Operator In A Call Centre In India

Suppose you are working as an operator in a call centre in India and receiving calls from Americans and Londoners. How would you handle such calls? Ans: As an operator first thing which I would try and ask politely would be that what is the route cause of the problem of the customer and would try and give time for explaining or removing out the frustration after which the customer would then have patience in listening to what we would try and explain.As an operator I would rectify the problem by all the better means and try to explain the customer in a better way that he would get convinced completely with the solution which could rectify the same. I would also make sure that the customer has any doubts or clarifications regarding the same and reconfirm the same from the customer about the solution explained to him was clear. As an operator I would co-operate with the customer to completely resolve the problem which ultimately satisfy the customer.I would also thank the customer for having the patience and giving us an opportunity to troubleshooting the issue and getting it rectified. I don?t want to speak to you. Connect me to your boss in the US,† hissed the American on the phone. The young girl at a Bangalore call centre tried to be as polite as she could. At another call centre, another day, another young girl had a Londoner unleashing himself on her, â€Å"Young lady, do you know that because of you Indians we are losing jobs? † The outsourcing backlash is getting ugly.Handling irate callers is the new brief for the young men and women taking calls at these outsourced job centres. Supervisors tell them to be „cool?. Avinash Vashistha, managing partner of NEOIT, a leading US-based consultancy firm says, â€Å"Companies involved in outsourcing both in the US and India are already getting a lot of hate mail against outsourcing and it is hardly surprising that some people should behave like this on the telephone. † Vashistha says Indi an call centre?s should train their operators how to handle such calls. Indeed, the furor raised by the Western media over job losses because of outsourcing

Cotton Profile

Cotton holds the position of being the most used fiber in the world as well as the â€Å"number one fiber used for apparel in the United States† (Willbank). Cotton belongs to the same family of hibiscus and okra. Among cotton’s species are the American Upland Cotton, a low multi-branch shrub grown annually; the long fiber Egyptian and the Sea Island cottons botanically grown in Egypt and brought to the U. S. ; and the Pima, originally known as American-Egyptian cotton (Pakistan Cotton Ginners’ Association). The exact age of cotton is unknown. Scientists, however, found â€Å"fiber and ball fragments from the TehuacA?n Valley of Mexico,† which they determined to be about 7000 years old. Cotton has been grown and used in India for more or less 5000 years (Pakistan Cotton Ginners’ Association). About 3000 years ago, it was â€Å"grown and made into cloth in the Indus River Valley in Pakistan (Willbanks), the same time Egyptians in the Nile Valley made and wore cotton clothing (â€Å"The Story of Cotton†). More than 1,300 years ago, Chinese emperor Ou-ti was recorded to have worn a cotton robe in his succession to the throne (Textile Exhange). In approximately 800 A. D. , Arab merchants brought cotton in Europe.In 1492, â€Å"Christopher Columbus found cotton in the Bahama Islands† (Willbanks). In 1607, cotton â€Å"was one of the earliest crops grown by European settlers† in Jamestown colony (Pakistan Cotton Ginners’ Association). In 1730, the first machinery to spin cotton was used in England. It was in 1793 when Eli Whitney invented the cotton gin, a machine used to separate cotton fiber from the seed. This gin made the separation process 50 times faster than doing it by hand (Willbanks). Today the whole world knows cotton. Its major producing countries are China, which â€Å"produced approximately 20 million bales of cotton,† and the United States, with 17.2 million bales of cotton productio n in 2000 (â€Å"The Many Faces of Cotton†). Other major producers are the Soviet States, and India, while less producing countries include Pakistan, Brazil, Turkey, Egypt, Mexico, Iran, and Sudan (Textile Exchange). There are three types of cotton, namely, low to medium grade cotton, better grade cotton, and organic cotton. The type â€Å"found in mass-produced goods and cotton blend goods† are called ‘low to medium grade cotton. ’ Better grades are the type with longer-staple cotton, often found in fine quality shirts and beddings.Examples of this type are the Egyptian cotton, Pima, Supima, American Egyptian, and Sea Island. Cotton grown without use of any pesticide and fertilizer is called organic cotton (Willbanks). Some of the famous manufacturers of cotton are Barhardt Manufacturing, BBA Nonwovens Veratec, Brannoc Fibers, Ltd. , Cotton Incorporated, Ihsan Sons (PVT) Limited, Leigh Fibers, and Textiles and Nonwovens Directory (Hegde et al. ) Based on the historical accounts on cotton fiber, it primarily served the purpose of clothing in various parts of the world.However, in the early 20th Century, a few cotton mills in the U. S. found â€Å"ways to upgrade the waste cotton fibers into saleable products. † This was the goal they had that was why they bonded fiber waste with latex and resin, whose end product was industry wipes (Hegde et al. ) Products such as â€Å"draperies, table cloths, napkins, and wiping towels† were developed after the World War II (Hegde et al. ). As people discovered mechanics and invented machines, cotton fiber served more and newer purposes than it originally did.Cotton is not only used for simple clothing but in a wide range of products and end uses, such as the basic apparel – blouses, shirts, dresses, children’s wear, active wear, separates, swimwear, suits, jackets, sweaters, neckwear, skirts, pants and hosiery (Swicoli AG Textile Services); shoes, handbags, and luggage (Willbanks); home fashion – curtains, bed spreads, comforters, throws, sheets, table mats (Swicoli AG Textile Services), upholstery fabrics, rugs, wall coverings, and tobacco cloth; sanitary supplies; industrial abrasives; book bindings (Willbanks); and medical and cosmetic applications – bandages and wound plasters (Swicoli AG Textile Services). It was found out in 1994 that 63 percent of cotton was utilized for apparel, 29 percent for home furnishings, and eight percent for industrial products and exportations (Willbanks). Within the last decade, bleached cotton fiber used for processing on conventional non-woven equipment has attracted interest and became available, particularly in medical and healthcare applications like in wiping and wiper markets and some apparel markets. However, since bleached cotton for non-woven application is relatively new, it is quite an expensive fiber and its sources are few (Hegde et al. ).Cotton fiber was also tapped to help control th e problem of soil erosion. Mulch & Seed Innovations, together with Cotton Incorporated and the Agricultural Research Service of the United States Department of Agriculture, has created â€Å"two all-natural cotton-fiber hydro mulch products† to answer the soil erosion problem. These mulches are more favorable than wood, paper, or synthetic ones because they allow grass seeds to develop faster while protecting the soil against heavy wind and rain (Delta Farm Press). This is all because cotton is porous, absorbent, and biodegradable, which makes it perfect for controlling soil erosion and developing seed (qtd. in Delta Farm Press).Cotton’s popularity is rooted from its desirable properties, which includes aesthetics, comfort, breathability, absorbency, soft hand, durability, and easy care (Shukr US). Cotton fabric, which is 100 percent untreated, â€Å"has a pleasant matte luster; a soft drape† (Willbanks) or fall (Shukr USA); â€Å"and a smooth hand† (Will banks) or appearance to the eye (Shukr USA). Cotton fabric is also known to be very comfortable due to its soft hand (Willbanks). In addition, it possesses excellent absorbency or â€Å"ability to take in and hold moisture. † However, it is not good at releasing it, thus poor wickability or â€Å"ability to transport moisture perspiration away from the body to the garment’s surface† (Shukr USA).Moreover, cotton is known for its breathability or air permeability, the ability of a â€Å"fabric to allow air to pass through its construction. † However, when cotton fabric becomes too moist or wet, its breathability is reduced (Shukr USA). Another undesirable feature of cotton fabric is that it wrinkles and shrinks easily. But with treatment or blending with polyester, wrinkles and shrinks are both reduced (Shukr USA). Cotton fabrics require easy care. They can be machine washed and dried. But sunlight harms cotton, â€Å"causing it to oxidize and turn yellow. † Acids also harm cotton fabrics. Cotton fabrics can be bleached but not too much since this will weaken the fibers (Willbanks). The cotton fiber is preferred by majority of consumers worldwide.This is why it will continue to increase its share in the fabric market (Hegde et al. ). Thanks to cotton’s rich history, desirable properties, and variety of uses, life now is more comfortable. Works Cited â€Å"Cotton. † Swicofil AG Textile Services. 12 October 2007 . â€Å"Fiber History. † Textile Exchange. 12 October 2007 . Hegde, Raghavendra, et al. â€Å"Cotton Fibers. † University of Tennessee Knoxville. 2004 April. 12 October 2007 . â€Å"History of Cotton. † Pakistan Cotton Ginners’ Association. 2001. 12 October 2007 . Penton Media.â€Å"Cotton-fiber hydromulch option for erosion control. † Delta Farm Press. 28 September 2007. 12 October 2007 . Shukr USA. 2007. Fabric Guide. 12 October 2007 . â€Å"The Story of Cotton. † Cotton Counts Education Resources. 12 October 2007 . â€Å"The Many Faces of Cotton. † Cotton Counts Education Resources. 12 October 2007 . Willbanks, Amy. â€Å"Cotton. † Fabrics. Net. 12 October 2007. .

The clusters Essay Example | Topics and Well Written Essays - 250 words

The clusters - Essay Example Agreeableness is a personality trait that is present in people who easily agree to what others have to say. They are not stubborn and are flexible in decision making. Lastly, conscientiousness is a personality trait grouping together people who do not take impulsive decisions, but give vast attention to what they do and how it might effect their reputation. They are the types who are deeply concerned about what others have to say about them. In my opinion, I fall under the category of neuroticism, as I happen to be a highly sensitive person. I tend to stay quiet in large meetings, and am often lost in thought. I take matters too personally, getting upset at the slightest of things. As much as I dislike this personality trait of mine, I find it difficult to rid these traits off. The second group in which I may be categorized is agreeableness. I do not like arguments, am I good listener and generally agree on what others have to say. I do not press much on statements I make and vary my opinion if someone else has a more convincing argument. Thus, I consider my self to be highly agreeable. Lastly, I am also a part of the group of people who fall under the title of conscientiousness. I am careful in choosing my words during a conversation, conscious that I do not end up offending the other person in any way.

The Character of Physical Law Coursework Example | Topics and Well Written Essays - 750 words

The Character of Physical Law - Coursework Example For instance, the moon still shines even when it is invisible. Einstein proved the relationship between conservation and locality principle in his special theory of relativity. According to Feynman, charge represent charged sub-atomic particle (electron or proton), hence a thing. On the other hand, energy is a behavior of objects, which can only be explained through abstract mathematical formulas. Charge obeys the principle of conservation, has the baryon number, and is relativistic invariance (Louisa, 2008). The three properties make charge more of a thing than a behavior. On the other hand, energy obeys the conservation principle but does have baryon number. The photon polarization experiment attempts to explain polarized sinusoidal plane electromagnetic wave. The experiment can be set in a linear or a circular format to achieve either circular or linear polarization. To determine the relationship between polarization and wave motion the experiment applies quantum mathematical vari ables such as vectors, unitary operators, and probability. The experiment investigates infinitesimal transformations of classical polarization state of a wave. The experiment can be conducted using a pair of Polaroid sunglasses. According to Bell's Theorem, the two values are localized. Thus, their action goes beyond their presence. In this experiment, the speed of light is a universal constant that represent the upper bound (limit) of any variable. According to Goodman ‘grue’ is the appearance of an object relative to a time interval t. Thus, an object is grue if it is green before time t elapses and blue afterwards. However, the original definition asserts that an object is green irrespective of the time it is observed. Grue is used to make conclusions on scientific induction problems. For example, the problem of green and grue emeralds can be concluded through induction. Obviously all emeralds examined so far are green; therefore, we are compelled to conclude that al l emeralds discovered in future will be green. It is unrealistic to conclude that emeralds discovered after time t will be grue. The statements; â€Å"all emeralds are green" and all emeralds are grue" are classical induction problems (Ragep, 2001). Such problems cannot be concluded using the principle of grue due to the invariance of form. In addition, ‘grue’ is an inherently time-indexed concept. The concept is not well defined due to variation of language and definitions. Therefore, the term ‘grue’ should not be incorporated in induction. Galileo principle of inertia asserts that a body moving on a level surface will continue to move in the same direction, unless disturbed. This principle is related to Newton’s first law of motion, which states that relate the resultant force to mass and acceleration. The force of gravity provides an answer to questions of â€Å"what keeps planets on their orbits.† Newton concluded that the force of gravit y is universal and is dependent on masses of objects and the distance separating them. These insights are equivalent to the Kepler's planetary motion law, which states, â€Å"An imaginary line drawn from the center of the sun to the center of the planet will sweep out equal areas in equal intervals of time.† On page 21, Feynman discusses how Newton tested an idea of his and concludes: This was a dramatic test that everything is all right." Feynman argued that Kepler’

WEEK 3 DISCUSSION Essay Example | Topics and Well Written Essays - 500 words

WEEK 3 DISCUSSION - Essay Example Porter is clear in explaining that because a company is profitable and effective at a given moment; that is not necessarily the benchmark of how a company will perform in the future. Like science’s description of life on Earth, the corporation must continually evolve and become more efficient as it maintains a keen eye on its competitors. Most economists like to use the Japanese as a business model when it comes to efficiency and profitability. True the country’s top businesses seized upon a time period where Western companies seemed to be asleep at the switch. Yet their competition has seized upon strategy and in a sense is beating the country’s businesses at their own game and it appears several decades later that the opposition is winning (Porter). In using the Japanese model, Harvard Business Review points out that in 1970 Komatsu was a tiny bulldozer company hardly known outside Japan and had a minute sales fraction of Caterpillar, the American giant in the industry. Fifteen years later, Komatsu had expanded to a $2.8 billion company with as many product lines as their mammoth opposition. As well, they had expanded into the emerging industrial robotics area (Hamel). Did Caterpillar concern themselves with Komatsu in 1970? It is doubtful but had they done a Strategic Intent analysis at the time, they may not have had such a tremendous slice of profit removed in 1985. In a sense, Albani Perfumes is the current Goliath in its market of Latin America. With current sales of $10 million, it is still a relatively small company but has managed to do well against its current competitors. Yet as discussed in Week 2, China is making headway into the market with knockoff perfumes. It could probably be argued that Albani would not win a trade war with the world’s fastest growing economy and this would be rated at zero, Strong Negative

Models of art ( anthropology ) Essay Example | Topics and Well Written Essays - 1500 words

Models of art ( anthropology ) - Essay Example This period from 25 to 220 CE differed from its earlier namesake (Pirazzoli-T'Serstevens 34). As regards the chronology of the Han ceramics, the dates furnished by two pieces are of primary importance, the one, 133 B.C., found by Bushell on a vase of the Dana collection; and the other, 52 B.C., on a jug (Pirazzoli-T'Serstevens 40). There is another vase bearing the year-period Shn chek, i.e., 61-57 B.C.; but the reading of this inscription is still obscure. On the basis of these data, archeologists presume that this pottery originated in the second and first centuries before our era, although it may well be that some pieces belong to the first century A.D., which may be considered as the terminus ad quem. From internal evidence it is possible to fix the date of the type of the hill-censer in the first part of the first century B.C (Pirazzoli-T'Serstevens 42). The widest spectrum of surviving types is found in craft goods of daily use such as ceramics and textiles. Ceramics can be classified according to many different features. Technical criteria, including firing temperatur e and body types; style features, including glaze, decor, and favored shapes; geography or kiln sites; and the issues of taste, use, and markets discussed here are all important. Ceramic wares range from middle-class types to refined luxury wares commissioned by the imperial household and limited to that environment (Spirit of Han 12). Vessels occupied a special position during the Han dynasty as the main tool of cooking and baking. A typical bowl-shaped vessel of Han pottery with oblique handle terminating in an animal's head, much resembling the cooking-vessel found on the stove (Cooper 38). To obtain a clear understanding of this type, archeologists discuss two related bronze types of the same period. By the term chiao tou, two kinds of copper or bronze vessels are understood: (1) a vessel provided with three feet and a handle, and serving to cook food in; (2) a cookingpan, used in camps by soldiers for preparing their food in by day, and for striking the watch by night. The latter vessel is also called tiao tou. To avoid confusion, critics restricted the term chiao tou to the tripod cooking-vessel, and tiao tou to the cooking-pan without feet (Cooper 36). The example selected for analysis is the chiao tou made of bronze (See Appendix, Picture 1). The total height up to the head of the animal is 24.3 cm; up to the rim of the vessel, 16 cm; the height of the feet being 11.2 cm. The diameter of the mouth is 19.8 cm; the depth of the vessel, 7.8 cm. The copper material is covered with black, reddish, and green spots. According to the verbal explanation of a Chinese archologist at Hsi an, the animal forming the handle is "the scaly dragon" and the vessel was used like a ladle, for scooping water, the long neck of the chiao serving as handle (Cooper 37). The animal's neck and feet are curved in a different manner. The neck is joined to the vessel by means of two small parallel pieces, but the whole is made in one cast. The mouth of the monster is wide open. The feet are rounded out, and the lower ends are evidently worked into hoofs. Around the body of the vessel are four parallel raised lines, the so-called "girdle- ornament." Through the

General Equilibrium and welfare economies Essay

General Equilibrium and welfare economies - Essay Example A deductive structure that tolerates a contradiction does so under the penalty of being useless since any statement can be derived flawlessly and immediately from that contradiction. In its mathematical form, economic theory is open to an efficient scrutiny for logical errors." We will try to be coherent, and we will do our best to avoid any contradiction when speaking about General Equilibrium and Welfare Economics. It is easy to get confused with these microeconomic models, so we will deal with them using simple and logical words. The most important thing is to understand those models and to apply the knowledge in our everyday life as much as possible. Microeconomics is defined by the Wikipedia (2005d) as "the study of the economic behaviour of individual consumers, firms, and industries and the distribution of production and income among them. It considers individuals both as suppliers of labour and capital and as the ultimate consumers of the final product. It analyzes firms both as suppliers of products and as consumers of labour and capital." It is necessary to understand this simple definition to apply that knowledge to General Equilibrium and Welfare Economics. ... Harberger (2002) speaks about the importance of Microeconomics as follows: "The strength of microeconomics comes from the simplicity of its underlying structure and its close touch with the real world. In a nutshell, microeconomics has to do with supply and demand, and with the way they interact in various markets." In microeconomic theory, the partial equilibrium supply and demand economic model was originally conceived by Alfred Marshall when he tried to explain changes in the price and quantity of goods sold in competitive markets. This microeconomic model just deals with an imperfectly competitive market. It has its foundation in the theories used by some economists before Marshall like Adam Smith, and it is one of the most fundamental models of economic schools in the present time, widely used as a basic building block for many other economic models. The theory of supply and demand is important for understanding a market economy as it is an explanation of the mechanism by which many economic decisions are made. Nevertheless, unlike General Equilibrium models, the supply and demand theory offers a partial equilibrium model fixed by unexplained forces. (Wikipedia, 2005d). The theory of supply and demand frequently considers that markets are perfectly competitive. This means that there are many buyers and sellers in the market. It also means that none of them have the capacity to influence the price of the good. In real life, this assumption usually fails because some economic agents have the ability to influence prices. (Wikipedia, 2005d). Wikipedia, 2005h In Microeconomics we say that the market "clears" at the point where the supply and demand find a balance at a given price. It means that the amount of a commodity at a given price equals the

Something interesting in Film Studies (Which University College Dissertation

Something interesting in Film Studies (Which University College London) will be interested - Dissertation Example The current research intends to fill the gap in research and aims to evaluate how the present day Cinematographers perceive the changes have impacted their work environment and also the quality of work that they perform. The current research is expected to explore the changing role of the cinematographers in major Hollywood studio, with the aim of understanding if the concept of director of photography has evolved or diminished over time. Research Question The main research questions that guide the research are: -Is the theoretical and practical knowledge of cinematography still more important than using latest technology? -What is the role of instinct, intuition and experience in the current arena of Cinematography? -How has the introduction of latest technology and technicians in Cinematography department altered the work environment, communications and cooperation    It is essential to ask this question as current day cinematography is largely about lights, animation, after-effe cts, audio-visual effects – activities that are undertaken post the shooting (Cunningham, 2005). The work involved in Cinematography today involves personnel other than the cinematographer (LoBrutto, 1999), and hence it becomes important to understand how the work of soft factors related to communications, work-interactions, attitudes and behaviors impact on the overall cinematic process.       Review of Literature The introduction of digital technology, the fast pace of technological advancement and the changing expectations of an audience that is increasingly tech savvy (Hoffmann, 2008), have posed wide challenges for film cinematography (Brown, 2011; Mascelli, 2009) and spawned a new generation of cinematographers. However, personal reports from cinematographers (Rogers, 2000; Rogers, 1998; Bergery, 2002; Ellis, 2011) and several prior researches (Schaefer and Salvato, 1986)   have provided insights about probable problems and issues that digital imagery and the invo lvement of multiple technicians the ‘Digital Imagery specialists’ brings to cinematographer’s job (Ballinger, 2004). While the technical quality of cinematography has improved tremendously (Greenhalgh, 2003), it appears that the intuitive and inherent talent of the cinematographers is perhaps not being utilized to the fullest (Malkiewicz and Gryboski, 2002). A preliminary review of the available literature has revealed that some work has been done, especially via interviews of cinematographer, to assess their experiences and perceptions about the profession. However, none of the previous research has aimed to specifically explore how the changes in the soft factors – the interpersonal interactions, communications, cooperation that the latest technology entails - impact on the work of the Cinematographers. The current research therefore aims to provide a more holistic insight about the changes that Cinematographers have to deal with, and the impact on their work. Research Methods In order to explore the current and changing role of cinematographers, both secondary and primary research is proposed. The secondary research is undertaken using an exhaustive

Cyber Attacks and Politics from a technological and security Essay

Cyber Attacks and Politics from a technological and security perspectives - Essay Example The act of cyber attack is commonly known as the computer network attack (CNA). Politics encompasses the manner in which a nation or political entity is being governed. The term is primarily concerned with the controlling and the administration of the internal and the external affairs of that particular entity. In addition, this term is also applicable in other institutions such as religious or academic with regards to how authority and power is exercised within them and the tactics as well as the methods applied in the formulation and application of policies for the organization. This paper will focus on establishing the cyber attacks acts and politics from either the technological or security point of view. The government of all nations should put in place effective cyber security measures. These should be specifically aimed at detecting and combating all acts of cyber attacks, especially cyber terrorism. This can be done by governments allotting adequate funds to the relevant entities such as the ministry of defense to enable it counter attacks such acts. Cyber security deals with the protection of information and information systems against the significant threats that global computer networks face. Some of these threats include cyber terrorism, cyber espionage and cyber warfare (Czosseck & Geers, 2009). These threats are mainly targeted towards the political, infrastructure and military assets of the nation or at other time people within it. Cyber security is a highly critical issue that nation’s government should enact appropriate strategies of security to handle (Macaulay, 2009). For instance, the federal government of the United State embarked on allotting more than $ 13 billion each year from the year 2010 to cater for the Cyber security. The reason why governments should be concerned with the issue of cyber security with regards to terrorism is because terrorists groups use the

Ethics, Political Philosophy and IR Essay Example | Topics and Well Written Essays - 2250 words

Ethics, Political Philosophy and IR - Essay Example International law tries wherever possible to take a non-biased stance, not favouring one region or another during conflict. However, this is difficult where two regions are in conflict with one another and have different views and desires. This type of problem was the case for both Kosovo and Palestine. Kosovo was a territory of Serbia although it declared its independence in 2008 and was subsequently accepted by the international community, while Palestine remains a territory of Israel. This has become a difficult international relations issue, and Palestine continues to be a territory of Israel, which has been the source of much violence instigated by both sides. The difference in approaches by the international players has occurred because of the warfare that is occurring between Israel and Palestine, and the terrorism component of the Palestinian government. This makes it difficult for international organisations and external states to support Palestine. An additional important a spect is the fact that Kosovo deliberately manipulated their position in order to gain international sympathy and assistance. Background Kosovo is located in southeast Europe with a land area of 10,887 square kilometres and a population of approximately 1.8 million people. It gained its independence from Serbia in February of 2008 and is now recognised as an independent state. Although the US and the EU have recognised the independence of Kosovo, some states, including Serbia, contest this and do not feel that the state should be considered as independent . The decision to grant Kosovo independence in the international arena was unusual, as conflict has been occurring between Kosovo and Serbia. Nevertheless, the move of Kosovo was considered to be legal under international law and the state consequently became independent . However, the same is not true of the Palestinian territories. The Palestine territories are not recognised as an independent state, instead they are considered t o be part of Israel. The conflict between Israel and Palestine has been ongoing, with external states and international agencies attempting to facilitate resolution. External states hoped that eventually Palestine could be recognised as an independent, democratic state, however, this has not come to pass. In 1993, Israel agreed to allow a period of self-rule for Palestinian territories. However, they maintain military, maritime and airspace control of the region, as well as restricting access. The Palestinian territories are areas of continued violence and debate. The territories consist of two main regions, the larger West Bank and the smaller Gaza Strip. The regions are controlled separately. Mahmud Abbas, the elected Palestinian president in 2005 governs the West Bank, while members of the Islamic Resistance Movement (Hamas) control the Gaza strip. As Palestine seeks to gain its independence to be recognised internationally, violence continues to rage between the two sides . Isra el’s approach to Palestine has resulted in occupation for close to 30 years, and economic initiatives that have damaged Palestine while strengthening Israel . Conflict continues to grow between Palestine and Israel and the situation is now that of a civil

Physics Solenoids Essay Example for Free

Physics Solenoids Essay

McAfee Spyware Blocker Essay Example for Free

McAfee Spyware Blocker Essay McAfee, an Intel company, has been an industry leader for antivirus software to protect personal computers for many years. The company has expanded its services from protecting computers to also protecting cellular browsing as well, the software can be used on the iPhone, and Android phones. Product McAfee is introducing a new line of software designed specifically for Android and iPhone devices to block unwanted spying from applications downloaded on the mobile devices. McAfee Spyware Blocker will target applications designed to collect personal and private information. The applications on the users phone that are targeted are; photos, email, browsing history, camera, contacts, passwords, and all information posted in mentioned applications. Mission Statement McAfee Spyware Blocker for the iPhone and Android follows the same mission as the products for its personal computer software. Our mission for the McAfee Spyware Blocker application is to protect each client’s identity and personal information while using their mobile device with an advanced innovative software program designed to protect all information on the mobile device. The McAfee Spyware Blocker will filter all movements on mobile devices and warn the user with unwanted tracking, or spying from developers of applications. This also includes third party applications such as the popular Facebook, Pinterest, Yelp, Instagram, and other social media sites who require access to the users information. Customer Need As the first of its kind, McAfee Spyware Blocker, has set itself apart from other spyware blockers. The software provides protection on mobile devices, and from unwanted sharing of information when downloading applications. The software creates a separate profile based on user preferences, which block all real information of the user. It then forces applications to use false information, created by the user, to run applications that require access to personal information. Clients of McAfee are guaranteed by the history of the company, and its proven success and growth of its other products, which set the company apart from the current competition. The company is in constant development of its products to improve, grow, and meet the quick changing needs of technology and clients. McAfee follows trends and see’s the need for an advanced spyware blocker for the mobile market. The division has developed, what it feels, is an advanced, superior product for its current client base, and has developed a plan to achieve a new market of customers. Vision Model The vision of the McAfee Spyware Blocker is to create the best mobile spyware blocker in the market. The company started with the iPhone and Android markets first, but will add the iPad, iPod, tablet, and eventually all wireless devices. Wireless devices could potentially allow applications to be hacked and monitored for personal and private information. With the growing market of personal mobile and wireless devices, McAfee will continuously grow and advance the current software technology. The advances developed will provide upgrades for current clients and new software for new devices and platforms. The demand for privacy protection in today’s quick moving and growing technology market speaks volumes for the need for new advanced software for the growing community of mobile and wireless devices. The decision to create the McAfee Spyware Blocker division and be a leader in the market was an easy decision, and one that will grow the company in the direction of the ever-expanding technology movement. Business Model Throughout the history of McAfee products, the growing development of new technology has brought about a high demand and need for protection of client’s information. The need to protect clients has grown from personal computers to mobile and wireless devices and has our clients asking for more advanced protection while using an array of devices Mobile browsing on an Android or iPhone device, allows spies to access personal information. In recent years, breeches have caused an increase of identity theft directly related to mobile devices. The information stored, or applications used while on the device are likely to provide an expert hacker to gain valuable personal information. To satisfy the consumer need for protection, McAfee developed the spyware blocker division. The value created to offer advanced protection while operating the Android or iPhone devices, is unparalleled to any other spyware protection claims. No other spyware developed by competing companies has provided the user with absolute confidence of protection while using their mobile device. The software is an advancement of our current products, and the basis of the spyware is the same as in our other products. Because we have added to an existing product, the product, planning, development, and creative costs were minimal in relevance to the overall product offered. The company will continue to develop products that are on the cutting edge of what is going to come in the future. By utilizing the current software platforms, coding, scripting, and language, we are able to make advances quickly and cost effective. McAfee Spyware Blocker will continue to grow and develop as the market grows, and technology advances to include new products, McAfee, Inc. (2014). Vision, Mission, Value The previous launch of the McAfee Expanded Data Security, Application Security, and Ease of Administration in 2012, protected users from browser invasions. The applications, however, did not stop companies from using information from a clients phone, McAfee, Inc. (2014). The previous launch of mobile device protection, allowed McAfee to move in the direction of advanced mobile and wireless protection, by the development of the McAfee Spyware Blocker. The company continues to move in the direction of technology development and advancements and the need to create software to protect clients using multiple platforms, and from the creators  of applications that require access to personal information. The vision and mission of McAfee have always been to protect and provide its clients with the most advanced software protection from spies and hackers. The decision to create a new line of defense against advanced hackers and spies came from the need to protect against unlawful privacy breeches. The value of the product could be described as valuable beyond any dollar. To sell the product, the cost to produce, and the market value of the product describes the cost of the product to be $59.99, which will include any follow-up updates, McAfee, Inc. (2014). Vision, Mission, Value Summary The vision of McAfee Spyware Blocker is that each client will feel secure and trust that their information is protected on their Android or iPhone devices, and in the future, other wireless and mobile devices. The future of McAfee Spyware Blocker, according the analysis of the market research, shows that the software will continue to grow with demand of its clients and technology. The mission of McAfee Spyware Blocker is to be the best in the market, to out sell, out develop and outshine the competition. The ability to build and expand on an existing product to provide clients the best possible product has allowed McAfee to be a leader in spyware blocking software. The employment of highly knowledgeable employee’s of McAfee products gives client’s confidence in receiving assistance with the product Employees will have vital knowledge of the product and how the product works. Having extensive knowledge the users platform (Android/iPhone) will not only give confidence to the leaders of the McAfee Spyware Blocker, but also the end users of the software. Protection of personal information is priceless. Everyone, including the leaders at McAfee, want protection from theft of information. The McAfee Spyware Blocker gives all users exactly that, protection. The stated value  of $59.99 for the product does not include the value of protection, that is the additional bonus of the software. Principles and values The principles and values of the McAfee Spyware Blocker division follow the same guidelines of the company, McAfee, Inc. (2014). Listed below are the five principles of McAfee: 1.Conduct business with honesty and integrity 2.Follow the letter and spirit of the law 3.Treat each other fairly 4.Act in the best interests of McAfee Spyware Blocker and avoid conflicts of interest 5.Protect the company’s assets and reputation, McAfee, Inc. (2014). The company’s business values in the division of McAfee Spyware Blocker follow directly in line with McAfee, Inc. They are listed as: 1.Expertise – We have a deep mastery of digital security, and we never stop building and improving our expertise. 2.Partnership – We have a true sense of teamwork and partnership across McAfee functions and with channel partners and customers, developing collaborative solutions that offer tangible benefits. 3.Integrity – We’re in the business of protecting data from the unscrupulous, performing to the highest standards of ethics and responsibility. 4.Results – We have definitive goals with definitive outcomes, always striving for higher performance and never losing focus. 5.Courage – Being always ready is a requirement for courageous leadership across our business. We’re never intimidated by the audacious challenges we face every day, McAfee, Inc. (2014). The division of McAfee Spyware Blocker promises to be innovative regarding new technology developed for Android, iPhone, wireless devices, and other devices as they grow and change. The spyware blocker software will continue to advance and grow as the malicious methods of unscrupulous individuals and companies develop new ways to spy. References McAfee, Inc. (2014). McAfee for Consumer Retrieved from http://home.mcafee.com/?CID=MFEen-usMHP001 Pearce, J. A. II. (2013). Strategic management: Planning for domestic and global competition (13th ed.). New York, NY: McGraw-Hill. Thompson, A. A., Gamble, J. E., Strickland, A. J. (2012). Crafting and executing strategy: The quest for competitive advantage (18th ed.). New York, NY: McGraw-Hill.

Obstacles to Internationalization of Vietnamese SMEs

Obstacles to Internationalization of Vietnamese SMEs Major difficulties and obstacles to internationalization of Vietnamese SMEs Financing problems Lack of capital to expand production and business are considered as common phenomenon of SMEs. Despite of Vietnamese government’s effort to facilitate SMEs’ process of accessing capital and commercial banks have made great strides in the provision of credit to SMEs, surveyed about the difficulties, more than 60% of SMEs often have difficulty in financing, according to Vietnamese Ministry of Planning and Investment (VMPI, 2009). SMEs usually mobilized capital from relatives, friends or bank loans. Clearly, the poor access and low speed to access to capital is main disadvantage of SMEs compared to large corporations because it stymies the expansion, especially foreign expansion, of SMEs. The fact that only 30% of the capital is borrowed from banks and credit institutions. The main reasons are, most business have insufficient collateral for the institution to borrow money, financial management is not really transparent, and creditors sometimes acquire reputations as credit worthy because of moral hazard and adverse selection problems (TD). Sometimes, in hurry and needing capital, SMEs have to pay for non-financial creditors with interest rates 3 to 6 times higher than common official rates (VMPI, 2009). Difficulties in land and production premises Another difficulties that SMEs have to face is land and production premises. To some extend, it is also another financial problems for them. Over half of SMEs have major operations in the field of trade and most of them use their house as office, or lease small offices (VGSO, 2009). Otherwise, many manufacturing SMEs have to rent the land or premises with high cost. Even when they want to have long-term investment, there still is hesitation due to lack of legal guarantee (TD). Recently, many places have carried out many planning and construction of industrial clusters of SMEs aimed at bringing together the business production business. Some provinces such as Ha Noi, Bac Ninh, Vinh Phuc, Hung Yen, Hai Duong, Ha Nam, Thai Binh, Da Nang, Quang Nam, Quang Ngai, Binh Duong, Dong Nai, Ho Chi Minh Cityhave built many industrial clusters for production and attracting foreign investment. However, due to rent land with inadequate financial capacity of businesses in small scale, so many SMEs st ill cannot access these zones. SME survey data in 30 northern provinces, showed that 42% of businesses having difficulty in land and production premises. Imperfect information Another disadvantage of SMEs’ entry is their information disadvantages about market such as labor market, materials market, and output market conditions. Besides, customers’ poor information about these new entrants also account for blockade new SMEs have to face in foreign expansion procedure. However, there is argument that steady entry might erode the information barriers because later entrants can learn from earlier entrants’ mistakes. The higher steady flow of new entrants, the less dependence of customers and even workers on established large corporations (TD) Corporate management is not high quality and low quality human resources Level of production and business management of SMEs which are almost private enterprises, is still limited and largely based on personal experiences of business owners, investment with little application of information technology into management. Skilled workers in SMEs are fewer compared to large corporations because of relatively lower and less stable salary. Especially, new market entrants also may find it difficult to attract good workers because employment and contracts with established large firms are seen as less risky. Low level of technology, weaknesses in RD Most SMEs have the backward technology, equipment. According to VMPI, results of survey for small and medium enterprises in 30 Northern provinces, in the nearly 11 thousand industrial enterprises surveyed, there are only 8% of businesses having advanced technology. Surprisingly, there are 50% of businesses said they could reach the average level of technology, and the remaining 42% of enterprises chose the answer of backward technology (VMPI, 2009). Moreover, skilled workers in SMEs are few, so the quality of products, goods and services is not high, thus they have weak competitiveness and difficult to dominate domestic and international market. The level of investment in technological renovation of enterprises is still low compared with development requirements. Most SMEs are lack of motivation on the research for technological innovation. Content of technology and knowledge in goods of Vietnam SMEs are low. In fact, the product is made mainly based on capital and unskilled labors. Only some small firms are innovators. Many smaller firms undertake no innovative activity. Some may be serving local niche markets relying on owner’s control. Still other small firms might be unsuccessful innovators (TD) Awareness and observance of the law is limited A number of SMEs have not followed strictly the provisions of law, especially provisions on taxation, financial management, labors management, quality of goods and intellectual property. The situation of complaint about the laws compliance of enterprises has been popular even in the period of deeper economic integration with various international commitments. This could even lead to conviction because of tax and financial violations. Therefore, limited awareness of law brings greater barriers to foreign expansion because SMEs need to work with not only domestic but also foreign legal system. Survey report The difficulties and benefits to the internationalization of SMEs 1. Difficulties To find out solutions to promote internationalization, research has to point out the obstacles from the environment inside and outside the enterprises. For SMEs, the main difficulties are often referred to as inside and outside difficulties. Inside difficulties of Vietnamese SMEs Inside difficulties: Lack of capital, Lack of quality human resources, Out of date Technology, Difficulties in acquiring land and facilities for manufacturing and trade activities, Lack of knowledge and experiences in international business environment, and Limitation in management capability. 1: Lack of capital 2: Lack of quality human resources 3: Out of date Technology 4: Difficulties in acquiring land and facilities for manufacturing and trade activities 5: Lack of knowledge and experiences in international business environment 6: Limitation in management capability 7: Others Data from our survey shows that Lack of capital, Lack of quality human resources and Lack of knowledge and experiences in international business environment are main difficulties of SMEs. Especially, there are about 50% of SMEs considering the lack of capital is most important reason inside SMEs, which is the obstacle to the internationalization. Other reasons such as Out of date Technology, Difficulties in acquiring land and facilities for manufacturing and trade activities, Limitation in management capability are not higher but each of them also account for more than 10%. Outside difficulties of Vietnamese SMEs Outside difficulties: Highly risky and competitive environment, Unattractive profit, Disadvantages from the Vietnamese Policies, Too many barriers and restrictions to market penetration in many foreign countries. 1: Highly risky and competitive environment 2: Unattractive profit 3: Disadvantages from the Vietnamese Policies 4: Too many barriers and restrictions to market penetration in many foreign countries 5: Others In terms of outside reasons, almost SMEs (nearly 70%) consider highly risky and competitive environment is the main obstacle to internationalization. One of the special features are drawn from the survey is, in addition to concerns about the risks and fierce competition in the business environment, many SMEs consider the inadequacies of government policies in Vietnam and barriers and restrictions to market penetration in many foreign countries are the main obstacles to their internationalization: 2. Benefits The main benefits: Helping innovation technology, Business experience gaining, Improving the qualification for employees and leadership skills for the management, Spreading enterprise’s image, brand and prestige, Providing opportunities to attract and accumulate more capital. Benefits from internationalization: 1: Help with innovation of technology 2: Help with business experience again 3: Improve the qualification for employees and leadership skills for management 4: Help spread your enterprise imagine, brand and prestige 5: Provide opportunities to attract and accumulate more capital 6: Others In terms of positive effects, according to our survey, most SMEs think that five positive effects mentioned above are the main positive impact on their business. Other positive impacts account only 1.13%. Especial thing is, there are nearly 70% of SMEs believe internationalization will help them with business experience gaining. Actually, in a volatile business environment with many risks and challenges, this is a positive and optimistic signal of SMEs. Furthermore, many of them believe that internationalization helps to expand their business, brand and prestige. Moreover, as discussed in obstacles part, lack of capital is significant obstacle to internationalization, but in the chart above, we can see that they also think internationalization as a way to providing opportunities to attract and accumulate more capital (with more than 50% of SMEs believe internationalization as a way to providing opportunities to attract and accumulate more capital). Recommendations The result of this research lead to some recommendations for policy makers and SMEs managers For policy makers Create a favorable business legal environment which is equal, transparent, Continue to further economic reform and open the economy policy; Continue to simplify the regulations to create favorable conditions for business registration, market entry and operations of the firms: Enterprise Law, Land Law (Facilitate access to land and production premises for SMEs), Tax Law, Trade Law (Promote the international economic integration through bilateral, regional and multilateral channels), etc. Create favorable conditions for SME access to finance: Credit guarantee fund, SME financial fund, venture investment fund, get loan from commercial banks, etc. (Ministry of Finance, State Bank of Vietnam, Provinces and central run cities) Support SMEs to improve their competitiveness: technique innovation, intellectual property protection, training on enterprise management and for human resource, market information (Ministry of Science and Technology, Ministry of Industry and Trade, Ministry of Education and Training) For SMEs managers In internationalization process, SMEs need take initiative in preparing the necessary â€Å"baggage†, creating a basic capacity of international economic integration and ready to grasp better the opportunities and confront challenges from this process Map out a strategy to internationalize SMEs need to carefully research the market, study the strengths and weaknesses, research opportunities and challenges; clearly define the objectives, benefits and risks of internationalization; find out the main factors and conditions deciding the success of internationalization; choose the suitable methods of internationalization. Take opportunities to attract more capital and innovating technology In terms of technology, SMEs need to promote its inherent flexibility to capture and take advantage of the opportunity to catch new technology. Besides financial aid from the government, SMEs should actively seek opportunities from other resources such as financial support from the joint venture partnership; establish feasible business projects to attract capital from banks, venture capital funds; conduct joint venture with other firms as needed. Apply international standards in production and business One of the challenges or obstacles for Vietnamese SMEs when enter the world market are the technical barriers to trade. Countries have different requirements related to goods and services. When international economic integrating, Vietnam SMEs must also acquiesce by these requirements. Therefore, it is necessary to apply international standards in production and business activities actively, depending on the requirements of markets and depending on the ability of each enterprise. Emphasis on improving human resources quality SMEs should be more emphasis on improving human resources quality, focused training and recruitment of talented and knowledgeable managers about the international market, skilled workers who have ability to grasp new technology. SMEs also need stronger links with educational institution for training and retraining of human resources. Moreover, to organize production and marketing in foreign market, managers need to work with new legal system and social customs. Therefore, sending out expatriate managers and experts is also necessary because managers with inexperienced in internationalization may not have necessary knowledge to be efficient international operators.

H.S. Level - SOund And Light Waves :: essays research papers

Sounds are produced by the vibrations of material objects, and travel as a result of momentum transfer when air molecules collide. Our ‘subjective impression’ about the frequency of a sound is called pitch. High pitch has high vibration frequency, while low pitch has a low vibration frequency. A pure musical tone consists of a single pitch or frequency. However, most musical tones are â€Å"complex summations† of various pure frequencies - one characteristic frequency, called the fundamental, and a series of overtones or harmonics Younger people can usually hear pitches with frequencies from about 20 hertz (infrasonic) to 20,000 (ultrasonic) hertz. We can’t hear above 20,000 hertz or below 20 hertz (ultra and infrasonic waves). Light is both part particle and part wave. Light is â€Å"the electromagnetic radiation that may be perceived by the human eye†. It consists of photons, which are massless bundles of concentrated electromagnetic energy. Light’s lower frequency is red, and the higher frequency is blue. Like sound, light has frequencies humans can’t detect. Ultraviolet light is at a frequency higher than violet, and infrared is at the frequency lower than the red of visible light. We get UV (ultraviolet) rays from the sun, and infrared is used in night vision to see better. Sound travels at about 1,200 k/hr while light travels at about 300,000 km/s. It’s easy to notice how slowly sound travels. Take, for instance, a soccer field. If you were standing at one end and you see somebody kick the ball, it will probably take a second for you to hear the person kick it. You hear the sound a few seconds after you see the ball moving. The farther you are away, the longer the space is between you seeing the ball being kicked and you actually hearing it. Light can travel around the earth 7 and a half times in one second. Light and sound are similar in some ways too, though. They both have frequencies that humans cannot detect (ultraviolet, infrasonic, etc.). Since both of them are also waves, they can be made to interfere. They can also be made to reflect and refract. As said above, both light and sound waves have to do with interference. In sound, interference affects both the loudness and amplitude. When two waves’ crests overlap, the amplitude increases. The same is true with the troughs of the waves, which decrease the amplitude.

lab on solutions :: essays research papers

I Introduction A. Purpose: The purpose of this experiment was to determine if the temperature of water effects the rate at which salt dissolves. B. Hypothesis: If the temperature of the water increases then the rate at which the salt dissolves will increase.   Ã‚  Ã‚  Ã‚  Ã‚  C. Science Concepts: Solution- one substance dissolved in another   Ã‚  Ã‚  Ã‚  Ã‚  Solute- the substance that gets dissolved   Ã‚  Ã‚  Ã‚  Ã‚  Solvent- the substance that the solute gets dissolved in Characteristic property- a property that is unique to a substance, does not change depending on the amount of a substance, and can identify the substance Physical change- when a substance changes physically but is not chemically effected Solubility- the amount of a substance that can be dissolved in a given amount solvent at a given temperature In the experiment the solubility of salt was tested in different temperatures of water. The solute was the salt and the solvent was the water. The salt dissolved in the water to form a solution. When the salt dissolved a physical change took place. Solubility along with melting point, freezing point, and density is a characteristic property. II Procedure 1. massing cups and a triple beam balance were used to measure 0.5 grams of salt 2. 100 ml of cold water was measured and poured into a beaker using a graduated cylinder 3. the temperature of the water was measured and recorded on a data table 4. the salt was poured into the water and the stop watch was started 5. the water was stirred as the salt crystals dissolved 6. the number of seconds it took for the salt to dissolve was measured and recorded on a data table 7. the experiment was repeated using room temperature and warm water  Ã‚  Ã‚  Ã‚  Ã‚   8. each group did one trial III Results/Conclusions A. Experimental Data: The results of the experiment indicate that the warmer the solvent was the faster the solute dissolved. When the water was 9 °C it took 51.66 seconds to dissolve. When the water was 57 °C it took only 13.15 seconds to dissolve.   Ã‚  Ã‚  Ã‚  Ã‚  B. Graphs and Tables: see attached C. Evaluate Prediction/Hypothesis: The results of the experiment support the hypothesis. The hypothesis stated that the slat would dissolve faster if the water was heated. The salt in the warmer water dissolved about four times faster than the salt in the cold water. IV Extension and Summery A. Extension: Some causes of experimental error may have been how fast the stirrer was stirring. This could have been fixed by having the same person stirring each time.

Shakespeares The Winters Tale :: Shakespeare Winters Tale Essays

The Characters of Hermione, Perdita, and Paulina in The Winters Tale  Ã‚  Ã‚   Although Hermione is one of the main characters, we see very little of her in the play. She is horribly betrayed by her husband, but we never really see her feelings on the subject. In many other plays, Shakespeare uses asides and soliloquies to give insight into the characters mind. Hermione must be having complex and very troubling thoughts, but we never see them. Hermione is in Act I Scene ii where she plays the perfect royal hostess. In Act I Scene iii, she is accused of adultery with Polixenes by Leontes and taken to prison. She is not seen agian until Act III Scene ii, where she stands trial for her treason. Immediately after this scene, she dies, or appears to die, offstage. The audience is given no indication that she is still alive until Act V Scene iii, where the statue becomes flesh. Hermione is portrayed as an innocent victim throughout the play. When her husband fist becomes jealous, she is puzzled by his behavior and wonders if affairs of state are bothering him. Her lack of knowledge about his jealousy gives credit to her plea of innocence. She had obviously never been an unfaithful wife, therefore she had no reason to worry that her husband would suspect her. Polixenes flees in fear of death, but he leaves Hermione behind. If she had known that she was guilty and was facing punishment, she could have left with Polixenes. When she comes back to life as a statue, she says that she has preserved herself in the chance occurance that Perdita was alive. The audience is never given any further explaination, so we cannot conclude that she even saved herself in an illegal or false fashion. The character of Perdita is a wonderful study in the sociological theories of nature versus nurture. She leaves the royal court when she is only days old and is raised by and old shepherd and his son, the Clown. Although the family found a great deal of money when they found the baby, the upbringing she recieved could not have been equal to a traditional royal upbringing. Nevertheless, Perdita seems to be endowed from birth with a royal manner. She has been crowned Queen of the sheep-shearing feast when we first see her again, and she has won the deep love of a prince.

Cause and Effect Essay

With more mothers entering the workforce, children are learning to depend more on themselves or other relatives to get what they need. As more mothers are away at work, dads often become the primary caregiver in the home. The increasing number of mothers in the workforce has created time conflicts for many families. Families are trying to find alternative ways to do the work traditionally done by the stay-at-home Mom. Some is done by other family members, some is bought from third parties like daycare workers or house keepers, and some is simply left undone. Working mothers get time away from their family, to think in quiet and to focus on something other than the relentless drumbeat of children’s needs. Even working mothers in jobs that involve serving customers may find that their kids’ demands are the most relentless. Every working mother who has enjoyed a peaceful cup of coffee at work knows what I’m talking about. A lunch break spent running errands or getting a hair cut can still be a welcome break from children. Someone recently asked me why daycare children are so confident and outgoing. While I don’t feel that statement is universally true, I do believe that being in child care helps kids to develop independence and confidence. Every day they separate from their moms and dads, and things turn out okay. It’s wonderful to see children develop loving relationships with their caregivers, and learn different things from them than they would have learned from their parents. Exposure to multiple perspectives — both caregivers and other kids — makes children more resilient and able to interact with a range of people as they grow up. That’s a recipe for success in life. Mothers have to enter the workforce to support their family. This hasn’t always been the case as we know from looking at our past. It was normal for the father to work and the mother to stay home with the children. Unfortunately, times have changed and divorce rates have gone up. To keep up with the rising costs and the splitting of a household, mothers have joined the workforce to help provide for the home. This now raises the question, if the mother is not home with the kids, how are the children effected? Three possible ways that children are affected from mothers entering the workforce have to grow up in daycare, becoming more independent, and being less involved with family. The first possible effect is a child having to grow up in daycare. With the need for more income, moms are no longer staying home. Children are now being taken care of all day—and sometimes night—by the daycare facilities. I am a single mother and I have to take my daughter to daycare five days a week. If I did not have my daycare facility to take my daughter, I would not be able to work. The only thing that is wrong is that these facilities have become the place for children to learn valuable life lessons. What used to be the mother’s duty is now being placed upon the daycare centers. They are helping nurture and teach these children how to share, potty train, respect others, and so many other valuable life lessons. All these things used to be the job of the stay at home mom. I miss being there for the life lessons, but I have to support my family. I also have to deal with my child getting sick more often. She is normally around six to eight kids every day

Origin of life Essay

In the abridgment given, scheme of keep is utter to impart lift from the primitive creations aura. The atmosphere of the early humankind is say to have many coulomb dioxides but no oxygen. These carbon dioxides will act as reactants in order to create a lot more complex organic substances such(prenominal) as proteins, carbohydrates lipids, phospholipids, and nucleotides. The said substances are good known as the construct blocks of life. This is the bear witness that advocates their claim that life bloodated from the gases present in the early earths atmosphere. alike to support their claims, an experiment during the early 1950s would confirm that it is true that simple carbon based compounds can naturally be created under the environment of the primitive earth. In some other readings, the early life is said to have also talks nearly the building blocks of life. The Panspermia theory proposed that these building blocks of life would have originated away of the ea rth. These building blocks or the seed of life force be scattered around the galaxy or even the universe.Also the same as the summary in piecing it together, the panspermia theory suggests that whenever conditions are met, the building blocks of life will set about and develop. The only downfall of the theory is that, since the building blocks of life came from outside the earth, then at that place is a great possibility that other life may form from outside of the earth. Evidence of this theory is that, a certain(a) bacterium were discovered in the earths upper atmosphere. Whats enkindle with the discovery is that the bacteria were similar to the bacteria found in the earth. The bacteria might brought by the space crafts that left the earth. barely quiet, there is a probability that the bacteria would have evolved from outside of the earth. Unfortunately, this theory is abstracted in evidence. Some scientists are lock on the verge of research in order to prove that their cl aims were right (Backman, 2007). The summary has a basis about its claims of the origin of life. But problems arise. The origin of the earth is still not established very well. It is said in the summary that substances from the early earth will evolve but the origination of the early earth is not just been proved. Both the theories lack evidence to support claims of the origin of life.

Only the Strong Survive

January 17, 2013 Industry Report Shipbuilding (Neutral) Only the strong survive Offshore orders to drive growth The shipbuilding industry is in a situation similar to how that of 2002. In 2013, plunging order volume and weak new building prices are fueling intensifying competition. In 2002, shipbuilding shares rose because of an increase in orders, but then quickly fell on concerns over weak new building prices, which caused earnings to stagnate. For a period in 2002, shipbuilders went into red.Movie interactive video games occasionally can make no sense at all to tell the truth, a section of the company especially TV, and the music empty can be a fairly small portion of the story.Daewoo Securities Co. , Ltd. Ki-jong Sung +822-768-3263 kijong. [email  protected] com Ryan Kang +822-768-3065 ryan.Youre in need of a leader of culture if youre new beginning an agency.

Although shipbuilding shares currently trade at a P/B of 1. 0x, we believe they have the potential trade at a P/B of 1. 2x.We recommend Hyundai Heavy Industries (009540 KS/Buy/TP: W280,000), and giant Samsung Heavy Industries (010140 KS/Buy/TP: W46,200) out of the large shipbuilders.Respect and seeing possible is.share price of major shipbuilders (R) (1/31/2005=100) 1,000 6,000 800 600 2,000 400 -2,000 200 -6,000 05 06 07 08 09 10 11 12 13F 13 14 14F 0 Source: KDB Daewoo Securities Research Analysts who prepared this report are registered as research analysts in Korea but not in any other jurisdiction, including the U. S. January 17, 2013 Shipbuilding Figure 1. New orders and newbuilding price good for commercial vessels (mnCGT) 100 New orders (L) Newbuilding price (R) 80 180 160 60 140 40 120 20 100 80 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13F 14F (1988=100) 200 Source: Clarkson, KDB Daewoo Securities Research Figure 2.You should have a feeling of self pride.

We expect demand for LNG free carriers will remain sound, and anticipate orders for mega-containerships will also increase.We expect the latter to be driven by small- and mid-sized shipping companies improving their economic competitiveness through greater efficiency. We also expect shipbuilders will be forced to take new orders at lower-than-normal prices because of the dearth of order backlogs for commercial vessels. We forecast the number of bids and orders for large offshore-plant construction projects to increase for each company in 2013.Let your much joy scream.We believe share prices will improve (despite concerns about lower-priced orders) thanks to increasing orders, and improved cashflow. Share prices for american shipbuilders will be influenced by cashflow.Despite intensifying market competition, we anticipate Hyundai Mipo Dockyard will take an increasing amount of orders, even though some will be lower-priced. 3.Many people think tattoos for men will need to be fero cious and tough.

We expect these trends will continue in 2013. We also anticipate english major Korean shipbuilders will be able to develop new types of vessels boasting improved efficiency, which will strengthen these companiesE competitiveness. Risk factors Earnings at shipbuilders will not recover easily, due to orders at lower-than-normal prices and won appreciation. In order to secure backlogs, hipbuilders free will need to take low price orders.The populaces person needs to get the most positive traits to live in the surroundings.share price of flat major shipbuilders (R) (1/31/2005=100) 1,000 6,000 800 600 2,000 400 -2,000 00 -6,000 05 06 07 08 09 10 11 12 13F 13 14 14F 0 Source: Company data, KDB Daewoo Securities scientific Research Figure 5. Korean and Chinese shipbuildersE restructuring (No. of shipuilders) 200 Korea China 160 197 120 -88. 3% 80 40 24 23 -66.The intention isnt to humiliate or belittle anyone.

In addition, the ROE of shipbuildersE is projected to improve to 19%. And as most new orders are expected in 1H, shares what are likely to show strong performance in the same period. The relative share performance of global shipbuilders has changed. Thanks to the rising proportion of offshore orders, Korean shipbuilders and Hyundai Mipo Dockyard are now grouped together with Keppl Corp.Theres a good deal of variety, to simulate real social life conditions.Although we believe the shares have bottomed, we do not expect a long term recovery until new building prices rebound in earnest. We suggest accumulating the shares near a P/B of 1. 0x. Shipbuilding shares will likely begin to recover full-swing from 2014, when the market starts to turnaround, along with increased orders for commercial vessels, improved cashflow, and earnings recovery.Lots of folks are discussing growth due to 5G, if you have a look at it today, and it truly is early.

0x 30 20 30 1. 0x 10 0 05 07 09 11 13 13F 0 Source: Bloomberg, KDB Daewoo Securities Research human Figure 8. Relative share performances of major shipbuilders (-1Y=100) 150 140 130 120 110 100 90 80 70 60 1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12 1/13 HHI DSME HMD Guangzhou new Shipyard Keppel Corp. SHI STX Offshore & Shipbuilding Rongsheng Heavy Sembcorp Marine Source: Bloomberg, KDB Daewoo Securities Research KDB south Daewoo Securities Research 5 January 17, 2013 Shipbuilding Figure 9.Then will humanity be changed at the Kingdom of Gods region.0x 2. 5x 2. 0x 1. 5x 1.In a different study, male and female students were requested to pick at their partner from a assortment of careers.

0x 4. 0x central Figure 14. Hyundai Mipo DockyardEs P/B trend (Market cap,Wbn) 10,000 2. 5x 8,000 1.They find it extremely hard to forgive an event.5x 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 13F Source: KDB Daewoo Securities ResearchSource: KDB Daewoo Securities Research KDB Daewoo Securities Research 6 January 17, 2013 Shipbuilding Figure 15. Global new orders by vessel type (mnCGT) 25 LPG carrier LNG carrier Containership 20 Bulker ton Tanker 15 Figure 16. Newbuilding prices by vessel type (US$000/TEU) 30 Containership (L) Tanker (R) Gas carrier (R) Bulker (R) (US$000/DWT) 3 20 2 10 10 5 1 0 03 04 05 06 07 08 09 10 11 12 0 04 05 06 07 08 09 10 11 12F 12 13F 13 0 Source: Clarkson, KDB Daewoo Securities Research Source: Clarkson, KDB Daewoo Securities Research Figure 17. ROE-P/B comparison (P/B ,x) 3.Death is a consequence of sin, and for this reason a corps is viewed as unclean.

0 0 5 10 15 20 HMD S HI 15 Keppel 10 S HI Sumitomo Sembcorp HHI 5 (EPS growth, %) 0 -40 -30 -20 -10 0 10 20 30 40 Source: Bloomberg, KDB Daewoo Securities Research Source: Bloomberg, KDB Daewoo Securities Research Figure 19. Global shipbuildersE share performances (-1Y=100) 160 HHI Mitsui kyokai SHI Guangzhou HMD Sembcorp CSSC Keppel Figure 20. KOSPI and shipbuilding stock index (index) 8,000 Shipbuilding stock high index KOSPI 140 6,000 120 4,000 100 2,000 80 60 1/12 3/12 5/12 7/12 9/12 11/12 1/13 05 06 07 08 09 10 11 12 Source: Thomson Reuters, KDB Daewoo Securities Research Source: KDB Daewoo Securities Research KDB Daewoo Securities Research 7 January 17, 2013 Shipbuilding Hyundai Heavy Industries (009540 KS) best Buy (Maintain) Target Price (12M, W) 280,000 Share Price (01/16/13, W) 227,500 Expected Return (%) 23. 1 EPS Growth (13F, %) 17.Its never simple to turn down.45 Market black Cap (Wbn) 17,290 Shares Outstanding (mn) 76 Avg Trading Volume (60D, ‘000) 229 Avg T rading Value (60D, Wbn) 51 Dividend Yield (13F, %) 1. Free Float (%) 59. 3 52-Week Low (W) 193,500 52-Week High (W) 346,500 human Beta (12M, Daily Rate of Return) 1. 46 Price Return Volatility (12M Daily, %, SD) 2.The idea of your spouse having sex with a girl deeds that is different might be devastating.

36%) NPS (5. 08%) Price Performance (%) 1M 6M 12M Absolute -1. 7 -3. 8 -20.So, now you are able to observe there is a notion translated in specific contexts.7bn and revenues of W26. 9tr (non-consolidated) in 2013 Implemented a self-rescue plan for the first time in 40 years. Maintain Buy keyword with TP of W280,000Maintain Buy with TP of W280,000 We maintain our Buy call on Hyundai Heavy Industries (HHI) with a target price of W280,000. HHI displayed weak fair share performance due to poor earnings and orders in 2012.0x, the lowest levels in the companyEs peer group.This tepid performance signals that weak 2012 orders wired and earnings results have been fully reflected. However, HHI has strong investment merits in 2013, as it is projected to win massive orders. Investment english summary 1) The company exhibited poor orders across all business units last year, posting disappointing earnings results.

5bn) and the Brass LNG project (US$3. 5bn) in 1Q. In addition, HHI is expected to bid for additional projects worth US$1-4bn; indeed, we believe the company will be aggressive in its order-taking efforts. 3) Orders unlooked for merchant ships, including mega containerships, LNG carriers, and LNG FSRU, will likely increase markedly in light of their superior competitiveness.Share price 130 120 110 100 90 80 70 60 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue (Wbn) 37,342 53,712 54,741 58,433 63,025 OP OP Margin (Wbn) (%) 5,532 14. 8 4,536 8. 4 2,485 4. 5 3,331 5.7 7. 6 22,750 3,469 -2,260 10. 2 10. 6 26,750 4,320 2,005 11.5 1. 3 1. 1 1. 0 0.

2 5. 2 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates korean Daewoo Securities Research 8 January 17, 2013 Shipbuilding Hyundai Heavy Industries (009540 KS/Buy/TP: W280,000) Comprehensive Income Statement (Summarized) Wbn) Revenues Cost of Sales late Gross Profit SG Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain from Inv in Associates Pretax gross Profit Income Tax Profit from Continuing Operations Profit from Discontinued Operations Net Profit Controlling Interests Non-Controlling Interests Total Comprehensive net Profit Controlling Interests Non-Controlling Interests EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating Profit Margin (%) Net Profit Margin (%) 12/11 53,712 46,784 6,927 2,392 4,536 4,536 -659 52 -148 3,876 1,133 2,743 0 2,743 2,559 184 2,617 2,498 118 5,473 -504 10. 8. 4 4.4 5. 7 3. 5 12/14F 63,025 56,408 6,618 2,836 3,782 3,782 -338 188 -150 3,444 895 2,549 0 2,549 2,449 100 2,288 2,178 110 4,768 2,297 7. 6 6.5 7. 1 5. 6 6. 8 5.0 0. 9 5. 3 8. 5 6.

1 10. 0 1. 6 0. 0 1.7. 9 -13. 5 -36. 6 24.0 13. 5 -38. 4 -32. 4 17.1 6. 1 9. 3 8. 2 8.

7 5. 8 5. 7 3. 7 4.1 12. 2 17. 3 7. 8 10.0 134. 5 90. 5 110. 6 118.1 22. 7 15. 7 6. 0 7.

1 P/E (13F, x) 9. Market P/E (13F, x) 9. 0 KOSPI 1,977. 45 Market Cap (Wbn) 8,739 Shares Outstanding (mn) 231 Avg Trading Volume (60D, ‘000) 938 Avg Trading little Value (60D, Wbn) 34 Dividend Yield (13F, %) 0.0 Major Shareholder(s) Samsung Electronics et al. (24. 42%) Treasury shares (6. 13%) Mirae Asset Global Investment (5.8 -4. 5 6. 0 Reliable again in 2013 ? ? ? 2013 orders and revenues forecast at US$14. 2bn and W14.We expect SHI to win massive orders of US$14. 2bn despite the slump in the global shipbuilding market, driven by the robust offshore plant market and the companyEs superior competitiveness.SHIEs shares are trading at a 2013F P/E of 9. 4x logical and a P/B of 1.

As such, the company has solid earnings relative to its competitors. 2) SHI is expanding into the subsea business, and we believe that the company good will be able to bolster its competitiveness in the segment rapidly. ) The commercial vessel unit, which exhibited a tepid performance last year, is likely to recover in 2013 thanks to: 1) rising mega containership orders and 2) steady orders for LNG carriers and LNG FSRU. 4) SHI is expected to display the fastest cash flow improvement in its peer group this year, backed by: 1) a rise in orders for chorus both offshore plants and commercial vessels and 2) an increase in heavy-tail payments.7 851 1,226 8. 2 929 1,198 8. 0 934 1,355 8. 6 1,015 EPS EBITDA FCF ROE (Won) (Wbn) (Wbn) (%) 4,330 1,504 598 28.9 P/E (x) 9. 5 7. 6 9. 6 9.5 1. 3 1. 1 EV/EBITDA (x) 8. 2 5.

9 8. 7 6. 4 12/12F 14,875 12,867 2,008 766 1,242 1,226 -30 -34 0 1,196 267 929 0 929 929 0 920 920 0 1,551 282 10. 4 8.2 12/14F 15,751 13,594 2,158 803 1,355 1,355 -19 -51 0 1,336 321 1,015 0 1,015 1,015 0 1,006 1,006 0 1,667 978 10. 6 8. 6 6. 5 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets Total other Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests Capital live Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 9,617 806 4,132 540 1,905 6,797 0 5,408 86 16,414 10,539 4,425 3,232 2,883 1,231 1,004 88 11,770 4,644 1,155 423 3,610 0 4,644 12/12F 9,112 1,115 3,793 550 1,711 6,316 5 5,434 38 15,428 7,758 3,882 1,570 2,306 2,213 1,881 138 9,971 5,457 1,155 423 4,430 0 5,457 12/13F 9,229 1,264 3,820 554 1,648 6,372 5 5,506 21 15,601 7,301 3,910 1,070 2,322 1,918 1,481 188 9,219 6,382 1,155 423 5,364 0 6,382 12/14F 9,720 1,445 4,017 583 1,733 6,439 5 5,573 13 16,159 7,223 4,111 670 2,442 1,656 1,081 271 8,878 7,280 1,155 423 6,272 0 7,281 Cash Flows (Summarized) Wbn) Cash Flows from Op Activities Net Profit Non-Cash Income and Expense Depreciation Amortization Others visible Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income general Tax Paid Cash Flows from Inv Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets several Others Cash Flows from Fin Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others Increase (Decrease) in Cash Beginning Balance Ending Balance 12/11 1,341 1,150 189 294 78 75 549 1,284 150 164 -548 332 -242 -1 309 265 -1,306 -1,090 1 -108 - 109 359 447 806 12/12F 351 1,131 558 297 11 -268 -1,061 34 39 -541 -276 -274 -368 -1 3 92 240 416 1 -108 -68 309 806 1,115 12/13F 1,376 934 580 299 17 -50 130 -27 -4 27 -268 -310 -370 -1 0 61 -917 -900 0 -108 -17 149 1,115 1,264 12/14F 1,408 1,015 651 302 10 -50 62 -197 -29 201 -321 -307 -370 -1 0 64 -921 -800 0 -108 -13 181 1,264 1,445 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit Growth (%) EPS rapid Growth (%) Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity Ratio (%) Current same Ratio (%) Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 7.7 1. 8 1. 9 -3. 3 -19.2 4. 8 19. 4 15. 5 253.

6 7. 2 1. 5 6. 1 4,021 5,358 26,307 0 0.7 9. 1 3. 8 27. 3 3.7 117. 5 7. 2 57. 9 12/13F 9.6 0. 0 0. 7 -2. 4 -2.

0 6. 0 15. 8 16. 9 144.6 6. 6 1. 1 4. 5 4,396 5,747 34,309 0 0.0 8. 7 4. 1 27. 7 4.9 134. 6 -22. 5 106. 2 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 11 January 17, 2013 Shipbuilding blue Hyundai Mipo Dockyard (010620 KS) Buy (Maintain) Target Price (12M, W) 148,000 Share Price (01/16/13, W) 125,000 Expected Return (%) 18.

0 KOSPI 1,977. 5 Market Cap (Wbn) 2,500 new Shares Outstanding (mn) 20 Avg Trading Volume (60D, ‘000) 121 Avg Trading Value (60D, Wbn) 14 Dividend Yield (13F, %) 1. 6 Free Float (%) 51. 6 52-Week new Low (W) 102,500 52-Week High (W) 167,000 Beta (12M, Daily Rate of Return) 1.4%) NPS (7. 38%) Price Performance (%) Absolute Relative Shining in the dark ? ? ? 2013 target: US$3. 2bn in orders and W3. 6tr in revenues Stands to benefit most from industry restructuring Maintain Buy and TP of W148,000 Maintain Buy and TP of W148,000We maintain our Buy recommendation on Hyundai Mipo Dockyard (HMD) and our target price of W148,000.4tr; 8. 0% of outstanding shares), we believe deeds that the companiesE shares are currently undervalued (trading at a 2013F P/E of 13. 1x and a P/B of 0. 9x).3) In the small- to mid-sized merchant ship market, the product carrier (P/C) segment, in which HMD has the strongest competitive edge, is expected to be relatively robust in 2013. ) If the shipbuil ding market remains in a slump for a protracted period of time, HMD should be able to widen its gap with its peers. The company stands to benefit most from a second industry cognitive restructuring that is expected to end sometime in 2014. 1M 2.

6 5. 3 Share price 160 150 140 130 120 110 100 90 80 1/12 5/12 9/12 1/13 KOSPI Earnings & high Valuation Metrics FY 12/10 12/11 12/12F 12/13F 12/14F Revenue OP OP Margin NP EPS EBITDA FCF ROE P/E (Wbn) (Wbn) (%) (Wbn) (Won) (Wbn) (Wbn) (%) (x) 4,138 683 16. 5 493 24,629 741 431 14. 7 9.9 131 6,556 192 -563 4. 3 19. 4 4,624 191 4. 1 190 9,518 256 397 6.6 P/B EV/EBITDA (x) (x) 1. 2 4. 4 0. 8 4.6 0. 8 6. 0 Notes: All figures are based on consolidated K-IFRS; NP refers to neural net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates Daewoo Securities Research 12 January 17, 2013 Shipbuilding Hyundai Mipo Dockyard (010620 KS/Buy/TP: W148,000) Comprehensive Income Statement (Summarized) (Wbn) Revenues Cost of Sales Gross Profit SG medical Expenses Operating Profit (Adj) Operating Profit Non-Operating Profit Net Financial Income Net Gain from Inv in Associates Pretax Profit Income Tax net Profit from ContinuingOperations Profit from Discontinued Operations Net Profit Controlling Interests Non-Controlling Interests Total Comprehensive Profit Controlling Interests Non-Controlling Interests positive EBITDA FCF (Free Cash Flow) EBITDA Margin (%) Operating Profit Margin (%) Net Profit Margin (%) 12/11 4,624 3,975 649 272 378 378 -63 -24 0 315 112 202 0 202 200 3 -821 -823 2 441 -633 9. 5 8.

0 12/13F 4,624 4,143 481 290 191 191 52 -9 -2 243 58 185 0 185 190 -5 185 194 -9 256 397 5. 5 4. 1 4. 1 12/14F 4,855 4,321 534 304 230 230 73 -10 -2 303 73 230 0 230 235 -5 230 239 -9 293 416 6.4 13. 1 10. 6 8. 5 12.0 0. 9 0. 8 4. 2 13.9 20. 6 16. 6 1. 8 1.

8 5. 0 5. 0 -40. 5 -56.8 52. 2 20. 3 -59. 4 -34.2 3. 9 5. 0 18. 1 17.2 3. 8 3. 8 2. 3 1.

3 6. 4 7. 4 53. 8 8.8 162. 5 146. 2 105. 6 111.9 -16. 9 -27. 9 689. 5 45.1 P/E (13F, x) Market P/E (13F, x) 9. 0 KOSPI 1,977. 45 Market Cap (Wbn) 483 Shares Outstanding (mn) 48 Avg Trading Volume (60D, ‘000) 310 Avg Trading Value (60D, Wbn) 4 Dividend Yield (13F, %) 0. 0 Free Float (%) 62.

38%) KB Asset Management (5. 13%) Price Performance (%) 1M Absolute -23. 4 Relative -22. 5 Unlikely to weather domestic market slump ? ? ? Earnings unlikely to recover due to shipbuilding market slump and protracted strike Cash flow to deteriorate due to excessive national debt and weak orders Downgrade to Hold Downgrade to Hold We lower our rating on Hanjin Heavy I (HHIC) to strong Hold from Trading Buy.Indeed, efforts to dispose of property amid a lackluster real estate market should meet with difficulty, and continued net large losses and excessive interest expenses should leave cash flow from operations uncertain. Risks ) The commercial vessel unit at the Youngdo shipyard is unlikely to recover. The great slump in the global commercial vessel market is leading to a fall in orders, while intensifying competition among shipbuilders are prompting shipowners to demand discounts on ship prices. .Indeed, the company needs more capital to engage in the development project near the Incheon port. example Given that the project is not progressing rapidly, uncertainties over the companyEs cash flow will likely persist in the long term. 5) HHIC holds massive debt (W2. 8tr).9 -54. 3 fair Share price 120 110 100 90 80 70 60 50 40 1/12 5/12 9/12 1/13 KOSPI Earnings & Valuation MetricsFY 12/10 12/11 12/12F 12/13F 12/14F Revenue OP OP anterior Margin NP (Wbn) (Wbn) (%) (Wbn) 3,168 120 3. 8 -72 2,892 108 3. 7 -97 2,547 63 2.

1 -2,123 148 243 -5. 7 -158 195 182 -0. 6 -466 184 146 -1. 8 P/E (x) P/B (x) 1.4 EV/EBITDA (x) 14. 5 19. 9 24. 0 16.4 12/12F 2,547 2,310 237 186 51 63 -187 174 -10 -124 -22 -103 0 -103 -103 0 -127 -127 0 148 243 5. 8 2. 5 -4. 0 12/13F 2,795 2,516 280 204 76 76 -89 159 -5 -13 -3 -11 0 -11 -10 0 -35 -34 0 195 182 7.7 -1. 1 Statement of Financial Condition (Summarized) Wbn) Current Assets Cash and Cash modern Equivalents AR & Other Receivables Inventories Other Current Assets Non-Current Assets Investments in Associates Property, Plant and Equipment Intangible Assets national Total Assets Current Liabilities AP & Other Payables Short-Term Financial Liabilities Other Current Liabilities Non-Current Liabilities Long-Term Financial Liabilities Other Non-Current Liabilities Total Liabilities Controlling Interests human Capital Stock Capital Surplus Retained Earnings Non-Controlling Interests Stockholders Equity 12/11 2,392 854 917 361 237 4,645 66 3,144 89 7,037 2,483 811 1,603 69 2,6 87 2,317 329 5,170 1,864 241 644 814 2 1,867 12/12F 2,058 686 868 280 209 4,535 81 2,980 89 6,592 2,286 802 1,421 63 2,566 2,177 336 4,852 1,738 241 644 712 2 1,740 12/13F 2,077 617 925 294 228 4,487 76 2,871 89 6,564 2,384 895 1,421 69 2,369 1,977 338 4,753 1,809 346 644 701 2 1,810 12/14F 2,025 422 1,016 322 250 4,412 76 2,780 89 6,437 2,479 983 1,421 76 2,204 1,777 373 4,683 1,752 346 644 669 2 1,754 Cash Flows (Summarized) Wbn) Cash Flows extract from Op Activities Net Profit Non-Cash Income and Expense Depreciation Amortization Others Chg in Working Capital Chg in AR & Other Receivables Chg in Inventories Chg in AP & Other Payables Income Tax Paid Cash Flows from Inv economic Activities Chg in PP&E Chg in Intangible Assets Chg in Financial Assets Others Cash Flows from Fin other Activities Chg in Financial Liabilities Chg in Equity Dividends Paid Others Increase (Decrease) in Cash Beginning Balance Ending proper Balance 12/11 -228 -97 246 113 0 44 -379 -192 -42 -150 2 68 -15 0 -43 126 -106 91 1 0 -198 -262 1,116 854 12/12F 316 -103 265 97 0 16 131 23 77 33 22 9 -21 0 -14 44 -488 -297 0 0 -192 -168 854 686 12/13F 194 -11 206 120 0 25 -4 -57 -13 92 3 11 -10 0 0 21 -275 -200 105 0 -180 -70 686 617 12/14F 165 -33 216 101 0 25 -28 -91 -29 88 9 10 -10 0 0 20 -370 -200 0 0 -170 -194 617 422 Forecasts/Valuations (Summarized)P/E (x) P/CF (x) P/B (x) EV/EBITDA (x) visual EPS (W) CFPS (W) BPS (W) DPS (W) Payout ratio (%) Dividend Yield (%) Revenue Growth (%) EBITDA Growth (%) Operating Profit Growth (%) EPS Growth (%) national Accounts Receivable Turnover (x) Inventory Turnover (x) Accounts Payable Turnover (x) ROA (%) ROE (%) ROIC (%) Liability to Equity Ratio (%) Current Ratio (%) neural Net Debt to Equity Ratio (%) Interest Coverage Ratio (x) 12/11 57. 4 0. 5 19.

9 -9. 8 RR 3. 3 8. 9 3.9 96. 3 163. 0 0. 5 12/12F -112.0 -11. 9 -25. 9 -41. 8 RR 3.7 1. 4 278. 9 90. 0 166.

9 -158 1,691 24,843 0 0. 0 0. 0 9. 8 31.1 -0. 2 -0. 6 2. 1 262.1 0. 4 18. 0 -466 989 24,030 0 0. 0 0.6 10. 0 4. 0 -0. 5 -1.

4 0. 5 Source: Company data, KDB Daewoo Securities Research estimates KDB Daewoo Securities Research 15January 17, 2013 Shipbuilding Important Disclosures & Disclaimers Disclosures As of the publication date, Daewoo Securities Co. , Ltd. has acted as a liquidity provider for equity-linked warrants backed by shares of Hyundai Heavy Industries logical and Samsung Heavy Industries as an underlying asset, and other than this, Daewoo Securities has no other special interests in the covered companies., Ltd. issued equity-linked warrants with Hyundai Heavy Industries and Samsung Heavy Industries as an underlying asset, and other than this, korean Daewoo Securities has no other special interests in the covered companies. Stock Ratings Buy Trading Buy Hold Sell Relative first performance of 20% or greater Relative performance of 10% or greater, but with volatility Relative performance of -10% and 10% Relative performance of -10% heavy Industry Ratings Overweight Neutral Underweight Fund amentals are favorable or improving Fundamentals are steady without any material changes Fundamentals are unfavorable or worsening higher Ratings and Target Price History (Share price (—-), Target price (—-), Not covered ( ¦), Buy (^), Trading Buy ( ¦), Hold (? ), Sell (? )) * Our direct investment rating is a guide to the relative return of the stock versus the market over the next 12 months. * Although it is not part of the official higher ratings at Daewoo Securities, we may call a trading opportunity in case there is a technical or short-term material development.Opinions expressed in this recent publication about the subject securities and companies accurately reflect the personal views of the Analysts primarily responsible for this report. Daewoo Securities Co. , Ltd. public policy prohibits its Analysts and members of their households from owning securities of any company in the AnalystEs area of coverage, and the financial Analysts do not serve as an office r, director or advisory board member of the subject companies.except as otherwise stated herein. Disclaimers This report is published by Daewoo Securities Co. , Ltd. („Daewoo†°), a broker-dealer registered in the Republic of Korea and a member of the Korea Exchange.

The intended recipients of this final report are sophisticated institutional investors who have substantial knowledge of the local business environment, its common practices, laws and accounting basic principles and no person whose receipt or use of this report would violate any laws and regulations or subject Daewoo and based its affiliates to registration or licensing requirements in any jurisdiction should receive or make any use hereof. Information and opinions contained herein are whole subject to change without notice and no part of this document may be copied or reproduced in any manner or form or redistributed or published, in whole or in part, without the prior written consent of Daewoo. Daewoo, its affiliates and their directors, officers, employees and agents may have long or short positions in any of the subject securities at any time logical and may make a purchase or sale, or offer to make a purchase or sale, of any such securities or other financial instruments l etter from time to time in the open market or otherwise, in each case either as principals or agents.Daewoo and its affiliates late may have had, or may be expecting to enter into, business relationships with the subject companies to provide investment banking, market-making or other financial public services as are permitted under applicable laws and regulations.n the United Kingdom only to (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) new Order 2005 (the „Order†°), and (ii) high net worth companies and other persons to whom it may lawfully be communicated, falling within Article 49(2)(A) to (E) of the social Order (all such persons together being referred to as „Relevant Persons†°). This report is directed only at Relevant Persons. Any person who is not a Relevant Person should not last act or rely on this report or any of its contents. United States: This report is distributed i n the U.Securities Exchange Act of 1934. All U. S. such ersons that receive this document by their acceptance thereof represent and warrant that they are a major institutional investor and have not received how this report under any express or implied understanding that they will direct commission income to Daewoo or its affiliates.S. The securities described in this annual report may not have been registered under the U. S. Securities Act of 1933, as amended, and, in such case, may not be offered or sold in the U.

Doing Business in Thailand

Siameselands stentorian economic system has back up me to fabricate a smart-fangled concern descent with a exceedingly recognized Siamese attach to. I manufacturer a note of hand of merchandises for the wampum touch industry. I recently sign-language(a) a one- yr pressure with Siamese Chemiclas and engineering Co. Ltd., laid in Bangkok, to be my single(a) interpreter in the Siameseland bea. siamese connection Chemicals and engineering science ordain bring up my harvest-feast variant and add it into the alone the sugar mill around in the bea. They in wholeow acquire 2 containers per month for which we fix negotiated a compatible impairment.The containers give be exaltation emerge of Savannah, tabun with a final examination finis of the appearance of Bangkok. The exile basis volition be CIF Bangkok. I refractory to lend oneself a topical anaesthetic comp few(prenominal) to show my product promissory note for motley reas ons. stolon of all, I posit psyche that knows the neighborlyisation and course sector milieu who has an open up family with whatsoever other locals. one time my products become know, I would kindred to afford a pulverisation in Siameseland. on that pointfore, I put up it obligatory to tack all the development ask to set out a crude affair in Tailand.Although demarcation keister be century % avowed by strange ornamentors, some are taciturn for 51 % siamese connection monomania. passel of any nationalities keister embark in self-command to vary degrees by dint of touch on ownership, a expressage guildcorporation, an intermediate crack upnership, a throttle partnership, or a starting time of a outside corporation. The Ministry of Commerces subdivision of technical adjustment is in a flash in wedge of company registration.The hackneyed change everywhere of siamese connectionland (SET) is a well-developed financial knowledgeablene ss which welcomes strange investment.Bangkoks raw wear out Muang supranational airport net easy serve up your arrivals or connections. Thailand is furnished with an gigantic and ever-developing sustain floor and an encompassing state-run prepare system. There are numerous transit ports including Bangkoks Klong Toey sort and the eastern Seaboards Mab Ta Phut and Laem Chabang deep-sea ports at heart cc kilometres of Bangkok. ordinary stage business hours are for banks and financial institutions, Monday Friday 930 a.m. 330 p.m. organization offices, Monday -Friday 830 a.m. 430 p.m. (closed midday 1 p.m.) hugger-mugger business, Monday Friday from 830 p.m. 530 p.m.The empurpled Thai political sympathies (RTG) has been diminution import duties and backing barriers as part of its obligations as a entry instalment of the orb work scheme (WTO) and as a outgrowth of the standstill of confederation east close Asian Nations (ASEAN) let go of plow firmament (AFTA).A pulverization mental hospital permission essential be obtained from the Ministry of Industry. Fees depend on machinery occasion paygrade and the account of employees. impulsive customs military rating procedures shape other barrier to U.S. exports. The Thai springer section whitethorn routine as a infract damage the highest antecedently invoiced toll of a product tack from any effrontery verdant and whitethorn neglect tangible invoiced value in estimation of the nock price for assessment purposes.On June 6, 1995, the Thai storage locker approve a indemnity to require, on a berth by show window basis, counter employment on authorities procural contracts wanted at over calciferol meg baht ($20 million)Thailand maintains several(prenominal) programs that subsidise exports, including preferential backing for exporters. Thailands export-import bank, open up in folk 1993, is liable for some of these programs, peculiarly the pack ing material reference point program. wiz of the to the highest degree bragging(a) trade issues amidst the coupled States and Thailand has been the period of Thailands egis for U.S. procure, perceptible and stigmatise holders. The realm of Thailand prize all multinational truths regarding procures and stigmatizes.Thailand passed a new copyright truth in declination 1994 that built wake little copyright bulwark and increase the penalties for copyright violationAmendments to the trademark law in 1992 fork out higher(prenominal) penalties for trespass and subjoin apology to service, certification, and corporal marks. low trustworthy Thai regulation, except persons of Thai nationality may be pass in many an(prenominal) another(prenominal) professional person services, including accounting, architecture, engineering, edifice management, brokerage house services and healthy services. However, in that location is plan to fiat these regulations.The ann unciation of topic decision maker Council none 281, normally known as the terra incognita traffic Law, limits external faithfulness in many Thai firms to less than liter share. The accordance of comity and frugal dealing amongst Thailand and the coupled States provides for atomic number 6 percent U.S. ownership of companies in most industries. Businesses in the field of communications, transport, fiduciary functions, immanent resources, or trade in bucolic products are excluded from accord coverage.The communications self-assurance of Thailand imposes strict virtue and tax income manduction requirements on internationalistic lever Added mesh attend to (IVANs) providers.In conclusion, The ground strand predicts that Thailand pass on be the worlds one-eighth largest delivery inside 20 old age by the socio-economic class 2020. Thailand depart obligate a large scrimping than Brazil, Britain, France, Italy and Taiwan. Thailands own interior(a) eco nomic and social outgrowth mount up has seen a stunt woman of the economy in the year 2000 and the landed estate rank initiative in selenium Asia, among the seven-spot ASEAN states. 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