Western Front Essays

Paul Bäumer Paul told the story of the war as it happened to him. The reader is taken from the front line, to a catholic hospital, to his home while he is away on leave. His story tells of the sacrifice the soldiers gave defending their country. It also tells of the difficulties of losing friends, killing another man, and going day after day without much, if any, sleep. He died in October of 1918, just before the war ended. His death was described as this, "...his face had an expression of calm, as though almost glad the end had come." Stanislaus Katczinsky Katczinsky, or "Kat" as he is referred to, is the leader of this group of men. He is the oldest at the age of forty, and also the wisest. His opinion was always taken and his orders were followed. Paul also believe Kat to have a sixth sense. He was able to find anything that was needed in places where no one else could. Once he went out to "explore," then came back over an hour later with bread and meat for dinner. Albert Kropp Albert was one of the students that enlisted at the same time as Paul. He was also a close friend of Paul's. So close that after both had been wounded and were on a train home, when Albert became sick and was scheduled to be taken off at the next stop, Paul went off with him. After this stop they were sent to a hospital to be treated for their wounds. Paul after a few weeks ended up healing fine, the opposite was true for Albert. An infection spread through his leg leading for the need for it to be amputated at the thigh. When Paul returned to the war these two friends parted, never to see each other again. Josef Behm Josef Behm was described as a plump fellow who, at first, did not want to join the war efforts. Later, after being called a coward, he was convinced by his schoolmaster and fellow students to join the army. He was the first of his schoolmates to be killed in action. Detering Detering was a man who mainly kept to himself. He is described as a peasant who thinks of no more than his farmland and his wife. On the way back from the front line he saw a cherry tree with white blossoms.

Andrew Carnegie :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   5162000   Ã‚  Ã‚  Ã‚  Ã‚  Over the last hundred years many great people have come and gone. Only a few of these people have etched a legacy in history that puts them in a category of being influential through out the entire century. To achieve this state of supreme centennial importance ones impact must benefit not only the people living in the present but must also positively affect the men and women of the near and distant future. Anyone who accomplishes this task should be named the most influential person of the Twentieth Century. Because of Andrew Carnegie’s stand against harsh labor, expansion of the steel industry, and extreme generosity with ongoing philanthropic work, history will record him as the most influential person of the Twentieth Century.   Ã‚  Ã‚  Ã‚  Ã‚  Carnegie is most widely known for his monopolization of the steel industry. He developed numerous companies to support the need for steel in the developing United States. He foresaw that following the Civil War steel was going to be an important part of American life. He decided that it would be a smart idea to invest in the developing industry and that decision paid off enormously. (Amer. Exp.) He worked to modernize the United States through the building of bridges, railroads, and other vital roadways, which in turn brought the country together. By 1900, Carnegie Steel Juggernaut produced more steel, than all of Great Britain. In the early part of the Twentieth century large monopolies ruled the industrial world bringing about long hours, low wages, and harsh working conditions. This was also the time when the thought or the attempt to unionize was completely out of the question as far as most leaders of industry were concerned. Andrew Carnegie was the one of the so-called robber barons that took a stand against the unfair working conditions. Carnegie preached the rights of laborers and felt they should unionize to protect their jobs. (Amer Exp 2) As a result of Carnegie’s strong reputation his stand for unionization sent a message to the world that unions can and should be allowed. He persevered to shorten the average workday, and saw industry as a corporation between the worker and the employer. Carnegie felt that work and money were a means to an end. His goal in industry wasn’t to become the richest man but instead to improve himself to benefit the greater good of mankind. He felt that the best way to accomplish this goal was through communication.

Decisions in Robert Frosts The Road Not Taken Essay -- Analysis Road

Decisions in Robert Frost's The Road Not Taken Throughout our lives we are faced with a number of important decisions, decisions that determine an unseen future. The choices, though often virtually identical, lead to different destinies and often leave us asking "what if?" There are not always signs telling us the way to go or the choice to make; we must find out what lies ahead for ourselves. In his "The Road Not Taken," Robert Frost relates to the reader such a choice, symbolic, perhaps of any major decision in life. The traveler in Frost's poem must blindly decide between two similar paths, and this decision greatly affects his life thereafter. In the opening stanza, Frost takes the reader into a "yellow wood," setting the scene. Both this location and time of year are important in the description of the traveler's decision. The idea of being in a forest brings to mind towering trees and plants blocking everything but the path traveled. This image is a way of showing that even though we all are different, everyone must follow certain guidelines. The traveler then "looked down one [path] as ... ...and it has changed his life. As travelers on paths of life, we come to a number of forks each day, and the directions we choose there shape our unique lives. Sources Cited and Consulted Mike Bellah. "The Road Not Taken." Best Years. Online. World Wide Web. 29 Jul 2004. Finger, L. L. "Frost's 'The Road Not Taken': a 1925 Letter come to Light." American Literature 50. Online. World Wide Web. 20 Jul. 2004. Frost, Robert. "The Road Not Taken." The Poetry of Robert Frost. Ed. Edward Connery, Lathem. New York: Hot, Rinehart and Winston, 1969.

Assessment of Financial Health

Reocities Home Neighborhoods Making Of Cases in Finance – Final Project Report Friendly Cards, Inc. (1988) Gary Cao Noah N Flom Robert Harris Srini Pidikiti May 1997 TABLE of CONTENTS 1 Assessment of Financial Health & Pro Forma Financial Statements 1. 1 Review of History and Statement of Financial Health 1. 1. 1 Industry 1. 1. 2 Friendly Cards History 1. 1. 3 Friendly Financials 1. 2 Review and Evaluation of Pro Forma Statements 1. 3 Financial Policy / Covenants 2 Beaumont's Decisions 2. 1 Envelope Machine Proposal 2. 1. 1 Evaluation 2. 1. 2 Financial Effect of Investment 2. 1. Recommendation 2. 2 Evaluation of West Coast (new equity offer) 2. 2. 1 Advantages 2. 2. 2 Disadvantages 2. 3 Valuation of Creative Designs, Inc. 2. 3. 1 Capital Structure Argument 2. 3. 2 Weighted Average Cost of Capital Assumptions (WACC) 2. 3. 3 Cash Flows, Terminal Value, Equity Value Valuations 2. 4 Pooling Implictions (Friendly + CD) 2. 5 Friendly Cards Stock Valuation 3 Overall Assessment 4 Goal s for the Financial Structure of Friendly Cards, Inc. ——————————————————————————- PART 1. Assessment of Financial Health & Pro Formas 1. Review of History and Statement of Financial Health Wendy Beaumont, president of Friendly Cards, Inc. , has rapidly expanded her greeting card business through internal growth and acquisitions. Ms. Beaumont realizes that money is currently tight, however, she is adamant about future growth and has sought our opinion as to determine her best course of action. In presenting a decision we will first conduct an analysis of the industry, then give a short history of Friendly Cards, Inc. (Friendly), and then examine Friendly's financial statements to determine the financial health of the company. Industry Information The greeting card industry is dominated by three large companies, (Hallmark, American Greetings, & Gibson), which are referred to as ‘The Big Three'. ‘The Big Three' dominate market share, and the remaining competitors are predominantly small private and family owned firms. The greeting card industry is characterized high fixed costs due to: large inventory costs, large investment costs in the establishment of efficient distribution lines, and the need for a highly diversified product lines. Market leaders enjoy great economies of scale which tends to hinder new ntrants into the market. As a result, the card industry is capital intensive and very competitive. The number of firms competing in the industry has decreased by an annualized rate of 15% over the last three decades. Exiting firms were typically smaller in size, the majority of which had less than 50 employees. Additionally, the competitive nature of the market results in a high degree of pric e sensitivity which culminates in smaller margins on sales. Sales tend to be very seasonal in nature with peaks during major holidays. There is trending toward a larger variety of card offerings (increasing inventories), shorter carrying/selling periods, increased diversification of product lines, and an increase in sales of everyday cards as compared to holiday cards. Friendly Cards, Inc. Beaumont Greeting Card Co. was founded by Wendy Beaumont in 1978, in New York City. She later acquired Lithograph Publishing Co. and took these companies public a year later for $3 a share under the name Friendly Cards, Inc. Friendly has rapidly expanded by acquiring Glitter Greetings of Lansing, Michigan (for cash and equity), whose primary market was selling cards to supermarkets. Soon thereafter, it acquired Edwards & Co. of Long Beach, New York (for cash), whose primary market was selling juvenile valentines through chain, drug, variety, and discount stores, as well as, to wholesalers and supermarkets. These acquisitions greatly enhanced Friendly's distribution line expanding it to a regional power. Later Friendly acquired a California firm (Friendly Artists) which extended the distribution line to a national basis. Friendly Artists' primary market was prepackaged cards direct to the warehouse. Twenty-five percent of Friendly's sales are prepackaged boxes, which have a higher margin than regular cards due to lower return rates and lower handling costs. Currently, Friendly appears to be a niche player in the prepackaged box cards market and has avoided entry into the premium card market, thus, avoiding direct competition with the ‘Big Three. ‘ Friendly's sales are more concentrated than the industry with the majority of sales occurring near Christmas at 30% (vs. Industry 32%), and Valentines Day at 25% (vs. Industry 7%). Thus, over 55% of sales occur within a 3 month period. Plants at Friendly are being used at capacity thus, growth would necessitate further additions or acquiring contract services. Friendly's distribution line is effective for a smaller firm due to its structure. Of twenty salesmen, one-third work on commission thus lowering Friendly's costs. However, one problem with using salesmen on commission and having such a small sales force is the tendency to sell to rack jobbers and wholesale distributors. This decreases the potential margin on cards by two-thirds. Friendly's Financials Sales have increased by over 50% between 1985 to 1987. Cost of goods sold has decreased as a percentage of sales in each of those years thus, producing an increasing margin ( 29. 36% in 1985 to 35. 15% in 1987). The rapid growth by acquisition and the national distribution channels that were accomplished by it, have affected the number slightly. In 1986 selling and delivery expenses increased by 1. 45% and this leveled out in 1987. G&A expenses also spiked in '86, reflecting the recent purchase of another company, and then settled back in 1987. However, while sales may have grown rapidly they have not matched the increase in asset growth, which nearly doubled in 1986. Growth in this company is being funded by improving margins and by increasing leverage, as indicated by the Dupont Data. Although the acquisitions were acquired by both cash and equity, the majority were debt financed, which explains why the ROE figures have increased so dramatically (almost 16%) in the last three years. The activity ratios indicate that the receivable to payable were in arrears by 36 days in 1985 increasing to 52 days in 1987. This is probably a result of increased sales to less creditworthy individuals or inattention to collections. Inventory turnover umbers are shrinking due to the continually larger inventories being carried. Net fixed asset turnover has decreased by 2. 3% between 1985 and 1987. This can be explained by higher growth in assets than in sales. The liquidity ratios indicate that the asset to liability ratio for this company is trending down. The current ratio indicates that the company is becoming slightly more insolvent with a current ratio of 1. 1 8 during '87. However, by looking at the Quick ratio and discounting for the affect of inventory in the asset number, the company is dramatically less liquid at 0. 67 in 1987. This indicates that the company is very highly leveraged and is using its large inventory levels in order to support its substantial borrowing needs. Friendly's actual growth rate exceeded the sustainable growth rate in 1986 and was equivalent in 1987. This difference in 1986 produced a need for added debt to finance growth. However excess funds were not needed to fund additional growth in 1987 since the actual rate of growth did not exceed the sustainable rate of growth. This can also be seen in the total debt to equity ratio which increased from 3 in 1985 to 5. 21 in 1986 and reduced to 4. 1 in 1987. The leverage ratios indicate that the bank loans to debt are fairly well matched, with loans being less than receivables, however, increasing in percentage. Interest bearing debt jumped dramatically in 1986 as a result of debt funded acquisitions but continues to level off along with total debt to equity figures in 1987. Finally, debt to assets has increased dramatically in the last th ree years, increasing by 7. 5% to 82. 5% in 1987. Thus Friendly Cards seems to be very highly leveraged, even more so than other firms in the industry although the trend is to increase debt. This highly leveraged position coupled with the high fixed costs and low margins characteristic of the industry, exposes Friendly as extremely susceptible to fluctuations in the market. Therefore, further debt growth may not be advisable–especially since it is currently violating its existing debt covenants. However, Continued growth, however, is needed as to allow the company to further take advantage of its existing distribution lines and realize further economies of scale. 1. 2 Review and Evaluation of Pro Forma Statements The parameters that Ms. Beaumont has set for the pro formas seem reasonalbe for the most part. There are, however, some questionable numbers. For instance, all the forecasts are based on continued sales growth at 20% per year. When compared to astronomical growth rates of 58% in 1986 and 27% in 1987, these estimates appear almost conservative. The majority of the growth in the past, however, were associated with major acquisitions which served to inflate the sales numbers. The historical reluctance to use equity to grow would serve to limit growth if continued into the future. Furthermore, it may be difficult to continue to grow at such a high rates in an increasingly competitive market. Holding costs of goods runs at 65% of sales and may also present a problem depending on whether the company can continue to manage its costs as it continues to grow. It could be argued that the reason CGS has dropped recently is due to the acquisition of Friendly Artists and the increasing reliance on a sales mix made up of low cost prepackaged boxes of cards. A shift in the mix away from these items could increase costs. Also, further acquisitions will serve to push up delivery and selling costs. For our purposes, however, holding them flat seems reasonable. The tax rate seems low at 38% but, depending on the new volume of sales and the maximum tax rate for a corporation, this rate could be even higher. And while the rest of the numbers seem to follow their previous assumptions, the inventory turnover, debt to asset, and interest rate assumptions could be assumed differently. As a result of increased competition in the industry, increasing variations of cards as well as shorter holding duration, it is very unlikely that inventory turnover would improve to 1. 1, and it may very well drop well below this number, possibly to 1. 75. Since growth is likely to continue into the future, an increased amount of inventory will be needed for new market areas. Debt to assets needs to decrease, but this will be difficult to do without funding growth by equity rather than debt. The large sales growth assumptions are directly related to acquisitions, thus increasing assets. If this is done through equity, this number is very realistic. Finally, there may be a problem with the assumption that interest rates on LTD will be 11%. The Monetary Policy Report to Congress indicates that rates should tend to decrease in the future so this rate may be attainable even to such a highly leveraged firm as Friendly. Without more information this estimate seems fine. 1. 3 Financial Policy / Covenants Friendly's apparent financial policy is rapid growth by debt. This debt-financed growth may be due to a ownership issues that could affects Ms. Beaumont's control over her company. The financials indicate that growth is also taking place at the expense of margins, as indicated by the Dupont data. The company believes in the economies of scale of the industry and appears to be establishing a national distribution network. While costly in the short run, this strategy may enable a viable and profitable position in the industry. The elements of Friendly's financial policy appear to be the following. Friendly's capital structure mix is governed by a debt orientation. Its debt/assets ratio is currently at 82. 5% which places is significantly below the AAA rate. AAA bonds are listed at 9. 7% while Friendly can only borrow at 11. 5%. While equity has been used in recent acquisitions there is a strong preference by management to use debt funding. Without question, Friendly is at an integral juncture. Existing lines of credit are maxed out and the bank is imposing new covenants on future loans: bank loans ; 85% of AR and liabilities not to exceed three times the BV of the company. Friendly currently has a $6. 25 million line of credit. Under the current structure Friendly will be in violation in 1987 with bank loans at 87% of AR and debt to equity is at 3. 13 times. Significantly, bank and trade credit for Friendly is expected to reach over $9 million in Dec. '87. Long term and short term debt are both fueling growth. The basis is assumed to be the prime rate (which is 8. 5%) plus 2. 5% points. This is assumed to be a fixed rate established at the time of borrowing. The company's currency is the U. S. dollar and the company does not have any exotica policy to mention. Control of the company rests solely with Ms. Beaumont as she is both the president and the leading shareholder, possessing 55% of the stock. An additional 20% of the stock is owned by employees and officers of the company. Finally, earnings are retained for future growth and meeting current obligations. There are no dividend payments and the stock has depreciated in value from a high of $15 a share. PART 2. Decisions faced by Ms. Beaumont 2. 1 Envelope Machine Investment Evaluation of the Envelope Machine We do not agree that the investment in the envelope machine will result in a return of 31%. The reason for this is that the working capital needed to fund the machine would be funded by additional debt by the company. The interest on the debt needs to be considered before evaluating the total return on the investment. Under this scenario, and considering that Friendly Cards' interest on debt is 11% the interest expense is $22,000 per year before taxes. Our Estimated Annual savings from Operation of Envelope Machine, Years 1 through 8 ( Dollar figures in thousands) is as follows: Savings: Outlays for envelopes purchased in 1987 $1,500 Incremental expenses from manufacturing envelopes: Materials$ 902 Warehouse 94 Labor 91 Depreciation 62 Total Expenses $1,149 Increase in Profit before Taxes (decrease in COGS) 351 Interest Expense on Working Capital 22 Actual Increase in Profit before Taxes 339 Increase in Income Taxes @. 38 125 Increase in profit after taxes $ 204 The projected Cash flows for the investment in the machine are: (attachments). Based upon the cash flows projected in the above Table the internal Rate of Return on the investment is 26%. Based upon Friendly Cards Cost of Equity which is 20% (Appendix WACC) buying the machine with all equity at 20% or debt at 11% is recommended Financial Effects of Investment The Financial effects of buying the envelope machine are can be examined in detail in Appendix Machine. The activity ratios for Friendly if the investment in the machine is made are: (attachments). The investment in the machine has the following effects: * Decreases Cost of Goods Sold by about 1. 5 % which in turn increases the Gross Margins * Decreases Inventory Turnover from 1. 91 to 1. 86 * Increases Funds needed in 1988 by $418,000, in 1989 by $323,000 and in 1990 by $112,000. * Earnings per share increase to $2. 89 in 1990 from $2. 53 in 1990 without investment * By making the investment in the machine Friendly would not be able to meet both of the covenants required by the bank The ratio of the bank loans to receivables exceeds . 85 in all three periods. * Ratio of Friendly's total liabilities to the book value of the company's net worth exceed 3 in 1988 and 1989 which do not meet the covenant but in 1990 the ratio drops down to 2. 94 where it meets the covenants. 2. 2 Evaluation of West Coast Offer (New Equity) We agree with Ms. McConville's conclusion that Friendly should accep t the offer from the West Coast Group at the terms stated if that was the only option available to Friendly Cards. The advantages of this proposal would be: Agency costs will be only 5% compared to the actual costs if an investment bank was used to sell securities of the company in a public offering. * The infusion of equity would enable Friendly to meet all the covenants required by the banks (Appendix WC) enabling Friendly to continue its rapid growth without any financial restrictions from the bank. * The equity infusion would enable Friendly to invest in the envelope making machine and reduce its cost structure and still meet all covenants required by the bank. * The uncertainty about how many securities will be sold if a public stock offering is held is eliminated. Continuing rapid growth would enable Friendly to retain most of the sales representatives who might shift to a competing firm if growth is slowed to enable Friendly to meet its financial covenants * The price that Fr iendly is getting is more than reasonable based upon the present value of the discounted cash flows as shown in (Appendix Valuation) Disadvantages of accepting the proposal would be: * Loss of control. Ms. Beaumont's who presently owns 55% of the outstanding shares would own 40. 37% of the company after the equity infusion. Even though along with the employees of the company she would own 60% of the company she would not be able to make unilateral decisions. * The West Coast Investors who would own 26% of the company would have a significant say in how the company should be run which may affect the current management structure and aversely effect their ability to mange the company as they wish. * Reduction of EPS. Earnings per share would be reduced to $2. 29 per share from the projected $2. 89 per share in 1990 with the purchase of the machine and without equity infusion due to the dilution effect of the new shares. This earnings dilution would probably result in a lower share price. (Approximately $18. 32 instead of $23. 12 considering a price multiple of 8). 2. 3. Valuation of Creative Designs, Inc. Capital Structure Argument Ms. Beaumont had been considering a possible acquisition of Creative Designs, Inc. (CD), a small mid-western manufacturer of studio cards. She had examined the details of CD's operations for four months, and believed that under her management, CD could immediately reduce cost of goods sold by 5%, and reduce other expenses by 10%. If Friendly acquires CD in early 1988, assumptions are made that CD's sales would stay flat during 1988 but would grow at 6% per year thereafter. Based on the following table from case facts, there is a wide range of Debt-to-Equity Ratios for the four companies within the same industry. American Greetings'(AG) D/E ratio increased from 0. 35 in 1985 to 0. 63 in 1987. The reason for this upward trend was that American Greetings had diversified its business segments; from solely relying on greeting card sales AG expanded into gift wrap and stationary goods, such as playing cards, gift-books, and college study guides. Such diversification efforts demanded higher debt levels. In addition, AG was a large company with annual sales of $1,174 million in 1987, up 16% from 1985. Gibson Greeting's (GG)D/E ratio decreased from 0. 71 in 1985 to 0. 49 in 1987. The reason for this downward trend was that Gibson was a relatively small company, with annual sales of $359 million in 1987, an 8. 8% increase from 1985. GG's growth rate was significantly lower than American Greetings. The total debt-to-equity ratio of Creative Designs would decrease over the next several years. Since CD's sales in 1987 was $5 million, it was much smaller than the above two companies. Based on the pro forma financial statements for the period of 1988 to 1990, we see growing sales and EBIT. As a small-size manufacturer, the best capital structure would be: financing its operations mainly by internal growth and a significant reduction in the company's debt levels. Ms. Beaumont wanted to acquire CD for the following reasons: * In the highly competitive market with high cost in distribution and low margin, Friendly had to grow in order to survive, and CD was a good target; Since CD's shareholders agreed to the acquisition by stock-exchange, â€Å"pooling of interests† accounting method would be used, and the consolidated financial statements more attractive than without CD, and Friendly need not record goodwill (if any) and avoid amortization of goodwill; * Since CD had a relatively low debt level and a very low â€Å"bank loan to receivable ratio†, while Friendly had difficulty meeting its bank borrowing restrictions, acquiring CD would make possible for Friendly to meet the covenants; Friendly can easily integrate CD to its high growth strategy, and expand Friendly's market presence in the mid-western region. Weighted Average Cost of Capital Assumptions (WACC) Based on the case facts that the premium for equity risk was 6% on long-term governmental bond rate of 8. 37%, we may calculate the unleveraged beta for American Greetings and Gibson Greeting, and use a derived estimate as a proxy for CD's unleveraged beta. 1987 Financial Data for Two Large Publicly Traded Companies To be conservative, we assume the unleveraged beta for CD is 0. 77. Since the cost of debt was 11% and the tax rate was 38%, we calculated CD's cost of equity is 13. 97% in 1988, and the weighted average cost of capital (WACC) is 11. 07%. Over the next five years, CD's WACC would increase to 11. 92% in 1992 due to the decreasing D/E ratio and therefore the tax shield effect. Cash Flows, Terminal Value, Equity Value Valuations In addition to the above information on WACC and sales growth rate, we have made the following assumptions: * Sales will stay flat in 1988, but will grow at 6% per year after 1989. * Cost of goods sold will stay at 55. 2% of sales level. * Depreciation, â€Å"Selling, delivery, and warehousing expenses†, and â€Å"general and administrative expenses† will grow proportionately to sales growth. * Increased Retained Earnings will be used to reduce long-term debt. * Prepaid expenses will increase by a small amount each year. * Interest expenses will decrease over the period since the debt level will decrease. * No divi dend will be paid after 1988. Based on the above assumptions, we found that the total present value for CD was $4. 349 million. Adjusting for the interest-bearing loans totaling $1. million, the net worth of CD would be $3. 049 million, $1. 168 million higher than the calculated value of the stock exchange ($1. 881 million). This indicates that acquiring CD is a good transaction for Friendly. 2. 4 Pooling Implications (Friendly + CD) By using the â€Å"pooling of interests† accounting method, we constructed the Friendly and CD consolidated financial statements. (see Appendix Valuation – Friendly + CD) The impact on 1988 pro forma financial statements is as follows: * New bank loans needed decreased from $1. 585 million to $1. 357 million; * EPS increased from $1. 7 to $1. 73; * Net profit margin increased from 4. 96% to 5. 49%; * Assets turnover increased from 1. 01 to 1. 03; * ROA increased from 5. 01% to 5. 49%; * ROE decreased from 25. 23% to 20. 5%; * Days in Recei vable reduced from 157 to 149; * Bank loan to receivable ratio decreased from 0. 9 to 0. 74; * Interest bearing debt to equity ratio decreased from 2. 62 to 1. 92; * Total debt to equity ratio decreased from 4. 04 to 2. 62. The overall impact of acquiring CD to CF is positive. The result of pooling is in line with Friendly Cards' financial strategy. In the long run, acquisition of CD would become an integral part of Friendly Cards' strategic plan for the next few years to achieve a higher growth rate and increased market share. In the short run, acquisition of CD would meet Friendly Cards' immediate financial needs enabling the company to meet the bank's covenants, specifically, to reduce the â€Å"bank loan to receivable† ratio to an estimated 0. 9 in 1988 to 0. 85 or lower, and to decrease â€Å"total liabilities to equity ratio† from an estimate 4. 04 in 1988 to 3 or lower. The result of pooling shows that these two requirements are met. 2. 5 Friendly Cards Stock Valuation Assumptions: Capital structure Based upon the pro forma financial statements and the bank covenants' requirements, we assume the capital structure to be 75% debt and 25% equity. Any other capital structures with the reduction of debt would make it more difficult to get additional capital through equity. We need the debt financing to be able to meet Ms. Beaumont's growth requirment. Discount rates We assume the cost of debt to be 11%. This is based upon the following facts: In early 1988, interest rates were declining, the 10-year Treasury Notes rate declined from 9. 52% in October 1987 to 8. 9% in January 1988; even though the short-term Prime Rate increased to 9. 07% by October 1987, it had decreased to 8. 5% by January 1988; furthermore, the Federal Reserves Monetary Policy Report(Jan. 1988) stated that â€Å"high rates of capacity utilization and low unemployment suggest the needs in maintaining progress toward price stability†, indicating that interest rates would stabiliz e at the present level. Also the need to reduce the trade deficit, business and labor would continue to exercise restraint in price and wage behavior, indicating the Fed would hold interest rate at the present level, or even reduce them. We assume the interest rates would hold stable at the present level of 8. 5% and that the lending institution will continue its premium of 2. 5% over prime. We assume all the funding for the debt to be short term as most of the debt would be used to fund the current assets (receivable and inventories). This would be a proper matching of funds. Based on the valuation of Friendly Cards, we found that * FCFE Method (Free Cash Flows for Equity): the valuation was -$ . 95 per share ; * Free Cash Flow for Capital: the valuation was -$5. 5 per share ; * Book Value Method: using 11/2 times Book Value the valuation was $7. 40 ; * P/E ratio (multiple) method: using the industry average P/E ratio of 7, the valuation was $9. 50 per share. (Please refer to appendix Valuation – Friendly Cards, Inc. ) The only way the company's stock price was worth $8 to $9. 50 per share was that West Coast Investors and Creative Designs valued the company using a Price to Earnings multiple method. **Note** We attempted to back out a discounted cash flow model that would justify an $8 or $9. 50 share price. By altering certain assumptions, most specifically the sales growth rate we can achieve positive valuations of the stock price. Slower growth in sales PART 3 Overall Assessment Our recommendation to Ms. Beaumont is to (1) First, acquire CD with a stock exchange of 198,000 shares at $9. 5/share, (2) With the additional leverage obtained by the CD acquisition, purchase the envelope machine. As evidenced by the above matrix and graphs, even though Friendly Cards would achieve a higher EPS by not acquiring CD but buying the machine, it would not meet the bank covenants. Advantages of our recommendation: * Meet all of the bank's covenants; * Meet Ms. Beaumont's growth needs; * Meet Ms. Beaumont's requirement on D/E ratio of 2 by 1990; * Maintain a relatively high level of control for Ms. Beaumont over the company; * Position the company for future growth by providing a more favorable D/E ratio. Disadvantages of our recommendation: * EPS dilution by acquiring CD from $4. 64 per share in 1992 as compared to $4. 15 with the CD acquisition; * Reduce Ms. Beaumont's control from currently 55% to 41. 5% with CD acquisition. PART 4 Goals for the Financial Structure of Friendly Cards, Inc. 4. 1 Friendly Cards capital structure consideration Our recommendation is that Ms. Beaumont to move Friendly Cards' capital structure closer to 60% debt and 40% equity (a D/E ratio of 1. 5). Our reasoning for such a recommendation is as follows: Flexibility: For future growth and possible acquisitions, Funds for acquiring more assets (another envelope machine! ) to reduce costs. Risk: Ability to deal with possible adversity into the future (i. e. , low sales) Lower risk level than current D/E ratio Income: Future growth in earnings due to ability to acquire market share through acquisitions. Further exploit the economies of scale to reduce CGS, Handling and Distribution Costs Control: Maintain controlling interests in the company Timing: Having a higher D/E Friendly can issue equity at more favorable terms at a later date when EPS is higher, the market environment is â€Å"friendlier†, and the company will be in a better financial position. Our recommended target capital structure for Friendly Cards, Inc. of 60/40 D/E is realistically attainable within 3-4 years (mid 1991). Friendly Cards Case Attachments

Equality and Human Rights Commissio Essay

stiff compact running(a) is bouncy in a shaverc atomic come up 18 setting be accept we ingest a professional accountability to hold in transgress answers for the boorrenand their families. There atomic number 18 both core principle features that die towards no-hit coalition running(a)(a). These principles argon desegregation and co-production.For prospering integration to take touch, crucial locomote ar taken by local systems that bring services unneurotic that luck fundamental information. The information that is sh argond promotes impressive habitual d take instairsstanding of the makes of the electric shaverren and their families in which an assessment and referrals potty be made.Professionals cream across the sector with recognised experts and cross-de initiatement presidency policy raisers are bashn as Co-production occasionners. This type of coalition operative is competent when every(prenominal) partners are both expeditious in cut backing alongside unity an an different(prenominal), sharing expertise and noesis with some some opposite partners and colleagues. egress 1.2Explain the importance of coalition consorting with ColleaguesIn pincer do by, partnership running(a)s and running(a) as part of a team up up is important in caring for the electric shaverren, and this comes finished having mutual obligingness for ane anformer(a). It is vit aloney important that creating a commanding affinity with other colleagues has a constructive moment on the works and caring environment for the fryren to be part of. all(prenominal) colleague pall on obligate their suffer ideas, suggestions and repairs regarding either the children they work with or the working environment. What is important is that we listen and make out this and provide feedback. As a team we should encourage open and honest chat and all(prenominal) rung issues should be filmt with straightway and promptly with one another without whim intimidated.Offering substitute and advice as a child anguish constabularyman is subjective for the child as fountainhead as colleagues. There are occasions when staff members will carry the support, for example when they are struggling dealing with a behavioral challenge, parents or other agencies. The extra back up will get the situation under control.As a whole, all the knowledge and skills that an individual squeeze out bring to working with colleagues are important. It is crucial to collaborate these with one another in such environments and lot while working together.Other professionals/OthersAs a child care officer I work alongside m whatever other professionals, such as social proles, younker workers and the natural law. Its important that I ready a affinity with these external agencies for the interest group of any child under my responsibility.Where I work, I am fully alive(predicate) of any issues that a child has in the residential setting. Without the assistance of other professionals outdoor(a) the residential setting, I wouldnt be aware of issues that are cause for concern for a child. thusly, its crucial that having a high-priced relationship with other professionals that I can liaise with to ensure me that Im fully aware of any external issues that may reach an force for a child under my care. issue 1.3Analyse how partnership working delivers violate outcome.Partnership does tellm to be an important mechanism for delivering better services and for tackling intricate issues. However partnership working takes such(prenominal) effort and input from staff members to make good and if theconcept loses legitimacy in that location is a danger that people will begin to disengage from this process. The outcomes of partnership working are imperative and it is for this reason that we study to be clear about what grade of working relationships can produce what assortment of impacts for whom, when and why . Glasby,2009 inference 1.4Explain how to overcome barriers to partnership working.There are a number of barriers that can initiate while working in partnership. It is how we deal with them in the stolon place can be vital to resolving power a enigma onward it occurs. Dishonesty and trust can be an issue when working with other agencies. By accepting the challenges each other locution and through honesty and having open talk we can overcome barriers such as dishonesty.Acknowledge each others expertise is describe for a good working relationship. If there was a problem that an area of expertise was take, then having worked in partnership with another agency ahead can overcome this.If love isnt shared then it will go a knock on effect onto all partnership working. Respect is usually passed between everybody through all walks of life. maculation working with other partners and agencies then having respect for one another is a cling that needs to be strong. Ultimately t he annihilate goal for all parties involved is the public assistance of the child, and each and everyone essential respect that.Overall, honesty, trust, citation and respect all come through and are gained through intercourse. Once intercourse is broken d own then problems arise from all different partnerships. All these barriers can be overcome through impressive communication and handgriping all communication channels open. This primarily will amend partnership working. as well you can procure large(p)er equality, mutual respect and satisfaction, as puff up as more efficient use of everyones time. You can execute a positive, empowering and adjuvant relationship with everyone working together towards the same goals.Explain own role and responsibilities in working with colleagues. I am a child care officer working in a residential enlighten. The child care team consists of cardinal other officers and three of whom are precedential child care officers.The residenti al train has a prepare-end and a dormitory room-end. All childcare officers work in partnership with the teachers as the school run a 24hour curriculum. I am in charge of the middle dormitory that has five boys aged between 13 and 15, as well as twain other child care officer. My briny responsibilities are to ensure that the children are well(p) and cared for in the living environment, and that their needs are met emotionally, physically and mentally. operative as a team with colleagues and partners is important as a childcare officer. As part of a team we are equal to(p) to pass precedent any information that may affect any children under our responsibility or any changes or issues around surrounding the team.The role of a childcare officer can be emotionally draining and its vital that I support the staff as well as the behavioural issues the children deal with. As whole the childcare team all support one another and it has a positive effect on the children eudaemonia. co nclusion 2.2Develop and agree common objectives when working with colleagues. Each child care officer has key children that he/she are accountable for. To develop and agree on common objectives I meet with the colleagues once a hebdomad to discuss Individual developmental Plans (IDP) for the key children.The IDP is a run into to agree on a visualise on issues and concerns for the child to work on and develop through each week and school term.All the staff that work closely with the same child have the same objectives, and this is inhouse partnership working along with one another. This approach taken by staff members can have a reflective impact upon a child. end point 2.3 measure own working relationship with colleagues.I believe that my working relationship with other colleagues is incredibly positive. One of key attributes is that I communicate well at all times. through effective communication I olfactory perception that it increase my impudence and therefore have a positi ve impact upon the children under my supervision. If the children can see positive behaviour then they bleed to follow and I need to lead by example for this to occur.The childcare team are all very supportive to one another and I feel comfortable asking for advice or focusing when an issue or occasion arises that I feel may need better expertise. Also I feel that my colleagues know that they could without doubt ask me for any support that they feel they may need and I would help them.I am unendingly looking to improve as a professional and I take great interest of colleagues that have been in the environment for many more years than me. Therefore as well as theoretical evolveing I also adore observational learning through notice my colleagueson a mean solar day to day basis.Outcome 2.4Deal constructively with any appointment that may arise with colleagues. person-to-person likes and dislikes must be put deflection when working as a childcare officer because your main prio rity is the welfare of the children.Having the ability to communicate constructively at all times with other colleagues is inborn and if there are any issues that need be resolved, then we are able to do so through effective communication. If there any conflicts that are cause of concern and needed higher ascendance then our line manager is obtainable to discuss matters. Also in conclusion to this, any issues arising can be brought forward in a staff meeting held at the end of each week.Issues or concerns should be dealt with immediately so that the team morale and effective team work can proceed.Outcome 3.1Explain own role and responsibilities in working with other professionals. The roles and responsibilities are determined by which other professional I work alongside. Each child (depending on the situation) has different working partnership. One of my roles is the responsibility for a childs health and well cosmos. On many occasions I must take the child to the doctors or de ntist. I make appointments with these fellow professionals as well as follow up appointments if needed.I also work with professionals such as Psychologists, Social Workers, Foster Parents, Youth offend Team and Youth Workers. I much meet with these in support of the children I am a key worker for. Although at times having these meeting are emotionally difficult for the child, all the professionals are working together to develop the childs present and future lives.Outcome 3.2Develop procedures for effective working relationships with other professionals. Cross Reference with 4.2Outcome 3.3 find out common objectives when working with other professionals inwardly the boundaries of own role and responsibilities.Observation of staff de-brief meeting. Minutes from meeting. Outcome 3.4Evaluate procedures for working with other professionals.The school and local potentiality have procedures put in place when working with many professionals that cover a number of different situations. These procedures are to hold dear the child and yourself.Looked After Child (LAC) inspection is a procedure which all professionals, carers/parents, and the child work in partnership. This partnership allows all parties including the child the opportunity to give their thoughts and opinions on current issues. It is important that I keep good professional relationships with all that are involved as well as support the child at all times.Outcome 3.5Deal constructively with any conflict that may arise with other professionals. As discussed in outcome 1.1, integration is really important when working together with other professionals. One occasion in the last few months I had to deal with a conflict with a harbor family and a child regarding a school issue. This caused the child to rebel against the foster family as well as the child creation aggressive and threatening. I dealt with the issue constructively by having the family acknowledge the issues that miss ratting other professi onals can cause problems. I then had to educate and rationalize with the parents and child to resolving the issue. Having all parties accept that resolving conflict is often a requisite process toachieve positive or desired outcomes, and then we can learn and move forward.Outcome 4.1Analyse the importance of working in partnerships with others. Ensuring the safety of the child and all partnerships working in childcare is important. On occasions we deal with children that give the law and the police need to be informed. When the nature of the crime is explained to the police, we also need to exchange information regarding the child involved. Through the exchange of information and the other agencies that the police have at their disposal, the potential outcome can meet the individual needs of the child.This is an example that specific expertise of others was needed to resolve an issue that was other than merely breaking the law. The exchange of information, further working partner ships and meeting the individual needs can result in consistency of care for the child. Outcome 4.2Develop procedures for effective working relationships with others. When a child absconds from the residential school grounds, a procedure has put in place to warrant the safety of the child. The starting call is to the senior staff and they are informed immediately that a child has absconded. The school then phone the police to help in the search of the child. Also the school work in partnership with the parents and foster parents to ensure that the issue is explained correctly, what is being done and the outcome of the event. Outcome 4.3 rival common objectives when working with others within the boundaries of own role and responsibilities.ObservationOutcome 4.4Evaluate procedures for working with others.Cross reference with 3.4Outcome 4.5Deal constructively with any conflict that may arise with others. ObservationBibliographywww.childcarenetwork.com/childcare_relationshipsAccessed2 1/07/2013Equality and Human Rights Commission (2010), Policy, Working Better Childcare Matters improving choices and chances for parents and childrenGlasby.J.,Dickinson.H.,(2009) transnational Perspectives on Health And Social reverence Partnership working in action. p162.