A New Kind of Structure

1. Describe the structural problems HP had. When Mark Hurd assumed his new role as CEO of HP, he soon realized that many of the company’s structural problems were related to the fact that eleven layers of management separated him from HP’s customers. Top corporate customers of the company told him that they did not know whom to contact at HP to respond to their questions. HP’s head of corporate technology said that she had to wait three months to secure approval to hire 100 sales specialists.Moreover, HP’s salespeople were able to spend only about one-third of the time with customers; the remainder of their workday was spent in negotiating the bureaucracy inside of HP. 2. How did Mark Hurd decide to address his company’s structural problems? What do you think of his changes? How do you think the company’s customers responded to these changes? How about the company’s executives and sales force? In attempting to remedy the structural pro blems at his company, Mark Hurd first terminated the employment of underperformers and eliminated three layers of sales management.He also eliminated one sales group and merged those sales representatives into the remaining sales groups. Company executives and members of the sales force are likely pleased that the increased efficiency in the organization enables them to make decisions more quickly and to spend more time interacting with customers. Customers must be more satisfied to see that their needs and concerns are being met more effectively and efficiently. 3. Would a more mechanistic or a more organic structure be appropriate for HP? Why?Considering the rapidly changing nature of the products, and particularly the services, offered by HP, the appropriate structure for this company would have many characteristics of an organic structure. Changing times and intense competition within its industry require that HP be quickly responsive and proactive in its corporate strategy; an organic structure would be more conducive to this type of strategy. 4. What role do you think organizational structure plays in an organization’s efficiency and effectiveness?Explain. Organizational structure plays a key role in enabling a company to function smoothly, to remain responsive to its internal and external stakeholders, and to adapt to changes in the marketplace. Innovation is facilitated by fewer layers of management, and students have already learned that the survival and success of a company is usually dependent upon its ability to function as a learning organization that promotes innovation.

Business Management Personal Statement Sample

I have interest in studying business management. I appreciate the programme content and structure because of its flexibility that I can specialize in certain concentration areas such as Accountancy and Finance. Also, the policy of student-oriented teaching is a distinguishing characteristic which can provide students like me more opportunities to enhance their presentation and writing skills. Most importantly, I can gain a thorough grounding in the essential skills of business analysis and decision making.First, I am a competent and industrious student. Academically, I attained a satisfactory grade point average which was 4. 0 in my college. Simultaneously, I acquired my first professional qualification of securities through self-study. As a result, my college recognized my outstanding academic results by giving me Scholarship. Also, I was on the director list in 2008. Besides, I strongly concern our community.During the summer of 2008, I participated voluntary teaching and provided community service to a distant area called He Yuan in Guangdong province. I also joined a local charity to provide community service such as organizing a trip for the minority in Hong Kong. Such experience has strengthened my problem-solving and interpersonal skills to tackle the challenges. Also, I have greatly advanced in my analytical skills through joining mentorship programme. For example, I learnt basic research skills from my mentor from CASH Financial Group.As mentioned above, I am now an all-rounded student who wants to advance knowledge not just to deal with business problems, but also to tackle other economic problems in society at large. For personal development, I always try my best to continue lifelong learning and contribute to society as a global citizen. I heartily believe that chances are always ready for well-prepared candidates. (284 Words) Remarks: Modified Version by [email  protected] com Copyrights reserved 2009

Inequality Essay Example | Topics and Well Written Essays - 750 words - 4

Inequality - Essay Example parison because it takes into consideration the income factor which plays a significant role in dictating the wealth levels of the individual persons. Inequality is interconnected with social class, gender, and ethnicity. For instance, social classes define the person’s opportunities and financial position. This discriminates against people who are in lower classes. In addition, gender is used to deny some people opportunities, an aspect that increases the levels of inequality in the society. For instance, in some societies, people perceive women as weak, thereby not fit to hold high positions. This affects women’s ability to exploit their potential. Lastly, ethnic difference is another major aspect that has brought inequality in the society. Distribution of resources and opportunities are sometimes done based on this element. For instance, people of African origin and Asians find it hard to secure an employment position because of their ethnic background. This increases inequality levels in the society. Inequality is manifested through opportunities and outcomes. People who are poor in the society lack access to critical resources. For instance, they cannot be able to take their school to good schools and healthcare centers. Lack of education by these people’s children makes it hard for them to secure a descent work (Neckerman & Project Muse 2006). This constrains the families’ opportunities to earn a decent source of living. Affording good houses, food, and other basic needs becomes a challenge to these families. Social inequalities are not natural because they can be tackled by administration through equal distribution of resources to all people in the society and supporting the less fortunate. This form of inequality is caused by starting points. For instance, children who are born in family with wealth and assets are likely to gain access to tools of making wealth (Olyan 2011). However, those who are born in less fortunate families find it hard to

Retail marketing Essay Example | Topics and Well Written Essays - 2000 words

Retail marketing - Essay Example As Hahn puts it, it is the strength of the online shopping business like that of eBay that is inherent by the fact that it is online (Hahn, 2006). Use of the internet allows both the sellers and bidders to participate in online auctions from anywhere in the world. A seller let’s say in China can put up a doll in an online auction site that can be bid on by bidders that reside in the United States. In essence due to the absence of territorial barriers made possible through the use of the virtual space, items can be purchased by technically everybody anywhere in the world. Inherent in the worldwide interdependence of buyers and sellers is the comfort given to the buyers. The buyer simply sits in front of the computer, logs on to the online shopping site, uses an e-money, then waits for the delivery of the product. There is no longer a need for personal visit on stores which could require much effort especially for busy buyers. The Internet offers variety that is simply impossible in traditional stores (Postrel, 2004). Definitely, buyers do more than purchase items of their choice because they also work or study. More than the comfort offered by online shopping, time is saved for other purposes. Basically, the cost of participating into internet auctions through various retail agents is zero (Hahn, 2006). Online shopping also allows buyers to customize their products, as well as benefit from cheaper prices. As buyers are purchasing directly from the supplier, it eliminates the need for retailers and distributors who often add to the cost of the product . Postrel (2004) found that prices on the Internet were 6 percent to 16 percent lower than prices off-line. Aside from the fact that purchase through online auctions saves time, it also allows the buyer to offer a bid at the time convenient to him since there are time constraints (Miller and Layton, 2000). Bids

Consumer Psychology and Buying Behaviour Assignment

Consumer Psychology and Buying Behaviour - Assignment Example The market must be dominated by the element of value for products and services. Most potential consumers tend to buy products or services sold at low prices. Loyalty denotes the likeliness of some consumers to stick to the same products. This serves as the key effect and determinism in the market. Psychology entails how and in what ways aspects of the actual products and /or services in the market influences people to make their choices, by possibly buying a product that is different from the previous one. Sociology entails the manner in which one person‘s buying is influenced by that of others. In essence, there is the tendency of people willing to buy the same brands as others leading to a lock in one product that dominates the market without even considering the fact that the competitors have more or less identical ‘qualities’ that may include price. Marketing is the selling of products and services to potential clients in a given environment at a given time. It basically entails the potential clients that are available and how to handle them.  The market must be dominated by the element of value for products and services. Most potential consumers tend to buy products or services sold at low prices. The recent study on the consumers’ behavior on respond can help companies determine the best prices to set for their products. The notion that cheap products are of low quality is one of the factors in which companies can set prices for their products.  

Small group communication Essay Example | Topics and Well Written Essays - 750 words

Small group communication - Essay Example The movie involved a group of employees who apparently lost their pension to a scheme conceived by a businessman tenant, Alan Alda (Arthur Shaw), of the building where they are employed. The group is initially composed of Ben Stiller (Josh), Casey Affleck (Charlie) and Michael Pena (Enrique). They sought the help of a criminal, Eddie Murphy (Slide), a businessman who went bankrupt, Matthew Broderick (Mr. Fitzhugh), and a female employee Gabourey Sidibe (Odessa), to steal the money that they perceived was hidden in the apartment unit of Shaw. The effective group decision making that was exhibited in the movie are as follows: (1) the conceptualization stage where problem identification was initiated and where a proposed solution was conceived; (2) group formation stage where members of the group were carefully selected according to the roles and responsibilities that would be undertaken; (3) holding group meetings to clearly establish the plan of action, strategies, and designation of tasks; (4) cohesive participation and collaboration of members to successfully implement the designed plan; and (5) effective leadership style and accountability to actions that were undertaken (Rothwell). On the other hand, the ineffective decision making activities include: (1) lack of trust which contributed to one or two members to deviate from the plan; (2) lack of research to accurately validate assumptions (the members thought that the stolen money was hidden in a concealed vault); (3) inability to prepare for events which were unplanned but could potentially happen; and (4) tendencies for manifesting group think (Rothwell). The ineffective decision making processes noted above were clear indications of weaknesses in unified thinking, lack of trust in each members’ capabilities to do the tasks delegated and assigned, as well as an aspect of close-mindedness. According to

Fairtrade Essay Example | Topics and Well Written Essays - 2500 words

Fairtrade - Essay Example Introduction The tourism industry on the international level is booming. For instance, in the year 2012, total number of tourist figures reached a whooping figure of 1 billion and in the year 2013, the tourism industry anticipates to develop by three percent thereby contributing an aggregate of US$6.8 trillion or nine percent of the global GDP. Further, it is estimated that the tourism industry offers employment for more than 266 million around the world which connote that one in every eleven jobs on the planet is being offered by the tourism industry. While the significance of economic involvement cannot be refuted, many research studies have demonstrated that international tourism industry is not immune from inherent defects and could be the major contributor for the cultural, social and environmental issues. (Fairtrade Centre 2013). This research study will analyse how fair-trade certification helps the tourism industry of the respective nation helps to contribute the economy, soc iety and social welfare in a detailed manner. Fair Trade Tourism – An Analysis As per research study carried over by Tearfund (2002,p.7) , the shoppers are eager to pay more for products that are manufactured or produced in a friendly way , which connotes that they benefit the nation in which they are manufactured or produced. ... Thus, FT main aim is to work with oppressed workers and producers, thus assisting them to recover from a condition of susceptibility to prosperous and economic self-sufficiency. FT‘s aim is to encourage the abolition of poverty and to enhance the dignity of workers and producers. FT offers high-quality product wide range and variety of quality products. FT currently offers a wide range of about 5000 to 7000 quality products all around the globe. Fair-Trade tourism refers to the process of sharing the advantages and disadvantages of tourism in a fairer manner observing ethical, economic and environmental features. (Avara & Matkailu, 2004). The chief aim of FTT (Fair-Trade Tourism) is to capitalize the advantages from tourism for the local beneficiaries mainly through equitable and mutual partnerships between international and national tourism stakeholders. (Tourism Concern, 1999, p.2). According to Pluss (2013), FTT is mainly focussed on the magnitude to which the application of fair trade as regards to consumer awareness , trading partnerships and certification which can elucidate tourism development in overseas and at tourism destination. FTT concept has materialised as a mean to readdress the inequality and sustainability issues that linger in the tourism industry. (Boluk, 2011, p.29). FTT attempts to establish cultural, social and economic advantages for local citizen at the respective tourist destination. FTT is to stick to local laws, create vibrant consultation structures, should be translucent, should include social accounting, sustainability and ecological safeguards and should revere human rights. The other key elements of FTT are

The Russian-speaking communities in Portland and NorthWest Pacific Research Paper

The Russian-speaking communities in Portland and NorthWest Pacific - Research Paper Example The Russian Americans are currently reported to be about three million currently. Most Russian Americans no longer speak Russian. This is because they are born and raised by English-speaking Russian American parents. Statistics however suggest that by the year 2007, Russian was the principal language used by about eight hundred thousand Americans based on U.S. census results in that year (Spickard 2007). Further statistics by the Russian and Eurasian Studies at Harvard submit that by 1990 there were over seven hundred thousand ethnic Russian Americans in the U.S.A. The Ukrainians and Carpatho-Rusyns who trace their ancestry to Carpathian Ruthenia in the 19th century and early 20th century also identify themselves as Russian Americans. The recent emigres often refer to these people as the starozhili which when translated means â€Å"old residents†. These â€Å"old residents† were most instrumental in establishing the Russian Orthodoxy religion in America (Marrows 1997). These ethnic Russian Americans have in the recent decades been assimilated into the American society and culture but their ethnic traditions are still very much alive and are observable primarily around the Russian Orthodox Church. 3. ... The first wave begun around the 18th century during which time the Russians who were expanding their territory begun venturing into northwest America areas in search of furs. Fort Ross was established in 1812 by members of the Russian American company (Marrows 1997). This was where they established a hunting and trading company. This company was wholly owned by Russia’s elite society referred to as the tsar. This company had been in business for about a century before the fort was built. The conditions that necessitated the immigrations of the Russian Jews in the 1800’s were quite squalid and could be compared to Ireland’s â€Å"throes of famine†. There abodes were sparsely furnished and overly crowded with sickly elderly relatives and malnourished children who had to share meager rations of food. Some of the areas were so devastatingly poor that residents had to make do with bread and water. In areas such as Galicia for instance, many Jews starved to deat h annually. Basic human rights such as the freedom of worship and legal autonomy of citizens were revoked prompting the emigration by the Russian Jews. For most of the peasant Jewish immigrants, the journey to America was extremely trying and quite a life threatening adventure. The steamships they used to cross were rather small and large numbers of these poor Russian Jews were crammed into the limited space. The conditions in the ships were despicable and these travelers had to contend with little rations of food and disease (Spickard 2007). The normal procedure was that the husband went to America and got a job after which he would save up and send for his wife and children back

Behaviour Policy in Schools Essay Example | Topics and Well Written Essays - 2000 words

Behaviour Policy in Schools - Essay Example This paper illustrates that the dynamics of educational policy-making keep changing due to changes in the environment. Contrary to previous years where the national government made policies regarding education, nowadays there is more input from other actors both in government and private sphere. The state and local governments are involved as well as the entrepreneurs, consultants, professionals, teachers and school leaders. Furthermore, modern education has been marketized to suit economic interests thus bringing into the context other actors. According to Hulme, R., and Hulme, M., the spaces in which policy is thought and done have also changed. The use of technology has changed the context in that now education can not only be offered at schools but also at home and across national boundaries through e-learning. Policymakers, therefore, have to take into consideration such dynamics. Ainley also observes that education system has evolved from â€Å"national system locally administ ered to a local system nationally administered.† In the United States, there has been a push for more standardized reforms to enhance cohesiveness, fairness, and equity. It is a requirement for schools by the Education and Inspections Act of 2006 to have a behavior policy which includes school rules. This policy is part of the wider national education policies. The aim of this paper is thus to discuss the policy process in schools in relation to behavior policies. To accomplish this, the paper will discuss the standards, institutional contexts and the key actors in policy making.

Protecting Young Children's Welfare Essay Example | Topics and Well Written Essays - 1000 words

Protecting Young Children's Welfare - Essay Example Although there is no indication that she has any health problem (in other words, nothing is revealed about her health status). Sarah will have the problem enjoying her studies based on her inability to sustain her interest in a person (her mother or friends) for a longer period of time (Weis 221). And Sarah’s mother seems to be clueless about how to successfully handle the situation. Though this does not necessarily mean that the child is in dire need of protection outside her home, periodical visits of social workers could help her mother understand what her daughter needs (Rowe 25). Sarah’s mother is also have been affected by her sudden break from her husband, which may have weighed heavily on her psychological power to control her emotion and help her daughter overcome her own psychological stress. Theoretically, the absence of her father may be partly responsible for Sarah’s unfriendly disposition to people, friends or relatives she doesn’t like (Emer y 163). My first actions as a practitioner: As an early childhood practitioner, it would amount to mere speculations if I should make my decision without first of all undergo the assessment of Sarah’s behavior. Therefore, the first step is to closely and carefully monitor Sarah for revelations of any strange manners or symptoms that could show that she may have been suffering from psychological/mental, social and physical abuse by her depressed mother (Carr 202). With reference to National Society for the Prevention of Cruelty to Children NSPCC, a multi-professional approach is needed to offer believable consultation and assessment of any child in need. This modality will produce well-rounded assessment using professionals from the educational, social and health fields to monitor Sarah and document their findings to help map out the best strategy required to solve the girl’s problems (NSPCC 3-25).

Chain of Command Essay Example for Free

Chain of Command Essay The main focus of Article II of the United States Constitution is the executive branch and the role that it plays in the government. By definition an executive is â€Å"a person or group of persons having administrative or supervisory authority in an organization.† The President, who is elected, is the head of the executive branch and the US government’s chain of command. Second in command is the Vice President who must also be elected. Article II is broken down into four sections in the Constitution and outlines who the qualifications to run, the term that a President can hold office, as well as the duties, responsibilities and powers that he has and the grounds for impeachment. Section 1 Section one of Article II outlines the executive power in 7 clauses. Clause 1 and Clause 2 support each other. Clause 1 states that the President of the United States shall hold office for a term of four years with a Vice President who must be elected for the same term and that executive power shall be vested in the President. Clause 2 describes the appointment and qualifications for presidential electors. In Clause 2, it says that each state shall appoint a number of electors equal to the whole number of senators and representative to which the state may be entitled in the congress but no senator or representative that hold office under the United States can be appointed as an elector. This means that each state chooses electors equal to the number of representatives, representing them in congress, but no senators, representatives or federal officers can become an elector. It then goes on to describe the original method of electing the president and vice president. Originally, an elector would cast two votes for the president, one at least one vote had to be from a state different than the elector’s and who ever had the majority of votes became the president and the vice president would be the runner up. If there was no person who received the majority of votes the House of Representatives could have chosen one of the five with the greatest number of votes. If there was a tie, the House of Representatives could have chosen one of the candidates. When the House would vote, each state representative would cast one vote, and a quorum of two-thirds applied in both houses. One member from two thirds of the States, and a member from two thirds of the states and a majority of all the states were necessary to choose a President. If two or more candidates tied, the senate broke the tie. This was superseded by the twelfth amendment which made some significant changes. Now, electors cast one vote for president and one for vice president rather than two votes for president. If there is a case where no presidential candidate receives the majority, the house chooses from the top three instead of the top five. In addition, the amendment requires the senate to choose the vice president from the candidates with the two highest figures if no vice president candidate receives the majority of electoral votes. The twelfth amendment also specifies that to be vice president, a candidate must also qualify to be President. Clause 3 states that congress may determine the time of choosing the electors and the day for casting their votes. Clause 4 states the qualifications for the office of the president. According to the clause, the president and vice president must be at least 35 years old, both must be a natural born citizen of the United States, and both must have been a U.S. resident for 14 years. The twelfth amendment required the vice president to meet all the qualifications of an eligible president and the twenty-second amendment prevents a president from being elected more than twice. The 5th clause states that in the case of removal of the president from office, or his death, resignation, or inability to discharge the powers and duties of office, the vice president shall assume his duties. In the case that both the president and vice president were removed, resigned, deceased, on unable, then congress, by law would declare which officer would act as president until the removal, death, resignation, inability were to occur or a president was elected. This caused much controversy when President William Harrison died in office. A debate occurred on whether vice president John Tyler would become president, or just be the acting president. Tyler felt like he had a right to become president, and eventually took the Oath of Office, while set the precedent for vice presidents, Millard Fillmore, Andrew Johnson, Chester Arthur, Theodore Roosevelt, Calvin Coolidge, Harry Truman and Lyndon Johnson to ascend to the presidency. Because of this, the Presidential Succession Act was adopted in 1947 which established the line of succession of the office of the presidency in the event that the President or Vice President becomes unable to fill the vacancy. The Presidential Succession Act makes clear that only someone serving as Vice President can ever succeed to the title â€Å"President of the United States† and anyone who takes office under its provisions can only act as President† even if they have to act for 4 years. Clause 6 of Article II states that the President shall be compensated, at stated times for his services. This compensation shall never be increased or diminished during the period he is elected and also during that period, he also shall not receive any other compensation from the United States meaning federal and local government. The Presidents salary is currently $400,000 a year. Clause 7 states that before he enters office, the president shall take the following oath or affirmation: â€Å"I do solemnly swear (or affirm) that I will faithfully execute the office of President of the United States, and will to the best of my ability, preserve, protect and defend the Constitution of the United States.† Section 2 Section 2 of Article II outlines the President’s powers while in office. Clause 1 of Section 2 states that the President shall be commander in chief of the army and the navy of the United States. Although he is the commander in chief, Article One gives Congress the right to declare war, not the President. The President may require the principal officer in each of the executive departments to give their advice in writing. Additionally, the President may grant pardons or reprieves for offenses against the United States, except in cases of impeachment. Clause 2 of Section 2 is also known as the advice and consent clause. The President exercises the powers in the clause with the advice and consent of the senate. The President can enter the U.S. into treaties but they aren’t effective until they are ratified by a two thirds vote in the senate. The President may also appoint judges, ambassadors, consuls, ministers and other officers with the advice and consent of the Senate. However, by law Congress may allow the President, heads of executive departments, or the courts to appoint inferior officials as they see fit. Clause 3 of Section 2 gives the President the power to fill vacancies that may occur during the recess of the senate by granting commission that expire at the end of their next session. Section 3 Section 3 of Article II outlines the Presidents responsibilities while in office. While in office, the President must â€Å"from time to time† give congress information on the State of the Union and recommend to congress’s consideration measures that he judges as â€Å"necessary and expedient.† The President may, in â€Å"extraordinary occasions† call one or both houses into session. If both houses disagree on the time of adjournment, he may adjourn them at a time he thinks is fitting. The President receives all ambassadors and other public ministers. Most importantly, â€Å"he shall take care that the laws be faithfully executed, and shall commission all the officers of the United States.† The President commissions all officers including military and foreign service and although the President has discretion in how and when to enforce laws, he cannot refuse to enforce constitutional law. Section 4 Section 4 of Article II allows impeachment. Section 4 states â€Å"The President, Vice President, and all civil officers of the United States, shall be removed from the office on impeachment for, and conviction of, treason, bribery or other high crimes and misdemeanors. â€Å" The President, Vice President, executive officers as well as judges can all be impeached by the House of Representatives and tried in the Senate. If an official is convicted by impeachment, he is immediately removed from office and remains liable to trial and punishment in court for civil or criminal charges. The trial, if any is separate from the impeachment itself. There have been two U.S. presidents that have been impeached by the House of Representatives, Andrew Johnson and Bill Clinton but they were acquitted at trials that the senate held. The House Judiciary Committee voted on Articles of Impeachment for President Nixon, but he resigned before the full House of Representatives could vote, therefore he was never impeached. Why is Article II important? Article II is important because it establishes the office of the President and the Vice-President, and sets their terms to be four years. It defines the job that the President has to do and the rules that he has to follow. In a sense, it’s his job description and prevents him from overstepping his boundaries. Not only does Article II make the President Commander in Chief, it allows cabinet to aid him, and make treaties with other nations as he sees fit to protect us. It commands him to keep the Union informed about the status of country through the State of the Union address and to most importantly to enforce all laws.

Next PESTLE Analysis | Next Plc

Next PESTLE Analysis | Next Plc Tags:  PESTLE Analysis, PESTEL Analysis, PEST Analysis Introduction A PESTLE analysis provides and analysis of six of the key macro level factors which affect a business and the decision which it makes (Grant, 2008). This assignment will apply the relevant factors within the PESTLE framework to the international clothing retailer Next and its subsidiaries. Data upon which the assignment is based comes from a variety of sources including the companys annual report (Next, 2012) and released and well as information from the academic and business press. In order to give the assignment a greater level of focus, the report will be limited to an analysis of the external environment in the UK. Political There are a wide range of political factors which affect Next at present but also factors which may have an impact upon the company in the future. One key political decision which affects Next in the UK is the rate of tax levied by the government. This has the ability to affect both the bottom line of the company in the form of corporation tax but also the ability of customers to spend with next, linked to income tax. At present, levels of corporation tax in the UK have been lowered in order to attempt to stimulate economic activity (Telegraph, 2012). However, given the continuing deficit, there is no guarantee that governments in the future will maintain the rate of corporation tax at its current level. Other key political decisions consider interest rates. At present, UK interest rates stand at an all-time low of 0.5% (BoE, 2010). This may be seen as a positive factor for firms such as Next who are effectively able to borrow large amounts of money for the purposes of capital expansion at much lower rates than have been previously seen. Such borrowing may take place in the form of long term borrowings from banks and financial institutions, alternatively the company may choose to issue corporate bonds (Arnold, 2008). Other political issues relate to the governments relatively arms length approach to Europe and remaining outside of the single currency area (FT, 2012). For a UK based business such as Next that has international operations in the Euro Zone, this could be seen as negative with the prospect of foreign exchange rate risks being felt and the introduction of additional transaction costs which would be eliminated if the government decided to join the Euro Zone. From a more general perspective, the UK political system based upon parliamentary democracy may be seen as providing Next with a relatively low risk political environment in which to operate within (CIA, 2013). This may be seen as an advantage in comparison some of Nexts ventures into potentially less stable political nations such as Russia and those of the Middle East. As such, this makes the UK a relatively safe market for Next to make further long term capital investments in where the company may think twice in the case of less stable political environments. Economic A critical factor which may have an impact upon Next in the UK is the current state of the economic environment. As a business which makes use of a premium based differentiated strategy, as opposed to being a cost leader, it may be seen that swings within the economic environment have the ability to impact the fortunes of the company to a greater degree than those operating in the necessity and budget sector of the market (Johnson et al, 2008). From a purely statistical perspective, the years since 2007 have been an economic rollercoaster for the UK. Following the onset of the global financial crisis in 2007, the subsequent year saw GDP growth revert to negative figures with -1% contraction in the economy. This was followed by even worse performance in 2009 with a -4% contraction. Low levels of growth have been seen since in 2010 and 2011 with GDP growth of 1.8% and 0.8% respectively (World Bank, 2013). However, while the statistics show a slight recovery in 2010 and 2011, others within the business press (BBC News, 2012) indicate that the UK economy could continue to flat line or worse result in a double dip recession. These headline figures may seem to paint quite a negative picture for retailers such as Next which are highly reliant on the UK economy as a source of revenue. However, an analysis of more detailed economic data may highlight a different perspective. Tutt (2012) presents data which looks at the level of unemployment and household disposable incomes in the UK. In this case an alarming pattern is seen. On the one hand, levels of unemployment have been increasing in recent years with a rise from 0.86m in 2007 to 1.53m in 2011. However, conversely, the levels of disposable income of individual households during the period has consistently risen from  £14,308 per household in 2007 to  £16,042 per household in 2011 (Tutt, 2012). For Next and other premium end retailers this may have a key impact upon strategy. While there may be few customers able to by the products and services of Next due to rising unemployment, those who have remained in employment have generally become wealthier. As a result it is likely that such economic patterns may help Next to improve its average spend per customer, even if the total number of customers falls. Social-Cultural There are many social and cultural changes taking place in the UK at present which may have a high level of impact upon the performance of fashion retailers such as Next. In many cases, as representatives of an essentially socio-cultural industry, the fashion industry itself may be seen as an industry which is affected by such trends to a greater degree than other industries (Curtis et al, 2007). One of the key issues in the UK market, but also seen across Nexts wider European markets is the general aging of the population (Parliament UK, 2012). This may be seen as both problematic but also an opportunity for Next. One the one hand, an ageing population may see Next having to adapt its product portfolio in an attempt to ensure that the products supplied by company appeal to this aging demographic of the population. In addition, the prospect of an aging population may also see that competition for the increasingly smaller younger demographics of the market becomes more intense for Next as time progresses. Despite these drawbacks, there are also advantages linked to the issue. On consideration is that ageing populations tend to be less mobile than younger demographics, this may be a key advantage for Next given that its home delivery and online business model offer a convenient solution to the problem. Other socio-cultural factors include the consideration that the UK has since World War Two become an increasingly culturally diverse nation with an influx of diverse cultures, races and ethnicities all contributing towards the socio-cultural backdrop of the UK social system (Shepherd, 2010). For Next, this has not only external implications such as those linked to aligning product ranges to specific cultural segments, in attrition, the company musty also ensure that it deals with issues such as managing diversity in the context of its own organisation. In this case, increased cultural diversity can be seen as both a source of a competitive advantage yet also a potential source of conflict (Liff, 1997, Ivancevich et al, 2010). As EU expansion takes place and the new member states become further integrated into the EU, there is a distinct possibility that the trends for increased diversity in the UKs labour and consumer markets will increase rather than decrease. Technological There is little doubt that new technological developments have transformed the UK business environment, especially those operating in the retail sector. Key developments may be seen as those technologies which are internet or communications based in nature, such as the wide spread diffusion of broad band (Jobber, 2007). Key technological developments such as the internet have allowed firms such as Next to develop online business models which complement traditional bricks and mortar retail establishments. Empirical evidence from the ONS (2009) on the subject shows that the growth has been almost exponential with a rapid acceptance on the behalf of customers of online shopping in both retail and other markets. Yet communications technologies have not only been used by the sector to facilitate online sales and shift away from the traditional high street place. Other aspects of new technological development have seen a range of new marketing options opened up to retailers such as Next. Most important amongst these are developments which have allowed retailers to interact with customers using online social networking sites such as Facebook, YouTube and Twitter. These are now seen as key ingredients in the development of a successful marketing strategy (Zarrella, 2010), largely the product of technological changes in the sector. Other technologies have simply allowed businesses to develop better relationships with their consumers and communicate in a more effective way. Take for instance the technological developments of smartphones and apps. Such technology has allowed companies to develop apps which allow consumers to find their nearest branch or check the facilities and product availability at a branch before making a visit. This allows an effective bridge to be built between the purely online business model such as those operated by a company like Amazon and those falling into the bricks and clicks category (McGoldrick, 2002) such as Next who must seek to leverage the benefits of both arms of the business. While technology in this section has largely been presented as an opportunity, there is of course a risk factor. Many have expressed concerns over the abandoning of the high street as consumers flock to online business models. The case is illustrated only too recently with the example of Jessops going into administration, a business which may be seen as falling victim to technological developments (Goodley, 2013). Legal Like all businesses, Next must conform to the legal minimum standards which are enforceable in a jurisdiction. The case of Nexts UK operations legal elements may be seen as more complex given that the company must comply with both UK law and EU law. Some of the key legal regulations which affect Next in the UK are considered below: Minimum wage legislation A key piece of legislation in the UK which affects organisations such as Next with a large number of low paid workers is that of various minimum wage regulations. In this case, the legislation requires UK employers to pay their employees a minimum of  £6.19 per hour for those aged over 21 (Gov UK). Given the large number of employees of firms such as Next which are affected by the National Minimum Wage, temporary shifts in legislative policy can have a high impact upon the sector. Other key legislative issues include equal opportunities legislation and various other acts of parliament designed to ensure equality both in the work place and in the recruitment and selection process (Pilbeam and Corbridge, 2010). In this case, such legislation has a direct impact upon the processes and practises of an organisation such as Next who are required not only to design corporate polices which facilitate equality but also to record activities related to recruitment and selection should an employee call foul at a later date. The issue here for businesses such as Next is that the legislative environment often places the burden of proof on the defendant rather than the claimant in such cases. As such, the development of detailed HR processes and practises is critical (Bratton and Gold, 2007). Further issues relate to potential moves on the behalf of legislators to become tougher in relation to issues of tax avoidance. While Next has to date not been implicated in any of the tax avoidance scandals, there is a consideration that the actions of other retailers such as Starbucks and Amazon (Syal, 2012) may have provoked the onset of a tougher legislative environment in the future which may have an impact upon innocent parties such as Next. Environmental The physical environment is also a key issue for firms operating in any given national market and consideration should be considered two how firms treat the physical environment and the impact this has on the business, but also the impact the physical environment generally has upon a business. In general terms, the physical environment which Next operates within in the UK may be seen as relatively benign in comparison to other parts of the world which suffer from high intensity natural disasters such as earthquakes, hurricanes and forest fires. Despite such an environment there have been a number of environmental issues recently in the UK which have affected the retail sector. These have included increasing more frequent floods (Retail Bulletin, 2013) and poor sales due to snow storms and the failure of local authorities to prepare for periods of inclement weather (Hall, 2011). Other aspects of the environmental analysis require firms to consider their own impact upon the environment. In general terms, the literature (Parsons and MacLaran, 2009) considers that consumers are becoming increasing aware of the impact of businesses upon their environment. As such, if businesses are to maintain customer loyalty and avoid negative backlashes, then they must seek to minimise their impact upon the environment. In the retail sector, this may include reducing waste, running more efficient transport operations and implementing ethical sourcing policies. While failure to comply with such consumer demands may result in a negative consumer backlash, with the adoption of the right approach, high environmental credentials can be used to add value to a product or service. Such an example is seen in the Marks and Spencer (2013) and Body Shop business models in the retail sector. Conclusion Having reviewed the key factors within the macro level environment as presented in the PESTLE framework, it is possible to come to a number of conclusions in relating the model to Next and its UK operations. On the one hand, it would appear that the external environment is a significantly challenging one for Next with the prospect of further poor economic performance and a requirement to comply with what may be seen as a relatively tough legislative environment. However, the PESTLE factors would also seem to indicate that there are some large opportunities for Next in the UK. Such opportunities include the ability to borrow at low interest rates to fund capital expansion and increased opportunities to link technological developments to changes in the social fabric of society in order to drive more sales through web based platforms. Other factors such as changing technologies and increases in diversity may be seen as neither positive or negative intrinsically but still require some ch ange on the behalf of Next. Having reached these conclusions, the final opinion of the writer is that the external environment is essentially neutral for Next at the moment and that the success of the business will be largely dependent upon whether managers of the business capitalise upon the stated opportunities or allow the challenges to see Next becoming another casualty of the death of the high street. Bibliography Arnold, G. (2008). Corporate financial management. 4th ed. Harlow: FT Prentice Hall. BBC News. (2012). UK economy in double dip recession. 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Automobile Sector Analysis: Five Forces and SWOT Automobile Sector Analysis: Five Forces and SWOT 1. Overview of the automobile sector Five forces analysis Competitive Rivalry between Existing Players: High Competition between existing automobile companies is high. Although the automobile market was dominated by the three big auto manufacturers in US, Toyota and Honda in Japan, the situation is changed. With the growing demand in emerging market, the emerging competitors in China and India may drive an intensified price competition. However, the competition could also focus on the safety, warranty and financial services etc. Threat of New Entrants: Medium Although the entrant barrier is high for the automobile industry because the requirement of capital and technology, an increasing number of automobile manufacturers are emerging in China and Asia due to the economic expansion and growing demand. However, these automakers are in the development status and may not catch up the leading technology in Japan and US, so the threat from new entrants is medium. Threats of Substitutes: Low Customers could choose to switch to transportation means other than automobile such as bicycles, buses and subways. However, the automobile is still the favourite despite the relevant high cost than other mentioned transportation means because its flexibility, comfort and convenience. Bargaining Power of Suppliers: Low In automobile industry, the component supplier has little bargaining power because the manufacturer could switch to other suppliers easily. On the other hand, the components are generally low value and the suppliers find it difficult to bargain with automakers. Bargaining Power of Customers: High The competition in the automobile industry is intense as mentioned above. So the customers have many choices on the brands and models. Customers care about the quality, price, safety, comfort, appearance of the car. Recently, customers are also more and more concerned about the environmental effect of the automobile and the energy efficiency. So the customers get more and more bargaining power in automobile industry. 2. Toyota Motor Company 2.1 Overview of the company Company profile Toyota Motor Corp. is one of the largest and leading automobiles manufacturers in the globe. It operates in three main business segments; the two biggest are automobile and financial services whereas the third one is comprised by many smaller other divisions. It is spread worldwide as it has 50 manufacturing facilities in 27 countries and regions Toyota designs, manufactures and sales passenger cars of several types and utilities, trucks, tractors and material handling equipment, minivans and other car accessories. Its products can be divided into 2 main categories, conventional and hybrid vehicles. The company sells its products under Toyota, Lexus, Hino and Daihatsu brands The company is also engaged in the financial industry as it provides financing to its customers and dealers. It is also involved in housing, marine, e-commercial, ITS and biotechnological activities. Toyota sells its vehicles in more than 170 countries and regions worldwide. Toyotas primary markets are Japan, North America, Europe and Asia. It is headquartered in Toyota City, Japan and employed around 316,121 people as on March 31, 2008 Strategy Analysis Toyotas strategy can be summarised under three key principles; growth, efficiency and stability. These are the three priorities the companys management will pursue to achieve future sustainable growth and increase the economic value. Growth will be achieved through continuous investment mainly in hybrid vehicle segment to meat the increasing demand. Efficiency is mainly focused on cost management and further reduction in order for the company to be able to provide high quality products in affordable prices and maintain its competitive advantages. Stability will be ensured by maintaining a solid financial base. Within the economic downturn it is important for Toyota to maintain sufficient liquidity in order to continue to finance its investments in research and development of new technologies, which is an integral and essential part of the companys advantages. Peer Group As Toyota operates in the global market its competitors come from all around the world. Its major competitors are BMW AG, DaimlerChrysler AG, Fiat S.p.A., Ford Motor Company, General Motors Corporation, Honda Motor Co. Ltd., PSA Peugeot, Renault S.A., Volkswagen AG and many others SWOT Analysis Strengths Weaknesses Strong overall financial performance Strong reputation and quality Strong position is Asian market Research and development Production pipeline system and cost management Diversified product portfolio Financial services are still undeveloped Huge expenses on pensions and post-retirement benefits Opportunities Threats Increasing demand for hybrid and environmental-friendly cars Expansion in emerging Asian markets Financial and other non-auto division development New car models Global economic crisis Strong competition in automotive industry Yen and US dollar exchange rates Tight environmental regulations on carbon emissions Problems with specific components of sold cars. (Recent brake problem) 2.1. Key Financials Analysis 31/3/2009 31/3/2008 31/3/2007 31/3/2006 31/3/2005 Sales 207,852.40 264,120.58 202,821.01 178,294.05 173,443.60 Operating Income -4,667.52 22,809.82 18,959.84 15,919.51 15,192.39 Net Income Available to Common -4,423.79 17,259.05 13,923.62 11,629.63 10,950.45 Total Assets 292,725.95 324,979.61 275,051.76 242,604.35 227,515.08 Total Liabilities 185,398.39 199,132.47 169,488.89 148,104.55 138,230.49 Common Equity 101,865.07 119,249.79 100,242.15 89,502.94 84,563.86 Net Cash Flow Operating Activities 14,724.7 26,357.6 27,783.5 22,136.2 22,144.6 * IMPORTANT First year to report losses * Stable increase in sales Decline in 2009 greatly affects income * Severe decrease in cash flow from operating activities, nearly 50% * Very big difference between sales and operating income points out severe cost expenses for the company. As this differences is constantly increasing it is not far from the truth to say that Toyota is gradually loosing its competitive advantages in cost efficiency against its competitors. * General trend in key financial s shows a steady and permanent increase until 2008 and a sharp decline in 2009, due to severe problems of economic recession and its great impact on automobiles industry. This trend applies for almost all financial s, pointing out that the companys performance as a whole followed a movement like this. 2.3. Multiples analysis 31/3/2009 31/3/2008 31/3/2007 31/3/2006 31/3/2005 Price To Earnings -22.43 9.19 14.74 15.25 11.23 Price To Book 0.97 1.32 2.04 1.97 1.44 Price To Cash Flow 7.41 4.83 7.83 7.80 5.87 Price To Sales 0.5 0.7 0.8 1.0 0.7 * Multiples follow companys general trend, namely increase until 2007 and then decreasing sharply * Consistent with overall picture of company, multiple analysis show the economic downturn of the entity from 2007 onwards * Point to mention: negative P/E ratio. Markets expectation about company looks really slim. The economic crisis, alongside with its severe problems generating income and its recently damaged reputation, create really unfortunate future prospects for Toyota. The negative P/E ratio and specifically its magnitude (-22) implies that nobody is neither willing to pay to buy the companys share nor expecting any profit generation. * Very sharp decline as well; 31.62 units is something extremely noticeable. If we focus on decline itself, it shows an extremely quick unfavorable turn of the market towards the company. 2.4. Companys performance 31/3/2009 31/3/2008 31/3/2007 31/3/2006 31/3/2005 Profitability Return on Equity -3.98 14.49 14.68 14.00 13.60 Operating Profit Margin -2.25 8.64 9.35 8.93 8.76 Asset Utilization Total Assets Turnover 0.71 0.81 0.74 0.73 0.76 Net Sales % Working Capital 28.93 180.70 1412.62 29.78 15.30 Gearing EBITDA / Interest Expense 20.94 86.19 77.33 153.70 146.20 Long Term Debt/ Common Equit 62.63 50.40 52.92 53.41 55.44 Valuation Investment Earnings Per Share -1.41 5.43 4.34 3.57 3.32 Dividend Yield Close 3.21 2.82 1.59 1.40 1.63 Liquidity Quick Ratio 0.81 0.77 0.76 0.81 0.87 Current Ratio 1.07 1.01 1.00 1.07 1.15 * Negative profitability in 2009 * Fluctuating sales/working capital as a result of fluctuation if investments (working capital) * Gearing increase in 2009 at the same time with high decrease of interest cover * Stable and quite low liquidity 2.5. Cash Flow analysis 31/3/2009 31/3/2008 31/3/2007 31/3/2006 31/3/2005 Cash Flow Operating Activities 14,724.7 26,357.6 27,783.5 22,136.2 22,144.6 Cash Flow Investing Activities (12,265.3) (34,254.0) (32,727.4) (29,704.4) (28,591.6) Cash Flow Financing Activities 6,967.4 6,242.7 7,565.6 7,716.8 3,917.0 Effect of exchange rates -1,294.04 -749.27 218.18 604.94 232.09 Net Cash Flow 8,132.86 -2,402.99 2,839.91 753.58 -2,297.85 * Severe decrease in cash flow from operating activities, nearly 50% which vividly affects its operating income * Extreme decrease in investing activities around 70%, probably caused by cash shortage and policy change. The company issued a new project with main goal to improve profits and cover operating expenses and as a result we see a large negative impact in new investments. * Financing activities exhibit a stationary trend over the past few years indicating the stable financial policy of the entity. * Adverse effects of exchange rates during the last two years indicating the risk the company runs because of the Yens depreciation to the U.S dollar and the Euro. 2.6. Stock Performance The companys share performance seems to move according to the index, with the trend to over perform it constantly. We can see the decline of the shares price, which started right before the end of 2008, following the global economic recession. At the turning point, which is in the beginning of 2009, we observe a relatively high trading volume, probably indicating the forthcoming upward movement. It is also really significant to point out the extreme high trading volume observed during the first months of 2010, followed by a new decline of the shares price. This reflects the problems that Toyota is facing nowadays. There is a considerable lack of trust from the market towards the company which is mainly caused by its severely damaged reputation and loss of quality. 3. Ford Motor Company 3.1 Overview of the company A . Company profile The group operates in two segments: Automotive and Financial Services. For the automotive segment which consists of Ford, Lincoln, Mercury and Volvo has a main operating activity in manufacturing, sale and service of component for cars and trucks. The Financial services segment is included of financing, insurance and leasing regarding to cars, trucks, industrial equipment, construction equipment and other activities. The company has operation in North America, South America, Europe, Africa and Asia- Pacific. B. Strategy Analysis  · One Ford The Company has initiated the new strategy called â€Å"One Ford† which has detail as follow: o ONE TEAM focuses the significant of team work in order to reach the automotive leadership. The measurement is satisfactory of business partners, employees, investors, and related companies. o ONE PLAN: The four-step plan has been established which composed of: balance between cost structure and revenue; develop new product follow customer preference; develop balance sheet status and finance the plan; and cooperation around the world to leverage companys resources. o ONE GOAL: That is â€Å"to create an exciting and viable company with profitable growth for all†. Ford has started the restructuring business process before the economic crisis which the Company has reduced the excess capacity, closed some unprofitable plants and lower excess workforce. In addition, Ford has improved the product line in term of higher quality, more safety, use less energy and more economic. * Affordable Fuel Economy: Focusing on deliver fuel efficiency engine to the market. For example, the 2010 Ford Fusion is now Americas most fuel efficient midsize sedan for both the hybrid and conventional gasoline models. * Electrification strategy: plan to bring pure batteryelectric vehicles, next-generation hybrids and a plug-in hybrid to market quickly and more affordably over the next four years. * Safety leadership: Ford got totaling 16 models picked from the Insurance Institute for Highway Safety which more than other brands. * EcoBoostâ„ ¢ Engine: delivers significant gains in fuel economy along with a great performance drive feel. C. Peer Group Fords peer group is Daimler AG, Fiat Spa ¸ Honda Motor Company Limited, Motors Liquidation Company, Nissan Motor Company Limited, Toyota Motor Corp and Volkswagen AG. D. Fords SWOT Analysis Strengths Weaknesses l Wide geographic Operate throughout the world and has a strong market in North America, Europe and Asia. Sales of each region of 2008 are 49%, 39% and 12% respectively. The well diversified market of ford reduces the risk of economic problem in specific area. l Brand royalty Ford has renowned reputation about quality and also owns other renowned brands such as Lincoln, Mercury and Volvo. l Quality car Ford owns totaling 16 models of car that rated as safety car by the Insurance Institute for Highway Safety l Product Recall Experienced many recalled products due to the quality of defective cruise control switch which may cause fire. Even though there is no fire cases reported but the Companys reputation is negative affected. l Negative operating result l Low gross margin GSKs long-term debt increased by 115.5% in 2008, which may lead to problems such as heavy interest payment, risk of having too little working capital and even increasing possibilities of bankruptcy. l Too much long-term debt This may lead to problems such as heavy interest payment, risk of having too little working capital and even increasing possibilities of bankruptcy. Opportunities Threats l Expanding market in emerging market Ford has a plan to expand its sale in the emerging market which has great buying power in the future. l Eco-friendly engine Ford has high reputation in the eco-friendly engine such as hybrid engine which has very promising market. l Fuel efficiency Ford found another opportunity in the market for fuel-efficient in small and middle car. l High competition Due to new competitor, lower demand and excess capacity. l Economic crisis Economic crisis and regression in USA where is the main market of Ford caused severe effect to the Company. 3.2. Key Financial Analysis Source: ThomsonFinancial Scaling Factor : 1,000,000 USD Currency: USD 12/31/08 12/31/07 12/31/06 12/31/05 12/31/04 Net Sales or Revenues 146,277.00 172,455.00 160,123.00 177,089.00 171,652.00 Operating Income 3,518.00 8,031.00 -8,167.00 7,010.00 10,681.00 Earnings Before Interest And Taxes (EBIT) -4,885.00 6,792.00 -6,689.00 9,354.00 11,669.00 Interest Expense On Debt 9,682.00 10,927.00 8,783.00 7,643.00 7,071.00 Net Income Available to Common -14,681.00 -2,764.00 -12,615.00 2,441.00 3,634.00 Total Assets 215,773.00 276,459.00 275,337.00 264,891.00 294,447.00 ST Debt Current Portion of LT Debt 63,972.00 61,052.00 62,456.00 59,904.00 66,433.00 Long Term Debt 90,716.00 107,478.00 109,593.00 94,428.00 106,540.00 Total Liabilities 231,889.00 269,410.00 277,643.00 250,812.00 277,525.00 Common Equity -17,311.00 5,628.00 -3,465.00 12,957.00 16,045.00  · Net sales decreased from 2007 about 15% as the economic crisis in the State which is the main market of Ford. The Company has had substantial losses from operation since 2006.  · Ford has high outstanding of long-term loan which may causes liquidity deficiency or bankruptcy if the Company still has continuously loss in the future.  · As a result of net losses from operation since 2006, Ford has had negative shareholders equity since then. 3.3. Multiples Analysis MONTHLY HISTORICAL MARKET PRICES Y2008 Y2007 Y2006 Y2005 Y2004 January 6.64 8.13 8.58 13.17 14.54 February 6.53 7.91 7.97 12.65 13.75 March 5.72 7.89 7.96 11.33 13.57 April 8.26 8.04 6.95 9.11 15.36 May 6.80 8.34 7.16 9.98 14.85 June 4.81 9.42 6.93 10.24 15.65 July 4.80 8.51 6.67 10.74 14.72 August 4.46 7.81 8.37 9.97 14.11 September 5.20 8.49 8.09 9.86 14.05 October 2.19 8.87 8.28 8.32 13.03 November 2.69 7.51 8.13 8.13 14.18 December 2.29 6.73 7.51 7.72 14.64 . 5 Year 5 Year VALUATION Y2008 Y2007 Y2006 Y2005 Y2004 Y2003 Growth Rate Average P/E Ratio (High) -1.36 -6.93 -1.41 12.94 9.63 34.66 -1.04 2.57 P/E Ratio (Low) -0.16 -4.75 -0.90 6.64 7.01 13.16 -1.01 P/E Ratio (Close) -0.35 -4.81 -1.12 6.77 8.13 32.00 -1.01 1.73 Price/Sales 0.04 0.08 0.09 0.09 0.18 0.18 -0.80 0.10 Price/Book Value -0.32 2.62 -4.14 1.14 1.74 2.62 -3.94 0.21 Price/Cash Flow 0.44 1.24 1.76 0.70 1.11 1.35 -0.67 1.05 Price/Working Capital 0.00 0.00 0.00 0.00 0.00 0.00 -0.16 7.78 TARenderChart.png * P/E ratio turned to be negative since net losses from operation since 2006 and also the market price has continuously decreased from 8.58 in the beginning of 2006 to 2.29 at the end of 2008. * P/B ratio had negative value in 2008 from the negative book value of Ford. 3.4. Companys performance Worldscope Currency: USD PROFITABILITY RATIOS 12/31/08 12/31/07 12/31/06 12/31/05 12/31/04 Return On Invested Capital 0.25 1.92 1.95 2.95 3.32 Operating Profit Margin 2.43 2.94 3.12 5.02 6.54 ASSETS UTILIZATION RATIOS Asset Turnover 0.63 0.60 0.59 0.59 0.58 Net Sales Pct Working Capital 10.62 6.21 5.68 11.06 41.64 LEVERAGE RATIOS EBITDA / Interest Expense -0.50 0.62 -0.76 1.22 1.65 LT Debt Pct Common Equity -76.88 233.49 316.38 1,268.12 1,229.66 LIQUIDITY RATIOS Quick Ratio 1.05 1.08 1.12 1.08 1.03 Current Ratio 1.21 1.25 1.30 1.25 1.19  · Profitability ratios do not show the good performance as Ford has had net loss from operation since 2006.  · Leverage ratios also go in the same trends as a result of negative equity and high outstanding balance of long-term loan.  · Liquidity ratios present that Ford still can generate cash to supply its working capital but if consider to the long-term debts Ford may cannot provide enough cash to support its debt payment since these ratios are still in the low range compared with its debt outstanding amount. 3.5. Cash flow analysis Source: ThomsonFinancial Scaling Factor : 1,000,000 USD Currency: USD 12/31/08 12/31/07 12/31/06 12/31/05 12/31/04 Net Cash Flow From Operating Activities -179.00 17,074.00 9,609.00 21,674.00 22,591.00 Net Cash Flow From Investing Activities 3,143.00 6,457.00 24,862.00 -7,462.00 8,567.00 Long Term Borrowings 42,163.00 33,113.00 58,258.00 24,559.00 22,223.00 Inc(Dec) In ST Borrowings -5,120.00 919.00 -5,825.00 -8,591.00 4,937.00 Reduction In Long Term Debt 46,299.00 39,431.00 36,601.00 36,080.00 36,021.00 Net Cash Flow From Financing Activities -9,104.00 -5,242.00 15,273.00 -20,651.00 -14,226.00  · The Company cannot generated sufficient cash from operation and had negative net cash flow from operation. Moreover the Company had to pay interest expenses for loans and had high net cash paid for financing activity. 3.6. Stock market performance  · Ford shares have been traded lower than SP500 since 2001 until 2010. Especially since 2006 that the operating results had continuous substantial losses. 4. Honda Motor Company Limited 4.1. Introduction Honda Motor is one of leading automobile manufacturers in the world. The company develops, manufactures and markets automobiles, motorcycles and power products. The company also provides financing services to the dealer and customer for the sale of products. Honda has global operations in areas including North, South and Central America, Asia, Middle East, and Europe with its headquarter at Tokyo in Japan. Strategy analysis Honda Motor has three strategies. They are â€Å"Staying Close to Customers†, â€Å"glocalization† and â€Å"five region strategy†. Staying close to customers mean the maintenance of the qualities of a small company, Provide value product with flexibility and efficiency as a small company does and maintain global reach and technology advantage as a large company does is the drive to the future growth of Honda. Glocalization means the effort to launch subsidiaries in regions that could best meet the demand of local customers and expand the subsidiaries as the local demand increases. Five region strategy requires the operations focus on five areas the world. They are North America, South America, Europe/Middle East/Africa, Asia/Oceania and Japan. The management decisions are served to suit the situation in different areas. The advanced RD capacity equips the Honda to provide flexible products to adjust the need of these regions. Business activities The company operates through four business segments: the automobile business, motorcycle business, financial services, and power products. The automobiles business division manufactures passenger cars, multi-wagons, minivans, port utility vehicle, sports coupe and mini vehicles. Hondas automobiles use gasoline engines of three, four or six-cylinder, diesel engines and gasoline-electric hybrid systems. Honda also offers alternative fuel-powered vehicles such as natural gas, ethanol, and fuel cell vehicles. In 2008, the company sold 3,925,000 units of automobiles. The motorcycle business produces a range of motorcycles, including scooters, electric-motor-assisted bicycles, sports bikes and large touring cycles. Hondas motorcycles use gasoline engines developed by Honda that are air or water cooled, two or four cycled, and single, two, four or six cylinder. In 2008, the company sold a total of 9,320,000 units of motorcycles. Honda offers a variety of financial services to its customers and dealers through its widespread finance subsidiaries. Hondas power products manufactures a variety of power products including power tillers, portable generators, general purpose engines, grass cutters, outboard engines, water pumps, snow throwers, power carriers, power sprayers, lawn mowers and lawn tractors (riding lawn mowers). Honda also manufactures the major components and parts used in its products, including engines, frames and transmissions. Peer Group The globalization of the Honda motor makes it face the global intense competition. The competitors include Ford Motor, Nissan Motor, Toyota Motor, Volkswagen etc.(in the automobile sector) and Yamaha Motor, Harley-Davidson etc.(in the motor vehicle industry). SWOT Analysis Strengths Weaknesses l Global diversification The company operates a total of 397 subsidiaries, and 104 affiliates all over the world. l Leading market position and good brand image Honda is one of the largest vehicle and motorcycle manufacturers over the world with strong brand strength. l Strong Research and Development capacity The large investment in RD could equip Honda the capability to differentiate itself in the intense competitive market. l Declining Market Share in Sector Evident of decline in unit sales and lost of market shares in the automobile industry. l Low employee productivity Honda has a weak proportion on the number of employees and the revenues. Opportunities Threats l Growing demand in Asian market Honda has taken measures to occupy the huge potential Asian market. l Growing demand in hybrid electric vehicles The companys emphasis on hybrid technology innovation will capture market trends as an opportunity to enhance its market share. l Global competition The competition would result in price pressure and thus reduce the profitability. l Tightening emission regulations The emission standards will cause Honda to occur more costs in product development, testing and manufacturing process design. 4.2. Key Financials Analysis Source: ThomsonFinancial Currency: JPY Scaling Factor : 1000000 JPY 31/3/2009 31/3/2008 31/3/2007 31/3/2006 31/3/2005 Sales 10,011,241.00 12,002,834.00 11,087,140.00 9,907,996.00 8,650,105.00 Operating Income 189,643.00 953,109.00 851,879.00 730,889.00 630,920.00 Net Income Available to Common 137,005.00 600,039.00 592,322.00 597,033.00 486,197.00 Total Assets 11,579,494.00 12,439,610.00 11,964,917.00 10,533,995.00 9,187,808.00 Total Liabilities 7,449,150.00 7,753,539.00 7,359,399.00 6,320,785.00 5,828,513.00 Common Equity 4,007,288.00 4,544,265.00 4,482,611.00 4,125,750.00 3,289,294.00 Net Cash Flow Operating Activities 383641 1126918 904525 576557 746624 l The operating income reduces dramatically, approximately 80% from the previous years result. This result is caused by the severe decline in the sales and the consequently increase in inventory cost. l Before 2009, all the s are in a healthy and steady upward trend. But in the fiscal year ended at 31st march 2009, the volumes all experienced a dramatic decline. They are caused by the sales plunge. l The declines trends are due to the economic recession caused by the financial crisis because the demand in Japan, US and Europe shrank. The automobile industry faces a severe challenge and most companies in the sector reported unsatisfactory results. 4.3. Multiple analysis 31/3/2009 31/3/2008 31/3/2007 31/3/2006 31/3/2005 Price To Earnings 30.7 8.6 10.3 Price To Book 1.0 1.1 1.6 1.5 Price To Cash Flow 4.6 4.2 6.8 Price To Sales 0.4 0.4 0.7 0.7 0.6 l Although the P/E ratio increases significantly, its not a good sign. The increase in P/E ratio is not due to the high expectation of the investors and the fundamentals such as growth opportunities. Instead, the soaring P/E is the result of the plummeting earnings to common shareholders. l The price to book ratio and price to sales declined in 2008 and 2009, indicating the declining

Country PESTEL Analysis of Nigeria

Country PESTEL Analysis of Nigeria METHODOLOGY Most scholars in various fields have pointed out several factors that they believe are responsible for why certain students chose certain career choice other than their preferred choice of career. Parental factor, peer group influence, financial status of their parents and guardian among other factors could be arguably said as the perceived factors that influence career choice of most under graduates of Nigerian origin. Hence, this work seeks to unveil and ascertain the level of influence on the aforementioned factors, putting into perspective the Nigerian factor. Contrary to the above assertion, some scholars believed that other factors could also be responsible in exerting influence on the individual in deciding which career to pursue knowing that student of Nigerian origin are collectivist in nature whilst others argue based on the job prospect and bad governmental institution set up by the Nigerian government. It is upon these arguments that the methodological chapter seeks to highlight the manner and ways in which the investigator gathered the relevant information and how the information gathered was used to answer the research question. This chapter focused on the discussion of the methods used in the cause of the investigation of this thesis. In other to determine the validity and reliability of this work, the researcher’s methodology is very crucial (Gilham, 2000; Fink, 2005; Brockopp, 2003). The word methodology is been used differently by different scholars in relationship to their chosen profession and areas of specialisation. Methodology in the area of research and investigation simply refers to those procedures employed by a researcher or investigator to uncover or reveal a set of problems; the procedures taken could be theoretical in some cases, and in other cases can also involve systematical collection and analysing of raw data. As a result, this methodological chapter will discuss its findings under the following sub headings, research design, population of the study, sampling pattern, research instrument, administration of the instrument, interviews and ethical issues as relates to the collection and use of data. RESEARCH DESIGN In the course of this research, the descriptive survey design was employed in the study. According to Amaid (2002), the descriptive survey design method of research is about collecting the ideas and data of a sample of the population targeted in the course of the investigation, so as to deduce and draw a conclusion on the population to which the sample is drawn. Surveys are often used in analysing real and concise information how it happen and when it happen. The survey design according to Cobb(2001) states that, the survey design gives the researcher the free will to other range of option within his or he disposal either through interviews, questionnaire or even through observation. The survey method can also use structured, semi structured and even unstructured questionnaire. However, it is believed that it gives the researcher a variety of options in arriving at a given solution that is called Triangulation (Descombe, 2012). This method of research allows the researcher to gather large number of information from respondent in order to infer into the population that is the main target of the study. Invariably, this method is the most suitable for this research. POPULATION OF THE STUDY The population sample involves students both male and female of the University of Bedfordshire, in the United Kingdom who are of Nigerian descent. SAMPLING TECHNIQUE The word stratified means in categories or placing items or people in various categories according to where they belong. Whilst random means a process of selection in which items of a set or population has equal probability of being chosen. In that, the stratified random technique chosen for this investigation reveals that each item selected ranging from male to female, post graduate to undergraduate and even the MBA’s all have equal probably chance of representation. Stratified random sampling technique was used for the study. The stratification was based on gender of the student (male and female) socio economic status of the parents (high and low) and age of the student. The stratified sampling technique according to Descombe (2010), has to do with equal representation according to their proportion in relationship to the number of respondent involved in the research, taking into account such vital information like the demography of the participant. AREA OF STUDY This investigation is carried out in the University of Bedfordshire, United Kingdom. The essence of this investigation is to ascertain the perceived factor’s that influences the career choice of Nigerian university student study in the university. SAMPLE According to Descombe (2012) sample simply means a small proportion of the entire population mapped out for study or investigation. It is believed by the researcher that, information about a field of study cannot be gotten from all the people and not everyone can be reached. Consequently, a selected few from the entire population is relied upon to infer into the remaining, hoping that what it found in that selected few can be qualitative and quantitative enough to be generalised. The total sample for this study consist of 200 students drawn from among the general population of the university of Bedfordshire that are of Nigeria origin and who are currently doing their undergraduate, post graduate and the MBA programmes respectively. RESEARCH INSTRUMENT A designed instrument titled perceived factors influencing career choice of university students was used to collect data for the study. The instrument has two sections 1 and 2. Section 1 of the instrument was designed to elicit respondent demographic data such as age, name, and state of origin. It also contains ethical statements concerning the use of data, confidentiality, and anonymity, the right to withdraw from the research and data security. Whilst section 2; of the instrument was designed to contain the perceived factors influencing career choice of university students of Nigerian origin. Also the section 2 contains a Yes or No based response and a comment box if student thinks otherwise. A follow up interview was also carried out in order to give the research both qualitative and a quantitative base, which was also described by Descombe as Triangulation or mix method (Descombe, 2010). INTERVIEWS According to Descombe (2012), this is a planned talk between two or more respondents that take place in such a way that the respondent is willing to answer questions directly from the person carrying out the interview. Notably, interviews are carried out to illicit response on certain issues of investigation. There are basically three types of pattern an interview follows and they are: Structured interview Semi structure interview Unstructured interview But for the sake of this study and investigation, the semi-structured interview was employed in order to follow up the responses given in the cause of carrying out the pilot questionnaire. SEMI STRUCTURED QUESTIONNAIRE This is a situation where the order of questions varies according to the responses given by the respondent as the conversation flows between them. This type of interview is called semi structure because there may be some intended question the interviewer had in mind to ask but keeps his options open depending on the responses of the person being interviewed. Therefore, this piece of research seeks to carry out its interview with ten (10) participants in order to give a different view from the once answered in the questionnaire with a full recording of the excerpt. QUESIONNAIRE The Advanced Learner’s Dictionary defines questionnaire as a set of question printed and submitted either manually or electronically to a set of audience in order to elicit their perception on the topic of investigation. Questionnaires can be delivered on a face-to-face value or by post. According to Descombe (2010), it also involves a set of designed sheet prepared specifically to gather information that could be used in due time for analytical purposes. Therefore, the purpose of using a questionnaire in the research is to find out those perceived factors influencing career choice of Nigerian students here in the University of Bedfordshire United Kingdom. The type of questionnaire employed is a YES or NO type THE DESIGN OF THE QUESTIONNAIRE The design of the questionnaire was motivated and influenced by the topic of investigation that is geared toward investigating the perceived factors that influences career choice of University students of Nigeria. As a result, issues like what questions to ask, pattern to follow in asking the questions and the sequence to which those questions should follow were of primary concern to the researcher. Furthermore, the design seeks to meet the aim and objective toward which it is been carried out and how to possibly collate the information therein. Going by that, the questionnaire was designed to illicit the responses of the participants on the subject of investigation and to see if the designed meets and answers the hypothesis of this investigation by the use of the questionnaire. PILOTING OF THE QUESTIONNAIRE The questionnaire was piloted with a small number of participants in order to know whether the questionnaire designed would meet the targeted aim. The reason is to underscore the shortcoming and strength of the questionnaire in order to give room for amendment where necessary. The process involved in this piloting was carried out through survey monkey where participant respond online through social networks such as the Facebook and Whatsapp and through the e-mails. ETHICAL ISSUES Just like every research and investigation, the researcher faces a lot of issues as relate to been professional and they are Informed consent Data protection and security Confidentiality and privacy Anonymity Brief overview of Nigeria: PESTEL Analysis Nigeria is regarded as one of the most populous countries in the world. It is situated on the western part of Africa with a population of 173.6 million people. Owing to that, there is a prospect for Nigeria to develop in all spheres of life both human and material wise. This work will base its explanation of all the factors mentioned above using the PESTLE analysis. Although, different theories could be used in relation to career and choice but the PESTLE embraces the entire dimension explained so far. The word PESTEL stand for political, economic, sociological, technical, environmental and legal factor of both the macro and the micro society that the students find themselves, which in one way or the other affects the decision of students in pursuit of their careers. (P)OLITICAL SYSTEM This mostly has to do with the governmental decisions of a country. The political culture of a country can influence the decision of career choices of students in that particular country. Over the years governments in most African countries own all higher places of learning and therefore, control the tuition fees and the appointment of lecturers and staffs. Thus, the decisions of government directly or indirectly affect how a student thinks and acts because most students will for the sake of convenience want to attend a university where the tuition fees is quite affordable. The Nigerian constitution of 1999 places the direct control of all public schools in the hand of the government (the constitution of Nigeria, 1999). The educational value index is 0.457 when compared to the US which is 0.939. School leaving age of Nigerian is 9.0 while the mean year for adult is averaged at 25 years thus making it 6334 educational system. The graph above shows the structure of Education in Nigeria; the 6-3-3-4 Educational System. Six years in primary school, three years in junior secondary, three years in senior secondary and four years in the University or polytechnics. (E)CONOMIC SYSTEM The living condition of the people also accounts for why students choose one career over the other. In a country like Nigeria where the social stratification places more gap between the poor and the rich and the average living condition of the people is below one dollar per day, it is believed that the poor will send their children to schools, which they can afford the tuition fees and the rich will do the same (Ekins, 2003; Lizt and Quij, 2004). Human capital development is a key factor in the growth and development of a country Gross Domestic Product (GDP). Nigeria has been improving her Human Development Index (HDI) since its inception to civil rule in 1999. The HDI is regarded as an important element for a nations wealth because it influences all round development of the country especially in areas such as, technology, skilled labored, computer expertise and machines. These developments are seen as important especially if the quality of life and production needs to be improved. Nigeria is ranked at the bottom among 187 countries which 0.487(156 values). Nigeria has a low level of HDI as compared to other countries in the sub region. They are branding of the Nigeria Economy leads to the Gross Domestic Product increase over the years and this has led to the diversification of the economy thereby making Nigeria the largest Africa economy surpassing South Africa. This trend has given rise to students seeking for employment and taking up career choice that they do not have the right aptitude and desire for. The improvement could be seen in the non oil sector of the economy given a GDP of 5.4 percent and 7.8 percent for the year 2011 to 2014. The graph above shows the GDP of Nigeria from 2004 up to the year 2015 showing the projected increase in the gross domestic product of the country. The graph above shows the GDP of Nigeria from 2004 up to the year 2015 showing the projected increase in the gross domestic product of the country. (S)OCIAL SYSTEM This involves all the interactions in the environment putting more emphasis on factors such as the demographic conditions of the actor in the system, their cultural orientation, choice of career and even the dynamism of the population. According to Hofstede (2010), every society has five cultural effect and these issues affect most decision we make depending on our societal values. The following are what he used to describe every society and they are: Power distance. Individuality vs Collectivism. Uncertainty avoidance. Masculinity vs Feminism. Pragmatic vs Normatic These are the five dimension of hofstede(2010). Figure 4. The diagram above shows a comparative view of Nigerian and the United Kingdom cultural setups. As discussed above, it shows the level at which those factors influence the individual in that society. POWER DISTANCE Nigeria scores very high (80%) in power distance as compared to the United Kingdom (35%). This shows that, there is a flow of power from the top to the bottom and people (students) take directive right from the top. It is expected that most students in such countries like Nigeria will pay attention to their parents, guardians, teachers, and even their boss in the office; therefore they tend to influence them positively or negatively in regards to their choice of career. Whilst in the United Kingdom there is a level play ground between parents, guardian, teachers, and even at place of work, such that students are free to make career decisions. LONG TERM ORIENTATION In Nigeria, most people take up careers that have the immediate benefit to their needs due to the poverty level of people in the country; thus they pursue those jobs with big packages so as to be able to fend for their immediate and extended family. Arguably, the Nigerian society is a collectivist society and that makes one to look after the large family; such responsibility influences the choice of career of most students from Nigeria. On the other hand, the students from the United Kingdom take up courses because they have the right aptitude and motivation for that particular course and profession and this is due to the fact that they are individualist in nature meaning that, they do not have pressure from family and friends. (T)ECHNOLOGICAL FACTOR The advent of technology in the country has brought about many hopes and aspirations for most students in the country. The social media has really added flavor to how things are done in the universities. Firstly, most of the students from low socio economic background and students that are engaged in one form of business or the other can key into online universities. Many institutions abroad have enlarged the prospect of students seeking admission into place of higher learning without adequate funds to finance their studies, in that, students from Nigeria are now benefiting from such opportunities because students are mostly influences by their aptitude and belief. Secondly, the advent of technology creates room for ideas to be shared across the world with ease. They tap into things happening in other institutions and universities in the world knowing that they are the future leaders. During General Olusegun Obasanjo’s led government; he encouraged and gave the private sector green light to grow economically in other to ease the burden on the government. This led to various reforms in the country including the Economic reform. Year 2000 saw the government privatisation program showing great sign of real progress thereby making fresh graduates from Universities benefit from the diversification of the economy. With Government having key control of most affairs of the states, the Telecommunication sector has proven a success especially with the introduction of GSM telecommunication in 2001 thus encouraging investments. (E)NVIRONMENTAL FACTOR Most students are kin about what the environment hold for them and with many universities keying into vision 2020. Students tend to pursue careers that will enhance their productivity in the environment. With hundreds of ethnic nationalities holding stakes and wanting clarity on what the Nigerian state holds for them, especially when given the predominance of the three major ethnic groups. This is always a big challenge to students who intend to take up certain choice of careers; thus, it is difficult identifying common goal and aspiration of students based on their career preference either as a group, individual or even sectional interest. Nigerian environment is distinctly divided into two, while the majority of population in the northern Nigerian is Muslims, those in the southern part of Nigeria are Christians with religious and traditional barrier hindering the choice of career of students from these areas, in that, they are mostly influenced by those environmental factors within and outside the society.(kuku,2012). (L)EGAL FACTOR The kind of laws operating in a particular country can hinder the prospect of students. Legislations and policies of government can also influence the effectiveness of students. For instance, in a country where Islamic laws prohibit students from taking some sets of professional job or career, it might not only affect the growth of that country but it will as well influence their choice of career.

Critical Pedagogy :: Teaching Education Essays

Critical Pedagogy "Education must be understood as producing not only knowledge but also political subjects." This statement by Paulo Freire is very bold, and can be translated in many different ways. First, the word knowledge can be understood in many different ways. By definition, knowledge is defined as: the acquaintance with facts, truths, or principles. This knowledge according to Freire would be entirely based on a receptacle idea of education, and just "filling us up" with facts that our teachers know. In some countries this knowledge would mean only the information that the government or the rulers would like the citizens to know. In this sense, education is used to create subjects that are all exactly the same. It creates subjects that usually would not deviate from the normal pattern, and would definitely not rebel against the system. Knowledge can also be something that each person establishes individually by experience and by learning from teachers who do not teach in the banking method, b ut in a method to help students understand concepts, principles, and ideas. The idea of education creating political subjects is also up for argument. A subject can be defined as: a person who is under the domination of a sovereign or a state. This means someone who is forced to live their life according to a government, and obey certain laws. No one should have to be forced to live and think only in a way that is acceptable to a government or political power. Everyone is an individual, and can ultimately make decisions for him or herself. If one’s way of thought is dominated or ruled by anything or anyone, then the individual is the one who is allowing this to happen to himself. He does not want to be free. He does not want to be an individual. People who wish to be individuals will never allow their thoughts and minds to be dominated by a political power. They may be persecuted for their deviance from the accepted way of life, but they will never allow someone else to rule the way they think. This has been shown through many great historical figures. For example, Mahatma Gandhi was forced to be a political subject under the rule of political leaders, and was persecuted because of his thoughts and actions. Throughout his hardships he persevered, and did not let anyone control his thoughts and his mind.

Madonna Kolbenschlags Lost in the Land of Oz Essay -- Madonna Kolbens

Madonna Kolbenschlag's Lost in the Land of Oz "In "Lost in the Land of Oz", Madonna Kolbenschlag explores the way old societal myths, which are created from the metaphors in our life, are no longer useful in today's society. The author believes we need to embrace the ego archetype of the orphan, the most influential metaphor for the self, in order to become a whole and complete person. Madonna Kolbenschlag discusses how our society is particularly hostile towards women, resulting in an acute feeling of self-loathing, doubt, loneliness, and guilt. Today, women as the orphan feel a complete sense of powerlessness and abandonment, not only by everyone around her but also by God. Instead of suppressing our anxiety, Kolbenschlag advises that we should deal with it and remove the hidden layers of denial. We need to befriend the orphan within us and through all of this we will grasp a new insight and develop new spiritual consciousness. I feel the book is geared more towards women reclaiming their cultural and spiritual power. Chapter Four, "Women-Out of the Cave, Into the Desert," discusses this issue, including the modern problems facing women and some solutions. Today, women struggle to rediscover and reconcile their new societal roles with their feminine identity. In the book, Kolbenschlag uses Dorothy of the "Wizard of Oz" as the feminine model that must confront the psychological challenges along her path in order to reintegrate her true feminine self. (p.20) Women are orphaned in so many ways by our society, but through realizing certain truths can we befriend the orphan within us. Previously, Kolbenschlag felt that there were only two levels of feminine consciousness: those asleep and those who were awaking. (p.78) However, in today's society distinguishing these levels have become more complex. Through her "liberation index," she identifies the five levels of feminine awareness of modern times, which are innocence, denial, escape, defection, and deviance. Many young women are in the first stage of innocence because they have been sheltered from the realities of life, coming from a "picture perfect" life. Poor women are also in this stage because they believe that their reality is the only way of being for them. In the level of denial, women recognize their options, but feel that it is more beneficial for them to stay in their present state. On... ...d independence is another great dilemma that I think many women go through, especially those in professional arenas and takes many of them a long time to resolve the two. Growing up in a matriarchal family, my mother has always instilled through actions the need for a woman to be independent. She raised my sister and I alone and I have seen her struggle with this dilemma, when she remarried. As Kolbenschlag said, often dependency is equated to domination, which is not what most women want. I think that sometimes everyone wishes that they had someone that they could lean on, especially through trying times, but that doesn't mean they want that person to take over the situation. I also do not believe that for a woman to be considered "independent" she must give up her femininity and individuality. In my opinion a male-dominated society has no authority to dictate the characteristics of femininity to a woman. As a conscious, young man, I know that are many obstacles in the path of women, some involving race and others gender. I am a combination of many characteristics, values, and beliefs. While I do not think I am ready to befriend my inner orphan yet, I know one day I will be.