Dispersal and Regrouping of Migrant Communities Essay

Dispersal and Regrouping of Migrant Communities - Essay Example Diasporas are only gatherings that vagrants structure based on a common country, culture, and so forth. Framing a diaspora is a manner by which vagrant networks pull together in an outside nation in the wake of getting scattered in their country. A portion of these diasporas are political, and have a colossal task to carry out in the household governmental issues of both the country and the host state just as in universal legislative issues and outside issues of states; yet once more, a portion of these diasporas are objective, and their impact is constrained distinctly to culture-of both the host state and the country. This paper additionally talks about the political and social effects of diasporas. To compose this paper, an assortment of sources have been utilized books just as the web. It is trusted that the paper is convincing in itself and sufficiently clarifies everything that is significant with regards to the dispersal and pulling together of vagrant networks. Yann Martel, the Canadian writer, says something in his Booker Prize-winning novel Life of Pi that is pertinent here: Why do individuals move What causes them to evacuate and leave all that they've known for an incredible obscure into the great beyond Why climb this Mount Everest of conventions that causes you to feel like a hobo Why enter this wilderness of strangeness where everything is new, weird and troublesome The appropriate response is the equivalent the world over: individuals move in the expectation of a superior life. ( 2001: 77) Indeed, it is maybe looking for a superior life that individuals everywhere throughout the world move. Changes in a nation's political and financial circumstance can lead individuals to move from that nation to another-all looking for a superior life. Well-to-do nations in Europe and America are prime goals for transients from Third-World nations, obviously in light of the fact that they guarantee a superior life. Resurgent ethnic, strict and patriot powers have risen up out of the regularly rough crumbling of country states and their reconstitution. These new powers and other new highlights, similar to the unrest in worldwide correspondences, have joined with earlier social, monetary and political weights to produce new examples of movement in the post-Cold War time. Subsequently, from being a moderately fringe worry as of not long ago, relocation has since the late 1980s moved quickly up the universal plan to turn into an issue of warmed open discussion. ( Van Hear, 1998) Questions , for example, who ought to be permitted to move and the rights vagrants ought to have are creating such discussions. Xenophobia and prejudice have regularly made characteristic residents of a specific nation treat migrants in a manner that abuses human rights-this is additionally a prime worry for the universal network. Movement is the same old thing. It has been going on for a considerable length of time individuals moved from Europe to America when this landmass was found, obviously looking for a superior life. Route, harking back to the sixteenth century, the Mughals under Babur moved from West Asia to India-to overcome, truly, at the end of the day looking for a superior life. Significantly prior, the Aryans moved from West Asia and encompassing pieces of Europe to India-that also is a case of relocation. Yet, movement in the late twentieth century and in the 21st century has accepted various extents. Van Hear makes reference to what different pundits have

Volcano Probe Essay Example | Topics and Well Written Essays - 1000 words

Well of lava Probe - Essay Example Weight and temperature changes in a well of lava prompts its structure and its general conduct concerning the time of arrangement to the ejection time frame. It is weight and temperature that clarifies how a spring of gushing lava is framed and how it emits on to the earth surface over the long haul (Beatty, 1998, p. 67). As a rule volcanoes typically happen in regions where structural plates veer or join or where the earth outside stretch or slender as on account of African Rift Valley. Additionally, volcanoes can emerge because of mantle tufts or hotspots which may happen a long way from the dispassionate plate's limits. Where volcanoes happen because of uniqueness of non-romantic plates, new maritime outside layer is framed by hot liquid lock or the magma which gradually cool and set. Basically, the outside layer is flimsy at these edges because of structural plates pull. Weight coming about because of the covering diminishing offers ascend to adiabatic development with another maritime outside framing because of halfway softening of the mantle. With respect to joining non-romantic plates, the crash of a mainland plate and a maritime plate results into a subduction zone which by augmentation results into the submersion of the maritime plate under the mainland plate. The subducting layer discharges water which brings down the temperature of the mantle wedge over the aftereffect of which is magma creation. Then again, hotspots which are generally situated above mantle tufts where there is convection of the mantle of the earth results into a section of hot material that ascents up to the earth outside. Tuft temperature makes the covering melt framing pipes helpful in venting magma (Beatty, 1998, p. 98). Following the above conversation, planning a spring of gushing lava test would expect one to appropriately break down the variables and powers behind spring of gushing lava arrangement. Basically, one would be required to place into thought the warm powers included and it is now that information on warm material science gets fundamental. For this situation, one would be required to plan a temperature and weight estimating framework that is perfect with changes in the two parameters and which can withstand immense changes so far as that is concerned. In that capacity, one would be required to consider the materials with which the weight and temperature estimating framework is worked from as certain materials will most likely be unable to withstand immense changes in these two parameters. For instance, metals are known to liquefy under various temperatures with some softening at lower temperatures than the others. All things considered, a portion of these metals when presented to high weights respond or act uniquely in contrast to the others (A.I.P. 2000, p. 56). Any part intended to contemplate the conduct of a fountain of liquid magma should place into thought all the warm material science parts of weight and temperature in addition to other things. Such things incorporate the admissible weight scope of the weight sensor and the temperature scope of the temperature sensor to be utilized in the estimating instrument. Similarly significant is the weight and temperature scope of the external structure repressing the sensors. In addition, the information gathered by these sensors should be transmitted to a recipient through a transmitter.

Income Protection Insurance Guide Definition, Coverage, Suitability, Pricing, Taxation

Income Protection Insurance Guide Definition, Coverage, Suitability, Pricing, Taxation One of the most important things in your life as an employed person is your income.The term “employed” as used here can either mean employed by someone or self-employed. Both are forms of employment.Hard work pays. And when you get paid for your hard work, you definitely enjoy it.This is the fruit of your labor. It is your income and you have every right to enjoy it.As much as you can go out for dinner, shopping or indulge in some way, your bills cannot be ignored. And key among them is your housing, whether rent or mortgage.Food is equally important and so are the fees for your children’s schooling if you have kids. You might also be pursuing an education yourself.Basically, there are expenses which have to be taken care of.Keeping with the cycle of working, getting paid and settling bills, what if your income suddenly disappeared?This is not a case of negative thinking. It is a call to think about the future.PROTECTING YOUR INCOMEYou obviously wouldn’t want such a situation in your life. You want everything to go well. Your employer to increase your pay.If self-employed, you want more business so as to expand and have increased sales.All this is great and even necessary to think about and look forward to. Still, in the midst of all of this, you need to plan for some not-so-good eventualities in case they show up.One eventuality is illness or disability which can cause you to be unable to work. Being unable to work means potentially being unable to earn an income.This means that you won’t be able to settle your bills. And this is not a good situation to find yourself in.Consider the below statistics: Source: Rocky Mountain ADA CenterIncome Protection InsuranceDisability can happen. In a split of a second, an accident can result in a disability.A seemingly small disease can get worse and become a more life-threatening condition. All this time, your bills will still be accumulating.To stay safe, you can protect yourself using an insurance policy called income protection. This is also known as salary continuance and is used when someone gets sick or injured and is unable to work. This insurance policy will pay you on a monthly basis to sustain you during this time.Income protection insurance can especially be great if you are self-employed or a small business owner.The risks involved in such cases are high since you are the one depended upon by the business. If you are not there, the business stalls.This is different from large corporations where structures and processes have been established. The exit or absence of one employee easily gets sorted and no much harm is experienced.But an income protection insurance policy is not just for the self-employed.The fact that employees have a constant flow of pay makes it easy for them to pay their premiums. They are also able to negotiate lower premium payments.The amount of premium paid is however depended on many factors as will be discussed later in this article.WHICH TYPE OF POLICY IS BEST FOR YOU?It’s important to have some basic understanding of the options available before going into discussions with your adviser.Although he can explain everything and answer all your questions, being informed gives you an opportunity to know what to look for.There are two main types of income protection insurance policies. They are largely different on the basis of application requirements and payment amounts.However, there are still other differences as you will see below.Indemnity Value Income ProtectionThis is the more common income protection insurance policy. It is cheaper than the other alternative. Many people apply fo r it and enjoy how it works.Because of how it has been designed, application is very easy.There are some insurers who have even provided a means for people to apply using their phones.This means that there is no requirement for things such as medical tests.Here is what distinguishes this policy from the other option:1. No proof of income amounts required during application â€" this makes these policies very popular due to the ease of application. All that you will be required to do is state the amount of income you earn.This will be used to calculate the premium amount you will be paying. Even though you are not required to give proof of your income amount, you will do best to be honest.The time of proving the income will come laterâ€"when you make a claim for payment.2. Monthly benefit payment is assessed and agreed upon at the time of claiming â€" when the time to claim comes, you will be taken through a process of finding out the truth of your claims during the application proces s.If you are employed, you will need to provide pay slips as directed by the insurer.This process can be lengthy and tiring for some people. You will have to provide whatever the insurer needs so as to assess the amount to be paid as benefits.3. Benefits paid are the lesser of 75% of your pre-disability income or monthly income insured â€" as the benefits are being calculated, there are two choices which the insurers can use for payment. Either 75% of your income amount before the disability or the monthly income insured.The amount which is lesser than the other is what will be paid out. This can be a bit disappointing in case the amount decided upon is lower than what you expected.This often happens if your salary has reduced since the time you applied.Agreed Value Income ProtectionThis is the other option for you while looking to insure your income.Although the same purposes are served as with the indemnity option, it goes about it a bit differently.This option also tends to be qu ite expensive and not as popular as the indemnity policy.Here are some of the ways it distinguishes itself:1. Income amount is proved during application â€" to apply for this policy, you have to avail yourself to the insurer with evidence of the pay amounts you currently receive.This will be part of the process and the figures will help determine premium amounts.For this reason, those applying for it are fewer. It is also more expensive due to the amounts to be paid as benefits. The next point explains this further.2. Monthly benefit payment is assessed and agreed upon during application â€" as the name of this policy indicates, the amount to be paid is agreed upon at the time of application.Take note that the insurer will have to stick to this figure since it is what has been agreed upon.As such, the insurer has to calculate the premium amounts which will provide the benefits amount. This makes the policy more expensive since the insurer has to cover himself.That only means higher premium payments.3. Provides certainty in the amount to be received after claim â€" once the amount to be paid as benefits is agreed upon, there can be no change. That is the amount that will be paid.This makes the policy a good choice for someone who wants predictability.This helps in planning for those situations in which you might be unable to work. If you know that you will get a certain amount of money which will be enough for your expenses, then you are at peace. HOW MUCH DO INCOME PROTECTION INSURANCE POLICIES COST?This is a central talking point in the discussion about insurance policies. They are definitely an expense and you want to know how much it will cost you.The first thing to understand is that there is no specific answer to this question. Insurance policies differ from one another depending on how they have been designed.As much as there are only two major types, there are things one insurer will consider while the other one won’t.That aside, there are some common factors which determine the cost of income protection policies. Here we will briefly discuss 7 factors.From these, you will be able to know whether yours will be cheaper or expensive.Percentage of Income to be CoveredIn the discussion which you will have with your insurer, you will be the one asking for certain benefits. The insurer will then advise on the possibility or impossibility of your request.Alternatively, you can present your information and request to know how much can be insured.Either way, your needs will be considered and they are at the center of everything. If your needs are more, then you will be required to pay a higher premium.Note that you cannot have a policy which will pay more than your gross salary.This might end up being a case of you benefiting from your illness or injury. More than that, it will simply be against insurance policy standards to offer you such a payment.For the agreed value policy, you will have some room to negotiate a higher benefits payme nt if that’s what you want.Just keep in mind that this is determined by your current income. If your pay cannot sustain it, then you may not get it.Waiting PeriodThe waiting period is the time it takes for the coverage to begin or the claim to be made. It is a duration of time which is agreed on by you and the insurer.This period is usually part of the terms of the policy. It ensures that you cannot claim benefits within a certain time frame.Depending on what you want and what is agreed on, the waiting time will vary. It can be anything from 3 months to even 1 year.In health insurance for example, this is implemented to prevent cases where policyholders claim treatment for a disease they had before the application of the insurance plan.In some cases, some people can attempt making a claim immediately or soon after the coverage plan has began.Where the waiting time is longer, then the premiums will most likely be of lower amounts.The shorter the waiting time, the higher the premium s.Age and GenderYour age and gender are other factors which will determine the cost of your income protection insurance policy. This is informed by the different aspects of life between men and women.For example, women have generally been known to take up more insurance products compared to men. This can be traced down to pregnancies and conditions relating to their nervous systems.This points to more vulnerability. The more vulnerable you are, the higher the risk.In other cases, men might be the ones paying higher premiums because they are more likely to be involved in accidents than women. Accidents are responsible for 10% of the cases of disabilities.The age factor is an obvious one. The older you are, the more at risk you are to become sick. The younger you are, the less the risk. The elderly often have higher premiums because there are many different diseases they may suffer from.The younger ones on the other hand, are more healthy and strong, unless they have a medical conditi on. Source: Employee Benefit AdviserRange of Illnesses CoveredSince these policies cover the inability to work as a result of illnesses or injuries, there are definitely some illnesses which won’t be covered.These are those which can be ruled to be as a result of irresponsible behavior.An example is a case of sickness caused by the continued use of drugs. Drug use has its effects. In many cases, especially in extreme cases of drug abuse, things can get out of hand.Such conditions can be either short-term or long-term.Although short-term conditions can also be dangerous, it is the long-term conditions that will often stand out.Some diseases which can be caused by drug use include heart disease, cancer, lung disease and even mental illness.There is one particular drug, though considered a social drug, that can be very dangerous. In fact many insurers will question you about it. That drug is nicotine.This is found mostly in cigarettes and many insurers will ask you whether you smoke.Healt h StatusYour health status is very important to the insurer. This is because your health determines how soon you can become unable to work.During application, especially for the agreed value policy, you will have to undergo a medical test.What the results will indicate is what will be used to determine the premium.The healthier you are, the less vulnerable you are to diseases. This means cheaper premiums.Some of the diseases ranking highly as dangerous are those relating to your mind and heart.OccupationYour occupation will also play a role in determining how much you pay as premium. It is your daily work that exposes you to risks and so what you do daily counts.The manual and more specialized jobs will attract higher premium payments.For manual jobs, the number of risks involved are many. For example, you may be working in a factory where you are involved in cutting glass.What happens if you one day get injured for handling the glass without special equipment?Some professionals can also be considered high-risk individuals. Surgeons are one of them. Although they don’t do manual jobs, they operate in highly risky environments.Some surgeons work for many hours as they perform surgeries. Where the surgeons are few, the chances of stress-related conditions like anxiety and depression can be experienced.LifestyleYour lifestyle can also determine the cost of your cover. For example, you may be a fan of surfing on the beach. As much as you may be experienced, there are dangers from waves.Your chances of dying in the sea are higher than someone who spends his free time listening to music.At the same time, some sports make you more vulnerable to hurt than others. For instance, your free time may be spent practicing boxing and mixed martial arts.These can cause bodily damage. Compare this with a sport like chess which only engages the mind.Since covers look at the level of exposure to risk, the more risky your lifestyle, the more your cover will cost.TAXATIONFor Inco me protection insurance, the one paying the premiums determines whether the benefits will be tax deductible.If you pay the premiums yourself, then the benefits will not be tax-deductible. This is because you paid taxes from your income. As such, taxing the benefits payout would result in double taxation.On the other hand, if your premiums are being paid by your employer, the benefits from it are taxable. This is because the payments never went through any form of taxation.When the payout is done, this will be a source of income for you.This is why it will be taxed.You might have shared the cost of the premium with your employer. In this case, the taxes deducted will be dependent on the percentage contributed by both parties.For instance, you may have contributed 50% while your employer contributed the other 50%. When the benefits are paid out, 50% of the payment will be taxed. This represents the portion paid by your employer.CONCLUSIONSince you’re not in complete control over you r life, do the wise thing. Insure your income and live with some peace of mind.Then you’ll be safe despite any disruptions in your ability to earn an income.

D.B.H. or Diameter Breast Height Tree Measure

A trees diameter at your breast or chest height is the most common tree measurement made on a tree by tree professionals. It is also called DBH for short. The only other measurement made of a tree as important is a trees total and merchantable height. This diameter is measured over the outside bark using a diameter tape at the point foresters call breast height. Breast height is specifically defined as a point around the trunk at 4.5 feet (1.37 meters in metric using countries) above the forest floor on the uphill side of the tree. For the purposes of determining breast height, the forest floor includes the duff layer that may be present  but does not include unincorporated woody debris that may rise above the ground line. It may assume a 12-inch stump in commercial forests. DBH has traditionally been the sweet spot on a tree where measurements are taken and where a multitude of calculations are made to determine things like growth, volume, yield and forest potential. This spot at breast level is a convenient way of measuring a tree without the need to bend your waist or climb up a ladder to take the measurement. All growth, volume and yield tables are calculated to correspond with DBH. How to Measure DBH There are at least three devices you can use to measure a tree diameter. The most commonly used device is a diameter tape that reads directly into a measurement of diameter in given increments of your prefered unit of measurement (inches or millimeters). There are calipers that will hug the tree and the measurement is read using the caliper scale. There is also the Biltmore stick that is designed to use a sighting angle at a given distance from the eye and reads the left and right trunk sighting. Measuring the diameter of a normally shaped tree is straightforward. There are other situations where measuring DBH should be handled differently. Measuring a forked tree below DBH: Measure the tree diameter just below the fork swell. The measurement should be made at the normal spot if the tree forks above DBH.Measuring multiple stems from ground root sprouts: Measure each stem diameter at diameter breast height.Measuring a straight tree on a slope: Measure dbh at the upper side of the slope.Measuring a leaning tree: Measure the diameter at 4.5 feet from the base and up the lean.Measuring a Swelling Tree Base or Buttress: Measure the tree just above the swell. If the buttress stops before DBH, measure as usual.

Heat of Formation Table for Common Compounds

The molar heat of formation  (also called standard enthalpy of formation) of a compound (ΔHf) is equal to its enthalpy change (ΔH) when one mole of compound is formed at 25 °C and 1 atm from elements in their stable form. You need to know the heat of formation values to calculate enthalpy and for other thermochemistry problems. This is a table of the heats of formation for a variety of common compounds. As you can see, most heats of formation are negative quantities, which implies that the formation of a compound from its elements usually is an exothermic process. Table of Heats of Formation Compound Hf (kJ/mol) Compound Hf (kJ/mol) AgBr(s) -99.5 C2H2(g) +226.7 AgCl(s) -127.0 C2H4(g) +52.3 AgI(s) -62.4 C2H6(g) -84.7 Ag2O(s) -30.6 C3H8(g) -103.8 Ag2S(s) -31.8 n-C4H10(g) -124.7 Al2O3(s) -1669.8 n-C5H12(l) -173.1 BaCl2(s) -860.1 C2H5OH(l) -277.6 BaCO3(s) -1218.8 CoO(s) -239.3 BaO(s) -558.1 Cr2O3(s) -1128.4 BaSO4(s) -1465.2 CuO(s) -155.2 CaCl2(s) -795.0 Cu2O(s) -166.7 CaCO3 -1207.0 CuS(s) -48.5 CaO(s) -635.5 CuSO4(s) -769.9 Ca(OH)2(s) -986.6 Fe2O3(s) -822.2 CaSO4(s) -1432.7 Fe3O4(s) -1120.9 CCl4(l) -139.5 HBr(g) -36.2 CH4(g) -74.8 HCl(g) -92.3 CHCl3(l) -131.8 HF(g) -268.6 CH3OH(l) -238.6 HI(g) +25.9 CO(g) -110.5 HNO3(l) -173.2 CO2(g) -393.5 H2O(g) -241.8 H2O(l) -285.8 NH4Cl(s) -315.4 H2O2(l) -187.6 NH4NO3(s) -365.1 H2S(g) -20.1 NO(g) +90.4 H2SO4(l) -811.3 NO2(g) +33.9 HgO(s) -90.7 NiO(s) -244.3 HgS(s) -58.2 PbBr2(s) -277.0 KBr(s) -392.2 PbCl2(s) -359.2 KCl(s) -435.9 PbO(s) -217.9 KClO3(s) -391.4 PbO2(s) -276.6 KF(s) -562.6 Pb3O4(s) -734.7 MgCl2(s) -641.8 PCl3(g) -306.4 MgCO3(s) -1113 PCl5(g) -398.9 MgO(s) -601.8 SiO2(s) -859.4 Mg(OH)2(s) -924.7 SnCl2(s) -349.8 MgSO4(s) -1278.2 SnCl4(l) -545.2 MnO(s) -384.9 SnO(s) -286.2 MnO2(s) -519.7 SnO2(s) -580.7 NaCl(s) -411.0 SO2(g) -296.1 NaF(s) -569.0 So3(g) -395.2 NaOH(s) -426.7 ZnO(s) -348.0 NH3(g) -46.2 ZnS(s) -202.9 Reference: Masterton, Slowinski, Stanitski, Chemical Principles, CBS College Publishing, 1983. Points To Remember for Enthalpy Calculations When using this heat of formation table for enthalpy calculations, remember the following: Calculate the change in enthalpy for a reaction using the heat of formation values of the  reactants  and  products.The enthalpy of an element in its standard state is zero. However, allotropes of an element not in the standard state typically do have enthalpy values. For example, the enthalpy values of O2 is zero, but there are values for singlet oxygen and ozone. The enthalpy of solid aluminum, beryllium, gold, and copper are zero. The vapor phases of these metal have enthalpy values.When you reverse the direction of a chemical reaction, the magnitude of ΔH is the same, but the sign changes.When you multiply a balanced equation for a chemical reaction by an integer value, the value of  ÃŽâ€H for that reaction must be multiplied by the integer, too. Sample Heat of Formation Problem For example, heat of formation values are used to find the heat of reaction for acetylene combustion: 2C2H2(g) 5O2(g) → 4CO2(g) 2H2O(g) 1) Check to make sure the equation is balanced. Youll be unable to calculate enthalpy change if the equation isnt balanced. If youre unable to get a correct answer to a problem, its a good idea to check the equation. There are many free online equation balancing programs that can check your work. 2) Use standard heats of formation for the products: ΔH ºf  CO2   -393.5 kJ/mole ΔH ºf  H2O -241.8 kJ/mole 3) Multiply these values by the stoichiometric coefficient. In this case, the value is 4 for carbon dioxide and 2 for water, based on the numbers of moles in the balanced equation: vpΔH ºf  CO2   4 mol (-393.5 kJ/mole) -1574 kJ vpΔH ºf  H2O 2 mol ( -241.8 kJ/mole) -483.6 kJ 4) Add the values to get the sum of the products. Sum of products (ÃŽ £ vpΔH ºf(products)) (-1574 kJ) (-483.6 kJ) -2057.6 kJ 5) Find enthalpies of the reactants. As with the products, use the standard heat of formation values from the table, multiply each by the stoichiometric  coefficient, and add them together to get the sum of the reactants. ΔH ºf  C2H2   227 kJ/mole vpΔH ºf  C2H2   2 mol (227 kJ/mole) 454 kJ ΔH ºf  O2   0.00 kJ/mole vpΔH ºf  O2   5 mol ( 0.00 kJ/mole) 0.00 kJ Sum of reactants (Δ vrΔH ºf(reactants)) (454 kJ) (0.00 kJ) 454 kJ 6) Calculate the heat of reaction by plugging the values into the formula: ΔH º Δ vpΔH ºf(products) - vrΔH ºf(reactants) ΔH º -2057.6 kJ - 454 kJ ΔH º -2511.6 kJ Finally, check the number of significant digits in your answer.

Aqa-Scly1-W-Qp-Jun11 Free Essays

General Certificate of Education Advanced Subsidiary Examination June 2011 Sociology Unit 1 Wednesday 18 May 2011 For this paper you must have: ? an AQA 8-page answer book. SCLY1 9. 00 am to 10. We will write a custom essay sample on Aqa-Scly1-W-Qp-Jun11 or any similar topic only for you Order Now 00 am Time allowed ? 1 hour Instructions ? Use black ink or black ball-point pen. ? Write the information required on the front of your answer book. The Examining Body for this paper is AQA. The Paper Reference is SCLY1. ? This paper is divided into three sections. ? Choose one section and answer all of the questions from that section. Do not answer questions from more than one section. ? Do all rough work in your answer book. Cross through any work you do not want to be marked. Information ? The marks for questions are shown in brackets. ? The maximum mark for this paper is 60. ? Questions carrying 24 marks should be answered in continuous prose. In these questions you will be marked on your ability to: – use good English – organise information clearly – use specialist vocabulary where appropriate. G/T64897/Jun11/SCLY1 6/6/ SCLY1 2 Choose one section and answer all of the questions from that section. Section A: Culture and Identity Total for this section: 60 marks Read Items 1A and 1B below and answer questions Item 1A Interactionists see a person’s identity as arising from interactions with other people and from how those interactions are interpreted. For example, social expectations about what is an appropriate leisure activity for an older person may influence what that person does in their spare time. This choice of leisure activity may affect how they see themselves and how others see them, both of which contribute to their sense of identity. Item 1B For Marxists, culture in society reflects ruling-class ideology. It expresses the distorted view of the world put forward by the dominant class and is important in maintaining the system of social inequality that exists in capitalist society. Functionalist sociologists argue that the culture of society reflects the shared values of that society. Society needs a shared culture to run effectively, and various agencies play their part in socialising members of society. 0 0 1 2 Explain what is meant by ‘socialisation’. 5 0 1 to 0 5 that follow. (2 marks) Suggest two reasons, apart from the one mentioned in Item 1A, why leisure choices may vary across different age groups. (4 marks) Identify three characteristics and/or concepts associated with interactionist views of culture and identity, apart from those mentioned in Item 1A. (6 marks) Examine sociological explanations of the ways in which ethnicity may shape social identity. (24 marks) Using material from Item 1B a nd elsewhere, assess sociological explanations of the role of culture in society. (24 marks) 0 3 0 4 0 5 G/T64897/Jun11/SCLY1 3 Section B: Families and Households Total for this section: 60 marks Read Items 2A and 2B below and answer questions Item 2A Many people see childhood as a natural stage of life that is determined by biology. What is expected of children is shaped by their age. However, sociologists suggest that childhood is a social construction. For example, changes in the laws regarding compulsory education and access to the labour market have shaped the experiences of children today. Item 2B Feminists take a critical view of the family. They argue that family life maintains and promotes gender inequality. For example, this is reflected in the domestic division of labour. Housework and childcare in the family, which are carried out mainly by women, are unpaid and hardly recognised as work at all. However, some sociologists suggest that feminist theories ignore the extent of family diversity. In fact, family roles and relationships are varied and therefore women’s experiences of family life are more diverse than some feminists suggest. 0 0 6 7 Explain what is meant by the ‘social construction’ of childhood (Item 2A). 0 6 to 1 0 that follow. 5 (2 marks) Suggest two ways, apart from those mentioned in Item 2A, in which government policies and/or laws may shape the experiences of children today. (4 marks) Identify three reasons why the birth rate has fallen since 1900. Examine the reasons for changes in the divorce rate since 1969. (6 marks) (24 marks) 0 0 1 8 9 0 Using material from Item 2B and elsew here, assess the contribution of feminist sociologists to an understanding of family roles and relationships. (24 marks) Turn over for Section C Turn over ? G/T64897/Jun11/SCLY1 4 Section C: Wealth, Poverty and Welfare Total for this section: 60 marks Read Items 3A and 3B below and answer questions Item 3A In the United Kingdom, there is a mixed economy of welfare provision. This means that a range of different individuals and organisations provides welfare. The state benefits system is part of this provision and includes some benefits that are universal and others that are means-tested or selective. Voluntary groups also provide welfare services alongside the state and other providers. Item 3B Some sociologists suggest that the attitudes and behaviour of the poor themselves are a significant factor in the existence and continuation of poverty. The poor have a distinct subculture that is different from the rest of society. This subculture encourages certain attitudes and behaviour that keep the poor locked in poverty. However, other sociologists question the existence of a set of different norms and values among the poor. Instead, they suggest that poverty arises from the structure and organisation of society. 1 1 1 2 Explain the difference between income and wealth. 1 1 to 1 5 that follow. 5 (4 marks) Suggest two advantages of welfare benefits being universal, rather than selective (Item 3A). (4 marks) Suggest two advantages of welfare provision by voluntary groups (Item 3A). (4 marks) 1 1 3 4 Examine the reasons for the increasing inequality of wealth in the United Kingdom since the 1970s. (24 marks) Using material from Item 3B and elsewhere, assess the view that the attitudes and the behaviour of the poor themselves are responsible for poverty. (24 marks) 1 5 END OF QUESTIONS Copyright  © 2011 AQA and its licensors. All rights reserved. G/T64897/Jun11/SCLY1 How to cite Aqa-Scly1-W-Qp-Jun11, Essay examples

Cultural Competent Care

Question: Discuss about theCultural Competent Care. Answer: Personal Reflection Before I registered for this unit, I had some little knowledge about different Australian communities. I knew that Australia is a diverse nation composed of people from different cultural backgrounds. As a non-indigenous individual, I knew and acknowledged that there are indigenous people like Aboriginals who live in different parts of the country. I also knew that the Aboriginals face numerous socioeconomic challenges that hinder them from accessing quality healthcare services in the country. So, when I registered for this unit, I was happy because I knew that it would give me an opportunity to learn lots of things. I was so enthusiastic to learn about the Australian communities. I had lots of expectations that I was looking forward to fulfill by the end of the unit. First, I was looking forward to learning about the composition of the Australian communities. I wanted to learn a lot about the meaning, similarities, and differences between the indigenous and non-indigenous communities in Australia. Secondly, I wanted to learn about the cultural traditions, beliefs, and values of the indigenous communities in Australia. I had some knowledge that the Aboriginals have a unique set of cultures which make them to be a special group in the country. However, I did not have a sound knowledge of the finer details of such practices because I have never gotten an opportunity to interact with the Aboriginals. Thirdly, I was hoping to learn about the health status of the Aboriginals. I wanted to know the social factors that determine the health of the Aboriginals and make them to require a special attention by the healthcare professionals. Lastly, I was hoping to learn about how the healthcare challenges facing the Aboriginals can be ultimately resolved so as to achieve health equality and equity in the country. I was looking forward to collaborating with my lecturer and fellow students to learn all these because they would make me to be a culturally-competent professional. I would like to point out that my expectations were met. It was a valuable unit because it gave me an opportunity to learn about the Aboriginal community as far as health is concerned. The first lesson I learnt is that the Aboriginals is a minority and disadvantaged group in the country. The community has not been able to access quality health care because of their proximity, poverty, ignorance, unemployment, and cultural views held on health care. Besides, I learnt that the delivery of healthcare services to the Aboriginals should be done by culturally-competent practitioners. Community involvement should be applied when attending to the Aboriginals because it can enable them to accept the service because it makes them feel appreciated, recognized, and accommodated. I learnt that such a strategy can help in improving the health status of the Aboriginals by reducing the high prevalence of lifestyle, respiratory, chronic, and cardiovascular diseases. These lessons changed my philosoph y because, now, I believe that I should be nothing, but a culturally-competent healthcare provider. Case Study The patient is an Aboriginal who should be adequately supported and empowered to improve his condition. A culturally-competent care will be delivered to the patient to enable him manage his diabetic condition. This will be done by carrying out the following: Effective Communication When attending to this Aboriginal patient, I will take the necessary measures to make him feel accepted. I will adopt a therapeutic approach when communicating with the patient. Here, I will make a good use of therapeutic communication strategies. The first thing I will do is to listen to the patient and give him enough time to express his opinions and respond to me. I will have to critically listen to him without unnecessarily interrupting him. Besides, I will allow him to tell me his opinion and respect them no matter how unique it might be. As an Aboriginal, the patient has got certain views that must be sough when attending to him. Therefore, I will have no choice rather than doing so. At the same time, I will accept the patient the way he is. Therapeutic care is a good strategy to apply when attending to an Aboriginal patient. Most Aboriginals do not seek healthcare services because of fear of exclusion or discrimination. However, this is what I will try to eliminate when serving the patient. I will dedicate my time to delivering a good service to this particular Aboriginal patient. The use of therapeutic communication will enable me to establish a good rapport with the patient. At the same time, it will give me an opportunity to win the confidence of the patient and make him to have a trust in me and the services rendered. Cultural Support The patient will be given a culturally-competent care. The care provided should be tailored to suit the needs of an Aboriginal. As an indigenous, the patient has a set of needs that should be met by the healthcare provider. Diabetes is one of the lifestyle diseases that are caused by certain behavioral practices like physical inactivity and smoking. Furthermore, research has established that there is a high prevalence of diabetes amongst the indigenous communities. Therefore, to help the patient, he should be approached using a cultural-friendly approach. The Aboriginals have certain cultural views that expose them to diabetes. Worse still, the Aboriginals engage in risky behaviors that make it difficult to manage the condition. Cultural competent care will be delivered by understanding and appreciating the cultural beliefs of the patient. Before attending to the patient, efforts should be made to know the patients views regarding the condition and the best ways through which an intervention can be delivered. If the patient is given a chance to make contributions, it will be much easier because an acceptable decision will be finally made on how to address the needs. Culturally-competent care can be best delivered if the patient feels respected and involved in the treatment process. Therefore, when attending to the patient, enough time will be taken to know the cultural needs of the patient before taking deliberate steps to satisfy them as required. Reference to the patients cultural views s paramount because it will enable the healthcare provider to accommodate and satisfy all of them. Health Educational Support The patient will be provided with adequate education on diabetes. As already hinted, diabetes is a lifestyle disease that is associated with risky behaviors such as smoking and lack of physical exercises. These are the behaviors that increase the chances of contracting the disease. Therefore, when dealing with the condition, all these issues must be adequately addressed. Meaning, the patient should be taught much about the causes, symptoms, effects, management, and preventive measures for diabetes. This information is important and can empower the patient to make important decisions that can help in improving his health. All the teachings should center on issues like medication compliance, physical exercises, diet, and smoking. When teaching the patient, a culturally-competent approach should be applied. Here, the healthcare provider should use effective communication skills to teach the patient. The practitioner should critically listen to the patient and treat him with the due respect he deserves. The teaching session should be interactive and accommodative. It should cater for the interests of the patient and give him the teachings that will benefit him. If taught how to change the behavior, the patient will be empowered to know how to handle his condition. Many Aboriginals are suffering from diseases like diabetes because of the poor choices made. Therefore, when attending to the patient, it can be much better if the health provider incorporates an aboriginal practitioner. If this is done, the patient can readily accept the service because it is exclusively designed for his own benefit. Provision of Medication In the care plan, the practitioner should take the necessary efforts to prioritize the needs of the patient. After a thorough assessment of the condition, the patient should be given a drug prescription. The drug should be prescribed because it is necessary in managing the patients condition. By prescribing an appropriate medication, the patient will be empowered to effectively manage the condition. It will help in minimizing the physical and emotional pains that might be experienced by the patient. However, the medicine provided should be able to help the patient to address all the pains. At the same time, it should be a medication that is administered in line with the patients cultural views (Parker Milroy, 2014). Before prescribing the medication, it is commendable to know the cultural views of the patient towards the drug before taking the necessary measures to accommodate it. Culture should be considered while prescribing the drug because Aboriginals have certain traditional views towards medicine. The views must be considered because they can determine the success of the administered drugs. As an Aboriginal, the patient subscribes to certain cultural values that must be respected. All these must be accommodated when attending to the patient because it will make him comfortable and satisfied. Culturally-competent is a very important practice that should be applied when attending to such patients because without it, the services provided cannot appeal to the patient. Diabetes is a condition that can be effectively managed if suitable medications are prescribed and administered as directed by the physician.

Leadership Style Emotion

Article Summary The article on Leadership Style Emotion has broadly explored the impact of negative and positive organizational behaviors. According to the authors, all leaders aim at maximizing the ultimate performance of their workers in regards to achieving their organizational goals (McColl-Kennedy Anderson, 2002).Advertising We will write a custom critical writing sample on Leadership Style Emotion specifically for you for only $16.05 $11/page Learn More The leadership style administered is therefore very crucial for reaching and achieving the set goals. The authors assert that the transformational approach in leadership is more yielding compared to the transaction approach (McColl-Kennedy Anderson, 2002). They argue that the style of leadership used contributes greatly in the performance of the subordinate. Links Between Performance and Leadership Nonetheless, McColl-Kennedy Anderson (2002) are careful to note that leadership style cannot be the sole determinant factor in regards to workers’ performance. Factors such as worker’s perception of their leader’s style in leadership greatly affect their performance (McColl-Kennedy Anderson, 2002). Workers feelings about their ability to perform with the type of leadership provided has a great influence on their willingness to perform their duties as the authors assert (McColl-Kennedy Anderson, 2002). The article shows the links between performance and leadership styles as well as the implications of an imbalance between the two. Organizational behavior is greatly influenced by the leadership in an organization. Workers respond positively or negatively in their performance due to the organizational leadership structure. Leadership structures may cause the workers to feel more closely attached to the organization or it can create a social distance that can be detrimental to the success of the organization. There are a number of models of organizational behav ior, which include, Autocrat, custodial, supportive, and collegial models.Advertising Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Leadership Models In the models mentioned above, each meets a certain need. For instance, the autocrat model meets the subsistence needs of the employees. The custodial model on the other hand provides the employer with security and benefits. These two models according to research have been proven to have a minimal performance response. The supportive model as well as the collegiate model both focuses on encouraging the workers hence enhancing their performance. However, with the four models above, not many organizations operate with one exclusively without engaging at least an extra model. Managerial leadership that supports teamwork encourages employees to be responsible and demonstrate friendly relations will fellow colleagues (Roman Boyce, 2001). This po sitive organizational behavior can contribute greatly in achieving organizational goals. If for instance the management could consider investing in their employees through training, the performance of the organization would increase. Case Study, Hypothesis The management in a particular company decided to hold a training program aimed at improving workers’ knowledge on the market needs. They decided to offer training free of charge to their employees. Other employees also attended the seminar from different organization but they had to pay. Almost 90% of the employees of the organizing company attended the seminar, which was designed to improve their skills and productivity in the industry (Gilbreath Harris, 2002). A few months later after the conference, there were notable changes in the organization in terms of workers’ interaction as well as financial growth. The performance of the company went up.Advertising We will write a custom critical writing sample on L eadership Style Emotion specifically for you for only $16.05 $11/page Learn More The company’s workforce became more free and interacted more efficiently with each other and a friendly culture was developed within the organization. The training helped the workers to have closer relations and work as a team. Best Leadership Models Leadership that focuses on the employees is more often successful compared to one that does not (Geller, 2001). Applying such leadership models that focus on the employees’ welfare such as the supportive and the collegial models, workers’ performance improves. This is partly due to a feeling of belonging and being part of the company. A company that supports and pays more attention to employees’ prerequisites benefits from greater loyalty compared to one that does not. With workers feeling as part of the company, their performance will definitely improve positively. Quality of Work Life, QWL and Its Effec ts For best performance among the workers, a leader must be keen to address the organization’s Quality of Work Life, QWL from time to time (Abernathy, 2001). Quality of Work Life refers to the favorable or the unfavorable working conditions in an organization. Leaders are tasked with the responsibility to ensure that the working environment is perfect and that it can allow effective and maximum productivity. According to McColl-Kennedy Anderson (2002), working conditions greatly influence the emotional buildup of workers. The authors indicate that both the leaders and the subordinates may have some negative or positive feelings depending on the working conditions they are subjected to (McColl-Kennedy Anderson, 2002). Conclusion The article therefore has outlined the ways through which leadership in organizations can influence the organizational behavior. According to the authors, subordinates respond positively or negatively to the leadership style that is in place.Advertis ing Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This means that before engaging a leadership model it is critical to analyze its impact on the organizational culture. A leadership style that contradicts workers’ culture will be rejected hence escalate negative emotions. As the authors have indicated, I agree that leadership styles have great impacts on organizational behavior. References Abernathy, B. (2001). Focused vs. Consolidated Measures in Performance Pay Systems. The Behavior Analyst Today, 3 (1), 7–12. Geller, S. (2001). Behavioral Safety: Meeting the Challenge of Making a Large-Scale Difference. The Behavior Analyst Today, 2 (2), 64–75. Gilbreath Harris (2002) Performance-Based Pay in the Workplace: Magic Potion or Malevolent Poison? The Behavior Analyst Today, 3 (3), 311–316. McColl-Kennedya, J., Anderson, R. (2002). Impact of leadership style and emotions On subordinate performance. The Leadership Quarterly, 1 (1) 545–559. Roman, H.R. Boyce, T.E. (2001). Institutionalizing Behavior -Based Safety: Theories, Concepts, and Practical Suggestions. The Behavior Analyst Today, 3 (1), 76–82. This critical writing on Leadership Style Emotion was written and submitted by user Gemma Pacheco to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Prostitution during the 18th and 19th century Essay Example

Prostitution during the 18th and 19th century Essay Example Prostitution during the 18th and 19th century Essay Prostitution during the 18th and 19th century Essay Prostitution became a important of London’s history during the 18th and nineteenth century. At the clip. harlotry was a chronic job of the public order. It became so large in London that it attracted the attending of many groups such as. the church. the province. the medical profession. altruists. womens rightists and others. ( Bartley. 1 ) All of these groups worked together in order to decide the job. even though at the clip harlotry was non illegal. However. it was an activity that many felt was socially unacceptable. Prostitution began because Britain was sing political and societal agitation during the Industrial Revolution. The industrial revolution brought up new societal groups. which had struggled to exercise themselves politically and culturally. ( Fisher. 29 ) During the 18th A ; 19th centuries London had many lacks in their legal system. which can explicate the openness of harlotry. A major factor of this job lays in the fact that about none of the Torahs under which cocottes were most normally arrested in the eighteenth century referred to their offense by name. Alternatively. cocottes were charged for go againsting Torahs. At the clip. Torahs of dark walking were put into the system. The chief aim was to implement a dawn-to-dusk curfew. so the constabulary could maintain the towns under close ticker. London decided that it was clip for to acquire involve and happen a solution before the metropolis went out of control. First of all. constabulary officers started by taking more action on the streets. Besides. they started patroling Disorderly houses. In add-on groups such as the Reformers. Commentators. Church and others. used their ain methods of deciding this job. Finally. how did the people of London feel towards harlotry and cocottes? The streets were going an insecure environment for the citizens of London. Prostitutes started busying the streets of London more often. Throughout the 18th and 19th centuries. the policing of London’s street girls were the duty of the constables. beadles. patrol. and watcher. Their responsibilities were to implement and keep public order. There was a general constabulary force consisting of upper and under Marshals. marshalmen. twenty-four hours and dark patrols and even particular forces for certain towns or countries such as the Smithfield country. Each metropolis had 26 Wards. which in bend produced their ain forces such as constables. beadles. and watchers. All of these work forces were able to implement the Torahs in the propinquity of the Ward. Figure 1 A ; 2. The constabulary force was to be responsible for incorporating street upset and debaring the danger from the uncontrolled and un-socialized categories. the constable function was to move as a domestic missionary. translating and interceding businessperson values in propertyless communities. ( Mahood. 120 ) In 1784. twenty-four hours patrol was introduced in Westminster. Nevertheless. before 1828 no parish anyplace in London had considered it either necessary or desirable to provide†¦ intensive daytime patrols. ( Henderson ( 1 ) . 191 ) During that clip all the resources devoted their clip to every night watch. as they believed it was more of a important period of the twenty-four hours for harlotry. Watchmans were the most intrusive in making their work. and besides reduced the importance of constables. A constable was normally in company with a beadle. whose responsibilities consisted of policing the streets of the parish every bit often as possible throughout the dark. ( Henderson ( 1 ) . 192 ) However. while on responsibility. they would alternatively pass most of their clip in a safer country around the ticker house. Furthermore. they would non even demo up sometimes for responsibility. Furthermore. the Watchman was ever expected to be on the streets from morning boulder clay twilight. It was really of import for the constabulary to unclutter up the streets. Solicitors and cocottes crowded the busy narrow streets of London. It was inevitable either group would come into struggles with other citizens. The public streets were countries where 1 could bask the position and sights of the beautiful metropolis. in add-on to being the chief passageways. for vehicles and walkers. However. to the cocottes the streets. and squares of London were a workplace. ( Henderson ( 1 ) . 198 ) Mr. William Logan was given the responsibility in 1843 to research and happen solutions of harlotry. He was an perceiver of many streets and whorehouse houses. and he stated several solutions towards harlotry. One of the solutions was the policing of the streets. He suggests. from eight to ten o’clock at dark. to bear in head those who are employed to carry on the eventide correspondence and transport it safely. ( Logan. 40 ) Therefore. that offense should. be traced to its beginning every bit accurate as possible. and a system of bar must be introduced. ( Asylums1817. 10 ) Police forces had many jobs in piecing together and during the late 1840’s a one-fourth of the Edinburgh constabularies force was dismissed yearly for misconduct and 63 per centum were recorded as rummy on responsibility. ( Mahood. 120 ) Patroling Disorderly house was another solution London brought about to extinguish harlotry. Disorderly and Bawdy houses were controlled. like street-walking. because of their menace to the well being of the society. They were the causes of eternal mischievousness. and tended straight to the overthrow of Men’s organic structures. to the cachexia of their Supports. and to the endangering of their psyches. ( Henderson ( 1 ) . 253 ) The general society saw these houses as a topographic point without ethical motives or spiritual rules. and instead a topographic point of corruptness. They were besides concerned that the people that worked in the houses were being funded through fraud and robbery. Figure 3. Select Police Committee members in 1816 and 1817 showed great concern of the spread of these cheap licensed houses. They were catered merely for stealers and cocottes. The Committee introduced a licence for selling alcoholic drinks. where if the house did non pattern the Torahs. their intoxicant licence would be removed. The Justices of the Peace had the primary duty. to allow these licences. This process began in 1729 and it still in consequence today. Before 1729. it was possible to acquire a licence from the Stamp Office. which was a pattern that helped maintain open the Disorderly Houses. In 1743. the Gin Act was introduced. and in 1751 confirmed and. forbade any but tavern. victualling house. hostel. java house. or alehouse keepers to keep a licence to sell spiritous spiritss. ( Henderson ( 1 ) . 257 ) When it came clip to regenerate licences. the constable of each Ward or parish was to show to the magistrates a list of those houses necessitating a reclamation of their licence. After that. each Constable would be placed under curse and questioned about the behavior of the house in his territory. every bit good as if any neighbours had made any ailments. ( Henderson ( 1 ) . 258 ) Even though the Constable had spoken good of the house or non. any individual that was present was able to province their expostulations towards the issue. Representatives of the parish or ward raised most of the expostulations. and in some instances there would be the presence of the neighbours. In 1752. London passed the Disorderly House Act. This act encouraged people to turn in the houses and proprietors into the constabulary. If the information led to a charge. the informant would have ?20. The houses where divided into three different categories: First. Second. and Third. Figure 4. Affluent merchandisers. military officers. and those in the higher circle of society normally visited the First category houses. The Second category houses were largely intended for business communities. and blue-collar people. Finally. the Third category houses were for the non so affluent citizens. As a consequence of the close monitoring of these houses and spirits licences. the sum of Disorderly houses dropped. by the terminal of the nineteenth century. Other major groups besides the constabulary wanted to acquire involved to set a halt to harlotry. These groups consisted of Parish commissions. Reformers. and Philanthropist. They all contributed in different ways. The Church helped out the constabulary by engaging watchers. for the country that surrounds them. In 1796. St. James parish in Westminster was using 64 watchers. six beadles and two inspectors every bit good as its organic structure of constables. ( Henderson ( 1 ) . 192 ) Even the smaller parishes helped out and had larger Numberss of people working. This was all possible because in Westminster from 1753. on. a series of Watch Acts where introduced. These Acts of the Apostless gave single parishes. or to the City and Liberty as a whole. the right and responsibility to set up a parochial ticker. under the general supervising of the Middlesex Watch Justices of the Peace. ( Henderson ( 1 ) . 190 ) Besides the churches forbade adult females that were working as cocottes of any spiritual rights. If they were still making the trade until they died. they would non have proper burial rights. The Church besides made its ain tribunal and was responsible for keeping acceptable criterions of Christian behaviour. ( Henderson ( 2 ) . 81 ) Reformers believed that cocottes were victims of upper category work forces who seduced them. However. they besides believed that harlotry was the result of personal moral failing. and hence blamed adult females for harlotry. ( Bartley. 5 ) Moral reformists demanded that the constabulary be granted the authorization to control soliciting and whorehouse maintaining. ( Mahood. 121 ) The Reformers believed the lone manner to extinguish harlotry was to acquire rid of cocottes. In bend. they started and founded a assortment of establishments. such as big penitentiaries. refuges. and even little places. These centres were used as topographic points of rehabilitation. Figure 5. These establishment centres were located within most big metropoliss and towns. In 1758. in Whitechapel. London the Reform opened up The Magdalen Hospital. It was a great success and therefore led to the gap of more establishments. The Church tried non to link all establishments with a spiritual facet. like Lock Hospitals with lock wards. This sort of establishment dealt more with single females and tried to handle them for venereal diseases. Figure 5. By the terminal of the nineteenth century. a particular group was formed. National Union of Women’s Worker ( NUWW ) . whose members met one time a twelvemonth to discourse schemes and to compare patterns. ( Bartley. 26 ) Each establishment had its ain managerial system ; the upper and in-between category managed most of them. There were three chief methods of pull offing a reform establishment: some were managed by work forces who employed female workers as matrons and laundry workers ; some where managed jointly by work forces and adult females ; some were managed by adult females merely. ( Bartley. 27 ) Reform Institutions had great success. Which resulted in a diminution in harlotry. Furthermore. a mixture of clergy and laypersons and adult females ran establishments that were set up by the Church of England. Philanthropists saw harlotry as a job because of its negative consequence on the population. They excessively enforced establishment and ran them similar to the Reform. The bulk of the people in London did non hold with harlotry. nor did they understand it. Peoples of London felt that harlotry was impacting the Modernity of London. Prostitutes disordered the province and threatened the imperium. ( Ogborn. 47 ) Peoples felt that childs that are surrounded by cocottes. particularly male childs would non turn up to be healthy. and productive work forces because cocottes were merely distributing ruin. disease. and decease. Prostitution was an intervention of societal dealingss and the geographicss that surrounded them. which created new relationships and new infinites. It besides was responsible for overthrowing the dealingss of the populace sphere ; even the hierarchies and equalities of the populace sphere were being affected. They besides felt that harlotry caused the ruin of households. Prostitutes were looked upon as evil people. and were treated as though they were infected with the pestilence. They were public nuisances as one tradesman describes. The activities of cocottes and their toughs along Fleet street and Ludgate Hill adversely affected their concern. ( Henderson ( 1 ) . 195 ) It besides became difficult for all the adult females in the town. for they were besides treated like cocottes. For illustration if a adult female were walking on the streets merely after twilight. she would be harassed and insulted. On the other manus. people believed that work forces who engaged with cocottes were non at mistake because of the enticement the adult females give off the male passerby. In 1864. the Contagious Disease Act ( CD Acts ) was passed. It was meant to do paid sex safer for people. particularly those in the armed forces. This act was passed because. at the clip in the Army and Navy. many work forces had contracted genital diseases. So. the authorities enforced that all adult females that were practising harlotry must be inspected. Police were given the authorization to collar any adult female that was suspected of practising harlotry. and do her undergo an internal scrutiny at a Certified Hospital. If a disease were found she would be detained until the disease was cured. Reformers felt that it was just to state that Prostitution helped spaced out the wealth of work forces. because there would be different subdivisions in the community. In one country you would hold work forces that were good away and in another country work forces that were non good off. William Logan describes the misss that he observed were hapless and guiltless kids that were invariably being abused by their protagonists. ( Logan. 26 ) It is clear that prostitutes played a really of import function during the 18th and 19th centuries. which were modernity times of London. Consequently. it was non a good function. Prostitution affected the development and growing of the metropolis. As a consequence. the metropolis had to set a halt to the Acts of the Apostless and began by patroling the streets. They tried to command the narrow overcrowded streets to do them a safer topographic point for other persons. Second. they tried to command Disorderly houses. They achieved this by engaging inspectors and constables to watch the houses. and even enforced Liquor Licenses. Furthermore. groups such as the Church and Reformers had their ain techniques to halt harlotry. Both groups built a series of establishments that were treated as rehab centres. Ultimately. citizens of London had their ain position and apprehension of harlotry. Most felt that it was the ruin of London. and it was impacting the modernisation of the metropolis. particularly refering the societal dealingss and the geographicss that went along with them. Others felt sorrow for these immature misss ; they believed they were victims of upper-class work forces. Although harlotry still exists today. its development in the 18th and 19th centuries will be a important portion of London’s history forever. Work Cited Bartley. Puala. Prostitution: Prevention and Reform in England. London: Routledge. 2000. Fisher. Trevor. Prostitution and the Victorians. New York: Sutton. 1997. ( 1 ) Henderson. Anthony. Female Prostitution in London 1730-1830. London: University of London. 1992. ( 2 ) Henderson. Tony. Disorderly Women in the eighteenth Century London. New York: Longman. 1999. Logan. William. Female Prostitution in London. Leeds. and Rochdale. London: Personal Observation. 1843. Mahood. Linda. The Magdalenes: Prostitution in the nineteenth Century. London: Routledge. 1990. Ogborn. Miles. Spaces of Modernity. New York: Guilford Press. 1998. Report of the Committee of the Guardian Society for the saving of public ethical motives. supplying impermanent Refuges for Prostitutes. Dec. 1815. Report of the Committee of the Guardian Society for the saving of public ethical motives. supplying impermanent Refuges for Prostitutes. Oct. 1817.

Opinion about William Bennet's 1998 Quote on Education Essay

Opinion about William Bennet's 1998 Quote on Education - Essay Example This phenomenon is still, however; conceptually unclear to many people and few understand how it impacts the schools on which the legalization operates (Neal & Kirp, 1985; 2000). There are various aspects of the modern schooling which have been concealed. These include the deterioration such a legalization system imposes in the morality of students and teachers versus that of the parents. The parents have no say when it comes to choosing their children’s teachers. There is not much information given on teachers because of the protection of such information by law. Interestingly, the State knows so little about it. In this confusion, the teachers who are disposed have no idea of each other’s information (State University, 2011). Duplication of knowledge has been proposed as the best way to go for developing countries. Yet, we have restrictions on copyright materials. It is common knowledge that not every student will invent new ideas. Setting up legal restrictions on who can use the education materials and how, poses a great challenge for those who might not afford the cost. As can be seen, the Copyright Act gives a number of exceptional situations to the above law. Protecting the author’s work is good, but this has an effect on limiting the number of people who can access them. This brings about discrimination since not all students will have the money to afford purchase of such materials (Neal & Kirp, 1985; 2000). The legalization of education system in the 1950s brought about the entry of minorities into the public schools that practiced segregation. However; this exposed them to greater problems of chaos and constant violence, which in most cases went unpunished leading to the white flight to private institutions of learning (State University, 2011). Legalizations of education institutions are mostly aimed at making the schools a conducive place for all to acquire education. However; given the restrictions imposed on the teachers and the administration, the schools lose focus on their main missions and objectives. The legalization leads to the known de-emphasis on the teaching process and learning, which are meant to be the basic tenets of institutional establishments in the first place. With the growth of the state into a more litigious status, the schools have become even more bureaucratic in the process. It is truly appalling since learning institutions are supposed to be flexible and nurtures of change, efficiency and effectiveness. Yet many agree that schools, especially institutions of higher learning are the most bureaucratic establishments in the current society. It is like copying the government system and perfecting the art of bureaucracy (State University, 2011). Given the legalization processes, the school administrators turn institutions into fiefdoms as places of exercising their unchecked authority. Principals have had to meet out serious and unfair punishments to teachers who are in record for havin g questioned their status quo. The restrictions given to education institutions could still be looked at as one way of the government’s evasion of responsibility for what goes on in these schools. Instead of being fully involved in the process, the state takes an oversight role and leaves the backlog of problems to the school authorities who end up misusing such powers. Laws alone without a thorough implementation and

Individual Differences (psychology) Essay Example | Topics and Well Written Essays - 1000 words

Individual Differences (psychology) - Essay Example It is fair to say that the Renaissance was a crucial period in the advancement of robust theories pertaining to individual differences among humans. At the outset, it is important to note that human behaviour and personality is much more difficult to understand than that of animals. And more than any other species, human behaviour is subject to interpretation and conjecture, not always leading to easy inferences. Studying individual differences is further thwarted by the fact that human behaviour is an emergent reality and not a fixed one. As our species is provided with an ever increasing repository of knowledge, its behaviour too simultaneously evolves to fit the new reality. Hence, Wilsons following observation is pivotal to understanding differences among humans: â€Å"Today, the greatest divide within humanity is not between races, or religions, or even, as widely believed between literate and illiterate. It is the chasm that separates scientific from pre-scientific cultures....Without the instruments and accumulated knowledge of the natural sciences--physics, chemistry, and biology--humans are trapped in a cognitive prison. They invent ingenious speculations and myths about the origin of the confining waters, of the sun and the sky and the stars above, and the meaning of their own existence. But they are wrong, always wrong, because the world is too remote from ordinary experience to be merely imagined." (Lubinski, 2000) A proven theoretical framework of analysing individual differences is the one based on evolutionary biology. Within this broad framework is the specialized study of human infant intelligence. Since the nature of early intelligence is nonverbal, it is closely linked to primate evolution, and hence helps us gain insights into the origins of individual differences in human intelligence. Within the ontogeny of infant intelligence, variation between individuals is restricted by

Commentary On Voltaires Candide

Commentary On Voltaires Candide Voltaires work, Candide, uses powerful satirical narrative to represent slavery in the eighteenth century, the supposed Age of Reason, and Candides epiphany, represented throughout the course of the extract. The passage follows the travels of Candide and his fellows to Buenos-Aires, in search of his beloved Cunà ©gonde. After five days of travelling, he arrives, with Cacambo, outside the town of Surinam, where they encounter a mutilated slave. The theme of slavery is represented most effectively through the descriptions given by the characters, rather than the physical description of the scene provided by the narrator. A slave or negrave is found on the ground. His physical position, cute;tendu par terre, reflects his social class and the degradation of slaves. The slaves garment, un caleccedil;on de toile bleue, is hardly weather-proof or durable, highlighting the poverty endured by slaves and the ruthless attitude of their masters. Voltaire withholds the name of the slave, emphasising the disregard for human life implied within society. Nà ¨gre is used to represent the entire slave population. This pejorative term further highlights societys attitude. However, it is important to note that Candide first calls him mon ami, indicating his open nature, perhaps a reflection of Voltaires opinion of slavery. Whilst the masters of slaves are very disrespectful of their slaves, the nà ¨gre calls his keeper maà ®tre, showing a profound respect. To add to masters grandeur, the slave recalls his position in society, qualifying it with the adjective fameux. In this paragraph, the depiction of slavery is brutal, with the tragedies of the workplace and punishment discussed with a banal acceptance. The language used when the slave describes how la meule nous attrape le doigt, on nous coupe la main; quand nous voulons nous enfuir, on nous coupe la jambe gives a feeling of breathlessness and the futility of his attempt to escape. This description of suffering draws accurately on legislation concerning delinquent slaves set out in in the 1685 Code Noir.The description also draws a parallel between the relationship between the slave and his master. Voltaires use of restrictive adverbials, such as ne†¦que demonstrate the physical effects of cruelty on the slave. The language used by the slave i s resigned, with a repetitive use of passive structures such as on nous. The slave then coldly states, cest à   ce prix que vous mangez du sucre en Europe. This simple statement highlights the corruption, not only in slavery, but in all levels of society. Leibnizs philosophy of Optimism is evident in the representation of slavery. The slaves resigned account shows an acceptance of life shared with those who follow the belief of Optimism. Leibniz claimed that both human and moral evils were part of a greater good.This is further emphasised by the qualification of slavery by the mother of the slave as un honneur. The slave adds an optimistic cependant; this sudden element of bathos reinforces Pangloss meilleur des mondes outlook on life. This optimistic view, personified through Pangloss, contrasts greatly with Candides opinions after witnessing the situation. The absurdity of Optimism, with reference to the slave-trade, is shown when Cacambo asks, Quest-ce que quoptimisme? Cacambo has not used an article before optimism, emphasising how little he cares for it. With reference to the novel as a whole, Optimism is only mentioned directly within this passage. As soon as it is mentioned, it is denounced. Further to the slaves account, he co mpares his situation with that of des chiens, des singes et des perroquets. The animals might possibly represent the different social classes within society. The passage emphasises how slavery was represented in monetary terms; the slave was sold by his mother for ten à ©cus patagons, the currency of Spain at the time. Moreover, throughout the slaves account of how he came to be in this position, it appears that slavery was represented differently in the West from the homelands of the slaves. The nà ¨gre recalls how his mother told him ils te feront vivre heureux, describing it as an honour to work for nos seigneurs, les blancs. It is interesting that the masters are classed as les Blancs. Voltaire divides society not only by social class, but also by race. It is clear that the people of Guinà ©e were disillusioned by the notion of slavery. The confusion is further emphasised by the religious theme central to the passage. The lexical field of religion emphasises the religious beliefs of the slaves, a central theme in their African culture. Evidently, the slave is religious, as he attends church tous les dimanches. However, Voltaire highlights, yet again, the corruption within society by making it clear to the reader that the slave had been converted. The Pasteur claims that they are tous enfants dAdam, blancs et noirs. This contradicts his earlier statement of the masters being les blancs. Like his clothes and culture, his religious identity has been stripped from him. Here, Voltaire is criticising the social system of the period. It is clear that the slaves are taught what they know not to be true, yet they accept it as it is the way of the world in which they live. Despite Voltaires thought-provoking depiction of slavery in the passage, it is interesting to look critically at Candides attitude to the situation. When he first encounters the slave on the road, he addresses him in a friendly manner, symbolising his naivety and lack of understanding. Voltaires portrayal of Candides naivety is referenced even in his name. Candide is taken from Latin and connotes whiteness, openness, naivety, innocence and, more negatively, inexperience and credulity. The passive language of the slave throughout his description of his horrific ordeal is a direct juxtaposition with the raw emotion portrayed through Candides reaction. The flaws in Panglosss optimism are clearly highlighted, especially during Candides discourse. W.H Barber suggest that the characters help Voltaire in his purpose of parodying the episodic adventure novel [making it possible for the reader] to view characters and narrative as it were externally, and consequently critically to become aware of the caricature and exaggeration, the deliberate implausibilities, the bathetic contrasts. Despite Candides denouncing of belief, he does little else to react to the situation. Candide merely begins to cry, leaving the slave where he found him. The reader criticises Candide for not helping to free the slave from his bind in society. Voltaire is provoking this response in the reader to make clear the effects of passivity. He also seems to regard the problem as so large and horrifying that [†¦] one can only weep and go on ones way, or presumably, continue to eat sugar with a guilty conscience. Throughout this passage, irony plays very little part. However, other narrative techniques are employed. Personal deixis is used when Candide is talking to the slave. He asks, que fais-tu là  , mon ami, dans là ©tat horrible oà ¹ je te vois?Here it is impossible for the reader to understand the situation and the horrible state that the slave is in without reading into the context of the question. The theme of culture can be thoroughly examined in this passage. Talking en hollandais, Candide emphasises his European background compared with the African culture of the slave. Division within society is clearly illustrated when the slave tells Candide that his mutilation is the price that he has paid to eat sugar en Europe. Voltaire demonstrates that the world is divided. Interestingly, the slave understands Candides Dutch, highlighting their cultural awareness, the importance of communication and the enforcement of other cultures upon slaves. The cultural toleration of the slaves is juxtaposed with the attitude of Western civilisation. African culture appears to be more family-oriented when compared with Candides upbringing. The slave refers to his mother, ma mere, showing his respect for the advice given to him by his family. Throughout this passage of Voltaires Candide, slavery is represented in a number of ways, most notably by the description provided by the slave himself. In addition, Candides attitude highlights the philosophy of Optimism that Voltaire aims to discuss throughout the entire book. It is said that the narrative of Candide is [..] a vehicle carefully designed to convey a philosophical discussion of topical concern both to the author and reader. In conclusion, Voltaire has employed a palette of narrative techniques to enrich this passage of the book. Word Count= 1,490 Bibliography MHRA format Barber, W.H., Studies in French Literature 5, Voltaire: Candide (London: W.H. Barber, 1960) Cronk ,Professor Nicholas, Voltaire and the Voices of Enlightenment, read by Simon Russell Beale, (BBC Radio 3, 2010) Mason,Haydn, European Masters  : Voltaire (London  : Hutchinson, 1975) Williams,David, Voltaire:Candide (London: Grant and Cutler Ltd, 1997) Voltaire, Candide, Presentation by Jean Goldzink, (Paris, Editions Flammarion, 2007)

Mobile phone and Landline phone Essay

Phones are important because we rely on them to communicate with other people. Despite the cell phone cannot give you a clear, crystal clear connection as a landline phone. Landline phone is a device which we connect to the output of our homes and businesses. On the other hand, cell phones and mobile have the capacity and advanced technology. While they both perform the same basic function, there are significant differences between landline and mobile phones. There are many differences between landline and mobile phones. Convinces of having a cell phone is that you can have it on hand where ever you go. As for a landline you cannot take it with you. Cell phone have a GPS technology that can find your exact location or where you trying to go. Cell phone also can give you the chance to take live pictures or video camera whereas landline cannot. Cell phone has great features such as watch TV, MP3 players, can store all our contact information, keep track of our appointments, and important dates. The most important advantage of landlines for cell phones that 9-1-1 operators can better determine your location in an emergency. When you call 9-1-1 from a landline phone, the operator can find the exact address where the call originated. When you call 9-1-1 from a cell phone, on the other hand, the operator only receives information about your approximate latitude and longitude, which can be from 50 to 300 yards. If you are in an emergency and cannot speak to give 9-1-1 operator your location, have stationary can save your life. The similarity of landline and cell phone is the fact that they are both used for communication. One quality of the technology they are good for emergencies, for example, if you just need to call a friend or family, as the technology can do this. Both are good and reliable person depends on your needs. In conclusion, we know that cell phones are more comfortable and fashionable than landline. Phones have improved over the year; we have gone from the house phone to cell phones. Cell phones and home phones are similar in a couple of ways, but very different in many ways. Nowadays we see people on the streets with their cell phones, as many people know that it’s easier and cheaper

Project Report on Dabur Company Essay

Declaration By Candidate I wish to state that the work embodied in this project titled â€Å"Financial Modeling Of Dabur† forms my own contribution to management carried out at Vivekanand Education Society’s Institute Of Management Studies & Research Chembur, Mumbaiunder the guidance of Mr.DheerajVaidya, Director, Corporate Bridge Consultancy Pvt. Ltd. Wherever references have been made to intellectual properties of any individuals/ institute/ government/ private/ public bodies/ universities, research paper, text books, reference books, archives of newspapers, corporate, individuals, and any other source of intellectual properties viz., speeches, quotations, conference proceedings, extracts from the websites etc they have been clearly indicated, duly acknowledged and included in the Bibliography. Signature of the candidate Acknowledgment I would like to express my profound gratitude to all those who have been instrumental in the preparation of my project report. On the onset, I would like to thank the organization â€Å"Corporate Bridge Consultancy Pvt.Ltd.† for providing me the opportunity to undertake this summer internship and allowing me to explore the area of valuation and financial modeling, which was totally new for me and which would prove out to be very beneficial in my future assignments, studies and career. I wish to place on records, my deep sense of gratitude for my project guide, Mr.DheerajVaidya, director of corporate bridge consultancy pvt. Ltd. for continuous guidance and encouragement provided to me throughout my internship period. Table Of Contents SR. NO.| CONTENTS| PAGE NO.| 1| Executive Summary| | 2| About Corporate Bridge | | 3| Objective Of Study| | 4| | | 5| Industry Profile| | 6| Company Profile | | | Introduction Of Financial Modeling| | 7| Micro-Economical Factors| | 8| Understanding The Financial Statements | | 9| Research Methodology| | 10| Observations| | 11| Suggestions| | 12| Conclusion| | 13| Appendix| | 14| Bibliography| | 15| | | 16| | | 17| | | 18| | | 19| | | 20| | | | | | | | | | | | | | | | | | EXECUTIVE SUMMARY Indian economy is the fastest growing economy in the world. Indian companies are growing at faster rate in terms of revenue, expansion and global existence. Due to significant growth shareholders are benefitted by good dividend and return on investments in share market. In the last decade equity has given the best return and still the growth phase is continued. But retail investor has also lost his hard earned money due to lack of knowledge and awareness of the equity market. Without knowledge in equity market and trading on tips it become gambling instead of smart investment. Here the role of financial modeling and valuation of securities begins to find out the intrinsic value of the stock, whether it is overvalued or undervalued. Based on the research findings equity analyst recommends whether to buy, sell or hold the stock. In this report I have explained Financial Modeling of Dabur Company. This report begins with the understanding the present micro and macro-economic condition and how they affect the growth of the country. It discusses the present economic indicators and expected growth of India and FMCG industry in the future. The report further analyse financial statements of the Dabur Company. By using historical data and making some assumptions, calculations future earnings are forecasted. After that using DCF valuation we find out intrinsic value and Relative valuation used to compare Dabur with his peers. Hence, this report is an attempt to comprehensively study of Financial Modeling And Valuation Of Dabur Company. About Corporate Bridge Corporate Bridge Group is formed by graduates from leading institutes (IITs, IIMs & AIM). â€Å"Corporate Bridge† as the name suggest, helps in bridging the gap between the aspiring entrant and the corporate world. Corporate Bridge is globally recognized training firm, providing blend of instructor-led and online financial training programs along with e-learning services. With Corporate Bridge’s entrepreneurial spirit coupled with unparalleled experience (CLSA India, KPMG, YES Bank, JPMorgan, SBI Capital Markets, CRISIL etc) and comprehensive capabilities (MBA, CFA, FRM, CAs) across all industries and business functions, we commit to deliver a world class professional training and learning services that continues improving knowledge efficiency. Corporate Bridge Group; has two verticals â€Å"Educorporatebridge† and â€Å"Elearninglabz† *   EduCorporateBridge deals with Online and Instructor Lead Training Programs in various financial courses viz. Equity Research, Wealth Management, Technical Analysis Investment banking, Private Equity, Fundamental Analysis, Investment Research, Credit Research etc and preparatory courses like CFA Level I & II and FRM Level I & II, Campus Placement Trainings Elearninglabz solution portfolio consists of custom e-content development for training and learning needs in collaboration with our clients and subject matter specialist, custom Learning Management System (LMS) suite, Test & Assessment solutions. Industry Overview The Indian FMCG sector is the fourth largest in the Indian economy and has a market size of $13.1 billion. This industry primarily includes the production, distribution and marketing of consumer packaged goods, that is those categories of products which are consumed at regular intervals. The sector is growing at rapid pace with well-established distribution networks and intense competition between the organized and unorganized segments. It has a strong and competitive MNC presence across the entire value chain. The FMCG’s promising market includes middle class and the rural segments of the Indian population, and give brand makers the opportunity to convert them to branded products. It includes food and beverage, personal care, pharmaceuticals, plastic goods, paper and stationery and household products etc. India, Asia’s third largest economy, saw urban consumers spend less in calendar year 2012 due to high inflation, muted salary hikes, and slowing economic growth that affected both real wages and sentiment. During 2012, the overall slowdown in the economy has begun to affect the FMCG sector with companies posting deceleration in volume growth in the recent quarterly results. Discretionary spending has been hit severely due to the ongoing slowdown. The prevailing high inflation level is also a cause of concern for the sector. The trends seen in 2012 are likely to accelerate in 2013. Growth will come from rural dwellers that are expected to see a rise in disposable incomes due to the direct cash transfer scheme, while urban consumers will continue to be affected by the macroeconomic environment. The consumer products industry has been growing at a brisk pace in the past few years backed by robust economic growth and rising rural income. Growth drivers such as premiumization, rapid urbanization, evolving consumer lifestyles and emergence of modern trade have shielded the industry from the slowdown. The consumer products or the Fast Moving Consumer goods (FMCG) sector is valued at Rs 1.6 trillion (Source: Nielsen). The industry is urban-centric with 66% share of the goods being consumed by urban India. Metropolitan cities & small towns (population of 1-10 lakh) have been driving the FMCG consumption in urban India since 2002. In fact middle India, comprising of the small towns and consuming 20% of overall FMCG sales, has been growing the fastest across rural and urban segments. As per Nielsen, the FMCG market size of middle India is set to expand from Rs 287 bn in 2010 to over Rs 4 trillion by 2026. Rural India, where 70% of the population resides but only 34% consume FMCG goods, presents the biggest market potential for the industry. Backed by low unit packs and aggressive distribution reach, rural market size has expanded four times to Rs 564 bn since 2002. Companies such as Hindustan Unilever and Dabur which derive nearly half their sales from rural India have been increasing their reach. FMCG goods are retailed through two primary sales channels – General Trade and Modern Trade. General Trade comprising of the ubiquitous kirana stores is the largest sales channel forming 95% of overall retail sales. However, growth of consumer goods retailed through Modern Trade channel is outpacing the growth of FMCG products in General Trade. Factors such as a comfortable and modern store experience, access to a wide variety of categories and brands under a single roof and compelling value-for-money deals are attracting consumers to organized retail in a big way. But modern trade is still an urban phenomenon with 17 key metros contributing to 73% of overall modern trade in India. Product categories such as packaged rice, liquid toilet soaps, floor cleaners, breakfast cereals, air fresheners & mosquito repellent equipment have a higher penetration in modern trade channel. Despite the relatively recent performance of private label products in India, it is already close to 7% of modern trade sales. Modern Trade is expected to gain greater importance with opening up of foreign direct investment in multi-brand retail. The implementation of the Goods and Services Tax (GST) is expected to benefit the sector immensely by reducing the overall incidence of taxation. GST aims to reduce the cascading effect by replacing a multitude of indirect taxes such as central excise, service tax, VAT and inter-state sales tax with a single GST rate. Moreover, FMCG companies will be able to optimize logistics and distribution costs in the GST era. The resulting cost savings by the companies can be passed on to the final consumer thereby boosting demand. However the implementation of GST has currently been put on the backburner by the government. FMCG Industry size (India) * Of the entire FMCG sector, Food is 52%, Non-Food at 45% and OTC 3% * Growth being driven by increasing consumption led by rise in incomes, changing lifestyles and favourable demographics. * FMCG industry expected  to grow in mid to high teens going ahead. * In the last decade the FMCG sector has grown at an average of 11% a year; in the last five years, annual growth accelerated to 17%. * FMCGs are slowly and gradually positioning and deeply penetrating in the fast growing rural market. The Rural mind set is open to consumption of newer, more contemporary food categories and as a result, drive consistent growth. FMCG industry to be Rs.4000-6000 billion industry by 2020. * Indian rural market currently worth US$ 9 bn is expected to become a US$ 100 bn opportunity by 2025. * By 2025, total consumption is likely to quadruple making India the 5th largest consumer market. * The FMCG sector in India continues on a strong growth path with both urban and rural India contributing to its growth. Rural India contributes one third of FMCG sales in India. * Growth driven by increasing consumption led by rise in incomes, changing lifestyles and favourable demographics. * Rural India accounts for more than 700 Million consumers or 70% of the Indian population andaccounts for 40% of the total FMCG market. * The Rural market is a large market space with very low organized player penetration. Across the globe, the Indian rural market is probably the single largest â€Å"unit† of opportunity also with changing lifestyle and increasing consumer demand, the Indian FMCG market is expected to cross $80 billion by 2026 in towns with population of up to 10 lakhs. * The sector has a tremendous opportunity for growth in India, with the growing population, the rising incomes, education and urbanization, the advent of modern retail, and a consumption driven society. Source: credit suisse * According to credit suisse report, FMCG growth was 14% in the rural market and 16% in the urban market during the quarter ended December 2011; for the quarter ended March 2013, while growth in the urban market improved to 17%, it rose even higher, to 18%, in the rural market. Industry Classification and Performance Three well-identified sets of players operate within a highly developed and intenselycompetitive landscape of the Indian FMCG market. 1. Foreign players who are present through their subsidiaries such as Unilever, P&G, Nestle and PepsiCo 2. Strong Indian players with established national presence such as Marico, Dabur and Godrej Consumer Products. 3. Regional or small domestic players, such as Ajanta, Anchor, CavinKare etc., who are presentin a few regions of the country apart from these, there are regional and small-scale FMCG players such as small teaproducers and organic food producers, who mainly compete by offering low-priced products withsimilar looks or packaging compared to the bigger brands, to the ‘right consumers’ typicallybased in rural areas or in small towns. These players with lower corporate overheads andclear focus on specific consumer requirements have a competitive edge over larger FMCG players. Growth Drivers Government Policies and Regulatory Framework * Investment Approval: Automatic investment approval up to 100 per cent foreign equity forNRI and overseas corporate bodies. These investments are allowed in food processingsegments such as coffee and tea. * FDI in organized retail: India currently allows 100 per cent FDI in Cash & Carry segment and51% in single-brand retail, which is expected to be further increased to 100%. India is also expected to allow 51% FDI in multi-brand retail, which will boost the nascent organized retail market in the country. * Priority Sector: The Government of India recognizes food processing and agro industries aspriority sectors. * Relaxation of license rules: Industrial licenses are not required for almost all food and agro-processing industries, barring certain items such as beer, potable alcohol and wines, cane sugar, and hydrogenated animal fats and oils as well as items reserved for exclusive manufacturing in the small-scale sector. * Statutory Minimum Price: In October 2009, the government amended the Sugarcane ControlOrder, 1966, and replaced the Statutory Minimum Price (SMP) of  sugarcane with Fair andRemunerative Price (FRP) and the State- Advised Price (SAP). Opportunities in the FMCG Sector: Segment Overview: Segment Overview: Household Care * The detergents segment dominates the household care segment and has been growing at an annual growth rate of 10- 11% in the past five years. * The Household care segment is plagued by intense competition and high level of penetration. With rapid urbanization, emergence of small pack sizes and sachets is picking up * Local and unorganized players account for a major share of the total volume ofthe detergent market. Segment Overview: Personal Care Local and unorganised players account for a major share of the total volume ofthe detergent market The detergent segment dominates the household care segment and has been growing at an annual growth rate of 10-11% in the past five years. The Household care segment is plaguedby intense competition and high level ofpenetration. With rapid urbanization,emergence of small pack sizes andsachets is picking up. Segment Overview: Food and Beverages The Food and Beverages segment comprises of the food processingindustry,health beverage industry, breadand biscuits, chocolates & confectionery,Mineral Water and ice creams. The three largest consumed categories ofpackaged foods are packed tea biscuitsand soft drinks. The Indian hot beverage market isdominated by tea and the major share ofthe tea market is dominated byunorganized players. Dabur India Limited overview * Established in 1884 – more than 127 years of Trust & Excellence * Among top 4 FMCG companies in India * World’s largest in Ayurveda and natural healthcare * Revenue of r US$1 Billion (Rs 5,283 Crore) and Market Capitalisation of US$4 Billion (Rs 20,000 Crore) * Wide distribution network covering 3.4 million retailers across the country * 23 world class manufacturing plants catering to needs of diverse markets * Strong overseas presence with 30% contribution to consolidated sales * Dabur India is also a world leader in Ayurveda with a portfolio of over 250 Herbal/Ayurvedic products. * Headquarters: Kaushambi Ghaziabad – 201010 Uttar Pradesh, India * Top management: Dr. AnandBurman (Chairman) Mr.AmitBurman (Vice-Chairman) Mr. Sunil Duggal (CEO) * Employees approximately 3000 Key players at FMCG: Company| Key categories| Hindustan Unilever Ltd| Soaps, Detergents, Personal Care, Foods| Nestle India Ltd| Food, Beverages, Infant Nutrition| Dabur India Ltd| Personal, Health &Homecare, Foods| Godrej Consumer| Hair Care, Soaps| Colgate Palmolive Ltd| Oral Care & Toiletries| GlaxoSmithkline Consumer| Consumer Health Care| Marico Ltd.| Hair care, Food, Skincare| Procter & Gamble | Feminine Hygiene personal care| Britannia Industries Ltd| Biscuits| PEST Analysis Political * Stable political government. * Restrictions in import policies. * Rise in customs duty on petrol & diesel. * Partial withdrawal of stimulus packages Economical * Inflation rate * Decreased GDP * Increase in disposable income. * Indian FMCG Recorded 16% Sales Growth in last fiscal. The FMCG sector is the4thlargest sector of Indian economy with market size of more than 60,000crore Social * Rising rural India. * Consumerism. * Demography Technological * Research and development intensity * Information technology COMPETITOR ANALYSIS The key competitors are KeoKarpin, Emami, Bajaj, Marico, HLL which together with Dabur have about 64% of India’s domestic market. Emami: HimaniNavratan oil and Himani Oil. Emami has taken Madhuri Dixit as brand ambassador for emami oil and Amitabh Bachchan for Himami Navratan Oil. Overall it has a share of 4% in hair oil market. Bajaj: Bajaj Brahmi Amla and Bajaj Almond Drops currently have a value share of 19 per cent and 12 per cent in their respective oil categories as per ORG-Marg. Besides, the company has also decided to enhance its retail presence by nearly 20 per cent from the existing 5 lakh retail outlets in an attempt to reach the rural parts. Maricos: Parachute is premium edible grade oil, a  market leader in its category. Synonymous with pure coconut oil in the market, Parachute is positioned on the platform of purity. In fact over time it has become the gold standard for purity. Parachute’s primary target has been women of all ages. The brand has a huge loyalty, not only in the urban sections of India but also in the rural sector. It has a market share of 28%. HUL It has two products, Clinic plus Hair Oil and All Clear Clinic Hair Oil. Overall it has a 3%share in hair oil market. The key competitors of Dabur in the Chyawanprash segment are Baidyanath, Zandu andHimani, which together with Dabur have about 85% of India’s domestic market. DaburChyawanprash (herbal honey) has a market share of 61%.We have tried to analyse the competition for Dabur in the Chyawanprash segment as follows: SWOT Analysis STRENGTH * Strong presence in well defined niches( like value added Hair Oil and Ayurveda specialties) * Core knowledge of Ayurveda * Strong Brand Image * Distribution Network, Extensive Supply Chain, IT Initiatives and R & D| WEAKNESS * Seasonal demand like chyawanprash in winter * High price Vatika * Limited differentiation in some products like vatika| OPPORTUNITIES * Export opportunities * Increasing demand by people * Market development| THREATS * Existing competition like Zandu, Himani, Baidyanath * New entrant threats from substitutes like Bryllcream for vatika hair oil| Dabur: Strong Presence in FMCG Categories Category| Position| Market share| Key Brands| Hair Care| 3| 12%| DaburAmla hair Oil, Vatika hair oil &Vatika Shampoos| Oral Care| 3| 13%| Red toothpaste, Babool, Meswak, Red toothpowder| Skin Care| 3| 7%| DaburGulabari, Fem| AyurvedicTonics| 1| 67%| DaburChyawanprash| Digestives| 1| 56%| Hajmola| Fruit Juices| 1| 52%| Real Fruit Juices, Real Activ| Honey| 1| 50%| Dabur Honey| Glucose| 2| 25%| Dabur Glucose| Segment wise Market share of Dabur International business * Focus markets: * Egypt * Nigeria * Turkey * Bangladesh * Nepal * U.S. * Leveraging the â€Å"Natural† preference among local consumers to increase share in personal care categories * High level of localization of manufacturing and sales and marketing * Sustained investments in brand building and marketing â€Å"Domestic FMCG companies such as Godrej Consumer Products (GCPL), Marico and Dabur have grown at a robust pace of 20% average annual growth over the last five years. In a bid to expand their businesses further, these companies acquired several foreign brands and companies. Consequently, the share of the international sales to their total revenue has increased. The chart of the day shows that between FY06 and FY12, the contribution of international sales has increased substantially for most FMCG companies. However, the benefit at the top line has failed to percolate at the bottom line. Sometimes, acquired brands take a long time to break-even. Hair-styling brand Code 10 acquired by Marico in 2010 and Dabur’s Namaste acquisition in 2011 continue to remain in red. However, GCPL has seen reasonable success with several acquisitions such as Megasari in Indonesia, Darling Group in Africa and Cosmetica National. This may be on account of the fact that GCPL has focused on product acquisitions in which it has a strong core presence. â€Å" Growth Strategy: Three Growth Strategies Acquire Innovate Expand Expand * Strengthening presence in existing categories and markets as well entering new geographies * Maintain dominant share in categories where we are category builders like Health Supplements, Honey etc. and expand market shares in other categories * Calibrated international expansion – local manufacturing pp y y g and supply chain to enhance flexibility/ reduce response time to change in market demands Innovate * Strong focus on innovation. Have rolled out new variants & products which have contributed to around 5-6% of our growth p.a. * Renovation of existing products to respond to changing demands (Toothpowder to Toothpaste) Acquire * Acquisitions critical for building scale in existing categories & markets * Should be synergistic and make a good strategic fit * Target opportunities in our focus markets Acquisitions of Hobi Group, Turkey * Acquisition of Hobi Group, Turkey for a total consideration of US$ 69 Million completed on October 7, 2010 * Hobi manufactures and markets hair, skin and body care products under the brands Hobby and New Era * Product range of the company is complementary to our product range * Acquisition provides an entry into another attractive emerging market and a good platform to leverage this across the region Acquisitions of Namaste Laboratories * Dabur India Limited through its subsidiary Dabur International Limited acquired 100% stake in Namaste Laboratories LLC for $100 million, in an all-cash deal on January 1, 2011 * Namaste is a leading ethnic hair care products company, having products for women of colour, with revenues of $95 million from US, Europe, Middle East and African markets * The company markets a portfolio of hair care products under the brand ‘Organic Root Stimulator’ and has a strong presence in ethnic hair care market for women of colour. * Acquisition to enable entry into Ethnic Hair Care products market valued at more than US$1.5 billion and tap into significant market opportunity in the fast growing * At an acquisition price of $100 million, the deal value is at 1.1x Sales and 8.3x EBITDA Porters Industry Analysis: Supply:| Abundant supply through a distribution network of over 8 m stores across the country. Distribution networks are being beefed up to penetrate the rural areas. HUL has tripled rural network in 2011 and Dabur wants to double rural reach by FY13.| Demand:| Being items of daily consumption, demand is least impacted by economic slowdown.| Barriers to entry:| Huge investments in setting up distribution networks and promoting brands and competition from established companies.| Bargaining power of suppliers:| Inputs being mostly agri-commodities, the suppliers are numerous and lack scale to wield bargaining power. Companies like ITC that are integrated backwards have lower dependence on suppliers. | Bargaining power of customers:| Customer does not have bargaining power in case of branded products but intense competition within the FMCG companies results in value for money deals for consumers. | Competition:| Competition is faced from domestic unorganized players and established MNC’s. Price wars are a common phenomenon. Private labels offered by retailers at a discount to mainframe brands act as competition to undifferentiated and weak brands.| | Financial year 2013-2014 | With consumer spending remaining healthy, value growth in FMCG sales were over 18% in 2012-13 (Source: Nielsen). All the frontline FMCG companies registered double-digit sales growth during the year. Companies like Dabur, Godrej Consumer Products and Marico posted over 25% topline growth aided by brisk rise in overseas revenues. | | The rural markets continued to lead demand in personal care and oral care products. According to Nielsen’s data, rural sales in washing powder, hair oil and shampoo each contributed more than a third of the overall category sales in FY2012-13. Sales growth in rural markets surpassed that in urban markets in more than 50% of the FMCG categories. Nielsen has projected the size of the rural market to grow ten folds to $ 100 bn by 2025. | | In FY2012-13, margins of FMCG companies were hit by unprecedented increase in price of crude and other commodities. As crude price spiralled above $100 a barrel, price of input crude-derivatives, transportation/freight and packaging costs increased sharply. Advertisement and promotional spends remained high on account of heightened competitive activity. The companies effected judicious price increases and also reduced the packet sizes and stock-keeping units (SKUs). Hence the growth seen by FMCG companies was mostly volume led. The reduction in surcharge from 7.5% to 5% and hike in the base MAT kept effective tax rates unchanged during the year.| | Prospects| | | Household spending on FMCG goods has not witnessed any pressure so far. But going forward, a deficient monsoon is likely to impact farm income and thereby rural spending in the short term. Even in urban India, discretionary spending can get impacted by lower salary hikes and food inflation re-surfacing on poor rainfall. This is more likely to result in down-trading by consumers. | | FMCG companies have been reaping the benefit of waning inflation and series of price-hikes taken earlier. But with the ‘New Standard Packaging’ rules coming into effect in November 2012, the companies will no longer be able to hold prices by reducing the grammage sold. High base-effect in price levels and fears of hurting demand is likely to prevent companies from raising prices substantially. Apart from absorbing higher input costs, FMCG companies may have to bear expenses to bring their  products in line with the new packaging rules. Additionally, even rising competition is expected to keep brand investments by companies high through increased ad-spends and promotional expenses. Therefore, profitability of FMCG companies may witness short-term pain. | | But long term demand potential of FMCG goods remains robust. According to International Labour Organisation, India will have the highest working age population in the world by 2020. The National Council of Applied Economic Research projects the proportion of middle class population to swell from 13.1% at present to 37.2% by 2025-26. Increase in working-age population and rising middle class will translate into higher purchasing power & boost consumerism. Higher penetration and evolution in consumption pattern will drive rural demand. The FMCG sector is expected to reach market size of $ 74 bn by 2018 (Source: FICCI).| | Introduction Of Financial ModelingFinancial modeling refers to the process through which a company builds up a financial representation of some, or even all aspects of the company or the given security. The financial model is generally featured by performing calculations, and making recommendations on the basis of that information. Moreover, the model might also prà ©cis specific events for the end user in addition to providing direction regarding possible alternatives or actions.Theoretically, a financial model is a set of assumptions about future business conditions that drive projections of a company’s revenue, earnings, cash flows and balance sheet accounts. In practice, a financial model is a spreadsheet (usually in Microsoft’s Excel software) that analysts use to forecast a company’s future financial performance. Properly projecting earnings and cash flows into the future is important since the intrinsic value of a stock depends largely on the outlook for financial performance of the issuing company. A financial model spreadsheet usually looks like a table of financial data organized into fiscal quarters and/or years. Each column of the table represents the balance sheet, income statement and cash flow statement of a  future quarter or year. The rows of the table represent all the line items of the company’s financial statements, such as revenue, expenses, share count, capital expenditures and balance sheet accounts. Like financial statements, one generally reads the model from the top to the bottom, or revenue through earnings and cash flows. History as a Guide When trying to predict the future, a good place to start is the past. Therefore, a good first step in building a model is to fully analyze a set of historical financial data and link projections to the historical data as a base for the model. If a company has generated gross margins in the 40% to 45% range for the past ten years, then it might be acceptable to assume that, with other things being equal, a margin of this level is sustainable into the future. Consequently, the historical track record of gross margin can become somewhat of a basis for a future income projection. Analysts are always smart to examine and analyze historical trends in revenue growth, expenses, capital expenditures and other financial metrics before attempting to project financial results into the future. For this reason, financial model spreadsheets usually incorporate a set of historical financial data and related analytical measures from which analysts derive assumptions and projections.Macro-economical Factors: 1. Mid-Quarter Monetary Policy Review: June 2013Monetary and Liquidity MeasuresOn the basis of an assessment of the current macroeconomic situation, RBI has been decided to: * keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of their net demand and time liabilities; and * keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 7.25 per cent.Consequently, the reverse repo rate under the LAF wi ll remain unchanged at 6.25 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 8.25 per cent.2. The above monetary policy stance has been informed by the evolving growth-inflation dynamic, the balance of risks as well as recent developments in the external sector.3. Since the Reserve Bank’s Annual Policy statement in May, global economic activity has slowed and risks remain elevated, most recently on account of uncertainty over policies of systemic central banks. On the domestic front, macroeconomic conditions remain weak, hamstrung by infrastructure bottlenecks, supply constraints, lacklustre domestic demand and subdued investment sentiment. Inflation has  moderated as projected. However, upside pressures on the way forward from the pass-through of rupee depreciation, recent increases in administered prices and persisting imbalances, especially relating to food, pose risks of second-round effects. As recent experience has shown, shifts in global market sentiment can trigger sudden stop and reversal of capital from a broad swath of emerging economies, swiftly amplifying risks to the outlook. India is not an exception.Global Economy4. Global growth has been patchy and uneven. Among advanced economies (AEs), during Q1 of 2013, growth in US and Japan improved while that in the euro area contracted. Growth in most emerging and developing economies (EDEs) has been relatively resilient, although in some large emerging economies, sluggish external demand and stalled domestic investment are dragging down economic activity. Inflation has been easing in the AEs due to weak demand conditions. EDEs, however, present a mixed picture: inflation remains elevated in the BRICS except China. Commodity prices, other than the price of crude, have generally softened in recent months.Domestic EconomyGrowth In May, the Central Statistics Office (CSO) reported India’s GDP growth in Q4 of 2012-13 of 4.8 per cent, a marginal improvement over the previous quarter. During the current financial year, the growth of industrial production decelerated to 2.3 per cent in April after picking up in the preceding month. All constituent categories of industry have slowed, with a persistent contraction in mining activity. The sharp weakening in the growth of capital goods production points to still damped investment demand whereas a pick-up in consumer non-durables could be indicative of a fragile return of consumer confidence. On the other hand, the services sector purchasing managers’ index rose in May on order flows. The onset of the south-west monsoon has been strong and on time.InflationHeadline WPI inflation eased for three months in succession with the May reading at 4.7 per cent, down from an average of 7.4 per cent in 2012-13. All constituent categories, barring food, have moderated. In the fuel category, coal and mineral oil prices declined, partly offsetting the upward revision in administered prices of electricity. Non-food manufactured products inflation too ebbed, driven by metal prices which fell for the eighth successive month in response to softening of global prices. Still ele vated food inflation, particularly in respect of cereals and vegetables, sustained upside pressures on overall  inflation. Retail inflation, as measured by the new combined (rural and urban) CPI, edged down from an average of 10.2 per cent last fiscal year to 9.3 per cent in May.Liquidity Conditions Net average daily borrowings under the LAF have declined gradually, from ` 1.2 trillion in March 2013 to ` 0.7 trillion in June 2013 so far (up to June 14) reflecting the sizable injection of primary liquidity through the reduction in the cash reserve ratio (CRR) in January, open market operations (OMO) purchases during Q4 of 2012-13, a significant reduction in the government’s cash balances with the Reserve Bank as well as two OMOs of ` 0.2 trillion in the current financial year so far. External Factors: The most significant development in the external sector has been the movement in the exchange rate. The rupee depreciated by 5.8 per cent against the US dollar during the current financial year up to June 14. It fell by 6.6 per cent during May 22-June 11 due to sell-off by foreign institutional investors, reflecting risk-off sentiment triggered by apprehensions of possible tapering off of quantitative easing by the US Fed. While the trade deficit has widened sharply due to a surge in festival-related/seasonal gold imports, available evidence suggests that a moderation in gold imports could be underway in June. Capital flows, which met the external financing requirement during April-May, moderated in June.Outlook At the global level, the International Monetary Fund (IMF) has warned of non-trivial risks of the global economy encountering a soft patch in the months ahead. On the domestic front, last year’s robust rabi production and the monsoon performance so fa r augur well for growth prospects. The spatial and temporal distribution of rainfall over the next three months will be crucial in determining the performance of agriculture. The continuing weakness in manufacturing activity needs to be urgently reversed. Key to reinvigorating growth is accelerating investment by creating a conducive environment for private investment, improving project clearance and implementation and leveraging on the crowding-in role of public investment. On the inflation front, easing commodity prices at the global level and weaker pricing power of corporates at the domestic level are having a softening influence. Given that food inflation remains high, the inflation outlook will be influenced by concerted efforts to break food inflation persistence. The inflation outlook going forward will be determined by suppressed inflation being released through revisions in  administered prices, including the minimum support prices (MSP) as well as the recent depreciation of the rupee. Softer global commodity prices and recent measures to dampen gold imports are expected to moderate the CAD in 2013-14 from its level last year. The main challenge is to reduce the CAD to a sustainable level; the near-term challenge is to finance it through stable flows. The most recent number on the Centre’s fiscal deficit, at 4.9 per cent of GDP for 2012-13, has turned out better than expected and instils confidence in the Government’s commitment to contain the fiscal deficit for 2013-14 at 4.8 per cent. Perseverance with this consolidation should help in mitigating the twin deficit risks to the outlook. These positive developments, which have been acknowledged by international credit rating agencies, should have a favourable impact on invest or confidence.Current Account Deficit (CAD) woes: The Reserve Bank of India (RBI) in its monetary policy cut the cash-reserve ratio (CRR) and repo rates by 25 basis points (0.25%). But at the same time it made very clear the various risks that the Indian economy faces. While inflation is certainly one of the key risks, the other equally worrying factor is the current account deficit (CAD). Indeed, in the above chart shows, CAD (as a % of GDP) has been continuously increasing over five consecutive quarters from July-September 2011 (2QFY12) to July-September 2012 (2QFY13). This is bound to have an adverse impact on the stability of the country’s exchange rate at a time when domestic growth has also been slowing down. What is more, the rise in imports has largely been on account of fuel and gold imports. This is of more worrying to the RBI, than had the high CAD been on account of import of capital goods. | Understanding Financial StatementIncome StatementAn income statement (US English) or profit and loss account (UK English) (also referred to as a profit and loss statement (P&L), revenue statement,statement of financial performance, earnings statement, operating statement, or statement of operations) is one of the financial statementsof a company and shows the company’s revenuesand expenses during a particular period.It indicates how the revenues (money received from the sale of products and services before expenses are taken out, also known as the â€Å"top line†) are transformed into the net income(the result after all revenues and expenses have been accounted for, also known as â€Å"net profit† or the â€Å"bottom line†). It displays the revenues recognized for a specific period, and  the costand expenses charged against these revenues, including write-offs (e.g., depreciation and amortization of various assets) and taxes.The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported. The important thing to remember about an income statement is that it represents a period of time. This contrasts with the balance sheet, which represents a single moment in time.Balance SheetIn financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, abusiness partnership, a corporation or other business organization, such as an LLC or an LLP. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a â€Å"snapshot of a company’s financial condition†. Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business’ calendar year.A standard company balance sheet has three parts: assets, liabilities and ownership equity. The main categories of assets are usually listed first and typically in order of liquidity.Assets are f ollowed by the liabilities. The difference between the assets and the liabilities is known as equity or the net assetsor the net worth or capital of the company and according to the accounting equation, net worth must equal assets minus liabilities.Another way to look at the same equation is that assets equal liabilities plus owner’s equity. Looking at the equation in this way shows how assets were financed: either by borrowing money (liability) or by using the owner’s money (owner’s equity). Balance sheets are usually presented with assets in one section and liabilities and net worth in the other section with the two sections â€Å"balancing†.Cash Flow StatementIn financial accounting, a cash flow statement, also known as statement of cash flows, is a financial statementthat shows how changes inbalance sheetaccounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities. Essentially, the cash flow statement is concerned with the flow of cash in and out of the business. The statement captures both the current operating results and the accompanying changes in the balance sheet. As an analytical tool, the statement of cash flows is useful in determining the short-term viability of a company,  particularly its ability to pay bills. International Accounting Standard 7 (IAS 7), is the International Accounting Standardthat deals with cash flow statements.People and groups interested in cash flow statements include: * Accounting personnel, who need to know whether the organization will be able to cover payroll and other immediate expenses * Potential lendersor creditors, who want a clear picture of a company’s ability to repay * Potential investors, who need to judge whether the company is financially sound * Potential employees or contractors, who need to know whether the company will be able to afford compensation * Shareholders of the business.Th e cash flow statement is intended to 1. provide information on a firm’s liquidity and solvency and its ability to change cash flows in future circumstances 2. provide additional information for evaluating changes in assets, liabilities and equity 3. improve the comparability of different firms’ operating performance by eliminating the effects of different accounting methods 4. It indicates the amount, timing and probability of future cash flows.Working CapitalWorking capital (abbreviated WC) is a financial metric which represents operating liquidity available to a business, organization or other entity, including governmental entity. Along with fixed assets such as plant and equipment, working capital is considered a part of operating capital. Net working capital is calculated as current assets minus current liabilities. It is a derivation of working capital that is commonly used in valuation techniques such as DCFs (Discounted cash flows). If current assets are less than current liabilities, an entity has a working capital deficiency, also called a working capital deficit.A company can be endowed with assets and profitability but short of liquidity if its assets cannot readily be converted into cash. Positive working capital is required to ensure that a firm is able to continue its operations and that it has sufficient funds to satisfy both maturing short-term debt and upcoming operational expenses. The management of working capital involves managing inventories, accounts receivable and payable, and cash.Horizontal AnalysisA procedure in fundamental analysis in which an analyst compares ratios or line items in a company’s financial statements over a certain period of time. The analyst will use his or her discretion when choosing a particular timeline; however, the decision is often based on the investing time horizon  under consideration.Formula,= current year-base yearbase year| Vertical AnalysisVertical analysis of financial statements is a technique in which the relationship between items in the same financial statement is identified by expressing all amounts as a percentage a total amount. This method compares different items to a single item in the same accounting p eriod. The financial statements prepared by using this technique are known as common size financial statements.Trend AnalysisTrend Analysis is the practice of collecting information and attempting to spot a pattern, or trend, in the information. Although trend analysis is often used to predict future events, it could be used to estimate uncertain events in the past, such as how many ancient kings probably ruled between two dates, based on data such as the average years which other known kings reigned.= Current year*100 Base yearDiscounted Cash Flow (DCF) AnalysisIn finance, discounted cash flow (DCF) analysis is a method of valuing a project, company, or asset using the concepts of the time value of money. All future cash flows are estimated and discounted to give their present values (PVs)—the sum of all future cash flows, both incoming and outgoing, is the net present value (NPV), which is taken as the value or price of the cash flows in question. Present value may also be expressed as a number of years’ purchase of the future undiscounted annual cash flows expected to arise.Using DCF analysis to compute the NPV takes as input cash flows and a discount rate and gives as output a price; the opposite process—taking cash flows and a price and inferring a discount rate, is called the yield.Discounted cash flow analysis is widely used in investment finance, real estate development, and corporate financial management.What is relative valuation? In relative valuation, the value of an asset is compared to the values assessed by the market for similar or comparable assets. To do relative valuation then, – we need to identify comparable assets and obtain market values for these assets – convert these market values into standardized values, since the absolute prices cannot be compared This process of standardizing creates price multiples. – compare the standardized value or multiple for the asset being analyzed to the standardized values for comparable asset, controlling for any differences between the firms that might affect the multiple, to judge whether the asset is under or over valuedInterpretation of DCF valuation and Relative valuation| Review of Literature Mostly financial modeling of dabur was done before by equity research analyst of various research agencies, mutual funds, investment banks and brokerage house. Generally they have done it quarterly and annually before and after the company’s financial results. Justification and Likely Benefits Why financial modelingis important? Financial modeling acts as a useful tool which enables business options and risks to be estimated in a cost-effective way against various assumptions, recognize optimal solutions in estimating financial returns and understand the effect of resource constraints thus leading to more effective business decisions. Financial modeling can be referred as an art and like any other art form, it requires constant [practice and commitment to develop expertise in this area. In the present day world, many companies are becoming globally integrated with the international economy through the way of acquiring/establishing international operations. This calls for the requirement of strong financial models which can assist in performing the evaluation of every country’s operations, reflect on multiple currencies in their model, estimate varying capacity utilizations to estimate the optimal capacity under changeable industry demand-supply scenarios and similar more cases. Scope of Financial Modeling? Financial Modelling is a key skill with application in several areas withinbanking and finance industry as well as within corporations. In financialmodelling you learn to gather historical information on companies andanalyze company / industry performance on various financialparameters. This analysis is then used to build a company’s financialmodel, which in turn is key to projecting a future financial performance.Based on this model companies investors can arrive at a suitableevaluation for the companies. Financial models are usually made for financing of a project intransactions like: PPP/PFI, Mergers & Acquisitions, Valuation ofbusinesses etc. across various industries & sectors which includes SolarPlants, Waste Management, Helicopter felt, Oil and Gas, Mining,Energy, Healthcare,  Services & Education etc to evaluate the viability ofthe project on various parameters. Key Financial of Dabur: Objectives To find out intrinsic value of dabur and take decision regarding investment in Dabur. Plan of Work and Methodology Prepared a Sector Analysis Report for the FMCG sector †¢ Performed Historical Ratio Analysis of Dabur †¢ Prepared a Financial Model for Dabur by forecasting its financials for the next five years (FY13E-FY17E) on the basis of a historical trend analysis and expected performance of the FMCG industry drivers. †¢ Estimated a Target Price for the stock of Dabur using a DCF Valuation Model as well as using Relative Valuation by peer comparison. †¢ Submitted a final Equity Research Report on Dabur with recommendations. References and Bibliography www.investopedia.com www.rbi.org.in www.moneycontrol.com www.equitymaster.com www.bloomberg.com www.bseindia.com www.dabur.com www.wikipedia.org Nielsen FMCG industry report